The National Bureau of Statistics (NBS) has reported a significant increase in the average retail price of petrol in June, with a litre now costing N750.17. This represents a 37.44 percent year-on-year increase from the N545.83 recorded in June last year.
However, compared to the previous month (May 2024), the average retail price decreased by 2.53% from N769.62. The NBS report also revealed that Benue State had the highest average retail price for petrol at N854.55, while Lagos, Kwara, and Ogun States had the lowest average retail prices at N626.94, N650.00, and N670.63 respectively.
The South-South Zone had the highest average retail price of N794.64, while the South-West Zone had the lowest price of N696.42. Meanwhile, the Nigerian National Petroleum Company (NNPC) Limited has attributed the recent petrol scarcity in parts of Lagos and Abuja to the disruption of ship-to-ship transfer of petrol due to thunderstorms and flooding of trucking routes.
In a grand ceremony marked by pomp and pageantry, the Olu of Agbowo, Oba Musibau Akande Gbenusola, celebrated his 1st year coronation anniversary. The event which was taken place on the 12th and 13th of July 2024, held in Agbowo, saw a gathering of dignitaries including the Executive Governor of Osun State, His Excellency, Governor Ademola Jackson Adeleke, the Owa Ajero of Ijero Kingdom, HRM Oba Joseph Adewole, other notable royal fathers, and distinguished personalities.
Meanwhile, Yoruba American Community YAC haas extended its congratulatory message to Olu of Agbowo, Oba Musibau Akande Gbemisola for his first year anniversary as well as other members of YAC that were elevated to chieftaincy positions.
Th felicitation message was contained in a statement made available to ODUDUWA NEWS by the President of Yoruba American Community, Prince Kolawole Akinyode as read in part:
“The celebrations were not only a reflection of Oba Musibau Akande Gbenusola’s remarkable leadership but also included the installation of new chiefs, many of whom are prominent members of the Yoruba American Community. This installation highlighted the strong ties and enduring cultural heritage between the Yoruba diaspora and their homeland.
“The Yoruba American Community extended their heartfelt congratulations to their newly installed members and to Kabiyesi, Oba Musibau Akande Gbenusola. The community, in a release signed by the President, Prince Kolawole Akinyode, and the Public Relations Officer, Amb. Omolara Williams, thanked HRM Oba Musibau Akande Gbenusola for honoring the Board Members of the community with chieftaincy titles. They prayed for a peaceful reign for the king.
“Dr. Temitope Omotayo, the CEO of WGT Media who is also the immediate past president of the community, described Kabiyesi’s gesture as unprecedented in the history of the community. The occasion underscored the unity and strength of the Yoruba community, both locally and internationally, celebrating a year of progressive leadership and cultural pride under the reign of Oba Musibau Akande Gbenusola.
Among the newly installed chiefs who are members of Yoruba America Community were:
Prince (Dr.) Adelekan Kamilu Adeleke – Baba Oba of Agbowo Kingdom
Prince (Dr.) Adelekan Kamilu Adeleke – Asiwaju of Agbowo Kingdom (Ilu: Iwo)
Yeye Christy Adeleke- Yeye Oba of Agbowo Land.
Yeye Taiwo Bunmi Adeleke – Yeye Asiwaju of Agbowo Land.
Chief Sunday Ishola Omoyele – Otun Oba of Agbowo Land.
Chief ( Mrs) Monisola Anike Omoyele – Yeye Otun Oba of Agbowo Land.
Chief Thomas Ayodeji Da-Silva – Aare Akogun of Agbowo Land.
Chief ( Mrs.) Taiwo Ifelola Da-Silva – Yeye Bewaji Okin of Agbowo Land.
Chief Ayodele Ali-Owe – Agbaakin of Agbowo Land.
Chief ( Mrs.) Asabi Oluwakemi Alli-Owe – Yeye Agbaakin of Agbowo Land.
