Kwara powers 13 public hospitals with solar energy

The Kwara State Government has extended renewable energy infrastructure to more public hospitals as part of efforts to strengthen healthcare delivery and ensure uninterrupted power supply across the state.

This was disclosed in a statement issued on Monday by the management of the Kwara State Hospitals Management Board and sighted by The PUNCH in Ilorin, the state capital.

According to the statement, the initiative forms part of the government’s commitment to promoting sustainable and climate-friendly healthcare systems while improving electricity supply in public health facilities.

It explained that several hospitals have now joined other health institutions already benefiting from renewable energy systems through the installation of solar inverter solutions.

“Under the intervention, six major hospitals received 30 KVA solar inverter systems to boost their power capacity and enhance service delivery,” the statement read.

The hospitals include General Hospital Share, Specialist Hospital Jebba, General Hospital Erin-Ile, General Hospital Omu-Aran, Children’s Specialist Hospital Ilorin, and the Essential Drugs Programme.

Similarly, seven other health facilities were equipped with 10 KVA solar inverter systems to strengthen electricity supply for routine and emergency medical services.

“These facilities are Cottage Hospital Iponrin, Cottage Hospital Alapa, General Hospital Agbamu, Cottage Hospital Ilemona, General Hospital Oro-Ago, Cottage Hospital Edidi, and Cottage Hospital Idofin Odo-Ashe,” the statement noted.

The board attributed the expansion of renewable energy infrastructure to the commitment of Governor AbdulRahman AbdulRazaq to improving healthcare services and promoting environmentally sustainable initiatives across the state.

It noted that the governor’s administration has continued to prioritise healthcare infrastructural upgrades, sustainability programmes, and improved access to quality medical services for residents.

“The management of the Kwara State Hospitals Management Board remains committed to laying a long-term foundation for a stronger healthcare system in the state through strategic planning, effective coordination, and continuous efforts to improve the operational efficiency of government hospitals,” said Dr Abdulraheem Malik, Executive Secretary of the board.

“Our proactive deployment of renewable energy solutions in health facilities is helping to build a more resilient healthcare system while reducing dependence on fossil fuels and unstable electricity supply,” he added.

The board explained that the installations would stabilise electricity supply, reduce reliance on fuel-powered generators, and guarantee uninterrupted power for critical units such as laboratories, maternity services, cold-chain storage, and emergency care departments, thereby improving the overall quality of healthcare delivery in the state.

SEC urges stronger women participation in capital market

The Securities and Exchange Commission and industry experts on Monday called for stronger participation of women in Nigeria’s capital market, stressing that female professionals play a critical role in strengthening financial institutions and expanding investor confidence.

The call was made during the commemoration of International Women’s Day at the SEC headquarters in Abuja, where regulators and financial experts emphasised the need for greater female leadership, financial literacy, and investment participation across the financial ecosystem.

In his keynote address, the Director-General of the SEC, Dr Emomotimi Agama, said women had consistently served as pillars of the Nigerian capital market and deserved greater recognition for their contributions to the growth of the financial system.

Agama said the commission had witnessed the resilience, commitment, and leadership of women across different roles in the organisation and the broader capital market.

“Today, this morning, the Securities and Exchange Commission is celebrating the women who stand as pillars of the Nigerian capital market,” he said.

He added that female professionals had shown remarkable strength and passion in advancing the development of the market. The SEC boss noted that women had played an important role in shaping his professional journey, revealing that his most influential mentor during his more than two decades at the commission was a woman.

“I can proudly say, even as the Director-General of the SEC, that my main mentor at the SEC was a woman. She taught me the crucibles of the capital market. She taught me with passion, with integrity, and with values,” he said.

He also highlighted the contributions of several women who had held key leadership positions in the commission, including former SEC Director-General Arunma Oteh, former Acting Director-General Mary Uduk, and other female leaders within the organisation.

Agama said women within the commission continued to provide strong professional support that had helped drive institutional progress. He urged men to recognise the importance of women in shaping society and supporting professional growth.

