By Francis Nansak

StarTimes, a Chinese electronics and media company, through the support of the World Bank, is embarking on solar power generation, with the company selecting Nasarawa State to benefit from its power model across the country.

Governor Abdullahi Sule disclosed this while presiding over the monthly meeting of the Nasarawa State Executive Council at the Government House on Wednesday.

According to Governor Sule, StarTimes, having realised that power is one of the challenges affecting television broadcasting in Nigeria, decided to diversify into power generation.

The Governor said he learned about this initiative after hosting a delegation from the Chinese firm led by Mr. Pang Xin Xing, Group Chairman world-wide and Joshua Wang CEO StarTimes Nigeria, at the Governor’s Lodge in Abuja.

“StarTimes is now diversifying into power generation after studying television communication in Africa and Nigeria in particular and realising that one of the challenges that we are having in Nigeria is power.

“They have now diversified to power generation especially solar. Based on that, they are working with the World Bank and the bank is supporting them to start mini grids model. Nasarawa State has been selected for that and that explains the reason for the visit by the StarTimes Chairman. The first mini-grids is expected to be launched by May this year,” he stated.

Reviewing the activities of his administration, Governor Sule highlighted before the executive council members activities relating to security, mining, ongoing projects, education and youth empowerment.

On security, he commiserated with the governor and people of Plateau State over the recent security breaches that led to the loss of lives. He announced that a delegation from the Nigeria Governors Forum (NGF) would visit Governor Caleb Mutfwang with a view to commiserate with him.

He commended security agencies operating in Nasarawa State for all their efforts in maintaining peace in identified trouble spots.

“A lot of efforts have been put in place, especially with regards to the return of the Bassa people to their ancestral abode in Katakpa, and other parts of Toto LGA. We sincerely commend the security agencies, jointly and in particular commend the Chairman of Toto LGA, traditional rulers and stakeholders that have equally put in efforts to ensure peace, as well as the return of the Bassa people,” he said.

The Governor also announced that he hosted in his office, AIG Olatunji Rilwan Disu, Assistant Inspector-General, Police Special Protection Unit, Force Headquarters Abuja, who is on an assessment visit on the police public relations school in Lafia, preparatory to establishing a Special Protection Unit (SPU) and anti-terrorism unit.

He equally acknowledged the efforts being put in place by the Operation Whirlstroke that is currently reviewing security situation around especially Nasarawa Eggon and parts of Wamba with a view to addressing the threat posed by kidnappers.

As part of activities marking the second year in office of President Ahmed Bola Tinubu, Governor Sule informed those at the meeting that he personally submitted a letter inviting the President to come and commission projects already completed by his administration.

“We have written a letter to invite President Ahmed Bola Tinubu to come and commission some projects in the state as part of activities marking the two years of the President in office. All the states and the Federal Government in particular are looking forward to commissioning projects in order to celebrate the two years of Mr President in office.

“On our part, we have written to invite the President to come and commission our brand new secretariat, the underpass at the Total Filling Station in Lafia, as well as the completed dualization of the 5km Shendam Road,” he stated.

The Governor also unveiled plans to purchase and distribute additional security vehicles, as well as an ambitious plan to empowwr youths from the state through the distribution of vehicles to be deployed for commercial purposes.

“We are also buying some security vehicles, as well as vehicles for youth empowerment, especially in Lafia, Akwanga and Keffi. These vehicles have already started arriving the state from China. We aim to provide employment for the youths by empowering them with the vehicles. We have given Mr President a timeline given to us by the contractors from the 10th to 15th of May, awaiting presidential confirmation,” he said.

On education, Governor Sule disclosed that his administration is in receipt of money from the Universal Basic Education Commission (UBEC) after Nasarawa State paid its counterpart funding, adding that the funds would be deployed into the construction and rehabilitation of schools across the state.

He said he has already directed the Nasarawa State Universal Basic Education Board, to issue tender for the contracts to be executed.

Regarding mining activities in the state, the Governor announced that the biggest lithium mining and processing factory that would process 6m metric tones per annum owned by a Chinese company, Julian Mining Company in Nasarawa LGA is due for commissioning in May.

“We have another company in Agwada that has already started building another factory there. We are monitoring to see when they will complete that factory,” he said.

In another bold move, Governor Sule announced an audacious plan to cater for the welfare of members of the newly reconstituted boards in the state.

He specifically directed the Secretary to the Government of Nasarawa State, Labaran Shuaibu Magaji, PhD, to device a means that would see to the improvement in the welfare of the reconstituted members of the boards.

“A lot of people are not excited serving on these boards because there are not tangible benefits. The boards meets maybe once in six months or even once in a year. The only thing they get is the sitting allowance. With our improved revenue, we need to review this arrangement in order for the members to have some sense of belonging and be able to participate meaningfully,” he added.

The Governor equally addressed the participants at the meeting over the recent retreat that held in Abuja for political office holders and top government functionaries.

