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Oyo to Restrict Movement of Trailers, Trucks to 9pm to 6am

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Movement of Trailers

By Modupe Gbadeyanka

There are plans to begin to restrict the movement of trailers, trucks and long vehicles plying certain roads in Oyo State to night only.

This move is to manage smooth commuting, dissipate gridlock and decongest traffic in the state, according to the Special Adviser on Project and Infrastructure, Engr. Seyi Adeleye.

“The decision became necessary so as to curb traffic and fatalities caused by articulated vehicles on roads in the state,” the aide said when he addressed newsmen after a meeting of the State Public Works and Transport Infrastructure Development Committee in Ibadan, the state capital.

Mr Adeleye said to protect citizens, the state will start implementing the restriction and may be pegged from 9:00pm to 6:00am.

He said the Oyo State government is set to draft and implement a new transport policy to make transit easier and less clumsy.

The Special Adviser revealed that the committee has begun working on ways to implement restrictions on trucks and long vehicles to nighttime operations and dedicated routes in the state.

“The transport policy will include night sailing plans for trucks and heavy-duty vehicles, journey management, junction improvement among others to decongest roads during rush hours.

“We have to make plans to both solve the existing traffic gridlocks, and make plans for the impending gridlock that could arise from the economic expansion that the inland dry port will bring as there will be the loading of trucks from the port, and they will need to move to their destination,” Mr Adeleye said.

“We will also design plans that are applicable to our environment as what works in other climes may not work here, so we will come up with solutions that will directly and positively affect our situation,” he added.

Speaking earlier, the Chairman, Oyo State Road Traffic Management Authority, Mr Mogaji Akin Fagbemi, said the Agency will also see to the birth of a post-crash care policy that will enhance first aid while also ensuring quick access to health facilities in case of fatalities.

He applauded the planned implementation of the restriction, saying that such would ease the stress of OYRTMA officials towing vehicles and end the era of unnecessary violence by some of the drivers.

He said the agency will also ensure that traffic is coordinated in internal roads where there is rarely the presence of personnel of the Federal Road Safety Corps (FRSC) in the state.

Mr Fagbemi added that the restriction is part of the government’s efforts to curb consistent road crashes attributed to operations of long vehicles on the road.

The committee is made up of stakeholders from all ministries and agencies that are directly involved in road activities, first aid and traffic management.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Lagos Wants Fewer Cars on Roads to Drive Growth

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economic activities empty lagos road

By Adedapo Adesanya 

The Lagos State Government has reiterated its commitment to creating an eco-friendly state with fewer cars on the roads in the future.

The Lagos State Commissioner for Transportation, Mr Oluwaseun Osiyemi, said this during a presentation at the closing of the fifth Lagos Real Estate Marketplace Conference and Exhibitions in Lagos.

Mr Osiyemi said that the commitment is in line with the T.H.E.M.E.S Agenda of Mr Babajide Sanwo-Olu’s led administration, expressing concerns that traffic congestion costs the state trillions of Naira in budget deficits annually.

The transportation commissioner noted that the heavy reliance on road transportation, which accounts for 90 per cent of travel in Lagos, is unacceptable and unsustainable.

The Commissioner stated that water and rail transportation account for only two per cent of the means of transportation, highlighting their gross underutilisation.

Mr Osiyemi emphasised that every sector in the state must be robust enough to contribute significantly to the wellbeing of its residents, as Lagos accounts for 30 per cent of the nation’s gross domestic product.

He expressed the state’s readiness to maximise the use of intermodal transportation system, to help upscale socio-economic activities in the metropolis and reduce man-hour loss to traffic.

In a panel discussion, the Special Adviser to Governor Sanwo-Olu on Climate Change and Circular Economy, Ms Titilayo Oshodi, emphasised the need for the state and its stakeholders to adopt a purposeful approach to waste management.

Ms Oshodi highlighted the importance of a circular economy in recycling, repurposing and reusing waste effectively.

She noted that several policies were already in place in the state for managing waste, urging producers and manufacturers across various sectors to collaborate with the state government to contribute to carbon reduction efforts.

