Business
How traditional rulers, Dotun Sanusi, other businessmen join Gov. Makinde to woo investors at London summit
Top businessmen in Oyo State and a host of traditional rulers on Friday joined the State Governor, Engr Seyi Makinde to woo foreign investors to pick the State as their investment destination of choice in Nigeria.
The participants were concerned at the Oyo State International Business Summit which was held at the Millennium Gloucester Hotel, London Kensington, on Friday, May 19, 2023, where the Governor of the State held his audience spellbound for hours.
The meeting was called to draw international investors to the great economic potentials and opportunities that abound across the length and breadth of the State.
In a State that has witnessed some ugly past in terms of real economic development, the current efforts by its handler and chief executive, Governor Makinde deserves accolades from all and sundry.
The Governor held a series of business meetings with potential investors where business communities, stakeholders, traditional rulers, captains of industries, legislators, and cabinet members including members of the First Family and political associates converged to discuss the way forward for real economic growth and development for the State.
Some of the participants included the Governor himself; his wife, Mrs. Tamunuominini; the trip’s Coordinator Peter Eledan; the Speaker and the Deputy Speaker of Oyo State House of Assembly; serving House of Representatives’ members; the Chief of Staff to the Governor; commissioners amongst other economic advisers of the Seyi Makinde-led administration.
The list also included a former Speaker of Oyo Assembly, Senator Monsurat Sunmonu; the Olugbon of Ile Igbon, Oba Francis Olusola Alao, alongside other monarchs from Afijio and Ibarapa areas of the State including some Ibadan senior chiefs and Mogajis.
Some leading investors in the State like billionaire businessman, Engr Dotun Sanusi, Chairman of Ilaji Hotels and Sports Resort, Akanran Ibadan; a frontline serial investor, Dr Abib Olamitoye and a host of other State indigenes based in the Diaspora, spoke to this reporter on the sideline.
The State Governor in his presentation titled: ‘’Your All Access Card to Sustainable Investments in Oyo State – Follow the Data”, copiously quoted from all available statistics and employed the use of data and logic to convince his audience.
According to him, “Through all our efforts in these past four years, we have been able to better our economic standing among the Nigerian States. It is on record that Oyo State is now one of the top five economies in Nigeria. We now have a GDP of $8.67 billion in 2022. This is a growth of about 50% in 4 years. The number of enterprises within the state grew to 1,872,941. And we attracted Foreign Direct Investment of $65 million.
“Against this background, I am sure you would like to know how you can join the thousands of investors in Oyo State and benefit from the huge Return on Investment that has led to about a dozen of these investors joining us at this summit to learn about how they can expand their business.
“The questions I will be answering in the remaining part of my presentation are:
“What are the investment opportunities available in Oyo State? How can you, as an investor, benefit from these opportunities? and
“What has the Oyo State Government done to ensure our incoming investors get the support they need? So, let’s start with the investment opportunities available in Oyo State.
“I will just give an overview based on our focus sectors. I am sure that these opportunities will be discussed over and over as the programme continues. So, our focus sectors are Agribusiness; Solid Minerals; Sustainable Energy, and Tourism.
He also talked about some Infrastructure projects that are available to investors.
In his comment, Dotun Sanusi also a close friend of the Governor could not hold back his joy at the success of the meeting in London.
According to him, ‘our Governor despite just winning a second term and rightly deserving some rest, is taking governance to utopian height as he is living to his promise that he won’t rest on his oars until the State takes its pride of place as the best and investors destination of choice in the country.’
Dotun Sanusi continued: ‘The Governor took the international investors through the historical antecedents of the State; its rich culture, accommodating spirit of its people and their untapped resources in the mining, great hospitality, and agricultural potentials.
‘His Excellency without any doubt is the best man for the job of governing our dear State at a time like this. He is putting his energies and resources to ensure we can achieve what our people ought to have been enjoying before now.
‘I saw him displaying dexterity and professional Marketing strategies so much so that he is to me our Chief Marketer. You need to also see his wife, displaying the rare qualities of a person selling the State like never before. I am proud of them.
‘The gains of this meeting will start manifesting sooner than expected because global investors saw the sincerity of purpose in him and were able to figure out his efforts at changing the shenanigans of our State for the better in the last four years,’ Sanusi added.
