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…urge investors to closely track government spending 

…alleged a senior FCDA official demanded bribe to approve project

By Gloria Ikibah

The Chairman of Dar Global Financials, Kunle Ilori-Diamond, on Wednesday unveiled a $25 million acquisition fund targeted at Nigeria’s microfinance banking and real estate sectors, while urging investors to closely track government spending under the 2026 Appropriation Act to identify emerging opportunities.

Speaking at a world press conference in Abuja, Ilori-Diamond argued that the most successful investors are often distinguished not by privileged access but by their ability to interpret public information before others.

Drawing parallels with recent moves by major business figures, he noted that investment decisions often signal future economic trends.

He said: “The difference between people who actually go ahead in business and investment, and people who don’t, is the kind of information that they pay attention to.

“If someone takes a lot of fortune to invest in a power-generating company ahead of a certain year, and that happened in the last quarter of 2025, it means there’s something going to happen in 2026 that we don’t know about, that he does know about.”

N3.48 Trillion Roads Budget Holds Investment Clues
Ilori-Diamond pointed to the Federal Government’s allocation of N3.48 trillion for road construction, describing it as one of the clearest indicators of where future wealth creation could occur.

He explained that infrastructure projects frequently transform land values and commercial prospects.

According to him, major opportunities exist along strategic corridors earmarked for federal investment, including the Calabar-Maiduguri Road Corridor, the Maiduguri-Sokoto Corridor, and several presidential legacy projects.

“If N3.48 trillion is being allocated to road construction in Nigeria, all you need to know is where those roads are going to be.

“Government is simply telling you where it wants to spend its money. That is where you can gamble yours as well, because government is playing big in that aspect.

“The budgetary emphasis is locked into concluding critical multi-regional mega highways. Anything that is a presidential legacy project happening around a certain place is a good place to invest in”, he noted.

Abuja Expansion Set to Create New Property Hotspots
The investment banker also highlighted Abuja’s growing real estate potential, citing what he described as a substantial allocation towards urban road infrastructure.

He specifically identified locations around the airport corridor and expanding satellite towns as areas likely to benefit from government-backed growth.

“Anywhere that is a corridor in Abuja is going to blow up because there is N1.6 trillion allocated to just roads.

“If I had a lot of money, I would be investing massively in Kuje, in airport corridors like Kyami, in Lugbe and along the frontier between Abuja and Kaduna”, he emphasised

Agriculture Remains a Goldmine
Turning to agriculture, Ilori-Diamond said investors should align their business decisions with sectors receiving substantial government support.

He noted that the Ministry of Livestock Development had received an allocation of N81.8 billion, while the Federal Ministry of Agriculture and Food Security was backed by a capital budget of N1.3 trillion.

He therefore urged Nigerians to study government priorities before committing capital.

“The kind of business that can thrive is the one that the government is already doing, because the government doesn’t want to fail.

“If the Ministry of Livestock is trying to stabilise livestock feeds, then all you need to do is find money and start producing livestock feeds because it is in alignment with the budget”, he stated.

The Dar Global Financials chairman also identified Niger State as a key destination for agribusiness investments.

“If government allocates N420 billion to Niger State and wants to succeed, they will create roads, power and security around that investment. If you want to start a food processing firm, that is where you should be looking”, he added.

Launches of $25m Acquisition Drive
At the centre of the conference was the formal launch of Dar Global Financials’ $25 million acquisition fund, which will focus on purchasing struggling microfinance banks and real estate development firms across Nigeria.

According to him, the strategy will involve restructuring and scaling acquired businesses rather than dismantling them, adding that founders who wished to retain a stake in their businesses would be accommodated.

“A couple of investors and investment bankers came together and put a capital of $25 million into a pool to invest in Nigeria.

“We are trying to acquire microfinance banks and real estate development firms that already have established brands across Nigeria.

“If there is any microfinance bank that is not really doing well and they are looking at liquidating or selling it off, we are looking at buying it from them.

“If you don’t want to sell entirely, we can structure it so that you still retain up to 15 per cent of the company while we take over operations,” Ilori-Diamond announced.

Mortgage Revolution Planned
Ilori-Diamond further disclosed that Dar Global intends to integrate acquired microfinance banks with its real estate investments to expand access to housing finance.

He argued that existing mortgage systems remain inaccessible to many Nigerians, particularly workers in the private sector.

“What we want to do in the market now is disrupt it.”
“Everybody can get access to a mortgage. We finance the house, you move into your house, and then you pay over a period of years.

“A simple civil servant cannot even afford to get a house comfortably under the current structure”, he asserted.

Calls for Stronger Public-Private Partnership
Responding to questions from journalists, Ilori-Diamond called on government to strengthen collaboration with private investors.

“One of the reasons this press conference is happening is for government to see the need to partner with the private sector.

“Partnership with the private sector is not only about funding or resources; it is also about connections, approvals and getting things done on time”, he said

On insecurity, he advised investors to focus on locations where government has committed significant resources.

“If government is spending in a particular place, they will want to make that place safe because their own money is there. Just follow their money and you might be lucky”, he noted.

Corruption Allegation Against Development Official
In one of the most dramatic moments of the conference, Ilori-Diamond alleged that a senior development control official demanded a bribe in exchange for approving a project.

The businessman said such practices discourage investment and undermine economic development.

“There is a certain development control official who said if I don’t pay him N100 million, he would not approve it.

“I stayed abroad for many years. I decided to come back because I believe in Nigeria and I am putting my money in Nigeria. We have people in offices who are frustrating that kind of investment,” he alleged.

He called on authorities to investigate allegations of corruption within development control agencies and ensure swift action where wrongdoing is established.

