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 Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has explained why it initiated a move to freeze the bank account of the Osun State government.
Earlier on Wednesday, the Governor of Osun State, Mr Ademola Adeleke, claimed that the anti-money laundering agency asked one of its bankers, First Bank, not to release funds to the state government.
According to the Governor, this was part of the strategies to frustrate his administration ahead of the August 15, 2026, governorship election in the state.
Reacting to the issue on Wednesday night, the EFCC, in a statement, said it has been investigating the state government since March 2026 over an alleged “fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) account to the tune of N11.0 billion.
The organisation noted that some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“The commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved,” parts of the statement said.
In the disclosure, the agency noted that its preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources, stressing that it cannot “watch idly while a state government’s account is being pillaged.”
“While the commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions,” it pointed out.
The EFCC disclosed that it is “keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the commission to ensure accountability and probity. The commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”
The organisation urged the public “to ignore false narratives and deliberate demonisation of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the commission.”
By Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has launched a mobile application designed to monitor fuel consumption patterns in real time across retail outlets nationwide.
The NMDPRA, established under the Petroleum Industry Act (PIA) 2021, is responsible for the technical and commercial regulation of Nigeria’s midstream and downstream petroleum operations. The deployment of the mobile application aligns with the authority’s broader efforts to leverage technology to improve regulatory compliance and strengthen accountability.
The pilot phase of the project began on August 1 in Abuja and its six Area Councils, the authority said in a statement published on X.
As part of the rollout, the Executive Director for Distribution Systems, Storage and Retailing Infrastructure (DSSRI), Mr Ogbugo Ukoha, led a team alongside officials from the Abuja Regional Office to assess the readiness and operational performance of the digital platform at participating retail outlets.
According to the NMDPRA, the application captures inventory and compliance data in real time, enabling regulators to monitor fuel distribution more effectively while improving operational efficiency across the sector.
The authority said the platform would generate reliable, data-driven insights to support evidence-based decision-making, strengthen national energy security planning and enhance transparency in the downstream petroleum industry.
It added that the initiative is expected to provide significant value to government, investors, operators and other stakeholders by improving access to accurate fuel consumption and compliance data.
Nigeria’s downstream petroleum sector has undergone significant changes since the deregulation of the petrol market and the removal of fuel subsidies, with regulators placing greater emphasis on data-driven supervision to ensure product availability, prevent supply disruptions and discourage sharp regional disparities in distribution.
By Modupe Gbadeyanka
No doubt, moving money among African markets remains a slow, fragmented process that relies on multiple intermediaries and prolonged settlement cycles.
To solve this issue and drive the development of stablecoin-enabled payment services for businesses across the continent, Onafriq has joined forces with a leading stablecoin infrastructure provider, Privy.
The collaboration will enable Onafriq to create and manage embedded digital asset solutions for its partners and, in time, institutional clients where regulation allows. The initial phase focuses on cross-chain stablecoin transfers and treasury and settlement workflows, creating the foundation for future cross-border payment and liquidity solutions.
Integrating Privy’s secure infrastructure enables Onafriq to build the capabilities required to support a new generation of efficient digital payment services for banks, fintechs, and mobile money operators.
This partnership is a key component of Onafriq’s broader strategy to modernise pan-African payment infrastructure, enabling secure multi-modal wallets and more efficient movement of value across the continent.
The outcome will support a range of future institutional use cases, including stablecoin-enabled settlement, treasury management and liquidity services, as it reflects Onafriq’s commitment to driving Africa’s digital transformation agenda by investing in technologies that make financial services more efficient, connected and accessible.
It was gathered that Onafriq selected Privy for its enterprise-grade infrastructure to enable the seamless integration of digital asset wallet capabilities into its products, subject to regulatory approval, and deliver a simple user experience while abstracting the complexity of blockchain technology.
“At Onafriq, we keep investing in technology that makes payments faster and more accessible. Privy gives us a building block for faster settlement and better liquidity management. As demand for digital asset services grows, our goal is to ensure Africa’s payment ecosystem benefits securely and in line with regulatory frameworks,” the Group Chief Product and Innovation Officer at Onafriq,” Mr Luke Kyohere, said.
The chief executive of Privy, Mr Henri Stern, said, “Stablecoins will play an increasingly important role in the future of global payments, but real-world adoption depends on infrastructure that is secure, scalable and simple to implement. Working with Onafriq allows us to help build that foundation across Africa and beyond.”