Otunba Akinsola Oluwole – Apesin Ola of Agbowo Land.
Erelu Nihinlola Oluwole – Yeye Apesin Ola of Agbowo Land.
Chief Yisau Ogunleye – Asoju Oba of Agbowo Land.
Chief ( Mrs. ) Ogunleye- Yeye Asoju Oba of Agbowo Land.
It is an event that will be remembered for a long time”.
President Bola Tinubu has approved N70,000 minimum wage for Nigerian workers with promise to review the national minimum wage law every three years.
President Tinubu also promised to find ways to assist the private sector and the sub-nationals to pay the minimum wage.
President Tinubu announced the decisions at the meeting held with leaders of TUC and NLC on Thursday in Abuja, the second time the parties met in 7 days.
The Labour leaders applauded President Tinubu for the fatherly gesture as the President also promised to use his discretionary powers meet the demands of university unions demanding unpaid 4 months salaries.
The Oyo State Anti-Corruption Agency (OYACA, has vowed to investigate and see to the prosecution of any local government Chairman that is accused of corrupt practices in the State.
This is in response to questions from journalists by the Chairman of OYACA, Justice Eni Esan (rtd) on the roles of the agency in curbing corruptive tendencies associated to the local government system and the general insinuations about possible mismanagement of funds by the council Chairmen.
Recall that the Supreme Court recently gave judgement that called for direct payment of Local Government allocation to their respective accounts.
Eni Esan, who spoke at a sensitization programme on the Roles of Stakeholders in Thr Fight Against Corruption, organized by the agency for Directors of Ministries, Directorate and Agencies (MDAs) of Oyo State Government at Ibadan on Thursday, stated that her OYACA poised to look into any petition against any local government Chairman, forwarded to the agency, investigate and bring the culprit to book.
“OYACA will look into any petition and bring whoever is guilty to book, whether the person is a Local Government Chairman or a member of the council administrators, whatever position the person is holding, OYACA is no respecter of persons.
“We have investigated the highs and the mighty, so it doesn’t make any difference to us, once there is an allegation of corruption, we are backed by law to bring the perpetrators to book, either by taking them to court to indict them or we advise the Civil Service to invoke its rules to punish the perpetrators if they are Civil servants.”
She added that the agency has spent much efforts on preventive measures to nip corruption in the bud with the use of orientation, sensitization and advocacy approaches to bring every sector of the society into terms with the effects of corrupt acts in the State.
The retired Justice maintained that the approach has helped to prevent corrupt practices, as people’s mindsets has changed for better, knowing the consequences of the act from the advocacy programmes.
“Sensitization is a huge part of nipping corruption in the bud, like what you just witnessed at this event where Directors of MDAs were sensitized about what corruption is, its effects on the State’s economy and the society, the punishment that await perpetrators as well as roles they can play to prevent corruption.
“We have been doing this all over the State, so it is not business as usual, as the psyche of the people has changed, their mindset has changed, people who wanted to engage in corruption, when they listen to us, they change their minds.”
The sensitization event was witnessed by Board and management members of OYACA like among whom are Deaconess Afe Olopade, a board member, Barrister Tijani I. O, the agency’s Executive Secretary, Mrs Folasade Ajibade, Director Information and Technology, Mr Lere Omotoso, Director Administration and Supply as well as Mr Akindele Azeez who is the Director, Finance and Administration.
The Ooni of Ife, Oba Adeyeye Ogunwusi has reacted to the viral news claiming he swindled a US based woman of $180,000 in a romance scam.
The statement to debunk the news was made known to newsmen through the Palace Spokesman, Otunba Yera Olafare as read in part:
“The Palace of the Ooni of Ife is not unaware of a trending fake news about one Ms Fagbule purportedly swindled of 180,000 dollars allegedly by our father; Arole Oduduwa Olofin Adimula, Ooni Adeyeye Enitan Ogunwusi, CFR, Ojaja II, The Ooni of Ife.
