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The Ministerial-Designate for Power, Joseph Olasunkanmi Tegbe, has pledged to transform the power sector through high levels of transparency in his reforms to resuscitate the sector, which has been plagued by incessant national grid collapses and power failures Tegbe, who spoke during the Senate screening on Wednesday, 6th May, 2026, acknowledged persistent challenges across the power value chain, noting that while there is no “quick fix,” there is a “disciplined path to solving it,” anchored on execution discipline and measurable progress. “We will not do things the way we used to do before. I will not promise what I cannot…
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First HoldCo Plc. (“FirstHoldCo” or the “Group”) today announces its audited results for the financial yearended December 31, 2025.Financial Highlights For footnoted information, refer to Page 9 Wale Oyedeji, the Group Managing Director while commenting on the results stated that: “2025 was a defining year for FirstHoldCo, characterized by disciplined execution, resilient coreearnings and a comprehensive reset of our balance sheet for sustainable performance and high-quality growth. Gross earnings grew by 6.9% to ₦3.4 trillion, underpinned by strong net interest income growth of 36.8% and continued momentum in our digital and transactional franchises. Importantly, we comprehensively de-risked the Group’s balance…
Access Holdings Plc has reaffirmed its commitment to long-term shareholder value and sustainable returns, following a strong performance in the 2025 financial year, while providing clarity on the rationale for the nonpayment of dividends for the year ended December 31, 2025. The clarification was provided during the Group’s Full Year 2025 Investors and Earnings Call, where management addressed shareholder concerns regarding the absence of a dividend declaration despite the Group’s robust earnings growth and balance sheet expansion. Access Holdings emphasized that the non-payment of dividend for the 2025 financial year was not performance driven, but reflected prudential regulatory alignment matters…
The Nigerian Senate on Wednesday screened the Minister of Power designate, Engr. Joseph Olasunkanmi Tegbe, with discussions centred on his reform agenda and plans to address longstanding challenges in the power sector. During the session, Senators acknowledged his experience across public sector reform and infrastructure, noting that his cross-sector background positions him to support ongoing efforts to stabilize the sector. In his address, Tegbe stressed the importance of electricity to national development, stating: “Electricity is not just a sector. It is the foundation of productivity, dignity, and national confidence.” He acknowledged persistent challenges across the power value chain, noting that…
JMG Limited, Nigeria’s leading integrated electromechanical solutions company, has reinforced its market leadership with a series of high-impact engineering and infrastructure projects delivered in the first quarter of 2026. Spanning industrial manufacturing, retail operations, and nationwide logistics, the projects collectively reflect a deliberate strategy to build interconnected systems that drive efficiency, resilience, and scale. This integrated approach is evident in the company’s recent work across critical sectors. In industrial space, operations at the Dangote Cement Gboko plant were significantly enhanced through a comprehensive compressed air system upgrade by JMG Industrial, the Air Compressor division of JMG Limited. Following a detailed system…
Our attention has been drawn to inaccurate media reports alleging that the Honorable Minister-designate, Joseph Olasunkanmi Tegbe, promised to fix Nigeria’s power grid within three months. This claim is a clear misrepresentation of his remarks. At his Senate screening on May 6, 2026, Mr Tegbe made no such commitment. He stated unequivocally that the timelines are still being worked on and subject to diagnostics and stakeholder engagements. While assuring that initial grid stabilization efforts would commence within the first 100 days, he made clear that structural reforms, particularly in sector credibility, gas supply, and metering, might take about a year.…