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Nigeria Must Build Businesses That Last, Tony Elumelu Says, Urging Shift From Start-Ups to Sustainable Enterprises

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Tony Elumelu, Chairman of Heirs Holdings and Founder of the Tony Elumelu Foundation (TEF), says Nigeria’s entrepreneurial potential is undeniable, but long-term national prosperity depends on building businesses that endure, scale, and outlive their founders.

Speaking on Nigeria’s economic future, Elumelu said too many promising ideas fail because entrepreneurs lack supportive systems, governance structures, and an enabling environment. He noted that while Nigerians remain some of the most enterprising people in the world, sustainability — not just start-up energy — must define the country’s next economic chapter.

“Starting businesses is good. But sustaining them is critical,” he said. “Success is not about today; it’s about what remains when you’re gone. Purpose builds legacies — not short-term profit.”

Entrepreneurs, Not Government Handouts, Will Build Nigeria

Elumelu stressed that Nigeria’s transformation will not come from government handouts or foreign aid. Instead, he said, private sector-led growth — driven by entrepreneurs building strong institutions — will be the engine of national renewal.

“Government has an important role, but Nigeria will be built by entrepreneurs creating jobs, hope, and prosperity from the ground up,” he said. “But they need frameworks: governance, succession planning, and a relentless focus on value.”

TEF’s Model: Training Before Capital

Outlining the philosophy behind the Tony Elumelu Foundation entrepreneurship programme, Elumelu said the USD5,000 seed capital given to each beneficiary is only one part of the intervention. The bigger lever, he emphasized, is the mandatory 12-week business management training offered to African entrepreneurs.

“We do this to enlarge our private sector. The private sector is the engine of Nigeria’s renewal,” he said. “That’s Africapitalism — using business to build Africa while doing well and doing good.”

So far, TEF has funded over 24,000 Africans, including 9,229 Nigerians, with mentorship, capital, and business development support, enabling them not just to launch, but to scale, export, and create jobs.

Infrastructure, Predictability, and Access to Finance Still Major Gaps

Elumelu called for a Nigeria where economic policies are predictable, infrastructure is reliable, and financing is genuinely accessible to entrepreneurs at all stages of growth.

He noted that these elements are essential if Nigeria is to unleash the full potential of its young, ambitious population — many of whom are already running global operations from their smartphones.

Commendations to Government and SMEDAN

Elumelu acknowledged ongoing government reforms, commending President Bola Ahmed Tinubu for placing young Nigerians in strategic agencies and supporting youth entrepreneurship initiatives.

He also praised SMEDAN’s Director-General, Charles Odii, for reforms aimed at strengthening the MSME ecosystem.

“Our work — government, private sector, institutions — must be connected, not siloed,” he said. “Let us cut bureaucracy and make opportunities real, not theoretical.”

Digital Infrastructure and Power Now National Priorities

Elumelu warned that Nigeria risks being left behind in the AI-driven global economy unless it rapidly improves electricity, digital access, and technology infrastructure.

He referenced his remarks at the recent IMF meetings in Washington, where he underscored the need for African inclusion in emerging technologies.

“Without power and digital infrastructure, Africa will be left behind again,” he said. “We need to act now — for Nigeria, for Africa.”

From Start-Ups to Scale-Ups: A National Call to Action

In a message directed at entrepreneurs, policymakers, and business leaders, Elumelu said Nigeria must move from survival-mode entrepreneurship to institution-building.

“Our entrepreneurs are tough and resilient — but hardship shouldn’t be our default strategy,” he said. “Resilience must lead to innovation, not just survival.”

He challenged Nigerian entrepreneurs to think boldly:

  • Don’t just start — scale.
  • Don’t just build for profit — build for purpose.
  • Don’t think of today — think generations.

He concluded that Nigeria’s long-term success requires turning “hustle into history” and building enterprises that create jobs, expand the tax base, and power inclusive prosperity.

