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Former President Olusegun Obasanjo said on Saturday in Lagos that Mrs Folorunsho Alakija, Africa’s richest woman by Forbes reckoning, was among the 25 billionaires he made during his tenure as President.

Obasanjo stated this at the 2016 Tony Elumelu Foundation Entrepreneurship Forum.

The former president was reacting to an allegation by Alakija at the event, that the Obasanjo administration frustrated her effort when she ventured into oil business.

Alakija, who spoke before Obasanjo, alleged that his administration illegally took an oil block allocated to her company after her family had invested all its savings to strike oil in commercial quantity.

“This oil block is in 5000 feet depth of water and was extremely difficult to explore.

“It took 15 years from the time that we were awarded the licence in 1993 till 2008 when we struck the first oil

“When this event happened, 60 per cent out of our 60 per cent equity in the business, was forcefully taken from us by the government of the day without due process.

“We had to fight back by going to court to seek redress and it took another 12 years for justice to be served in our favour.

“In all those years it was my trust in God, my perseverance and the support of my family that got me going,” she said.

She used her experiences to charge the 2000 budding entrepreneurs at the event to be dogged, determined and not to give up in the face of challenges.

When Obasanjo spoke, the former president seized the opportunity to reply to the allegation by Alakija.

“There is a saying in my part of the world that when a proverb touches you and you failed to reply, then you are a coward,” he said.

Obasanjo explained that the action of the government then was in line with the Mining Act, which regulates oil prospection and exploration.

“For you to come here and say that, for no cause whatsoever, you were denied what was rightfully yours, is not fair.

“I do not know you from Adam and there is no reason I would have denied you what rightfully belonged to you.

“So, you have struggled, and you have struck oil. God bless your heart.

“My delight is to be able to create Nigerian billionaire and I always say it that my aim, when I was in government was to create 50 Nigerian billionaires.

“Unfortunately I failed. I created only 25 and Madam, you are one of them,” he said.
Obasanjo hailed the vision of Mr Tony Elumelu for helping to build African young entrepreneurs with his resources.

He also urged the government to create conducive environment for people to move businesses into the country.

The former president urged government to relax its visa policy and company registration process to encourage investors.

He said the government should create certification centres in the country for easy exportation of agro processed products.

BIG STORY

President Tinubu Appoints Abiola’s Son Jamiu SSA On Linguistics, Foreign Matters

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President Bola Tinubu has approved the appointment of Jamiu Abiola as the Senior Special Assistant to the President on Linguistics and Foreign Matters.

Abiola is one of the children of the winner of the 1993 presidential election annulled by General Ibrahim Babangida, the late Chief Moshood Abiola.

He was previously appointed as the Special Assistant to the President on Special Duties in the Office of the Vice-President.

In a statement on Wednesday by the Director, Information and Public Relations, Office of the Secretary to the Government of the Federation, Segun Imohiosen, Abiola’s appointment takes effect from November 14, 2024.

Imohiosen stated that the appointment aligns with the provisions of the Certain Political and Judicial Office Holders (Salaries and Allowances, etc) Act 2008, as amended.

He said, “President Bola Ahmed Tinubu has approved the appointment of Jamiu Abiola as the Senior Special Assistant to the President on Linguistics and Foreign Matters.

“The appointment takes effect from 14th November, 2024. This is in line with the provisions of the Certain Political and Judicial Office Holders (Salaries and Allowances, etc) Act 2008, as amended.

“Until his appointment, Jamiu served as the Special Assistant to the President on Special Duties in the Office of the Vice President.

“President Tinubu tasks the appointee to work closely with the Federal Ministry of Foreign Affairs and bring his wealth of experience to bear in his new assignment.”

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BIG STORY

Senate Passes Bill For Ijebu State Creation For First Reading

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The Nigerian Senate on Tuesday passed a bill for the creation of Ijebu State, marking the first reading of the proposal during its plenary session.

The bill, which seeks to establish Ijebu as an independent state, was sponsored by Senator Gbenga Daniel, representing Ogun State.

Titled the “Constitution of the Federal Republic of Nigeria (Sixth 1 Alteration) Bill, 2024 (Creation of Ijebu State),” the proposed legislation aims to carve out Ijebu from the current Ogun State.

The bill was introduced by Senate Majority Leader Michael Bamidele of the All Progressives Congress as the “fourth order of the day” during the plenary.

After reading the title of the bill, Senate President Godswill Akpabio moved the proposal forward, passing it for its first reading and setting the stage for further legislative processes.

The bill will now undergo a series of discussions and evaluations before it can proceed to the next stages of approval.

The push for the creation of Ijebu State is part of a broader national discourse on the need for more state creation across Nigeria, particularly in regions where there are growing demands for administrative autonomy.

If the bill successfully progresses through the required legislative procedures, Ijebu, currently a part of Ogun State, could become a separate state with its own governance structures.

This development comes amid increasing calls for state creation in various parts of the country, with proponents arguing that new states could better address local needs, foster economic growth, and enhance political representation.

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BIG STORY

Alleged N110bn Fraud: Court Adjourns Yahaya Bello, Other’s Bail Ruling To December 10

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The Federal High Court in Abuja has adjourned to December 10 for a ruling on the bail application by the immediate past Governor of Kogi State, Yahaya Bello, and two others.

Bello had pleaded not guilty to the 16-count charges brought against them by the Economic and Financial Crimes Commission.

The former governor, along with Umar Oricha and Abdulsalami Hudu, are being prosecuted as the 1st to 3rd defendants, respectively, in a fresh N110bn 16-count charge instituted against them by the EFCC.

Bello, the 1st defendant, vehemently denied the allegations before Justice Maryanne Anenih as they were read out to them.

After taking their plea, the Defendant’s Counsel, Joseph Daudu, moved an application for bail.

However, the EFCC Counsel, Kemi Pinheiro, opposed the application, arguing that it had expired in October.

Clarifying the issue, the Defendant’s Counsel stated that the only relevant application before the Court was the motion for bail in respect of the first defendant, which was filed on November 22.

Relying on all the paragraphs of the affidavit, he added that the bail application was also supported with a written address.

Justice Anenih ordered that the defendants be remanded in the custody of the EFCC.

The EFCC had filed an N110bn alleged fraud suit against the former governor.

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