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Investors Commit Over $80m To Osun Infrastructures, Multiple Domestic Gas Projects
Two conglomerates have committed to investing close to $80 million in infrastructures within the framework of the Osun State Public Private Partnership (PPP).
According to a statement in Osogbo on Wednesday by the Spokesperson to the Osun State Governor, Olawale Rasheed, his principal led other members of the cabinet to a marathon meeting with the investors.
The investors include Allegiance CNG Limited focusing on comprehensive sustainable energy solutions through Compressed natural gas and First Tricon Construction Services Limited with earmarked projects across infrastructures sub-sectors.
The Allegiance CNG led by its Managing Director, Deji Afolabi listed several gas projects for which Osun state is to benefit up to the tune of Twenty Million dollars.
Mr. Afolabi who said his firm is among those engaged by the federal government for the adoption of CCG in transportation in the wake of fuel subsidy removal, said it is willing to invest in power generation for Osun State to power the industrialisation objective of Governor Ademola Adeleke beginning with the powering of State Secretariat and Government House 24/7 at no cost.
He said, “We are here Your Excellency with a basket of projects and services. We propose mutually beneficial public private partnership. The Osun government will only provide land while Allegiance CNG will provide technical expertise, construction capabilities and private investment.
“Our principal financial partner is the African Development Bank. We have the funding already.”
Promising a major reduction in gas kg cost from current one thousand, four hundred naira to about four hundred naira, the managing director said the proposed investment covers several gas value chains to expand Osun economy and reduce energy poverty.
He said the plant by the firm will be stationed in three locations and reflects senatorial demography, promising to present sample of the household gas to the governor within two weeks.
In his own presentation, the Chairman of First Tricoon Construction Services Limited, Remi Olumuyiwa said his company was impressed with the infra initiatives of the governor, hence its decision to refocus a 60-million-dollar investible fund for roads, bridges, water and housing projects across Osun.
Applauding the governor for exciting investors’ confidence by his elaborate policy innovations, Otunba Olumuyiwa said the company had handled big infrastructure projects in Nigeria, Sierra Leone, Guinea and Liberia.
He made elaborate presentations to the governor and his team on several proposed infra projects, noting that the firm is a multifaceted company involved in building roads, bridges, houses with funding from several investors backed by top financial institutions.
Otunba Olumuyiwa posited that the firm is not going to burden the state with financial traps, assuring that it has a strong and good relationship with financial institutions for sponsorship of projects.
“We have a very good relationship with our banks and investors. When we see what we can deliver as in Osun, we have the capacity to do it. We are here because this is our country, this is our state. We are ready to work with you to meet the housing and infra needs of our people”, the company chairman stated.
Responding, Gov Adeleke assured the company chiefs that Osun was implementing a fast tracked ease of doing business plan with a target on attracting investment into the state.
“These submissions here today are really massive. Osun is changing for the better. On a daily basis, various firms across the sector are reaching out to us with actionable proposals. I am glad that these two firms are really here to hit the ground running.
“We have the land. We have the enabling environment. Osun is already a huge construction site. You are welcome to the site.
“To the good people of Osun, more are coming. As I’m talking to you, more investors are knocking at our doors. We will not relent in the ongoing drive to expand Osun economy and ensure better life for our people”, the Governor concluded.
President Bola Ahmed Tinubu will depart Abuja on Sunday, January 26, 2025, to participate in the Africa Heads of State Energy Summit in Dar es Salaam, Tanzania.
The two-day summit, scheduled for January 27-28, 2025, is aimed at advancing “Mission 300,” a pan-African initiative to provide electricity to 300 million people across the continent by 2030.
Hosted by the Tanzanian government in collaboration with the African Development Bank Group and the World Bank, the summit will bring together African leaders, private sector stakeholders, development partners, and civil society organizations.
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The goal is to develop strategies for accelerating energy access in underserved regions, increasing renewable energy adoption, and mobilizing private sector investment.
According to a statement released on Saturday by Bayo Onanuga, Special Adviser to the President, the summit will serve as a platform for sharing expertise, knowledge, and resources to address Africa’s energy challenges.
