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Tag: Otedola’

  • Otedola’s daughter Temi draws inspiration from sister

    Otedola’s daughter Temi draws inspiration from sister

    Like a genie with rare abilities, the Chairman of Forte Oil, Femi Otedola, is reputed for transforming stones into gold and sheds into mansions. It comes as no surprise therefore that the products of his loins are in the habit of excelling beyond measure.

    Temi Otedola, one of the beautiful daughters of the business tycoon, is one of the ladies to watch out for in the fashion world. She is gradually blossoming into a socialite in her own rights, armed with a mission to lead in the lifestyle sector.

    Temi is the younger sister of DJ Cuppy, a disco jockey (DJ), who started playing at parties from her days as an undergraduate student. A lot of people had not taken her seriously because the world she chose to operate in was male-dominated, but Cuppy kept at it. Today, she is a force to reckon with.

    Fast-forward to her sister, the young and beautiful lady has also delved into blogging. Temi started a fashion blog a few months ago and has been selected to be a Lagos Fashion Week ambassador.

  • Femi Otedola champions masses’ cause

    Femi Otedola champions masses’ cause

    The Chairman of Forte Oil, Femi Otedola’s decision to drastically reduce the price of kerosene by more than 50 per cent has no doubt thrown him up as a champion of the masses. Odetola recently issued a directive that all his petrol stations across the country should sell kerosene at N50 per litre.

    The billionaire’s decision to reduce the price of kerosene, Celeb Watch gathered, was meant to identify with President Muhammadu Buhari’s bid to ameliorate the hardship faced by millions of Nigerians. Hence ‘Buhari kerosene’ is the new catch phrase in town.

    Odetola had recently exposed the shady deals in the oil sector, blaming some actors in the sector for the sale of household kerosene as aviation fuel to airline operators. This illicit act has been the major cause of the rising cost of kerosene in the country and may also be the cause of some of the air mishaps we have encountered in the country in recent times, Femi said.

  • Bad fuel likely cause of air crashes, says Otedola

    Bad fuel likely cause of air crashes, says Otedola

    Air accident investigators have been advised to keep an eye on aviation fuel.

     Household Kerosene (HHK) is being sold to airlines as a substitute for Jet A1 fuel, also called aviation turbine kerosene (ATK), it was alleged yesterday.

    This is a rising trend that needs to be arrested, frontline businessman Femi Otedola said. He called on the Federal Government to focus its searchlight on the sector.

    In a statement he signed, the oil magnate said: “This illicit act has been identified as a major factor contributing to the rising cost of kerosene in the country and may also be the cause of some of the air mishaps we have encountered in the country in recent times.

     “It is pertinent to state that HHK is sold by the Pipelines and Products Marketing Company (PPMC), an   arm of the Nigerian National Petroleum Corporation (NNPC) at the ex-depot and regulated price of N40.90k with the objective of selling to the average Nigerian at the pump price of N50.00k per litres.

    “However, HHK shares some physical and chemical properties with Jet A1 fuel (except for the storage and handling procedures to eliminate contamination in Jet A1 fuel) is being sold by some petroleum marketers to both local and international airlines at the international market price, which may be as high as N140/litre. This huge arbitrage has led to evolution of some mushroom aviation fuel marketers who see this as an opportunity to make big profit.”

    Otedola noted that more worrisome is that these mushroom marketers are not established and do not have the infrastructure to store, transport and handle Jet A1 fuel in such a manner to eliminate contamination which is a key safety requirement for global aviation practices. The proper care and handling of ATK is paramount in maintaining safe aircraft operations, he added.

    He stated that one of the requirements that operators with high safety standards try to ensure is that their fuel is free from contamination. Contaminated fuel can cause significant damage to the aircraft and engine. Damage can range from fuel system corrosion, clogging of fuel filtration components, failure of aircraft fuel system instrumentation, and even stopping the fuel supply to the engines during flight, he said.

    “But with proper handling procedures in place, fuel contamination capable of causing problems to the aircraft can be eliminated. In addition, Jet A1 DEF STAN 91-91 (UK) and ASTM D1655 (international) specifications allow for certain additives to be added to jet fuel, these include; Antioxidants to prevent gumming, Antistatic agents, to dissipate static electricity and prevent sparking , Corrosion inhibitors and Fuel system icing inhibitor.