Corroborating Sanusi, a leading investor and owner of Ibadan Central Hospitals and hospitality haven, Academy Suites in Ibadan, Dr. Abib Olamitoye said he was encouraged by the progressive leadership of Governor Seyi Makinde and felt obliged to support his capacity to draw investors to Oyo State.
Abib Olamitoye said: ‘ My job is to persuade those wishing to start hotels to come to Oyo State instead of London, Lagos, or Ogun State. And to supply convincing data to them. I was able to do just that and by the grace of God, gains of this effort alongside the overall genuine interest of His Excellency will start manifesting in Oyo State.’
Oyo State is an inland state in southwestern Nigeria. Its capital is Ibadan, the third most populous city in the country and formerly the second most populous city in Africa. Oyo State is bordered to the north by Kwara State, to the east by Osun State, and the southwest by Ogun State and the Republic of Benin. With a projected population of 7,840,864 in 2016, Oyo State is the fifth most populous in Nigeria and its economy has grown in leaps and bounds suggesting that its current population stands at about 10 million in line with the expansive growth of its people occasioned by the current economic expansion agenda of the Seyi Makinde-led administration.
Jeremiah Oke writes from London, United Kingdom
Sedabuk Oil and Gas Industry Limited has been listed among the 100 Safe Companies to Do Business With in Africa for 2025 by Emerging Elites Magazine International, in recognition of the firm’s integrity-driven operations, strict compliance culture, and employee-focused policies.
The award was presented to the Managing Director of the company, Engr. Adunola Oseni, at a ceremony attended by members of Sedabuk’s management and staff, alongside the editorial board and team of Emerging Elites Magazine in Lagos.
Presenting the award, the Editor-in-Chief of Emerging Elites Magazine International, Princess Olivia Chukwuma, said Sedabuk emerged after a “thorough, transparent and merit-based selection process” designed to identify African businesses that exemplify excellence and ethical conduct.
According to her, the 100 Safe Companies to Do Business With in Africa Award is an international initiative created to recognise indigenous African companies with proven records of integrity, safety, and best business practices, noting that awardees are continuously monitored and recertified every three years if standards are sustained.
The MD of Sedabuk Oil and Gas Industry Limited, Engr. Adunola Oseni, poses with the Certificate of Award shortly after the company was recognised among Africa’s 100 safest companies to do business with.
Chukwuma said Sedabuk was selected for its employee-centric culture, stressing that the company has no record of unpaid salaries since inception, maintains fair wages, and prioritises staff welfare through initiatives such as its “One Nutritional Meal a Day” programme, which she described as “rare and commendable” in Nigeria’s oil and gas sector.
She also cited the firm’s zero-tolerance policy for fraud, recalling a June 2022 incident in which a pump attendant was sanctioned for under-dispensing fuel while affected customers were compensated, an action she said “clearly reflects Sedabuk’s philosophy of integrity in service delivery.”
Other factors that earned the company the award, she said, include its reputation for honouring contracts, absence of contract-related court cases, strict adherence to safety standards, and voluntary compliance with regulatory obligations, taxes, and statutory dues without coercion.
“With these attributes and more, Sedabuk Oil and Gas has become a beacon of hope—a new breed of Nigerian company that is trustworthy, valuable, and safe to do business with,” Chukwuma said, as she inducted the firm into the Hall of Fame of the 100 Businesses Safe to Do Business With in Africa 2025.
MD, Engr.Adunola Oseni and staff of Sedabuk Oil and Gas Industry Limited during the presentation of a Certificate of Award by The Emerging Elites Magazine International, honouring the company’s adherence to safety standards and best business practices.
Responding, the Managing Director, Engr. Adunola Oseni described the recognition as “a validation of our core values and a strong motivation to do more,” adding that the award belonged to the entire workforce of the company.
“We will continue to uphold integrity, safety, and transparency in all our operations, remain committed to staff welfare and regulatory compliance, and set standards that others in the industry can emulate,” the Sedabuk boss said.
Sedabuk Oil and Gas Industry on Tuesday reinforced its reputation as a people-centred organisation as it rewarded outstanding employees with cash prizes totalling over ₦10 million at its 2025 Employee Recognition and Awards ceremony held in Lagos.
