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Wale Tinubu’s Oando makes another history with Electric Mass Buses

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Mr. Tinubu

Oando Clean Energy Limited (OCEL) has made an inroad into the transportation business in Lagos State, acquiring and taking delivery of undisclosed number of electric vehicles from Chinese carmaker, Yutong Bus.

OCEL is the clean energy arm of Oando Plc, largely owned by Wale Tinubu. His company signed a Memorandum of Understanding (MoU) with the Lagos State Government through the Lagos Metropolitan Area Transport Authority (LAMATA) on April 28, 2022.

It was gathered that history was made in Nigeria’s last-mile business in June 2021, when Africa’s fastest growing e-commerce logistics company, GIG Logistics, and JET Motor Company struck a deal to launch the first electric vehicles in the country’s delivery market.

GIGL partnered with JET, a car assembly firm, to phase out internal combustion engine from its logistics’ cargo bus fleet, replacing them with EVs in line with UN Environment’s Electric Mobility Programme.

The Oando, Lagos State agreement will see Oando Clean Energy roll out 12,000 electric mass transit buses, supporting charging infrastructure, and service centres (EV Infrastructure Ecosystem).

According to the statement released, it was disclosed that the electric mass transit deal would lead to the phase-out of current combustion mass transit buses in the state.

Commenting on the acquisition and deal between the state and his firm, Wale Tinubu, who is the Chairman of OCEL, said: “The arrival of our electric mass transit buses and development of an EV infrastructure ecosystem is a reminder that the only way to remain ahead of the curve is by being unafraid to break new ground and consistently looking for opportunities to leapfrog.

“Public-Private Partnerships have been critical to getting the project to this point and will continue to fuel our expansion across the entire country.

“The commencement of this project gives us a platform to showcase to other States what is possible and open the door for engagements on bespoke solutions to suit their local needs as well as act as a model to be adopted by other organisations looking to venture into sustainable transportation.”

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Inflation: Real reason Indomie reduced Prices of Popular Staple Food item Revealed

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A flagship brand under Dufil Prima Foods Limited, Indomie Instant Noodles, has announced a significant reduction in prices to ensure affordability for consumers amidst Nigeria’s escalating inflationary pressures.
The decision came as a response to mounting economic challenges faced by Nigerians, with the aim of maintaining accessibility to this popular staple food item.
And this has been confirmed by a recent survey conducted across various stores in Lagos, which revealed a notable decrease in the prices of Indomie products. The cost of the 70g pack of Indomie Regular Chicken noodles plummeted from N300 to N250 compared to the previous month.
Additionally, the price of a 40-pack carton of Indomie dropped from N12,000 to N10,000 within the same timeframe. Prior to this adjustment, Indomie’s prices had surpassed those of competing brands such as Mimee (N200) and Honeywell noodles (N250).
Temitope Ashiwaju, the group corporate communications & event manager at Dufil Prima Foods Limited, attributed the price reduction to favourable changes in operational costs.
He emphasised the company’s commitment to passing on benefits to consumers, stressing their dedication to fairness and affordability.
“We are never going to be taking advantage of the populace. We want to make profit, but in a fair way,” the spokesman added. “That is why we are determined to keep our products affordable to Nigerians.”
Contrary to speculations suggesting low patronage as the driving factor behind the price adjustment, Ashiwaju reaffirmed that the decision was rooted in the company’s ethos of customer-centricity and fairness.
Industry experts have hailed Dufil Prima’s move as influential, predicting a ripple effect that could prompt other brands to follow suit because Indomie’s dominant position in the market has positioned it as a price setter, prompting expectations for broader shifts in pricing strategies across the industry.
The price reduction by Indomie comes amidst a backdrop of economic challenges in Nigeria, characterised by soaring inflation rates.
Over the past nine months, Nigeria has witnessed a steady rise in headline inflation, driven primarily by government reforms such as the removal of petrol subsidy and naira devaluation.
As a result, food inflation has surged, exacerbating the financial strain on households and leading to an increase in poverty levels.
Despite these economic headwinds, a recent report by Euromonitor International indicates robust growth in the sales value of noodles within Nigeria’s formal market.


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Sosa Fruit Drink and Rite Sausages Thrill 60 Consumers with Movie Hangout and Freebies

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Sixty lucky fans of premium Sosa Fruit Drink and delicious Rite Sausages, owned by Rite Foods Limited, were treated to an exhilarating movie experience on Saturday, February 24th, 2024. These consumers, selected from an online Valentine’s Day engagement, enjoyed the romantic comedy “All’s Fair in Love” at the Silverbird Cinema in Ikeja City Mall.

The winners, along with their companions, received valuable gift items and expressed their gratitude to the award-winning brands for creating a memorable and refreshing afternoon. They savoured the variety of Sosa Fruit Drink flavours (Orange, Apple, Orange Passion Mango, Mixed Berries, and Cranberry) in both 35cl and 1-liter packs, alongside the popular Rite Spicy Beef and Bigi Beef Sausage Roll that have become consumers’ favourite.

