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Senate President: More S/South groups drum support for Akpabio

Blessing Oziwo by Blessing Oziwo
January 6, 2025
in News
Reading Time: 2 mins read
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Senate President: More S/South groups drum support for Akpabio

Senator Godswill Akpabio

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A coalition of groups, comprising all the states in the South-South region, has drummed up support for former Minister of Niger Delta Affairs, Senator Godswill Akpabio, to emerge as president of the 10th senate to be inaugurated in June this year.

Addressing a press conference in Uyo on Monday under the aegis of Coalition of South-South Community for United Nigeria, Justice, and Equity, the chairman of the group, Hon Eseme Eyibo, said Akpabio is more qualified to be the senate president.

The coalition also appealed to the All Progressives Congress (APC) President-Elect, Sen. Bola Tinubu, and the Senators-Elect to zone the Senate President to the South-South region for equity, justice, and fairness.

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Eyibo, a former member of the House of Representatives and immediate past chairman of Cross River Basin Authority, said that Akpabio has the capacity and pedigree to occupy the office of the senate president.

He, however, urged the APC President-Elect, Vice President-Elect, and Senators-Elect to ensure that the Senate President emerges from the South-South.

His words: “Since 1999 we have had a model that where the President goes is where the Senate President and Speaker goes. The South-South that produces the oil has not been part of the priority list of the government.

“We are united by this demand, appeal, and request to the APC, President-Elect, Sen. Bola Tinubu, the Vice President- Elect and Senators-Elect that the position of Senate President should be zoned to the South-South.

“It is a request to the APC, the President-Elect, Asiwaju Tinubu, and all well-meaning Nigerians that the office of the senate president should be zoned to the south-south.

“The reasons are very clear. Since 1999, the position of the senate president has always been occupied by one region.

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“So, if we follow the model of what has been going on in this country each time the senate presidency comes to southern Nigeria, it is usually micro-zoned to the South East.

“South East has had uninterrupted Senate President five times. His Excellency Adolphos Wagbara from Abia State, Evans Enwerem from Imo State, Chuba Okadigbo from Anambra State, Pius Anyim from Ebonyi State, and Ken Nnamani from Enugu State.

“The position has been distributed to five South Eastern states, so, now the Senate President coming to the South cannot go to the South West because the president of the federal republic of Nigeria is from the southwest, the natural place, if we mean zoning it should go to is the South-South.

“What an average Nigeria is looking for now, is strong institutions not strong individuals, sustainable development goals and we need somebody who has the pedigree and capacity to actualize that for a united Nigeria, that person is here in the South-South.

“We are presenting, Sen. Godswill Akpabio, for this position, without a doubt we seek the support of all,” Eyiboh appealed.

Eyibo, who was flanked at the media briefing by representatives from Cross River, Bayelsa, Edo, Rivers, Delta, and Akwa Ibom states, said that Akpabio being a former governor of Akwa Ibom, former Senate Minority Leader and one time Minister, Ministry of Niger Delta Affairs, has the ability to galvanise the executive and the legislature for the betterment of Nigeria.

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Tags: Senator Godswill Akpabio
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AI Material Exposure

AI Now Drives 62% of S&P 500 Market Value as 218 Companies Join $42.4tn AI Economy

