Boss Picks

240mw Afam Turbine: Elumelu Raises Nigeria’s Power Hopes

Published

3 years ago

May 13, 2023

Eric

By Eric Elezuo

During the week, Nigeria’s distinguished entrepreneur, who doubles as Chairman, Heirs Holdings and United Bank for Africa among other heavy and prolific business concerns, Mr. Tony Elumelu, led the President of the Federal Republic of Nigeria, Muhammadu Buhari, who was represented by the Vice President, Prof. Yemi Osinbajo, to the official commissioning of the Transafam Power – a subsidiary of Transnational Corporation (Transcorp) Plc’s 240MW Afam Three Fast Power plant in Afam, Rivers State. With an already existing power plant residing in Afam, this brings the cumulative generating capacity of the plant to 1,000MW. The project is powered by Transcorp Plc, .

The project is a subsidiary of Transcorp Group with a 240-megawatt installed capacity plant, comprising eight trailer-mounted gas turbines of 30 megawatts each. The partnership began in November 2020, when the company, led by Tony Elumelu, signed the Afam power, share sale and purchase agreement.

The Commissioning of Afam Three Fast Power plant therefore, came on the heel of the presentation of the Discharge Certificate to Transcorp Power Limited by the Vice President and Chairman of the National Council on privatization (NCP) in a ceremony held at the presidential Villa Abuja on Monday, following the fulfilment of all privatisation conditions set by the Bureau for Public Enterprise (BPE). It is another of Elumelu’s added advantage in the quest for the provision of the much eluded uninterrupted electricity supply for Nigerians.

The VP had lauded the Chairman of Transcorp Group, Tony Elumelu and the entire Transcorp team for yet another power sector achievement, noting that “Afam Three Fast Power is an important part of the evolving story of Nigeria’s aspirations to bring electricity to millions in their homes, factories and businesses that provide their livelihoods. It brings into view the importance of private capital in building up capacity along the power value chain.”

A cross section of Nigerians, in major cities of the country, including Port Harcourt and Lagos, who spoke to The Boss, identified power as their most required infrastructure to be their own boss, and so Elumelu’s stride in the power sector is a welcomed development to make for self sufficiency.

This is even as the VP observed that “A major weakness of our privatisation process has been inadequacy of private investments and new cash injections. But the tide is turning with indigenous power and private investors such as Transcorp Power and Heirs Holdings, making significant investments such as the 100% acquisition of the 966MW installed capacity in Afam Plc and Afam III fast power Limited jointly referred to as Afam Genco.”

Filled with enthusiasm as having Elumelu make his job easier, the Minister of Power, Engr. Abubakar Aliyu, represented by the Permanent Secretary in the ministry, Temitope Fashedemi, applauded the fast strides of Elumelu, and Transcorp Group for their positive contributions to improving electricity generation in Nigeria.

“At full capacity, it will no doubt provide about 40% of our generated energy today. This is commendable and will certainly improve electricity supply to the nation along with growth of our economy and Gross Domestic Product (GDP)”, Engr. Abubakar said.

Elumelu, whose core entrepreneurial mandate rests on “Improving Lives and Transforming Africa” humbly expressed joy at the ability to be of assistance, using the instrumentality of Transcorp, saying “We all know the importance of power in Nigeria. We all experience the consequences of our power deficit – the implications for our people, our businesses, our schools, hospitals, and institutions – our national destiny. Transcorp Group is a key player in the power sector. We recognise power is the single most critical factor to lifting our people out of poverty and enabling job creation.

“Therefore, I am so proud today, that we have been able to bring together so many key stakeholders. We will not rest until we know every Nigerian has access to the power and the fruits of that power, which we know can transform our country.”

In his address at the event, Osinbajo went down memory lane, quoting President Buhari regarding how the project came to see the light of the day. He said: “In 2019, electricity subsidy reached a peak of N584 billion in an environment that became so burdensome for the Nigerian government’s fiscal position.

“In 2022, five non-performing distribution companies (DisCos) were brought into a restructuring programme that has led to a N10 billion monthly reduction in shortfalls.