Other panellists including Ms Stella Okengwu, Chief Executive Officer of Winhomes, said that the current economic situation calls for housing to be built based on clear demand that aligns with people’s budgets while Mr John Oamen, Co-founder of Cutstruct, urged the state government to promote the digitisation of construction procurement.

This, he added, would enhance the efficiency and practices of the construction and real estate sectors.

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Heirs to Introduce Low-Cost Motor Insurance

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Heirs insurance products

By Modupe Gbadeyanka

There are plans by Heirs Insurance to introduce insurance products tailored for vehicle owners, a statement from the underwriting firm has disclosed.

According to the subsidiary of Heirs Holdings, this low-cost motor insurance package known as the Flexi Comprehensive Motor Insurance Plan will provide the benefit of a comprehensive motor insurance plan for a fraction of the cost, addressing the financial realities many Nigerians face.

The underwriting company announced the plan to introduce this package as it launched a new campaign designed to reward its customers.

This initiative themed Unwrapping Smiles will bring hope to individuals, families, and communities this holiday season, and will run from December 10 to December 31, 2024.

It will feature community-focused outreaches, including Christmas gifts and exciting rewards to put smiles on the faces of Nigerians. It will also include the launch of a holiday-watch web film known as The Underwriters for all Nigerians to enjoy.

“At Heirs Insurance Group, we are committed to providing much more than insurance. In a season when many Nigerians seek hope and reasons to smile, we are proud to offer initiatives that inspire and uplift,” the Chief Marketing Officer of Heirs Insurance, Ms Ifesinachi Okpagu, said.

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FG Claims Investments in Presidential CNG Initiative Now $450m

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presidential CNG initiative

By Adedapo Adesanya

Nigeria’s Presidential Compressed Natural Gas Initiative (PCNGi) claims that investments in championing the CNG value chain have hit $450 million.

This was disclosed by Mr Michael Oluwagbemi, Project Director and Chief Executive Officer (CEO), PCNGi, during the 9th Edition of the Nigeria Energy Forum (NEF2024) Day 2, Virtual Event themed Energising Sustainable Industrialisation.

According to the PCNGi CEO, the amount goes into things like mother stations, daughter stations and refuelling stations as well as conversion centres which are starting to spring up across the nation.

Mr Oluwagbemi, represented by Mr Tosin Coker, the Head of Commercial, PCNGi, said the initiative had successfully converted more than 10,000 vehicles from petrol to CNG.

“By 2027, the initiative will have converted more than one million vehicles using petrol to CNG,” he said.

On incidents of explosion of vehicles using CNG, the CEO assured Nigerians that it had taken precautionary measures with different agencies of government to ensure safety.

Mrs Ibironke Olubamise, National Coordinator of the GEF Small Grants Programme (SGP), managed by UNDP, said the SGP was investing in youth energy innovation for economic growth and environmental sustainability.

Mr Daniel Adeuyi, NEF Group Chairman, said, “The event featured three super sessions on Energising Industrial Revolution, Community Climate Action by GEF-SGP UNDP and Clean Energy Innovations.

“The sessions are to share lessons learnt from real-life projects and build capacity of young entrepreneurs and cross-industry professionals.”

Mr Joseph Osanipin, the Director General of the National Automotive Design and Development Council (NADDC), said that the council had trained more than 4,000 auto technicians on how to convert petrol vehicles to CNG.

He said the council had started campaigns to sensitise Nigerians on the advantages of using CNG to power their vehicles.

“CNG can guarantee a cleaner environment, it is cheaper and affordable,” he said.

Mr Oluwatobi Ajayi, the Chairman and Managing Director of Nord Automobile Ltd., said the company was established to tackle the growing demand for vehicles in Africa and reduce import dependency.

He said that because of the Federal Government’s CNG initiative, the company had incorporated it into their vehicle production to meet up with the government policy.

Mr Armstrong Tankan, the Managing Director and Chief Executive Officer, Ministry of Finance Incorporated (MOFI), said that MOFI was set up in 1959 as the statutory vehicle to hold all the assets owned by the federal government.

“Today, we’ve been able to identify the assets the federal government owns and we are trying to track them.

‘We actually do have assets, not just locally but globally as well and we must establish visibility over what the federal government owns before we can start talking about managing them.

“So, we want to try to minimise the waste, minimise the overlaps and help to improve output,” he said.

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