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Meet Nigeria’s Top Five Relevant Entrepreneurs

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By Eric Elezuo

Nigeria is a country blessed with entrepreneurs of high repute; men and women who can hold their own at any point in time, anywhere in the globe. However, there are entrepreneurs and there are entrepreneurs. Many fell by the wayside, many don’t live up to expectation and many others lose relevance in the cause of doing business.

Today, we serve you hot and fresh entrepreneurs that have inexplicable footprints in the sand of time.

ALIKO DANGOTE

Aliko Dangote is one Nigerian, who has the rare advantage of bagging the prestigious GCON honours, proudly reserved for vice presidents. He was born on April 10, 1957, and is the Chairman of the Dangote Group, which has interests in commodities. The company operates in Nigeria and other African countries, including Benin, Ethiopia, Senegal, Cameroon, Ghana, South Africa, Togo, Tanzania, and Zambia. As of June 2016, he had an estimated net worth of US$14.9 billion.

Dangote is ranked by Forbes magazine as the 67th richest person in the world and the richest in Africa; he peaked on the list as the 23rd richest person in the world in 2014. He surpassed Saudi-Ethiopian billionaire Mohammed Hussein Al Amoudi in 2013 by over $2.6 billion to become the world’s richest person of African descent.

The Dangote Group was established as a small trading firm in 1977. Today, it is a multi-trillion naira conglomerate with many of its operations in Benin, Ghana, Nigeria, and Togo. Dangote has expanded to cover food processing, cement manufacturing, and freight. The Dangote Group also dominates the sugar market in Nigeria and is a major supplier to the country’s soft drink companies, breweries, and confectioners. The Dangote Group has moved from being a trading company to being the largest industrial group in Nigeria including Dangote Sugar Refinery, Dangote Cement, and Dangote Flour.

In Nigeria today, Dangote Group with its dominance in the sugar market and refinery business is the main supplier (70% of the market) to the country’s soft drinks companies, breweries and confectioners. It is the largest refinery in Africa and the third largest in the world, producing 800,000 tons of sugar annually. Dangote Group owns salt factories and flour mills and is a major importer of rice, fish, pasta, cement and fertilizer. The company exports cotton, cashew nuts, cocoa, sesame seed and ginger to several countries. It also has major investments in real estate, banking, transport, textiles and oil and gas. The company employs over 11,000 people and is the largest industrial conglomerate in West Africa.

Dangote has diversified into telecommunications and has started building 14,000 kilometers of fibre optic cables to supply the whole of Nigeria. As a result, Dangote was honoured in January 2009 as the leading provider of employment in the Nigerian construction industry.

He said, “Let me tell you this and I want to really emphasize it…nothing is going to help Nigeria like Nigerians bringing back their money. If you give me $5 billion today, I will invest everything here in Nigeria. Let us put our heads together and work.” This explains why a refinery is being constructed in Epe area of Lagos to further provide Nigerians with employment, and for all these, Dangote remains a relevant entrepreneur.

TONY ELUMELU

A thoroughbred economist, Tony Onyemaechi Elumelu was born on March 22, 1963 in Jos, Nigeria. He is an also a visionary entrepreneur and a high grade philanthropist.

Tony, as he is popularly known, is the Chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation. He is a holder of the Commander of the Order of Nigeria (CON) and Member of the Order of the Federal Republic (MFR).

In 2011, New African magazine listed him as one of the 100 most influential people in Africa and a year later, he was recognized as one of “Africa’s 20 Most Powerful People in 2012” by Forbes Magazine.

Elumelu is the originator of the term Africapitalism. According to him, Africapitalism is an economic philosophy that embodies the private sector’s commitment to the economic transformation of Africa through long-term investments that create both economic prosperity and social wealth.

Elumelu sees Africans taking charge of the value-adding sectors and ensuring that those value-added processes happen in Africa, not through nationalization or government policies, but because there is a generation of private sector entrepreneurs who have the vision, the tools and the opportunity to shape the destiny of the continent. He insists that Africapitalism is not capitalism with an African twist; it is a rallying cry for empowering the private sector to drive Africa’s economic and social growth.