Also speaking at the event, the Founder and Chief Executive Officer of MoneyWise International, Toyin Alabi, called on women to strengthen their financial decision-making and actively participate in investment opportunities within the capital market.

Alabi said many women still faced challenges in financial empowerment despite working in financial institutions or related sectors. “Truthfully, a lot of women don’t have the right empowerment in terms of the aspect of finance,” she said.

According to her, building financial independence requires women to go beyond earning income and begin to focus on savings, investment, and wealth creation. Alabi noted that many professionals understood the importance of investing but often failed to develop the discipline required to sustain long-term financial growth.

“Personal finance is 20 per cent knowledge and 80 per cent behaviour,” she said. She also warned women against fraudulent investment schemes and emphasised the importance of informed financial decisions. “The first rule of investing is that if there’s any iota of doubt or a possibility that money will be lost, don’t invest,” she added.

Alabi urged women to adopt long-term financial planning strategies and cultivate saving habits that would enable them to build sustainable wealth. “Saving money may not make you rich, but it gives you peace of mind,” she said.

In her special remarks, the Executive Commissioner for Legal and Enforcement at the SEC, Frana Chukwuogor, said women working within the capital market regulator had demonstrated remarkable resilience, professionalism, and integrity.

Chukwuogor said women within the organisation were making a significant impact not only professionally but also within their families and communities. She also urged participants to contribute positively to society by supporting education and combating financial fraud.

Chukwuogor further challenged participants to actively expose fraudulent investment schemes.

Also speaking, the Executive Commissioner for Operations at the SEC, Bola Ajomale, said women played a fundamental role in shaping society and building strong institutions. Ajomale said the commission was deliberately creating opportunities for women to thrive within the organisation and the broader capital market.

He further emphasised the importance of female leadership and mentorship within organisations. Ajomale noted that women often brought unique perspectives and thoughtful analysis to decision-making processes.

The event formed part of activities marking the 2026 International Women’s Day celebration, with participants emphasising the need to strengthen women’s inclusion and influence within Nigeria’s capital market and broader financial system.

NNPC posts N385bn profit as oil output rises

NNPC LimitedThe Nigerian National Petroleum Company Limited recorded a profit after tax of N385bn in January 2026, even as crude oil and condensate production rose to 1.64 million barrels per day, according to the firm’s latest monthly operational report.

The January 2026 NNPC Monthly Report Summary, released on Monday, showed that the state-owned energy company generated N2.571tn in revenue during the month while remitting N726bn as statutory payments to the Federation.

This means the company recorded a sharp 47 per cent decline in its monthly revenue, which fell from N4.82tn in December 2025 to N2.57tn in January 2026. This contraction came despite a marginal increase in the company’s profit after tax.

The report indicated that production recovery during the month was driven largely by the completion of maintenance work at key offshore assets, particularly the Agbami field, as well as operational improvements in other upstream facilities.

It disclosed that Nigeria produced 1.64 million barrels per day, up from 1.55 million barrels per day recorded in December 2025. This represents an increase of 0.09mbpd, or about 5.8 per cent month-on-month.

The development indicates a partial recovery from the production slowdown recorded in the last quarter of 2025, when output had slipped to around 1.54mbpd in October and 1.55mbpd in December.

According to the report, “Production increased month-on-month following the completion of Turn Around Maintenance at Agbami and Renaissance (Estuary Area – EA).”

However, the company noted that operational challenges still affected crude delivery volumes.

It stated, “Despite the improved production profile, planned deliveries for January were reduced due to adverse weather conditions, evacuation constraints, and asset integrity challenges across some production corridors.”

The report also showed that natural gas production rose to 7,283 million standard cubic feet per day, representing a rebound from 6,914 mmscf/d recorded in December 2025.

Gas production had fluctuated throughout 2025, reaching a high of about 7,722 mmscf/d in July before declining later in the year due to operational and supply disruptions. This translates to an increase of 369mmscf/d, representing a 5.3 per cent rise month-on-month.

