FRSC Cautions Motorists Against Tampering With Speed Limiters

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 Adedapo Adesanya The China Civil Engineering Construction Corporation (CCECC) Limited has promised to complete the Abuja light rail project in eight months, in line with the determination of President Bola Tinubu’s administration to enhance infrastructure development across the country. The Chinese construction firm gave this assurance after a meeting with the Vice President, Mr Kashim Shettima, at the Presidential Villa in Abuja. Mr Shettima described CCECC as part of Nigeria’s history, saying the Chinese construction giant has played a pivotal role in developing Nigeria’s landmark projects, adding that their commitment to the development of Nigeria and Africa is commendable.

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 Adedapo Adesanya * Cost of other alternatives transport soar in Review Month ** Ripples of fuel subsidy spur rise in food, rent, others *** President Tinubu launches palliative measures to cushion effect The average fare paid by commuters for bus journeys within the city per increased by 97.9 per cent from N649.59 in May 2023 to N1,285.41 in June 2023 as Nigerians grapple with a rise in prices after President Bola Tinubu announced the removal of fuel subsidy. This was contained in the Transport Fare Watch June 2023 released by the National Bureau of Statistics (NBS) over the weekend,

**Credit Expansion, Others Buoy Non-Interest Income By Modupe Gbadeyanka The United Bank for Africa Plc this week released its financial statements for the nine months ended September 30, 2019 to the Nigerian Stock Exchange (NSE). During the period under review, the company improved its gross earnings by 14.2 percent to N428.2 billion from N374.8 billion achieved in September 2018 and according to the Group Chief Financial Officer of UBA, Mr Ugo Nwaghodoh, this showed that “bank remains on track to deliver its earnings target for the [present financial] year.” The lender, which boasts of a network that spans 20 African

Buy-to-let property investment has been a top choice for many investors over the years. Providing regular income and considerable capital appreciation, investors will often cite real estate as being able to bring some of the best returns over the last decade. However, is property still a good investment in 2023? What are Investment Properties? Firstly, what is an investment property? An investment property is a piece of real estate purchased with the intention of generating a return. This return could be through rental income, capital appreciation from future resale, or a combination of the two. However, as with all ventures, investing

By Adedapo Adesanya The Nigerian Stored Products Research Institute (NSPRI) has started the distribution of storage facilities to five pilot states of Kwara, Kogi, Niger, Edo and Delta. This was disclosed at the distribution event on Wednesday in Kwara State by Mrs Patricia Pessu, the Executive Director of the Institute. She statedthat the gesture was aimed at adding value and boosting the socio-economic development of farmers in the benefitting states. According to her, the agency has the mandate to conduct researches, build capacities and disseminate research output on post-harvest management of locally produced agricultural crops. She explained that the facilities

By Ashemiriogwa Emmanuel The federal government has commenced the revamping of its Integrated Farm Estate in Ogun State to boost economic activities through agriculture within and outside the state. The farm project, which is executed through the National Agricultural Land Development Authority (NALDA), would be the body’s biggest in fish, poultry, sheep/goat, snails and garri production due to its proximity to the commercial city of Lagos. This is coming after President Muhammadu Buhari successfully commissioned the first NALDA’s Integrated Farm Estate in Daura, Katsina State last month with a directive that all abandoned farm estate be recovered and reactivated as

By Adedapo Adesanya Shell-funded impact investment company, All On, has announced a $500,000 investment in Greenage Technologies Power Systems Limited to fund the construction and expansion of its charge controller and inverter manufacturing facility in Enugu State in South-Eastern Nigeria. “We’re delighted to receive this support from All On that will reduce the cost of solar energy components through local manufacturing,” said Mrs Ogechukwu Uchechukwu, co-founder and Head of Business Development, Greenage Technologies. “This investment will help Greenage realize its aim of becoming Africa’s largest solar electronics manufacturer by doubling its existing manufacturing capacity for inverters, charge controllers, and the

By Ashemiriogwa Emmanuel The Nigerian Exchange (NGX) Limited has said it sees the advent of financial technology (fintech) in the country as a potential partner to capital market infrastructure providers in building a digital economy. This was disclosed by the Chief Executive Officer of NGX, Mr Temi Popoola, during the 2021 Chartered Institute of Stockbrokers national workshop held recently in Abuja. Represented by the Divisional Head, Trading Business at NGX, Mr Jude Chiemeka, he noted that fintech companies focus on specified products and services, automating and commoditizing high margin processes, and strategic use of data which brings about transformation in

By Dipo Olowookere The nation’s stock market reached a level it last hit about eight months ago with a 3.54 percent growth on Wednesday, January 8, 2020. Since the beginning of this year, Nigerian stocks have been acting like they are on steroid, maintaining positive trajectory as a result of renewed buying interests from investors, who are being pissed off by rates in the fixed income market. Last week, the Central Bank of Nigeria (CBN) offered treasury bills to subscribers at 3.5 percent and with inflation at nearly 11.90 percent, investors are looking elsewhere to put their money and the