Headline

Pendulum: Why Nations Fail, The Sad Story of Nigeria

Published

7 years ago

August 11, 2018

Eric

By Dele Momodu

Fellow Nigerians, our dear beloved country is at some dangerous crossroads again. Those who know how to pray should offer supplications to God urgently because, our stubbornly arrogant, and sometimes impetuous, politicians are about to set Nigeria ablaze, igniting a possible conflagration the type of which we have not seen in a long time. For anyone following my column, I have pleaded endlessly for decorum, tolerance, patience and simple common sense at all levels and tiers of government. Somehow, my strident appeals have largely gone unheeded. It is obvious that some powerful forces are hell-bent on having their way by fire, by force, whether they be right or wrong! It is sad that many of our leaders on both sides of the fence have not learnt any useful lessons from even our contemporary history.

Let me break it down to brass tacks. The current imbroglio is as a result of what started in 2015, when Senator Bukola Saraki seemingly outsmarted members of his party, APC, and combined with members of the opposition party, PDP, to fulfil his burning ambition to become the Senate President of the Federal Republic of Nigeria. Depending on which side of the political divide you belong, members of APC felt totally cheated and accused Saraki of the worst treachery possible, moreso, when, a member of the opposition, Ike Ekweremadu of PDP, emerged Deputy Senate President. In case you have forgotten how it all happened, please permit me to refresh your memory.

On D-Day, members of APC had gathered somewhere else, the International Conference Centre in Abuja, it was said, to deliberate, and strategise, on candidates to back for various offices of the National Assembly, especially that of the President of the Senate and Speaker of the Federal House of Representatives. Obviously clever about how politics works and the various deals that they had sealed with other members of the respective Houses of the National Assembly, Saraki and Yakubu Dogara did not join their party caucus at the meeting because of the realisation that they were not being considered at all, despite the great work they and others did in support of Major General Muhammadu Buhari (retired) becoming President. In the end, they both prevailed comfortably in attaining the positions that they sought in the National legislature to the chagrin of their party caucus and party leaders. There is still argument and debate as to the role of different APC party leaders, including the President (who neither said yes nor no explicitly when Saraki mentioned his interest in Senate Presidency to him), in the emergence of the two men as Senate President and Speaker respectively. What is clear is that there was omission and commission, complicity and aloofness, even maybe indifference in some quarters about the Principal officers of the Senate once the Holy Grail of the Presidency had been secured. I will not belabour you with what I saw as an active participant and eye-witness except to say that all parties played for high stakes and in the end some people won and some lost. However, I must re-emphasise what I said, on this page and in a Vanguard interview at the time, that the APC apparatchik should count their losses, move on and allow peace to reign. In a game, only one team can win, fair or foul.

The reluctance, nay, stoic resistance, of APC to let this matter pass, as I recommended, is now likely to be the albatross of the party. If care is not taken, and APC continues to insist, as they are doing, and have done, for over three wasteful years, that they must enforce regime change at the National Assembly, barely months to critical State and national general elections, the party may be heading towards Golgotha or Waterloo. I will like to make this special appeal to my big Brother and former Governor, Adams Oshiomhole, please, stop the grandstanding, embrace peace and the rule of Law and focus on the long game rather than the short play. You cannot achieve your desire by compulsion or coercion in a democratic political terrain. There is always give and take in all situations. The people you are dealing with are not mere school kids while you are the headmaster.

In the case of Saraki, it is obvious that you can only constitutionally remove him very easily if you have 73 Senators on your side. Nothing short of that number will do. Anything else is a pipe-dream and I do not see you a dreamer, let alone an unrepentant fantasist or somnambulist! Indeed, if you can land a big fish like Akpabio into your net, it shouldn’t be too difficult to ensnare more Senators. It is easier to use EFCC than to use DSS or the police. EFCC seemingly remains the only striker in this big league. If that fails, I will recommend a title of a James Hadley Chase novel, ‘The Whiff of Money’. Some millions of crispy million dollars can perform the magic for you and your party. What have we not seen before in Nigeria? However, you should also note that it is impossible, or unlikely, for politicians to visit the washroom and not leave some tell-tale signs behind.

Only pursue this agenda, I have described above, if that is the way you now envision the Nigeria of your dreams. But remember the integrity and incorruptibility of the President and Vice-President, Muhammadu Buhari and Yemi Osinbajo, that you have been selected to sell when you decide your options. I will suggest that to attempt another round of trying to impeach anyone with less than the number of Constitutionally recommended votes is to bring the roof crashing down.

