News
InfraCo Africa Invests $27m in InfraCredit to Finance Infrastructure

InfraCredit, a specialised local currency infrastructure credit guarantee institution, has announced the completion of a $27 million equity investment by InfraCo Africa, part of the Private Infrastructure Development Group (PIDG).
InfraCo Africa’s equity investment makes it an equivalent shareholder alongside the Nigeria Sovereign Investment Authority (NSIA) and Africa Finance Corporation.
On account of this investment, Gilles Vaes, Chief Executive Officer (CEO) of InfraCo Africa, and Chief Investment Officer of InfraCo Africa, Claire Jarratt, will join InfraCredit’s Board of Directors.
Commenting, Vaes, said: “Our equity investment in InfraCredit marks the first major transaction of our dedicated investment vehicle, InfraCo Africa Investments. The infrastructure financing gap in Africa is large and requires approaches that increase the scale and pace of infrastructure development and we are therefore pleased to support PIDG’s wider strategy of developing local capital markets to unlock vital infrastructure finance.”
According to him, InfraCredit’s innovative model promotes capital flows from Nigerian institutional investors into local infrastructure developments.
“We are confident that this partnership will leverage the unique skills, experience and expertise offered by InfraCo Africa to support InfraCredit in underpinning projects that will create jobs, reduce poverty and promote economic growth in Nigeria,” Vaes added.
Also commenting, the CEO of InfraCredit, Chinua Azubike said: “We are pleased to welcome InfraCo Africa, a respected and highly experienced infrastructure investor, as an equity investor and stakeholder of InfraCredit, in pursuit of our mission and strategic growth.
The timely completion of this equity issuance further bolsters our balance sheet and reinforces InfraCredit’s strong fundamentals and ability to deliver shareholder value.
We believe this equity investment marks a significant milestone and inflection point for InfraCredit in unlocking more infrastructure investments that will stimulate economic growth and market development.
“With the economic impact of COVID 19, our essentiality in deepening the domestic bond market and mobilising private capital for infrastructure investments has never been more timely and important than it is today, as the Nigerian economy shifts towards recovery.”
Pursuant to the new equity investment, InfraCredit’s total capital base (paid-in and callable capital) will increase to $173million (N 68.3 billion), translating to an aggregate guarantee issuing capacity of up to N342 Billion ($ 865 million) based on its current maximum capital leverage ratio of up to 5x allowable by its rating agencies.
It is believed that given the adverse impact of the COVID-19 pandemic on the Nigerian economy, InfraCo Africa’s investment will engender confidence in InfraCredit’s credit standing, enhancing its ability to continue to increase private sector financing for infrastructure projects in key sectors of the economy.
News
FG to Invest in Cutting-edge Broadcast Technology

Mohammed Idris, the Minister of Information and National Orientation, has reaffirmed the government’s commitment to collaborating with key stakeholders in the global information and broadcasting sector to strengthen Nigeria’s information dissemination framework.
This pledge was made on Monday during discussions with prominent broadcast and information companies at the ongoing National Association of Broadcasters Show 2025 in Las Vegas, United States.
Speaking at the event, Idris said the Bola Tinubu administration remained committed to adopting cutting-edge technologies and acquiring state-of-the-art equipment for Federal Government media organisations to ensure effective service delivery.
“Strategic communication is essential to ensuring that the policies of the Renewed Hope Agenda reach the Nigerian people effectively,” he stated.
The minister also highlighted the government’s plans to invest in upgrading facilities and replacing outdated infrastructure in radio, television, and other media institutions.
According to the minister, this will improve the dissemination of credible, balanced, and objective information to the public.
Idris further said that the government would explore collaborations and partnerships that would allow local broadcasters to benefit from emerging technologies and industry-specific training opportunities.
The minister had visited exhibitions showcasing hardware and software solutions during the event.
Items exhibited included broadcast antennas, transmitters, and studio equipment, which are pivotal for enhancing broadcasting capabilities.
Thomas King, Chairman of KINTRONIC Laboratories and Enrico Vaccari, Chief Operating Officer of Axel Technology SRL, had expressed their organisations’ readiness to partner with the Nigerian government.
Gianluca Baccalini, Chief Operating Officer of System Engineering Solutions and Khiran Keerodhur, Chief Operating Officer of Thomson Broadcast, among others, also expressed commitment to enhancing Nigeria’s broadcasting landscape and regulatory agencies.
Idris is leading a delegation of chief executives of agencies in his ministry to the NAB event.
Members of the delegation included the Managing Director of NAN, Ali Muhammad Ali, and the Director-General of the Nigeria Television Authority, Salihu Dembos.
Others are the Director-General of the National Broadcasting Commission, Charles Ebuebu; and Director-General of the Advertising Regulatory Council of Nigeria, Lekan Fadolapo.
Also in the delegation is the Director-General of Voice of Nigeria, Jibrin Ndace.The forum, NAN reports, is to strengthen broadcast collaborations and form strategic alliances. The NAB event, running from Saturday to Wednesday, has as theme: “The Technology, The Trend, The Future.”
NAN also reports that the forum is focusing on a range of topics, including Artificial Intelligence, cloud visualisation, creator economy, as well as sports production and streaming.
News
How KongaFM 103.7 Helped Cure My Insomnia Challenge

