Opinion
OF ABUJA INVESTMENT COMPANY, TAMUNO, WIKE, AND TINUBU’S “RENEWED HOPE” AGENDA

BY BOLAJI AFOLABI
Established in 1994 by the military administration of late General Sani Abacha, the Abuja Investments Company Limited, (AICL) is positioned as a government-owned investment enterprise charged with the responsibility to drive economic development in the federal capital territory. Its primary goal is to promote strategic investment and boost realistic economic growth of the FCT through different platforms and various approaches. Key functions of the AICL include Business Development; Investment and Development; Public-Private Partnership; Facility Management; and Infrastructure Development. The AICL has several subsidiaries and associates including Abuja Property Development Company, (APDC); Abuja Markets Management Limited, (AMML); Abuja Urban Mass Transport Company, (AUMTCO); Abuja Technology Village Free Zone; Abuja Film Village International Limited; PowerNoth/AICL Equipment Leasing Company. Others include Aso Savings and Loans PLC; Abuja Power Company Limited; Abuja Leasing Company; and Abuja Downtown Mall.
From 1994 till the exit of the military from national governance in 1999, the AICL recorded few achievements. During this period, the AUMTCO, and Aso Savings and Loans were established. With the dawn of democratic government in 1999, it was expected that the FCT, being an emerging federal capital will benefit hugely from the activities of the AICL. However, nothing much was achieved between 1999 and 2003. Somehow, Mallam Nasir El-Rufai, who administered the FCT from July 2003 to July 2007, was able to change the tide. Under his watch, the AICL came alive, recorded some measure of visibility and attracted positive public perception. Sadly, the AICL took a downward slide thereafter. None of the past ministers; Aliyu Modibbo Umar, Adamu Aliero, Bala Mohammed, and Muhammed Musa Bello provided the necessary political will and support for the AICL to maximally attain full potential. Indeed, it got worse between 2015 and May 2023 that many residents forgot that the company was still existing.
Many critical stakeholders were worried about the depth of neglect, static state, and institutional damage that the AICL was subjected to. Patterned after similar agencies in some developing nations, where measurable strides are achieved, the reverse happened with the AICL, that it became recurring causes of worries, and regrets to many people. Alhaji Aminu Mohammed, a former staff member of FCTA said, “it was shameful that the company remained largely dormant for many years.” Corroborating, Mr. Gilbert Gyang, an Abuja based investment expert declared, “the AICL, especially during the last administration was arguably comatose. It merely existed on paper, there was no visible investment initiative geared towards economic growth in the federal capital.” For Ms. Winifred Anosike, former banker, and development consultant, “it’s painful that the company was practically inactive for years. It was not only affecting economic growth in Abuja but impacted negatively on people and firms with result-driven initiatives who desired to contribute actively to the development of the capital city.”
With the emergence and subsequent inauguration of President Bola Tinubu on May 29, 2023, key players in the investment sector were hopeful that, the AICL may breathe again. Many hinged their thoughts on Tinubu’s background and experiences in accounting, financing, investment, governance, and leadership. Though with caveats; the choice of who minister’s FCT will be pivotal. Convinced that the AICL should be the “engine room” of economic growth and development of the capital city, many hoped that Tinubu will deploy the appropriate person to oversee the strategic ministry. Some stakeholders concluded that a wrong choice may consign the AICL into the “wilderness of inactivity” and likely extinction. Somehow, key players in the investment sector, at different fora and platforms were upbeat that Tinubu will pick the right person, who they hope will lead the way towards enabling the AICL to get back its mojo.
In August 2023, the deployment of Barrister Nyesom Ezenwo Wike as the Minister of the FCT; the 8th since Nigeria’s return to democratic government elicited public endorsement. Tinubu’s choice was largely celebrated by many stakeholders, as it renewed optimism about the prospects of AICL reviving its activities. Cognisant of Wike’s legendary achievements, as Rivers state Governor where he embarked on massive infrastructure development and more, turning the “Treasure Base” to the central investment hub in the South South zone, and emerging as second to Lagos state, many were confident that “light will come” to the AICL. A similar spate of enthusiasm and expectations was prevalent in and around the AICL. Many of the staff members also shared the positions.
