Business
Adeleke orders immediate freezing of Osun bank accounts after sworn-in
Sen. Ademola Adeleke of the Peoples Democratic Party (PDP) was sworn in on Sunday at Osogbo as the sixth executive governor of Osun.
He immediately ordered the freezing of the state’s accounts in banks and in other financial institutions.
Chief Judge of Osun, Justice Adepele Ojo, administered the oath of office on Adeleke at the Osogbo City Stadium.
Earlier, Justice Ojo administered the oath of allegiance to Adeleke’s deputy, Mr Kola Adewusi.
Adeleke succeeded former Gov. Gboyega Oyetola of the All Progressives Congress (APC).
He directed an immediate return to the status quo ante of all appointments, placements and other major decisions taken by Oyetola’s administration from July 17, the day after the governorship election in the state.
Adeleke said a panel would be set up to conduct an inventory of government assets and recover those in the wrong hands.
The governor ordered an immediate reversal to the Constitutionally-recognised name of the state as Osun State from the former “State of Osun’’.
The penultimate governor of Osun, Ogbeni Rauf Aregbesola, now Minister of Interior changed the name from Osun State to the State of Osun.
“All government insignia, correspondences and signages should henceforth reflect Osun State, rather than `State of Osun’, which is unknown to the Nigerian Constitution.
“Under my watch as the governor of Osun, I will boldly correct all past injustices, corrupt acts or policies by any previous administration, which are against the collective interest of our people,’’ he said.
He assured me that all directives he gave on Sunday would be backed with appropriate executive orders.
Adeleke assured that as governor, he would meet the Osun people’s expectations as the Chief Security Officer of the state.
He said his administration would also demonstrate a high sense of urgency, transparency, justice and innovation to tackle and solve the problems of poverty, illiteracy, disease, and poor infrastructure in the state.
“I know that as a product of the collective will of you my people, there is a heavy weight of history on my shoulders and I accept the urgency of your expectations.
“The depth of your aspirations and your conviction in me to build a better state will not be misplaced,’’ he said.
Adeleke said that all policies that were not favourable to the growth and effective local government administration would be reviewed in accordance with the law.
He assured labour unions in the state of his administration’s willingness to protect workers’ interests and to promote their welfare at all times, adding that he would be labour-friendly.
The governor frowned at what he described as mass employment by the immediate past administration without financial backing.
He pleaded with workers to give him a few weeks to review and sort out all “malicious actions and confusions’’ that the immediate past administration had created since July 17.
The governor also promised to fulfil his campaign promises.
The promises included the welfare of workers and pensioners; boosting the state’s economy, a home-grown infrastructure policy and a people-focused policy on education.
Others were affordable healthcare, security, social welfare and agro-based industrialisation for wealth and job creation.
“I hereby extend a strong hand of fellowship to the other arms of government, the Legislature and the Judiciary.
“As a former lawmaker and a graduate of criminal justice, I appreciate the importance of collaboration between the Executive, the Legislature and the Judiciary.
“I call on all political parties to unite in the best interest of the state. Election is over. Now is the time for governance. We are open to fresh ideas in line with our manifesto.
“For the purpose of emphasis, I will be a governor for all Osun people regardless of differences in language, faith, political affiliation or any other considerations,’’ he said.
The News Agency of Nigeria (NAN) reports that dignitaries at the inauguration included Govs. Godwin Obaseki of Edo, Udom Emmanuel, of Akwa Ibom, Ifeanyi Okowa of Delta, Aminu Tambuwal of Kano, and Douye Diri of Bayelsa.
Others were PDP’s presidential candidate, Alhaji Atiku Abubakar, his wife Titi, PDP National Chairman, Mr Iyiorcha Ayu, and former Senate President, Mr Bukola Saraki.
Other still were the Ooni of Ife, Oba Adeyeye Ogunwusi, former Ekiti governor, Ayodele Fayose, Tony Elumelu, and David Adeleke, aka Davido, among others.
Business
Businesses count losses amid power outage in Bauchi, Gombe, and Jigawa
Business owners in Bauchi, Gombe and Jigawa are recording losses due to week-long blackout ocassioned by vandalism of the power transmission line in parts of northern Nigeria.
The sudden disruption in electricity supply in the past days, also affected essential services such as water, sanitation, street lighting and healthcare delivery as most hospitals have been operating without light.
