News
OLABODE AGUSTO – Farewell To an Illustrious Son of Lagos State
Former Governor of Lagos State, his Excellency, AKINWUNMI AMBODE, FCA, has expressed profound sadness concerning the demise of Mubasheer Olabode Agusto, who served as an Adviser (Budget Matters) to President Olusegun Obasanjo during his second term in office.
His statement reads:
I am deeply saddened by the passing of Bode Agusto, an outstanding accountant, banker, mentor and a true icon of Lagos State. His legacy as an eminent citizen of Lagos State and a distinguished Nigerian who was unrepentantly committed to our nation’s economic development will forever be etched in the annals of our history.
Bode Agusto was not only a financial maestro but also a dedicated public servant, who contributed significantly to the development of Lagos State and Nigeria. His contributions to the fields of accounting, finance and economics were quite remarkable and he played a pivotal role in shaping our nation’s economic policies. His track record in the private sector and public service earned him the national award of the Order of the Federal Republic (OFR).
As Lagos State Governor in January 2017, I’d determined that Lagos State had reached a point where we needed to bring independent perspectives from the private sector to work with the government to jointly plan the future economy of Lagos State and re-engineer its business environment for global competitiveness and enhance opportunities for our people. I consequently set up the Lagos State Economic Advisory Committee, a 12-member private sector-dominated advisory body that comprised some of the best brains in our country and, in determining the chairmanship of the strategic committee, I turned to no other person than the late Bode Agusto and he graciously accepted unconditionally.
The Committee served out their assignment meritoriously without demanding financial compensation for themselves. Such was the patriotism and selflessness that defined the man Bode Agusto.
Lagos State and Nigeria has lost a true luminary and trail blazer. As we mourn his exit, I extend my deepest condolences to the Governor of Lagos State, his family, loved ones, professional colleagues and the entire people of Lagos State. Let us honor his memory by continuing his legacy of service, dedication and excellence.
Mr. Agusto has played his part in nation building and will forever live in our hearts. May his memory be a blessing that continues to inspire us to work collectively for the advancement of our nation.
News
NMDPRA, EFCC Storm Illegal Chinese Refinery in Ogun (Video)
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) and operatives of the Economic and Financial Crimes Commission (EFCC) on Tuesday stormed an illegal Chinese-operated refinery in Ogere-Remo, Ikenne Local Government Area of Ogun State.
The joint operation followed intelligence reports that revealed a well-fenced but crude yet technically sophisticated facility occupying more than three hectares of land.
During the inspection, officials observed underground tanks believed to have been used for heating and processing sludge oil, refining waste products, and substances suspected to be Automotive Gas Oil (AGO), popularly known as diesel. NMDPRA officials immediately sealed the facility.
Ogun State Coordinator of NMDPRA, Dr. Atilola Akinyemi, described the plant as a complete illegality operating without any permit from regulatory authorities.
“The underground storage facility behind the site has an estimated capacity of more than 90,000 litres, complete with underground heating systems, water hydrants for cooling, locally fabricated tanks and silos for separation,” Akinyemi told journalists.
He warned that if such adulterated products entered the market, they would pose serious risks to vehicles and engines. All recovered products have been confiscated by the Federal Government.
Director of the Department of Proceeds of Crime Management at the EFCC, Gbolahan Latona, stressed the need for collective patriotism in tackling economic crimes.
“Upon conclusion of investigation, the suspects will have their day in court and the proceeds of crime will be put to meaningful use,” Latona said.
Watch video below:
News
Sanusi: Critics Are Not Enemies Of The Govt
” It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.
The Emir of Kano, Alhaji Muhammadu Sanusi II, has advised the Federal Government against treating every comment about the administration as an attack on President Bola Tinubu.
The royal father gave the advise on the occasion of the Oxford Global Think Tank Leadership Conference, organised by the Oxford Global Think Tan.
Speaking virtually to the audience at the event, on Tuesday, Sanusi advised the government to tolerate constructive criticism.
“It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.
News
Urbanisation: Lagos To Fall Behind Luanda as sub-Saharan Africa’s biggest city by 2050
The report titled ‘Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation’, also calculated that sub-Saharan Africa’s urban population will increase by 748 million between 2025 and 2050, reaching about 1.7 billion.
A report conducted by the World Bank and the European Commission’s Joint Research Centre, has projected that Angola’s capital, Luanda,will overtake Lagos as sub-Saharan Africa’s most populous city by 2050, rising by 78 percent from 11.4 million to 20.3 million.
The report titled ‘Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation’, also calculated that sub-Saharan Africa’s urban population will increase by 748 million between 2025 and 2050, reaching about 1.7 billion.
The report estimated that Luanda’s population would increase from 11.4 million in 2025 to 20.3 million in 2050, adding 8.9 million residents over the period.
Lagos, the region’s most populous city in 2025 with an estimated 12.8 million residents, is projected to grow to 16.2 million by 2050, an increase of more than 25 percent.
Despite the growth, Lagos is expected to fall behind Luanda, whose population is projected to exceed that of Nigeria’s commercial hub by 4.1 million.
“Over this period, the population of Angola’s capital city, Luanda, is projected to increase by 78 percent from 11.4 million to 20.3 million.
In doing so, Luanda will overtake Lagos as SSA’s most populous city,” the report said.
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