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Fuel Subsidy Removal: Edo Govt Approves N40k Minimum Wage, Three Days Working Week

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By Eric Elezuo

The government of Edo State has announced the approval of N40, 000 as new minimum for its civil servant; a sharp N10, 000 increase from the previously paid N30, 000.

The government made the announcement through a press statement signed by the governor,  Mr. Godwin Obaseki, and posted on hos official Twitter handle.

The governor noted that pains the state’s workforce is going through following the new subsidy regime of President Bola Tinubu, where the existing subsidy on petroleum products were removed. He added that to reduce the price and stress of commuting to and from work, the government has also reduced the working week from the official five days to three days until further notice.

The statement reads in full:

In the wake of fuel subsidy removal by the Federal Government, fuel prices have increased astronomically leading to rise in prices of goods and services and overall cost of living. The Edo State Government shares the pains of our people and wants to assure everyone that we are standing with them in these very challenging times. We want to reassure our people that we will do all within our powers as a subnational government to reduce the pains and ameliorate the sufferings our people are currently facing due to the current realities. As a proactive government, we have since taken the step to increase the minimum wage paid to workers in Edo State from the approved N30,000 to N40,000, the highest in the country today. We want to assure you that we will continue to pay this amount, while we hope to increase it even further, if more allocation accrues to our State from the Federal Government in view of the expected savings occasioned by the removal of the fuel subsidy. We know the hardship that has been caused by this policy which has radically increased the cost of transportation, eating deep into the wages of workers in the State. Therefore, the Edo State Government is hereby reducing the number of work days that civil and public servants will have to commute to their workplaces from five days a week to three days a week till further notice. Workers will now work from home two days every week. Similarly, for teachers and parents, their commuting to school will be reduced as government is working on deepening the EdoBEST@Home initiative to create more virtual classrooms, thereby reducing the cost of commuting on parents, teachers and pupils. The Edo SUBEB will provide details on this initiative in the coming days. To lower the rising cost of energy on our people, we will continue to work with the electricity companies in the State to improve power supply to homes and businesses. Similarly, fibre optic connections are being made available to help our people work remotely, thereby reducing their cost of transportation. While government intensifies these efforts to alleviate the burden of the fuel price increase on the people during this very challenging period, we want to call on everyone to remain calm and go about their daily businesses lawfully.

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Bella Disu: The Rise and Rise of a Boardroom Guru

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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!

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Nigeria’s Who’s Who Joins Otedola to Turn Sod for FirstBank’s 43-Storey New Headquarters

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By Eric Elezuo
Conducted in an atmosphere of class, beauty and wholesome networking, the event drew the likes of the Vice President of Nigeria, Senator Kashim Shettima, who represented President Bola Tinubu, as the special guest of honour.
Other dignitaries that graced the occasion were the governors of Lagos State, Mr. Babajide Sanwo-Olu; Ogun State, Prince Dapo Abiodun; Ondo State, Mr. Lucky Aiyedatiwa; and former governor of Delta State, Mr. James Ibori.
Also joining the retinue of the first class citizens were the Ghagoury brothers; Gilbert and Roland, Senator Daisy Danjuma, Mr. Deji Adeleke, Mustapha Ndimi, Alhaji Aliko Dangote, Mr. Tunde Folawiyo, Dr. Bukola Saraki, Mr. Ben Murray-Bruce, Chief Dele Momodu and a host of white cap chiefs, who represented the Oba of Lagos, Rilwan Akiotu.
Known for its penchant for creating firsts, the Nigeria’s premier and leading money deposit bank, as well as financial institution of choice, the bank is set to deliver a state-of-the-art edifice, described as the first of its kind in Nigeria, the West African subregion, and by hindsight, in the entire African continent.
It is also reported that on completion, the edifice will house a variety of facilities that will buttress, and toe the line of the Eko Atlantic City original manuscript, and lend candour to the skyline and nightlife of the exclusive city.
Earlier, the Managing Director and Chief Executive Officer of FirstBank Nigeria, Mr. Segun Alebiosu, had remarked in a statement that the building is a significant milestone and an ambitious project set to be an engineering and environmental delight due to its technologically advanced, eco-friendly and sophisticated construction that would set a new standard for the financial services sector in Africa.