    “Based on the foregoing, it is pertinent that the unwholesome activities of these mushroom operators be curbed in order to ensure highest levels of safety and global best practice in the Aviation industry in Nigeria,” said.

    According to experts, the difference between fuel families (kerosene, diesels and petrol) has to mainly with the molecular weight, which is a function of the boiling point/ vapour pressure of the fuel components – from heaviest to lightest. The differences within each family are related to refining, blending, and additives, as well as process controls imposed on the fuel.

    Jet-A is a high-purity kerosene based fuel manufactured under a specific ASTM standard (D1655), with specific physical properties, and is used in jet turbine engines. Fuel not meeting the Jet-A specification is generally recycled in the production chain for other purposes (for example it may be used in blending kerosene for heating or blended into highway diesel).

    The Chairman, Airline Operators of Nigeria, (AON)  Captain Nogie Meggison yesterday dismissed insinuations making the round that some independent fuel marketers were selling kerosine as aviation fuel to airlines.

    Meggison said if kerosine is sold as adulterated aviation fuel, it could affect the performance of aircraft engines thereby reducing the lifecycle of engines powered by such adulterated product .

    He said such product if adulterated could make the aircraft engine burn faster and cause major malfunction that could become an impediment  to safety.

    He said operators were still investigating the rumour  and were yet to establish any veracity in the claim of adulterated aviation fuel being sold to airlines from kerosine.

    Speaking at a one day breakfast meeting organised by Aviation Round Table (ART) in Lagos yesterday, Meggison said  major oil marketers  were alleged to be selling kerosene as aviation fuel to the operators.

    He explained that the International Air Transport Association (IATA) had sent a Notice to Airmen, NOTAM, to all airline operators coming into the country to beware of aviation fuel being sold to them.

    He said the Nigerian Civil Aviation Authority ( NCAA) has been notified of the development.

    Last month, the Managing Director of Federal Airports Authority of Nigeria ( FAAN), Saleh Dunoma  advocated a central quality control procedure for aviation fuel supplied by independent marketers to domestic and foreign carriers operating in Nigeria.

    Dunoma said the central quality control measure has become imperative to ensure that aviation fuel supplied complied with the required standards by the International Civil Aviation Organization (ICAO).

    Towards this end, he said FAAN, fuel suppliers and airlines met to arrive at the best quality of the product to be certified by the Nigerian Civil Aviation Organization (NCAA).

    He also urged aviation agencies  to initiate quality control procedures to strenghten controls over Jet A1, otherwise known as aviation fuel .

    Dunoma stated this  while delivering a keynote address at the annual public lecture organised by the Aeronautical Division of the Nigerian Society of Engineers (NSE).

  • Dangote, Otedola receive death threats

    Dangote, Otedola receive death threats

    Otedola
    Femi Otedola

    PRESIDENT Buhari’s decision to probe the rot and corruption that has infested the nation’s oil sector may have raised more concern in some quarters than one would imagine. Billionaire businessmen, Aliko Dangote and Femi Otedola are said to have become the targets of some local oil merchants who are not finding the imminent probe funny.

    Why the two oil magnates became the target of the syndicate remained yet unclear at press time. But it is widely believed that the move might have been the brainchild of some of the masterminds of the controversial crude oil swap and Offshore Processing Agreement (OPA). The death threats are believed to be linked with the suspicion of the syndicate that Dangote and Otedola were the ones who revealed the sleazy deals of the young oil magnates and their tragic consequences for the nation’s economy.

    The two businessmen have since alerted security agencies to the development.

  • Dangote, Otedola live it up at Ali Baba’s show

    One thing that is common to politics and business is the saying that there is no permanent friend or enemy but permanent interest. After years of bickering, the feud between two of Africa’s richest men, Alhaji Aliko Dangote and Femi Otedola, seems to have abated. The two business moguls appear determined to prove that a broken friendship is not a broken ornament that cannot be mended.

    Sighted together at a party in Lagos recently, the two billionaires displayed full-fledged solidarity, subtly telling the world that their differences have been resolved and their broken fence mended.

    Of course, they had been friends until the feud that shook the Nigerian socio-economic sphere as no one had expected their seemingly water-tight friendship to crack. Forbes magazine had profiled them as two of Africa’s richest men. Aliko was indeed identified as the richest in Africa while Otedola’s also occupied a pride of place on the list and was also spotted as a businessman with a bright future. But like a pack of badly arranged cards, their relationship crumbled after a conflict of interests from their conglomerates.

