By Modupe Gbadeyanka
On Monday, Lagosians were surprised to hear the news of the cancellation of the deal signed to construct a Fourth Mainland Bridge, connecting the mainland of the state to the Island.
The signing of the Memorandum of Understanding (MoU) with a consortium of firms and the state government on May 25, 2016 was applauded by many, who strongly believe it would ease the flow of traffic on the Third Mainland Bridge, built by the then Military President, Mr Ibrahim Babaginda (IBB) over 25 years ago.
When the deal was signed by both parties last, it was disclosed that the bridge would cost about N844 billion with a length of 36 kilometres.
The news of the termination of the MoU was announced yesterday by the Commissioner for Waterfront Infrastructure Development, Mr Adebowale Akinsanya during a ministerial briefing in Alausa, Ikeja.
Explaining the decision of the state government to cancel the deal, Mr Akinsanya said it was due to the slow pace of work on the project by the consortium.
“Due to slow pace of work, the contract was terminated and we are now looking at many investors, though interest is very high,” the Commissioner told newsmen on Monday.
The project was to be financed by the Africa Finance Corporation (AFC), Access Bank, and other private investors, while the project was to be coordinated by Visible Assets Limited, which has MrIdowu Iluyomade as its Executive Chairman.
Supreme Court Affirms Ahmad Lawan as APC Yobe North Senatorial Candidate
By Dipo Olowookere
The president of the senate, Mr Ahmad Lawan, has been affirmed as the candidate of the ruling All Progressives Congress (APC) for the Yobe North Senatorial District.
At a ruling delivered on Monday, February 6, 2023, the Supreme Court nullified the candidacy of Mr Bashir Machina.
Mr Machina and Mr Lawan had been at loggerhead over the party’s ticket for the slot.
The Senate President had contested the APC presidential primary along with the eventual winner of the exercise, Mr Bola Tinubu, and was said to have pushed forward Mr Machina as a placeholder.
However, after he lost in his bid to become the presidential candidate of the party, he turned to Mr Machina, who refused to back down, stressing that it was his turn to represent the senatorial district at the National Assembly and that the Senate President never participated in the party’s primary.
The number three citizen of the country had earlier accepted his fate, but his party took the matter up until today’s judgement, which has restored his hopes of remaining in the upper chamber of the parliament.
Justice Centus Nweze, in the lead judgement, faulted the approach of Mr Machina in commencing the suit at the Federal High Court Damaturu division by way of originating summons and without oral evidence to prove allegations of fraud.
Boss Mustapha Not Working Against Tinubu—APC Group
By Modupe Gbadeyanka
A support group of the ruling All Progressives Congress (APC) known as the APC Mandate Defenders (AMD) has denied claims that the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, was working against the presidential candidate of the party, Mr Bola Tinubu.
In a statement signed by the National Publicity Secretary of APC Mandate Defenders, Mr Ifeanyi Emeka, the organisation said Mr Mustapha supports the candidacy of the former Governor of Lagos.
He stated that the allegations made against the SGF by another support group of the ruling party, Concerned APC Stakeholders (CAS), were false, describing Mr Mustapha as a well-respected party leader who has great respect and close relationship with Mr Tinubu right from when he was the Deputy National Chairman of the defunct Action Congress of Nigeria (ACN) for Northern Region and would not engage in any real or imaginary plot to sabotage the electoral chances of the APC and its candidate.
According to him, the SGF is preoccupied with the task of meeting the demands of the transitional period, which mostly rests on his office as a frontline secretariat for the presidency as the administration gradually winds down and does not have the time to work against Mr Tinubu.
AMD asked CAS to tell Nigerians how following due process in board appointments for federal government agencies amounts to sabotaging the electoral chances of the party and its candidate in the forthcoming presidential election.
Recall that the SGF had advised Nigerians to be wary of scammers who use his name and office to dupe people while promising them non-existing government appointments.
“Therefore, we urge Nigerians and party members across the federation to ignore the allegation against Boss Mustapha as he cannot be forced into providing appointments to people by threats of blackmails as such responsibility rests squarely on the desk of Mr President and Commander-in-Chief.
“Associating such frustration with the campaigns of the presidential candidate of our great party, Senator Bola Tinubu, by CAS is a diversionary tactic against the overall interest of our party and Nigeria as a nation,” a part of the statement said.
Violent Protest Erupts in Ibadan Over Naira Scarcity
By Aduragbemi Omiyale
There are reports of a violent protest in Ibadan, the Oyo State capital, over the scarcity of old and new Naira notes, Business Post has gathered.
It was learned that residents of the ancient city are venting their anger over the hardship caused by the policy of the Central Bank of Nigeria (CBN) and the federal government.
The central bank redesigned the N200, N500, and N1,000 notes and asked citizens to return their old banknotes because they would cease to be legal tender.
However, since the introduction of the new currency notes in circulation on December 15, 2022, many Nigerians have not been able to withdraw their money from banks, fuelling anger in the land.
On Friday afternoon, some residents of Ibadan, especially in Iwo Road, took to the streets to express their frustration at the development, which is coming at a time consumers have to queue for petrol.
They had bonfires on the road and disrupted business activities in some areas of the city.
Recall that today, the Governor of Oyo State, Mr Seyi Makinde, announced the suspension of his campaign activities over the scarcity of Naira and fuel.
Also on Friday, the Governors of the ruling All Progressives Congress (APC) met with President Muhammadu Buhari to appeal to him to change his mind on the Naira swap policy because of the effect on the people and the 2023 general elections starting later this month.
The President had earlier been asked not to show up in Kano State because of fears of a violent protest over the development. After the deadline was moved forward, the Governor of the state, Mr Abdullahi Ganduje, said he was safe to visit the ancient city.
However, during his visit to Kano, there were reports of a demonstration, with a chopped stoned by some residents of the state and convoys attacked by angry protesters.
The government claimed the protest was not directed at President Buhari, while the opposition party, Peoples Democratic Party (PDP), said otherwise.
Latest News on Business Post
- Checkmating The LGBT Incursion In African Politics: The Nigerian Case Study And Consequences February 6, 2023
- NGX Upgrades Price Stock Group of Eterna February 6, 2023
- Unlisted Securities Investors Gain N18.29bn in Five Days February 6, 2023
- Nigerian Banks Take Steps to Quicken Flow of Naira Notes, Deny Hoarding February 6, 2023
- Supreme Court Affirms Ahmad Lawan as APC Yobe North Senatorial Candidate February 6, 2023
- Nigeria’s External Reserves Shed 0.14% to $37.020bn February 6, 2023
- DMO Commences Sale of FGN Savings Bonds for February 2023 February 6, 2023
- Analyst Advises Investors to Pay Attention to Tier-2 Banking Stocks February 6, 2023
- International Energy Insurance Gains 57.14% in One Week February 6, 2023
- Congolese Leader Patrice Lumumba Back to Russian University February 6, 2023