In a glowing testimonial that reveals the rising influence of Konga 103.7FM beyond Lagos, a business merchant from Kano, Mr. Ishaku Mohammed, shared how the station’s late-night programming helped him overcome insomnia and reconnect with hope.
Mr. Mohammed, who was in Lagos to attend a wedding, stumbled on KongaFM by chance, but the impact, he says, was life-changing.
“KongaFM solved my insomnia. It was like a miracle. I tuned in around 9 pm and left the radio on. The inspirational songs and messages gave me peace and helped me sleep properly again, for the first time in a long while,” said Mr. Mohammed.
Having returned to Kano, he now streams the station regularly on kongafm.com, calling it “a sound of hope in changing times.”
The testimonial has been widely shared on social media, drawing attention to the station’s unique blend of entertainment and emotionally resonant content. With increasing listenership on-air and via digital streams across Nigeria and, by extension, the world, Konga 103.7FM is quickly becoming a household name in the country’s evolving media space.
Speaking on the impact, Ifeoma Ajumobi, Head of Konga TV & Radio, noted: “Mr. Mohammed is exactly why we do what we do. At KongaFM, we’re not just filling the airwaves with music or talk, but filling a gap in people’s lives 24hrs daily. Whether it’s easing stress, igniting hope, as a domain of knowledge, or simply keeping people company through the night, our goal is to be the voice that truly resonates.
“We are building a station that listens, heals, inspires, and leads. And as we continue expanding our reach, our mission remains clear: to be Nigeria’s most human radio experience. One voice, one story, one soul at a time.”
KongaFM continues to deliver engaging programming in entertainment, inspiration, commerce, and culture. With a growing footprint in northern and southern Nigeria and a commitment to reflecting the voices of real people, the AI tech-driven station is positioning itself as a trailblazer in 21st-century African radio broadcasting.
News
AOT Issues Bench Warrant against Sanusi, Aero Contractors MD

Advertising Offences Tribunal (AOT) has issued a bench warrant for the arrest of Captain Ado Sanusi, managing director, Aero Contractors Company of Nigeria Limited, for failing to appear before the tribunal in an ongoing case concerning alleged violations of Nigerian advertising laws.
The Advertising Regulatory Council of Nigeria (ARCON) filed a 22-count charge against Captain Sanusi and Aero Contractors, accusing them of exposing advertisements targeted at the Nigerian market without obtaining the necessary approval from the Advertising Standards Panel (ASP). This, according to ARCON, contravenes established Nigerian advertising regulations.
The case was initially scheduled for hearing on February 26, 2025. However, during the proceedings, Captain Sanusi was absent, prompting his legal representatives to assure the tribunal of his presence at the next hearing while also pleading for leniency. Despite these assurances, the defendant failed to appear on the adjourned date.
Given Captain Sanusi’s continued absence, the Advertising Offences Tribunal, in line with its mandate to enforce compliance with advertising regulations, issued a bench warrant for his arrest.
The tribunal has ordered that he be presented at its next sitting, scheduled for May 8, 2025.
- News2 days ago
US Cancels Visas for All South Sudanese Passport Holders
- News2 days ago
AOT Issues Bench Warrant against Sanusi, Aero Contractors MD
- News2 days ago
Meningitis Outbreak Kills 151 in Nigeria – NCDC
- News2 days ago
Afrimash Launches USSD Code to Revolutionize Poultry Farming and Combat Counterfeit Farm Produce
- News2 days ago
SERAP Calls on Tinubu to Reject $1.08Bn Loan, Probe Missing Funds
- General News2 days ago
University Don Seeks Ban of Smartphones, Social Media in Schools
- News2 days ago
Nigeria’s Debt Escalates to N144.67 Trillion, Fueled by Borrowing Surge
- General News2 days ago
Amid Rising Investor Confidence in Nigeria, Woodhall Capital Foundation Trains Captains of Industry