The rebound suggests stronger upstream performance after several months of fluctuations in 2025, when gas production fell sharply to 6,284mmscf/d in September before gradually recovering towards the end of the year.

Despite these fluctuations, gas production in January reflected renewed output stability as infrastructure upgrades and upstream operations improved. Gas sales also strengthened during the period, with the report indicating that the company sold about 4,978 mmscf/d of gas, one of the highest levels recorded within the past year.

The increase of 224mmscf/d represents growth of about 4.7 per cent month-on-month. This suggests improved gas delivery to power plants, industrial users, and export channels.

FCMB hits N288.96bn capital base, awaits CBN nod

FCMBFCMB Group Plc has reached a pivotal milestone in its race to meet the Central Bank of Nigeria’s new capital requirements, announcing a verified capital base of N288.96bn.

The financial powerhouse is now awaiting final validation from the apex bank to cement its status as a top-tier international banking institution.

The Group’s current capital position follows a rigorous two-phase strategic fund-raising exercise. Despite the remaining gap toward the N500bn threshold required for international licences, the Group remains confident that its recent market activities and pending approvals will bridge the deficit.

“The additional capital will be deployed to strengthen our capital adequacy ratio and accelerate growth. We will invest in human capital and technology, support our international expansion, and reduce high-cost deposits,” stated Ladi Balogun, Group Chief Executive Officer of FCMB Group, during a recent engagement with stakeholders

To address the initial funding gap, FCMB executed a high-velocity capital-raising strategy. Phase 1 of its Public Offer successfully generated N147.5bn, while Phase 2 added another N160bn to the coffers.

While these figures significantly bolster the Group’s balance sheet, they remain subject to formal CBN verification, a routine but critical process for all Nigerian banks ahead of the 31 March 2026 deadline.

Industry analysts suggest that the bank’s proactive approach has placed it within striking distance of its ultimate target.

“We project our earnings per share to grow by over 50 per cent on average over the next two years. This positions FCMB to outperform the market while delivering stronger dividends and shareholder returns,” Balogun added, emphasising the long-term value for investors.

Recognising the high stakes of the recapitalisation exercise, FCMB has established a “Rapid Response” contingency plan. Should the CBN’s final validation reveal any shortfall, the Group is prepared to deploy a Private Placement to instantly secure the remaining funds. This move underscores the urgency felt by international banks to remain competitive in a landscape being reshaped by the CBN’s N500 bn mandate.

Beyond mere compliance, the recapitalisation is expected to transform FCMB’s operational capacity. With a larger capital base, the bank will be better equipped to handle large-scale corporate lending and complex cross-border transactions.

“Together, the public offer and minority divestment provide sufficient capital for the bank to meet the revised N500 bn minimum capital requirement. This is based on verified eligible capital of N266.5 bn as of late 2025, now climbing toward our final goal,” a representative for the Group noted in a regulatory filing.

As the March deadline approaches, all eyes remain on the Central Bank’s headquarters in Abuja. For FCMB, the “nod” from the CBN will not just be a regulatory green light but a signal to the global market that the bank is ready for its next chapter of international expansion.

FAAN issues 100,000 airport access cards after tollgate chaos

FAAN

More than 100,000 airport access cards have been issued to motorists across the country as part of efforts to implement the Federal Government’s cashless policy at airport tollgates, the Managing Director of the Federal Airports Authority of Nigeria, Mrs Olubunmi Kuku, has disclosed.

Kuku revealed on Monday that 62,000 of the cards were issued within just three days of enforcing the cashless policy at airports, a development that turned chaotic as the rollout of the policy at major airports triggered disruptions.

The development comes as motorists have continued to enjoy free access into Nigerian airports for the past five days after President Bola Tinubu ordered that the airport gates be thrown open in response to the disruption caused by the policy’s enforcement.