Some of the affected businesses including shop keepers, millers and artisans, who spoke while reacting to a survey by the News Agency of Nigeria (NAN), described the situation as “pathetic”.
The survey examined the perennial collapse of national grid and the need for alternative power supply in the country.
Rice millers in Gombe had decried the impact of the erratic power supply on their businesses.
A Miller, Musa Arab, at Nassarawo Industrial Layout in Gombe, said the trend was crippling their operations as they relied on electricity supply from the grid to process paddy.
He said the mills were not operational power outage as they could not afford exorbitant pump prices of petrol or diesel to run their machines.
This, he said, reduced the volume of rice supply to the market and posed serious challenge to food security.
“We must invest in power because it is the biggest determining factor for industries to thrive.
“I have over 20 workers in my mill, and we have 100 mini rice mills here, so you can imagine those who have no jobs for the past 10 days.
“Government must go tough on those responsible for the perennial grid collapse because some persons may be benefitting from it,” he said.
Also, Yusuf Ibrahim said the situation might trigger the already fragile inflation, as prices of local varieties would shot up ocassioned by the diminish supply.
He said that some had jerked up their charges to cover the expenses on diesel thereby affecting rice prices.
A check by NAN at the Gombe Main market showed that a 100 kilogramme of rice was sold for between N120,000 and N160,000, as against N110,000 and N150,000, before the blackout.
Mr Usman Sani, a rice dealer, attributed the hike in price to low supply of the produce to the market in spite of the number harvest recorded this cropping season.
He said the prices had decreased slightly at the onset of the harvest, however, it showed sprawling increase due to power outage.
“The price of rice is already dropping as a result of harvest but the trend reverse since the blackout in the past days “ he said.
Ugochukwu Daniel, a bartender in Bauchi, decried the epileptic power supply in the country, adding that lack of durable energy supply would retard Nigeria’s quest to attain social and economic greatness.
Daniel said that she spent much on fuel to run power generator for refrigrator and lightening the beer parlour, to enable her to keep the business running.
He said that businesses could only thrive in an enabling environment with stable electricity supply, to enhance wealth creation and reduce poverty among Nigerians.
“My trade is about chill drinks and it survives on electricity to operate otherwise you will out of bussiness.
“Without electricity there is nothing you can do, and not only business but about everything. We depend on it,” he said.
Similarly, Samuel Adamu, said the persistent power outage had forced him to patronised charcoal for ironing clothes in spite of its high cost and cumbersome processes.
He said that most cleaners in the area had resorted to fabricated iron charcoal in spite of hike in its prices which suddenly jumped from N5,000 to N15,000.
Adamu said the situation also encouraged division of labour in laundry to cut cost and make some gains.
“Presently, I do wash the cloth, and engage someone for ironing. The charge is N300 per set as against N150”.
While advocated development of renewable energies to enhance power supply in the country, Adamu urged security agencies to entensify efforts towards electrical installations in the country.
In the same vein; Mr Muhammad Adamu, Chairman, Jigawa State House Assembly Commitee on Power and Energy, said the Jigawa Electricity Law 2024, made sound provisions to improve power generation and distribution in the state.
This, he said, was an offshoot of the devaluation brought about by the 5th alteration of the constitution, where removed power from the executive legislative list and to the concurrent list.
“It empowered the state houses of assembly to enact laws on power.
“The committee has also carefully pursued the bill and reviewed its structure and the promise it holds for the state power sector, infrastructure and the overall economy of the state.
“The new law will pave way for the establishment of Jigawa Electricity Commission, to regulate the state’s electricity market,” he said.
According to Adamu, the law will protect residents and investors in the energy sector through ensuring prepaid meter installation and possibility of recouping investor’s funds as well as address vandalism.
“The law will lead to provision of reliable, affordable and sustainable power, essential for development of all sectors of the economy, particularly in rural areas,” Adamu said.
“Vandalism will be over because we pay Kano Electricity Distribution Company (KEDCO) money for powered supplies, but whenever there is problem of damages or broken down transformers, it is either the communities or individuals that pay for the repairs”.
Business
Mercedes urges delay of EU tariffs on Chinese electric vehicles
The head of German luxury carmaker Mercedes-Benz, has called for the European Union to de-escalate the dispute with China over tariffs on electric cars.
“We need more free trade instead of new trade barriers.
“That is why it is important to find a solution that suits both the EU and China,” chief executive Ola Källenius told the Monday edition of Bild newspaper.
