Business
Nigerian govt agencies to unlock $25bn revenue through electricity, digital development
Two Nigerian government agencies, the Galaxy Backbone and the Rural Electrification Agency, have signed a partnership to provide electricity and digital connectivity to schools, hospitals, and other public institutions across the country.
This comes as the federal government agencies said the initiative is expected to help unlock $25 billion in revenue annually associated with the lack of electricity and other infrastructural development in Nigeria.
This was made known during a Memorandum of Understanding signing event in Abuja on Friday.
Speaking on the partnership, the Managing Director of GBB, Prof. Ibrahim Adeyanyu, said it would ensure effectiveness in government services to Nigerians.
He explained that the collaboration will ensure that hospitals, universities, security outfits, and government institutions have access to electricity and digital connectivity.
“We are going to target public institutions to make them more efficient and reduce the cost of governance.
“Already, we are looking at starting with a number of federal institutions within Abuja, including the National Hospital and some security outfit institutions within Abuja, and we would like to work this infrastructure deployment to get out of Galaxy Backbone, Abuja.
“Imagine providing access to the internet and electricity to the lowest micro-level of the sub-national, the local government level. Imagine how we would transform local government administration. And this is very much also in line with Mr. President, where the roles and responsibilities of local government have been brought back to make them more effective and to make sure that governance has gone down to the community level,” he stated.
On his part, the Managing Director of REA, Abba Abubakar Aliyu, said the MoU is an effort by President Bola Ahmed to drive inclusive development in Nigeria.
He emphasised that the initiative would unlock $25 billion annually associated with lack of electricity and infrastructural development in the country.
According to him, the partnership will ensure that no community is left behind in Tinubu’s government’s renewed hope agenda and the realisation of its $1 trillion economy target.
“For us, today (Friday), we are showing and demonstrating how two different government agencies can collaborate towards the development of this country. Today, we are showing we are planting the seed to unlock a $25 billion economy. The cost of lack of electricity and associated development initiatives within the country is costing the country $25 billion annually.
“Today, we are looking at contributing to the objective of Mr. President towards the realisation of the $1 trillion economy. Today, we are planting the seed for the development of small, medium, and micro enterprises across the country. Today, we are enhancing the governance of this country by making public institutions more efficient, operating with less cost, and also having all the necessary digital requirements for them to carry out their own functions.
“The nexus between electricity, financial inclusion, and the digital economy cannot be overemphasised. We have seen it over and over in the study that wherever there is no electricity, there is no financial inclusion, and there is no digital value that has been created within those communities. Nigeria has the highest number of people without electricity, which by extension means that the country has the highest number of people that are financially excluded, and they are not reaping the benefit of the digital economy,” he stated.
Business
Boris Johnson Says He Feels “Perfectly Safe” in Nigeria, Praises Imo State’s Progress
Former British Prime Minister Boris Johnson has expressed confidence in Nigeria’s security, saying he feels perfectly safe during his visit to the country. His remarks come amid ongoing reports of insecurity in various parts of Nigeria, making his statement a notable endorsement of the nation’s stability in certain regions.
Johnson made the declaration on Thursday, December 4, 2025, while addressing participants at the Imo State Economic Summit 2025 in Owerri, the state capital. He acknowledged having read travel advisories and news reports highlighting security concerns prior to his trip but said his experience has been reassuring.
He said he feels perfectly safe in the country and emphasized that the summit environment and local hospitality contributed to his sense of security. He also asked the audience if they felt safe, receiving an enthusiastic affirmation.
During his visit, Johnson commended Governor Hope Uzodimma and the Imo State Government for their development initiatives, particularly efforts to provide 24-hour electricity. He highlighted the potential of Nigeria as a hub for innovation and economic growth, noting the opportunities presented by emerging technologies such as artificial intelligence.
While his statements have been welcomed by some as a boost to international confidence in Nigeria, analysts caution that the former prime minister’s experience reflects only a controlled and secure environment within Imo State. Several parts of the country continue to face challenges, including banditry, communal conflicts, and kidnappings.
Nonetheless, Johnson’s visit and remarks are significant, sending a positive message to investors and global observers about Nigeria’s potential for stability and progress. They also underscore the contrast between localized experiences of safety and broader security challenges across the country.
Business
Dangote to Uzodimma: Just show me where to invest
By Emmanuel Iheaka, OWERRI
The President of Dangote Group, Aliko Dangote has assured Governor Hope Uzodimma of Imo State that his group will be one of the biggest investors in the state.
Dangote gave the assurance at the opening session of the Imo Economic Summit 2025 in Owerri on Thursday.
The renowned Africa’s industrialist urged Uzodimma to indicate his preferred area of investment and forget the rest.
Dangote described the Imo governor as a personal friend of decades and commended him for providing enabling environment for investment.
“We will be one of your biggest investors in Imo. So, please tell me the area to invest and we will invest”, Dangote declared.
He called on entrepreneurs to always invest at home, adding that foreigners cannot drive the economy of any nation more than the nationals.
“What attracts foreign investors is a domestic investor. Africa has about 30 percent of the world’s minerals. We are blessed,” he submitted.
Dangote reiterated that his refinery was set to launch 1.4 million barrels per day capacity, the highest for any single refinery in the world.
Business
Fabergé egg given as Easter gift to mother of Russia’s last emperor sells for record £22.9m
A diamond-encrusted Fabergé egg that Russia‘s last emperor gave to his mother as an Easter gift has sold for nearly £23million.
Tsar Nicholas II gifted the Winter Egg to Dowager Empress Maria Feodorovna in 1913, five years before he was murdered along with his wife and children after the Russian Revolution.