The Man, Tony Elumelu

Tony Onyemachi Elumelu, the influential name associated with Transcorp’s Afam Power Turbine, the great United Bank for Africa, Tony Elumelu Foundation and Heirs Holdings Limited was born on March 22, 1963,. Here is a man who will never cease to create firsts. That is what he was created to do, and has never disappointed. As such, his accolades resonate not just in the Africa sub-regions, but across the globe.

A Nigerian national honours holder, the Commander of the Order of Nigeria (CON), and Member of the Order of the Federal Republic (MFR). It is worth noting that Tony has successfully held various editions of his annual Tony Elumelu Foundation Entrepreneurial Forum with not less than 54 African countries participating each time.

Adding another glorious feather to his retinue of feathers, Elumelu and his team of dedicated achievers, also operate new group insurance companies, namely Heirs Insurance and Heirs Life.

For a man, whose only concern is affecting humanity, it is not surprising that encomiums trail every of his step. In faraway Belgium on November 15, 2020, the man many referred to as business acumen, was conferred with Belgium’s oldest and most important national honours: “The honorary distinction of Officer in the Order of Leopold.”

The award is said to be in recognition of his commitment to the eradication of poverty and the economic empowerment of young Africans. That’s vintage Tony, and it is no wonder he has been able to coin a new lexicon in the dictionary of entrepreneurial intelligence; Africapitalism!

In commemoration of of his diamond jubilee event earlier in the year, a symposium was held in his honour at the Tony Elumelu Amphitheatre in the UBA House with the tag ’60 for 60’. It was attended by 60 young beneficiaries of the Tony Elumelu Foundation Entrepreneurship Programme, friends and colleagues.

A distinguished economist by training, visionary entrepreneur and philanthropist, Elumelu acquired and turned Standard Trust Bank into a top-five player in Nigeria. In 2005, his corporate reputation as an African business leader was sealed when he led the largest merger in the banking sector in Sub-Saharan Africa to acquire United Bank for Africa (UBA). In five years, he transformed it from a single-country bank to a pan-African institution with over seven million customers in nineteen African countries.

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

Following his retirement from UBA in 2010, Elumelu founded Heirs Holdings, which invests in the financial services, energy, real estate and hospitality, agribusiness, and healthcare sectors. In the same year, he established the Tony Elumelu Foundation, an Africa-based and African-funded philanthropic organisation dedicated to the promotion of excellence in business leadership and entrepreneurship, and to enhancing the competitiveness of the private sector across Africa.

His stated objective at the formation of Tony Elumelu Foundation was to “prove that the African private sector can itself be the primary generator of economic development.” The Foundation is charged with the mission of driving Africa’s economic development by enhancing the competitiveness of the African private sector. As a premier pan-African-focused not-for-profit institution, the Tony Elumelu Foundation is dedicated to the promotion and celebration of entrepreneurship and excellence in business leadership across the continent, with initiatives like The Tony Elumelu Entrepreneurship Programme (TEEP)

In a bid to expand his conglomerate as well as his business horizon, in 2011, through Heirs Holdings, he acquired a controlling interest in the Transnational Corporation of Nigeria Plc (Transcorp), a publicly quoted conglomerate that has business interests in the agribusiness, energy, and hospitality sectors. Elumelu was subsequently appointed chairman of the corporation.

His enterprise is not limited to self financed enterprises as he serves as an advisor to the USAID’s Private Capital Group for Africa (PCGA) Partners Forum. He also sits on the Nigerian President’s Agricultural Transformation Implementation Council (ATIC). He is also vice-chairman of the National Competitiveness Council of Nigeria (NCCN) whose formation he was a key driver in, and serves as Co-Chair of the Aspen Institute Dialogue Series on Global Food Security.

Elumelu additionally chairs the Ministerial Committee to establish world-class hospitals and diagnostic centres across Nigeria, at the invitation of the Federal Government and the Presidential Jobs Board, engineered to create 3 million jobs in one year. He also serves as a member of the Global Advisory Board of the United Nations Sustainable Energy for All Initiative (SE4ALL) and USAID’s Private Capital Group for Africa Partners Forum.

One will not be wrong to address him as a philosopher as well as he 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 nationalisation 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.

