General
Lagos Begins Reconstruction of 10-Lane Oshodi-Int’l Airport Road
By Dipo Olowookere
Lagos State government on Monday flagged off the reconstruction of the Oshodi-International Airport Road, with a pledge to complete the project within the next fifteen months.
Governor Akinwunmi Ambode had last month at the quarterly Town Hall Meeting held in Badore area of Ajah announced that the reconstruction of the road, which is a major gateway to the country, would commence in September, and that the construction would facilitate the transformation of the road to a world class standard.
Specifically, the design of the project include the reconstruction and expansion of the existing carriage to three-lane Expressway on both directions, construction of two-lane Service Road in both directions, construction of Ramp Bridge to provide a U-turn from Ajao Estate to Airport, construction of a flyover at NAHCO/Toll Gate and drainage works.
Others include the removal of existing pedestrian bridge at Ajao Estate and construction of pedestrian bridges at Ajao Estate and NAHCO/Hajj Camp, construction of Slip Road to provide access to Ajao Estate, construction of lay-bys and installation of street lights, among others.
Speaking while flagging off the project, Commissioner for Waterfront Infrastructure Development, Engr Adebowale Akinsanya, said the commencement of the project was in line with the commitment of the present administration to transform the entire axis, being the major gateway to the country’s commercial nerve centre.
He said the state government took it upon itself to undertake the reconstruction of the road being one of the busiest roads in the state with vehicular volumes averaging 50,000 vehicles daily, and that its poor state was not acceptable for the status of the state as the fifth largest economy in Africa and the nation’s commercial hub.
He said some of the fences along the corridor have been identified to be within the right of way, but that government would minimize the impact of the project on property owners.
He said in order to properly carry along people of the area, a stakeholders’ meeting will hold on Thursday to sensitize the people whereby they will have an opportunity to ask the necessary questions.
He said to fast-track the project, three group of workers will work on the project and they would work day and night, while upon completion, the project will be linked to the Oworonshoki reclamation project, which is also ongoing and is aimed at transforming the corridor to a major entertainment and tourism hub.
The Commissioner, however, urged residents and motorists to cooperate with government while the construction will last, saying that the intention was to transform the area.
“There will be some minor inconveniences but we are going to try to mitigate the impact. The work will be accelerated. The project is to make life easier for everybody. We just want to appeal to people to cooperate with us. We will be here to talk to the people in case of any issue and we are also working with our partner, the Federal Airport Authority of Nigeria (FAAN),” the Commissioner said.
Also speaking, Managing Director of Planet Projects, the firm that designed the project, Mr Biodun Otunola said prior to the commencement of the construction, adequate feasibility studies were carried out, and that the project, upon completion, would facilitate total transformation of Oshodi and International Airport corridor.
He said in as much as there would not be alternative roads created specifically for the project, adequate measures have been put in place to educate the public on the staging that would be developed, saying that the project would be executed in phases, while motorists will make use of other sections of the road during construction work on a particular section.
Mr Otunola, whose company is also handling the construction of the Oshodi Transport Interchange, said by the time the road project and the interchange are completed, the whole axis would have been transformed to world class standard.
“The desire of the State Government under Governor Ambode is to ensure that this whole corridor is turned into an international corridor so that investors and the people can be proud that we have an international gateway that we all can be proud of.
“We are not just building roads, we are thinking of the transportation implication and so there is a bus reform project that is ongoing and every part of Lagos will be connected by bus and that is why this road project will be linked to the Oshodi interchange. So, there will be about 20 lay-bys, bus terminals and so on which are all flowing from the same Master plan for this area,” he said
By Adedapo Adesanya
The federal government has issued a data protection compliance circular to all Ministries, Departments and Agencies (MDAs) to promote public trust through data-driven governance.
The compliance directive is contained in Circular No. 59805/S.I/74, dated 27 July 2026, and signed by the Secretary to the Government of the Federation, Mr George Akume, according to a statement by the Head, Legal, Enforcement & Regulations, Mr Babatunde Bamigboye.
The initiative forms part of a continuum of regulatory measures that will be vigorously pursued as Nigeria advances towards the decisive frontiers of the Fourth Industrial Revolution.
The circular drew the attention of MDAs to a statement of President Bola Tinubu, where he said: “Data is the new oil”.
Mr Akume then directed all Ministries, Extra-Ministerial Departments and Agencies to capture the information rigorously and safeguard it under the Nigeria Data Protection Act, 2023 (NDP Act).
The circular also directed MDAs to ensure full compliance with the NDP Act, Regulations, Guidelines, and Directives issued by the Nigeria Data Protection Commission (NDPC) in relation to the processing of personal data.
To this end, the Circular directs MDAs to, designate suitably qualified officers as Data Protection Officers (DPOs) to oversee data protection compliance and advise management on all matters relating to the lawful processing of personal data, ensure that the names and contact details of their designated DPOs are communicated to the NDPC for registration and official records; engage licensed Data Protection Compliance Organisations (DPCOs), where required, to facilitate compliance with the NDP Act and support the conduct of statutory compliance audits.
It also directed them to provide adequate budgetary allocation for data protection compliance activities, including capacity building, awareness programmes, deployment of appropriate technical safeguards, and periodic compliance audits; and submit all mandatory Data Protection Compliance Audit Returns and other statutory returns to the NDPC within the timelines prescribed by law.
