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Egba Economic Summit Group Charts New Course At 11th AGM In Abeokuta

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The Egba Economic Summit Group (EESG) convened its 11th Annual General Meeting (AGM) in Abeokuta, Ogun State, on December 21, 2024.

The event, held at the Conference Room of Gbenga Adeoye & Co., Ibara GRA, brought together prominent Egba leaders, intellectuals, and members committed to advancing the economic development of Egbaland.

Presiding over the meeting, the Chairman of the Board, Chief Taiwo Adeoluwa, Agba Akin of Egbaland, emphasized the importance of unity among EESG members.

He noted that fostering stronger ties would naturally enhance resource mobilization for community growth.

The President of the Summit, Mr. Yinka Chris Coker, announced plans to adopt a new project implementation strategy in 2025, guided by recommendations from a committee led by Captain Temi Okesanjo.

He stated, “This new approach will drive more impactful outcomes for Egbaland.”

Former Chairman of the Board, Prince Abiodun Karunwi, urged members to contribute their resources actively, expressing dissatisfaction with those who defaulted on annual dues despite having the capacity.

Similarly, past President Chief Tokunbo Odebunmi called for efforts to reinvigorate member participation.

The AGM explored strategies to reposition Egbaland, with immediate past President Chief Shina Luwoye, joining virtually, challenging members to adopt a strategic approach to Egbaland’s development.

Alhaji Saheed Egbeyemi, renowned for his use of proverbs, stressed the urgency of personal developmental projects, urging members to increase their commitment in 2025.

Virtual participant Chief Tunji Sunmonu highlighted the need to realign activities with the summit’s foundational goals. Engineer Ola Sobande, also participating virtually, commended the Vice President, Dr.Gbenga Adeoye, for providing the summit’s secretariat space and pledged support for attracting new members in the coming year.

Dr. Adeoye underscored the importance of collaborative initiatives, particularly the Erunwon-Ajebo Free Trade Zone and the University of Medicine and Medical Sciences, set to commence in 2025.

He affirmed that these projects align with the summit’s vision of fostering development across Egbaland.

Responding to the proposed creation of Ijebu State, Dr. Adeoye emphasized that the development would not impede Egbaland’s growth but would instead foster mutual progress across Ogun State.

The AGM featured the presentation of the 2024 financial statement by the external auditors, Jubril Olawale & Co.

It was resolved that future meetings would be self-sponsored to preserve summit funds, with Dr. Gbenga Adeoye hosting the 2024 AGM expenses.

Subsequent quarterly meetings were assigned to specific members, with Alhaji Saheed Egbeyemi hosting January to March meetings and Engineer Tokunbo Odebunmi handling April to June.

The meeting concluded with the inauguration of a Strategic Repositioning Committee comprising Captain Temilola Okesanjo, Chief Tokunbo Odebunmi, Dr. Kehinde Sogunle, Dr. Gbenga Adeoye, and Chief Shina Luwoye.

Members reaffirmed their commitment, with many settling dues for 2025 on the spot.

The session ended with the Egba Economic Summit Anthem and Egba Anthem, encapsulating the collective resolve to uplift Egbaland.

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Police rescue abducted seven year old girl, arrest her kidnappers in Ogun

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Police in Ogun state have rescued an abducted seven year old girl who operates a point of sale (POS) at Sango Ota.
The suspected kidnapper of the girl was also arrested by the police.
She was found by the police in Ayetoro in Ogun west.
The girl was abducted since Monday by her mother’s customer who was later demanding a huge ransom to free her.
Police spokesperson, Omolola Odutola, said the girl was rescued by anti-kidnapping squad led by the state police commissioner, Olanrewaju Ogunlowo.
The rescue operation came, hours after some police officers were detained for allegedly demanding a N40,000 bribe to investigate the case of the kidnapped girl.