Recall that attempts to enforce the cashless regime at airport tollgates, effective March 1, led to severe gridlock and confusion, with long queues of vehicles at entry points while many passengers struggled to catch their flights.

Amid public outcry, the President directed that tollgates be opened to allow free passage for motorists as an immediate relief measure.

Speaking on the development and the surge in access card registrations, Kuku acknowledged that the initial enforcement created significant bottlenecks despite prior public awareness campaigns, but also put the number of cards already collected at over 100,000.

She said, “Of course, in the implementation of the cashless policy, it made it quite hectic because a lot of the commuters and even some of the passengers, despite a lot of the awareness, did not believe that we would actually start the enforcement on March 1st. It did create a huge bottleneck over the first few days, but we saw that it actually started to ease up. I gave some interviews yesterday where I reeled out some data from October, when we actually started the implementation, to March 3rd.

“We’ve registered about 100,000 customers, of which 62,000 were actually done in the last three days. In Abuja, for example, we saw the traffic start to ease up. But despite that, we are an airport. And our ultimate goal outside of safety and security is also to make sure that our passengers and the neighbouring areas have a seamless experience. We’re grateful to Mr President. He was able to step in.”

Findings by The PUNCH showed that immediately the directive was issued, officials of FAAN who had been stationed at airport gates to collect tolls vacated the entry points, leaving the barricades open.

A motorist, who identified himself simply as Idris and had been passing through the tollgate after the announcement, confirmed that vehicles were moving freely without payment or checks in the last five days.

Idris said, “I’m surprised. I have been passing through the tollgate for about five days now, and not a single official of FAAN was on the ground. I guess they are restrategising.”

Eyewitnesses noted that the sudden absence of officials created a free flow of traffic at the usually congested tollgates, a sharp contrast to the long queues experienced earlier when the cashless policy was being enforced.

The Federal Government had earlier announced the suspension of the new payment system after the initial rollout sparked confusion and traffic gridlock at major airports, particularly in Lagos and Abuja.

The Minister of Aviation and Aerospace Development, Festus Keyamo, confirmed the President’s directive while briefing State House correspondents after the Federal Executive Council meeting.

“Mr President was very concerned about the welfare of Nigerians and the fact that most Nigerians were missing their flights. So Mr President, out of empathy, directed today that we should suspend the present system because it creates a lot of gridlock and Nigerians are suffering as a result of it,” Keyamo said.

He added that the President had instructed the ministry and FAAN to temporarily revert to the previous payment arrangement while officials work on a more efficient electronic solution for airport access nationwide.

APGA asks Abaribe, Ikwechegh to vacate NASS seats after defection

Abia State chapter of the All Progressives Grand Alliance, APGA, has called on two federal lawmakers, Enyinnaya Abaribe and Alex Mascot Ikwechegh, to vacate their seats in the National Assembly following their recent defections to other political parties.

The party maintained that both legislators secured their mandates under the APGA platform and should therefore step down after moving to the African Democratic Congress, ADC, and the Labour Party, LP, respectively.

Speaking during a press briefing in Aba, the party’s Publicity Secretary in Abia State, Chukwuemeka Nwokoro, said the lawmakers’ exit did not come as a surprise to the party leadership.

Nwokoro stated that their departure had instead freed the party from what he described as political limitations that had previously affected its progress.

“The actions of these individuals were not unexpected. In fact, their departure is a welcome development that will help reposition and strengthen APGA in Abia State,” he said.

He insisted that since the two lawmakers were elected under APGA, it would be appropriate for them to vacate their positions in the National Assembly.

According to him, the mandates were secured through the party’s platform, and it would be morally right for the defectors to relinquish the seats.

“Those positions were obtained on the strength of APGA’s platform, and it is only proper that they step aside after leaving the party,” Nwokoro added.

While acknowledging that political defections are a common feature of Nigeria’s democratic system, APGA stressed that the development would not weaken the party’s standing in the state.