It should be obvious by now that Nigerian Democracy has advanced beyond where it was years ago when Governors could be impeached inside hotel rooms by fewer than the constitutionally required number. Those days are gone and whosoever wants to return us to those inglorious days should have a rethink. We have our noble judiciary to thank for this because they have stood firm and resolute in the face of intimidation, coercion and even blackmail. Our judiciary is the first to recognise that a few bad eggs lurk within their midst, but they have always found ways of purging themselves and forging ahead. Their defense of our national interest, in the light of some of the determined onslaught they face, is to be commended. This is particularly because their hallowed status sometimes makes it impossible for them to embark on their own defence in the same manner as their traducers have sought to cast them with infamy and shame.

I have no doubt that the present members of the National Assembly are unyielding and ready to do whatever it takes to defend themselves against external and internal aggressors. To date there has been a distinct united front presented by the legislators, save for a few errant members who appear to be pursuing selfish or extraneous interests, which is to be applauded.

No one has said that Saraki, who is the prime target of APC, cannot be removed. All that is being said is that it should be done without all this drama and fuss, and it should be done in line with the Constitution. This charade that we are witnessing has ceased to become tedious but is now sorely irritating because there are a lot more fundamental issues to contend with in the polity than the issue of who is Senate President or Speaker or which party they belong. Even Saraki himself has said publicly that he would bow out gracefully the day two-thirds of his colleagues tell him to go home. That should be a sweet challenge and revenge to APC that wields the power of life and death today. As I have pointed out the party can choose the corrupt way, abusing the several executive offices at its command to achieve this end or they may choose the part of honour and try moral suasion and gentle persuasion.

After the disgraceful invasion of the National Assembly by the DSS last Tuesday, I became assured that APC had reached a dead-end and there was no more card to play. The spurious position of government apologists that Saraki had the head of the Department of State Security, Lawal Daura, in his pocket is too strange, beggars belief and is unbelievably difficult to comprehend or accept. In fact, that line of thought stands logic on its head. The contention that only PDP members were present at the National Assembly and that no APC member was around is not exactly correct. At least, I saw one, my dear friend, Hon. Ehiozuwa Agbonayinma, who was booed by those sympathetic to Saraki and Dogara.

The truth is many journalists were already informed the night before that an attempt would be made to impeach some key members of the National Assembly. It was said that APC members would rush in early in the morning and finish the job pronto. But as always, Saraki, the “Illuminati”, as some guy described him on social media, was ahead of the game. He amassed his team-mates ready to resist and repel any such attempt. If journalists were aware, it is only natural that the legislators directly affected would also be aware. There was nothing sinister in their being present in great numbers. Indeed, this is what makes it plain that APC members were also privy to this invasion and that some of their leaders were probably involved in orchestrating it because they would also have heard about it one way or the other. If they thought it was an attempt by some Senators to impeach the President as is being touted or create some drama as others allege, surely they would have turned up to give a lie to all this scheming and prevent it from being a success. As to why APC members were not around, the answer is easy. APC members were meeting at a different location and probably working on getting sufficient numbers to impeach those they wanted to drive out of the National Assembly leadership.

I watched on television as Senator Ben Murray-Bruce was visibly angry that they were not allowed to enter their offices and was rhapsodising and threatening the wrath of international super powers on those anti-democratic forces plotting to endanger democracy in Nigeria. I also watched the suicidal drama of Hon. Boma Goodhead, of the Federal House of Representatives as she barked orders at a fully-hooded, gun-toting secret agent, asking that she be allowed to go to her office or be shot. She is a member of PDP. Why would she take such a kamikaze risk if the security guys were around to facilitate their entry? The DSS scandal backfired big time and even those opposed to Saraki felt scandalised by the development. “Why resort to self-help?” everyone wondered. There is another serious and potentially more damaging angle to the suggestion Saraki pocketed the DSS and arranged for this invidious debacle. How did our intelligence community and security services not cotton onto what was happening, and prevent it, so that the country would not be a laughing-stock? The troop movement which the invasion entailed could well have heralded a coup, where were the rest of our security services? This leaves a lot to ponder upon. One wonders how many were complicit and whether Daura has not simply become the proverbial fall-guy and scapegoat? The Daura that I interacted with at the Institute of Security Studies, Bwalri, Abuja, last year did not look like someone who would sell his supposed godfather, President Buhari, out.

