Connect with us


BIG STORY

Make Industrialization The Cardinal Goal Of Your Governance — Eleganza Chairman, Razaq Okoya To Tinubu

Published

on

Eleganza Group of Companies, one of the most established and wholly owned indigenous manufacturing industries in Nigeria, has been in operation for over 60 years.

The Chairman and founder, Chief (Dr.) Rasaq Akanni Okoya CON., a veteran in the manufacturing sector and an elder citizen sends his hearty congratulations to our dear President-Elect, His Excellency Asiwaju Bola Ahmed Tinubu and Vice President-Elect, His Excellency Kashim Shettima on a well-deserved victory. He prays for a peaceful and successful term.

It is the ernest hope of our Chairman that the President- elect makes the industrialization of the entire country a cardinal goal by helping promote manufacturing and the establishment of mid-sized cottage industries / factories during his tenure.

As a suggestion, this could be achieved through incubation centres that will be domiciled in warehouses of approximately 5000 sqm size per cluster (one unit).
These centres will be seen as special economic zones and will serve as Industrial infrastructure required for the conversion of raw agricultural materials into finished products, as well as that of other consumer products spread across all sectors of the economy which can also be manufactured in these clusters.
The President-elect can then invite various (Chinese) machine manufacturers and that of many other countries alike to come and train our graduates in vocational skills, while also providing much needed technology transfer through the sales of machineries, and equipments to facilitate the manufacturing of different products and components as opposed to the importation of finished products, to conserve our precious foreign exchange.
Each unit in adherence to the 21st century demands of ECO friendliness and nature, will thus prevent environmental degradation.
This will provide practical experience which would give our youths (citizens) a strong sense of belonging, and a promise of hope hence promoting urbanisation in rural areas of the county and stem rural to urban migration by providing wealth in the rural communities where they live. This essentially will prevent overcrowding in already established parts of the country and also keep youths off the streets which will instil a sense of pride and dignity of labour in these youths.

With 50,000 units in each state, in each of the 37 states spread across the federation, they can focus based on the comparative advantages and specialization due to locational advantages in raw materials as well as geographic considerations. The communities will be complemented with suitable living establishments and infrastructure such as good roads, health centres, recreational facilities that will aid the agglomeration of the RURAL economies and communities and spur them into mini vibrant cities.
Clusters can be powered through renewable energy as a backup to the national grid power supply.

All this can be achieved with the aid of public private sector investment through lease holds of 10 to 25 years that will unleash and enable patient capital required to catalyse economic growth, jobs and entrepreneurship for our youths.

If this is done well, it will improve the GDP of the country and leapfrog into a modern industrialized economic power house that can serve the entire African continent.

We believe this new administration would promote commerce and industry and we pray for the President-elect by God’s grace to consider this and add it to his laudable agenda and blue print for the rebirth of our great Nation Nigeria.

By the same token we appreciate the good works done by the Governor of Lagos state His Excellency Governor Babajide Sanwo-Olu and his esteemed Deputy His Excellency Dr Obafemi Hamzat, who have continued to build on the foundation laid down by the President-elect in sustaining the transformational agenda of the state and making it a centre of excellence for Lagosians and many Nigerians at large.

We can see a GREATER NIGERIA RISING.

God bless Nigeria and the Entire citizens of Lagos State. Amen.

BIG STORY

BREAKING: GTCO Becomes First Banking Stock To Exceed N100 On NGX

Published

on

Guaranty Trust Holding Company has achieved a strong mid-market showing during the July 16, 2025, trading session, surpassing the N100 milestone.

This makes GTCO the first banking stock listed under the NGX Banking Index to cross the N100 benchmark, while Stanbic IBTC Holdings remained just below at N99.

The upward movement aligns with the broader positive sentiment in the banking sector, where the NGX Banking Index has gained over 22% so far in July.

The development follows GTCO’s recent dual listing, which involved 2.29 billion ordinary shares being listed on the London Stock Exchange on July 9, 2025, and another 2.28 billion shares added to the Nigerian Exchange the next day.