“That’s how we build a Nigeria that works for all,” he said.

 

Tom Cruise Finally Becomes an Oscar Winner at the 2025 Governors Awards

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Hollywood icon Tom Cruise has officially become an Academy Award winner, receiving an Honorary Oscar at the Academy’s Governors Awards in Los Angeles. The 62-year-old star was celebrated for his exceptional, decades-long influence as both an actor and producer, as well as his unwavering commitment to sustaining the global cinema experience.

The Academy praised Cruise not only for his blockbuster legacy but also for his advocacy for theatrical filmmaking, crediting him with helping keep big-screen cinema alive in an era of rapid digital transformation.

Before this historic moment, Cruise had earned four Oscar nominations throughout his career but had never claimed a win—making the Honorary Award a long-anticipated milestone for one of Hollywood’s most enduring figures.

This year’s Governors Awards also honored other industry trailblazers. Debbie Allen, the legendary actress, dancer, director, and producer, received an Honorary Award in recognition of her multifaceted contributions to the arts. Renowned production designer Wynn Thomas, known for his groundbreaking work in shaping the visual identity of modern American cinema, was similarly recognized.

Meanwhile, music icon Dolly Parton was presented with the Jean Hersholt Humanitarian Award for her decades of charitable impact and global philanthropy.

The evening underscored the Academy’s celebration of excellence on and off the screen, marking a landmark year for some of entertainment’s most influential talents.

Benin’s Parliament Approves Constitutional Reform Extending Presidential Term & Creating Senate

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Benin’s National Assembly has passed a sweeping constitutional reform that extends the presidential term from five to seven years while preserving a two-term limit, and establishes a new Senate, marking a major restructuring of the country’s political system. 

Key Changes Passed

  • The amendment was approved by 90 votes in favor, with 19 against.  
  • Article 42 of the constitution has been revised to state that the President “is elected by direct universal suffrage for a term of seven years, renewable only once.”  
  • The two-term limit remains intact — “No one may, in his lifetime, serve more than two terms as President.”  
  • Deputies in the National Assembly will now also serve seven-year terms, with provisions that any member who leaves the party that nominated them automatically loses their mandate.  

Creation of the Senate

  • The reform establishes a bicameral legislature, adding a Senate alongside the National Assembly.  
  • The Senate is expected to comprise 25–30 members, including former heads of state, ex-officio political actors, and presidential appointees.  
  • Under the new Article 113.1, the Senate is tasked with regulating political life and safeguarding “national unity, democracy, development, territorial defence, public security, and peace.”  
  • The body holds the power to request a second reading of laws passed by the National Assembly, though it will not review finance laws.  

Broader Implications & Reactions

  • The constitutional changes come ahead of Benin’s 2026 presidential election, scheduled for April.  
  • Outgoing President Patrice Talon, who will complete his second term next April, will not run again under the new rules.  
  • Finance Minister Romuald Wadagni, a close ally of Talon, is widely seen as the front-runner for the 2026 race.  
  • Opposition lawmakers have voiced concern, accusing the process of reinforcing Talon’s influence even after he leaves office. One opposition figure argued that the Senate could allow Talon to maintain significant post-presidential power.  
  • The reform must still be ratified by Benin’s Constitutional Court before it comes into effect.  

Significance

This move represents a notable shift in Benin’s governance architecture, potentially strengthening political stability but raising questions about democratic balance and long-term checks on executive power. The introduction of a Senate and longer terms for both the executive and legislature may reshape how politics and power function in the country, especially as key players position themselves for the upcoming election.

 

 

Nigeria’s Inflation Rate Falls to 16.05% in October 2025 as Food & Core Costs Ease

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Nigeria’s headline inflation rate eased significantly to 16.05% in October 2025, down from 18.02% in September, according to the latest Consumer Price Index (CPI) report from the National Bureau of Statistics (NBS).

