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Ernest Shonekan Dead – 10 Fast Facts About The Late Former National Leader

Ernest Shonekan dead

Chief Ernest Shonekan who served as the interim leader of the Nigerian government has passed away.

Shonekan who was 85 years old died on the 11th of January 2022 in a hospital in the Lekki area of Lagos State.

His death was confirmed to the media by the government of Ogun State where the late elder statesman hails.

Fast Facts About Ernest Shonekan

  1. Ernest Shonekan was appointed as the interim leader of the Nigerian Government by General Ibrahim Babangida in 1993. The appointment came after severe pressure on Babangida to relinquish power after he rejected the results of the June 12, 1993 election which MKO Abiola had won.
  2. Shonekan’s reign was short-lived lasting for merely three months (August 26, 1993 – November 17, 1993) as he was ousted by a palace coup led by General Sani Abacha.
  3. Shonekan was on the 2nd of January 1993 appointed to serve as the head of the transitional council that was set up by General Babangida as the final phase of power handover to a democratic government.
  4. Before being called to serve as an interim national leader, Ernest Shonekan was serving as the Chairman and managing director of United Africa Company of Nigeria (UAC).
  5. He had joined UAC in 1964 and rose through the ranks of the company to become an assistant legal adviser and later deputy adviser and a member of its board of directors when he was 40 years old.
  6. Ernest Shonekan was a lawyer who earned his law degree from the University of London before proceeding to attend the illustrious Harvard Business School. He was also educated at CMS Grammer School and Igbobi College.
  7. Shonekan was born on the 9th of May 1936 in Lagos State into a family of 8 including his parents. His father was a civil servant from Abeokuta, Ogun State.
  8. After being ousted by Abacha, Ernest Shonekan founded the advocacy and think-tank, Nigerian Economic Summit Group in 1994. The group was incorporated as a non-profit in 1996. NESG is a non-partisan and apolitical organization that aims to promote sustainable growth and the development of the Nigerian economy.
  9. Shonekan was married to Margaret Shonekan and they had four children including Korede Shonekan, Adeboye Shonekan, Kemi Shonekan, and Yele Shonekan.
  10. Ernest Shonekan was the third oldest surviving head of state after Queen Elizabeth II and General Yakubu Gowon.

Read Also: Olowu of Owu Kingdom, Oba Dosunmu Has Passed On

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Entertainment

Kunle Remi Blasts Government on economic hardship, asks Nigerians to hold government accountable

Nollywood actor Kunle Remi has joined growing public frustration over the rising cost of petrol, using his platform to call for more open conversations about the country’s current economic strain

The actor pushed back against the idea that public figures should stay silent on political or economic issues. “Usually I say things like I don’t really get involved with politics… No, that’s the most stupid statement from anyone in Nigeria right now,” he said. “We should be discussing, we should be talking about it, we should be trying to fix… There’s nothing like sitting on the fence.”

Remi linked his concerns to the direct impact of fuel prices on everyday life, pointing to the ripple effect across businesses and households. “Today I bought petrol for 1,300-something naira,” he said, noting that everything from shopping malls to small barber shops depends heavily on petrol to operate. “I have a child, so I’m thinking not just for myself.”

He also questioned Nigeria’s sensitivity to global oil market shifts, particularly ongoing tensions in the Middle East. “I don’t understand why Nigeria is one of the first countries to be affected by the war in Iran. My spirit is very angry. All the things I’ve been working for is for what?” he said.

His comments come amid sustained pressure on petrol prices across Nigeria. Despite the start of domestic refining operations, including the Dangote Refinery, pump prices have continued to reflect global market volatility. Industry stakeholders have pointed to international crude oil price movements and geopolitical tensions as key factors limiting any immediate relief.

Recent market data shows that a nearly 20 per cent increase in petrol prices implemented last week remains in place, with a national average of about N1,300 per litre. A decline in crude oil prices earlier in the week has yet to translate into lower pump prices, raising further concerns among consumers.

Online, Remi’s remarks have drawn widespread support, with many users commending him for speaking out on an issue that directly affects daily living. Some described his comments as reflective of broader public sentiment, especially as more Nigerians grapple with rising transportation and operating costs.