“It is worrisome the level at which ladies have been making themselves victims of marriage frauds on internet despite our several warnings to the general public particularly ladies whose ultimate ambition were to become queens of the Ooni by all means to beware of the internet marriage proposal scammers who could only capitalize on their gullibility driven desperation.
“Even though it is not in our tradition to respond to fake news like this posted and promoted by a criminal faceless source through a Twitter (Now X) account, it has become so imperative this time around to make this response for necessary clarifications in order to calm the inundation of the genuine concerns expressed by subjects, friends and lovers of the Ooni globally on this matter.
“The following assertions are hereby made for necessary clarifications:
“That the news as posted by a Twitter (now X) handle called “99% OPPRESSED” is fake, untrue and absolutely an unfounded allegation only adopted as a nugatory character assassination tactic aimed at achieving a cheap popularity with a view to drawing huge followers/traffic for avaricious monetization from Twitter (X).
“That the so called Mrs Fagbule was and is never known to the Ooni of Ife for any interpersonal communication or relationship whatsoever, talk less of being so promised with a marriage proposal.
“That Ooni Adeyeye does not operate any Facebook account personally. He runs the palace as an institutional organisation with a functional media directorate which has a section that operates his social media handles; Instagram, Facebook etc.
“That If truly the lady so mentioned as Ms Fagbule is from Osun State or Ile-Ife in particular, why didn’t she come to the palace to meet Ooni in person throughout their co called relationship?
“That, rather than taking her matter to the appropriate agencies like EFCC and the Police for professional investigation which could have adequately helped her, she chose to make it a social media brouhaha.
“That, if, for whatever reason she had preferred social media and human rights platforms to the Police and EFCC who are so professionally trained, shouldn’t she have engaged a credible mainstream media organisation; Print and Electronic, or consulted credible Human Right crusaders like CDHR, Femi Falana Chambers and their likes in the country who undoubtedly pocess qualities of a tested capacity and passion for applying principles of justice and fairness in their efforts of thorough investigation in any matter of injustice against the oppressed. She rather chose an unscrupulous faceless Twitter (X) handler who is not identified beyond “99% OPPRESSED”.
“That the said letter of marriage proposal so paraded on the Twitter (X) handle of the so called “99% OPPRESSED” alleged to have emanated from the Ooni is a fabrication of lies from the pit of hell, as the Letterhead used for the letter does not reflect the originality of our official letterhead used at the palace for official correspondences. And that the body of the letter does not grammatically reflect Ooni’s personally signed letters in any way.
“That, with the Ooni’s status in wealth, business success, philanthropy and highly revered royalty, to allege or even suggest that he would be collecting money from any lady for travel expenses and others in exchange for marriage with a huge portfolio of billions of Naira being handled by Ooni Ogunwusi for humanity can only be viewed by reasonable people in the society as a figment of the imagination of Mrs Fagbule and her social media Messiah.l (99% Oppressed).
“That if the lady truly has a genuine case of marriage proposal fraud against anyone wether or not it affects the name of the Ooni, she is hereby invited to the palace in Ile-Ife to physically meet the Ooni for his fatherly assistance with the help of the Law enforcement agencies to uncover the perpetrators of this inhuman crime against her helping her in cracking down the fraudster who had wickedly defrauded her as we have had so many cases so successfully handled in the past.
“For the umpteenth time, the Ile Oodua Palace of the Ooni of Ife wishes to advise all persons globally to be carefully conscious of their engagements particularly in the social media as the Ooni does not interface with anyone via the internet/social media or appoint proxies to do so. Contrary to the fake letter being dangled as evidence in the media, the Palace’s letterhead is unique and familiar to corporate bodies, personalities, other recipients and prospective recipients alike, with the Ooni’s signature as the “Arole Oduduwa Olofin Adimula” and not “His Imperial Majesty”.
Thousands of students at the University of Ibadan have protested against a hike in school fees and other issues.