Key Details from the Report

  • The drop marks the seventh straight month of easing inflation in the country.  
  • Food inflation declined to 13.12% year-on-year, a sharp improvement from the 39.16% recorded in October 2024.  
  • Core inflation (which excludes volatile food and energy items) stood at 18.69% year-on-year, with a month-on-month rate of 1.416%, nearly unchanged from September.  
  • On a regional level, the highest state-level inflation was recorded in Ekiti State at 20.14%, while the lowest was in Bauchi State at 9.99%.  

What’s Behind the Decline?

Economists attribute the slowdown in headline inflation primarily to:

  • Improved food supply and harvesting conditions, which helped contain food price growth.
  • Continued monetary-policy and currency-stabilisation efforts, which have helped dampen inflation expectations.
  • A stabilising exchange rate environment reducing imported–price pressure.

However, the relatively high core inflation rate hints that underlying price pressures—such as housing, transport and other services—remain elevated.

What Comes Next?

Analysts expect a mild further slowdown in inflation in November, provided food supply remains stable and energy/transport prices hold steady. If food prices swing upward again or external shocks hit (e.g., exchange-rate volatility or fuel hikes), inflation could stagnate or reverse.

Policy Implications

  • The data gives policymakers room to maintain or gradually ease monetary-policy restrictions—though the high core inflation means they must still proceed cautiously.
  • The large state-level variation suggests that inflation-fighting efforts may need to be tailored regionally, especially in states like Ekiti where inflation remains significantly above the national average.
  • Consumers and businesses may begin to see modest relief in cost pressures, which could support private-sector activity and spending—but the benefit may arrive unevenly across states.

 

FG Opens Application Portal for Student Venture Capital Grant, Offers Up to N50m Equity-Free Funding

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The Federal Government has officially launched the application portal for the Student Venture Capital Grant (S-VCG), a nationwide initiative designed to support student-led enterprises with equity-free funding of up to N50 million.

The programme targets young innovators enrolled in tertiary institutions across all 36 states, the FCT, and the 37th category of federal institutions, ensuring broad national participation and inclusive access to capital.

According to the government, the S-VCG is structured to stimulate a new generation of youth-driven enterprises capable of solving local and global problems while contributing to Nigeria’s economic transformation.

The initiative focuses on students building ventures within STEMM disciplines, including:

  • Science: biotechnology, agricultural innovation, and applied scientific research.
  • Technology: software development, artificial intelligence, hardware design, and digital platforms.
  • Engineering: machinery, sustainable infrastructure, fabrication, and industrial systems.
  • Mathematics: data analytics, financial modeling, and algorithm-driven solutions.
  • Medical Sciences: health-tech, diagnostic tools, medical devices, and public health innovation.

Officials say the grant is part of a broader strategy to promote innovation-driven growth, unlock youth potential, and strengthen Nigeria’s position in the global knowledge economy.

Successful applicants will receive funding packaged to support prototype development, product scaling, and venture commercialization—without giving up equity.

The application portal is now live, with the government urging students with viable ideas to take advantage of the opportunity.

Ranks Africa Finalizes the Acquisition of Africa Energy Sector Platform, Rebrands as AFRENSE

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Ranks Africa has officially finalised the acquisition of the Africa Energy Sector (AES) platform, marking a major strategic expansion into the continent’s fast-growing energy and innovation ecosystem. Following the acquisition, the platform has been rebranded as AFRENSE, a modern, startup-friendly hub built to redefine how Africa’s energy sector connects, collaborates, and grows.

AFRENSE — derived from Africa Energy Sector — introduces a refreshed identity and an expanded mandate that aligns with Ranks Africa’s broader mission of building powerful platforms across key industries. The new brand captures a bold vision: to serve as the central digital gateway for Africa’s energy future.

AFRENSE Now Operates Through Three Core Pillars

1. AFRENSE Media

A dedicated digital media powerhouse delivering breaking news, industry intelligence, founder spotlights, energy innovations, clean-tech updates, and in-depth analysis across the entire African energy landscape.

