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Transgrid Buys 60% Stake in Eko Disco

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EKEDC Best Performing DisCo

By Adedapo Adesanya

Transgrid Enerco Limited will take over Nigeria’s second-largest electricity distribution company, Eko Electricity Distribution Company (Eko Disco), after completing a 60 per cent equity stake acquisition.

Transgrid is a consortium which includes North South Power Company Limited (NSP), Axxela Limited, and the Stanbic IBTC Infrastructure Growth Fund (SIIF).

The share purchase agreement (SPA) for the proposed acquisition was signed on Tuesday, January 21, 2025, and the transaction will be completed in April 2025.

Earlier this month, West Power and Gas Ltd (WPG), the parent company of Eko DisCo, was reportedly close to selling its entire stake after the North-South Power, Axxela, and Stanbic Infrastructure Fund consortium won the bid to acquire it.

The monetary term of the deal was not disclosed but industry experts say it is over $200 million.

The play is a positive for the consortium as NSP and Axxela Limited are in the energy sector and Stanbic IBTC is making increased play to diversify its businesses.

NSP which owns Shiroro Dam will get direct control and insight into EKEDC’s operations enabling it to have a clear scope of the company’s cash flow distribution.

While Eko Disco meets remittance obligations to the market, the inability of other Discos to meet these obligations means that power-generating companies like NSP do not get their full payments.

This acquisition allows NSP to have better control of how the company collects payment.

This could also influence other Discos to employ more efficient payment collection tactics.

This extends the recent trend of electricity-generating companies buying distribution companies after a Transcorp-led Consortium, which owns the Ughelli Power Plant, acquired a 60 per cent majority stake in Abuja Disco in 2023.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Ojulari Vows to Consolidate on Mele Kyari’s Legacy

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Bayo Ojulari Mele Kyari NNPC

By Modupe Gbadeyanka

The new chief executive of the Nigerian National Petroleum Company (NNPC) Limited, Mr Bayo Ojulari, has promised to consolidate on the legacy and achievements of his predecessor, Mr Mele Kyari.

He made this pledge while taking over from Mr Kyari on Friday at the organisation’s headquarters in Abuja, the country’s seat of power.

President Bola Tinubu on Tuesday dissolved the board of the NNPC and appointed new members to pilot affairs of the oil company.

In a statement today by the Chief Corporate Communications Officer of the NNPC, Mr Olufemi Soneye, it was disclosed that the new CEO praised Mr Kyari for his contributions to the growth of NNPC Ltd and his sterling service to the nation, noting that the objective of his management is to consolidate on the successes of his predecessor and take the company to the next level.

He said though the targets set for his management were quite enormous, he would be relying on the co-operation of the Management and staff of the company, as well as the counsel of his predecessor to achieve set targets.

“I will be counting on your support. I will need it. I will be coming around to seek your counsel,” Mr Ojulari told Mr Kyari.

Earlier in his remarks, the erstwhile NNPC chief congratulated his successor and thanked the management and staff of the company for their support while in office, vowing to do everything within his power to support the new team to succeed, stressing he is only a call away.

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Dangote Cement Ibese Plant Empowers Host Communities

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dangote cement ibese plant

By Aduragbemi Omiyale

Some persons living around the Ibese Plant of Dangote Cement Plc have been equipped with some skills that could make them stand on their own and contribute to the economic development of Ogun State and Nigeria in general.

The beneficiaries participated in the 2024 Youth Skill Acquisition and Empowerment Programme designed to give back to society.

This initiative, executed under the Community Development Agreement (CDA) with host communities by Dangote Cement, according to the federal government, is worthy of emulation.

The Minister of Solid Mineral Development, Mr Dele Alake, while speaking through the South-West Zonal Coordinator for Mines Environment Compliance for the Ministry, Mr Mathew Ochimana, praised the cement maker for the diligent execution of the agreement for the benefit of the rural communities, thereby fostering atmosphere of peace all year round.

While presenting certificates and starter packs to the trainees, the Minister said the government had no cause to wade into any dispute between the company and host communities.

He urged Dangote Cement to continue to partner with the host communities with more empowerment programmes to develop the communities and equip the people.

Mr Alake enjoined the host communities to reciprocate the good gesture by maintaining peace and supporting the company to do more.