September 3, 2026
I’ve edited this into a fuller newspaper-style technology/business report, with a stronger SEO headline, the primary keyword naturally integrated, key highlights after the opening paragraph, and a clean SEO keyword section. # AI Now Drives 62% of S&P 500 Market Value as 218 Companies Join $42.4tn AI Economy **By The Trumpet News** Artificial intelligence has become a dominant force in the US stock market, with companies that have material exposure to the AI value chain now accounting for **62.04 per cent of the total market capitalisation of the S&P 500**, according to a new analysis by BestBrokers. The analysis of all 503 S&P 500 constituents found that 218 companies across eight categories have a combined market capitalisation of approximately **$42.4 trillion**, highlighting how deeply artificial intelligence has become embedded in the broader US economy and investment market. ### Key Highlights * **AI-exposed companies account for 62.04% of S&P 500 market capitalisation.** * **218 companies** have material exposure to the AI value chain. * AI-related companies have a combined market value of about **$42.4 trillion**. * AI chips and hardware suppliers represent the largest category at **18.14%** of the index. * AI cloud and model providers account for **17.18%**, despite comprising only five companies. * AI software and applications represent **10.82%** of the S&P 500. * AI-related energy, utilities and infrastructure companies collectively contribute billions of dollars in market value. * **285 companies, representing 37.96% of the index, remain outside the AI ecosystem** under the report's methodology. ## AI Exposure Spreads Across S&P 500 The findings suggest that artificial intelligence is no longer limited to a small group of technology companies widely associated with the sector. BestBrokers analysed the 503 companies that make up the S&P 500 and classified them according to their roles within the wider AI economy. The categories include AI chips and hardware, cloud and model providers, AI software and applications, energy and utilities, data centre infrastructure, infrastructure suppliers, and security and trust services. The analysis used market capitalisation data from July 2026 to determine the contribution of each category to the overall S&P 500. According to the report, the result shows that investors are increasingly exposed to the AI economy through a broad range of companies, even when they do not directly invest in businesses traditionally identified as AI stocks. ## AI Chips and Hardware Lead the Market AI chips and hardware suppliers emerged as the largest category, accounting for **18.14 per cent of the S&P 500**. The category comprises 28 companies with a combined market capitalisation of approximately **$12.39 trillion**. Major companies in this segment include **NVIDIA, Broadcom, Micron Technology, AMD and Intel**, reflecting the importance of semiconductor manufacturers and hardware suppliers to the rapid expansion of artificial intelligence. The growing demand for computing power has made semiconductor companies a critical component of the AI investment ecosystem, particularly as businesses and technology providers continue to expand their AI infrastructure. ## Hyperscalers Account for 17.18% AI cloud and model providers make up another major component of the AI economy, accounting for **17.18 per cent of the S&P 500**, according to the analysis. The category consists of only five companies, namely **Microsoft, Oracle, Meta Platforms, Amazon and Alphabet**. Collectively, the five companies are valued at approximately **$11.74 trillion**, making the cloud and model-provider segment one of the most influential components of AI exposure within the index. 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The findings highlight the broader economic impact of AI infrastructure, particularly the demand for electricity, data centres, networking equipment and other supporting services. ## Security Companies Form AI Trust Layer The security and trust segment also plays a role in the expanding AI ecosystem. Seven companies in the category have a combined market capitalisation of approximately **$674.5 billion**, representing about one per cent of the S&P 500. Companies such as **Palo Alto Networks, CrowdStrike and Fortinet** are among those identified in the category. As businesses increasingly deploy artificial intelligence, cybersecurity and trust mechanisms have become important components of protecting data, systems and AI-enabled operations. ## 38% of S&P 500 Remains Outside AI Economy Despite the growing influence of artificial intelligence, the analysis found that a significant portion of the S&P 500 remains outside the AI ecosystem. The report identified **285 companies, representing 37.96 per cent of the index**, as having no material exposure to the AI value chain under its methodology. This means that while AI now accounts for nearly two-thirds of the S&P 500 by market value, more than one-third of the index remains outside the AI investment theme. ## AI Creates Potential Concentration Risk Alan Goldberg, a data analyst at BestBrokers, said the findings demonstrate that AI's influence on financial markets has expanded beyond the companies most commonly associated with the technology. He noted that investors may already have substantial AI exposure through their portfolios even when they are not deliberately targeting AI investments. Goldberg also highlighted a potential concentration risk, pointing to the enormous market values of a relatively small number of companies and their influence on the broader index. The findings come as investor attention increases around the expected initial public offerings of leading artificial intelligence companies, including Anthropic and OpenAI. The broader AI ecosystem suggests that the technology's impact on financial markets extends far beyond frontier AI developers, encompassing semiconductor manufacturers, cloud providers, software companies, energy firms, data centres, cybersecurity companies and other infrastructure providers. The BestBrokers analysis therefore presents AI not merely as a technology sector, but as an increasingly significant component of the wider US stock market and investment landscape. ## SEO Keywords AI economy, S&P 500 AI companies, AI stocks 2026, artificial intelligence stocks, S&P 500 market capitalisation, AI market value, AI investment, AI companies in the S&P 500, AI chips and hardware, AI cloud providers, AI software companies, AI infrastructure stocks, AI energy companies, AI cybersecurity companies, NVIDIA AI, Microsoft AI, Amazon AI, Alphabet AI, artificial intelligence investment, US stock market, AI market exposure, AI investment ecosystem

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