2. AFRENSE Connect Hub (formerly directories)

A fully modernised sector-wide connection engine linking:

  • Founders
  • Investors
  • Talent & Skilled Professionals
  • Innovators & Startups
  • Energy Companies & Service Providers

This upgraded hub functions as Africa’s largest sector-focused marketplace for collaboration, opportunities, and partnerships.

3. AFRENSE Opportunities & Events

A pipeline of initiatives designed to build community, talent, and innovation across the industry:

  • ES Founders Series – spotlighting visionary leaders shaping Africa’s energy future.
  • ES Tours – curated ecosystem visits showcasing projects, facilities, and breakthroughs.
  • ES Job Fair – connecting employers, job seekers, and emerging talent across energy careers.
  • Additional programs including investment meetups, innovation challenges, and talent pitch sessions.

A Platform Built for the Future of Africa’s Energy Economy

With this acquisition, Ranks Africa is positioning AFRENSE as the continent’s most comprehensive energy-sector platform—where media, opportunities, technology, and community come together to power industry-wide growth.

AFRENSE will continue rolling out new features, tools, and sector-building initiatives in the coming months as part of its mission to accelerate Africa’s transition, elevate indigenous energy leadership, and foster global collaboration.

Meet Ifeyinwa Azubike — The Visionary Behind The Ladymaker

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In this edition of the Ranks Africa Spotlight Series, we spotlight a woman whose work embodies depth, discipline, and unmatched creative excellence. Ifeyinwa Ojukwu Azubike, founder of The Ladymaker, represents the kind of brilliance that defines legacy. She does not just lead a fashion brand; she leads a movement that continues to shape culture and elevate African craftsmanship on the global stage.

To encounter Ifeyinwa’s work is to understand intentionality at its highest expression. When you see her, you instinctively rise to give her the kudos she deserves. She is far beyond the label of a top female designer. She is one of Africa’s most important fashion brand founders in 2025, a visionary who has built one of the continent’s top fashion brands through purpose, refinement, and an unwavering commitment to storytelling.

This spotlight accompanies our exclusive Ranks Africa interview, where she opens up about the last ten years of The Ladymaker. She shares insights on legacy, evolution, identity, craftsmanship, challenges, sustainability, and the philosophy that has shaped the brand’s enduring presence.

Ten Years of The Ladymaker: Legacy, Evolution and The Graffiti Collection

Ten years of The Ladymaker is a defining milestone. Reflecting on the journey, Ifeyinwa describes it as a decade of gratitude, persistence, and growth. What began as an idea has matured into a world of design, culture, and craftsmanship expressed through an unmistakable African lens.

The Ladymaker has evolved into a brand that stands at the intersection of heritage and modernity. It celebrates elegance, intellect, intention, and identity. From Ceramica to Indigo to Cosmicology, each collection has sharpened the brand’s voice, but Graffiti marks a bold new chapter. Inspired by expression and cultural liberation, the collection reimagines what a Lady wears, introducing a confident, colorful visual language while preserving its signature elegance.

Her reflections on creativity, community, cultural responsibility, and business expansion reveal a leader who is building with both heart and structure. She speaks openly about the realities of building in Africa, the resilience required, the discipline behind sustainability, and the long term vision guiding The Ladymaker’s next decade.

Why This Spotlight Matters

Because The Ladymaker is not just designing garments; she is shaping narratives, preserving culture, and building legacy.
Because Ifeyinwa is not just a creative force; she stands among the most influential fashion brand founders in Africa today.
Because ten years of consistency, storytelling, mastery, and impact deserve the highest recognition.

This feature marks her as a standout in our 2025 fashion excellence recognitions, a testament to her influence and the brand’s unwavering refinement.

Read the exclusive interview conducted by our team to experience her journey, her vision, and her evolution in her own words.

Ten years of The Ladymaker is a remarkable milestone. Looking back, what emotions come to the surface when you reflect on the journey so far?

