₦airaland Forum

A landmark in Nigeria’s energy sector is set to go live as the 1250MW power plant spearheaded by Dr. Deji Adeleke, billionaire businessman, is now fully completed and ready for commissioning.

Adeleke, speaking on Sunday in Ede, Osun State, at the 11th undergraduate and 7th postgraduate convocation ceremonies of Adeleke University, said work has been completed on his 1250 megawatt power plant located in Ajebamidele, Ondo State.

According to the renowned businessman and Pro-chancellor, Adeleke University, the only step remaining is the connection of the power plant to the national gas grid.

“The powerplant is ready, I am only waiting to be connected to the gas grid to start generating power. That plant will employ over 2,000 engineers and other associated workers,” Adeleke said.

Once operational, it will rank among the largest power projects ever undertaken in Nigeria, marking a significant boost to the country’s electricity generation capacity.

This bold investment by Adeleke reflects renewed private sector confidence in Nigeria’s infrastructure space.

His 1250MW power plant also signals a major progress towards tackling the nation’s long-standing energy deficit.

SalamRushdie:
It was bought by Otedola I gather ..this 40 character thing sha

Companies said to been owned by Oba Otudeko and Tunde Hassan-Odukale have made history after they sold a total of 10.433 billion First Holdco shares to a relatively unknown company- RC Investments Management Limited, in a deal valued at N323.45 billion,

This development is the highest off-market transaction ever seen on the NGX.

According to the report by a business medium, the buyer company is linked to one Samuel Babatunde Sule. Sule’s RC Investment acquired approximately 7.787 billion shares from Barbican Capital and RAML, entities associated with Oba Otudeko.

RC Investments also bought 2.647 billion shares from entities related to the former chairman of First Bank of Nigeria, Tunde Hassan-Odukale. The entities include Hassan-Odukale himself, Leadway Holdings, Leadway Pensure PFA, Haskal Holdings, and Leadway/NNPC Staff Pension Investment.

Hassan-Odukale is the founder of Leadway, as well as the Group Managing Director of Leadway Holdings.

Sule also has ties to four other companies, namely RC Africa Limited, Avuso Payment, Odde Properties, and Green Arrow Services Limited.

The sale was brokered by the CBN to help resolve a leadership tussle at the helm of the bank that has served as a major distraction for the bank’s capital raising plans.

“It’s ok for supporters to continue to say what they want to say, but they don’t necessarily represent the sentiments of people that they claim to support. And that’s why we say that for us in ADC, we are going to maintain strict internal democracy.

I still remain in labour party, coalition is for 2027 - Peter Obi.

I remain a member of labour party, I am not joining the coalition - Gov Otti

Meanwhile,

Stop threatening the coalition - ADC group to Peter Obi.

The Julius Abure-led Labour Party has disowned Friday’s National Executive Committee meeting of stakeholders of the party.

While describing the gathering as illegal, unconstitutional and of no consequence, the faction also warned Abia State Governor, Alex Otti, to desist from expending state resources on trivialities.

The factional National Secretary of LP, Umar Farouk, disclosed this in a statement issued in Abuja titled “Illegal NEC: Otti advised not to use Abia State resources on trivialities.”

Farouk reiterated that only the National Chairman and National Secretary have the constitutional backing to summon such a meeting.

“The attention of the leadership of the Labour Party has been drawn to yet another illegal gathering of some suspended members of the party parading themselves as members of the party’s National Executive Committee.

“Ordinarily, we didn’t think we should make any comment as regards this perennial jamboree since the meeting and its outcome are inconsequential, null and void”, the statement partly read.

Farouk was reacting to the call by Otti for Abure, another factional leader, Lamidi Apapa and other disgruntled members to tender a formal apology as a condition for their reintegration into the party.

The governor made the demand during the official inauguration of Senators Nenadi Usman and Darlington Nwokocha as interim National Chairman and National Secretary of the party, respectively.

Citing Articles 14(4)(b) and 13(B)(xii) of the party’s constitution, Farouk maintained that the so-called NEC held in Umuahia lacked legitimacy and was a direct violation of internal procedures.

“By the above provisions, every meeting convened by the suspended Governor of Abia State, Dr. Alex Otti, and the Caretaker Committee, being the product of the illegal Umuahia meeting, is unconstitutional and of no effect.

“It is important to note that there has never been any vacancy in the leadership of the Labour Party and there will not be any until 2028”, he said.

He also pointed to the April 4, 2025, Supreme Court ruling that urged all intra-party disputes to be resolved internally in accordance with the party’s constitution.

Farouk accused Otti of being out of touch with recent developments within the party, claiming many of his allies had since distanced themselves from his actions.

“Dr. Otti and his co-travellers must know by now that the train of the party has moved on and the party is focused ahead of the 2027 general election with or without them.

“Governor Otti is probably not aware that his flanks have been exposed as the majority of his combatants and leaders have deserted him and moved on. He is probably living in ignorance and in the past,” the statement continued.