“This event was an innovative way to show our appreciation for our loyal customers and celebrate the spirit of Valentine’s Day,” said Ms. Adebola Adeyinka, Assistant Marketing Manager, Rite Foods Limited. “We are committed to providing value and opportunities for our customers, and this event was a fun way to do just that.”

The free movie outing reinforces Rite Foods’ commitment to its core mission of putting consumers at the heart of everything they do. The company’s dedication to quality and value is evident in the numerous awards their products have received, including the “Outstanding New Product of the Year – Juice” award for Sosa Fruit Drink in 2023 and the “Best Value for Money – Sausage Brand” award for Rite Foods’ Sausage Roll in 2023.


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RevolutionPlus Property Rubbishes Kayode Oladipo’s Claims

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RevolutionPlus Property Boss, Bamidele Onalaja

Revolution Plus Property, a leading real estate company, has stated her side of the story on the allegations against the firm in a viral video clip made by one Mr. Kayode Oladipo over 20 plots of land he purportedly bought in 2017 without any physical allocation of the said plots.

The company’s management stated their side of the story at a meeting facilitated by the Lagos State Real Estate Regulatory Authority, LASRERA on the directive of the State Governor, Mr. Babajide Sanwo-Olu at Alausa, Lagos.

The Revolution Plus’ full statement below:

“Sequel to the false allegations made by Mr. Kayode Oladipo, that the Company collected the sum of 40 Million(Forty Million Naira) from him without allotting him the land he paid for, the Lagos State Government (LASG) invited our Company to intervene in the matter.

“The meeting which took place on Friday, 19th January 2024, by 10 am took place at the LASRERA Office Alausa, where the Commissioner for Housing, Moruf Akinderu Fatai, the Special Adviser to the Governor Housing, Barakat Odunuga Bakare, the Permanent Secretary, Lagos State Ministry of Housing, LASRERA Officials and Revolutionplus Property Development Company’s CEO, Dr Bamidele Onalaja, the GED, Mrs Tolulope Onalaja and other officials in the Company were in attendance.

“In trying to mediate in the matter, Mr. Kayode Oladipo was given a call and he indeed admitted upon questioning that he lost his job at a point and could not proceed with payment of the required fees as expected and within the stipulated time frame.

“Mr. Kayode Oladipo also confirmed that he didn’t pay the sum of Forty Million Naira (N40,000,000) as alleged in the viral video but paid the sum of N18,000,000.

“In response to his claims, the GED of Revolution Plus Property refuted the claims of the N18,000,000 allegedly paid by Mr. Kayode Oladipo, stating with evidence that the total sum paid to the Company was N16,752,000 (Sixteen Million, Seven Hundred and Fifty Two Thousand Naira only). Attached herewith are the evidence of payment in this regard.

“Upon further discussion, Mr. Kayode Oladipo also admitted that he indeed bought the plots of land in 2017 and could not complete payment because he lost his job.

“He claimed that he came back in 2020, but the CEO of Revolution Plus refuted his claims and reiterated that he was only aware that Mr. Kayode Oladipo came back in 2022, six years after his initial payment, demanding to be allotted the same land he subscribed for in 2017, despite his default in payment.

“The CEO met with Mr Kayode Oladipo and empathized with him over his financial plight, and further explained the penalties attached to default in payment to him as stipulated in the contract signed by parties.

“The CEO stated that the Company in its commitment to priotizing its customers, will make other options available for him in the equivalence of the monies he had paid. Furthermore, the CEO of Revolution Plus Property, Dr Bamidele Onalaja appreciated his Excellency, the Lagos State Governor, Babajide Sanwo-Olu, for stepping into the matter and giving room for the company to state her side of the story.

“The CEO also stated that out of respect for the Lagos State Government, and the relevant bodies assigned to regulate the real estate industry in Lagos State, the company was willing to allocate lands in another location at one of its Estates, Amazon Estate, Epe.

“The CEO expressed displeasure at the slanderous coloration given to the video explaining that the Company had been doing business for years and had continued to operate within the ambits of the law despite all challenges posed to the business in Nigeria.

“The CEO also stated that Revolution Plus Property had served a lot of Nigerians in the Diaspora and had continued to work with the vision of the Lagos State Government to attract investors from the Diaspora especially in the real estate industry.

“To resolve the matter, the Commissioner for Housing appealed to both parties to tow the part of peace, and it was decided thus:

• That Mr Kayode Oladipo would do a Video the next day appreciating the Lagos State Government for mediating and resolving the issue.

• That in the said Video, Mr Kayode Oladipo will do a retraction of his distorted allegations of fraud, and state emphatically that Revolution Plus Property did not set out to dupe, defraud or scam him.

• That when the video is done, the alternative land promised by the Company in the equivalence of the monies paid will be immediately allotted to Mr. Kayode Oladipo the same week, the retraction is done.

• Whilst we are still waiting for Mr. Kayode Oladipo to do the Video as promised in the meeting. We wish to appreciate the Lagos State Government for stepping in as a mediator to resolve the issue, We also appreciate all our esteemed customers who reached out to us to encourage us and stand by us in the heat of the issue. We are committed to service and customer satisfaction and we will not relent.

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