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Business

NCC orders Telco’s To compensate subscribers for poor network service

The Nigerian Communications Commission (NCC) has instructed Mobile Network Operators (MNOs) to make things right for customers when the network quality in certain areas doesn’t meet the expected standards.

This directive was shared in a statement released on Sunday by Nnenna Ukoha, who leads the Public Affairs Department. The statement emphasized the Commission’s firm view that customers shouldn’t have to bear the entire brunt of service problems if operators aren’t meeting the required service delivery benchmarks.

Part of the statement said “Under this directive, erring operators will compensate affected users directly for breaches of Quality of Service (QoS) Key Performance Indicators (KPIs).
Mobile Network Operators (MNOs) shall be required to pay these compensations for instances of poor quality of service recorded within specified time frames.

The compensation will be provided in the form of airtime credits, calculated based on subscribers’ average spending patterns and their presence within Local Government Areas where service failures occur.”

Ukoha explained that this directive stems from the Commission’s overall approach to regulation, which prioritizes the consumer right at the heart of Nigeria’s telecommunications landscape. They emphasized that today’s telecommunications services are fundamental to economic activity, social connections, and gaining access to digital possibilities.

“When service quality is poor, the consequences affect productivity, commercial activities, and even public confidence in our communications system.

While regulatory fines have traditionally served as a deterrent against poor service delivery, the Commission is adopting a more consumer-focused approach that strengthens accountability within the industry,” the statement said.

The Commission has designed this measure to complement existing and ongoing efforts to strengthen service quality monitoring and enforce performance standards.

“Further to this directive by the Commission to MNOs on compensation to consumers, the Commission is also mandating Tower Companies that own the critical infrastructure for Quality of Service delivery, such as masts, to invest in infrastructure with measurable outcomes using sums that it has fined these companies, in addition to other financial fines the Commission will deem appropriate.

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News

FG Says Nigeria needs $100 billion to solve power crisis

Nigeria needs over $100 billion in public and private investments to achieve 24-hour electricity, as Power Minister Adebayo Adelabu outlines funding gaps, gas shortages, and sector reforms. The Federal Government has revealed that Nigeria needs more than $100 billion in combined public and private investment across the entire power sector to ensure a reliable 24/7 electricity supply.

At a press conference, where he was updating the public on recent developments and achievements in the power sector under the current government, the Minister of Power, Adebayo Adelabu, acknowledged the recent decline in electricity supply across the country. He apologized to the people of Nigeria and promised to take quick steps to fix the situation.

Put together, we are talking of over $100bn of investments in the upstream, midstream, and downstream of the power sector value chain,” Adelabu said. “This is not a figure to be underestimated, but it is achievable in phases, through a combination of government and private sector participation. Patience and consistent investment are key.”

The minister explained that the government has worked out the costs: bringing an extra 20,000 megawatts of power online would likely set them back around $30 billion, based on an average cost of $1.5 billion for every 1,000MW plant. Getting that power to where it’s needed through transmission lines is estimated at $20 billion, while setting up distribution networks and gas pipelines would cost roughly $25 billion and $22 billion, respectively.

Adelabu pointed out that while South Africa, with a population of about 60 million, is considering a $25 billion private investment in its energy sector, Nigeria’s much larger population – over 200 million – means we need to invest even more, proportionally speaking.

Although there are difficulties now, the minister also emphasized the significant progress that has been made since the current administration took office in September 2023. “For the first time in Nigeria’s history, we achieved a generation peak of 6,001 megawatts in April 2025, and the highest transmission of 5,801 megawatts on March 2, 2025,” he said.

“This was made possible through completion of the Zungeru hydro power plant (700MW), rehabilitation of existing thermal plants, and expansion of renewable energy via mini-grids.”

Installed capacity rose from 13,000MW in 2023 to 14,400MW in 2025, while financial interventions included a N4tn debt restructuring to clear outstanding unpaid subsidies to power-generating companies, of which N501bn has already been raised from the bond market and disbursed.

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