The atmosphere at the Garki District offices of AICL on April 7, 2024 was ecstatic when news filtered in that Wike had appointed Dr. Maureen Tamuno as the Group Managing Director. A few hours later, it turned to frenzy after goggle checks were done by some staff members to have glimpses of her profile. Impressed, and satisfied with her multi-disciplinary academic background, and multi-faceted careers, her appointment was described as well-thought, and well-deserving. The unanimity of opinion was that, being a round peg in a round hole, the AICL will leverage on her far-reaching experiences and exposures as a former lawmaker, seasoned diplomat, public administrator, and boardroom strategist.
Aware and ready for the challenges ahead, many staff members were visibly excited when Tamuno assumed office the following day. Thus emerging as the first female chief executive of the AICL, since its 30 years of existence. Described as an accomplished technocrat with identifiable achievements in leadership, strategy, diplomacy, administration, and consulting, Tamuno, in her maiden speech confirmed the postulations of staff members. She emphasized her, “commitment to open-door policy to all staff, urging everyone to operate at the highest standard of transparency, confidentiality, accountability, and ethical business practices.” Continuing, she assured staff members that her, “strategic approach and consumer-centric philosophy are expected to propel the AICL to new heights of success.”
From reports, challenged by the enormity of the task ahead, conscious of the hugely untapped potential of the AICL, buoyed by the political support of Wike, and encouraged by the passion of the staff members, Tamuno literally hit the ground running. As a globally-recognized business development, management, and investment professional, she approached her assignment with iron-cast resolve, and the precision of a surgeon. First off, she embarked on critical reviews and overview of the AICL trajectory from inception; identified germane issues; evolved strategies for re-positioning the company; enunciated quick-wins, short-term, medium-term, and long-term measures for development, and some others. All these were geared towards delivering (or surpassing) the Ministerial mandate, and also ensuring that the AICL contributes its quota to Tinubu’s “Renewed Hope” agenda.
Indeed, it is imperative to note that the AICL, under the superintendent of Tamuno has literally drawn water out of rocks; which before now was largely unthinkable. That the soft-spoken and resourceful amazon; and her team were able to make noticeable impact within just one year, speaks volumes about her ingenuity, and indomitable spirit. In a broad sense, these achievements include encouraging economic diversification; expanding investment opportunities; exploring business and investment exchanges; deepening subsidiaries collaboration; and fostering diplomatic relationships.
In practical terms, the AICL, through some landmark initiatives has provided the platform for the promotion of trade and commerce, as well as economic growth and sustainable investment in the FCT. It is imperative to recall some of these laudable and trail-blazing projects. A few days back, the solar powered Farmers Market in Utako District and Kugbo International Market were commissioned by the FCT Minister of State, Dr. Mariya Mahmud. Speaking at the epoch making events, Mahmud eulogized Tamuno for completing the first-of-its-kind projects which, “would provide employment opportunities for a wide range of people in line with the “Renewed Hope” agenda.” While explaining that the projects are under the Public Private Partnership initiative of the AICL, Tamuno promised that, “under the Build Operate and Transfer (BOT) arrangement, the government will combine with the private sector to create profitable and sustainable public infrastructure. We identified Small and Medium Enterprises, (SMEs) as the backbone of any prosperous economy, because they create jobs that drive sustainable economic growth.” To underscore AICL’s commitment towards encouraging the informal sector, shops were gifted to some hardworking traders from all the six Area Councils of the FCT.
In October 2024, the AICL organized a two-day Abuja Business and Investment Summit with the theme: “Optimizing Investments Through Partnership.” The event, geared towards promoting investment opportunities in the FCT, was attended by major stakeholders in finance, investment, manufacturing, and other sectors. Participants opened new alliances, partnerships, and collaborations for new opportunities and innovations that will lead to micro and macro development. Tamuno, who by the way was one-time Nigeria’s Ambassador to Jamaica is leveraging on her diplomatic credentials and network to re-position the AICL. She is regularly engaging, and exploring investment opportunities with foreign countries through their diplomats in Nigeria. Through her participation at the maiden Nigeria-Kazakhstan Business Conference which was held in Abuja, in 2024, there are advanced plans for the establishment of city-to-city flights between both countries, as well as collaborations in agriculture, education, technology, logistics, and more.