The party, therefore, called on members to ignore the outcome of the meeting and urged the Abia State governor to focus on governance.

“We also urge the governor to channel the Abia State resources to providing basic infrastructure for the good people of the state rather than wasting resources chasing shadows,” the party concluded.

nairalanda1:
LOL...3.4 trillion naira.

Nigeria needs to get off oil. Once we do that, we can be sharing something like 50 trillion naira or more monthly, and it would be our money.

But people like Codetemplarr no see am. They want free fuel, and free subsidy.

Nigeria must remove apc and tinubu, and vote in a leader who will make us an industrial nation like china , korea and germany and japan. It is our only hope.

AMINDA:
Isn't this what Nigerians against subsidy removal have always been sceptical about? The governors have always embezzled funds and subsidy was the only direct benefit for most citizens. You take out benefits that previously acrued to the citizens and handed them over to the governors and then turn around to blame the citizens. What is the Federal government doing with its own share of the allocation?

President Bola Ahmed Tinubu will depart Abuja on Sunday to attend the eighth-day prayer ceremony for the late Awujale of Ijebuland, Oba Sikiru Kayode Adetona.

This was contained in a statement by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, on Friday.

“The President will join Governor Dapo Abiodun and other dignitaries at the event, which will be held at the Dipo Dina Stadium in Ijebu-Ode,” the statement read in part.

Oba Adetona passed away on July 13, 2025, at the age of 91.

The monarch’s death came as the country was still reeling from the passing of former President Muhammadu Buhari on Sunday.

His remains were laid to rest at his private residence in the Government Reserved Area, Igbeba, Ijebu-Ode, Ogun State.

Dignitaries, traditional rulers, political leaders, and residents paid their final respects in Ijebu-Ode on Monday to the ruler who reigned for 65 years.
The Janazah (Islamic burial prayer) was led by the Chief Imam of Ijebuland, Miftaudeen Gbadegesin Ayanbadejo.

Markets across the town were also shut as directed by the Ijebu-Ode Local Government Area Chairman, Dare Alebiosu, in honour of the departed king.

Putindbutt:
This is the eldest son testifying to Tinubu's closeness to the family. Tinubu is not a man to do eye service or accidental love like a certain Candidate does. President Tinubu has been very close to the high and mighty of the North right from the days of Shehu Yara'dua from the era of SDP.
Tinubu is not an accidental leader showing accidental love like someone from Agulu who suddenly drilling boreholes and breaking Ramadan fast with the Northerners after getting less than two thousand votes in the election 😂😂🤣. If it's not Panadol, it's not the same thing as Panadol.

He recalled that following the elder statesman’s passing, the President dispatched a high-powered federal delegation to Saudi Arabia, led by the Minister of Defence, to attend the funeral rites.

“This redevelopment will see the existing structure evolve into a five-storey, ultra-modern commercial complex to be known as the Awolowo Tech Mall. Given its strategic location along Obafemi Awolowo Way and its proximity to the bustling Computer Village, this hub is envisioned as a thriving magnet for technology firms, service providers, innovators, and entrepreneurs.

In its resolve to preserve its heritage and position its assets for relevance and value now and in the future, the Odu’a Investment Company Limited, OICL, is set for a significant milestone in real estate with the redevelopment of the famous Obafemi Awolowo House in Ikeja, Lagos, into a state-of-the-art Awolowo Technology Mall.

At the groundbreaking ceremony for the redevelopment of Obafemi Awolowo House, which took place Wednesday, at the site in Ikeja, the Group Chairman of Odu’a Investment, Otunba Bimbo Ashiru, described the project as a significant milestone achievement of the Odu’a Group.

In his address, Ashiru stated that the ceremony was beyond the launch of a real estate project, adding that,

“it marks another bold step in the strategic evolution of the Odu’a Group. It is part of our deliberate expression of our transformation agenda and our commitment to unlocking value from legacy assets through innovation, partnerships, and visionary thinking.”

While aligning Odu’a heritage with vision, he stated that the Obafemi Awolowo House, once a landmark of architectural excellence in the 1980s, “is now poised for a new era, reimagined as a modern technology hub that meets the demands of a fast-evolving digital economy.

“This redevelopment is a clear statement of our resolve to preserve our heritage, while positioning our assets for relevance and value in the current and future marketplace. Through this transformation, we are aligning our legacy with the future, ensuring that what was once iconic remains impactful.”

Ashiru further described the Awolowo Tech Mall project as Odu’a strategic asset optimisation in action, stating that:

“This project is the outcome of OICL’s strategic shift from passive asset management to proactive, value-driven real estate investment and under the leadership of our flagship real estate subsidiary, Wemabod Limited, and in joint venture with El-Salem Nigeria Limited, this initiative reflects the strength of our partnerships and the clarity of our investment direction.

