
News
Enugu govt not paying N100bn to revive United Palm Products Ltd – Media Adviser
Enugu State government has explained that it is not committing N100 billion into its partnership with a private firm to revive the moribund United Palm Products Ltd (UPPL).
In providing more facts on the deal, the state government empahasised that it “is not releasing N100 billion or any dime to Pragmatic Palms Ltd”, adding that instead, Pragmatic Palms Ltd, a special purpose vehicle (SPV) for the partnership, will finance the revitalisation of UPPL.
In a statement issued by the senior special adviser to the governor on external relations, Mr. Uche Anichukwu, the state government said Pragmatic Palm Ltd would provide finance for 60 percent of the transaction value while the Peter Mbah administration would provide the plantations valued at 40 percent equity.
Anichukwu said UPPL is one of the numerous initiatives of the late premier of the defunct Eastern Region, Dr. Michael Okpara, and had been moribund for decades.

Palm Plantation

He said UPPL was expectedly one of the many moribund assets penciled down for revitalisation by Governor Peter Mbah in line with his campaign promise to convert the state’s dormant assets to productive assets and grow the state’s economy exponentially from the current $4.4 billion to $30 billion through private sector investments.
Anichukwu further clarified that this culminated in the N100 billion deal between the state government and Pragmatic Palms Ltd., a subsidiary of Diamond Stripes Ltd. on Thursday, May 9, 2024 after months-long negotiation and due diligence that started way back in 2023.
He sad, “Because several parties/investors are involved, it became imperative, as is the best international practice, to register a Special Purpose Vehicle (SPV) as the platform to transact the deal. Pragmatic Palms Ltd. was duly incorporated before the signing of the agreement.
“For the avoidance of doubt, however, although it is not the case in this instance, it is apposite to also note that the Companies and Allied Matters Act (CAMA), 2020, provides for Pre-incorporation Contract.
“Section 96 (1) of CAMA, 2020, provides: “Any contract or other transaction purporting to be entered into by the company or by person on behalf of the company prior to its formation may be ratified by the company after its formation and thereupon the company shall become bound by and entitled to the benefit thereof as if it has been in existence at the date of such contract or other transaction and had been a party thereto.
“As demanded by the Enugu State government, Pragmatic Palms Ltd provided a guarantor, which is Diamond Stripes Ltd, a reputable and huge company that has done investments worth over $20 billion spanning power and renewable energy sector, port sector, and agricultural sector since 2013. Diamond Stripes Ltd is the sole investor in Onitsha River Port and has invested heavily in the agricultural sector where it is the largest owner of silo complexes in Nigeria. It was involved in the acquisition of 600mw Shiroro Hydroelectric Power plant in 2013, concessions of 30mw Gurara Hydroelectric Power Plant in 2019, and establishment of 300mwShiroro solar power project in 2021.
“The state’s interest in the N100 billion UPPL deal is well secured, benefitting from Governor Peter Mbah’s experience as an investment finance expert and an entrepreneur, who has handled multi-billion-dollar projects himself. Besides asking for and getting a corporate guarantor on the part of Pragmatic Palms Ltd, the government also demanded for and got bank guarantors from Pragmatic Palms. Importantly, performance targets and timelines were equally set in the Agreement for Pragmatic Palms Ltd. failing which the Enugu State Government is free to revoke the deal and reassume total ownership of United Palm Products Ltd.
“In addition, the Enugu State Government is represented on the company’s board, including the Chairmanship of the Board, as part of the steps taken to secure the state’s interest,” he said.
Anichukwu also disclosed that the MD of Pragmatic Palms Ltd, is also the MD/CEO of Diamond Stripes, George Nwangwu, and a professor of project financing law, who has led transaction teams that have participated in the consummation of over 100 privatisation or Public Private Partnership (PPP) transactions worth over $20 billion across Africa.
“Prof. Nwangwu was the head of infrastructure finance at the Ministry of Finance under the leadership of Dr. Ngozi Okonjo-Iweala, during which he led the team that delivered the Second Niger Bridge deal.“Clearly, it is a new dawn for the United Palm Products Ltd. to the benefit of the people of Enugu State after decades of rot and neglect. The partnership is promising and the project in good hands,” he said.
News
Enugu Church Kidnap: Seminarian, other victims rescued, three kidnappers arrested, one killed
…Ransoms, 4 AK-47 rifles and ammunition recovered
…Gov Mbah: You can’t get away with your crimes in Enugu
Security forces in Enugu State have successfully apprehended three perpetrators of the August 2, 2026 kidnap attack on St. Joseph’s Catholic Church, Inoyi-Affa, Udi LGA, Enugu State, and also recovered ransoms during the operations.
This was even as one of the kidnap suspects was neutralised in a gun duel during the joint operation of the Department of State Services (DSS), the Army, Police, Enugu State Forest Guard, and others, which also saw to the recovery of four AK-47 rifles, seven magazines and 133 rounds of ammunition from the hideouts of the kidnapping syndicate.
Fielding questions from newsmen during the parade of the criminals at the state headquarters of the DSS in Enugu Monday evening, Governor Peter Mbah, who was represented by the Secretary to the State Government, Prof. Chidiebere Onyia, added that the remaining two of the three victims of the August 2 attack, Seminarian Lawrence Igbo and Mr. Emmanuel Onwudi, had also regained their freedom.

Ransom recovered from the kidnappers
Mbah also revealed that ransom deployed as a strategy was fully recovered, noting that security agents tracked down the criminals by deploying the state’s hi-tech security assets.

