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Alake of Egbaland quits as chairman of OANDO

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By Kayode Sanni-Arewa

The Alake of Egbaland, Oba Adedotun Gbadebo, has quit his exalted ‘throne’ as chairman of Oando Plc.

The company has, therefore, appointed Ademola Akinrele as its Board chairman after Oba Gbadebo, resigned from the position.

In a statement on Friday, Ayotola Jagun, the company’s Secretary, said Oba Gbadebo formally notified the board of his decision to step down as chairman and retire as a board member of Oando.

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Gbadebo’s resignation, according to Jagun, took effect immediately after Oando’s annual general meeting (AGM) held on December 17, 2024.

“Oba Gbadebo served with unparalleled distinction for over 18 years on the Board, including 12 years as Chairman,” Jagun said.

“Throughout his tenure, he provided steadfast leadership, wise counsel, and a fatherly presence, guiding the company through significant milestones, including several landmark transactions.

“His steady hand and unwavering commitment were pivotal in steering the company through challenges while ensuring growth and resilience.

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“The Board and Management of Oando Plc express their deep appreciation to Oba Gbadebo for his remarkable contributions and leadership over the years. His legacy will forever be an integral part of Oando’s story.”

AKINRELE HAS EXTENSIVE EXPERIENCE TO MOVE OANDO FORWARD’

Jagun said Akinrele would drive the company’s strategic vision forward, with his extensive experience, which includes working at Agip Plc, Danos & Curole Marine Contractors.

“Mr. Akinrele brings extensive experience and expertise to this role, having previously served as a Non-Executive Director on the Board and as Chairman of the Governance & Nominations Committee,” she said.

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“With decades of distinguished service in the legal profession, he is widely recognised as a leading authority in commercial law, litigation, aviation, and maritime matters.

“Mr. Akinrele holds an LL.B (Hons.) from University College London and an LL.M from the University of Cambridge.

“He has also served on the boards of Agip Plc, Danos & Curole Marine Contractors, and other notable institutions.

“His exceptional leadership abilities and capacity to foster consensus among stakeholders position him well to lead the Board effectively.

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“The Board is confident that, under his chairmanship, Oando Plc will build on its legacy of excellence and explore new avenues for growth.”

Jagun also announced the appointment of Cosmas Iwueze as an independent non-executive director, effective Dec toember 16, 2024.

“Cosmas Iwueze is a seasoned petroleum engineer and business leader with over three decades of experience in the oil and gas industry,” she said.

“Joining Chevron Nigeria Limited (CNL) in 1990, Cosmas rose through positions of increasing responsibility across Reservoir and Asset Management, Commercial Development, Operations, Project Management, and Business Strategy.

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“He also gained international experience working with Chevron in California and Angola. Cosmas previously held leadership roles as Business Services Director for Chevron’s Nigeria/Mid-Africa unit, General Manager of Operations, and General Manager of Asset Development and Exploration.

“Notable achievements include securing third-party financing for JV projects and contributing to national petroleum policy development during a secondment to the Nigerian government.

“Prior to retiring in November 2024, Cosmas served as Director of the NNPC/Chevron Joint Venture (JV), overseeing the JV asset development, major projects, as well as oil and gas production with profit and loss accountability.”

Jagun said Cosmos led strategic initiatives at the joint venture, managed multiple general managers, and acted as managing director when required.

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Baby factory dismantled in Mowe as Ogun police rescue pregnant women, children

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Ogun State Police operatives have dismantled an alleged baby factory at Abaren Village, Mowe, rescuing two pregnant women and four children while arresting six suspects including a nurse, following intelligence on suspected human trafficking and illegal adoption activities.

According to The Nation, the August 24 operation rescued Ilesanmi Foluke, 23, who is seven months pregnant, and Ejekwa Melody, 20, who is eight months pregnant. Four children were also recovered from the premises.

A follow-up operation traced a third victim, Blessing Bright Effiong, 26, to a nearby hospital where she had delivered a baby boy on August 20 — but the newborn’s whereabouts remain unknown. The case has been transferred to the State Criminal Investigation Department in Abeokuta for further investigation.

