Gas Price May Crash To N400 Per Kg In Osun As Adeleke Meets Investors

The Managing Director of The Allegiance CNG, Deji Afolabi, has promised a major reduction in the price of cooking gas from N1,400 to N400 for residents of Osun State.

Afolabi made the pledge during a business meeting with Governor Ademola Adeleke on Tuesday at the Governor’s Office, Osogbo, according to a statement by the Governor’s spokesperson, Mallam Rasheed Olawale. 

Afolabi was quoted as saying that Osun would benefit from several gas projects of his company to the tune of $20m which will expand the state economy and reduce energy poverty.

Afolabi who said his firm is among those engaged by the federal government for the adoption of CCG in transportation in the wake of fuel subsidy removal said it is willing to invest in power generation for the state to power the industrialisation objective of Governor Adeleke beginning with the powering of State Secretariat and Government House 24/7 at no cost.

He reportedly said the plant by the firm will be stationed in three locations and reflects senatorial demography, promising to present sample of the household gas to the governor within two weeks. 

According to the statement, close to $80m would be committed to the state infrastructure within the framework of Public Private Partnership by Afolabi’s firm and First Tricon Construction Service Limited led by Remi Olumuyiwa.

In his own separate presentation, Olumuyiwa said his company was impressed with the infra initiatives of the Governor, hence its decision to refocus a $60m investible fund for roads, bridges, water and housing projects across Osun.

Applauding Adeleke for exciting investors’ confidence by his elaborate policy innovations, Olumuyiwa posited that the firm was not going to burden the state with financial traps, assuring that it has a strong and good relationship with financial institutions for sponsorship of projects.

“We have a very good relationship with our banks and investors. When we see what we can deliver in Osun, we have the capacity to do it. We are here because this is our country, this is our state. We are ready to work with you to meet the housing and infra needs of our people”, the company chairman stated.

Responding, Governor Adeleke assured the company chiefs that Osun was implementing a fast-tracked Ease of Doing Business plan with a target on attracting investment into the state.

He said: “These submissions here today are really massive. Osun is changing for the better. On a daily basis, various firms across the sector are reaching out to us with actionable proposals. I am glad that these two firms are really here to hit the ground running.

“We have the land. We have an enabling environment. Osun is already a huge construction site. You are welcome to the site.