    But thanks to the intervention of Lagos-based publisher, Nduka Obaigbena, their cordial relationship was restored and a new friendship emerged from the ashes of the old one. The two were seen together at the Ali Baba concert on January 1, chatting all throughout the event.

  • Dangote, Otedola live it up at Ali Baba’s show

    One thing that is common to politics and business is the saying that there is no permanent friend or enemy but permanent interest. After years of bickering, the feud between two of Africa’s richest men, Alhaji Aliko Dangote and Femi Otedola, seems to have abated. The two business moguls appear determined to prove that a broken friendship is not a broken ornament that cannot be mended.

    Sighted together at a party in Lagos recently, the two billionaires displayed full-fledged solidarity, subtly telling the world that their differences have been resolved and their broken fence mended.

    Of course, they had been friends until the feud that shook the Nigerian socio-economic sphere as no one had expected their seemingly water-tight friendship to crack. Forbes magazine had profiled them as two of Africa’s richest men. Aliko was indeed identified as the richest in Africa while Otedola’s also occupied a pride of place on the list and was also spotted as a businessman with a bright future. But like a pack of badly arranged cards, their relationship crumbled after a conflict of interests from their conglomerates.

    But thanks to the intervention of Lagos-based publisher, Nduka Obaigbena, their cordial relationship was restored and a new friendship emerged from the ashes of the old one. The two were seen together at the Ali Baba concert on January 1, chatting all throughout the event.

  • Otedola: Philanthropy personified

    A particular dictionary simply defines philanthropy as charitable giving to human causes on a large scale. Philanthropy must be more than just a charitable donation; it is an effort undertaken by an individual or organization based on an altruistic desire to improve human welfare. Wealthy individuals sometimes establish foundations to facilitate their philanthropic efforts. In Nigeria, we have never really fallen short of wealthy individuals with philanthropic inclinations. Late Sir Mobolaji Anthony and late Chief MKO Abiola are names readily come to mind in this regards.

    Real philanthropists are buoyed by their deep or inner satisfaction of impacting on the lives of their beneficiaries. Others venture into philanthropic activities because of their horrid experience with poverty   Sir Michael Otedola, who recently passed on at a ripe age of 88, belongs to this class. A man whose philanthropy is legendary just as his devotion to serving humanity and God was un-wavering, touched and impacted on many lives before he bid the world farewell on the 5th of May, 2014. Though born into a Muslim family at the modest Odoragushin community of Epe Area in 1926, Sir Otedola refused to be carried away by his success later in life. With his humble beginning always in his consciousness, he has since 1985, committed his resources to the Michael Otedola University Scholarship Awards Foundation for indigent students of  Epe Division in particular and Lagos State in general.  Since inception, over three hundred indigent students have benefited from the scheme to become Lawyers, Engineers and Doctors etc. who are now useful to themselves and the society. Most of them would readily tell whoever cares to listen that Sir Otedola was the angel that God sent to them to give meaning to their lives. Just think about many prospective professionals who are now wasting away in different parts of the country because they couldn’t fulfill their dreams as a result of poverty, then you will appreciate an individual who commits his resources to the training of other peoples’ children.

    Sir Otedola’s decision to establish the scholarship awards foundation was borne out of his determination to give back to the society that offered him the platform or springboard to achieve his goals in life. He left his native Epe very early in life for Lagos city centre in pursuit of education and due to his brilliance; he won a scholarship to study Journalism at the Regent Street Polytechnic in London and graduated in 1958. This was a remarkable turning point in Otedola’s life and might have reinforced his commitment to help other indigent students attain their lofty dreams.

    After his destined stint as the 2nd elected executive Governor of Lagos State between 1992 and 1993, the quintessential unassuming Otedola quietly reverted to his private life and business becoming even more committed   to his philanthropic works. He continued to donate generously to community development projects and to various religious causes.

    When the challenges of ageing came calling, this illustrious benefactor was still able to ensure the sustainability of the Sir Michael Otedola University Scholarship Awards Foundation. In 2008, his billionaire businessman son, Femi Otedola, instituted a N200 million scholarship scheme as intervention in the educational sector, expected to grow over time to include infrastructural improvements and the provision of learning aids to schools in the Epe area, thereby bringing a wider impact. With this gesture, Femi Otedola, like his father, has demonstrated himself to also be a very generous man whose heart is continuously flowing with abundant milk of human kindness. This , perhaps, reinforces the fact that kindness runs in the veins of the Otedolas.