“If we don’t stop such people, they will do it to everybody. People who are struggling to put up a business will feel Nigeria is not a good place to invest”, he added.

‘Performance Must Matter’
Ilori-Diamond also urged the Federal Government to hold public officials accountable for budget implementation.

“If two times in a row you cannot prove something tangible that you’ve done, you should be relieved”, he said.

He praised the use of ministerial scorecards and called for stricter performance assessments across government agencies.
Dar Global Financials officially opened applications from microfinance banks and real estate firms seeking acquisition, partnership or restructuring under the newly launched investment fund.

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● _Company engages Board of Trustees, traditional rulers in Akwa-Ibom on Ibom Field operations on PPL 236_

L-R: Head, Human Resources Unit, Emadeb Energy, Mrs Uduak Ugbodaga, Managing Director, Emadeb E&P, Dr Segun Ogunsanya, Chief Executive Officer, Emadeb Energy Group, Mr Debo Olujimi, Paramount Ruler of Eastern Obolo Local Government, HRM, Chief Harry John Etetor, Chairman, Board of Trustees of Emadeb-Eastern Obolo-Ibeno Host Communities Development Trust, Mr Dominic Ekpe, and Legal Adviser, Emadeb Energy Group, Mr Jerry Achonwa during the Emadeb management team’s visit to Akwa-Ibom, Monday

Uyo, Akwa Ibom State | 23 June 2026 – Emadeb Exploration and Production Limited, a subsidiary of Emadeb Energy Group, has reaffirmed its commitment to fulfilling all obligations to the Emadeb-Eastern Obolo-Ibeno Host Communities Development Trust in line with the Petroleum Industry Act, 2021, as it advances stakeholder engagement on its Ibom Field operations on PPL 236.

The assurance was given on Monday in Uyo by the Chief Executive Officer of Emadeb Energy Group, Mr Debo Olujimi, and the Managing Director of Emadeb E&P, Dr Segun Ogunsanya, during an inaugural engagement with members of the Board of Trustees of the Host Communities Development Trust.

The seven-member Board of Trustees, chaired by Mr Dominic Ekpe, was inaugurated in April 2026 pursuant to the provisions of the Petroleum Industry Act. The meeting marked Emadeb E&P’s first formal engagement with the Trust since its establishment.

Speaking during the session, Mr Olujimi said Emadeb E&P would conduct its operations responsibly and in the best interest of the host communities of Eastern Obolo and Ibeno, Akwa Ibom State, and the Federal Republic of Nigeria.

He pledged that the company would engage the Trust with integrity, transparency and an open mind, and sought the Board’s cooperation in strengthening the Trust’s administrative structures as the company finalises the requirements of its operational licence.

“We know that what we have come to do in Eastern Obolo and Ibeno communities is for the betterment of these communities, Akwa Ibom State and Nigeria,” Mr Olujimi said. “I want you to rest assured that Emadeb E&P will do the needful. Deep offshore exploration is a highly technical and capital-intensive endeavour, and by God’s grace we have successfully completed that phase. It is now time to work together in line with the plans we had already emplaced. We are all fully on board.”

Fourth from left: CEO of Emadeb Energy Group, Mr Debo Olujimi, in a group photograph with his management team and members of the Board of Trustees of Emadeb-Eastern Obolo-Ibeno Host Communities Development Trust at the end of their engagement in Uyo, Monday

The Chairman of the Board of Trustees, Mr Dominic Ekpe, expressed appreciation to the Chief Executive Officer of Emadeb Energy Group for prioritising the engagement. He requested the company’s support for the Trust’s operational take-off, including the provision of administrative infrastructure and requisite funding.

As part of the stakeholder engagement, the Emadeb E&P delegation also paid separate courtesy visits to His Royal Majesty, Chief Harry John Etetor, Paramount Ruler of Eastern Obolo Local Government Area, and His Royal Majesty, Owong Amb. Prof. Effiong Bassey Archianga, Akwaha Owong Ibeno, Paramount Ruler of Ibeno Local Government Area.

Mr Olujimi assured both traditional institutions that Emadeb E&P would remain responsive to its corporate social responsibility commitments and would discharge every obligation stipulated under the Petroleum Industry Act for host communities. The monarchs commended the delegation for the visit and offered prayers for the success and safety of the company’s operations in their domains.

■ About Emadeb Exploration and Production Limited

Emadeb Exploration and Production Limited is the upstream subsidiary of Emadeb Energy Group, focused on the exploration and development of oil and gas assets in Nigeria. The company holds interests in PPL 236, a shallow-water marginal field located about 30 kilometres offshore in a water depth of roughly 20 metres, and is committed to responsible operations, environmental stewardship, and value creation for host communities and stakeholders.

■ For media inquiries
Emadeb Energy Group
+234 803 189 3290

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Justice Muhammad Bello of a High Court sitting in Sokoto State has sentenced three men, including a foreign national, to death by hanging, following their conviction on charges bordering on terrorrism and arms proliferation.

The convicts identified as Yusuf Muhammad (alias Sallau), a Nigerien; Jabbi Alhaji Yalle; and Kabiru Muhammad, were apprehended on June 13th, 2025, by the Department of State Services (DSS) Counter Terrorism Unit in connection with cross-border criminal activities bordering on arms trafficking and terrorrism.

Delivering judgment in the case marked SS/45c/2026, Justice Bello found all three defendants guilty as charged and sentenced them to death by hanging. The court also ordered the forfeiture of all monetary exhibits recovered from the convicts to the Federal Government.

“The conviction is the latest in a series of successful prosecutions by the DSS in its sustained operations against terrorism and organised cross-border criminal networks across Nigeria,” Justice Bello said