Mostly gratitude. Ten years ago, The Ladymaker was just an idea, and looking back now, I see a decade of persistence, growth, and meaning. We’ve weathered many seasons – creative, economic, and personal—and yet the brand continues to evolve with purpose. That continuity is what I’m most grateful for.

When you founded The Ladymaker, what was the original vision and how has that vision evolved over the past decade?

The vision was simple at the onset: to create clothing that captured the elegance of womanhood while celebrating African heritage. Over time, that vision has matured into something more layered—a full world that blends design, culture, and craftsmanship. In the early years, it was about proving that an African brand could be refined and distinctive. Now, it’s about building systems, deepening our craftsmanship, and shaping a global conversation about beauty through an African lens.

THE JOURNEY & BRAND IDENTITY

The Ladymaker has come to represent cultural elegance, craftsmanship, and intentional storytelling. How would you personally describe the brand’s identity today?

Today, The Ladymaker stands as a bridge between heritage and modernity—a brand rooted in African culture but expressed in a timeless, universal language. It’s about grace, intellect, and artistry. Each piece is designed to make women feel powerful yet feminine, distinct yet connected to something bigger than fashion. There is a very strong sense of individuality and identity.

What were the defining moments that shaped the brand’s growth both creatively and operationally?

Creatively, each collection marked a turning point. Ceramica sharpened our design voice; Indigo deepened our connection to craft; Cosmicology opened a world of texture and dimension. But Graffiti has truly redefined us—it marked our transition into a bolder, more confident era.

Operationally, the defining moments have been around structure. Building a strong team, systemizing production, and learning to balance artistry with business discipline—all of these shaped the brand into a sustainable entity beyond a creative project.

Across ten years, what would you say has been your greatest lesson in building a sustainable fashion brand in Africa?

That creativity alone isn’t enough. Sustainability in Africa requires resilience, systems, and an unrelenting sense of purpose. You need structure as much as a creative soul. We’ve learned to think long-term and to build internal capability and prioritise commercial feasibility as much as craftsmanship.

THE NEW GRAFFITI COLLECTION

The new Graffiti Collection stands out boldly from your previous work. What inspired this shift in visual language and aesthetic direction?

Graffiti was born out of a desire to break form – to express a new interpretation of ‘what a Lady wears’. I wanted to explore a more colorful vocabulary that still carried our signature elegance. The collection represents a woman stepping fully into her own space and embracing her individuality.

Graffiti is historically associated with rebellion, expression, and cultural commentary. What narrative or message is The Ladymaker conveying through this collection?

Our understanding of Graffiti speaks of liberation, artistry and evolution. Through bold prints and fluid forms, it celebrates the modern African woman, who is rooted, expressive, and endlessly multifaceted. The message is simple: elegance and the unexpected can coexist beautifully.

Could you walk us through the creative and technical process behind developing these pieces—from concept to fabric to final silhouette?

We started with research—images of walls, urban textures, and expressive brushwork that reminded us of Lagos itself: vibrant, layered, imperfectly beautiful. We collaborated with textile artists to reinterpret these impressions into print. The silhouettes were designed to flow, allowing color to move freely on the female form. The technical process was intense—developing prints digitally, refining proportions, and ensuring each piece still embodied our craftsmanship. Looking back, it was one of the most challenging but creatively rewarding collections we have created.

CREATIVITY, CULTURE & CONTEMPORARY AFRICAN DESIGN

How do you balance honoring African cultural heritage while also pushing the boundaries of modern design?

For me, heritage is a foundation that I approach with curiosity rather than nostalgia. The aim is to reinterpret from a personal worldview, and this view constantly evolves.

In what ways has the Nigerian (or broader African) fashion ecosystem influenced the evolution of your work?

It’s been both inspiration and motivation. African fashion has so much energy—it’s constantly reinventing itself despite challenges. That environment forces you to be resourceful, adaptable, and intentional. The ecosystem’s vibrancy pushes us all to define what “African luxury” truly means on our own terms.