As early as 8 a.m., the visibly angry students moved in large numbers to all the entrances of the institution and blocked them.
Both academic and non-academic staff were locked outside the gates.
After blocking all the entrances, they moved from one faculty to another to ensure that academic activities were totally paralysed.
The students who warned sternly that there should be no video recording of the protest explained that the school management has not been fair to them.
Some of them who spoke with Vanguard said three issues compelled them to troop out.
A male student said, “We are protesting against injustice and insensitivity of the state school authorities to our plight.”
“You can imagine the authorities saying they will be shedding power henceforth, which means there are days we will be in darkness. How do they expect us to study?”.
“Secondly, they have hiked school fees astronomically to an unimaginable proportion. Do they want us to abandon our studies? Our parents are saying there is no money. Even feeding is difficult and we are still trying to wriggle out of this they are bringing hike in tuition fees. We cannot take this any longer. Enough is enough”.
“The third issue is the victimization of some of our colleagues who protested last time. The police have arrested them and up to now, they are still being detained for saying no to injustice. They are hurting us and they don’t want us to complain.”
Three female students who are in science said the situation is worse for them as they have to pay through their noses.
One of them said when she gained admission, she paid around N78,000 but now she is asked to pay over N300,000; some are paying N200,000.
The event disrupted the early take-off of a programme scheduled for 10 a.m. at the Department of Economics, CBN Hall.
The students went to the premises and shut all the gates, while a few staff members who managed to trek from the gates scampered for safety.
Southwest Nigeria pulsates with entrepreneurial energy. From bustling marketplaces like Agbowo Market in ibadan, Bodija market ibadan, idumota in the land known for its excellence, Sasa market in Osogbo and myriads of SMEs to the high-tech startups in Lagos, SMEs (Small and Medium-sized Enterprises) are the backbone of the region’s economy. But what does it take to succeed in this vibrant yet challenging landscape? Let’s delve into the opportunities and hurdles faced by SMEs in southwest Nigeria, drawing inspiration from local success stories and offering valuable insights for aspiring entrepreneurs.
Access to Finance: Securing funding remains a major roadblock for SMEs in Southwest Nigeria. Despite the critical role these enterprises play in driving economic growth and job creation, they often struggle to obtain the necessary financial resources . High-interest rates imposed by banks and financial institutions make borrowing expensive and almost impossible. Additionally, the loan application process is often cumbersome and bureaucratic, discouraging many small business owners from even attempting to secure funding. This lack of access to affordable finance can stifle growth, prevent expansion, and limit the ability to invest in new technologies or hire additional staff. For many SMEs, the financial barriers become insurmountable, leading to stagnation or even business failure. Click here to learn more: ResearchGate: Challenges to Nigerian SMEs – Expert 1 (SMEDAN South-West Director viewpoints) Infrastructure Constraints: The operational efficiency of SMEs in Southwest Nigeria is severely hindered by poor infrastructure. An unreliable power supply is one of the most significant issues, as frequent power outages disrupt production schedules, increase operational costs due to the need for alternative power sources like generators, and reduce overall productivity . Moreover, poor transportation networks complicate the logistics of moving goods and services, both for sourcing raw materials and delivering finished products to markets. Inadequate access to modern technology further exacerbates these challenges, as it limits the ability of SMEs to adopt efficient business practices, engage in e-commerce, or utilize advanced manufacturing techniques. These infrastructure constraints collectively pose significant obstacles to the growth and competitiveness of SMEs in the region .