“The Awolowo Tech Mall, when completed, will serve as a catalyst for commercial activity in the Ikeja Central Business District and a launchpad for youth innovation, business incubation, and technology-driven enterprise. It is, in every sense, a project that aligns with our investment philosophy—sustainable, inclusive, and impact-oriented,” he stated.

While disclosing the OICL’s recent Corporate Credit Rating Upgrade of the organisation, Ashiru said:

“I am also pleased to use this occasion to formally announce the recent upgrade of OICL’s Corporate Credit rating to “AA-” by Agusto & Co. The rating had moved from A to A+ and now AA-.


“This rating reflects the strong financial position, operational resilience, and sound governance structure that the Odu’a Group has consistently upheld. It is a testament to the confidence reposed in our strategic direction and reinforces our credibility in the eyes of our stakeholders, partners, and the financial markets. We are grateful to Agusto & Co. for their professionalism and rigour in the assessment process, and we remain committed to sustaining the standards and transparency that earned us this recognition.”

He expressed Odu’a commitment to purposeful development, positing that: “As Lagos State continues to pursue an ambitious and commendable urban regeneration programme, particularly within the Ikeja axis, we at OICL reaffirm our commitment to being a constructive partner in this journey.

“Our focus remains on developing projects that not only deliver financial returns, but also foster inclusive growth, urban resilience, and regional competitiveness.

“I commend once again, the leadership and teams at Wemabod Limited and El-Salem for their dedication to this project. Your professionalism and hard work exemplify the excellence that drives the Odu’a Group forward.

“Let this moment serve as a strong message: Odu’a is not only preserving its legacy, we are repositioning it with intelligence, foresight, and purpose.”

In the same vein, the Managing Director and Chief Executive Officer of OICL, Yinusa Abdurahman, noted the Obafemi Awolowo House has been an enduring symbol of innovation since its design by Towry Coker Associates in 1978.

“Featuring one of Nigeria’s earliest glass curtain walls, it became a hub for top-tier institutions and achieved 100 percent occupancy due to its strategic location and modern appeal. As urban infrastructure improves, development evolves and the use of land changes. Wemabod Limited, in partnership with El-Salem Nigeria Limited, is seizing the opportunity to reimagine this landmark. With new planning permissions and the repositioning of Ikeja’s Central Business District, we are transforming this historic site into a 21st-century digital and commercial powerhouse.”

He disclosed that the new Awolowo Tech Mall would more than double the commercial space from 4,800sqm to approximately 9,000sqm, adding that the expansion aligns with Wemabod’s strategic direction to increase market share and contribute meaningfully to the state’s economic development.

“It will be a smart, sustainable facility positioned to host leading technology firms, startups, and service providers; a future-forward ecosystem for innovation and enterprise. As a proud subsidiary of Odu’a Investment Company Limited, Wemabod continues to push boundaries in delivering landmark developments. This project reaffirms our commitment to real estate excellence, economic empowerment, and infrastructural transformation,” he stated.


While thanking the management and board of OICL for their support all the time, Abdurahman said:

“To the Board members of Wemabod Limited, we are grateful for creating needed enabling environments. I recognise the cooperation and commitment of staff members of Wemabod to this project and our development partner for believing in our vision. As we turn the first sod today, we are not just building blocks we are building opportunities. May this endeavour bring growth, prosperity, and lasting impact.”

In his remarks, the Chairman, Board of Directors, Wemabod Limited, the property arm of OICL, Nureni Oladipo Adisa, said the groundbreaking marked not just the start of construction work but the beginning of a new chapter in the enduring story of Wemabod Limited.

According to him, “The Awolowo House has long stood as one of our most iconic properties; a reflection of our rich legacy in Nigeria’s real estate space. However, legacies must evolve to remain relevant. And so, with this redevelopment, we are choosing to preserve our past by boldly transforming it to meet the future.

“This redevelopment will see the existing structure evolve into a five-storey, ultra-modern commercial complex to be known as the Awolowo Tech Mall. Given its strategic location along Obafemi Awolowo Way and its proximity to the bustling Computer Village, this hub is envisioned as a thriving magnet for technology firms, service providers, innovators, and entrepreneurs.

“By positioning this development at the intersection of commerce and technology, Wemabod is laying the groundwork for a space that nurtures ideas, fuels business, and contributes meaningfully to the digital economy of Lagos and Nigeria in general.”

Also, the Group Chairman of El-Salem Nigeria Limited, the construction company handling the project, Ben Gbade Ojo, said the project would be transformed by El-Salem Nigeria Limited, in partnership with Wemabod Nigeria Limited and the Oodua Group Limited, adding that the state-of-the-art technology and commercial hub would power innovation, creativity, and economic growth in Lagos, Nigeria, indeed West Africa and beyond

He told journalists that the project, “is more than just a mall. The Awolowo Tech Mall is envisioned more as a dynamic commercial ecosystem where tech firms, creative minds, entrepreneurs, and global brands can thrive. It is purposefully designed to promote innovation and digital enterprise, the facility also offers flexible spaces suited to a wide variety of business ventures.”