The party also alleged that Abaribe and Ikwechegh contributed little to its growth in Abia State during their time within the party, accusing them of undermining its progress.

According to Nwokoro, the experience has provided valuable lessons for the party, which he said would no longer allow opportunistic politicians to exploit its platform.

He assured party members and supporters that APGA would emerge stronger as preparations begin for the 2027 general elections.

Nwokoro further noted that the party, under the leadership of its Abia State chairman, Sunday Onukwubiri, has already begun efforts to reposition itself for better performance in the next electoral cycle.

He also urged individuals interested in contesting elections on APGA’s platform in 2027 to join the party early, stressing that it would no longer serve as a fallback option for politicians seeking last-minute tickets.

“APGA remains a formidable political force in Abia State, and we will not be distracted as we prepare for the 2027 elections,” he said.

SDP warns PDP against turning Oyo into political battleground

Oyo State chapter of the Social Democratic Party, SDP, has warned the leadership of the Peoples Democratic Party, PDP, against allowing political tensions to escalate into violence in the state.

The caution follows reports of an attack on the residence of a former Deputy Governor of Oyo State, Hazeem Gbolarumi, on Saturday during the PDP’s congress activities.

In a statement issued on Sunday and made available to journalists, the state chairman of the SDP, Michael Okunlade, stressed the need to preserve Oyo State’s long-standing reputation as one of the most peaceful states in Nigeria, particularly as the country moves closer to the next general elections.

Okunlade said the party became aware of the alleged violence through media reports circulating on radio and social media on Saturday.

He urged political parties in the state to focus their campaigns on issues that affect the people rather than resorting to confrontations.

“As preparations for the 2027 elections gather momentum, we call on all political parties in Oyo State to centre their campaigns on meaningful discussions and policies that will benefit the people,” he said.

The SDP chairman warned the PDP against actions that could destabilise the state’s peaceful atmosphere, noting that political activities ahead of the elections should be conducted responsibly and with consideration for public safety.

“We caution the PDP against turning the state into a battleground in the run-up to the 2027 elections. The party should coordinate its activities in the best interest of residents,” he said.

He also called on the police and other security agencies to remain vigilant and prevent influential political actors from using their positions to provoke unrest.

According to him, law enforcement authorities must closely monitor the activities of political groups in the state, especially as the next general elections approach.

Okunlade further reaffirmed the SDP’s commitment to maintaining peace and unity among its supporters, urging party members to remain disciplined and focused as the party prepares for the 2027 political contest.

He emphasized that acts of indiscipline within the party would not be tolerated under any circumstances.

Osun youths protest blackout as IBEDC cites grid constraints

Residents and youth groups in Boripe local government council area of Osun State have expressed frustration over prolonged electricity outages, as the Ibadan Electricity Distribution Company, IBEDC, attributed the situation to reduced power supply from the national grid.

The Nigerian Youth Congress, Boripe chapter, said the persistent blackout had negatively affected homes, businesses and educational activities in the area.

In a statement issued in Osogbo, the group’s coordinator, Hammed Oyetunji, said communities within the local government had endured weeks of unstable power supply.

According to him, “the absence of electricity has disrupted economic activities and daily life for residents.

“For weeks, our communities have been subjected to prolonged blackout, causing serious hardship to residents, business owners, students and artisans.”

He added that electricity remained a critical factor in economic growth and public safety, stressing that its absence had slowed business activities across the local government.

Oyetunji also noted that many small-scale entrepreneurs had resorted to alternative sources of energy to keep their businesses running.

“Small businesses are incurring additional costs through alternative power sources, while students preparing for examinations are struggling to study effectively at night,” he stated.

He said the blackout had placed additional financial pressure on many households.

The youth leader called on IBEDC to provide a clear explanation for the prolonged outages and urgently restore stable electricity to the affected communities.

Residents had last week taken their grievances to the regional office of the distribution company in Osogbo, where they staged a protest over the power situation.

Demonstrators were seen chanting solidarity songs while demanding improved electricity supply to their communities.