THE 10-YEAR ANNIVERSARY EXPERIENCE

The anniversary event was both celebratory and reflective. What experience were you hoping to leave with your guests and community?

I wanted it to feel like both a celebration as well as a chance to pause and acknowledge the journey. Beyond the fashion show, it was about gratitude: to our clients, artisans, and supporters who have sustained the brand for a decade. I hoped guests left with a renewed sense of what The Ladymaker stands for—purpose, beauty, and persistence.

What moments from the anniversary celebrations felt most meaningful to you personally?

The finale. Standing backstage and watching the models walk, I felt an overwhelming mix of calm and pride. Beyond the Graffiti collection, it was about the ten years that brought us there. Seeing our longstanding clients, friends of the house, the team and my family celebrate that moment made it unforgettable.

The reunion of past clients, patrons, and collaborators created a sense of community. How has community shaped The Ladymaker’s journey?

Community is our foundation. Many of our clients have grown with us—through different life stages and seasons. That enduring relationship is what gives The Ladymaker its reason for being. After all, what is The Ladymaker without ‘The Lady’?

The fashion industry has transformed significantly in the last decade. Which challenges tested your resilience the most, and how did you overcome them?

Building within Africa brings unique challenges such as, limited infrastructure, supply chain constraints, lack of skilled personnel and macro economic shifts. We have learned to innovate within these limitations and focus on continuing to provide great value, which will always be relevant to the woman who needs it.

Sustainability and ethical production are gaining attention. How is The Ladymaker navigating this conversation in practice?

For us, sustainability starts with intentionality, which is why we prefer the classic of=ver the trendy, and prefer to create fewer, better things. We also repurpose existing fabrics and work closely with local artisans, ensuring fair and continuous employment. Sustainability for us is cultural and human as well as an environmental commitment.

Beyond creative evolution, what does business expansion look like for The Ladymaker in the next phase?

We’re focused on refining our internal systems and expanding regionally, and exploring global partnership opportunities. The next phase is about scalability—maintaining artistry while achieving commercial strength. We’re building toward a structure that allows The Ladymaker to thrive independently, sustainably, and globally.

Are there upcoming collaborations, retail expansions, or creative projects we should anticipate?

We’re exploring new partnerships across fashion, art, and cultural spaces. We’re also preparing for a new collection that continues our exploration of beauty through storytelling. There’s much to look forward to, but in our usual way—quietly, thoughtfully, and with intention.

Looking ahead to the next ten years, what legacy are you intentionally building?

I want The Ladymaker to stand as proof that African brands can build enduring legacies—rooted in heritage but expressed with global relevance. My hope is that when people look back, they see a world that celebrated African beauty in its most refined and resonant form.

If you could speak to the version of yourself who founded The Ladymaker 10 years ago, what would you say?

I’d tell her to trust start quickly and refine as she goes along, and explore all her ambitions and dreams as robustly as she can, because 10 years goes by much faster than one would think.

And finally, what message would you like to leave with the women and communities who have grown with the brand?

Thank you for believing, for wearing our story, and for walking this journey with us. The Ladymaker has always been about women. My hope is that the brand continues to remind us of the strength of individuality, ladyhood and following the road less travelled.

 

 

Federal Workers Demand Immediate Payment of Three-Month Wage Award Arrears

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Federal civil servants have called on the Nigerian government to promptly settle the three months of outstanding arrears from the N35,000 wage award approved last year to help workers cope with rising living costs.

In interviews with the News Agency of Nigeria (NAN) in Abuja on Sunday, the workers voiced growing frustration over what they described as an unexplained and increasingly troubling delay in the payment of the outstanding allowances. Many said the delay has deepened financial strain at a time when inflation continues to eat into salaries and household expenses remain elevated.

Several employees told NAN that the government’s slow response appears to be part of a broader pattern in which worker welfare issues receive little attention until public pressure mounts.