The first day of the summit will feature ministerial-level discussions, during which participating nations, including Nigeria, will present their national energy strategies, or “compacts,” detailing their plans to achieve universal energy access within five years.
On the second day, African Heads of State will sign the Dar es Salaam Energy Declaration, a unified roadmap for achieving the goals of Mission 300.
President Tinubu is expected to deliver a national statement reaffirming Nigeria’s commitment to universal energy access and its leadership role in the continent’s energy sector.
He will also highlight Nigeria’s ongoing clean energy initiatives and integrated energy delivery strategies aimed at fostering sustainable development across Africa.
Accompanying the president will be key government officials, including Minister of State for Foreign Affairs Ambassador Bianca Odumegwu-Ojukwu, Minister of Power Adebayo Adelabu, and Special Adviser to the President on Energy Olu Verheijen.
President Tinubu is set to return to Abuja immediately after the summit concludes.
The menace of illegal migration is getting diplomatic attention from the Italian authorities and the Edo State Government.
The Chief Press Secretary to Edo State Governor, Fred Itua divulged this in a government house statement issued in Benin City on Saturday.
He explained that the Coordinator, Office of the First Lady, Edesili Anani had expressed the readiness of the Governor, Monday Okpebholo-led administration to tackle the menace of irregular migration among youths in the state.
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It was gathered that Anani made the stance public on Friday in Government House, Benin City, when Dr. Alberto Cilala, a consultant to the European Union and President of Mattei Africa for Humanitarian Aids Initiative in Italy, led a delegation to her office.
Welcoming the delegation, she highlighted the importance of collaboration to address the challenges posed by irregular migration.
The Coordinator expressed her gratitude to the delegation, and emphasized the transformative impact the partnership will bring to Edo State.
In her words, “This initiative will reduce unemployment, create job opportunities, and address human trafficking and irregular migration. It will also enhance education, skills acquisition, agricultural investment, and infrastructural development for our people.”
On his part, Dr. Cilala emphasized that the Mattei Plan would provide valuable skills to Edo State residents, including tailoring, furniture-making, shoemaking, and more.
“The Mattei Plan was launched by the Italian Government with a focus on six key sectors: education and training, health, security, agriculture, and renewable energy. The goal is to promote integrated development and improve living conditions, particularly in rural areas.
“These projects will be fully funded by the Italian Government through the Ministry of Foreign Affairs and Labour,” he stated.
Former Senior Special Assistant to the Edo State Government on Anti-Human Trafficking and Irregular Migration, Solomon Okoduwa, in his remarks, said the Mattei Plan prioritizes practical measures to reduce irregular migration and human trafficking.
“Although nine African countries are involved in this initiative, Edo State is a crucial partner for Italy. This partnership will strengthen bilateral relations under the leadership of His Excellency, Senator Monday Okpebholo,” he said.
Brand Ambassador of the Mattei Plan, Olorogun John Paul, popularly known as Daddy Showkey was at the event and lauded the initiative.
He noted, “This program provides an opportunity for Edo State beneficiaries to gain training in various skills, equipping them for sustainable livelihoods.”
Supporters of the impeached Speaker of the Lagos State House of Assembly, Mudashiru Obasa, on Saturday morning stormed the Speaker’s Lodge located at 47 Joel Ogunnaike Street, GRA Ikeja, Lagos.
The supporters, dressed in pro-Obasa vests and caps, arrived in large numbers at the premises.
According to multiple sources, the group was planning a “heroic welcome” for the former Speaker, who was recently removed from office by a majority of lawmakers in the House.
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Obasa, who was out of the country at the time of his impeachment, was replaced by the former deputy speaker, Mojisola Meranda.
Since her emergence as Speaker, Meranda has presided over two sittings, with Obasa absent from both.
The choice of the Speaker’s Lodge as the location for Obasa’s supposed welcome sparked controversy, as he is no longer officially entitled to the property following his removal.
A resident in the area expressed surprise over the situation, saying, “I didn’t expect that the lodge would be opened for them.”
Armed security personnel, including police officers, were deployed to the area to maintain order and prevent any potential disruption.
As of the time of filing this report, Obasa had yet to arrive at the lodge.
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