“The groundbreaking ceremony signifies the beginning of a transformative journey that reinforces FirstBank’s commitment to excellence, innovation, and customer satisfaction.

“We are proud to mark this significant milestone in our journey towards excellence. Our new Head Office is envisioned as a world-class structure that represents our dedication to innovation, customer satisfaction, and sustainability.

“We believe that this development will play a crucial role in fostering economic growth and development across Africa, creating long-term value for all our stakeholders,” Alebiosu said.

The statement by the bank further revealed that the new headquarters is designed with sustainability in mind, featuring a green-certified building that reduces operational costs, and positions the bank as a leader in sustainable banking practices.

In his welcome address however, Alebiosu said that “The groundbreaking ceremony is a momentous occasion for us to redefine our commitment to position solidly as the bank for the future. Therefore, this new headquarters is not just about a modern architectural masterpiece; it is reimagining banking for generations yet unborn. It will serve as a hub for financial innovation, digital transformation, and operational excellence, ensuring that FirstBank remains ahead in an era where technology is reshaping activities.

“Situated in the heart of Eko Atlantic City, the iconic FirstBank headquarters complex, a 43-story edifice, will become the tallest building in Nigeria upon its completion.”

In his speech, the chief host, who is also the Chairman FirstHoldCo, Mr. Femi Otedola, praised the resilience of his FirstBank team, the Chagoury brothers for ‘creating land’ for Nigerians, stakeholders and the banking community, who have supported the FirstBank brand in 131 years of existence.

He noted that the gathering highlights the importance of collaboration and support from various sectors in bringing ambitious plans for the new headquarters to life.

“I appreciate the CBN for its efforts in sustaining the stability of the Nigerian financial services industry. I commend the Chagoury Group for their commitment to the infrastructural growth of the Nigerian economy. Worthy of note is that Chagoury has always been an inspiration and business model to me. I have personally felt that the creation of Eko Atlantic City is the ninth wonder of the world, coming after the eighth wonder, which is the Dangote Petrochemical City. These two wonders continue to reaffirm that Nigeria is indeed a great nation.

“To our customers and stakeholders of the bank, we must constantly be reminded that FirstBank is and will continue to be a legacy to behold. We shall continue to invest in cutting-edge technology, vibrant human capital, strategic partnerships, and customer-centric innovation that will define banking globally even as we detail our footprint across Nigeria, Africa, and the world. Thank you all for being a part of our rich heritage as we unveil this iconic building that will serve as the engine room of the bank’s next phase of dominance in the financial services sector and efforts to contribute our quota to the financial inclusion,” Otedola said.

The gathering was boosted by goodwill messages from stakeholders present including governors Sanwo-Olu, Abiodun and Aiyedatiwa. Other goodwill messages were delivered by Senator Danjuma, Mr Folawiyo, Alhaji Dangote, Mr. Adeleke and others.

In his charge, Sanwo-Olu ssaid, “First Bank, as usual, has led the way. I want to thank the visionaries who created a new city that will be Africa’s model city that all of us will be proud of. Mr. Femi Otedola, well done, well done to your board, well done to your management, and CBN Governor, thank you for the approval. We want you to give other financial institutions approval as well. There is space for them as well.”

One of the hallmarks of the event was the presentation of certificate to the FirstBank group by the Governor Sanwo-Olu, on behalf of the Lagos State government, to authorize commencement of construction.

In his keynote address however, the special guest of honour, President Bola Tinubu, who was represented by Vice President Kashim Shettima, lauded the building as representing and symbolising Nigeria’s ambition and progress.

“Today we lay the foundation for a monumental structure in Nigeria’s financial landscape, the First Bank iconic tower, a symbol of our nation’s progress and ambition. This tower will stand as a testament to our economic strength and vitality. The tower, which will be the tallest building in West Africa at 40 stories upon completion, is a symbol of confidence in our country’s future. For 130 years, FirstBank has been a pillar of our economy, empowering businesses, supporting families, and driving financial innovation. FirstBank has extended its reach from Lagos to London and all around major financial centres worldwide, proudly flying Nigeria’s flag on the global stage.

tower will symbolise ambition and excellence in Eko Atlantic, an investment that consolidates Lagos as a leading financial hub and showcases the dynamism of Nigeria’s private sector.

