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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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Wike waives C-of-O fees for Nigerian Law School, orders emergency staff housing(Photos)

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​The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has granted an immediate waiver of fees for the Certificate of Occupancy (C of O) for the Nigerian Law School’s Abuja campus in Bwari.

​Speaking during a meeting with the school’s management in Abuja, Wike also declared an “emergency” on the construction of staff quarters and other critical infrastructure to enhance the institution’s learning environment.

​Responding to an appeal from the Director-General of the Nigerian Law School, Dr. Olugbemisola Titilayo Odusote, Wike expressed surprise that the institution had operated without a C of O since moving to Bwari.

He described the lack of official documentation for government institutions as a trend that his administration is actively correcting.

The Minister directed the Director of Lands to waive all processing fees for the school’s C of O, and issued a firm directive to ensure the document is processed and ready within one week.

​ He noted that regularizing the land is essential to move the school from what he colloquially termed an “illegal session” to rightful ownership.

​Beyond land matters, the Minister committed the FCT Administration (FCTA) to several high-priority projects aimed at resolving overcrowding and improving staff efficiency.

​Wike announced that 10 staff quarters have already been completed and will be commissioned as part of the President’s third anniversary.

He further pledged to construct an additional 10 units using existing prototypes to save on design costs.

According to him, work is progressing on two new hostels—one for male students and one for female students—to alleviate overcrowding.

​The Minister confirmed he has approved the budget for a new auditorium and questioned why the contractor had not yet moved to the site.

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​ To modernize administrative functions, Wike directed the school to liaise with the FCTA General Counsel, to explore digitization solutions similar to ongoing efforts at the FCT High Court.

​ Wike emphasized that these interventions are part of President Bola Ahmed Tinubu’s broader agenda to support legal education and the judiciary.

He noted that the President is currently constructing “presidential apartments” for judges to ensure their security, welfare, and autonomy.

​”Anything we can do to help our children, we are willing to do that,” Wike stated, adding that the staff quarters must be treated as an emergency project to ensure rapid delivery.

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​Earlier, Dr. Odusote congratulated the Minister on his appointment and praised the visible infrastructure developments across the FCT, while highlighting the specific challenges of disrepair and infrastructure deficits facing the Law School.

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We’re not going to reverse reforms, Finance Minister, Oyedele tells investors

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Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has assured investors that the government will stay the course on economic reforms, declaring that policy reversals will not define the current phase of the country’s economic management.

The Minister stated this while speaking at the launch of the Nigerian Economic Summit Group Private Sector Outlook 2026 in Lagos on Thursday.

Oyedele said the administration is shifting from stabilisation to measurable growth, where reforms will be judged by outcomes rather than intent.

His comments came barely 48 hours after he assumed office, following the exit of Wale Edun from the Federal Executive Council.

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“We are not looking back,” Oyedele said, stressing that consistency in policy direction remains critical to investor confidence.

He warned that mixed signals or abrupt reversals could stall progress, noting that “businesses need to know that today’s decisions will still hold tomorrow.”

While pointing to early signs of macroeconomic stabilisation, including a more aligned exchange rate and improved revenue performance, the minister said these gains must translate into tangible outcomes such as job creation, productivity growth and better living standards.

He identified four priorities for driving investment in the next phase which includes, policy consistency, predictability across fiscal and regulatory frameworks, reduction in the cost of doing business, and improved access to capital.

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On financing, Oyedele said the government is working to expand credit across the economy, from consumer lending to industrial financing, with support from institutions such as the Bank of Industry, to stimulate growth and unlock private sector participation.

He added that Nigeria must target stronger real GDP per capita growth to make a meaningful impact on poverty, noting that modest growth figures would not be sufficient given the country’s population dynamics.

The minister further described the current stage of reforms as decisive, where success will depend on execution. “Reforms on their own do not create growth. We need investment at scale,” he said, adding that investors respond to stable and predictable environments, not policy announcements.

On the area of productivity, Oyedele said Nigeria must move beyond consumption-driven expansion and focus on improving output and competitiveness in key sectors, including agriculture, manufacturing, energy and the digital economy.

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He also called for deeper collaboration between government and the private sector, maintaining that economic growth cannot be delivered by public policy alone.

As the country enters what he termed a consolidation phase, Oyedele said the government would continue to deepen reforms, strengthen public financial management and improve coordination across all tiers of government.

He, however, acknowledged risks, including reform fatigue, inflationary pressures from global uncertainties, and political tensions ahead of the election cycle, but maintained that these challenges are surmountable with discipline and cooperation.

“Our task now is execution,” Oyedele said.

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“This phase demands focus, consistency and accountability. That is the direction we are pursuing he added

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FCT minister Wike engages teachers over strike(Video)

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The Federal Capital Territory FCT minister Nyesom Wike is presently holding a meeting with primary school teachers in the Territory over ongoing strike.

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