
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
Police confirm NYSC members among abducted passengers on Owerri-Onitsha Road, rescue 10
The Imo state police command says members of the National Youth Service Corps (NYSC) were among those abducted along the Owerri-Onitsha expressway on Thursday morning.
Okoye Henry, police spokesperson in Imo, said in a statement that 10 of the victims had been rescued.
He said the exact number of persons abducted was still being verified and would be made public once confirmed.
Reports said that there was tension on the road in the early hours of Thursday after gunmen attacked two 18-seater buses carrying passengers and took them into the bush.
According to a viral video circulated on X, the victims were travelling to Akwa Ibom and Abia states in buses branded with the Abia state government logo when the attackers intercepted the vehicles and robbed the passengers.

Okoye said the incident occurred around 6:30am, adding that NYSC members were among those abducted.
“The incident occurred at about 0630hrs on 1st October, 2026, along the Owerri-Onitsha Road, by Umunoha. Two buses conveying NYSC corps members and other passengers from Ibadan to Uyo, Akwa Ibom State, and Bende, Abia State, respectively, were attacked by suspected armed men,” the statement reads.
“Following a swift response by the Police and other security agencies, both buses have been recovered and 10 victims were rescued at the scene.
“The rescued victims are in safe hands and are being attended to. The exact number of persons abducted is being verified and will be made public once confirmed.”
The police spokesperson said operatives were still conducting coordinated search and rescue operations, backed by intelligence to track the suspects and rescue the remaining victims.
He said the commissioner of police in Imo, alongside other service commanders, have visited the scene for an on-the-spot assessment and to give operational direction.
“He assured the public that the Command will sustain the operation until all victims are safely recovered and the suspects are brought to justice,” Okoye said.
He said the command was working with the NYSC directorate to reach the families of the affected corps members, who would be kept informed as the situation developed.
He added that the affected section of the expressway had been reopened and traffic was flowing, while security personnel remained deployed to protect commuters.
The command appealed for calm and urged the public to remain vigilant, adding that anyone with credible information should report to the nearest police station or contact the command’s emergency lines.
“All information will be treated in confidence,” Okoye added.
News
NYSC members, other travellers ‘abducted’ along Owerri-Onitsha Expressway
An unspecified number of travellers, including National Youth Service Corps members, have reportedly been abducted by armed men along the Owerri-Onitsha Expressway in Imo State on Thursday, October 1.
The incident reportedly occurred around 5:30am when at least two commercial buses were attacked, with passengers allegedly robbed and taken into the bush. The exact number of people affected remains unclear.
According to reports and videos circulating online, some of the passengers were corps members who had departed from Samonda, Ibadan, in buses operated by Uko Akwa Ibom Motors.
The corps members were reportedly travelling to their assigned orientation camps in states across the South-East and South-South, including Akwa Ibom, Enugu, Imo and Abia.
An eyewitness, in a video shared online, said the attackers intercepted buses travelling from Lagos towards Anambra State and took passengers into the bush after dispossessing them of their belongings.

“Good morning, my fellow Nigerians. I am reporting from the Owerri-Onitsha Road. This happened this morning,” the eyewitness said.
He added that security personnel had arrived at the scene, while soldiers reportedly entered the bush in an attempt to locate and rescue the victims.
“The police came this morning, and the army has already entered the bush to see if they can rescue the victims,” he said.
Footage from the scene showed two buses abandoned by the roadside, with one bearing the inscription “Uko Akwa Ibom Motors Nig. Ltd” and the number Uko/133.
The reported attack has heightened concerns among families whose relatives were travelling to NYSC orientation camps in different parts of the South-East and South-South.
In a separate video shared by Agidigbo FM Ibadan, a distressed woman appealed for assistance, saying her daughter was among the corps members whose whereabouts had become unknown.
According to the woman, her daughter left the Samonda park in Ibadan on Wednesday alongside other corps members travelling to the eastern part of the country.
She said the family received a message from her daughter in their WhatsApp group shortly after 6am on Thursday. The message reportedly contained the word “kidnapper”, after which her daughter’s phone became unreachable.
Describing the family’s distress, the woman said: “Since past 6am, I have not been able to hear from my child, and we couldn’t get her exact location anymore. Please, federal government, help us. I only have the two of them.”
She identified the missing corps member as Kehinde and said her twin sister, Taiwo, had already arrived in Enugu for her orientation camp.
Other relatives reportedly visited the park where their loved ones had boarded buses in Ibadan as they sought information about the missing travellers.
However, the identities and number of people allegedly abducted, as well as their current whereabouts, remained unclear at the time of reporting.
The Imo State Police Command had yet to issue an official statement confirming the incident. Its spokesperson, Henry Okoye, had also not responded to requests for comment at the time of the reports.
News
Independence: Gov Mbah pardons, commutes sentences of 13 inmates
In commemoration of Nigeria’s 66th independence anniversary, Governor Peter Mbah of Enugu State has approved the pardon, release, and commutation of sentences of 13 inmates of the Nigerian Correctional Centres, Enugu State.
This is in the exercise of his power of Prerogative of Mercy under Section 212 of the 1999 Constitution (as amended) and in consultation with the Advisory Council on Prerogative of Mercy, Enugu State.
According to a statement released by the Mbah’s media aide, Uche Anichukwu, on Independence Day, the Governor’s approval was conveyed to the Comptroller, Nigerian Correctional Service, Enugu State Command by the Chief of Staff to the Attorney General and Commissioner for Justice, Barr. Osinachi Nnajieze.
The beneficiary inmates are Kenneth Ozioko, Moses Saliyat, Promise Ndudim Olung, Chijioke Ugwu, Samuel Ani, and Eugene Odo.
Others are Celsus Emeachi, Caleb Jatto, Calistus Eze, Gabriel Onu, Timothy Ani, Ernest Okeke, and Ejike Nwodo.

While some of the inmates were pardoned and released, some had their death sentence commuted to life imprisonment.
Mbah’s decision was predicated on reports of ill health and or proven reform in character, and following recommendation by the Correctional Services to the Advisory Council on Prerogative of Mercy, chaired by the State Attorney-General and Commissioner for Justice.
Membership of the Council equally comprises representatives of the Nigerian Correctional Service, Carmelite Prisoners Interest Organisation (CAPIO), and the Catholic Institute for Development, Justice and Peace (CIDJAP), among other reputable bodies in the justice sector.
Section 212 (1) of the 1999 Constitution (as amended) provides that: “The Governor may (a) Grant any person concerned with or convicted of any offence created by any law of a state a pardon, either free or subject to lawful conditions; (b) grant to any person a respite, of the execution of any punishment imposed on that person for such an offence; (c) substitute a less severe form of punishment for any person for such an offence; or (d) remit the whole or any part of punishment for any punishment imposed on that person for such any offence or of any penalty forfeiture otherwise due to the state on account of such an offence.”
Section 212 (2), however, provides that the powers of the governor under subsection (1) shall be exercised after consultation with an advisory council of the state on the prerogative of mercy as may be established by law of the state.
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