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Transfer of Regulatory Oversight of the Electricity Market in Ogun State to OGERC

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In compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended), the Nigerian Electricity Regulatory Commission (“NERC” or the “Commission”) has issued an order to transfer regulatory oversight of the electricity market in Ogun State from the Commission to the Ogun State Electricity Regulatory Commission (OGERC).

Recall that with the EA 2023, the Commission retains the role as a central regulator with regulatory oversight on the inter-state/international generation, transmission, supply, trading and system operations.

The EA also mandates any state that intends to establish and regulate intrastate electricity markets to deliver a formal notification of its processes and requests NERC to transfer regulatory authority over electricity operations in the State to the State Regulator.

Based on this, the Government of Ogun State complied with the conditions precedent in the laws, duly notified NERC and requested for the transfer of regulatory oversight of the intrastate electricity market in Ogun State.

The transfer Order by NERC has the following provisions:

  • Direct Eko Electricity Distribution Company (EKEDP), Ikeja Electric PLC (IE) and Ibadan Electricity Distribution Company (IBEDC) to incorporate subsidiaries: EKEDP SubCo, IE SubCo and IBEDC SubCo respectively to assume responsibilities for intrastate supply and distribution of electricity in Ogun State from EKEDP, IE and IBEDC.
  • EKEDP, IE and IBEDC shall complete the incorporation of EKEDP SubCo, IE SubCo and IBEDC SubCo within 60 days from 24th December 2024. The subcompanies shall apply for and obtain licences for the intrastate supply and distribution of electricity from OGERC, among other directives.

All transfers envisaged by this order shall be completed by 23rd June 2025.

To view the Order, visit the NERC website.

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Industrial Revolution has Commenced in Ogun, Says Nigerian Shippers’ Council Boss

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The Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council, Barrister Ukeyima Akutah, has said that based on the remarkable level of the Ease of Doing Business Index in Ogun State, the state is leading the rest of the country in the ongoing industrial revolution embarked upon by the Federal Government.

He noted that this is in tandem with the policy statement of President Bola Ahmed Tinubu-led administration to change the old system of production and make the country more industrialized to the level of appreciable prosperity and job creation.

Akutah added that the efforts of the Ogun State Government in the area of infrastructural development have enhanced industrial growth, thereby complementing the strides of the Federal Government towards sustainable transformation and industrialization.

The Nigerian Shippers’ Council boss made this known on Monday while leading a delegation of the council to the Governor’s office at Oke-Mosan, Abeokuta.

The delegation, which comprised directors and other heads of units in the agency, also presented an Outlined Certificate of Compliance to the Governor on the Inland Dry Port located in the Papalanto area of the state, which was flagged off recently by the Minister of Marine and Blue Economy, Alhaji Adegboyega Oyetola.

Akutah further commended the Governor for his determination to raise the bar of business activities in the state and develop critical infrastructure as a way of opening the state for an array of productive activities.

“We commend you and your team for being consistent with infrastructural development in all sectors of the state’s economy. One of those infrastructures is the Gateway International Agro-cargo Airport, as well as the Inland Dry Port for which we are presenting its Certificate of Compliance to you today.

“Obviously, you have demonstrated capacity and quality leadership by all standards, and your state is piloting the ongoing industrial revolution in Nigeria as conceived by President Bola Ahmed Tinubu,” Akutah said.

In his response, the Governor, Prince Dapo Abiodun, commended the delegation for the visit and for granting the Certificate of Compliance for the take-off of the Papalanto Inland Dry Port, saying it was a significant step in the quest for the establishment of the port.

The Governor described the Papalanto Inland Dry Port as a strategic port of operation aimed at decongesting the Lagos Ports and boosting industrial activities in Ogun State, which has the highest number of industries in Nigeria.

He explained that through the concept of the Multi-modal Transportation System adopted by his administration upon assumption of office, the Inland Dry Port would be an efficient mechanism for the industrial revolution embarked upon by the Federal Government.

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