What seems plain to me is that there is a rogue element (call it the cabal, if you wish) within the present government, which does not feel that it is beholden to any constituted authority or that it needs to consult much less seek the approval of Presidency before it embarks on dastardly raids and incursions like this. Having seemingly succeeded with the invasion of Judges homes, this group felt emboldened enough to go as far as openly breaching the National Assembly and everything it stands for in this democratic dispensation.

I don’t think Nigerians would worry about who the National Assembly removes or decides to replace but it must be done according to the rule of Law. If the masses don’t know better, I can understand. However, the insults heaped on Saraki, the number three citizen of Nigeria, yesterday, by the national Chairman of APC, Adams Oshiomole, was totally uncalled for and unbecoming. It was too personal and demeaning. It can only harden the Saraki camp to fight all the way. Who knows tomorrow? Power is very transient. All these guys were friends, once upon a time.

This battle is not for the emancipation or betterment of Nigeria or the greater well-being and improvement of Nigerians, but about who controls the biggest wealth of Nigeria, and the re-election of a President they want to use as staircase and stepping stone to fame and fortune. For both parties, it appears that governance is no longer a priority. Everyone is fighting for control of power and resources. It is such a monumental tragedy that we, the general public, seem so helpless about the recklessness of our political leaders. I’m currently reading a book titled WHY NATIONS FAIL, THE ORIGINS OF POWER, PROSPERITY AND POVERTY by Daron Acemoglu & James A. Robinson and I can see some symptoms afflicting Nigeria very clearly.

Something tells me, we are playing with fire…

Headline

I’m Not Joining You in SDP, Lamido Tells El-Rufai

Published

24 hours ago

March 17, 2025

Eric

A former Governor of Jigawa State, Sule Lamido, has rejected Malam Nasir El-Rufai’s call for opposition leaders to join the Social Democratic Party (SDP).

El-Rufai, who recently joined the SDP after dumping the ruling All Progressives Congress (APC), appealed to opposition leaders in an interview with the BBC Hausa.

Although he did not mention Lamido’s name, the former Governor of Kaduna State invited key opposition figures, including Atiku Abubakar, Peter Obi, Rotimi Amaechi, and Rauf Aregbesola, to join the SDP.

Responding to El-Rufai’s call in a separate BBC Hausa interview on Sunday, Lamido described the former governor’s invitation as an insult, saying the PDP laid the foundation for El-Rufai’s political career.

“The party we formed, the PDP, is the one that gave birth to El-Rufai. You’re not enough to make us leave the PDP,” Lamido said.

He added: “He once said that there are no adults in Nigeria in politics, but now he is calling on us to join him in the SDP.”

Lamido also questioned El-Rufai’s motive for dumping the APC for the SDP and his leadership style.

“Leadership is done with patience and vision, and doing things for the peace of the followers and the country as a whole,” the PDP chieftain said.

Restating his loyalty to the PDP, Lamido said the opposition party has not done anything to warrant his defection.

“If I was going to leave the PDP, I would have done so in 2014 when the APC was formed,” he said.

Lamido also enjoined El-Rufai to put patriotism first instead of showing anger towards others.

He said: “What should be done is to put patriotism first, instead of showing anger towards someone.”

“The PDP has been working to rebuild its strength after losing the 2015 presidential election,” he concluded.

Headline

Siminalayi Fubara: A Governor in Limbo

Published

2 days ago

March 16, 2025

Eric

By Eric Elezuo

This is not the best of times for Rivers State Governor, Siminalayi Fubara, as the political crises in the state is speedily threatening to drown his incumbency.

The governor, who had talked tough in the last 18 months when the friendship between him and his political godfather, who is the immediate past governor of the state, Nyesom Wike, unceremoniously collapsed. The two men have since been on each other’s jugular over the control of the state, both in party structure and administrative mechanism. While the governor is fighting with the weapon of his executive powers, Wike is remote-controling Martins Amaewhule and his 26 loyal lawmakers to his advantage as his own weapon of warfare in the infamous war of supremacy in the state.

Today, after 18 months of unpleasant ups and downs, the Wike camp has secured an upper hand with the verdict on February 27, 2025, of the Supreme Court, which practically gave Wike and his team judgment, leaving Governor Fubara in the cold of uncertainty, waving in limbo, eating a humble pie and offering the olive branch in the war of attrition. Of course, Wike and his gang has conscientiously rejected the peace deal.