With Africapitalism, he has been able to draw African entrepreneurs together towards investing in Africa, and giving back to Africans. In the same vein, he has used his Elumelu Foundation to make entrepreneurs out of regular Nigerians. Tony Elumelu is a force to reckon with today, and on the lips of many African entrepreneurs today is the name Tony Elumelu Foundation.

JIM OVIA

A visionary businessman, Jim Ovia, born on November 4, 1951 founded Zenith Bank in 1990 when most people think less of investment because of the constant inflow of money. After gaining degrees at both Southern University and University of Louisiana at Monroe, he attended Harvard Business School.

Ovia served as CEO of Zenith Bank until 2010, when he transferred into the chairman role and left the everyday running of the bank to younger blood. He is also a recipient of a Nigerian national honor.

As an accomplished banker with over three decades’ experience, he introduced a great deal of innovations into the Nigerian banking industry. He is credited with establishing the now merged Visafone Communications Limited. He is also the Chairman of the Nigerian Software Development Initiative (NSDI) and also Chairman, National Information Technology Advisory Council (NITAC). He is a member of the Honorary International Investor Council as well as the Digital Bridge Institute (DBI).

Jim Ovia is a member of the Governing Council of Lagos State University, Lagos and also a member of the Board of Trustees, Redeemer’s University For Nations, Lagos. He was a member of the Governing Council of the Nigerian Investment Promotion Commission (1999 – 2007) and also served on the board of American International School, Lagos [2001 -2003].

MIKE ADENUGA

Michael Adeniyi Agbolade Adenuga Jr. is a best definition of shrewd and accomplished businessman. He was born on April 29, 1953, and reputed as the second richest person in Nigeria. His company Globacom is Nigeria’s second-largest telecom operator, and also has a presence in Ghana and Benin. He also owns stakes in the former Equitorial Trust Bank and the oil exploration firm, Conoil (formerly Consolidated Oil Company). Forbes has estimated his net worth at $10 billion as of 2016, which makes him second wealthiest Nigerian behind Aliko Dangote, as well as the second richest person in Africa.

In May 2015, Adenuga made a takeover bid to purchase Ivorian mobile telecoms operator Comium Côte d’Ivoire for $600 million.

FEMI OTEDOLA

Reputed for his humble disposition, Femi Otedola, a businessman, philanthropist, and chairman of Forte Oil Plc, an importer of fuel products, was born in 1962 to a former Governor of Lagos State, Sir Michael Otedola.

He is also the founder of Zenon Petroleum and Gas Ltd, and the owner of a number of other businesses across shipping, real estate and finance. He is the second Nigerian after Aliko Dangote to be included on the Forbes list of dollar-denominated billionaires. He has recently invested in power generation as part of the liberalization of the sector in Nigeria. His business investments include Zenon Petroleum and Gas, African Petroleum that later became Forte Oil in late 2010. He is also the owner of Swift Insurance. This he has his hands in among many others both home and abroad.

His staff base is overwhelming, and that makes him a relevant entrepreneur in the Nigerian business world.

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Emmanuel ‘Nuel’ Ojei: The Untold Story of the Unassuming Billionaire

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By Eric Elezuo

The name Nuel Ojei rings a bell loud enough for even the deaf to hear. His Exploits were manifold, unprecedented and humongous. He was a man of extreme means, a philanthropist of the superlative degree, famous business man, Chief Executive Officer of Nuel Ojei Holdings Limited, and not forgetting his identity as a power broker of repute. Yes, until he death, he was one of the deciders of political inclinations and power shifts.

But on December 27, 2025, the curtain fell on his extraordinary humanitarian efforts, his life, his activities on the physical earth and his benevolence to his immediate, extended and adopted families across the world. He was 74 years when he breathe his last on that fateful day, five months short of his 75th birthday.

Fondly known as Nuel Ojei, the businessman passed away that Saturday night in his hometown, Issele-Uku, in Aniocha North Local Government Area of Delta State, as confirmed by his son, Chuks Ojei, in a statement issued on Sunday, December 28, 2025, on behalf of the family.

He described the loss as a profound shock and an irreplaceable personal tragedy.

The statement read, “With a heavy heart, I confirm the passing of my beloved father. His death came as a profound shock to our family following a brief illness.