Having studied under Professor Porter at Harvard Business School, Elumelu subscribes to Michael Porter’s concept of Creating Shared Value (CSV). Professor Porter is the Founding Patron of The Tony Elumelu Foundation. In the same vein, CSV refers to the idea that “companies must take the lead in bringing business and society back together.” It asserts that “businesses acting as businesses, not as charitable donors, are the most powerful force for addressing the pressing issues (society) face(s).”

In 2003, the Federal Government of Nigeria granted Tony Elumelu the title of Member of the Order of the Federal Republic (MFR), a national honour, and in 2006, he was voted African Business Leader of The Year by the Africa Investor magazine and was also recognised as African Banker of the Year in 2008 by the African Banker magazine. In 2009, the Nigerian President Umaru Musa Yar’adua honoured him with a place on the Presidential Committee on the Global Financial Crisis.

In 2012, he was awarded the prestigious National Honour of Commander of the Order of the Niger (CON) for his service in promoting private enterprise. Apart from being recognised as one of “Africa’s 20 Most Powerful People in 2012” by Forbes Magazine as well as being featured in the New African Magazine’s list of the “100 Most Influential Africans in Business”. He was awarded an honorary Doctorate of Science degree from the Benue State University and an honorary Doctorate of Business Administration from the University of Nigeria, Nsukka.

In 2013, Elumelu received the Leadership Award in Business and Philanthropy from the Africa-America Institute (AAI) Awards. He was also named African Business Icon at the 2013 African Business Awards.

In addition, ESI-Africa, frequently described as “Africa’s power journal”, named Elumelu in its 2015 ‘ESI Most Influential Figures in African Power’ list, in January 2015.

Elumelu is not just a financial wizard; he also writes as well as provides incredible inspiration to writers. Some works that involves him include: How to Excel at Work – Proven strategies for achieving superior work performance by Bili A. Odum – a book inspired by Elumelu’s work ethics.

Elumelu has contributed to the Nigeria Leadership Initiative White Papers, writing on Leveraging private sector approaches in transforming government delivery.

The Power of Vision: Insights on Tony Elumelu is a testimonial compiled on the occasion of his retirement as Group Managing Director/Chief Executive Officer at the United Bank for Africa. It contains messages from Aliko Dangote, former Nigerian President Olusegun Obasanjo, Professor Michael Porter, former World Bank managing director and Nigeria’s Minister of Finance, Ngozi Okonjo-Iweala, President of Sierra Leone; Ernest Bai Koroma, former United States Comptroller of the Currency, Eugene Ludwig and Sanusi Lamido Sanusi, former Governor of the Central Bank of Nigeria.

He has written about his philosophy and the economic development of Africa for several publications around the world including The Economist, the Wall Street Journal and Financial Times.

Tony Elumelu is happily married to Awele Vivian Elumelu, who he married in 1993, and they are blessed with five wonderful girls; Nneka, Ugo, Ogor, Oge and Onyinye.

Sir, for your steadfastness in business and transformation of lives as well as unleashing the Midas touch to anything you are involved in, you deserve once again to be celebrated.

Boss Picks

Aesthetics, Landscape, Professionalism: You Can’t See ABUAD in One Day!

Published

1 week ago

February 15, 2026

Eric

By Eric Elezuo

The idea behind one of Nigeria’s elevated private higher institution of learning, the Afe Babalola University, Ado-Ekiti (ABUAD) is not only humongous, but filled with classy intentions, beautiful landscape, and professionalism in tutelage and character molding.

A visit to this great citadel of learning is not a one day affair, cause no one can see ABUAD in One day; not even in one week, one month or a year, as this reporter can attest to. ABUAD is huge. ABUAD is large. ABUAD is an institution beyond the literary definition. ABUAD is a dream projected to last a lifetime, and it has not failed to live up to billing.

Navigating through the bustling streets of Ado-Ekiti via the centre of Ekiti Parapo Arena, and into the gracious Olusegun Obasanjo Way enroute Aye Ekiti, the institution is situated at an altitude of over 1,500 feet, and located on a 130-hectare piece of land; large enough to birth a kingdom, and accommodate whatever facility dreamt of.

The Boss learnt that the institution was established to address the mismatch between academic programmes and the demands of the labour market in Nigeria.