    The lesson that we need to draw from the commitment of Sir Otedola and his likes to the cause of the downtrodden is that whatever man does in life lives after him. Though Sir Otedola is no more, but he will be remembered forever by the lives that he touched.

    •Bilikis Bakare wrote from the Features Unit,  Lagos State Ministry of Information & Strategy,

  • Lagos holds Day of Tributes for Otedola

    Lagos holds Day of Tributes for Otedola

    As a way of giving a befitting honour and recognition to Sir Michael Agbolade Otediola, former Governor of Lagos State who gave up the ghost on Monday, May 5 at a ripe age of 88, the government and people of the state will hold a special farewell ceremony for the statesman.

    The state government, which had earlier declared a week of mourning and the lowering of flags at half-mast,  has accordingly set aside Wednesday,  May 28   as “Day of Tributes” for the recognition of the great contributions of the Epe-born politician to Lagos State.

    The programme, which will hold at Onikan Stadium, Lagos from 10.00 a.m., is, according to the Commissioner for Information and Strategy, Lateef Ibirogba, expected to attract dignitaries from all walks of life, including former governors of the state.

    A statement by the commissioner stated that the former governor would lie-in- state at his Epe residence on Thursday May 29  from 2.40 p.m., while Christian wake would hold at the same venue from 4.00 p.m. that day.

    The late octogenarian  would be buried on Friday,  May 30,  after a funeral mass at the Immaculate Conception Catholic Church, Ibowon at 11.00 a.m., after which guests would be hosted to a reception  at St. Patrick’s Grammar School, Eredo.

  • Otedola, monarch, others preach love, forgiveness at Ita-Oba day

    Otedola, monarch, others preach love, forgiveness at Ita-Oba day

    Former governor of Lagos State, Sir Micheal Otedola, the traditional ruler of Igbooye Orijeruland, Oba Michel Gbadebo Onakoya and the chairman of Eredo Local Council Development Area, Otunba Sabiu Omolaja were among eminent personalities who preached love, forgiveness and reconciliation at a gathering of the sons and daughters of Igbooyeland.

    The occasion was at the annual traditional Ita Oba day of the town held Thursday last week at the Orijelu Traditional house and which is used by the people to pay homage and reaffirm their loyalty to the monarch, Oba Onakoya.

    The annual event which brings back home sons and daughters of the town in the Diaspora also had in attendance several traditional rulers who all came to show respect, friendship and loyalty to the monarch of the town.

    They included the Alara of Ilara, Oba Akeem Adesanya; the Olu-Epe of Epe, Oba Shefiu Olatunji Adewole; the Alade Uraka of Pokaland, Oba Ayodele Kolawole Aliru; Onimedu of Orimedu, Oba Musa Atiku; Elejinrin of Ejinrin, Oba Babatunde Balogun; Oniwerekun of Iwerekunland, Oba Tajudeen Afolabi Adebanjo Elemoro and the Ayangelu of Odo-Ayangelu, Oba Ganiyu Aderibigbe.

    Other dignitaries were the former first lady of Lagos State who is also the Iya Oba of Igbooye,  Chief (Mrs) Adedoja Otedola; Gbobaniyi of Ilara-Epe, Otunba Oladokun Ajidagba; Omo Oba Kayode Adesanya; the Olisa of Ilara Kingdom, High Chief Owolabi Talabi; Otun Seriki of Epe Kingdom, Chief Adeniyi Kadiri-Odedeogboro; High Chief Ogegbo of Ibonwon, Oloja Cajetan A. Adekoya; Balogun of Ilara, High Chief Deji Otushile; Olotu Pampa of Odoshimola, Chief Kamoru Agbolade Adenuga; Education Secretaries, Ajeromi-Ifelodun Local Government Council, Epe Local Government Council, Hon. Adewale Adeogun and Mr. Kunle Odubela respectively; Opemoluwa Elemoro of Iwerekunland, Chief Kamoru S. Elemoro and Balogun Elemoro of Iwerekunland, Chief Abiodun Elemoro among others.

    Former governor of the state, Sir Otedola urged the people to love one another in order for peace to reign supreme in the town.

    Speaking through his wife, Adedoja, Sir Otedola said, “all that God wants from you is to love one another.

    “Where there is love, there would be peace and when there is peace, there would be growth and development in the town”, he stressed.