Speaking in the same vein, the Chairman of Host Communities Joint Consultative Committee, Mr Dayo Ogunyinka, thanked Dangote Cement for always rising up to the occasion noting that the company has never shied away from its social responsibilities by constantly developing programmes that could lift the people and add value to them.

“I can remember we have gathered here before to graduate thos who were trained in the art of electrical electronics, those who specialized in shoe making, those who chose acupuncture, and today its painting and Plaster of Paris (PoP).

“Worthy of mentioning is the fact Dangote Cement, Ibese Plant don’t just train, they also provide the starter pack to start for the graduands to start working straightaway, we cant ask for less. I am however saddened that some of our youths run away from this lofty training by not presenting themselves.

“We are very lucky in our communities to have Dangote Cement here, they not only cater for the youths, they do for the wome, the elderly, the farmers and others, we are indeed lucky. We can only pray that God will continue to be with the organization,” he stated.

Addressing the youths earlier, Dangote Cement Ibese Plant Director, Mr Roy Uttam, explained that the training initiative was a partnership between Dangote Cement Plc and the Industrial Training Fund (ITF), Abeokuta Area Office, and that it underscored the company’s commitment to socio-economic development in its host communities.

He reaffirmed the company’s dedication to corporate social responsibility, emphasizing its focus on Health, Education, Infrastructure, and Empowerment, noting that the Dangote Academy and various training programs have continued to create employment opportunities and enhance skill acquisition among Nigerian youths.

He commended the thirty (30) graduates from the 17 host communities who successfully completed training in Plaster of Paris (PoP), screeding, and painting, urging them to utilize their newfound skills to build sustainable careers. The trainees received start-up kits, including tools such as trowels, measuring tapes, and shovels, to aid them in establishing their businesses.

Also speaking at the event, the ITF Area Manager, Abeokuta, Mrs Abolanle Ajibade, thanked Dangote Cement for the initiative, adding that, “It is with a sense of accomplishment that I stand before you to bring this impactful 2024 skills acquisition and empowerment training program to a close.

“This training program, PoP, screeding, and painting, was not merely an opportunity to gain knowledge but also an avenue to forge connections, share experiences, and challenge ourselves to go beyond our comfort zones.

“To our facilitators, your dedication and expertise have been invaluable. You have gone above and beyond to provide us with tools, insights, and guidance needed to thrive, and to participants, congratulations on your commitment, resilience, and passion throughout this training.”

The Chairman of Yewa North Local Government, Mr Akinbode Olusola, advised the youth participants to see the training as a life time opportunity to make a difference in life noting that thousands of youth in the society would not have access to the opportunity they are getting on a platter of gold.

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Sanwo-Olu Swears in Ladi Oluwaloni as Ayobo Ipaja LCDA Chairman

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Sanwo-Olu Ladi Oluwaloni

By Dipo Olowookere

The acting chairman of Ayobo Ipaja Local Council Development Area (LCDA), Mr Oladipupo Oluwaloni, popularly known as Ladi, has been sworn-in as the substantive chairman of the council.

He was sworn in on Thursday by Governor Babajide Sanwo-Olu of Lagos State at a brief ceremony attended by several loyalists of the ruling All Progressives Congress (APC) in the state.

The grassroots politician was appointed as the acting chairman of Ayobo Ipaja LCDA last month by the Governor following the long absence of his boss, Mrs Bola Shobowale.

He served as the deputy chairman of the local council before his elevation following the death of Mrs Shobowale after a protracted illness on March 21, 2025.

At the swearing-in ceremony yesterday, Mr Sanwo-Olu charged Mr Oluwaloni to listen to collaborate closely with the community as he was there to serve them.”

“Together, through unity, we can achieve our vision for a greater Lagos,” the Governor tasked the new chairman, who could not hide his excitement.

In his response, the new council chairman promised to align fully with the T.H.E.M.E.S Plus Agenda of the present administration, promising to prioritize the socioeconomic development of the people and uphold democratic values in service delivery.

Mr Oluwaloni, when he was asked to occupy the position in an acting capacity two weeks ago, said, “This is a great responsibility, and I am fully committed to upholding the trust placed in me.

“My focus will be on ensuring that governance at the grassroots remains effective, responsive, and aligned with the developmental agenda of our great state.”

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