“The negotiations for this take time. In order not to jeopardise them, the EU should postpone the enforcement of the planned tariffs,’’ he said.
At the start of the month, a majority of EU countries paved the way for additional tariffs of up to 35.3 per cent on battery-powered electric vehicles imported from China.
Germany, however, voted against the measure amid concerns over retaliatory actions which could hurt the country’s giant car industry.
The European Commission had pressed for extra tariffs after an investigation accused Beijing of subsidising domestic electric car manufacturers, and thus distorting the market in the EU.
But whether the import tariffs would actually come into force at the beginning of November is still up to the commission.
The plans can still be dismissed if Brussels reaches a solution with China at the negotiating table.
Business
ACCI moves to promote business connections, balance work-life
The Abuja Chamber of Commerce and Industry (ACCI), is taking innovative steps to enhance professional relationships and promote a healthy work-life balance.
The President of ACCI, Dr Emeka Obegolu, said this in a statement on Tuesday in Abuja.
Obegolu said ACCI was committed to creating environments where professionals could connect beyond the confines of traditional boardrooms.
He said the upcoming “Business Meets Golf’’ Tournament epitomises this vision.
“Scheduled for Oct. 18 to Oct 19 at the IBB Golf Club, the tournament will gather industry leaders, top executives, and key decision-makers for a unique networking experience.
“This two-day event aims not only to strengthen business ties but also to foster partnerships that can drive economic growth.
“The ACCI’s initiative reistates the importance of maintaining a balance between professional achievement and personal well-being.
“By encouraging corporate cultures that prioritise relaxation and self-care, the Chamber acknowledges that such balance is vital for productivity and overall success,” he said.
According to Obegolu, the event will feature a range of activities designed to facilitate both business engagement and relaxation.
“Highlights include a Business-to-Business (B2B) cocktail on the first day, followed by the golf tournament and additional networking opportunities on the second day.
“The tournament will culminate in an awards ceremony recognising outstanding golfers among the participants.
“‘Business Meets Golf’ exemplifies our dedication to fostering innovative networking opportunities.
“We aim to create spaces for meaningful discussions that can lead to impactful collaborations,” Obegolu said.
The ACCI boss said in addition to promoting business connectivity, the council aimed to restate the importance of relaxation and a balanced lifestyle.
Obegolu said through events like this, the Chamber continued to play a pivotal role in supporting trade and industry in Nigeria while driving sustainable growth within the private sector.
He said to raise awareness about this landmark event, ACCI was partnering with the News Agency of Nigeria (NAN) and Media Trust Limited, to ensure broad visibility and engagement from leading brands.
The Abuja Chamber of Commerce and Industry (ACCI), is taking innovative steps to enhance professional relationships and promote a healthy work-life balance.
The President of ACCI, Dr Emeka Obegolu, said this in a statement on Tuesday in Abuja.
Obegolu said ACCI was committed to creating environments where professionals could connect beyond the confines of traditional boardrooms.
He said the upcoming “Business Meets Golf’’ Tournament epitomises this vision.
“Scheduled for Oct. 18 to Oct 19 at the IBB Golf Club, the tournament will gather industry leaders, top executives, and key decision-makers for a unique networking experience.
“This two-day event aims not only to strengthen business ties but also to foster partnerships that can drive economic growth.
“The ACCI’s initiative reistates the importance of maintaining a balance between professional achievement and personal well-being.
“By encouraging corporate cultures that prioritise relaxation and self-care, the Chamber acknowledges that such balance is vital for productivity and overall success,” he said.
According to Obegolu, the event will feature a range of activities designed to facilitate both business engagement and relaxation.
“Highlights include a Business-to-Business (B2B) cocktail on the first day, followed by the golf tournament and additional networking opportunities on the second day.
“The tournament will culminate in an awards ceremony recognising outstanding golfers among the participants.
“‘Business Meets Golf’ exemplifies our dedication to fostering innovative networking opportunities.
“We aim to create spaces for meaningful discussions that can lead to impactful collaborations,” Obegolu said.
The ACCI boss said in addition to promoting business connectivity, the council aimed to restate the importance of relaxation and a balanced lifestyle.
Obegolu said through events like this, the Chamber continued to play a pivotal role in supporting trade and industry in Nigeria while driving sustainable growth within the private sector.
He said to raise awareness about this landmark event, ACCI was partnering with the News Agency of Nigeria (NAN) and Media Trust Limited, to ensure broad visibility and engagement from leading brands.
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