    Mrs. Otedola said that she was particularly happy with the large turnout of the local traditional rulers, the baales and pointed out that their attendance was a sign of a new beginning in the town and its suburb.

    She gave glory to God for sparing everybody’s life to witness this year’s Ita Oba day.

    Oba Onakoya who said that he has forgiven all those who offended him asked those he offended to forgive him in return.

    “I was worshipping in the church one Sunday when the Holy Spirit instructed me to go and forgive everyone.

    “Immediately, I summoned all those who offended me and I told them that I have forgiven them except those who refused to come. At least the spirit knows that I have done as I was instructed.

    “Please, tell everybody that all is forgiven and if I have offended anybody, let him forgive me too so that there can peace and development in the land”, he said.

    The monarch urged the youth of the town to shun hemp smoking, thuggery and cultism, pointing out that this has been the cause of his grievances with them.

    He counseled them to stop selling and using hemp and to shun cultism adding that the state government has put in place stringent laws to combat the vices and punish offenders.

    “Please, let us join hands together for the progress of our town. Whatever anybody did for the town is what he or she would be remembered for”, he said.

    Oba Onakoya said that he has forgiven all the Baales within the kingdom and promised that he would henceforth accord them recognition and commence the process of introducing them to other Obas in the area in the spirit of forgiveness and reconciliation.

    The Onibeju of Ibeju, Oba Rafiu Olusegun Salami also counselled the Baales to team up with the Orijeru of Igbooye land for the progress of the town.

    Alayangelu of Odo-Ayangelu, Oba Ganiyu Aderibigbe while saying that the Orijeru of Igbooye operates an open door policy, urged the people to seek him out on any issue instead of spreading rumour.

    He said that it is when there is love and peace in the town that development can take place.

    The chairman of Eredo Local Councal Development Area, Otunba Sabiu Adelaja remarked that the Igbooye community has enjoyed relative peace and development in the last five years and attributed this to the excellent leadership style of the monarch.

    Represented by the leader of the legislative arm of the LCDA, Hon. Oresanwo Ayodeji. Adelaja  urged indigenes of the town who are entrepreneurs to take advantage of the prevailing opportunities to come home and invest their businesses in the community.

    He assured the prospective investors that his administration would not relent in the provision of conducive business environment “as this would not only improve the economic base of the council but also the living standard of the people”.

    He congratulated everybody on the celebration of the traditional Ita-Oba day and urged them to mark it with decorum and not to do anything to disrupt the peace of the town.

    Highlight of the ceremony was the pouring of libation by the Ogegbo of Ibonwon, Oloja Cajetan Adekoya who called upon the spirits of their ancestors to guide and protect the lives of the traditional rulers. Oloja Adekoya also prayed for love and peace to reign among the people, for safe delivery of all pregnant women in the town and its suburbs and for the development of the community.

    The traditional Gbedu dance was performed by the representatives of the different ruling houses including Erelu, Ewade, Shamba and Oshikadewa and paying of homages to the Orijeru.

    Others who danced to the Gbedu included representatives of the Rola and Ologbin quarters, the Baales and local clubs and associations and other interested groups who all paid homage to their paramount ruler.

    The interdenominational prayer session which preceded the Ita-Oba celebration was performed by the duo of the Mufasiru of Igbooye land, Alhaji Soliu Isiak and Reverend Sunday Okiti of St. Paul Anglican Church, Igbooye.

     

  • Bribery: Lawan, Emenalo remanded in prison

    Bribery: Lawan, Emenalo remanded in prison

    An Abuja High Court on Friday remanded in prison the former chairman of the House of Representatives ad-hoc Committee on fuel subsidy, Farouk Lawan.

    Also remanded in custody was the committee’s former secretary, Boniface Enemalo.

    They were arraigned for allegedly soliciting for and collecting a bribe of $620,000 from the Chairman of Zenon Oil, Femi Otedola.

    At the resumption of trial on Friday, the duo pleaded not guilty to the seven-count charge filed against them.

    The counsels to the lawmakers, Rickey Tarfa and Mike Ozhekome, both Senior Advocates of Nigeria, had earlier filed a bail application on their behalf.

    However, the presiding judge, Justice Mudashiru Oniyangi, ruled that both Lawan and Emenalo be remanded in Kuje Prison pending the ruling on their bail application.

    He subsequently picked February 8 for ruling on the application.