“As president, I reaffirm our unwavering commitment to fostering an environment where significant investment and transformative projects like this can thrive through bold economic reforms, strategic public-private partnerships, and infrastructure development. We are ensuring that Nigeria once again becomes the top destination for investment,” Shettima said on behalf of President Tinubu.

The event of the day was concluded with the turning of the sod to signify commencement of building activities for the 43-storey ambitious project, which will change the landscape of the Eko Atlantic City, banking industry and architectural intelligence.

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Olusegun Obasanjo: Celebrating Africa’s Influential Leader at 88

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By Eric Elezuo

Chief Olusegun Obasanjo, arguably, is the most influential African alive. He would have been the second most influential if the Madiba Nelson Mandele still lives.

Obasanjo has transcended generations of greatness ever since he joined the army as a career soldier, fighting in the Nigeria/Biafra Civil War before testing political power as the Chief of Staff Supreme Headquarters to the then Head of State, General Murtala Mohammed, and then becoming the Head of State in 1976 following the assassination of General Mohammed. He was in charge between 1976 and 1979 when he handed over to Alhaji Shehu Shagari.

Obasanjo has been described as one of the great figures of the second generation of post-colonial African leaders, and has received praise both for overseeing Nigeria’s transition to representative democracy in the 1970s and for his Pan-African efforts to encourage cooperation across the continent. He however, remains the most senior in Nigeria’s political leadership, behind General Yakubu Gowon.

A two-terms civilian president and former military head of state, Olusegun Obasanjo,  has celebrated his 88th birthday, looking fit as a fiddle, and throwing banters among protégé, associates and leaders of thought, whobare his mentees.

As usual, Obasanjo’s birthday celebration was multi-faceted, and like every other year, accommodated praises and worship, get-together and sumptuous dinner among others, thereby igniting the Obasanjo Farm home of the former leader, located in Abeokuta, Ogun State, and the awesome The Delborough in Victoria Island, Lagos.

The birthday celebrations kickstarted with a special Global Breakfast Prayer session, which was in its 61st edition, on Saturday, March 1, 2025. It was a time of spiritual renewal and upliftment with representatives from about 29 countries in attendance both on ground and virtually.

The prayer session was facilitated by the Chairman of Christian Association of Nigeria, South West Zone, Bishop T. Akin-Akinsanya, and moderated by Rev. (Engr.) A. Ojeshina, with prayer and worship sessionsed by the Gatekeepers Worship Team.

Much as it was a spiritual exercise, the aura of greatness Obasanjo is known for was visible as ministers of God from different nations participated in the prayers, reflecting Chief Obasanjo’s far-reaching influence and the deep respect he commands across the globe, and well as the awesome glory to God for sparing his life for 88 eventful years.

Everyone, who was given an opportunity to share his thoughts about the African leader spoke glowingly, acknowledging Obasanjo’s role in fostering diplomacy, African development, and visionary leadership. Notable among these ministers that attended were Ven. O. Ogunremi from Kenya, Pastor M. Nwanegbo from Belgium, Bishop Francis Wale Oke, Bishop E. Adekunle, Rev. Mother Esther Ajayi, Apostle M. Oluwajoba from the United States of America, Dr. Juliet Hammond from the United Kingdom, and Bishop David Bakare.

The following day, the party shifted to Chief Stanley Ugochukwu’s The Delborough on Victoria Island where the creme de la creme of the society gathered to fete the octogenarian. They young entrepreneur was also present at the event.

Dignitaries at the dinner included former President Goodluck Jonathan, former Vice President Atiku Abubakar, former Senate President, Bukola Saraki, former President of Sierra Leone, Ernest Koroma, Anambra State Governor, Chukwuma Soludo and Ooni of Ife, Oba Enitan Adeyeye Ogunwusi.

The event also drew an impressive lineup of business heavyweights, including Chairman of Ovation Media Group, Chief Dele Momodu; the CEO of Air Peace, Dr. Allen Onyema; E-Money and his brother, Kcee, and Obi Cubana, Cubana Chief Priest and renowned entrepreneur, Chief Rasaq Okoya.