Limited Business Skills: A significant barrier to the growth of SMEs in Southwest Nigeria is the limited business skills among entrepreneurs and their staff. Many small business owners lack formal training in critical areas such as marketing, finance, and human resource management . This skill gap can result in poor business planning, inadequate financial management, ineffective marketing strategies, and suboptimal human resource practices. Without the necessary skills, SMEs struggle to innovate, attract and retain customers, manage their finances efficiently, and expand their operations. Investing in business education and training programs tailored to the needs of small business owners could help bridge this gap and unlock the growth potential of SMEs in the region . Opportunities Abound: Large Market: Nigeria boasts a massive population with a growing middle class, presenting a vast potential customer base for innovative products and services . (Click to learn more: https://www.nigerianstat.gov.ng/) Government Initiatives: The Nigerian government and regional bodies like the DAWN Commission offer various programs to support SMEs, including access to loans, training workshops, and business development services [5, 6]. (Cliick to learn more: https://dawncommission.org/) E-commerce Boom: The rise of e-commerce platforms provides SMEs with a cost-effective way to reach a wider audience. (Click to learn more: https://www.jumia.com.ng/) Cultural Richness: Southwest Nigeria’s unique culture fosters a thriving creative industry, with opportunities for businesses in fashion, music, and art. (Click to learn more: https://creativeconomy.britishcouncil.org/places/nigeria/). Venturing Beyond Ibadan: The entrepreneurial spirit extends throughout southwest Nigeria. Here’s a glimpse into some of the vibrant marketplaces you might encounter in different regions: Lagos: Home to the iconic Alaba International Market, a titan in the electronics industry. This sprawling complex caters to a global clientele, showcasing the scale and ambition of Lagos’s business scene. Abeokuta: Known for the Itoku Market, Abeokuta is famous for its rich cultural heritage. Itoku Market is the heart of the indigenous Adire textile industry. Adire is a traditional Yoruba fabric dyed in unique patterns, and this market is the go-to destination for both locals and tourists seeking these beautifully crafted textiles. The market also offers a variety of other goods, including traditional arts and crafts, making it a hub of cultural and economic activity. Osogbo: In Osogbo, the Ayegbaju International Market stands out as a major commercial center. This market is known for its diverse range of products, including agricultural produce, clothing, and household items. It serves as a vital trading post for the people of Osun State and beyond. The Ayegbaju International Market also plays a significant role in the local economy, providing livelihoods for numerous traders and artisans. Akure: Akure boasts the bustling Oba Adesida Market, which is a focal point of commercial activities in Ondo State. This market is renowned for its variety of fresh produce, grains, and traditional Yoruba spices. It is a key destination for both wholesale and retail buyers, and it plays an essential role in the food supply chain of the region. The vibrancy of Oba Adesida Market reflects the agricultural richness and trading acumen of the local populace.
Oyo: In Oyo, the Akesan Market, also known as the “king’s market,” is a historic and culturally significant marketplace. It is one of the oldest markets in the region and is famous for its wide array of goods, ranging from traditional clothing and jewelry to local foodstuffs and crafts. The market serves as a central point for trade within the ancient town and attracts buyers and sellers from neighboring areas, maintaining its reputation as a vital economic hub. These marketplaces highlight the dynamic and diverse nature of commerce in Southwest Nigeria, reflecting the region’s rich cultural heritage and entrepreneurial spirit.
Writer: JEREMIAH SOLOMON JONATHAN EMAIL: digitaljerry246@gmail.com
The Central Council of Ibadan Indigenes (CCII) has announced plans to host 2024 Amala Day and Fuji Festival, a celebration of Ibadan’s rich cultural heritage.
The event, scheduled to take place on 24th July 2024, promises to be a vibrant showcase of the city’s unique traditions, music, and cuisine.The festival will kick off with an opening prayer, followed by the recitation of the Ibadan Anthem and recognitions.
The President-General of CCII, Chief Barr Sulaiman Ajeniyi Ajewole, will deliver the opening speech, while the Chairman of the 2024 Ibadan Cultural Festival Week, Balogun Gaphar Ojetola, will give a welcome address. The Chairman of the Occasion will then declare the program open.The highlight of the event will be the “Taste of Amala” segment, where distinguished guests, including the President-General, the 2024 Ibadan Cultural Festival Chairman, and the Chairman of the Occasion, will savor the delicious Ibadan delicacy, Amala.
