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We Are Ready To Partner With Investors, DISCOS For Sustainable Power — Sanwo-Olu

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Babajide Sanwo-Olu, Lagos State Governor, has expressed his administration’s readiness to partner with would-be investors and distribution companies (DisCos) on sustainable power in the State.

He said his administration will continue to collaborate with investors to improve power generation, transmission, and distribution in the State, ensuring that quality power supply is provided for Lagos residents.

Governor Sanwo-Olu spoke on Wednesday during a courtesy visit by the Board of Eko Electricity Distribution Company (EKEDC) and its investor group, WPG, at Lagos House, Marina. The team was led by the Chairman, Board of EKEDC, Mr. Dere Otubu.

Sanwo-Olu, who noted that both the public and private sectors involved in the provision of electricity to consumers cannot give reasons for lapses, expressed worry that so much money had been invested in the sector and charged the Distribution Companies (DisCos) to get it right for economic activities to take a positive shape.

Lagos State Commissioner for Energy, Mr. Lere Odusote, who gave a brief on the State’s plan for the Energy sector, said the administration had mapped out a Universal Electricity Supply plan on the short, medium, and long-term basis aimed at improving transmission and distribution of power.

He said there is a plan to create a One-Stop Shop in the Lagos State Ministry of Energy for easy access.

Speaking earlier, the Chairman Board of Eko Distribution Company, Dere Otubu, who commended Governor Sanwo-Olu for his developmental strides in Lagos State, and victory at the last general elections, said his company is seeking partnership with the State Government to improve power generation, transmission and distribution.

“We know and appreciate that Your Excellency (Governor Sanwo-Olu) recognizes the need to collaborate with NERC and necessary stakeholders to achieve the great goal of improving power supply to the citizens of Lagos State, hence, we urge your good administration to kindly work with all necessary stakeholders within the power sector to develop a very workable policy and legal regime for this to be achieved,” he advised.

Also speaking, the Managing Director of Eko Electricity Distribution Company (EKEDC), Dr. Tinuade Sanda, noted that it was necessary for her organization to re-establish a relationship with Lagos State Government for a smooth operation forthwith.

Sanda, who emphasized the need for a good working relationship with the Lagos State Government, applauded the roles played by the Babajide Sanwo-Olu administration in ensuring legislation that backs the decentralization of power in Nigeria.

She also commended Governor Sanwo-Olu for gender balance government by being deliberate in his appointment of many females into the State Executive Council, as well as heads of Ministries, Departments, and Agencies (MDAs) in Lagos State.

BIG STORY

UPDATE: Uncover Negligence, Deliberate Actions Behind Ibadan Stampede — Tinubu To Security Agencies

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President Bola Ahmed Tinubu has ordered an investigation into the incident at the children’s funfair in Ibadan, which resulted in the death of 35 persons.

In a statement issued on Thursday by Bayo Onanuga, his special adviser on information and strategy, the president called for a “thorough” inquiry to determine whether negligence or deliberate actions contributed to the stampede.

“In this moment of mourning, President Tinubu stands in solidarity with the affected families and offers prayers that the Almighty God will grant peace to the souls of those who have departed in this unfortunate event,” the statement reads.

“President Tinubu has urgently directed the relevant authorities to investigate the circumstances of this tragedy thoroughly. He emphasises that it is imperative to determine whether negligence or deliberate actions contributed to this painful incident, ensuring a transparent and accountable process.”

“The President urges the Oyo State Government to take every necessary measure to prevent such a tragedy from reoccurring.

“Among the essential actions are a comprehensive review of all public events’ safety measures, strict enforcement of safety regulations, and regular safety audits of event venues.”

The president also called on event organisers to prioritise the safety of all attendees, especially children.

He noted the importance of integrating professional security, protocol, and logistics at events to ensure the safety of all participants.

“Our children’s safety and well-being remain paramount. No event should ever compromise their safety or take precedence over their lives,” he added.