Tsar Nicholas II

Dowager Empress Maria Feodorovna
The egg went under the hammer at Londonauction house Christie’s yesterday.
An unnamed buyer stumped up £22,895,000, smashing the previous global record of £8.9million that was set in 2007 when the famous Rothschild Egg was sold.
Carved from delicate rock crystal, the Winter Egg is an icy-looking orb studded with around 4,500 rose-cut diamonds, and stands at only five-and-a-half inches (14 centimetres) tall.
Carl Fabergé, the master jeweller whose creations bedazzled Russia, created 50 Imperial Easter Eggs for the then-ruling Romanov family over a 31-year period, making them incredibly rare and valuable.
They were commissioned as Easter gifts in a tradition started by Tsar Alexander III in the 1880s.
Nicholas II, Alexander’s son, had an annual standing order for two Easter eggs to be made for his mother and his wife, until the fall of the Romanovs in the 1917 Russian Revolution.

A diamond-encrusted Fabergé egg that Russia ‘s last emperor gave to his mother as an Easter gift has sold for nearly £23million
Today, only 43 of the Imperial Easter Eggs remain, with seven missing.
The ‘exquisite’ Winter Egg had a pre-sale estimate of more than £20million.
Christie’s Margo Oganesian said: ‘Today’s result sets a new world auction record for a work by Faberge, reaffirming the enduring significance of this masterpiece.’
She added the sale celebrated ‘the rarity and brilliance of what is widely regarded as one of Faberge’s finest creations, both technically and artistically’.
The imperial eggs have enjoyed renewed interest on the art market in recent decades, mainly among wealthy Russians keen to acquire a piece of their country’s history.
Beyond its opulence, it is the ‘technique and craftsmanship’ that makes the Winter Egg exceptional, according to Ms Oganesian.
‘The Winter Egg is truly one of the rarest items that you can find,’ she explained. ‘It’s really hard to comprehend how Faberge created it.’
The egg and its base are sculpted from crystal featuring diamond-encrusted platinum snowflakes.

Carved from delicate rock crystal, the Winter Egg is an icy-looking orb studded with around 4,500 rose-cut diamonds, and stands at only five-and-a-half inches (14 centimetres) tall. Inside, it contains a bouquet of flowers made of white quartz anemones held by gold wire stems, gathered in a platinum basket

The egg and its base are sculpted from crystal featuring diamond-encrusted platinum snowflakes

Tsar Nicholas and his wife, Empress Alexandra, with their five children. They were all murdered in 1918
Inside, it contains a bouquet of flowers made of white quartz anemones held by gold wire stems, gathered in a platinum basket.
Like many other Romanov possessions, the egg bears witness to Russian history. It was transferred from Saint Petersburg to Moscow in 1920 after the revolution.
As with many other Imperial Eggs, it was sold by the Soviet government to generate foreign currency and was acquired by London jeweller Wartski between 1929 and 1933, according to Christie’s.
The Winter Egg was subsequently part of several British collections but was considered lost from 1975, the auction house said in an essay attached to the sale lot online.
‘For 20 years, experts and specialists lost sight of it until 1994, when it was rediscovered and brought to Christie’s for sale in Geneva,’ said Ms Oganesian.
Eight years later, in 2002, it was sold again for a record $9.6 million in New York.
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