CCECC Targets Q2 of 2024 for Completion of Abuja Light Rail

By Bliss Okperan The Third Mainland Bridge in Lagos will be closed for two Sundays to allow for repairs on the bad portions of the facility, the Lagos State government has said. The federal government is partnering with the state government to fix the bridge, which was built in 1990 by a former Military President, General Ibrahim Babangida. As a result of the repairs, the bridge will be shut down, with traffic diverted to other routes, according to a statement issued by the Ministry of Transportation in Lagos State. These measures were due to recurring accidents caused by potholes and

By Bliss Okperan Some commercial bus drivers in Lagos popularly known as Danfo drivers, have commenced a warning strike to kick against alleged extortions by operatives of the Lagos State Traffic Management Authority (LASTMA). Business Post gathered that the bus drivers refused to convey passengers to their various destinations across the metropolis, leaving many of them stranded at bus stops. The situation affected some workers, who could not get vehicles to take them to their different places of work because of the actions of the aggrieved motorists. It was gathered that only a few of the commercial motorists were working

By Adedapo Adesanya After years of delays and extensions, the Lagos Blue Line Rail has begun commercial operations, with Governor Babajide Sanwo-Olu taking the first ride this morning (September 4). The first phase of the rail line extends from Marina to Mile 2 with five stations located in Marina, National Theatre, Iganmu, Alaba, and Orile. Operations commenced from Marina to Mile 2 Train Station, with Mr Sanwo-Olu taking the first ride at about 09:45 am. He was joined by some select persons, including the Commissioner of Police for the state, Mr Idowu Owohunwa; the First Lady, Mrs Ibijoke Sanwo-Olu; the

By Dipo Olowookere President of the African Development Bank Group (AfDB), Mr Akinwumi Adesina, has launched the Presidential Youth Advisory Group (PYAG) to provide insights and innovative solutions for job creation for Africa’s youth, as outlined in the Bank’s Jobs for Youth in Africa Strategy (JfYA). The Jobs for Youth in Africa initiative aims at creating 25 million jobs and impacting 50 million youth over the next ten years by equipping them with the right skills to get decent and meaningful jobs. It is currently the largest effort going on for youth employment in Africa today. The advisory group, inaugurated

By Dipo Olowookere The Nigerian authorities have commenced investigation into the role of directors of the defunct Skye Bank Plc in the financial mess of the company. Over a week ago, Skye Bank was nationalised into Polaris Bank Limited by the Central Bank of Nigeria (CBN). The lender collapsed after it could no longer meet its basic functions, resulting in the revocation of its operating license. Business Post reports that the central bank had taken over affairs of the financial institution in 2016 following its huge non-performing loans (NPLs). Speaking last week in Lagos, Managing Director/Chief Executive Officer of Nigeria

By Dipo Olowookere The N668.9 billion generated in the month of May 2018 has been shared to the three tiers of government after series of disputes over the funds. The inability of the Federation Accounts Allocation Committee (FAAC) to disburse the revenue the federal, states and local governments has made it impossible for state governments to pay salaries to their workers. There have been disagreements over the amount submitted by the Nigerian National Petroleum Corporation (NNPC) to FAAC with state governments accusing the oil agency of under-remitting revenues. Director of Information at the Federal Ministry of Finance, Mr Hassan Dodo,

By Adedapo Adesanya Nigeria’s supply of Liquified Petroleum Gas (LPG) also known as cooking gas declined by 20.5 per cent in August 2021 to 85,264.803 Metric Tonnes (MT) compared with the previous month. This was disclosed by the Petroleum Products Pricing Regulatory Agency (PPPRA) in its LPG report released in Abuja. The decline came as companies desperately sought suppliers in different countries including the USA, Algeria, Equatorial Guinea to meet the local shortfall. The data showed that 38,040.457 MT was sourced locally by Ever Oil, Stockgap, NIPCO, 11 plc, Greenville Natural Gas, PNG Gas Ltd, Nigerian Petroleum Development Company (NPDC)

By Adedapo Adesanya Crude oil prices rose more than 4 percent on Friday, closing the week positive and resulting into a second straight weekly gains since the commencement of the production cut deal signed to reduce the supply glut facing the oil market. Last night, the Brent crude gained 4.79 percent or $1.41 to sell at $30.87 per barrel, while the US West Texas Intermediate (WTI) crude rose by 4.25 percent or $1.00 to trade at $24.54 per barrel. Prices improved yesteerday as US producers rapidly shut crude production with reports showing that North American oil companies have shut production

By Dipo Olowookere Thorough bred banking professional with outstanding record of achievements, Ms Hadiza Ambursa, has been elevated by her employers, Access Bank. The brilliant banker was recently appointed as the lender’s Executive Director, Commercial Banking, North. This information was conveyed in a statement issued on Monday, December 4, 2017. Already, her appointment has been approved by the Central Bank of Nigeria (CBN). Ms Ambursa, until her appointment, was the General Manager and Group Head, Commercial Bank, North and Non-Executive Director in Access Bank (Gambia) Limited. She has over 20 years banking experience from Guaranty Trust Bank and Access Bank

By Adedapo Adesanya The United Nations Food and Agriculture Organisation (FAO) said the price of food rose in July 2023, led by a solid rise in the vegetable oils price index, partially offset by a significant decline in the sugar price index, together with small decreases in the price indices for cereals, dairy and meat. The FAO Food Price Index (FFPI), released on Friday, showed that food prices averaged 123.9 points in July 2023, up 1.5 points (1.3 per cent) from June but remaining 16.6 points (11.8 per cent) below its value in the corresponding month last year. The FAO

By Sodeinde Temidayo David I’m sure you know that catfish farming in Nigeria has become one of the most commonly practised fish farming businesses, with a lot of back benefits. The high demand and consumption of fish have made the business very profitable if well-managed. Catfish farming has become one of the fastest-growing areas of animal food production. Gone were the days when the only means of getting fish was by catching it in the local rivers, ponds or from fishermen. About half of the fish consumed in Nigeria are now raised in artificial environments. If you are looking forward