The occasion underscored Obasanjo’s lasting influence in Africa, especially Nigeria’s political and economic landscape. Dignitaries, who took turns to extol the respected leader, harped on his leadership, contributions to national development, and his roles as a statesman.

Beyond speaches on the night, the event created an atmosphere of conviviality, camaraderie, networking and catching up, as distinguished guests shared fond memories, banters and experiences of working with the elder statesman. The birthday proper is scheduled for March 5.

It would be recalled that in 2024 in commemoration of the 87th birthday, Obasanjo unveiled a new book, titled: “The Art of Leading: Unconventional Wisdom from Biblical Leaders.”

In his tribute to the former president, Atiku took to his X account to share moments from the occasion, and expressed appreciation for Obasanjo, who is his former boss, and described the gathering as a momentous celebration.

“I joined others at the dinner hosted by my former boss, former President Olusegun Obasanjo, at The Delborough Hotel, Victoria Island, in Lagos,” he wrote.

Born on March 5, 1937, in Abeokuta, Obasanjo, who is arguably Nigeria and Africa’s biggest political brand, served as President of Nigeria from 1999 to 2007, during which time he played an instrumental role in bringing democracy back to the Nigeria.

His political and economic sagacity within the period has remained a reference point for subsequent administrations both in Nigeria and the African continent.

He was Chairperson of the African Union from July 2004 to January 2006, and was inducted by the UN as Special Envoy for Africa in 2008. Since then, he has overseen elections in countries across the African continent on behalf of the African Union and ECOWAS.

A man, who draws accolades, and sometimes criticisms as result of his fearless position on issues of both continental, regional and national importance, Obasanjo has received praise both for overseeing Nigeria’s transition to representative democracy in the 1970s and for his Pan-African efforts to encourage cooperation across the continent.

The Wikipedia captures Obasanjo’s personal life as follows:

Ethnically, Obasanjo is Yoruba, a cultural identification he reflected in his speech and choice of clothing. However, he always foregrounded his Nigerian identity above his Yoruba one, repeatedly stating that “I am a Nigerian who happens to be a Yoruba man. I am not a Yoruba man who happens to be a Nigerian.”

Throughout his life he expressed a preference for rural over urban life. He has been a lifelong teetotaller. He has been characterised as having a sense of discipline and duty, and emphasised what he saw as the importance of leadership. He was meticulous at planning, and Iliffe called him an “instinctively cautious man”. Obasanjo always emphasised the importance of deferring to seniority, a value he had learned in childhood. Iliffe described Obasanjo as a man with “great physical and intellectual energy” who “exercised power with skill and ruthlessness, sometimes unscrupulously but seldom cruelly”. Derfler similarly stated that, although Obasanjo could appear “boorish and dull”, he had a “sharply perceptive mind” and the capacity to be “tough and ruthless”. He had, according to Iliffe, a “remarkable capacity for work”. He was cautious with money, living modestly and seeking financial security by investing in property. He is softly-spoken.

In his sixties, Obasanjo would regularly work 18 to 20 hour days, getting very little sleep. He would start each day with prayers. Obasanjo suffers from diabetes and high blood-pressure. He enjoyed playing squash.

Obasanjo’s writings after his imprisonment reflected his commitment to Biblical literalism. He called the Darwinian theory of evolution a “debasing, devaluing and dehumanising” idea. After his release from prison his writings placed far less emphasis on traditional culture as a guide to morality, calling on fellow Nigerians to reject much of their pre-Christian “way of life”. Iliffe noted that Obasanjo’s born-again Christianity was “strikingly orthodox” and was aligned with Orthodox Pentecostal teaching. He rejected the prosperity gospel that was taught by some Pentecostalists in Nigeria.

Providentialism also became a key part of his worldview after his imprisonment.

In addition to a variety of other chieftaincy titles, Chief Obasanjo is the holder of the title of the Olori Omo Ilu of Ibogun-Olaogun.

A prolific writer and author of many books, Obasanjo is not a stranger to awards and honours as he has them in endless list.

A father to many children, including Iyabo Obasanjo, one of his children, Adeboye Obasanjo, took after him, and is presently a Brigadier General in the Nigerian Army.

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