Agreed, the journey is somewhat far but the AICL, under the new chief executive has shown unbridled commitment, and unflinching fervor in elevating the status, and relevance of the company towards engendering meaningful growth and development of the FCT. Tamuno has shown relentless drive and boundless energies towards justifying the confidence reposed in her by Wike. Posting an encouraging report-card in one year deserves commendations and encouragement. Mr. Olugbenga Okanlawon, an Abuja based public affairs analyst declared that, “she has shown that she is the right person for the job. Considering what the AICL has achieved in one year, it is clear that more grounds will be covered in terms of growth and development.” A frequent caller to the AICL who preferred anonymity said, “the GMD has brought a new lease of life to the place, and everybody has imbibed her can-do-it spirit with much pride, and belief.”
* BOLAJI AFOLABI, a Development Communications specialist was with the Office of Public Affairs, The Presidency, Abuja.
Opinion
5G,IoT and AI to boost global GDP by 2030

By Sonny Aragba-Akpore
With Mobile technologies and services now generating around 5.8% of global Gross Domestic Product (GDP) a contribution that amounts to about $6.5 trillion of economic value, there are strong projections that by 2030, this figure will rise to almost $11 trillion, or 8.4% of GDP.
Global System of Mobile Communications Association (GSMA) says much of this will be driven by countries around the world increasingly benefiting from the improvements in productivity and efficiency brought about by the increased take-up of mobile services and digital technologies, including 5G, Internet of Things (IoT) and Artificial Intelligence (AI).
The GSMA recently introduced the 5G Connectivity Index to provide insights into 5G performance in 39 markets in order to encourage informed decision-making.
In terms of Economic Impact,
the GSMA emphasizes the economic benefits of mobile technologies and services, including 5G, projecting that they will contribute significantly to GDP growth by 2030.
“The GSMA provides specific reports and analyses on 5G in different regions, such as Sub-Saharan Africa, Asia ,Middle East among others highlighting the progress and challenges of 5G deployment in specific areas.”
In Sub Saharan Africa for instance with particular attention on Nigeria,South Africa,Egypt,Kenya and Botswana among others some measure of progress in deployment has been recorded.
The rollout of 5G has brought immense benefits across multiple industry sectors, particularly those involving internet of things (IoT) and artificial intelligence (AI) applications in which the real-time transfer of data is crucial.
More broadly, the adoption of 5G is expected to accompany increased data use across the globe, with forecasts anticipating mobile data traffic of over 300 exabytes per month by 2030, more than twice the volume consumed in 2024 according to Statista.
And with a third of global population expected to be covered by this fifth generation (5G) networks ,a technology that has defined new ways of communication by 2025 ,GSMA
says the technology has surpassed growth projections of all times.
“5G subscriptions increased by 163 million during the third quarter 2024 to total 2.1 billion. 5G subscriptions reached close to 2.3 billion by the end of 2024 accounting for more than 25 percent of all global mobile subscriptions.
“4G subscriptions continue to decline as subscribers migrate to 5G” according to GSMA.
As of the first quarter of 2024, there were nearly two billion 5G connections worldwide, with 185 million new additions. This is expected to grow to 7.7 billion by 2028.”
Statistics show that 5G is the fastest-growing mobile broadband technology, reaching 1.5 billion connections by the end of 2023.
It only took four years to reach this number, compared to 10 years for 3G and more than five years for 4G.
“5G is more than a new generation of technologies; it denotes a new era in which connectivity will become increasingly fluid and flexible.5G Networks will adapt to applications and performance will be tailored precisely to the needs of the user” GSMA submits.
By covering one-third of the world’s population , impact on the mobile industry and its customers will be profound according to GSMA.
To deepen the spread of 5G ,GSMA is working closely with the mobile operators pioneering 5G, “by engaging with governments, vertical industries including automotive, financial services, healthcare providers, transport operators, utilities and other industry sectors to develop business cases for 5G.”