One civil servant described the situation as “disheartening,” noting that many colleagues had been relying on the wage award to offset mounting transport, food, and utility costs. Another worker said the delayed payments had left households struggling to meet basic obligations, despite repeated assurances from authorities.

Labour unions have repeatedly urged the government to honour all outstanding commitments related to the wage award, warning that prolonged delays risk further eroding morale within the public workforce.

The N35,000 wage award was introduced as a temporary palliative to ease economic pressure on federal employees following policy reforms that triggered higher living costs. Workers say the government must now prioritize clearing the arrears to restore confidence and provide much-needed relief amid persistent inflationary challenges.

Federal High Court Announces 2025 Christmas Vacation, Releases Roster of Vacation Judges

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The Federal High Court has announced its 2025 Christmas vacation schedule and published the roster of judges who will preside over matters during the holiday period. According to the court, the vacation will commence on December 19, 2025, with full sittings expected to resume across all judicial divisions on January 7, 2026.

The details were contained in a statement issued on Monday by the court’s Director of Information, Dr. Catherine Christopher, titled “Notice of 2025 Christmas Vacation and Roster for Vacation Judges.” Christopher noted that the schedule followed a circular approved and signed by the Chief Judge of the Federal High Court, Justice John Tsoho.

“The Federal High Court hereby issues notice of its 2025 Christmas Vacation as well as the approved Roster of Vacation Judges,” the statement read. “The court will commence its Christmas Vacation for the year 2025 on Dec. 19. This vacation schedule is issued pursuant to Order 46, Rule 4(c) of the Federal High Court (Civil Procedure) Rules, 2019 (as amended). Court sittings shall resume in all Judicial Divisions on Jan. 7, 2026.”

Christopher added that during the vacation period, the court’s core divisions Abuja, Lagos, and Port Harcourt will remain open and available to the public for urgent matters requiring judicial attention.

The roster of vacation judges is expected to guide legal practitioners and litigants seeking emergency hearings, especially in cases involving enforcement of fundamental rights, electoral matters, and time-sensitive applications.

Nigeria to Get 500 New CNG Refuelling Stations as MDGIF, Chinese Firm Seal Infrastructure Deal

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The Midstream and Downstream Gas Infrastructure Fund (MDGIF) has concluded high-level talks with Chinese manufacturing giant Endurance Group to deliver 500 Compressed Natural Gas (CNG) refuelling stations across Nigeria over the next three years one of the country’s most ambitious clean-fuel infrastructure projects to date.

Speaking with journalists after the meeting in Abuja, MDGIF Executive Director, Mr. Oluwole Adama, said the discussions centered on creating a government-backed Special Purpose Vehicle (SPV) designed to fast-track the nationwide rollout of CNG facilities and strengthen the backbone of Nigeria’s gas mobility sector.

“The collaboration underscores the parties’ commitment to accelerating Nigeria’s transition to cleaner fuels by addressing infrastructure gaps across the country’s CNG value chain,” Adama said.

He disclosed that the newly formed entity, Compressed Natural Gas Auto Mobility Infrastructure Company (CAM InfraCo), will serve as the primary implementation platform for the project.

“Under this agreement, we will set up the Compressed Natural Gas Auto Mobility Infrastructure Company (CAM InfraCo), which will be used to deploy 500 integrated CNG refuelling stations, develop LCNG gas supply infrastructure, and provide CNG and LNG transportation trucks with truck-mounted cascades, forming a virtual pipeline across all states nationwide,” he explained.

The initiative is expected to significantly boost Nigeria’s clean energy transition efforts, lower transportation costs, and support the Federal Government’s push to diversify energy sources amid global shifts toward low-carbon mobility solutions.

Industry stakeholders say the deployment of 500 stations could be a game-changer for the adoption of CNG-powered vehicles, providing the scale and accessibility required to reduce reliance on petrol and diesel nationwide.