“Words cannot fully capture the depth of our pain at this moment, as we struggle to come to terms with the sudden loss of a man who was not only our father but our strength, teacher, and moral compass.

“My father was more than a businessman; he was a builder of lives and legacies. A distinguished Nigerian industrialist, entrepreneur, and business magnate, he served as the Founder, Executive Chairman, and Chief Executive Officer of Nuel Ojei Holdings Ltd.

“Through discipline, resilience, and uncommon wisdom, he built enterprises that created opportunities, inspired excellence, and contributed meaningfully to national development.

“To many, he was a mentor and leader of rare integrity. To us, he was a loving father whose counsel guided our steps and whose values shaped our lives. He led with humility, strength, and compassion, touching countless lives across generations.

“His absence leaves a void that can never be filled, but his teachings and example will forever remain our guide. Though his passing signals the end of a remarkable chapter, his legacy lives on in the institutions he built, the people he mentored, and the values he upheld.

“He is survived by his children, family members, and a wide community of friends, associates, and admirers who will continue to honour his memory.

“On behalf of the Ojei family, I humbly ask for your prayers, love, and support during this time of deep grief. Funeral arrangements and further details will be communicated in due course. An icon has fallen. A father is gone. His legacy will live forever.”

The story of Nuel Ojei is that of accomplishment, fulfillment and a typical example of I came, I saw, I conquer. He was part of everything he met. He didn’t just mentor folks, he saw them through from.scratch to finish; in business, politics and other aspects of life. He was the dreamers light.

Perhaps Nuel Ojei would still have been alive today as contrary to popularly held view, he was not under the strain of any undisclosed illness, was hail and hearty prior to his traveling to Asaba, then to his hometown, from where he returned to his maker. This is if, according sources, he not insisted on traveling to his hometown to celebrate the Christmas with his wife and family, whom he missed so much, contrary to his German doctor’s instruction.

Sources told The Boss exclusively that Ojei, who left Nigeria for Spain on December 10, returned to Abuja on December 22, and insisted on traveling to Asaba to join his family even when the doctor told him it wasn’t proper considering that he was under serious stress and fatigue. But he insisted, saying he missed his wife, who she has not seen close to a month, and would wish to spend the Christmas with the family. It was during his holidays at his country home that he asked away.

Nuel was one business minded individual, who began his business craft very early in life, hitting limelight in his 20s, becoming a millionaire, and buying his first house at the age of 29. He was already a big boy when he founded Nuel Ojei Limited in 1989, nurtured it in the early stages of vehicle distributorship with Rutam Motors, sole agent for Mazda, and partnership with Mercedes Benz, till it became a conglomerate.

In 1999, as Nuel Holdings was expanded, as he was diverting into many other enterprises, he bought the magnificent edifice at Mobolaji Bank Anthony Way, Ikeja, towards the airport, which was a furniture company. Honestly, the billionaire has a penchant for airport axis as Nuel Ojei Holdings head office in Abuja, sits glistening in the uphill sun, facing the Nnamdi Azikiwe Airport. Report has it that he bought the Ikeja property at a whooping cost of N1.2 billion in 1999 from the Labanese. With about four very gigantic warehouses therein, his furniture business kickstarted, and continued to make waves. Nuel is blessed with the Midas touch, and so every of his businesses has received the growth syndrome.

A cross section of individuals, who spoke to The Boss, confirmed in no few words of how lavishly benevolent the entrepreneur par excellence was.

“His giving was not limited. He gave to all and sundry; whether you already have or not,” a beneficiary confided in The Boss.

Those who know Ojei in his lifetime believe he was richer than any rich man in Nigeria today. “What Nigerian billionaires have is not money compared to Ojei’s solvency. He was very rich, and spends it without a care for the good of humanity,” a source told The Boss.

Among the many properties he has scattered across the world include houses in various capitals in Nigeria vis a vis Lagos, Abuja, Port Harcourt and more. He also has houses in France, from where his two private jets operate, Germany and other parts of the world. In addition, he boasts of the most expensively and expansively constructed edifice in the world, situated in his Isele Uku, Asaba, Delta State locality.