The stock’s rise appears driven by investor response to its cross-border listing and its strong Q1 2024 financial performance. Month-to-date, GTCO has posted a gain exceeding 27%.

Continue Reading

BIG STORY

BREAKING: Atiku Abubakar Resigns From PDP

Published

on

The presidential flagbearer of the Peoples Democratic Party in the 2023 general elections, Alhaji Atiku Abubakar, has officially withdrawn his membership from the opposition party.

Atiku submitted his resignation ahead of the 2027 general elections, following confirmation of his involvement in forming a new coalition known as the Alliance Democratic Congress.

The resignation was contained in a letter dated Monday, July 14, 2025, and addressed to the chairman of the PDP in Jada 1 ward, Jada Local Government Area, Adamawa State.

A copy of the letter was shared on X by the Special Assistant on Media to the former Vice President on Wednesday.

The letter stated, “I am writing to formally resign my membership from the People’s Democratic Party (PDP) with immediate effect.

“I would like to take this opportunity to express my profound gratitude for the opportunities I have been given by the party.

“Serving two full terms as Vice President of Nigeria and being a presidential candidate twice has been one of the most significant chapters of my life.

“As a founding father of this esteemed party, it is indeed heartbreaking for me to make this decision.

“However, I find it necessary to part ways due to the current trajectory the party has taken, which I believe diverges from the foundational principles we stood for. It is with a heavy heart that I resign, recognising the irreconcilable differences that have emerged.

“I wish the party and its leadership all the best in the future. Thank you once again for the opportunities and support.”

 

More to come…

Continue Reading

BIG STORY

EFCC To Appeal Ruling Acquitting Fayose Of Money Laundering Charges

Published

on

The Economic and Financial Crimes Commission (EFCC) says it will challenge the judgment that cleared Ayodele Fayose, former governor of Ekiti state, of money laundering and fraud accusations.

In his decision on a no-case submission, Justice Chukwujekwu Aneke ruled that the prosecution did not provide enough evidence to require Fayose to present a defence.

After the judgment, EFCC counsel Rotimi Jacobs stated that the commission would obtain the certified judgment and begin the appeal process.

Fayose and his company, Spotless Investment Limited, had been re-arraigned on an 11-count charge of laundering ₦6.9 billion, allegedly during his time as governor.

The charges included allegations that Fayose received ₦1.2 billion for his 2014 campaign and accepted $5 million in cash from Obanikoro, bypassing standard banking procedures.

He was also accused of laundering several sums and using over ₦1.6 billion to purchase properties via proxies and firms such as De Privateer Ltd and Still Earth Ltd, contrary to the Money Laundering (Prohibition) Act, 2011.

During the May 19 no-case submission, Kanu Agabi, Fayose’s lawyer, argued that the prosecution failed to prove its case and pointed out that Abiodun Agbele, allegedly central to the transactions, wasn’t charged, which weakened the EFCC’s position.

“With due respect, the predicate offences do not hold water. Criminal breach of trust and conspiracy are distinct offences, and no co-conspirator was charged,” Agabi stated.

He asked the court to find that Fayose had no case to answer.

Olalekan Ojo, lawyer for the second defendant, also submitted a separate no-case application dated March 21, 2025, with supporting documents filed on May 16.

Ojo contended that the main evidence provided by the prosecution, particularly Obanikoro’s testimony, was unreliable since he confirmed there was no direct communication between Fayose and Sambo Dasuki, the former national security adviser.

Jacobs, however, urged the judge to dismiss the no-case submissions, arguing that there were unexplained financial activities that needed clarification.

He questioned why Fayose didn’t use his personal account if the money was legitimate, referencing EFCC investigator Abubakar Madaki’s claim that Fayose acquired properties through associates who later denied ownership, even though Fayose admitted the properties were his.

“If the money was clean, why not buy the properties in his name?” Jacobs asked.

He also referred to Obanikoro’s account that Fayose requested the money in cash and introduced Agbele to receive it, saying Fayose must explain these actions.

Despite these arguments, the court ruled in favour of the defendants and granted the no-case submission.

Continue Reading



 

Join Us On Facebook

Most Popular