And In order to accelerate the growth and spread, many operators are said to be deploying
AI technology as part of an integral part of telecoms operators’ strategic and operational plans.
“Operators are making important advancements in the deployment of AI technology, which is serving as a transformative force shaping the telecoms industry. By deploying autonomous AI-based systems, operators can enhance operational efficiency, customer satisfaction and security, while also creating new revenue opportunities”.
China, South Korea, the United Kingdom, Germany, and the United States are the leading countries with robust 5G coverage in the world.
Since the first commercial launches of the fifth generation of mobile networks in late 2018, these five countries have emerged as leaders because multiple companies in these countries have deployed networks and are selling compatible devices. Countries including Switzerland and Finland are up and comers in 5G development, though they have limited deployment.
In China there are three Companies leading in deployment.
The world’s largest 5G network was launched by the three largest Chinese network operators Oct 31, 2019, according to the state-run news agency Xinhua. These are China Mobile, China Unicom, and China Telecom which all activated their networks in less than five months after they were issued 5G licenses.
Each of the network operators offered their 5G services at $18 per month in 50 Chinese cities at the beginning of the launch.
GSMA expects 36% of China’s mobile users to be using 5G by 2025. That’s about 600 million subscribers, who would also make up 40% of the entire global 5G market by this year.
This is all despite efforts made by the United States government to hamper the progress of Chinese vendors, though those efforts may affect how Chinese companies may expand into the global market.
In South Korea,SK Telecom and Korea Telecom run as the main competitors for the South Korean 5G market.
SK Telecom acquired spectrum in the 3.5 GHz and 28 GHz frequencies to prepare for deploying 5G.
In April of 2019, the Enterprise claimed to be the first mobile carrier in the world to launch 5G services to work on 5G smartphones. SK Telecom asserted an edge over rival Verizon, as the former launched 5G services available at the same time as Samsung Galaxy S10 5G smartphone launched in South Korea. Verizon launched mobile 5G services in the U.S. before a 5G enabled smartphone was available to U.S. consumers.
SK Telecom also conducted tests with a 5G Standalone (SA) Core (a core not reliant on the 4G network) for their 5G network in cooperation with Samsung Electronics.
The world’s largest 5G network was launched by the three largest Chinese network operators Oct 31, 2019, according to the state-run news agency Xinhua. These are China Mobile, China Unicom, and China Telecom which all activated their networks in less than five months after they were issued 5G licenses. Each of the network operators offered their 5G services at $18 per month in 50 Chinese cities at the beginning of the launch.
“What we are seeing is a concerted effort by the Chinese — the operators, vendors, and government regulators — to deploy 5G as quickly as possible,” Chris Nicoll, principal analyst at ACG Research, pointed this out in a November 1, 2019 SDxCentral article.
With all of these players working together, the three network operators had collectively deployed nearly 86,000 5G base stations peaked over 130,000 by the end of 2019. The latter number breaks down into China Unicom and China telecom, with each planning to install 40,000 base stations, and the market leader China Mobile to install 50,000.This was the projection by 2019 but they have since overshot this by the beginning of 2024.
The International Telecommunication Union (ITU), says 5G coverage reached 40% of the world’s population in 2023 with an uneven coverage and distribution with developed countries having more coverage than low-income countries:
In Europe ,68% of the population is covered and
Americas had 59% of the population covered while
Asia-Pacific has 42% of the population covered as at 2023.
Arab States have 12% of the population covered.
Commonwealth Independent of States (CIS) had 8% of the population covered.
ITU figures show Africa,s coverage rose to 10 % of the population by 2023 .
The ITU also notes that 90% of the world’s population is covered by 4G, but 55% of people without access to 4G live in low-income countries because In low-income countries, 3G is often the only technology available to connect to the Internet.
The ITU develops and adopts international regulations and global standards to enable the harmonization and implementation of broadband mobile networks.
In Africa, around a dozen nations have launched services including Botswana, Kenya, Mauritius, Madagascar, Nigeria, Seychelles, South Africa, Tanzania, Togo, Zimbabwe, and Zambia but Africa is a patchwork of 54 countries.
And penetration is predicted to be slow.
By 2027, Ericsson predicts that 80 percent of phone users in Europe will have 5G service.