The sprawling edifice, which took about six years to construct, is a the palace of some sort, fit only for royalty. It is situated on a 35-dunam (roughly 10-acre) plot near the village of Issele-Uku in the Delta state, and covers an area of 12,000 square meters. A brief description of the masion has it that it is divided between a basement, an entrance floor and a residential floor, and among a large number of buildings, including a servants’ house and an entry pavilion used by the security guards.

In addition to all other qualities the gigantic house can boast of are cinema hall, discotheque, hair salon, bowling alley and separate 350-square-meter suites for the couple (Ojei and wife), as well as a selection of guest suites. It also has its own water-purification system and electrical generator.

In his garages are states of the art vehicles including Rolls Royce, Hummer jeeps, Mercedes Benz of various luxurious makes, Range Rovers, G-wagons…just name it. Sources say the number of automobiles in his Lagos home garage alone exceed 50. That’s how super wealthy Ojei was.

Born Emmanuel Isichei Ugochukwu Ojei on May 23, 1951 to military officer, who was during his time in the army superior to a onetime Nigeria’s Head of State, Nuel had both primary and secondary education in the locality of his birth, Lagos before relocating to his hometown attend the Issele Uku Technical College, Issele Uku, between 1970 and 1972. He obtained a National Diploma in Business Administration and Management in the bargain.

It was after the ND education that he concentrated on personal building, business-wise, and returned to Lagos, and took up a job as a Sales Executive at Rutam Motors Ltd, owned by the Ibru Family, known for their super wealth.

In 1976, he left the job after attaining the position of Sales Manager. He thereafter joined Kapital Assurance Ltd in 1977, and rose to become a Director.

With hands in so many pies, Ojei learnt the craft of mastering all endeavours. He was into supplies of military wares during the 1980s, banking, and was reputed to once owned a bank, insurance, construction and telecommunications.

His interest in the oil and gas industry was limitless as he is said to own three oil blocks, and had stakes in solid minerals, telecommunications, safety and security, as well as shipping and ship building. He was a master of all.

The story of Ojei is a case study, a reference point and a research material. He was one Nigeria, who said very little, but recorded and achieved so much. He mentored numerous persons, who are spreading wealth as well across the length and breadth of capacity development and transfer.

The NOH identity is a focused, determined and committed brand that Ojei had used to affect humanity.

As wealthy as he was, he married only one wife, and is blessed with five great children, who are living the dream in its clear 8-letters of positive.

It must be noted as well that Ojei’s must treasured belonging other than his family, is the honorary doctorate honours he received from the Delta State University for his business acumen and impact on humanity. To him, that award is from home, and when your home identifies with you, you have nothing to worry about.

Emmanuel Isichei Ugochukwu Ojei may have bowed out physically from the earth, but the legacies, he systematically created will live for generations and generations to come. He was not consistently in public view, but worked assidously behind the curtains to put laughter on the lips of so many individuals across the world.

May his industrious soul find rest in the bosom of the Lord…Amen!

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Hon Jumoke Okoya-Thomas Becomes Otun Iyalode of Lagos

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By Eric Elezuo

In recognition of her wholesome performances and contributions to governance in Lagos State, the Oba of Lagos, also known as Eleko of Eko, Oba Rilwan Akiolu, has conferred a deserved chieftaincy title on former lawmaker, APC leader and prominent female politician in Lagos State, Hon Olajumoke Okoya-Thomas.

The notable woman-leader is now the Otun Iyalode of Lagos; an important traditional stool in the cultural affairs of Lagos, and the ancient city couldn’t hold its joy as it rolled it the drums in celebration.

With an avalanche of dignitaries, nobles and political giants from across the socio-economic strata of Lagos, the Iga Idunganran residence of the paramount ruler of Lagos, became another excursion site, unleashing deep-rooted culture, excellent camaraderie and impressive display of ingredients that make Lagos, popularly known as Eko thick.

