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Osun Community Gets Electricity First Time In 91 Years



…We’re ready to light up more communities in Osun – Sholep Energy Ltd

Araromi-Okeodo, a community in Ife-south local government area of Osun State now has electricity for first time in 92 years of establishment.

Founded in 1932, Araromi-Okeodo had been without electricity and many other basic amenities like pipeborne water and good roads.

According to the CEO, Sholep Energy Limited, Engr. Olalekan Adeleke Shogbesan, the World Bank Assisted project mainly financed by the company (Sholep) was underway in other eleven (11) different communities within Ife-south local government area of the State.

Engr. Shogbesan revealed that Araromi Oke-odo community was selected for the project based on its viability in terms of growing the business beyond expectation

He said the 50KWP Hybrid Solar Mini-Grid Power Plant which construction started in 2018 was enough to supply power to the entire community of Araromi Oke-odo for adequate electricity.

“It will power the whole community up to more than 700 houses because what they are using compared to what they have here, we’re still going to have a lot of leftovers and the way we see things when we started, they are just 634 metres as I am seeing it today it’s like we’re going to start another phase 2, ASCP because the community has become so big within a year.

“We came into this community, October 2018 and we found out that this community didn’t have electricity, access to clean water. We provide them 20,000 liter per day, 24 hours water supply and we will provide them uninterrupted power supply for the next 10 years”, engr. Shogbesan said.

At the inauguration of the project, the Osun State Commissioner for Energy, Adeyemo Ademola diaclosed that the government would extend the gesture to other communities in the State.

He said the government would give the company with necessary support to ensure that its business is protected.

The Alara of Araromi Oke-odo, Oba Abass Gbadamosi expressed happiness that the project came to fruition as many douted it when the company came to the community.

He promised that the community would cooperate with the company in all ramifications and protect its business interest.


Abass Okandeji
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BREAKING: BUA Cuts Cement Price To N3,500 Per Bag



BUA Group has announced a reduction of ex-factory cement price to N3,500 per bag.

In a statement on Sunday, the company announced that the new price will take effect from Monday, October 2, 2023.

The statement, titled ‘Reduce in Prices of BUA Cement’, reads: “We refer to our previous pronouncements regarding our intent to reduce cement prices upon the completion of our new lines at the end of the year, in order to spur development in the building materials and infrastructure sectors.

“As per the commitment made to reduce prices and following a periodic review of our operations for efficiency, the management of BUA Cement Plc wishes to announce and inform our esteemed customers, stakeholders, and the public that effective October 2, 2023, we have decided to bring the price reduction forward. As a result, BUA Cement would now be sold at an ex-factory* price of 3,500 Naira per bag so that Nigerians can begin to enjoy the benefits of the price reduction before the completion of our plants.

“Upon completion of the ongoing construction of our new plants, which would increase our production volumes to 17million metric tonnes per annum, BUA Cement PLC intends to review these prices further in line with our earlier pronouncements by the first quarter of 2024.

“NOTE: all pending, undelivered orders which had been paid for at the old prices will be reviewed downwards to N3500/bag in line with the new pricing from October 2, 2023. Our licensed dealers are also enjoined to ensure that end-users benefit from this reduction in ex-factory prices as we will monitor field sales to ensure compliance.”

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Nigeria to join the Guided Trade Initiative — Awolowo



…Nigeria is the biggest economy in Africa — Mohammed Ali

Foremost lawyer and former Executive Director of the Nigerian Export Promotion Council (NEPC) and Executive Secretary, National Working Committee, AFCFTA, Nigeria, Según Awolowo has said Nigeria is ready to join the second phase of the Guided Trade Initiative (GTI), African Continental Free Trade Area (AfCFTA) which is a solution-oriented approach that aims to facilitate trade between interested state parties by connecting businesses and products for export and import.

In a statement issued by the Head, Strategic Communications Directorate of the National Working Committee, AfCFTA; Mabel Aderonke, Awolowo in an engagement with the high delegation from AfCFTA Secretariat Ghana and other critical stakeholders on the participation of Nigeria in AfCFTA, highlighting the opportunities and benefits in the AfCFTA.

At the Senior Government Official Engagement on the Guided Trade Initiative (GTI), the former NEPC boss stated that enhancing trade between African countries will facilitate a structured approach to inter-African trade by addressing key challenges and trade barriers.

He pointed out that Nigeria’s committment to AFCFTA is very crucial in boosting the nation’s economic growth, noting that the alliance will make our economic goals and objectives broader.

“We reached a milestone in the first phase of the GTI. This successful pilot project has brought about positive development changes, capacity-building initiatives, and growth in the economy by impacting trade between Nigeria and other AFCFTA member-states.

“As we prepare to join the second phase, it is to demonstrate and strengthen specific obejectives and trade relations, particularly reducing trade barriers, streamlining custom procedures, ensuring infrastructure and promoting value-addition with key industries.”

Speaking further about Nigeria’s readiness to join the GTI, he observed that “Our readiness and eagerness to participate in the GTI is high, and this will be demonstrated when we have the large stakeholders meeting. The new administration with it’s Renewed Hope agenda, is focused on addressing challenges that hinder trade, such as improving logistics and transportation infrastructure. Simplifying customs procedures and strenghtening trade related institutions.

“The check list received from Ghana after the completion of the first phase requires the fulfilment of certain obligations, which Nigeria has began to process vigorously.

“The importance of this relationship is to yield greater results as it will foster a more holistic approach in addressing trade challenges and enhancing trade facilitation within the region.

“I strongly believe that Nigeria’s participation and collaboration with the AFCFTA Secretariat is a marriage.”

On his part, Director, Trade in Goods and Competition, Mr Mohammed Ali, stated that the agreement was signed in June 2019, noting that the AFCFTA is a big train on a journey with the biggest economy in Africa, which is Nigeria.

“The Heads of states and governments met virtually in 2021 and announced the commencement of the AfCFTA agreement. The AfCFTA is a very big train and it is a journey and this journey has leaders. The biggest leader is Nigeria, with the biggest economy in Africa. So any effort or step taken by Nigeria towards AfCFTA is two steps, one step for Nigeria, and one for the rest of the world. So that is really important.

“We have come to the conclusion that trade agreement and opinion market is not the end goal. The end goal is to have economic advancement and industrialisation. We use the market access as a tool to attract more funds and relations to build our economies,” he said.

In his address, Dr Evelyn Ngige, Permanent Sec, Federal Ministry of Industry, Trade and investment who was represented by Mr Suleman Audu, disclosed that GTI will integrate MSMEs into a bigger supply chain and they don’t have to start going through the process of obtaining facilities beyond their reach.

“As being part of a larger supply chain, MSMEs will grow and move from micro to big markets that many people would want to be a part of.”

Also speaking at the meeting was Mr John Nwajumogu, Special Adviser to the President on industry, trade and investment, he stated that while it is an ambitious target, “we understand the complexities around it, but they are summontable.

“The agreement will provide tangible vehicle to start instituting big changes. A trade agreement imposes certain requirement on you. As a leadership, you have to start domesticating it to make sure our laws are aligned. As a continent, we need it, it provides the cover for us to produce regional integration .Big economies in Africa must think about joining GTI, pilot out some of the challenges they may face”, he added.

Also present at the engagement was Mr Segun Olutayo, Lead, Trade Enablement, Secretariat of the National Action Commiittee, AFCFTA and other key government officials.

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