At the same time, 5G subscriptions in Africa, home to 1.4 billion people, May stagnate at a little over 10 percent. Why will so few people in Africa get access to 5G services?
China, South Korea, the United Kingdom, Germany, and the United States remain the leading countries with robust 5G coverage in the world.
While many countries are already providing robust services,Africa remains on the outskirts of 5G services.
The countries in Africa that have launched 5G networks, include South Africa with its roll out
In March 2022, when the Independent Communications Authority of South Africa (ICASA) sold spectrum across several bands.
In Nigeria,MTN rolled out commercial 5G services in Lagos in 2022, with other roll out in Abuja, Port Harcourt, Ibadan, Kano, Owerri, and Maiduguri among others.
MTN Congo announced that it was the first country in Central Africa to deploy 5G.
In Botswana Orange deployed 5G technology to provide new services in the Gaborone and Francistown regions.
Other countries in Africa that have launched 5G Fixed Wireless Access (FWA) services include: Angola, Kenya, Zambia, and Zimbabwe.
Analysts say “5G’s potential is growing due to its ability to deliver fiber-like speeds. However, there are still challenges in the region, such as:
Urban areas are reaching their maximum capacity whereas a large portion of the population lives in rural areas.
This explains why 5G adoption in the sub-Saharan region is currently below six percent “
Analysts report that 5G deployment in Africa faces many challenges, including Spectrum assignment,regulatory issues,infrastructure,security,financial resources among others.
“Spectrum is a limited resource that is already in use by other services, such as TV broadcasters and satellite operators. Governments need to open up frequencies and grant 5G licenses at reasonable prices. “
Infrastructure is another major challenge.
“5G networks require a large initial investment, including expensive devices, antennas, and Radio Access Network (RAN) hardware. The infrastructure needs to be fiberized to support 5G services.
Regulatory conditions also serve as challenges to deployment.
For instance “regulatory authorities may not have started the process for licensing and granting frequencies in the right portion “
“Most of the equipment and devices required for 5G deployment need to be imported.”
There are also security challenges that make
5G technology vulnerable to cyber security threats, such as tracking calls and exposing user locations.
Opinion
Right of Reply: THE PUNCH AND BUSYBODY BUSINESS

The recent declaration of a State of Emergency in Rivers State has triggered diverse commentaries from a wide range of Nigerians.
Almost everyone hailed the presidential proclamation because of the visible threat to law and order in the state at the time the action was taken. Of course, there were a few naysayers who read political meanings into an otherwise sincere and prompt intervention.
One such negative interpretation is the position taken by the Editorial Board of The Punch newspaper. In one of its editorials published on the matter, the national daily claimed that the entire crisis was caused by what it described as “the needless meddlesomeness in the governance of the state by its former governor and Tinubu’s Federal Capital Territory Minister, Nyesom Wike….” It is unfortunate that this narrative and others like it have become commonplace in the media space.
How did the Editorial Board of a reputable newspaper arrive at such a conclusion? Their claim that the Sole Administrator, Admiral Ibok Ete Ibas (rtd), has been acting a script purportedly written by the Minister of the Federal Capital Territory, Nyesom Wike, is also faulty and has no iota of truth.
They also faulted the sacking of all political appointees who served in Governor Siminalayi Fubara’s administration, insinuating that their replacements were drawn from Wike’s political camp. Again, nothing can be further from the truth.
Since his appointment as the Sole Administrator of Rivers State, Admiral Ibok Ete Ibas has been running the state with the abundant human resources available in the state and has not imported anybody from outside the state. Did the Editors of The Punch really expect him to run the administration with the politicians loyal to the suspended governor?
Do they not know that the crop of political appointees who served Fubara would have found it difficult to work with the Sole Administrator?
Certainly, they know the truth, but they have chosen to stoke the fire to generate more tensions in Rivers State.
Certain interests might have commissioned this editorial to cast aspersions on the Sole Administrator and raise doubts about his capacity to run the state.
It may also have been the handiwork of Wike’s political detractors, the man whom many politicians love to hate for no other reason than envy and jealousy.