The gathering boasted of the likes of Otunba Gbenga Daniel, Sir Kesington Adebutu, Prince Samuel Adedoyin & wife, Pastor Ituah Ighodalo of Trinity House, Speaker of Lagos State House of Assembly, Rt. Hon Mudashiru Obasa, Governor of Lagos State, Mr. Babajide Sanwolu & wife, Chairperson, Diaspora Commission, Mrs. Abike Dabiri-Erewa, Chief Mrs Sena Anthony, Mr Ladi Adebutu, Mr Segun Adebutu, Firstlady of Ogun State, Mrs Bamidele Abiodun, HRM Oba Abdulwasiu Omogbolahan Lawal & Olori Mariam, HRM Oba Ibikunle Fafunwa Onikoyi, Alara of Ilara Oba Olufolarin Ogunsanwo, Olugbon of Orile Igbon, Oba Francis Alao & Olori, Chief Mrs Bisi Abiola, Olori Vicky Hastrup, Senator Sade Bent, Deputy Governor of Lagos State, Mr Babafemi Hamzat and Mr Tope Abere.

Others include Hon Kafilat Ogbara, Alhaji Tajudeen Okoya and Chief Durisimi Etti, who were also conferred with various chieftaincy honours.

As Hon Okoya-Thomas stepped out in grace, clad in all white, and adorned with precious ornaments; symbol of her royalty, the Oba was on hand to dish out the ‘sayings’, with the assistance of his white cap chiefs, that bestowed on her the powers and privileges of the Otun Iyalode.

Thereafter, a sumptuous reception was held at the Condo, Airforce Base, Victoria Island, where guests were treated to the best of entertainment ranging from good food, good music, good beverages and good networking under the very hilarious guidance of popular MC, Tee A. It was a night of solidarity for a woman, who has and is still giving her best to humanity and to society.

The atmosphere did not experience a dull moment as popular musician, Ayo Balogun serenaded the audience with soulful sounds, creating an environment, where the celebrant and her guests shuffled unhindered to the smooth ride of powerful renditions.

Earlier, and prior to the event, President Bola Tinubu had sent a heartwarming congratulatory message to the former lawmaker, who many believe is a highflyer and prominent Lagos politicians, wishing her well with regards to her double celebrations including her birthday on January 20, 2026, when she turned 69, and her receiving of the prestigious Otun Iyalode title, four days after.

In the statement signed by his Special Adviser, Information and Strategic, Bayo Onanuga, President Tinubu noted that “Jumoke Okoya-Thomas, the All Progressives Congress Women Leader in Lagos State, represented Lagos Island Federal Constituency in the House of Representatives for three consecutive terms, from 2003 to 2015.

“President Tinubu commends Okoya-Thomas for her contributions to the state and for her consistent efforts to increase women’s participation in politics and governance.

“The President also notes her chieftaincy title of Otun Iyalode of Lagos, describing it as appropriate and fitting, given her commitment to women’s empowerment and support for traditional institutions in Lagos.

“President Tinubu wishes Okoya-Thomas long life and good health, even as he prays for a successful chieftaincy ceremony.

THE JUMOKE THE WORLD KNOWS

Born of palatial privilege, Jumoke is the daughter of Chief Molade Okoya-Thomas, the Asoju Oba of Lagos. She was born on January 20, 1957, and has a diploma in Senior Managers in Government from the University of Lagos and a Diploma in Secretarial Administration from Burleigh College.
On three occasions since 2003, Olajumoke Okoya-Thomas has represented the good people of Lagos Island Federal Constituency in the House of Representatives. Her legislative interests has been defined as primarily as dwelling on the Social Development of Women and Children. During her sojourn in the House, she was the Chairman of the Committee on Public Procurement and also member of committees on Banking & Currency, Diaspora, Niger Delta and Women in parliament. Before then, she was the chairman of the House Committee of Prisons.Among her achievements during her tenure, Okoya-Thomas sponsored a bill on the compulsory breast feeding of babies in 2013. The bill however, could not be actualised because the Representatives insisted that it is an issue best left out of the public domain as “no woman has to be forced to breast feed her child” though they admitted the unarguable health benefits of breastfeeding. She is also the women’s leader of The All Progressive Congress in Lagos State.

As the new Otun Iyalode, a high ranking female chieftaincy title in Yoruba, Okoya-Thomas is saddled with the responsibility of performing leadership roles as well as being the spokesperson for all women in the community. S

She is also expected to play crucial roles in mediation of disputes, especially those involving women. She will participate in legislative functions and decision-making processes concerning the town’s welfare. These are responsibilities the all-experience former lawmaker is endowed with.