While appreciating the SGNS and his team for organising the retreat, he charged participants to practice what they learned during the retreat, reminding them to further cascade down the training for those who were unable to attend the retreat to benefit.

In line with the policy drive of his administration, Governor Sule used the opportunity of the meeting to announce a minor cabinet reshufflement which saw the Commissioner for Environment and Natural Resources, Barrister Isaac Danladi redeployed to the Ministry of Justice while the State Attorney General and Commissioner for Justice Barrister Hauwa Jugbo moved to the Ministry of Women Affairs and Humanitarian Services.

In the same vein, the hitherto Commissioner for Women Affairs and Humanitarian Services Princess Margaret Elayo is now the Commissioner for Environment and Natural Resources.

President Bola Ahmed Tinubu has approved the appointment of Nasir Naeem Abdulsalam as the new Managing Director of the Ajaokuta Steel Company.
This appointment, effective from April 3, 2025, was announced in a statement by the Office of the Secretary to the Government of the Federation.
Prior to this appointment, Abdulsalam served as the Technical Adviser to the Minister of Steel Development and also held the position of Special Assistant (Academics) to the Director-General of the National Institute for Legislative and Democratic Studies (NILDS).
President Tinubu has charged Abdulsalam with the task of revitalizing the Ajaokuta Steel Company, aiming to stimulate significant industrial and economic activities across Nigeria. The appointment is aligned with the administration’s “Renewed Hope Agenda,” which emphasizes the development of Nigeria as a leading industrial hub in Africa.

President Bola Tinubu has authorized a N20 billion take-off fund for the National Space Research and Development Agency (NASRDA) to commence regulating and licensing space activities in Nigeria. This move aims to address security concerns and prevent the misuse of the nation’s space domain, fulfilling a long-awaited mandate under the NASRDA Act (2010).

NASRDA Director-General, Dr. Matthew Adepoju, announced the development, emphasizing the critical need for this funding. The agency is set to hold a stakeholders’ workshop on space regulation on April 8th.

He spoke against the background of NASRDA stakeholders’ workshop on space regulation scheduled for April 8.
He said on assumption of office he raised a memo to President Bola Tinubu on the need to enforce the regulatory functions of NASDRA.

According to him, this is in line with the provisions of Section 6 and 9 of the laws establishing it, adding that Tinubu eventually approved the take-off fund.

“When I raised that memo stating that our space can no longer be unregulated, Mr President graciously approved the take-off fund of N20 billion few months ago.

“This is to enable us to commence the space regulation and spectrum management in Nigeria.

“Although times and lots of activities happen that have security implications but if we don’t take charge of our space sector, it will continue to be misused,’’ Adepoju said.

Adepoju said the agency was yet to access the N20 billion, adding that release of funds was always subject to its availability.

“Within the framework of what is possible for us to do now, we’ve set up the platform and we are commencing our regulatory and licensing functions,” he told NAN.

Lagos, Nigeria – Fintech firm eTranzact International Plc has announced a robust pre-tax profit of N4.8 billion for the full year ended December 31, 2024, marking a significant 53.20% increase compared to the N3.1 billion reported in the previous year. This impressive profit growth comes despite a decline in the company’s overall revenue.
The company’s financial report, released over the weekend, reveals that revenue for the year fell to N29.8 billion from N33.9 billion in 2023. This dip was primarily attributed to a decrease in mobile airtime sales.
However, eTranzact demonstrated strong performance in its core operations, with profits from this segment rising to N4.6 billion, up from N3.1 billion in the previous fiscal year. This suggests improved efficiency and profitability in key areas of the business.
The company also reported a significant increase in its earnings per share (EPS), which grew by 54.17% from N0.24 to N0.37. This improvement reflects the enhanced profitability attributed to each share of the company’s stock.
A notable highlight in the financial results is the substantial recovery in eTranzact’s retained earnings, which improved to N2.8 billion. This is a significant turnaround from a negative balance of N496.6 million in the preceding year, indicating a strengthening of the company’s financial position.
In a move that will likely please investors, eTranzact’s board has declared a final dividend of 12.5 kobo for every 50 kobo share held. This dividend is subject to applicable withholding tax and regulations and will be paid to shareholders whose names are on the company’s register by the close of business on July 7, 2025.
Key Financial Highlights (2024 vs. 2023):

• Revenue: N29.8 billion (-11.82% year-on-year)
• Gross Profit: N11.3 billion (+36.52% year-on-year)
• Operating Profit: N4.6 billion (+48.83% year-on-year)
• Pre-Tax Profit: N4.8 billion (+53.20% year-on-year)
• Earnings per Share: N0.37 (+54.17% year-on-year)
• Retained Earnings: N2.8 billion (Significant improvement from negative balance)
• Total Assets: N24 billion (-14.91% year-on-year)
  While revenue experienced a decline, eTranzact’s ability to significantly boost profitability through its core operations and improve its retained earnings will likely be viewed positively by investors. The announcement of a final dividend further underscores the company’s commitment to shareholder returns.