Jobs/Appointments
Oyo Guber: Adelabu to Resign as Power Minister, Gets Tinubu’s Blessings
By Adedapo Adesanya
The Minister of Power, Mr Adebayo Adelabu, is set to resign from his position in the coming days after a high-level meeting with President Bola Tinubu at the Presidential Villa, Abuja.
The development was confirmed in a statement issued by the Minister’s Special Adviser on Strategic Communications and Media Relations, Mr Tunji Bolaji, after the closed-door meeting on Tuesday.
“President Tinubu commended the minister for his dedication and the progress recorded, particularly in laying a strong policy foundation for the transformation of the power sector,” the statement read, adding that the President granted Mr Adelabu his “consent and blessing” to pursue his governorship ambition in Oyo State for 2027.
“In view of this development, Adebayo Adelabu is expected to resign his position as Minister of Power in the coming days,” the statement added.
At the meeting on Tuesday, Mr Adelabu presented a comprehensive report on his stewardship of the power sector over the past two and a half years.
He outlined key milestones recorded during his tenure, including efforts to stabilise electricity generation, strengthen transmission infrastructure, and implement reforms aimed at improving efficiency across the power sector value chain.
A major highlight of the engagement was the presentation of the National Integrated Electricity Policy (NIEP), alongside its Strategic Implementation Plan (SIP), as well as the Medium- to Long-Term Integrated Resource Plan for the power sector.
The minister, who’s an Oyo native, explained that the NIEP provides a long-term roadmap for achieving energy security, expanding electricity access, integrating renewable energy, and building a more resilient electricity system.
The SIP, on the other hand, serves as the operational framework detailing specific actions, timelines, and institutional responsibilities required to translate policy objectives into measurable outcomes.
The minister noted that the timing of his anticipated resignation reflects his commitment to addressing critical challenges in the sector and ensuring continuity in ongoing reforms before exiting office.
These include efforts to stabilise electricity supply amid recent declines in generation caused by gas supply constraints, pipeline repairs, and outstanding obligations to gas suppliers.
Mr Adelabu also expressed appreciation to the president for his support, reaffirming his commitment to the advancement of Nigeria’s power sector and national development.
His planned exit follows weeks of speculation surrounding his political future and compliance with a presidential directive requiring cabinet members with political ambitions for the 2027 elections to resign.
Rumours of his resignation spread around late March 2026, when a purported resignation letter circulated widely on social media. However, his camp denied the rumours.
Following the March 31 deadline reportedly set for political appointees, speculation intensified that Mr Adelabu had halted his governorship ambition, but he debunked the claim.
With the latest development, Mr Adelabu is expected to join the Oyo State governorship race under the All Progressives Congress (APC), where he will face strong competition from other aspirants within the party.
He had attempted governorship bids in 2019 and 2023.
He ran in 2019 as the candidate for the APC. Despite strong backing, he lost to Seyi Makinde. In 2023, after losing the APC primary to Teslim Folarin, he defected to the Accord Party to run as their flag bearer. He finished third in the general election.
By Aduragbemi Omiyale
In line with the 12-year tenure prescribed for non-executive directors of banks by the Central Bank of Nigeria (CBN), Mr Tony Elumelu will on August 21, 2026, cease to be chairman of United Bank for Africa (UBA) Plc.
The board of the financial institution at its meeting on July 6, 2026, has elected Mr Emmanuel Nnorom as the new chairman.
In a notice to the Nigerian Exchange (NGX) Limited, the lender said Mr Elumelu’s successor, a non-executive director of the company, will assume the new role on August 21, 2026.
Mr Nnorom is a chartered accountant with over 40 years of experience in banking, finance and audit. He brings to the role extensive leadership experience and deep institutional knowledge of UBA.
“I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit.
“I look forward to working with my colleagues on the board, management and our staff across all our markets to sustain UBA’s momentum and continue delivering long-term value to our shareholders, customers and stakeholders,” Mr Nnorom stated.
Commenting on his retirement, Mr Elumelu said, “Serving United Bank for Africa has been one of the great privileges of my career.
“UBA has a unique competitive position, across Africa and globally, and I leave the Board with great confidence in UBA’s future.
“Emmanuel Nnorom is a leader of integrity, experience and sound judgement, and I am confident that the Bank will continue to thrive under his leadership.”
The board thanked him for his visionary leadership and exceptional contribution to the growth, transformation and institutional strength of the UBA Group.
By Adedapo Adesanya
WACT-APM Terminals Nigeria has announced the appointment of Mr Courage Obadagbonyi as Managing Director, effective July 1, 2026, succeeding Mr Jeethu Jose and becoming the first Nigerian to hold the post.