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BIG STORY

2025 Budget Proposal Scales Second Reading At National Assembly

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The 2025 appropriation bill has passed the second reading at the national assembly.

The budget cleared the second reading during plenary on Thursday following an extensive debate by legislators in the Senate and the House of Representatives.

On Wednesday, President Bola Tinubu presented a record N49.7 trillion as the proposed budget for 2025 to a joint session of the upper and lower legislative chambers.

The lawmakers, during plenary on Thursday, took turns discussing the general principles of the money bill, offering recommendations that included thorough scrutiny of the budget breakdown during engagements with heads of ministries, departments, and agencies (MDAs).

Leading the debate, Julius Ihonvbere, majority leader of the green chamber, said the budget would improve the nation’s economy and consolidate the achievements of the president.

In his debate, Kingsley Chinda, minority leader, said Tinubu’s assertion that the budget would reduce inflation from the current 34.6 percent to 15 percent is “ambitious” and not realistic.

The ranking lawmaker said the allocation of N4.91 trillion to defence and security “will not take us to the promised land.”

He added that the budget should also prioritize human capital development and environmental sustainability.

“The budget might appear very beautiful, but there is much more for us to do as a nation,” Chinda said.

‘2025 BUDGET IS INADEQUATE’

Oluwole Oke, a Peoples Democratic Party (PDP) member from Osun, stated that the budget is “grossly inadequate” and won’t sufficiently fund development projects.

Abdussamad Dasuki from Sokoto supported Oke’s position, describing the budget as inadequate.

“The budget may look robust on paper, but if you convert it to dollars, you will realize that the budget is not where we should be,” he said.

“With the challenges we have, if you convert it to dollars, the nation will be inadequately provided for. I urge the relevant committees, particularly the committee on finance, to work on this.”

Also speaking, Ismaila Dabo from Bauchi called for an increased allocation to the agricultural sector to boost food production.

“Inflation is on food items, and Nigerians are finding it difficult to cope. I urge the house to do everything possible to ensure enough allocation is reserved for agriculture,” he said.

Some lawmakers from the north-east and south-east geopolitical zones demanded more funding for their development commissions.

The lawmakers unanimously voted in support of the bill when it was put to a voice vote by Benjamin Kalu, the deputy speaker, who presided over the session.

Kalu referred the bill to the committees on appropriation for further legislative work.

He said the bill will be passed before January 30.

In November, both chambers approved the 2025-2027 medium-term expenditure framework (MTEF) and fiscal strategy paper (FSP) of the federal government.

The parliament passed the oil benchmark prices of $75, $76.2, and $75.3 for the daily crude oil production of 2.06 million, 2.10 million, and 2.35 million for the 2025-2027 fiscal years respectively.

Also, the national assembly maintained the gross domestic product (GDP) growth rate projected at 4.6 percent, 4.4 percent, and 5.5 percent for the three years in the fiscal strategy paper.

The lawmakers endorsed the projected exchange rate of N1,400/$ but said it is subject to review in early 2025 according to monetary and fiscal policies.

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BIG STORY

JUST IN: Ooni’s Ex-Wife Naomi, 7 Others Arrested Over Children’s Funfair Stampede In Ibadan

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The Oyo State Police Command has announced the arrest of the ex-queen of the Ooni of Ife, “Naomi Silekunola”; the Principal of Islamic High School, Ibadan, “Fasasi Abdulahi”; and six others in connection with the deaths of several children during a stampede at a funfair in Ibadan, the state capital, on Wednesday.

The ex-queen was identified as the primary sponsor of the event.

Furthermore, the number of children who have died from the stampede has increased to 35, while six others are critically injured, according to a statement issued on Thursday by the State Police Public Relations Officer, “Adewale Osifeso.”

The event, which was held at the Islamic High School, Basorun, Ibadan, was intended for 5,000 children, but reportedly over 7,500 attended.

 

More to come…

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