“All Wike and the 27 lawmakers and their supporters want is the tag ‘former governor’ to be attached to Fubara’s name. Nothing short of that. They want him impeached, and are doing everything humanly possible to see it happen,” a source told The Boss.

On Friday, February 28, 2005, the Supreme Court on made landmark pronouncements that placed Governor Fubara on the receiving end, and giving Wike and his supporters victory in what seem to be a foreclosure in the game of throne that paralysed the political and administrative existence of the state since inauguration in 2023.

Speaking to The Punch, on the excitement exhibited by Wike on the pronouncements, the PDP Deputy National Youth Leader, Timothy Osadolor, said, “Wike and the House of Assembly members should manage their egos to ensure the people of Rivers State do not suffer. Wike was almost pushed out of politics by Governor Fubara; he was almost turned into a neophyte. This would have caused a ruckus in Abuja. His rejoicing is not out of bliss. He rejoiced because he has his life back home. That was the essence of Fubara’s fight—to not only demystify him but to render him homeless.

“Wike’s excitement about this judgment is understandable, as he was almost gone. Whatever Fubara has done is not alien to politics.”

The apex court judgment stopped the Central Bank of Nigeria (CBN) and the Accountant-General of the Federation from releasing funds to the Rivers State Government until the Rivers House of Assembly is properly constituted in accordance with the 1999 Constitution.

It further affirmed the Martins Amaewhule-led Rivers House of Assembly members as valid members of the house, and Amaewhule, the authentic speaker.

The apex court, in a 62-page judgement on the case against the lawmaker (SC/CV/1174/2024) held that there was “no iota or shred of evidence” to support the claim that the lawmakers defected from the Peoples Democratic Party to the All Progressives Congress (APC).

The pronouncements were made by a five-member panel of the Supreme Court, in a unanimous decision delivered by Justice Emmanuel Akomaye Agim, declared that no money should be released to the Rivers State Government until a lawful Appropriation Act is enacted in the state, thereby affirming the judgment of the Federal High Court that initially barred the state’s allocation of funds.

Earlier, Justice Joyce Abdulmalik of the Federal High Court in Abuja, on October 24, 2024, had in a judgment issued an order barring the Central Bank of Nigeria from further disbursing monthly financial allocations to the Rivers State Government.

The trial judge, in her ruling, also stopped the Accountant-General of the Federation, Zenith Bank, and Access Bank, where the state holds accounts, from releasing funds to the government.

Justice Abdulmalik had declared that the Rivers State Governor, Siminalayi Fubara’s receipt and use of the state’s monthly allocations since January 2024 constituted a violation of the constitution that cannot be permitted to continue.

Meanwhile, delivering judgment in the appeal brought before it by the 27 lawmakers, Justice Agim set aside the Court of Appeal judgment, which earlier nullified the Federal High Court judgment on grounds of lack of jurisdiction and restored the trial court’s decision.

He said, “The judgment of the Federal High Court is hereby affirmed.”

The apex court also declared, “The Rivers State allocation fund is to be seized until they purge themselves of all the shades of unconstitutionality.”

Meanwhile, recalling the Appeal Court judgment that lambasted Fubara for presenting the 2024 budget before the four Assembly members, Justice Akomaye described the governor’s actions as “bigamy.”

The apex court, in its judgment, agreed with the trial and appellate courts, which declared the presentation of the 2024 budget before 4 out of 31 members of the house as a nullity.

Not only did the court nullified all the structures that sustained Fubara’s administration, it lambasted the governor, thoroughly reducing him to a laughing among Wike and his followers, berating him for breaking down the Rivers State House of Assembly building as a way to stop the defected 27 lawmakers from sitting, thereby forcing them to sit outside to carry out their lawful activities.

The justices said it is a regular occurrence for those in executive power who feel threatened that their seat is being taken or is about to be impeached to resort to actions like demolishing buildings and other acts of bigamy.

The court held, that “Four members sitting as purported members of the House of Assembly in disobedience to the subsisting order of the court is a nullity.”

The court added that the legislature represents the fulcrum of the Assembly and must be protected at all costs.

Justice Agim ordered that the Clerk and Deputy Clerk, who were unlawfully redeployed out of the House of Assembly, be allowed to resume work alongside the House of Assembly workers.

