General
Lagos Gets FG Approval to Reconstruct Airport Road
By Dipo Olowookere
Federal Government has finally given an approval to the Lagos State government to reconstruct the Lagos International Airport Road, which the state government had longed for.
Secretary to the State Government (SSG), Mr Tunji Bello, in a statement on Wednesday said Lagos State was given the permission to embark upon a total reconstruction of the road by the Acting President, Mr Yemi Osinbajo, a former Commissioner of the state.
Before now, there were speculations that the state Governor, Mr Akinwunmi Ambode; and the Minister of Power, Works and Housing, Mr Babatunde Fashola, the immediate past Governor of the state, were at loggerheads over this issue.
Recently, Mr Ambode publicly said it would have started works on the road from Oshodi, but that the Minister was dragging the approval.
This was immediately refuted by Mr Fashola, who explained that he was not the one frustrating the approval.
In the statement issued today, Mr Ambode thanked the Acting President for his statesman like approach and for fast tracking the process.
“We are very appreciative of the good gesture of His Excellency, the Acting President for acceding to our request which is not only very timely but a very heart-warming one. Posterity will never forget this genuine developmental action,” Governor Ambode was quoted to have said in the statement.
He also described the approval as a 50th birthday to the people of Lagos State, describing it a further demonstration of the determination of the present administration to ensure the effectiveness of the Executive Order on improving the Ease of Doing Business recently signed by the Acting President.
Governor Ambode also gave kudos to President Muhammadu Buhari for providing the enabling environment to attract Foreign Direct Investment into the nation, adding that with the upgrading of the International Airport Road which is the gateway to the nation’s commercial nerve centre, the country will attract new investments.
The Governor had in early March this year, raised an alarm about the present state of the Murtala Muhammed International Airport Road, describing it as a national disgrace that required immediate attention to salvage the nation’s image.
He stated then that the State presently has a design for the reconstruction of the road as well as the funds to embark on the project but was yet to get the go ahead from the Federal Government.
In his words: “The road linking Oshodi to the International Airport, you would all agree with me is a national embarrassment. In the spirit of the regeneration and urbanisation that this administration has set out to achieve, we believe strongly that the image that is exhumed by the decadence of that road must be repaired and we took it upon ourselves to appropriate the 2017 budget that the House of Assembly should approve the total reconstruction of the Airport Road from Oshodi to the International Airport.
“The State currently has a design of 10 lanes to come from Oshodi to the International Airport with interchange and flyover that would drop you towards the Local Airport. The contractor is already set to go and everything as I said has been completed and we already have the cash, but alas we are having challenges with the Federal Ministry of Works and Housing. This is a Federal and not a State road. The Federal Ministry of Works believes that they should do the road, but they have not been able to do it all these years past.”
Governor Ambode had said if given the approval, his administration was ready to hit the ground running and begin construction of the Airport Road within two weeks and finish same within a period of six months.
Besides, the Governor also implored the Federal Government to avail the State of the N2billion appropriated for the Airport Road in the 2017 National Budget to carry out the project.
“I just want to appeal to the Federal Ministry of Works, to let go or reimburse us with whatever it is that they are owing us and even if they are not willing to pay us now, we have the money to do it. It is a national disgrace and we would not be part of it. We would like to do it as part of the celebration of Lagos at 50,” Governor Ambode had said then.
It would be recalled that the Federal Ministry of Power, Works and Housing in its reaction said the delay in granting the request the of Lagos State was because the Memorandum conveying the request of Lagos State which was already before the Federal Executive Council has not reached completion stage.
“The Federal Ministry of Power, Works and Housing Ministry has presented the Memorandum conveying the request of the Lagos State Government to the Federal Executive Council as was done with a similar request by the Kaduna State Government in 2016”.
“Due to the fact that TWO of the roads also connect Ogun State, the Federal Executive Council could not reach an immediate decision on them because it requested the input of the other State Government affected”, the federal ministry explained.
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.”
