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Elumelu’s Heirs Holdings to Generate ¼ of Nigeria’s Power Consumption

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Tony Elumelu, well-known global business leader and chairman of Heirs Holdings has said that the group “has the ambition to generate at least a quarter of Nigeria’s power consumption needs in the next five years.” 

Heirs Holdings’ interests in the power sector include Transcorp Ughelli Power, a gas-fired, thermal power generating plant which was acquired under the privatisation of Nigeria’s power sector.

Elumelu will deliver the keynote address at this year’s West African Power Industry Convention (WAPIC) in Lagos from November 18-19.

The 11th edition of this long running, high-level energy conference and expo will once again gather government, utilities, consultants and investors to discuss the challenges of local markets, capacity building and investment.

According to the Heirs Holdings chairman “the power industry is a catalytic sector and the development of our country and our continent cannot happen without fixing it.”

He described the USA’s Power Africa Initiative as “an amazing opportunity to democratize access to power for Africans, and the $2.5 billion investment commitment we have made reflects exactly how excited I am about it.

The present administration made a bold decision when it decided to affect the changes envisaged by the Power Sector Reform Act — legislation that had been on the books since 2005.

And that bold step was reinforced during President Barack Obama’s last visit to Africa. We felt more strongly than ever, the need to help power Africa.”

He continued  “our experience so far at Ughelli power plant is testimony to the size of the opportunity; our amazing team has taken that plant from 150MW capacity when we took over in November 2013, to 450MW today; we expect it to increase 700MW by October and to achieve 1000MW by the second quarter of 2015. At that rate, we’ll be contributing 20 per cent of Nigeria’s total power generation.“

Furthermore, he said that  they are working on a greenfield project that will expand the capacity of Ughelli by an additional 1000MW in the next three to five years and they have signed an MOU with GE and Symbion Power to facilitate this.

Elumelu listed  three main challenges in the Nigerian power sector, namely unreliable transmission infrastructure, access to uninterrupted gas supply and timely settlement of invoiced payments.

He added: “in Nigeria, one of the biggest challenges to power generation is transmission and in fact, while Ughelli Power Plant generated at full capacity for the first time in July, we’ve been asked to scale down generation because of the outdated transmission systems; for every 100MW generated and sent to transmission companies, 40 per cent is lost, in part because of this infrastructure issue.”

While regulation is not a key challenge, says the Heirs Holdings chairman, it is an issue within the sector that if addressed, has the potential to speed sector growth exponentially.

“We need pragmatic regulation that recognizes that within Nigeria, the sector is nascent and so policies must be designed to encourage growth. In fairness, the federal government is confronting these challenges head on.”

Elumelu has termed his economic philosophy as “Africapitalism”, which he says places more weight on long-term investments in key sectors that drive growth.

He explained: “my personal experience also suggests that sustained economic prosperity must be inclusive and must create social wealth.  Africapitalism is my attempt to advocate and promote what has worked for me. We as Africans are uniquely qualified to take the lead and develop Africa. I think we need to be more self-confident in order to create the sort of future our children deserve. All the ingredients for success are here in Africa and investing for the long term in key sectors, our people, and processes, will help to solve our problems and retain wealth within the continent.”

 During his keynote address at WAPIC in Lagos in November, Tony Elumelu said  he will “discuss the opportunities that I have discovered in the power space and the efforts of African power sector leaders through the West African Energy Leaders Forum to improve access to electricity across West Africa.”

The event is organised by Spintelligent, leading Cape Town-based trade exhibition and conference organiser, and the African office of Clarion Events Ltd in the UK.


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Africa Enters Age of Intelligence with an Advantage

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Africa heads into the Age of Intelligence with a distinct advantage: its people. By 2030, Sub-Saharan Africa will account for half of all new workers worldwide.

According to a new report, this is more than just a demographic fact; it is a historic opportunity. The report also states that talent remains the critical foundation of the AI stack—talent, data, compute, and use cases.

Zindi’s Kenya country report, compiled in collaboration with Dalberg Data Insights and the International Centre for AI Research Ethics, explored employability and career outcomes.

Zindi is professional community of African data scientists, working to solve the world’s most pressing challenges using machine learning and AI.

The report’s forward was written by Philip Thigo, special envoy on technology of Kenya, and states that without skilled employees, data is unrefined, compute is idle, and use cases are irrelevant. And he makes it clear: Africa’s talent is already contributing to the global AI economy, rather than waiting to be included.