We urge the Punch newspapers to seek a better mode of intervention in the political situation and not dwell on innuendos and unsubstantiated allegations against certain political actors in order to blackmail them.
Dr Ike Odogwu
Opinion
“Chief. Dr. Ekuogbe Akpodiete; A Philanthropist, Lawyer, and Statesman”

In a life of achievement, Chief Ekuogbe Akpodiete popularly called the Duke by his contemporaries in the UK was an assessment clerk, post office clerk, a court interpreter, an educationist, a business man, a political party chieftain, a Barrister and Solicitor, a Magistrate, the Otota (the Prime Minister) of Ughelli kingdom which is the highest traditional chieftaincy office that underpin the royal office of the Ovie of Ughelli Kingdom.
He was a trail blazer, a strict disciplinarian, a lover of people, and a philantropist. He saw to it that people lived in peace and happiness.
Born on the 4th of April, 1924, to parents cut from an industrious mould, Chief Ekuogbe Rowland Gregory Akpodiete took zealously to education that neither his mother Ughweriaka who was a trader, nor his father Akpodiete who was a farmer had.
He attended the Native Authority Primary School, Ughelli, and Enitona High School, Port Harcourt, for his secondary school education.
He thereafter had a brief teaching career in primary schools in Ofuoma near Ughelli, he worked as a process clerk in the then Sapele Township Department between 1950 and 1953, serving at the same time as an interpreter in the local courts.
He proceeded to the United Kingdom to seek the proverbial Golden Fleece where he worked and paid his way through, studying Law. He was admitted into the Honourable society of Gray’s Inn, England, in 1965, and shortly after, he returned home to Nigeria and attended the Nigerian Law School. He was called to the Nigerian Bar in 1966. He immediately started practice in Lagos. However, his practice in Lagos was regrettably abridged by the Nigerian Civil War, which drove him to his hometown Ughelli in 1967, where he continued to practise among his kith and kin as the first Legal Practitioner.
Chief Ekuogbe Akpodiete established himself in Ughelli. After the civil war, he served in the now defunct Mid-western State Judiciary from 1972 to 1975 as a Magistrate.
He was conferred with the chieftaincy title of Urhukperovie of Ughelli kingdom (the light of the King) by the then reigning Ovie of Ughelli, His Royal Highness Oharisi II of blessed memory in 1977.
In the quest for more knowledge, he went back to England for his Master’s degree in law (LL.M) and later a Ph.D. at the University of Warwick.
He was awarded an honourary doctorate degree (Ph.D) by Tenesse Christian University from the United States of America in 1991.
He became the Otota (the Prime Minister) of Ughelli Kingdom in 1986, an office he occupied until his demise on 9th April 1995.
Chief Ekuogbe Akpodiete was also politically involved. In the heady days of the Awolowo-led Unity Party of Nigeria, he was the party’s legal adviser in Ughelli and was on hand to assist during Chief Obafemi Awolowo’s campaign hosting in Ughelli and its environs.
In view of his love for people and entertainment, he established a popular cinema house, one of the first in Ughelli, known as REGA cinema, coined from his names, alongside an entertainment place called Unutakunu (people talk to people).
Chief Ekuogbe Akpodiete was blessed with wives and many children, grandchildren, and great grand children.
Mr. Olotu Akpodiete, PhD
Executive Director
Olotu & Ekuogbe Rowland Akpodiete foundation
-
News14 hours ago
BREAKING: Unknown gunmen reportedly storm Senator Natasha’s family residence
-
News16 hours ago
Snub story on removal of Rivers Sole Administrator, it’s FAKE-Chief Registrar
-
News22 hours ago
“How my father escaped assassination” – Bishop Oyedepo’s daughter
-
News22 hours ago
FG expresses sympathy for CBEX victims, urges a united effort to combat Ponzi schemes
-
News15 hours ago
SAD! Again, Alleged Herdsmen Attack Three Benue Communities
-
Politics15 hours ago
PDP govs are jokers, can’t stop coalition train, Atiku boasts
-
News8 hours ago
Abuja light rail project must be commissioned on May 29-Wike vows
-
News13 hours ago
Lawmaker Slams NBA Over Rivers Crisis, Demands Return of N300m