The appointment reflects the organisation’s continued focus on developing strong leadership from within its global talent pool while ensuring sustained growth and operational excellence.
A seasoned executive with more than two decades of international experience, Mr Obadagbonyi has held leadership roles across finance, operations and general management at leading global organisations, including APM Terminals, General Electric and Lafarge.
Prior to this appointment, he served as Chief Financial Officer (CFO) for the APM Terminals Nigeria cluster, with responsibility for financial strategy across Nigeria and San Pedro, Côte d’Ivoire.
He also served in an acting capacity as Managing Director of APM Terminals Apapa between 2025 and March 2026, further strengthening his operational leadership experience.
With experience spanning sectors such as oil and gas, power generation, logistics and healthcare, Mr Obadagbonyi brings deep expertise in financial management, risk optimisation and business performance.
Speaking on his appointment, he said, “I look forward to building on the strong foundation already in place at WACT. The terminal plays a critical role in connecting businesses in Eastern Nigeria to global markets, and we will continue to focus on safe, reliable and efficient operations.”
On his part, the Chief Executive Officer of APM Terminals Nigeria, Mr Frederik Klinke, noted that the appointment reflects the company’s commitment to leadership development and long-term growth.
“Across APM Terminals globally, we see strong collaboration and talent development across our teams. This appointment reflects the depth of experience within our organisation and our continued focus on building capabilities that support sustainable growth. Nigerians have continued to distinguish themselves through exceptional performance and leadership. Colleagues from our Apapa and Onne terminals have contributed their expertise internationally while also bringing back valuable best practices to strengthen operations in Nigeria.”
He added that Mr Obadagbonyi’s experience would support the next phase of operational excellence and value delivery at WACT.
The outgoing MD, Mr Jose, said, “It has been a privilege to lead WACT-APM Terminals Nigeria during a period of meaningful progress. The team has built a strong platform for the future, and I am confident in the continued success of the organisation.”
West Africa Container Terminal (WACT)-APM Terminals in Onne, Rivers State, is one of Nigeria’s leading container terminals, having commenced commercial operations in 2006.
The company has continued to invest in capacity expansion and modernisation, including a $115 million terminal upgrade project launched in 2020. The upgrade also includes the deployment of reefer racks with a 600-plug capacity, as well as the expansion of the existing yard, a new workshop, a new terminal auto gate, modernised offices and state-of-the-art technology. These investments have enhanced efficiency, strengthened service delivery and reinforced WACT’s role as an important gateway for trade beyond Lagos.
By Aduragbemi Omiyale
A new member has joined the board of Unilever Nigeria Plc, and she is Mrs Modupe Femi-Okunbanjo, who was appointed as an executive director of the organisation.
Her appointment, according to a statement from the company, is effective June 30, 2026. It followed the resignation of Mr Ibrahim Sodipe as an executive director of the firm with effect from June 30, 2026.
Mr Sodipe was praised for his valuable service and significant contributions to the entity, particularly in driving improved turnover and profitability and supporting Unilever Nigeria’s continued progress towards sustainable and profitable growth.
Mrs Femi-Okunbanjo was described as an accomplished finance and governance leader who, for more than 15 years, has steered finance teams, shaped strategy, and strengthened risk management frameworks in the fast-moving consumer goods and telecommunications sectors.
She is currently the Financial Controller of Nigeria and Regional Controls Lead for West Africa at Unilever Nigeria, where she oversees financial governance, regulatory compliance, and enterprise risk management.
Her work has been pivotal in embedding ethical leadership and data-driven decision-making at board level, while ensuring organisations remain resilient in the face of shifting market dynamics.
The new board member has established a reputation for elevating financial reporting, advancing audit excellence, and strengthening governance frameworks, thereby positioning organisations for sustainable growth and long-term value creation.
In her previous roles, she has a consistent track record of delivering margin expansion, enhancing governance & control environments, and leading transformation in challenging macroeconomic conditions.
She is equally committed to developing future talent and advancing financial literacy among younger generations.
Prior to her joining Unilever Nigeria Plc in 2018, Mrs Femi-Okunbanjo held key roles at UAC of Nigeria Plc, Helios Towers Nigeria, and Makasa Sun Nigeria Limited, where she pioneered control frameworks from the ground up, eliminating revenue leakages, digitising operations and embedding financial discipline.
A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and a Member of the Chartered Institute of Management Accountants (CIMA), she holds a Bachelor’s degree in Accounting from Lagos State University and an MBA with Specialisation in Strategy from the Edinburgh Business School, Heriot-Watt University, UK.
