A young entrepreneur, Magaji Emmanuel, founder of MJ Farms, has emerged winner of the maiden edition of the SOLAP Enterprise Hub, Youth Entrepreneurship Program 2025, clinching a N1.5 million business investment grant at the grand finale held Friday at Ordlin Event Center, Jos.
Emmanuel outperformed nine other finalists in a competitive live pitch session, following a six-week intensive training programme that began with hundreds of applicants drawn from Abuja, Benue, Nasarawa, Plateau and Kaduna States.
The SOLAP Enterprise Hub, Youth Entrepreneurship Program 2025, an initiative of SOLAP Group, is designed to nurture young entrepreneurs into wealth creators, job providers and drivers of community development. From over 100 applications received, 50 entrepreneurs were shortlisted and trained, with only 10 advancing to the final pitch stage.
Presenting his business model, Emmanuel, a Quantity Surveying student of Kaduna State University, showcased his integrated poultry farm which not only produces poultry birds but also converts poultry waste into organic hybrid fertilizer. His innovation, aimed at addressing rising fertilizer costs, earned him the top prize.
Speaking after his victory, Emmanuel expressed gratitude to God and dedicated the achievement to his late father, whose initial vision inspired the business. He noted that the grant would help scale production and expand access to affordable fertilizer for farmers.
Group Managing Director of SOLAP Group, Arc. Akosu Paul
Earlier, the Group Managing Director of SOLAP Group, Arc. Akosu Paul, said the initiative forms part of the company’s corporate social responsibility to support young entrepreneurs with viable ideas through training, mentorship and grants.
He explained that the programme aims to raise 100 millionaires within the next 10 years, stressing the importance of investing in youth who possess the energy, vision and fewer distractions needed to grow sustainable businesses.
The event also featured a panel discussion on “Thriving in Uncertainty: Building Resilience and Entrepreneurship,” with experts including Chief Samuel Adetunji, Mrs Theresa Gofwen and Mrs Mary Oyewole, who shared insights on navigating business challenges.
In a show of support, Chief Adetunji donated an additional N100,000 each to the top three winners, as well as to the best female contestant and another participant who pitched a fish farming business.
Speaking at the event, Mr Val Okafor of the Val Okafor Company, implementing partner of the initiative, described the programme as a structured intervention aimed at bridging the gap between ideas and sustainable enterprises.
According to him, participants underwent practical training in business development, market research, branding and revenue strategies, equipping them with the skills needed to build viable businesses.
Other winners at the event included Ani Nnaemeka Kingsley of NovelArts, who emerged first runner-up with a N1 million grant for his innovative use of waste materials in interior décor and art production.
Mom Terkaa Titus of Jumo Farms secured the second runner-up position, winning N500,000 for his Agri-Rentals concept, a farm mechanization hub for smallholder farmers.
The top female contestant, Egba Agnes of AG’s Creations, also received an additional N500,000 grant to support her fashion design business and training academy for aspiring designers.
Organisers described the maiden edition as a success, noting that the initiative will continue to expand opportunities for young entrepreneurs across Nigeria.
Energy company Aradel Holdings saw its net profit for 2025 increase by 192.3 per cent, compared to what it reported a year earlier, according to its latest audited report, taking its profit after tax to the peak level ever.
The remarkable improvement rested on the ₦393.2 billion translation gain it earned from the business combination it executed last year after acquiring a majority stake in ND Western, an oil drilling firm in which it previously held a non-controlling interest.
Towards the end of 2025, Aradel procured a 40 per cent stake in ND Western in a transaction that took its shareholding in the entity to 81.7 per cent.
The deal involving ND Western, being one of the companies under Renaissance Energy Holdings, raised Aradel’s stake in the latter from 33.3 per cent to 53.3 per cent, making it its majority owner.
Revenue for the period under review grew by 20.4 per cent to ₦699.4 billion, driven by crude oil exports and the sale of refined products.
Operating profit, which was up by 151.7 per cent, derived strength from the ₦217.1 billion earned as a bargain purchase from acquiring the additional stake in ND Western at a cheaper amount than its fair market value.
Share of profit from associate company stood at ₦109.5 billion, compared to ₦31.6 billion a year ago.
However, the company incurred ₦106.3 billion in fair value loss on step acquisition as a result of legacy expenses in respect of the write-down of a carrying amount from the ND Western asset acquisition.
Profit before taxation climbed by 163.6 per cent, while profit after tax jumped to ₦757.3 billion from ₦259.1 billion.
“Our focus in 2026 is on consolidating our expanded portfolio to enhance operational scale, improve efficiency across our assets, increase production and further diversify our revenue base anchored on our long-term ambition to grow the Group’s production to support sustainable, long-term shareholder value,” Adegbite Falade, the CEO, said.
“Reflecting the strength of our performance and confidence in our outlook, the board is pleased to propose a final dividend of ₦23.0 (US$0.016) per share, taking the total 2025 distribution to ₦33.0 (US$0.024),” he added.
The ₦33 total dividend per share is 10 per cent higher than that of 2024 and is equivalent to a potential payout of ₦143.4 billion.
BY NKECHI NAECHE-ESEZOBOR—The new management of African Alliance Insurance Plc has promised sound solvency management and absolute transparency as the company officially returns to full business operations following a major regulatory restructuring.
Speaking recently in Lagos, the newly appointed Managing Director and Chief Executive Officer, Mr. Ayobami Olakunle Ogunkeye, stressed that the pioneer indigenous life underwriting firm has pledged to uphold the highest standards of accountability and customer-centric service.
According to Ogunkeye, a seasoned turnaround expert, the company’s revival strategy is built directly upon these promises to ensure long-term viability and safeguard the interests of all policyholders.
The company’s renewed assurances follow a decisive regulatory intervention by the National Insurance Commission (NAICOM), which began in October 2024.
Prompted by severe liquidity pressures, operational disruptions, and a substantial backlog of unpaid claims, NAICOM had appointed an Interim Management Board to stabilize the 66-year-old institution.
During the intervention, the interim board successfully cleared over 75 percent of the company’s accumulated legacy liabilities.
Critical capital was unlocked through the competitive sale of a 49 percent stake in PAL Pensions, while trapped dividend funds were secured to clear up to 15 months of annuity arrears.
Additionally, the team transparently transferred the firm’s admitted annuity portfolio to an underwriting institution to secure uninterrupted payments for beneficiaries, upgraded internal ICT infrastructure, and completed vital forensic and actuarial reviews.
With these corrective milestones achieved, NAICOM Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, formally certified the company fit to resume full operations and officially handed control over to a newly constituted board and management team.
Although independent operations have resumed, African Alliance will remain under active regulatory oversight to monitor its ongoing recapitalization progress and solvency compliance closely.
The newly formed leadership structure is headed by Board Chairman Rear Admiral Anthony Odogba Isa. Joining him on the board are Andrew Ubochi as Executive Director, Technical, alongside non-executive directors Chief Boniface Chinedu Moore (SAN), High Chief Olabode Akeem Mustapha, Ataraire Gideon, and Harrison Ogalagu.
Addressing the firm’s diverse stakeholders, Ogunkeye stated that the lessons learned during the recent period of hardship have deeply reinforced the company’s resolve to develop appropriate corporate governance structure
He assured existing policyholders that their trust would be honoured without compromise, while inviting prospective clients to approach the revitalized insurer with full confidence in its financial positioning and operational capacity.