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ADC Kicks Against Endorsement of Tinubu by 500+ Jigawa Islamic Scholars

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The African Democratic Congress (ADC) has questioned the decision by more than 500 Islamic scholars and clerics in Jigawa State to endorse President Bola Tinubu for a second term in 2027.

The party’s Jigawa chapter described the endorsement as inappropriate, arguing that religious leaders should not allow political affiliations to compromise their independence or influence how they provide guidance to the public.

The ADC’s position was contained in a statement issued by its Jigawa State Deputy Chairman and North ADC Youth Ambassador, Ambassador Nuraddeen Suleiman Jidawa.

Jidawa acknowledged that individual clerics had the right to support candidates of their choice but maintained that such political positions should not be presented as the collective position of Nigeria’s Muslim population.

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The party also disputed some claims reportedly made by the scholars in support of the Tinubu administration, including the attribution of the Kano-Dutse/Kano-Maradi railway project to the current government.

According to the ADC, the railway project was approved and awarded during the administration of former President Muhammadu Buhari in 2021.

The opposition party therefore challenged the Federal Government to provide details of major capital projects initiated and substantially completed by the Tinubu administration in Jigawa State.

The party also rejected claims that the country’s security situation had improved significantly, particularly in the North-West.

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It cited reported incidents of kidnapping and terrorist attacks in Kaduna, Sokoto and Zamfara as indications that insecurity remains a serious national challenge.

The ADC further referenced a recent Al Jazeera report concerning a video purportedly showing abducted people being held by armed men following reports of mass abductions in Niger State.

The party argued that such developments made it inappropriate to describe Nigeria’s security crisis as resolved.

It urged voters to assess the Tinubu administration based on tangible results rather than political endorsements, listing security, employment, economic conditions, infrastructure, transparency and accountability among the areas that should be considered.

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The ADC also renewed its criticism of the removal of petrol subsidy, arguing that the policy had contributed to higher transportation costs and increased prices of food and other essential goods.

It called on Islamic scholars and clerics to preserve their independence and avoid becoming tools for political mobilisation.

“While we respect the right of individual clerics to make their political choices, such endorsements should not be presented as religious verdicts or as the position of Nigeria’s Muslim community,” the party said.

The party said religious leaders should instead use their influence to demand accountability from political authorities and provide moral guidance to society.

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The ADC urged Nigerians to make independent decisions ahead of the 2027 elections by examining how government policies have affected their livelihoods and the country’s overall development.

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Dangote Refinery raises fuel price by N15

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Dangote Petroleum Refinery and Petrochemicals FZE has raised the gantry price of Premium Motor Spirit (petrol) from N1,185 to N1,200 per litre, effective August 26, 2026.

In a notice sent to customers on Tuesday, the refinery’s Group Commercial Operations announced new depot prices for gantry and coastal deliveries.

The email, titled ‘PMS Price Change Communication (N1,185 per Litre To N1,200 Per Litre)’, instructed customers to note the revised DPRP PMS gantry and coastal prices, starting August 26, 2026.

As per the notice’s table, the coastal price increased from N1,562,265 to N1,582,380 per metric tonne, while the gantry price rose from N1,185 to N1,200 per litre.

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The refinery also asked customers to return all Authorisation to Collect documents for repricing, stating a new volume contract would be issued to resume immediate loading.

“You are advised to return all ATCs for repricing, and a new volume contract will be issued for immediate loading resumption. Should you require any further clarification, please do not hesitate to contact us,” the notice said.

The latest adjustment represents a N15 per litre increase in the gantry price and comes barely days after the refinery raised the price from N1,165 to N1,185 per litre.

The previous price increase was implemented at midnight on August 21, 2026, as reported by industry trackers.

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However, the most recent hike occurs amid declining international crude oil prices.

Oilprice.com data from Tuesday indicated that West Texas Intermediate crude was trading at $82.13 per barrel, a decrease of $2.88 or 3.39%. Brent crude was priced at $88.37 per barrel, down $3.80 or 4.12%. Murban crude also dropped to $92.71 per barrel, a decline of $8.73 or 8.61%.

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