Tinubu Targets December 3 Inauguration for Kaduna-Kano Rail Project as Construction Hits 90%

The Kano-Katsina-Maradi railway project has also reached 70 per cent completion, according to the APC Presidential Campaign Council.

President Bola Ahmed Tinubu has intensified efforts to complete major railway projects in Northern Nigeria, with the Kaduna-Kano Standard Gauge Railway scheduled for inauguration on December 3, 2026.

The All Progressives Congress (APC) Presidential Campaign Council disclosed this in a statement issued on Sunday by its spokesperson, Dele Alake, stating that the 203-kilometre Kaduna-Zaria-Kano railway project had attained approximately 90 per cent completion.

The council also announced that the 400-kilometre Kano-Katsina-Maradi railway project, which extends towards the Niger Republic, had reached 70 per cent completion.

According to the statement, the Kano-Katsina-Maradi project was barely five per cent complete when Tinubu assumed office in 2023, while the Kaduna-Kano railway had achieved less than 30 per cent completion.

The projects, described as part of the administration’s major infrastructure initiatives, are expected to improve transportation, strengthen regional connectivity and facilitate the movement of passengers and goods across Northern Nigeria and neighbouring countries.

The Kaduna-Kano railway is an extension of the existing Abuja-Kaduna Standard Gauge Railway and is expected to establish a continuous rail connection between Abuja, Kaduna, Zaria and Kano, linking major commercial centres in the region.

The council said the projects were recently inspected on the directive of President Tinubu by a Federal Government delegation led by the Permanent Secretary of the Federal Ministry of Transportation, Engr. Funso Adebiyi.

The delegation reportedly expressed satisfaction with the quality of construction, particularly the railway alignment, drainage infrastructure, embankment protection, stone pitching and soil stabilisation.

As part of the inspection, officials undertook a test-run journey by train from Jaji in Kaduna State to Kano to assess the completed track infrastructure and passenger comfort.

The statement added that Tinubu had directed the immediate resolution of outstanding land acquisition and compensation issues within Kaduna metropolis to facilitate the completion of the remaining railway corridor linking Abuja and Kano.

It further disclosed that the 190-kilometre Jaji-Kano section of the Kaduna-Kano railway, alongside the 250-kilometre Dawanu-Kano-Kazaure-Daura-Katsina section of the Kano-Maradi project, was scheduled for inauguration on December 3, 2026.

When fully operational, the Kaduna-Kano railway is expected to provide an alternative to road transportation, improve passenger movement and boost commercial activities along one of Northern Nigeria’s busiest economic corridors.

Similarly, the Kano-Katsina-Maradi railway is expected to strengthen cross-border transportation and trade between Nigeria and the neighbouring Republic of Niger.

The APC Presidential Campaign Council said the projects reflected Tinubu’s commitment to ensuring that ongoing infrastructure developments across the country were completed as scheduled.

Tinubu Targets December 3 Inauguration for Kaduna-Kano Rail Project as Construction Hits 90%

Uwatse Joins Ade-Ojo, Maduka in Exclusive League of Nigeria Auto Legends

In a rare recognition of industry leadership and enduring contributions to Nigeria’s automotive sector, the Nigeria Auto Journalists Association (NAJA) has named Chief Benson Uwatse, Chairman of Weststar Associates Limited, recipient of the prestigious Nigeria Auto Legend Award at the 19th Nigeria Auto Industry Awards.

Uwatse’s emergence places him in an exclusive league of automotive icons, making him the third industry heavyweight to receive the distinction after Chief Michael Ade-Ojo, Chairman of Toyota Nigeria Limited, and Dr Cosmas Maduka, President and Chief Executive Officer of Coscharis Group.

The recognition celebrates Uwatse’s more than three decades of involvement in the Nigerian automotive industry, particularly his role in advancing the Mercedes-Benz brand and strengthening its presence in the country’s premium and luxury vehicle market.

The recognition underscores Uwatse’s longstanding involvement in the Nigerian automotive sector and his contributions to the development and representation of the globally renowned Mercedes-Benz brand in the country.

As Chairman of Weststar Associates Limited, the authorised general distributor of Mercedes-Benz in Nigeria, Uwatse occupies a strategic position in the country’s premium and luxury automobile market.

Weststar is responsible for coordinating Mercedes-Benz’s business activities in Nigeria, covering passenger cars, commercial vehicles, trucks and buses, alongside dealer support, marketing, training, genuine spare parts supply, warranties and after-sales services.

The company officially commenced operations in February 2008, assuming responsibility for Mercedes-Benz sales and after-sales operations in Nigeria. Its distribution network and authorised dealerships provide sales and servicing support across different parts of the country.

Uwatse’s association with the Mercedes-Benz brand spans more than three decades, giving him considerable experience in the Nigerian automotive business, particularly in premium vehicle distribution, customer relations and brand development.

His involvement in the business has also included leadership responsibilities in the Mercedes-Benz dealership network, specifically as Managing Director of MB Automobile Services Limited, one of the authorised Mercedes-Benz dealers in Nigeria.

The Nigeria Auto Legend Award is particularly significant because it recognises individuals whose contributions extend beyond routine business operations to the development, growth and advancement of the nation’s automotive industry.

