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FG To Award Lagos-Calabar Coastal Highway To Hitech



The Minister of Works, Mr David Umahi, on Saturday, opened discussions with Hitech Construction Company Ltd. on the proposed Lagos-Calabar Coastal Highway

Umahi, during a meeting with engineers from the Federal Ministry of Works and the contractor’s team in Lagos, said the project would boost interconnectivity to link the entire nation.
He said the project was huge, ambitious, and showed the commitment of President Bola Tinubu to the restoration and rapid development of the Nigerian state.
He said the president was in a hurry to fix Nigeria and begin the Lagos-Calabar Coastal Highway project.

The minister said the meeting with the contractor was the first and another meeting to be held in a fortnight would be to close deals for commencement of construction.

He said the project was a Public Private Partnership to be tolled upon completion, adding that the contractor had already sourced the money to execute the project.
Umahi explained that the project would be constructed in phases and the completed portions would be put to use and tolled.

He said the proposed highway would link the Lagos-Badagry Expressway super highway, connect the proposed Fourth Mainland Bridge, Lekki Deep Sea Port Road, link Ogoja-Ikom to connect five points in Northern Nigeria.
He said the road had an initial design length of about 650 to 700kms and rail lines components that would run in the middle of the main carriageways.
He said the project would promote tourism, and have industrial clusters including hotels, factories, housing estates, and several other facilities.
“It is quite innovative and the giant of Africa is beginning to show her prowess and this is being revitalised by the captain of the ship, his excellency President Bola Tinubu.
“So, this is beautiful. Another good news is that this is going to be built on a concrete road of 11 inches thick with 20-millimeter reinforcement,” he said.

He said concrete construction would give opportunity to local cement manufacturers, boost steel production from Ajaokuta, as well as explore Nigeria’s huge bitumen.
Umahi, who is a civil engineer, said the project would have challenges because it would pass through mangroves, mashy areas, flood plains and all kinds of land and soil types.

*President Bola Tinubu

“And so, there will be a combination of all kinds of construction methods, the deck on pile would be there, the sand filling would be there, the retaining walls would be there.

“So, it’s a very ambitious project, quite technical and highly rewarding.
“So, the second meeting will come up in two weeks where the business case study will be exposed to us and we will give them a letter to own the project and then to engage in the design.
“The Lagos-Port Harcourt-Calabar Coastal Highway is the first of its kind in the whole of Africa,” he said.
Consultant to Hitech, Nicholas Rizk, said the construction methods chosen were suitable for countries with large landmass like Nigeria.
Rizk said the project corridor transversed various topographical areas, hence the need to capture all economic and social peculiarities of people along the project alignment.
He said the road would take off from Victoria Island near Eko Atlantic City through the Lekki Coastal Road, then Lekki Free Trade Zone and the Dangote Refinery to link Ogun, Ondo, Delta, Edo up till Calabar.
“We are connecting nine states and this road.

“In addition to the integration at the national level for South West and South East, South-South and Niger Delta, it connects with the Federal Roads going from Lagos to Sokoto.
“From Warri to Kaduna, from Port Harcourt to Kano-Maiduguri and from Calabar to Maiduguri.
“So, basically, as the Minister mentioned, we have this coastal highway that is more or less 10 to 12 kilometres away from the shorelines to consider the issue of erosion and the sensitive environmental areas,” he said.
He explained how health, safety, and environmental factors were considered in the project as it passed oil-producing areas through Brass, Calabar to connect the East-West corridor through Lagos to Abidjan and also the North.
He also explained the rail components of the project, the measurements and other dimensions of the major carriageways as well as links to major ports in the nation.

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MWUN Congratulates PTML Management On Acquisition Of MV Great Lagos



*MV Great Lagos

…Describes ship as a marvel of modern engineering

The Maritime Workers Union of Nigeria (MWUN) under the leadership of its President-General, Comrade Adewale Adeyanju, has congratulated the Managing Director of Grimaldi Shipping Company, Mr. Ascanio Ruso, and his management for acquiring “MV GREAT LAGOS”, noting that it is the first of its kind in Nigeria.

The ship is described as a marvel of modern engineering with functions of environmental consciousness built to meet the challenges of modern-day technology in the maritime industry.

“This suffices to say that Ascanio Ruso is one of the best maritime administrators in Nigeria, who treats workers in his employ with humane and dignity for labour,” Adeyanju, a Prince of Ibaan further stated.

NLC: MWUN President-General, Adeyanju, to vie for Deputy National President post

“I wish to categorically state here again that Mr. Ascanio is a wonderful Managing Director with a human face and one of the foremost employers of labour in the industry. Your blood flows with genuine intentions of fair treatment to workers’ welfare in the maritime space.