The court even awarded N5 million court against Fubara, saying that his actions were ‘a joke taken too far’.

“The Supreme Court spoke as if it was reading a script written by FCT minister, Nyesom Wike. The arguments and conclusions did not in anyway take into consideration of the prayers of Gov Fubara. It sounded more like the judgment that validated the Tinubu election, and of course the resolutions of the peace brokered by Tinubu in 2024,” the source further said.

But while the Fubara camp are going cap in hand in search if peace, the Wike camp has been proving heady, rebuffing every approach towards settlement.

In a press conference with selected journalists, and media houses, Wike spoke with zeal and confidence, rebuking Fubara and his government, and supporting members of the assembly for locking out the governor when he came to present the budget in as much as they had earlier issued a 48-hour ultimatum to the governor to present the budget.

“Politics is not play. If he has done something to be impeached, let them impeach him. It’s not a criminal offence,” Wike had said as a matter of factly, suggesting the intention of the camp to impeach him.

Wike, appearing to be the spokesperson for the Amaewhule-led Assembly, also criticised Fubara for choosing to send a public letter rather than directly contacting the Assembly Speaker and his team by phone to arrange a private meeting.

He argued that the lawmakers were not Fubara’s subordinates and deserved to nbe treated with respect.

Fubara had, in his bid to seek peace, invited the lawmakers to a meeting on Monday, March 10, 2025, in a letter signed by the Secretary to the Rivers State Government, Tammy Danagogo.

Even the factional chairman of the APC in Rivers State, Tony Okocha, attacked Fubara, asking him to resign from office or be impeached.

But in a twist of events, the state boils again with threats from the Ijaw nationalities, to blow up oil installations should Fubara be impeached; a threat Wike dismissed as ‘rubbish, nonsence’.

While the impeachment the pro-Wike lawmakers, comprising majority of the assembly members, 27 in number, are seeking, is a tall order, taking into consideration a few variables not in their favour, Fubara is exploring every option to ensure that impeachment is never put on the table. As a result, putting aside the disgrace of being locked out of the assembly quarters, the governor has promised to re-present the budget in fulfillment of the Supreme Court order, choosing Wednesday March 19, 2025, or any other date in March, the lawmakers might choose.

The governor, in a letter dated March 13 and addressed to the Speaker, Martin Amaewhule, said his decision is in compliance with the Supreme Court judgment and in response to the lawmakers’ request for him to re-present the budget.

He recalled the bitter experience of visiting the Assembly Quarters with his entourage, where the lawmakers were temporarily sitting to present the budget, but he was denied access to the complex.

The letter read, “You may recall my failed visit to the Rivers State House of Assembly on Wednesday, 12th March 2025, for the presentation of the 2025 Rivers State Budget in compliance with the judgment of the Supreme Court of Nigeria.

“As you know, the planned presentation of the said budget could not take place because my entourage and I were locked out at the gate and denied entry into the premises despite the prior delivery of a soft copy of the notice to you following the failure of the Clerk to accept the hard copy from us.

“Recall further that before this unfortunate incident, the House issued a 48-hour ultimatum to present the 2025 budget even when we were yet to be served with the certified true copy of the judgment and accompanying enrolled orders.

“Therefore, we were simply complying with both the order of the Supreme Court and the request of the Rivers State House of Assembly when we came to present the 2025 budget on the 12th of March, 2025.

“The Supreme Court has directed that all arms of government should exercise their powers and perform their duties within the ambits of the Constitution and ordinary laws of our country, and this we must do to end the lingering stalemate and advance the progress of our state and the well-being of our people.

“No matter the depth of our differences, we believe the interests of the state and our people should take priority over political conflicts.

“Against this background, it is my pleasure to again notify you, Mr. Speaker, of my desire and intention to present the 2025 Budget to the Rivers State House of Assembly on Wednesday, 19th March 2025, by 11.00 a.m. or any other date within March 2025 that you may consider convenient.

“Thank you for the kind consideration of my request by the House, and please accept, Mr. Speaker, the assurance of my highest regards.”

But the Martin Amaewhule-led House, has denied receipt of the governor’s letter, accusing him of frustrating the implementation of the Supreme Court’s judgment, especially the re-presentation of the budget.

According to the Chairman, House Committee on Information and spokesperson, Dr Enemi George, on Sunday, the House urged the public to pressure the governor to follow due process in presenting the 2025 Appropriation Bill, rather than attempting to gain public sympathy by portraying lawmakers as obstacles.