Chief Ade.Ojo, the founder of Elizade Nigeria Limited and Chairman of Toyota Nigeria Limited, was the first recipient of the special industry recognition in 2017, in acknowledgement of his decades of investment, enterprise and contributions to Nigeria’s automobile business.

Dr Maduka, who transformed Coscharis from a modest automobile trading venture into one of Nigeria’s leading indigenous conglomerates, also earned recognition for his remarkable contributions to the automotive sector. Under his leadership, Coscharis Motors secured distribution franchises for several globally recognised automobile brands, including BMW, MINI, Rolls-Royce and Ford.

Uwatse’s emergence as the third recipient further reinforces NAJA’s commitment to celebrating individuals whose leadership, enterprise and industry experience have contributed significantly to the evolution of Nigeria’s automotive landscape.

The 19th edition of the Nigeria Auto Industry Awards, organised by NAJA, is scheduled to hold on Thursday, December 3, 2026, at the Civic Centre, Victoria Island, Lagos.

The annual awards bring together automobile manufacturers, distributors, dealers, policymakers, regulators, industry professionals and other stakeholders to celebrate outstanding achievements and recognise excellence across Nigeria’s automotive and transportation sectors.

Continental Reinsurance Strengthens IPO Appeal As Major Shareholder Commits To Five-Year Stake Retention

Continental Reinsurance Holdings Limited has strengthened its investment proposition ahead of its proposed listing on the Botswana Stock Exchange (BSE), following regulatory approval of its Supplementary Prospectus, which introduces significant changes to its shareholding structure and incorporates improved half-year financial results.

The development is expected to boost investor confidence in the planned Initial Public Offering (IPO), particularly following the decision by promoter-controlled existing shareholder vehicle, ACA Cornerstone Limited, to retain its entire stake in the company rather than exit as initially contemplated.

Under the revised offer structure, ACA Cornerstone will retain all 253,951,336 shares it currently holds, representing approximately 11.9 per cent of Continental Reinsurance Holdings’ enlarged issued share capital after completion of the offer, assuming all contemplated new shares are issued.

The shareholder has also provided a formal undertaking, subject to specified conditions, to retain the shares for a minimum of five years following the company’s listing.

The commitment represents a significant shift from the original offer structure and signals continued confidence in the company’s business prospects, while strengthening alignment between existing and prospective shareholders.

Commenting on the development, Group Managing Director of Continental Reinsurance Holdings, Mutsunge Lawrence Nazare, said the revised offer reflected the company’s willingness to engage with investors and address their concerns.

“We have engaged closely with investors and taken on board their feedback. The revised offer reflects that engagement and reinforces our long-term investment proposition,” Nazare said.

He explained that ACA Cornerstone’s decision to remain invested, alongside its five-year share retention undertaking, demonstrated its continued commitment to the business and its future.

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According to him, the development would strengthen the relationship between existing and incoming shareholders as the company prepares to enter the Botswana Stock Exchange.

Beyond the revised shareholding arrangement, the Supplementary Prospectus incorporates the Group’s audit-reviewed interim financial results for the six months ended June 30, 2026, showing a significant improvement in profitability and underwriting performance.

The company’s profit before tax surged by approximately 352 per cent to P79.2 million, compared with P17.5 million recorded during the corresponding period of 2025.

Similarly, profit after tax increased by approximately 902 per cent, rising to P64.4 million from P6.4 million in the previous year’s comparable period.

Insurance revenue also recorded growth, increasing by 2.4 per cent to P1.213 billion, reflecting continued business activity and revenue generation across the Group’s operations.

The company also reported a notable improvement in its underwriting performance, with its underwriting margin rising to 6.8 per cent from 4.2 per cent in the corresponding period of the previous year.

The improved margin points to stronger underwriting results during the period, complementing the significant growth recorded in the Group’s overall profitability.

As of June 30, 2026, Continental Reinsurance Holdings reported total assets of P3.27 billion and shareholders’ equity of P1.43 billion, providing further insight into its financial position ahead of the proposed public listing.

Despite the changes to the offer structure and the improved financial performance, the company said its offer price would remain unchanged at P1.00 per share.

Continental Reinsurance Holdings is maintaining its target of raising USD30 million in new growth capital through the offer for subscription. The funds are expected to support the Group’s growth ambitions and strengthen its capacity to pursue opportunities within the reinsurance market.

The Public Offer will remain open until 15:30 on Friday, November 20, 2026, while the company’s listing on the Main Board of the Botswana Stock Exchange is scheduled for December 10, 2026, subject to the fulfilment of applicable listing requirements.

The company has also made provisions for investors who submitted applications before the publication of the Supplementary Prospectus to reconsider their investment decisions in light of the revised offer.

Such investors may maintain, amend or withdraw their existing applications. However, the deadline for submitting amendment or withdrawal notices is November 11, 2026.

Applications for which no amendment or withdrawal notice is received by the stipulated deadline will remain valid and unchanged.

The Supplementary Prospectus is expected to be read alongside the original Prospectus dated August 4, 2026. Both documents are available on the company’s website, www.continental-re.com, as well as through its sponsor, Motswedi Securities.

With the retention of a major existing shareholder, a five-year commitment against an early exit, and substantially improved interim financial results, Continental Reinsurance Holdings is seeking to reinforce investor confidence as it moves closer to its planned entry into the Botswana capital market.

Continental Reinsurance Strengthens IPO Appeal As Major Shareholder Commits To Five-Year Stake Retention