*MV Great Lagos

“We in the Maritime Workers Union of Nigeria Congratulate you on this laudable milestone achievement. Once again, we say congratulations to Mr. Ascanio Ruso and your management team,” Prince Adeyanju said.

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Makinde Presents N434.2bn 2024 Budget Proposal For Oyo State



PDP’s Agboworin wins House of Representatives re-run election in Oyo

 Gov. Seyi Makinde of Oyo State on Tuesday presented a budget of N434.2 billion for 2024 to the State House of Assembly for consideration and approval.

According to Makinde, the budget is made up of N222.3 billion for capital expenditure, and N211.8 billion for recurrent expenditure.

Presenting the budget tagged: “Budget of Economic Recovery”, the governor said the capital expenditure is 2.4 percent higher than the recurrent expenditure.

He added that the 2024 budget was estimating an increased Internally Generated Revenue of N72 billion with an average of N6 billion monthly.

Education gets the highest share of the budget with N90.6 billion or 20.8 percent of the budget, followed by Infrastructure which gets N74.3 billion or 17.1 percent of the appropriation bill.

The health sector takes the third position with N40.9 billion, which is 9.4 percent and Agriculture has N15.8 billion, which is 3.6 percent of the total budget proposal.

PDP’s Agboworin wins House of Representatives re-run election in Oyo

*Governor Seyi Makinde

He promised that the 2024 budget would cover projects, policies, and actions “which when implemented will cushion the effect t of the hardship the people are facing as a result of fuel subsidy removal.”

Makinde further said that his administration would continue to use technology to block loopholes, saying his government has no plan to increase taxes.

He urged the House of Assembly to see to the speedy passage of the budget proposal for the state’s economic growth and benefit of the people of Oyo State.

Responding after the presentation, the Speaker of the House of Assembly, Mr ‘Debo Ogundoyin (PDP Ibarapa East) assured the governor of speedy consideration of the Appropriation Bill.

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Reps Committee Issues Warrant Of Arrest On CBN Governor, Others



..Following their alleged refusal to appear, four times when invited

The House of Representatives Committee on Public Petition has issued a warrant of arrest on the Central Bank Governor, Mr Olayemi Cardoso, the Accountant General of the Federation, Mrs Oluwatoyin Madein, and 17 others for refusing to appear before it to answer questions on their operations.

This followed the adoption of a motion by Rep. Fred Agbedi (PDP-Bayelsa) at the committee’s hearing on Tuesday.

Moving the motion, Agbedi said that the arrest warrant had become inevitable following the attitude of the invitees.

He said that the parliament worked with time and the CEOs had been invited four times but failed to respond.

He said that the CEOs should be brought to appear before the committee by the Inspector General of Police through a warrant of arrest after due diligence by the Speaker, Rep. Tajudeen Abbas.

Forex inflow: CBN tasks banks to support indigenous companies

In his ruling, the Chairman of the committee, Rep. Micheal Irom (APC-Cross River)  said that the I-G should ensure the CEOs were brought before the committee on Dec. 14.

Earlier, the petitioner, Mr Fidelis Uzowanem, said that the petition was anchored on the Nigeria Extractive Industries Transparency Initiative (NEITI) report of 2021.

He said that the report was a summary of the transactions in the oil and gas industry for 2021 which NEITI could to be challenged.

“We took up the challenge to examine the report and discovered that what NEITI put together is a report is only a consolidation of fraud that has been going on in the oil and gas industry.

“It dates back to 2016 because was have been following and we put up a petition to this committee to examine what has happened.

“The 2024 budget of 27.5 trillion that has been proposed can be confidently be funded from the recoverable amount that we identified in the NEITI report.

“It is basically a concealment of illegal transactions that took place in NNPCL, they have been in the sink with some oil companies where some companies that did not produce crude were paid cash call, an amount paid for crude oil production,” he said.
He added: “We also found that the cash core payment was used as a channel for laundering funds by NNPCL and we found out that NEITI was able to conceal it in its report.

“In 2021 NEITI reported that Total Exploration and Production Nigeria-Ltd was paid 168 million dollars but examination of submission by the company shows that it received 292 million dollars.

“In other words, 124 million dollars were laundered by NNPCL through Total because monies that have been officially paid to Total could not have been concealed if it were not meant for fraudulent purposes.

“Also for Chevron, the dollar payment NEITI puts forward in its report was 76 million dollars but document emanating from Chevron showed that they received as much as 267 million dollars.”

“In other words, 191 million was laundered under the cover of Chevron and NEITI concealed that; also, Nigeria Agip Company received 188 million dollars but none of it was reported by NEITI”.

Some of those to be arrested were the Chief Executive Officer of National Petroleum Investment Management Services (NAPIMS), that of Ethiop Eastern Exploration and Production Company Ltd, as well as the CEO of Western Africa Exploration and Production.

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