He challenged the governor to produce an acknowledged copy of the letter he claimed to have sent to the House.

He said in part, “Nothing can be farther from the truth. We want to state categorically that there is no such letter before the House of Assembly nor any of its staff.

“We challenge the governor and his aides to produce an acknowledgement copy of such a letter or any evidence that such a letter was sent or received by the House of Assembly. It is absolutely untrue and unfortunate. The general public must as a matter of importance ignore such claim.

“It is now very obvious that if at all there was such a letter, the intended recipient was not the legislature, but the public, and the clear intention was to play to the gallery, whip up public sentiment, demonize the House of Assembly and set the public against us. This is demeaning, denigrating and perilously unfortunate.”

So, while it is not clear if the lawmakers will honour the governor’s request, they are fighting tooth and nail to ensure that the Chief Judge of the state is removed. His removal will pave the way for smooth removal of Fubara as a replacement, planted by the lawmakers, will surely sanction any impeachment move.

They Chief Judge, Justice Simeon Amadi, has been accused by the House of age falsification, and directed the Department pf State Service (DSS) to investigate him.

From.every indication, it’s still a long walk to peace and resolution as the Wike camp continues to breathe fire down the neck of the executive governor, who as it appears, exists presently in a limbo.

The coming days however, will further unravel more matters

Headline

Bella Disu: The Rise and Rise of a Boardroom Guru

Published

1 week ago

March 9, 2025

Eric

By Eric Elezuo

Nigerian women have shown resilience, strength and character in administration, government and entrepreneurship, contributing more than their quota, and giving vent to the growth and development of the nation’s socio-economic sector. Among them is the Executive Vice Chairman of the A-list communications outfit, the Globacom Group, Mrs. Bella Disu.

A strong purpose-driven professional and boardroom guru, whose administrative skills, intellect, experience and academic trajectory have remained a subject of reference, Bella, as she is fondly called, is a woman, who though has a privileged background, carved a niche for herself, climbing through ladders and cadres to get to where she presently is, and more importantly, can boast of the desired leverage and ability to defend her position.

Born Belinda Ajoke Adenuga, on May 29, 1986 to the duo of Emelia Adefolake Marquis, a Nigerian entrepreneur, and the global phenomenon, Dr. Mike Adenuga Jr., Bella received her early education in Lagos, at the prestigious Corona School in Victoria Island before enrolling at Queen’s College for her secondary education. In 1998, she transferred to Vivian Fowler Memorial College for Girls, where she concluded her secondary education.

She proceeded to the University of Massachusetts, Boston, USA, where she obtained a Bachelor of Arts degree in International Relations, and later, a Master of Science degree in Leadership from the Northeastern University, also in Boston.

In 2004, Disu joined her father’s Globacom, and consistently rose through the ranks to become the Executive Vice Chairman of the company. She is also a non-executive director with the construction giant, Julius Berger Nigeria Plc.

In April 2010, Bella took a break to solemnize her romantic relationship with her heartthrob, Jameel Disu, a venture capitalist, and both formalized their union in a fairytale wedding that is still the talk of the town, almost 15 years after.

As phenomenal and weighty as her family name, Bella dropped, and picked up completely her husband’s name, signifying undying love and loyalty. That’s still the name she bears till date. Both are blessed three wonderful children.

In 2019, the French Government awarded Disu the Chevalier dans ‘l’Ordre des Arts et des Lettres in recognition of her efforts in promoting French culture.

In January, 2021, Abumet Nigeria Limited announced her appointment as Chairman of its Board of Directors. Abumet Nigeria Limited maintains worldwide partnerships with reputable manufactures and maintains a state-of-the-art production facility, located in FCT Abuja, fully equipped with cutting-edge machinery and technology.

Abumet is a subsidiary of Julius Berger Nigeria Plc, and a leading solutions provider for the planning, processing and installation of aluminium and glass products, from single standard windows to sophisticated facades and large-scale design masterpieces. She replaced Alhaji Bamanga Tukur, upon his resignation from the board. Bella is a Member of the Chartered Institute of Management of Nigeria (MNIM) and the Institute of Directors of Nigeria (MIOD).

In addition to her French National Honour if Chevalier dans l’ordre des Arts et des Lettres (“CAL”), and currently the Executive Vice- Chairman of Globacom Limited, she is also the Chief Executive Officer of Cobblestone Properties & Estates Limited, and a Director on the Board of Mike Adenuga Centre.