The FUMAN music group will provide entertainment throughout the event, with performances before and after the “Taste of Amala” segment. The Royal Father of the Day is His Excellency, the former Governor of Oyo State, Agba Oye Rasheed Adewolu Ladoja.The Special Guest of Honour is the Deputy Governor of the State.Other distinguished dignitaries expected to grace the occasion include, Aare Onibon Balogun, Chief Taofeek Adegboyega Adegoke, Chairman/CEO of Solution FM and many other esteemed guests.The festival will also feature decorations, donations, and an appreciation of sponsors and donors. Remarks will be given by Chef Mrs Idowu Olaide Lawal GAIC, followed by a grand finale of music and entertainment.Awardees for this year are; Alhaji Rasheed Ayinde Merege, Alhaji Tajudeen System, Alhaji Taye Adebisi Currency, Alhaja Amudalat Iyadunni, President Food Vendors Oyo State, Alhaji Omolewa Tomiwa , PMS Chairman Oyo State and Head of Hair Beauticians Oyo State.
The event will feature a cultural display at Mapo Hall, showcasing a variety of food options until noon. The grand finale will take place at Ibadan House, Oke Àrèmo, where the awardees will be honoured for their contributions to the community.The Amala Day and Fuji Festival promises to be a memorable celebration of Ibadan’s cultural heritage, promoting unity and pride among the people of Ibadan.Mark your calendars and join the celebration
The Nigeria Labour Congress (NLC) has warned of a one-month nationwide strike if the National Assembly passes a law allowing state governors to determine the minimum wage.
NLC President, Comrade Joe Ajaero, raised the alarm at the 2024 NLC Rain School in Uyo, Akwa Ibom state capital, on Monday. Ajaero accused the National Assembly of planning to move the minimum wage from the Exclusive legislative list to the Concurrent list, allowing governors to set wages.
He vowed that labour movements will be halted for one month if the law is passed, stating, “We are not troublemakers, but we will resist any attempt to remove the minimum wage from the Exclusive list.”
Ajaero also demanded that federal lawmakers and governors be subject to the minimum wage, questioning why leaders are bent on cheating workers amid current hardships.
Yoruba Nation agitator, Sunday Adeyemo, more commonly known as Sunday Igboho has issued a fresh warning to all Fulani herders suspected to be involved in several killings and abductions of residents in Oyo State.
The notice was announced by his spokesperson, Oluyomi Koiki in an audio message made available to SaharaReporters on Monday evening.
According to Koiki, Igboho has arranged his men to storm some forests in Oke-Ogun areas of Oyo State and flush out all Fulani herders living there.
The Yoruba rights activist mentioned that the herders were allegedly involved in contestant abductions and killings of Oke-Ogun residents.
Speaking in Yoruba, Koiki said, “Today is the 15th of July, 2024. This breaking news is issued around 6pm. All Fulani people living in Oke Ogun, living inside the bushes there, who are kidnappers, that are killing the people, are immediately ordered to leave now. Sunday Igboho said he would continue his work at Oke-Ogun, in Kishi and all communities that made up of Oke-Ogun. He said he would touch all those places remaining.
“All Fulanis should leave the bush in Oke-Ogun. The forest does not belong to you. The land belongs to us. He added that he is also waiting for the Obas in other parts of Yoruba land to speak up if they are witnessing attacks from Fulani people.
“He said he was ready to chase them away. He promises to flush all those miscreants preventing Yoruba from accessing their farms. He said he is not fighting with any governor, but he said his men would storm all the forests presently occupied by herders across the Yoruba lands but he is waiting for permission from other Obas in Ondo, Ogun, Ekiti, and Osun states.”
“He said his men are currently working on how to storm the forest in Oke Ogun land in Oyo State and warn all Fulani living there to vacate immediately,” Koiki added.