Established in 2009, in Ado-Ekiti, the capital of Ekiti State, by a distinguished legal icon, academic pillar and seasoned entrepreneur, Prof Afe Babalola, ABUAD has distinguished itself as a force to reckon with in the fields of research and training, developing and churning out creative minds, who have constituting a megaforce in global development.

By the benefit of hindsight, the University offers Academic programmes in seven Colleges: Sciences, Law, Engineering, Social and Management Sciences, Medicine and Health Sciences, Pharmacy and Postgraduate Studies. Beyond the academic ratings, ABUAD boasts of the very best of facilities for health, recreation, environmental, electricity, agriculture and more. It is also a centre of academic discipline with academic and non-academic staff of repute, whose stock-in-trade remain the production of all-round, well-tutored and easy-to-fit personality.

The institution is managed by the Vice Chancellor, Prof Smaranda Olarinde, which academic and administrative catalogue is quiet envious to behold.

By every standard, the institution merits its Time Higher Education (THE) Impact ranking as at 2025 as the 84th in the world, 3rd in Africa and 1st in Nigeria. Great feat!

Other top SDG Africa Rankings of ABUAD include, but not limited to SDG 7 (Affordable & Clean Energy): 1st in Africa, SDG 13 (Climate Action): 1st in Africa, SDG 1 (No Poverty): 2nd in Africa and SDG 17 (Partnership for the Goals): 3rd in Africa.

It is important to observe that these achievements underscore ‘ABUAD’s commitment to quality education and societal impact, marking a major milestone for the institution and Nigeria’s higher education sector’.

The Engineering College, one of the foremost architectural intelligence on the ABUAD land, is built on three and half acres of land, and is reputed to be one of the largest in Africa. The college was inaugurated by former President Goodluck Jonathan.

Campuses

The university has one main campus which is located in Ado-Ekiti, Ekiti State, Nigeria. The campus is situated in the hilly part of the town directly opposite the Federal Polytechnic Ado-Ekiti.The campus houses 6 undergraduate colleges, a postgraduate school, conference halls, a teaching hospital for medical students, student and staff accommodation, a sporting facility, and other auxiliary services such as a cafeteria for staff and students, a laundry, a bakery, and a water processing plant.Afe Babalola University holds a reputation for being one of the few Nigerian universities to begin academic work in the campus permanent site. However, due to the requirement by the National University Commission that the school must possess a functioning teaching hospital, a memorandum of understanding with the Nigerian federal government to make use of the Federal Medical Center (FMC) Ido-Ekiti, Ekiti State as its teaching hospital for a period of ten years beginning from October 2014.

Admission requirement

The admission requirement for the school varies between the different colleges. However, as with all Nigerian universities, for undergraduate programs the candidate is required to have at least 5 credits in subjects such as mathematics, English language and any other three subjects that are relevant to the course of study. The student is required to have passed the Joint Admission and Matriculation Board JAMB Unified Tertiary Matriculation Examination (UTME), after which the candidate is expected to take an oral interview with an academic staff of the prospective college before admission can be given. The university also offers direct entry admission to students who wish to transfer from another university or have undergone either an Advanced Level program or a degree foundation program. The level at which they are admitted into is decided by the college and varies among them.

Undergraduate colleges

The university operates a collegiate system and has six major colleges. They are the College of Engineering, College of Medicine and Health Sciences, College of Sciences, College of Law, College of Social and Management Sciences, and College of Pharmacy. Some of the colleges offer post graduate programme in some departments.

The College of Law

The College of Law is fully accredited by the National University Commission (NUC) of Nigeria. The college consists of fully furnished classrooms, a common room, a library containing law journals and articles, and a moot court for students to have court practice sessions. There are a number of student chambers in the college backed by a staff mentor who battle against each other in moot court sessions. Associate Prof. Elisabeta Smaranda Olarinde (FCAI) is the pioneer provost of the college of Law and is still the current provost of the college; she is also the acting vice chancellor of the university. The College of Law, which is regarded as one of the best law colleges in Nigeria, offers both undergraduate and post-graduate degrees (master’s level) in law.

