By Adedapo Adesanya

Nigerian industrialist and businessman, Mr Aliko Dangote, is planning to foray into electricity generation with a 20,000 megawatt project in the pipeline.

He currently has business interests in cement, sugar, salt, fertiliser, and petrochemicals, with his latest project being the $20 billion Dangote Petroleum Refinery and Petrochemicals in Lagos, which refines about 650,000 barrels of crude oil daily.

Speaking during a conversation with International Finance Corporation (IFC) Managing Director, Mr Makhtar Diop, the businessman said, “We are now going into power… 20,000 megawatts,” adding that Africa’s most pressing needs remain energy, fertilisers, and industrial inputs.

His plan to enter one of Nigeria’s most difficult sectors comes as the nation continues to face chronic power challenges, with generation capped at around 6,000 megawatts to serve a population of around 200 million.

In March, Mr Dangote announced that his empire will be making an entry into a number of fields, including steel production, electricity generation and port development to support large-scale manufacturing and trade.

The businessman said his long-term goal is to deepen the continent’s manufacturing base beyond oil refining and position it as a global industrial force.

“We have to industrialise Africa,” Mr Dangote said, noting that his next focus areas include the steel industry, expanding access to electricity and building additional port infrastructure to support large-scale manufacturing and trade.

The project will need sufficient capital, and recent dialogues with lenders like the African Export-Import Bank (Afreximbank) will give Mr Dangote the needed boost.

Already in its long-term growth strategy, Vision 2030: Supercharging Dangote Group for Long Term Success, the African bank outlined a two‑phase expansion programme spanning 2025–2028 and 2028–2030 that will see it back into new venture interests, including ports, pipelines, data centres, and mining.

To drive the growth over the five years, the Dangote Group predicts that it will require at least $40 billion in new investments to realise its continental ambitions.

“This is the very purpose for which our institution was created. As is deeply rooted in our DNA, we do not only listen—we execute and convert aspiration into action,” Afreximbank President, Mr George Elombi, said in April, backing the group’s ambitions.

By Modupe Gbadeyanka

The Minister of Power designate, Mr Joseph Tegbe, has listed some key priority areas he hopes to achieve within a year if confirmed for the position.

At his screening at the Senate on Wednesday, Mr Tegbe said he intends to improve gas supply to boost generation, strengthen grid reliability, enforce accountability in distribution, accelerate metering, and restore financial discipline in the sector.

He expressed optimism that this key reform agenda would address longstanding challenges in the power sector.

Mr Tegbe stressed the importance of electricity to national development, stating, “Electricity is not just a sector. It is the foundation of productivity, dignity, and national confidence.”

He acknowledged persistent challenges across the power value chain, noting that while there is no “quick fix,” there is a “disciplined path to solving it,” anchored on execution discipline and measurable progress.

“We will replace uncertainty with clarity, inefficiency with discipline, and promises with measurable progress,” he added.

On timelines, Mr Tegbe pledged to begin immediate diagnostics of the issues and robust stakeholder engagement before arriving at a timeline for steady power supply, but indicated that some improvements could be achieved within three months. He added that broader reforms, such as restoring sector credibility, improving gas supply, and accelerating metering, are expected to materialise within the first year.

He also pledged to work closely with the National Assembly and other stakeholders, noting that sustained progress would require a coordinated national effort.

Reinforcing his commitment to delivery, Mr Tegbe assured Nigerians of visible improvements in no distant time, adding: “I will be accountable for progress, responsible in communication, and disciplined in execution.”

The screening concluded with the nomination proceeding to the next stage of confirmation.

At the screening exercise, Senators acknowledged his experience across public sector reform and infrastructure, noting that his cross-sector background positions him to support ongoing efforts to stabilise the sector.

By Adedapo Adesanya

A federal high court in Abuja has ordered the interim forfeiture of nine properties linked to Mr Timipre Sylvia, former minister of state for petroleum resources, to the federal government.

Justice Obiora Egwuatu, the presiding judge, made the order on April 24 following an ex parte application filed by the Economic and Financial Crimes Commission (EFCC).

“An interim order of this honourable court is made forfeiting the properties listed in the schedule attached herein, being properties suspected to be proceeds of some unlawful activities pending the publication and hearing of the motion on notice for final forfeiture order of the said properties,” the judge ruled.

“An order of this honourable court is made directing the publication of the interim order under order (1) above for anyone who is interested in the property to appear before this honourable court to show cause within 14 days why the final order of forfeiture should not be made in favour of the Federal Government of Nigeria.”

The judge also granted the anti-graft’s request for the order to be published in two national newspapers within seven days of receiving the certified true copy of the ruling.

The newspapers listed by the court include ThisDay, The Guardian, Punch, Vanguard, Tribune and Independent.

Justice Egwuatu subsequently adjourned the matter to May 25 for a report of compliance.

The EFCC had filed the suit marked FHC/ABJ/CS/607/2026 under the Advance Fee Fraud and Other Related Offences Act, 2006.

While moving the motion, Mr Oluwaleke Atolagbe, counsel to the anti-graft agency, urged the court to grant an interim forfeiture order on the grounds that the properties were suspected to be proceeds of unlawful activities.

The affected properties are located in high-value areas of Abuja.

They include four blocks of terraces in Dakibiyu; a duplex with a penthouse and office complex at No. 3 Niger street, M street; a standalone duplex at Villa 1, Unit 1, Palm Springs estate, Mpape; and a block of 10 flats at No. 8 Sefadu street, Wuse Zone 4.

Others are a six-unit block of flats at No. 1 Mubi Close, Garki; two blocks containing 12 flats at Plot 1181, Thaba Tseka Crescent, Wuse II; and a standalone duplex at No. 18 Nile Lake, Plot 1271, Maitama.

The ninth property is a two-block building located at No. 5 Aguta Street, Garki, Abuja, currently occupied by the National Information Technology Development Agency (NITDA).

Mr Sylva, who is also a former governor of Bayelsa State, is currently at large. He is named in a 13-count charge filed by the federal government over allegations of a plot to oust President Bola Tinubu.