Thigo goes on to say the evidence is compelling, stating: “Nearly 1 in 5 Kenyan Zindi users experienced a career change after joining the platform.

“More than 80% of those with completed profiles advanced in their careers, compared to just 3% without.

“Completing four or more challenges makes a user four times more likely to secure employment, while engaging in teams and discussions makes them three times more likely to get jobs.”

“These findings highlight an important truth: employability today is built not just in classrooms, but also in communities of practice, peer learning, and collective intelligence.”

According to Thigo, in this dynamic talent climate, companies must look beyond degrees and leader boards to find a vast pool of market-ready AI talent defined by resilience, collaboration, and creativity.

Similarly, politicians and educators are informed that the message is obvious.

Thigo writes: “If Africa is to secure its place in the digital economy, we must reimagine how we connect our youth to opportunity. Platforms like Zindi show that talent is abundant; what is needed are pathways that translate skills into livelihoods, and ecosystems that link learning to work.”

For Kenya, he notes that this resonates deeply with the country’s broader ambition: to build a sovereign AI ecosystem powered by African talent, clean data, and green compute—ensuring that Africa is not just a consumer of technology, but a creator of it.


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NITDA Calls for a Safer Tomorrow @ National Cyber Security Awareness Month 2025

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As the world becomes increasingly digital, our daily lives are now more connected than ever, through our phones, computers, and the internet we use every day. But with this growing connection comes a growing risk: hackers, scams, and cyber threats waiting for just one careless click.

The National Information Technology Development Agency (NITDA) is using this Cybersecurity Awareness Month to remind Nigerians that cyber safety begins with individual responsibility.

Everyone has the power to protect themselves and their communities by adopting simple but effective cyber hygiene practices, including:

  • Using strong and unique passwords for all online accounts.
  • Enabling two-factor authentication to add extra security layers.
  • Keeping devices and applications updated regularly.
  • Backing up important data frequently.
  • Avoiding suspicious links or attachments from unknown sources.
  • And thinking carefully before sharing personal or financial information online.

The theme for this year, “Cyber Hygiene for a Safer Tomorrow,” emphasizes that cyber hygiene is not only a personal responsibility but a collective effort. When individuals protect themselves, they also safeguard their families, workplaces, and the broader digital community.

As we continue to build a secure and digitally resilient Nigeria, NITDA calls on all citizens to stay alert, click wisely, and stay safe online.


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Nigeria Launches Excellence in Tax Reform Reporting Award for Journalists, Influencers

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The Presidential Fiscal Policy and Tax Reforms Committee has unveiled the Excellence in Tax Reform Reporting Award, a landmark initiative to recognise and reward journalists and online influencers who provide balanced, accurate, and impactful reporting on Nigeria’s ongoing tax reforms.

The Award seeks to strengthen constructive public discourse, counter misinformation, and elevate journalism that explains reforms in ways citizens can trust and understand.

Announcing the initiative, the Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, stated: “The media is central to shaping narratives and building public trust. By equipping and rewarding journalists and influencers, we aim to ensure that the tax reform conversation is constructive, inclusive, and anchored in truth. This is how we build public confidence in reforms designed to secure our nation’s future.”

About the Award

  • Eligibility: Open to all Nigerian journalists across print, broadcast, and online platforms, as well as digital influencers, bloggers, and podcasters.
  • Entry Requirements: Published work between 1 July – 31 December 2025, in English, Pidgin, Hausa, Igbo, or Yoruba, that explains, analyses, or reports on the tax reform. Entries in local languages are to be submitted along with the English translations. Videos or podcasts should not exceed 10 minutes.
  • Awards Structure: 1st Prize: ₦10m, 2nd Prize: ₦5m, 3rd Prize: ₦3m. The Top 20 finalists will receive ₦1m consolation prize each with plaques. Gadgets and training fellowships may also be provided.

 Evaluation Criteria

Submissions will be judged on:

  1. Accuracy & Technical Correctness
  2. Balance & Fairness
  3. Clarity & Accessibility
  4. Public Engagement & Reach
  5. Creativity & Innovation

Awards Gala

Winners will be announced at a high-profile ceremony either in Lagos or Abuja, which may be broadcast live on major TV stations with livestreams on YouTube and X Spaces.

How to Apply

Applications will open via the official portal by the end of the year: fiscalreforms.ng

Follow updates on social media with #ExcellenceInTaxReporting.

 


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