He hailed the DSS, Army, Police, Forest Guards and other security agencies in the state, adding that the victims had equally identified the apprehended criminals as their abductors.
The governor assured the people that his administration would continue to prioritise and invest in the security of their lives and properties.

A member of the kidnap gang neutralized
“There was one fatality in this process. It was one of the criminals that died in the process of apprehending them. Usually, criminal elements will not want to be apprehended easily without a fight, but our people were ready, and we have one fatality, while the others are here now as you could see; and they will face the full wrath of the law.
“We made it very clear that if criminality becomes your venture, Enugu State is not the location to do that business; that we will pursue you, we will make sure we bring you to justice, and that was why we put the robust security architecture across the state, working in collaboration with the security forces to ensure that Enugu is uncomfortable for anybody that plans criminality, and you’re seeing that very clearly.

“We are intentional in investing in and organising our security architecture to prevent crime. But if there is a breach, you can run, but cannot hide for long. We must get you. You can’t commit these crimes in Enugu State and get away with it. No way,” he said.
He also warned locals who collude with the criminal elements or serve as their informants, vowing to come after them also.
“We will find you also, just as we have found these people, and we will prosecute you as part of this evil operation and this evil syndicate.
“Wherever you are, know that investigation is ongoing and that this government will track you down, and you will pay for your crimes in planning havoc on our citizens. So wherever you are, we are still coming for you,” he stressed.
He paid special tributes to the security forces for their cooperation and gallantry.
“We also want to very highly commend all the security agencies: the DSS, Nigerian Army, the Nigerian Police, the Enugu State Forest Guard, the military services, others for being very instrumental in some of the work that was done, and continue to do in Enugu State,” he concluded.
News
Widespread Traffic Violations: Enugu CP orders strict enforcement of traffic laws, arrest and prosecution of offenders
The Commissioner of Police, Enugu State Command, CP Mamman Bitrus Giwa, has directed the immediate enforcement of all existing traffic laws and regulations across the State following what he described as the rampant disregard for traffic regulations by motorists.
The CP said the development has resulted in avoidable gridlock, disruption of traffic flow, road crashes, loss of lives and destruction of property.
The directive, according to the state police spokesman, SP Daniel Ndukwe, ‘is in line with the Inspector-General of Police, IGP Olatunji Rilwan Disu, psc (+), NPM, directive on the nationwide enforcement of traffic laws to restore order on Nigerian roads and safeguard lives and property.
“Accordingly, the Commissioner of Police has tasked the Deputy Commissioner of Police in charge of Operations, the Command’s Legal Officer and the State Traffic Officer to ensure the professional enforcement of the directive through the arrest and prosecution of offenders in accordance with extant laws and regulations.”
He, however, cautioned officers against any infringement on the rights and dignity of citizens while carrying out the enforcement.

CP Giwa urges all motorists, including police officers and other security personnel, to familiarise themselves with and strictly obey traffic laws to avoid arrest and prosecution.
He emphasized hat strict compliance with traffic regulations remained essential to reducing congestion, preventing road crashes, and ensuring the free flow of traffic across the State.
News
Gunmen attack three buses on Kogi highway, abduct passengers
Suspected kidnappers have abducted an unspecified number of passengers travelling in three commercial buses along the Itobe-Achigili-Anyigba highway in Ofu Local Government Area of Kogi State.
The incidents, according to local sources, occurred in two separate attacks within a two-hour interval on Sunday at locations believed to be close to each other along the highway.
The first attack reportedly occurred at about 4 pm between Ojuwo-Ajengo and Mamerebo settlements, when a Hummer bus belonging to a popular mass transit company, said to be travelling to Abuja from the eastern part of the country, was intercepted by the gunmen.
The second incident took place around 6 pm between Ojodu and Ojuwo-Olijo village, where a Sharon bus and a Sienna commercial vehicle, both reportedly on inter-state journeys, were attacked.
Sources said the gunmen barricaded the highway, forcing the vehicles to stop before ordering the occupants into the surrounding bush.

A local source said two mobile phones were recovered from the grass around one of the vehicles and subsequently handed over to security operatives.
The source said the first bus, identified as a Hummer belonging to Peace Mass Transit with fleet number 2838, was intercepted around 4 pm.
The two other vehicles, identified as a Sharon and a Sienna with registration numbers Kogi ERE 138 AE and BB 362 MKA, respectively, were reportedly ambushed around 6 pm.
“The armed men left with all the occupants of the three buses. The exact number of people abducted from each vehicle is not yet known and may only be established through the passengers’ manifests,” another source said.
Following the attacks, a joint security operation involving personnel of the Nigerian Army, police, local vigilantes and hunters was reportedly deployed to the area to search for the victims and track down the perpetrators.
When contacted for confirmation, the spokesperson for the Kogi State Police Command, ASP Saliu Oyiza Afusat, said she would confirm the incident and respond. ( Nigerian Tribune)
-
News20 hours agoJezco Oil founder, Joseph Ezeokafor reportedly kidnapped in Anambra
-
News2 days agoLaw School Student dies in suspected suicide at Lagos Hostel
-
News1 day agoAnambra demolishes over 200 illegal structures in Ozubulu, Nnewi
-
News1 day ago42 soldiers perish in fatal bus crash
-
Uncategorized1 day agoItaly-based Businessman arrested at Enugu Airport excretes 98 Cocaine wraps
-
News2 days agoIhuezeofia’s attacks on Enuogu-Nkerefi leaders, commissioner act of mischief – Stakeholders
-
News2 days agoPolice arrest five Pakistanis in Benue, recover 35 phones
-
News1 day agoTinubu’s re-election: Uzodinma, Umahi don’t speak for Ndigbo — Igbo Community in FC