In less than four years of her leadership, Abumet’s profits, according to Billionaire Africa, surged 307% in 2024, marking a major turnaround from losses in 2021.

The paper reported of her exploits as follows: “As a Non-Executive Director, she helped boost Julius Berger’s revenue to N566.2 billion, pushing it into Nigeria’s top 50 listed firms.

“At Abumet, Disu is driving innovation in façade technology, deploying unitized curtain walls for improved insulation and energy efficiency in Nigeria’s construction sector.

“Nigerian business executive Bella Disu has led Abumet Nigeria Limited, an innovative glass and aluminum manufacturing company, to record-breaking earnings, with profits quadrupling at the end of the 2024 fiscal year. Her leadership has not only steered the company back to profitability but has also reinforced the business acumen that runs deep in the Adenuga family.

“In a LinkedIn post, Disu, who has served as chairman of Abumet since 2021, shared the company’s turnaround: “Abumet is reaching new heights, and I’m excited to share our latest achievements. I am especially proud of the remarkable turnaround we’ve achieved—transforming from a loss in 2021 to delivering a 307 percent increase in profit in 2024.

“At just 38, Disu has earned her place among Africa’s top executives under 40, proving her ability to drive business success while steadily stepping into the legacy of her father, billionaire Mike Adenuga, who ranks among the continent’s wealthiest individuals with a fortune of $6.8 billion. She took over as chairman of Abumet’s Board of Directors in January 2021, succeeding Bamanga Tukur at a time when the company was struggling with steep losses.

“Since then, Disu has orchestrated one of the most impressive corporate recoveries in Nigeria’s manufacturing sector. Under her leadership, Abumet returned to profitability by the end of the 2022 fiscal year, bouncing back from the impact of COVID-19 and the financial challenges of 2021. The company sustained its profit in 2023 before posting a fourfold increase in 2024.

“Reflecting on this achievement, Disu credited the success to strong leadership and teamwork: “This success is the result of strategic leadership at the Board level, the dedication of our management team, and the collective effort of every Abumet employee.”

“Bella Disu expands Abumet’s market reach
As a 90-percent subsidiary of Julius Berger Nigeria Plc, Abumet plays a key role in the construction giant’s success. Bella Disu, who also serves as a Non-Executive Director at Julius Berger, has played a ‘much more’ active role in driving growth in the building solutions sector. By the end of the 2024 fiscal year, Julius Berger’s revenue rose from N446.1 billion ($296.4 million) in 2023 to N566.2 billion ($376.2 million) in 2024.

“Profit after tax also increased from N12.74 billion ($8.5 million) to N14.97 billion ($10 million), boosting the company’s market capitalization on the Nigerian Exchange (NGX) to N202.1 billion ($134.3 million). This has placed Julius Berger among Nigeria’s top 50 publicly listed firms, ranking 35th on the NGX.

“Under Disu’s leadership, Abumet has strengthened its market position by expanding its sales and marketing efforts. The launch of its Lagos sales office has helped grow its market share for made-in-Nigeria window and door solutions, while its EVONIGGLASS insulated glass brand has gained wider recognition. Despite market challenges, the company has posted record-high revenue and profits, exceeding expectations.

Abumet deploys energy-efficient curtain walls

Looking ahead, Disu is focused on pushing innovation in advanced façade solutions, leading Abumet’s efforts in glass and aluminum manufacturing.

“Abumet is deploying unitized curtain walls that will completely envelop the façade, ensuring not just aesthetic excellence but also enhanced energy efficiency through modern insulation technologies,” she said.

With a strong record of turning businesses around and driving growth, Disu is cementing her leadership in Nigeria’s business world. Her influence now extends beyond construction, telecommunications, and real estate into the country’s broader manufacturing sector, where she continues to make a lasting impact.”

Bella’s trajectory in the world of enterprise is a clear case of the demystification of the proverbial a tree cannot make a forest’, as she has conscientiously turned tables around wherever she found herself, bring in new ideas, new innovations and structural discipline that completely overhauls a system for all the positive outcomes.

Hers, is a case of continuous rise in the business world, and the home front. She is a better definition of a virtuous woman, and at less than 40 in age, the sky holds no barrier to how much more Belinda Ajoke Olubunmi Disu nee Adenuga could achieve in the coming months.

Congratulations ma!