The College of Engineering

The college of engineering was accredited by both the NUC and COREN during their one-week visit to the college. The main engineering building which houses laboratories, a central engineering library, lecturer rooms, an auditorium, a central engineering workshop and a certified Festo training center. The engineering building is named after the former Nigerian president Dr. Goodluck Jonathan and was commissioned by him on 20 October 2013 during the university’s first convocation ceremony. Prof. Israel Esan Owolabi served as the pioneer provost of the college of engineering; he stepped down from the post in 2015 and he is currently engaged in teaching activities in the electrical/electronics engineering programme.

Academic programs

B.Eng. Mechanical Engineering
B.Eng. Mechatronic Engineering
B.Eng. Electrical/Electronic Engineering
B.Eng. Petroleum Engineering
B.Eng. Civil Engineering
B.Eng. Chemical Engineering
B.Eng. Computer Engineering
B.Eng. Agricultural Engineering
B.Eng. Biomedical Engineering
B.Eng. Aeronautical and Astronautical Engineering

The College of Sciences

The College of Sciences is one of the pioneer colleges of the university after the university’s approval by the Nigerian University Commission (NUC). The university admitted students at inception on 4 January 2010.

Academic programs

B.Sc. Microbiology
B.Sc. Human Biology
B.Sc. Biotechnology
B.Sc. Biochemistry
B.Sc. Chemistry
B.Sc. Industrial Chemistry
B.Sc. Computer Science
B.Sc. Geology.
B.Sc. Physics with Electronics
B.Sc. Physics
B.Sc. Petroleum Chemistry
B.Arch Architecture

The College of Social and Management Sciences

At inception, on 4 January 2010 the university admitted students into the College of Social and Management Sciences, being one of the pioneer colleges of the university. The session ran smoothly without hitches from 4 January to August 2010. The second session of the university started on October 4, 2010, with over 1,000 students. So far the, university has maintained strict compliance with its academic calendar which makes it possible for students to pre-determine their possible date of completion of their programmes even before enrolment. It has been the policy of the university to post on-line students’ results within 24hours of approval by the Senate.

Academic programs

B.Sc. Economics
B.Sc. Accounting
B.Sc. Banking and Finance
B.Sc. Business Administration
B.Sc. Tourism and Events Management.
B.Sc. Political Science
B.Sc. International Relations and Diplomacy
B.Sc. Peace and Conflict Studies
B.Sc. Intelligence and Security Studies
B.Sc. Social Justice
B.Sc. Communication and Media Studies
B.Sc. Marketing
B.Sc. Entrepreneurship
B.Sc. Sociology

The College of Medicine and Health Sciences

The college commenced activities in October 2011 having been approved by National Universities Commission.

Academic programs

Medicine and Surgery (M.B.B.S)
B.NSc. Nursing Sciences
B.MLS. Medical Laboratory Science
B.Sc. Anatomy
B.Sc. Physiology
B.Sc. Human Nutrition and Dietetics
B.Sc. Pharmacology
B.Sc. Public Health
Pharm.D Pharmacy
B.DS. Dentistry
OD. Optometry

The College of Arts and Humanities

Academic programs

B. A. Performing Arts
B. A. English
B. A. History and International Studies
B. A. Linguistics

The College of Agriculture

Academic programs

B. Agric. Animal Science
B. Agric. Agricultural Economics
B. Agric. Extension Education
B. Agric. Crop Science
B. Agric. Soil Science

Postgraduate college

The university operates a collegiate system and has five major Postgraduate colleges. They are the College of Engineering, College of Medicine and Health Sciences, College of Sciences, College of Law and College of Social and Management Sciences.

ABUAD INDEPENDENT POWER PROJECT

To harness thorough academic and character building, the institution is operated off the national grid as it is run on its own power project, with a dam that powers its electrical needs.

HEALTH AND AGRICULTURE

ABUAD operates of the best medical schools and facilities in the country as it boasts of almost all equipment, space and atmosphere for sundry medical conditions, with reputable medical personnel to complement the environment.

In the vein, the institution runs a developed farming culture, that accommodates rearing of livestock and production of cash and food crops.

The farm sits on a large expanse of loamy soil, complimented with consistent flow of irrigation and drainage, and maintained with the classic of horticulture. The settlement is run by a team of professionals made up of Agroeconomists, horticulturist and more.