Security personnel were deployed around the office during the protest to maintain order as tensions rose.

The protesters also issued a seven-day ultimatum to the distribution company to restore their communities to Band A electricity classification.

They warned that failure to address the situation could lead to further lawful collective actions against the company’s operations within the communities.

Responding to the concerns, IBEDC said the supply challenges were linked to reduced generation and instability in the national grid.

In a statement by the IBEDC management, the company explained that gas supply shortages to power generation plants had significantly lowered electricity generation across the country.

“Gas supply shortages to electricity generation plants have significantly reduced generation capacity nationwide, forcing distribution companies to implement increased load shedding,” the company said.

IBEDC added that electricity demand within its franchise areas had increased, particularly following the introduction of additional Band A feeders.

It stated that the energy allocated to the company from the national grid had remained inconsistent, creating a gap between electricity demand and available supply.

The company apologised to customers affected by the outages and said it was working with stakeholders across the electricity value chain to improve supply stability.

“We understand the frustration this situation has created among our customers and sincerely apologise for the disruption to homes, businesses and economic activities,” the company said.

BREAKING: Fire razes part of Federal Secretariat

There was pandemonium at the Federal Secretariat Monday morning as fire engulfed part its building.

DAILY POST gathered that the fire engulfed the Head of Civil Service Office of the Secretariat.

The incident diverted vehicular movement from the Federal Court of Appeal area.

At the time of filing this report, the cause of the fire is yet to be ascertained.

Details shortly…

NLC raises alarm over alleged N20bn ‘emergency’ spending in TCN

The Nigeria Labour Congress, NLC, has raised concerns over an alleged plan by certain officials within the Transmission Company of Nigeria, TCN, to spend close to N20 billion on electricity grid expansion projects.

The labour union claimed that the proposed expenditure, reportedly being pursued under the label of “emergency refurbishment,” appears to be a scheme aimed at diverting funds from the financially strained power utility.

In a letter addressed to the Minister of Power, Adebayo Adelabu, and signed by the NLC President, Joe Ajaero, the union warned that the planned spending poses a serious threat to the organisation’s financial stability.

Ajaero alleged that a group operating within TCN was attempting to use the justification of an “emergency” to sidestep standard procurement procedures and conceal questionable transactions within complex documentation.

He cautioned that if the procurement plans go ahead, the financial health of TCN could deteriorate further, potentially undermining its ability to operate effectively for many years.

According to the NLC leader, the national grid could remain in a perpetual state of crisis, not because of a lack of technical capacity, but due to the diversion of funds intended to improve infrastructure.

Providing examples of what he described as questionable spending proposals, Ajaero claimed that N191 million had been earmarked for erosion control work on Tower T89 in Ihovbor, Okada.

He also pointed to a proposed expenditure of N290.65 million for fencing and drainage work at the Biu 132/33KV substation.

He cited a planned allocation of N226.02 million for work on Tower T27 in the Etsako–Okpella–Ajaokuta axis, describing such figures as inconsistent with the principles of prudent financial management.

The NLC further alleged that there were plans to procure specialised transformers and switchgear in separate batches from the same supplier at progressively higher prices.

Ajaero argued that such arrangements suggested irregularities in the procurement process, describing them as an attempt to channel funds through inflated contracts rather than legitimate infrastructure upgrades.

He also accused officials of planning to stockpile consumable materials such as insulators, conductors and clamps at prices significantly above market rates, allegedly under the pretext of preparing for potential grid failures.

The NLC president therefore called on the Minister of Power to suspend all ongoing “emergency” procurement activities within TCN pending the outcome of a comprehensive forensic audit.

He also urged the minister to investigate the reported sale of land located behind the TCN substation in Katampe, Abuja.

In addition, Ajaero requested a review of an alleged attempt to promote a staff member employed on September 16, 2021, to the position of Assistant General Manager by 2026, which he said violates the company’s established promotion guidelines.