We therefore wish Madam Olajumoke Okoya-Thomas a happy 69th birthday, and gracious tenure as she navigates through the tasks of Otun Iyalode(ship).

Congratulations ma!

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On a Mission to Rescue, Recover and Reset Nigeria – Soundbites from Dele Momodu’s Official Entry into ADC

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By Eric Elezuo

The gathering was loud, impressive and purposeful as veteran journalists and Chairman, Ovation Media Group, Chief Dele Momodu, began another political journey of rescue, restoration and resetting of Nigeria with a grand declaration ceremony in Benin City, Edo State.

In his speech, Momodu informed that his interest is purely to serve the interest of Nigerians, shunning any form of call to contest either the senatorial or governorship seat.

Noting that his formal aligning with the ADC is far from personal ambition, he stressed that he is on a mission to help end the drift towards a one-party state.

Momodu, who said it took him years to reconnect with his homestead, added that the declaration for ADC marked a deeply personal and political homecoming after decades of self-discovery and professional life outside his ancestral roots.

He said, “Officially set to declare for the African Democratic Congress. It took me a long time, over 30 years, before I could discover my ancestral home,” Momodu said.

“Let me thank one of my fathers who is present here today, Senator Isa Raymond. From the very first day he met me, he adopted me as a child. When I came home for the first time, he coordinated everything.”

Reflecting on his years abroad, Momodu spoke of the effort it took to establish himself economically in the United Kingdom, saying this had given him both stability and perspective.

“It took me over 50 years, you won’t believe it, of excruciating hard work and meticulous planning to plant roots for my modest income,” he said.

“Today, nobody can say I have no roots. But today, I am standing before you as I firmly reintegrate myself into the political process of my state.”

Momodu dismissed speculation about any immediate personal ambition for elective office, stressing that his political engagement is broader and more ideological.

“People have asked me, ‘What do you want? Do you want to be governor or senator?’ No, I just want to promote the best interests of our people.”

Describing his decision to formally take up ADC membership as a critical step, Momodu said: “It is hard to imagine the pride I feel at this moment as I undertake my self-led event in DC to pick up the membership card of the African Democratic Congress, ADC, the new opposition coalition in Nigeria, Africa’s most populous nation. This is only the first and most important leg of this political journey.”

He outlined what he described as his core political mission, warning against political domination by a single party.

“My mission in politics is to join hands of fellowship with citizens of like minds to rescue, recover, and reset Nigeria,” Momodu said. “Nigeria must be rescued from a one-party state and one parliament.”

In a lighter moment, he added: “I don’t think they manufacture people like Baba Eke in heaven.”

Momodu said the success of the political journey ahead would depend on the commitment of Nigerians who are dissatisfied with the current direction of the country.

“This journey will require the total commitment of the majority of Nigerians who refuse to be enslaved in their own country.

“I am eternally inspired by our leader and father, Zipzon Oyebu, for his judiciousness, resoluteness, and sacrifice for the well-being of our nation. Thank you, Baba.

“Thank you all for your love, because for people to leave their homes and offices to be here on a weekday is not a joke. I promise you, I do not think it is a joke.”

A former presidential candidate, former presidential aspirant, teacher, inspirational speaker, actor, media guru and entrepreneur, Dele Momodu is a complete package of astuteness, enigma and ready-to-deliver personality, who has contributed immensely to the growth and development of his motherland.

Momodu is not new to political discipline and maneuver. Recall that the much traveled global citizen contested the presidency in 2011, where he represented the National Conscience Party (NCP), and was a presidential aspirant in 2022 under the umbrella of the PDP.

Momodu’s trajectory in the political terrain dated back to the Second Republic, when he functioned as Private Secretary to Chief Akin Omoboriowo, the then deputy governor of Ondo State. He was also prominent in politics during and after the much talked about June 12, 1993 era. His relevance and intellectual capacity in politics speak volumes, climaxing in the fact that his wealth of experience will be an added advantage to the ADC family.

Momodu’s entry into the ADC is expected to boost the coalition’s visibility towards creating more impact and positioning the party for the all-important duel with the APC come 2027.

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