The event, which attracted over 300 staff members alongside top management officials from across the company’s divisions and subsidiaries, was organised to celebrate excellence, dedication, and loyalty within the Sedabuk workforce.
Speaking at the ceremony, the Managing Director, Engr. Adunola Oseni, described the occasion as one of the proudest moments in the company’s journey, noting that Sedabuk’s steady growth has been deliberately anchored on staff welfare and well-being. She said the company, from inception, made a firm commitment to put its people first, stressing that no organisation can truly thrive if its workforce is neglected.
Oseni disclosed that Sedabuk has never owed or delayed salaries since it commenced operations, describing prompt payment as a mark of respect and responsibility. She added that the company reviewed and increased salaries twice in 2025, improved wages across the board, and sustained its seven-year-old One-Day-Meal Programme to ensure employees do not work hungry.
The managing director announced cash awards spanning retail operations, station-based roles, marts, laundromats, and group-wide excellence categories, explaining that the initiative was not just about financial rewards but about recognising hard work and reinforcing a culture of appreciation. According to her, a loyal and motivated workforce remains the company’s most valuable asset.
She assured staff that management is entering 2026 with stronger welfare policies, better incentives, and more opportunities, with the aim of positioning Sedabuk as one of the best organisations to work in Nigeria. Oseni further urged employees to raise the bar in the coming year by working harder, smarter, and together.
Several employees emerged winners across key categories, including Pump Attendant of the Year, Station Captain of the Year, Mart and Laundromat Excellence Awards, and Special Recognition honours.
The highlight of the ceremony was the Group Chairman’s Spirit of Excellence Award, where Adediran Segun Aderonke emerged Sedabuk Star of the Year with a ₦2 million prize, while Ibiloye Olayinka won the Most Outstanding Employee of the Year award with ₦1 million.
In his remarks, the Group Head, Human Resources and Administration, Mr. Adeleye Olusanjo, lauded the managing director for her consistent leadership and unwavering commitment to staff welfare, assuring employees that more incentives and improved support structures are already being planned for 2026.
The event was attended by senior executives, including the General Manager, Finance and Strategy, Mr. Aderoju Sola; the Group Head, Operations and Logistics, Mr. Rufus Enioshunwa; and the Group Head, Corporate Audit, Risks and Ethics, Mrs. Tolulope Omotola, among others.
Established in 2018, Sedabuk Oil & Gas Industry Ltd operates over 12 petrol stations across Lagos, Ogun, and Oyo states.
The Securities and Exchange Commission (SEC) has raised a red flag over two cryptocurrency products — Zugacoin and Samzuga GPT — warning the Nigerian public to steer clear of them.
In a strongly worded statement issued on Wednesday, the apex capital market regulator described the digital assets as unauthorised crypto schemes with no legal backing or regulatory approval in Nigeria.
According to the Commission, neither the promoters nor issuers of Zugacoin and Samzuga GPT are registered to operate in any capacity within the Nigerian capital market.
“Preliminary investigations revealed that Zugacoin and Samzuga GPT are meme coins,” the SEC said. “Meme coins generally have no use case, intrinsic value, or tangible projects backing them.”
The regulator added that the only perceived value of such coins often stems from aggressive promotion by their creators or community hype, making them prime candidates for “pump-and-dump” fraud — a deceptive scheme where promoters artificially inflate the price of a coin through misleading information before dumping it at peak value, leaving unsuspecting investors with massive losses.
“Once the promoters dump their coins and stop hyping the coin, the coin price typically falls and investors lose money,” the SEC warned.
The Commission urged members of the public to avoid engaging in the purchase or promotion of Zugacoin, Samzuga GPT, or any similar crypto assets, noting that anyone who chooses to invest in such schemes does so entirely at their own risk.
To further safeguard investors, the SEC advised the public to always verify the legitimacy of any virtual, crypto, or digital assets and their promoters through its official platforms:
https://home.sec.gov.ng/fintech-and-innovation-hub-finport/registered-fintech-operators/
www.sec.gov.ng/cmos
This warning is the latest in the SEC’s ongoing crackdown on fraudulent digital asset operations targeting unsuspecting Nigerians amid a rise in crypto-related scams.
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