The circular further states that “Permanent Secretaries, Accounting Officers and Chief Executive Officers of all MDAs shall be personally responsible for ensuring institutional compliance with the Circular and the provisions of the NDP Act.”
The National Commissioner/Chief Executive Officer of the NDPC, Mr Vincent Olatunji, expressed the commission’s commitment to supporting data-driven governance.
Mr Olatunji maintained that data accountability is pivotal to achieving the eight Presidential Priorities. To provide full technical support to MDAs for the purpose of achieving compliance, the commission has constituted a regulatory clinic.
By Adedapo Adesanya
Yellow Card, a global stablecoin infrastructure provider, has raised $40 million in a strategic funding round to accelerate its international expansion and strengthen its digital payment infrastructure.
The funding round attracted investments from SC Ventures, the innovation and investment arm of Standard Chartered, Sony Innovation Fund, Polychain Capital, Blockchain Capital, and other strategic investors. With the latest raise, Yellow Card’s total equity financing has now exceeded $120 million.
The company said the fresh capital will be used to scale its Global US Dollar Accounts, an end-to-end dollar account designed for businesses, while expanding the stablecoin payment rails that connect businesses to markets around the world.
Yellow Card’s chief executive, Mr Chris Maurice, described the investment as a strong endorsement of the company’s long-term vision, noting that the company has spent years building infrastructure that allows businesses to move money globally without relying on traditional correspondent banking systems.
He added that the next phase of growth will focus on helping banks connect directly to stablecoin payment rails, enabling faster and more efficient cross-border transactions while expanding access to US Dollar services for businesses.
SC Ventures chief executive, Mr Alex Manson, said stablecoins are becoming an important part of global payments, but noted that widespread adoption will depend on reliable infrastructure and practical use cases.
He said Yellow Card has built the payment rails businesses across Africa need to move money efficiently across borders and expressed confidence in the company’s ability to expand both within Africa and internationally.
The investment also marks growing interest from global institutions in stablecoin-based payments. Sony Innovation Fund said its backing reflects confidence in Yellow Card’s ability to build digital payment infrastructure for emerging markets.
Mr Austin Noronha, Managing Director at Sony Ventures-US, said the company believes Yellow Card is creating the technology needed to help banks, financial technology firms and enterprises move money faster and more securely.
He added that the company looks forward to supporting Yellow Card as it expands beyond Africa into Latin America, the Middle East, Europe and the Asia-Pacific region.
Yellow Card said the funding will also support the wider rollout of its Global USD Accounts, which allow businesses to hold U.S. dollars, manage treasury operations, swap stablecoins, and collect or make payments in local currencies across more than 50 countries.
The company noted that the platform is already being used by major customers, including Visa and Western Union.
Founded to simplify cross-border payments through digital assets, Yellow Card has processed more than $10 billion in transactions across its network. The company supports over 50 currencies and holds licences, authorisations and registrations in 22 jurisdictions across North America, Europe and Africa.
Yellow Card has also established strategic partnerships with global payment companies including Visa, Mastercard, PayPal and Coinbase as it positions itself as a key infrastructure provider for international digital payments.
By Adedapo Adesanya
The National Economic Council (NEC) has approved a $4.5 billion arrangement for the Nigerian National Petroleum Company (NNPC) Limited aimed at strengthening the country’s external reserves and freeing up funds for infrastructure.
This is part of the refinancing of the $3.3 billion Project Gazelle Pre-Export Finance Facility through a new $4.5 billion facility named “Project Gazelle 2”.
The approval allows NNPC Limited to refinance the outstanding balance of approximately $1.5 billion under the original 2023 facility, while unlocking an additional $3 billion in liquidity to strengthen the country’s external reserves and support ongoing fiscal and infrastructure priorities of the government.
NEC’s approval followed a presentation by the Minister of Finance, Mr Taiwo Oyedele, which was presented by the Chairman of the Council, Vice President Kashim Shettima, underscoring the importance of the project.
NEC observed the significance of unlocking additional liquidity to the federation, among other benefits, pledging its support for the actualisation of the initiative.
The Finance Minister explained that the refinancing has been structured on more favourable terms than the original facility, including a reduction in the volume of pledged crude oil from 90,000 barrels of oil per day to approximately 78,750 barrels of oil per day – a 12.5 per cent reduction.
He noted that under the new arrangement, an additional 11,250 barrels of oil per day for the federation will be released, while there will be a reduction in the pledged crude volumes by the state oil company.
Mr Oyedele added that while accessing additional liquidity on improved terms, the arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures.
“The arrangement is freeing up resources for strategic national priorities while strengthening the country’s financing structures,” he said.
VP Shettima called for a responsive, scalable, and data-driven social protection policy to tackle multidimensional poverty in Nigeria.
According to Mr Shettima, government policies are often heard before they are seen, speak through the price of food, condition of hospitals, records in schools, strain on families, the confidence of those who invest their labour in the nation’s future, and, very importantly, the ambitions of state governments.
He implored members of Council to ensure that every decision they make assure the citizens “that their government is paying attention to the pulse of the nation and is resolved to respond with competence, compassion and purpose.”