It is also worth knowing that the school has its Cassava Processing Factory just as it operates a self sustaining Carbonated Drink Factory.

ABUAD practically offers everything!

ABUAD’S FOUNDER, AARE AFE BABALOLA

Born in 1929, Aare Afe Babalola SAN is one of the most distinguished legal luminaries of his generation, renowned both in Africa and globally for his profound contributions to the legal profession and the advancement of education. With over five decades of uninterrupted legal practice, Aare Babalola’s career is a testament to exceptional dedication, strategic advocacy, and visionary leadership.

A highly accomplished advocate, he has led some of the most celebrated cases in Nigerian legal history, representing high-profile clients, including government institutions, multinational corporations, and individuals. His advocacy spans domestic and international courts, including contributions as a consultant to the Federal Government of Nigeria, World Bank, and various conglomerates. His extensive experience includes his role in arbitration, both locally and internationally, where he remains a respected authority. Aare Babalola has appeared in numerous landmark cases, shaping Nigerian jurisprudence and establishing himself as one of the nation’s most formidable legal minds.

His influence goes beyond the courtroom. As the Founder of Afe Babalola & Co. (Emmanuel Chambers), one of Nigeria’s leading law firms, Aare Babalola has trained over 300 lawyers, including 14 Senior Advocates of Nigeria (SANs), judges, and attorneys-general, making his chambers one of the most significant contributors to the legal profession in Nigeria. His exceptional litigation skills and legal acumen earned him the prestigious title of Senior Advocate of Nigeria (SAN) in 1987, cementing his place at the pinnacle of legal practice in the country.

A renowned scholar and author, Aare Babalola has authored several authoritative legal texts, including Injunctions and Enforcement of Orders and Law and Practice of Evidence in Nigeria. His contributions to legal education extend to teaching at the Nigerian Institute of Advanced Legal Studies and delivering lectures at prestigious universities such as the University of Lagos and the University of Ibadan. His popular column, YOU AND THE LAW, published in the Nigerian Tribune, reflects his commitment to educating the public on legal matters.

Beyond his legal practice, Aare Babalola has made extraordinary strides in education. His experience as Pro-Chancellor and Chairman of the Governing Council of the University of Lagos (2001-2007) exposed him to the declining standards of education in Nigeria, spurring him to establish Afe Babalola University, Ado-Ekiti (ABUAD).

ABUAD has quickly become a beacon of academic excellence, setting new standards in Nigeria’s educational system. His efforts in education have been recognized globally, with numerous honorary degrees from universities, including the University of London, University of Lagos, and Ekiti State University.

Aare Babalola’s leadership in academia and law has earned him numerous accolades, including the Officer of the Federal Republic (OFR), Commander of the Order of the Niger (CON), and international recognition such as the Queen Victoria Commemorative Award at the Socrates Awards in Oxford, UK. He was named Africa Man of the Year on Food Security and awarded an Honorary Doctor of Management by the Federal University of Technology, Akure. His groundbreaking achievements continue to inspire generations of lawyers and leaders across Africa and beyond.

In addition to his legal and educational contributions, Aare Babalola remains a committed philanthropist and advocate for reform in various sectors. His vast experience, unmatched expertise, and unwavering commitment to excellence make him not only a legal icon but also a trailblazer in the fight for quality education and justice.

Key Achievements:

Senior Advocate of Nigeria (SAN), 1987.
Officer of the Federal Republic (OFR).
Commander of the Order of the Niger (CON).
Pro-Chancellor and Chairman of the Governing Council, University of Lagos (2001-2007).
Founder and Chancellor, Afe Babalola University, Ado-Ekiti (ABUAD).
Queen Victoria Commemorative Award winner, Oxford UK.
Fellow, Nigerian Institute of Advanced Legal Studies.
Honorary Doctor of Laws from the University of London, Ekiti State University, University of Lagos, and more

ABUAD is a legacy, just like its Founder, Afe Babalola SAN.

Photos: Ben Osei and Ken Ehimen

Boss Picks

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

Published

4 weeks ago

January 26, 2026

Eric

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!

Boss Picks

Hon Jumoke Okoya-Thomas Becomes Otun Iyalode of Lagos

Published

4 weeks ago

January 25, 2026

Eric

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!