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Third Mainland Bridge for Another Repairs

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By Adedapo Adesanya

Third Mainland Bridge will undergo another phase of repair as traffic arrangements are ongoing, the Federal Controller of Works in Lagos, Mr Adedamola Kuti has revealed.

Mr Kuti disclosed this in Lagos stating that the results of investigative tests on the bridge were ready and that contractors would move to site at the completion of the traffic management architecture.

“Any moment from now, once I get our traffic plans approved, we may be announcing to the world again that we are now ready to fix Third Mainland Bridge based on investigative tests we had last year.

“Meanwhile, we have already completed the resurfacing, the markings, such that you can now drive on Third Mainland bridge smoothly.

“We are also going to repair some of the piles or pillars carrying the bridge; that is the next phase that we are doing; so work will soon begin on Third Mainland Bridge,’’ he said.

The Controller of Works said that this was part of the Muhammadu Buhari-led administration committment to fixing infrastructure in Lagos and was evident in the number of bridges that had been repaired in the state,

“This government has very good plans for bridges. Since I came on board, about a year ago, we have completed maintenance and repair works on Leventis Bridge damaged by fire in 2016 where a whole deck collapsed.

“We have also completely repaired the Ijora-7Up Bridge; Coconut Bridge repair has been completed, the burnt Marine Beach Bridge repair has been completed and, as I speak, maintenance work is ongoing on the Independence Bridge on the Island.” He said.

Mr Kuti also revealed that many more bridges were receiving necessary attention:

“Work is ongoing on the Dorman Long Bridge, you can drive smoothly on it now and all the guard rails and expansion joints are being replaced.

“Work is ongoing on the Ojuelegba Bridge as well as Alaka Bridge,’’ he added.

According to him, although procurement issues affected project delivery, there are enough materials from Alaka Bridge expansion joint works to repair adjoining bridges on the Apapa-Ijora axis.

The controller said he had given instruction to a contractor to move to site to rehabilitate a portion of the Apapa Bridge.

“I have a project on the Alaka Bridge. Work is going on there.

“That Alaka Bridge goes into Iganmu, the contractor has done a lot of work there. They have done the resurfacing; they have milled the old ashphalt and are replacing the expansion joints.

“There is another expansion joint beside it. If you are coming in from Surulere and going to Alaka, the intersection is between Iganmu and Eko Bridge, I gave instruction to fix it.

“Also, at the intersection outwards Apapa and inwards Apapa from Costain area, there is a very bad expansion joint, I just gave instruction to fix it,” Mr Kuti said.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Afreximbank Backs Atmin to Finance, Boost African Oil Trading

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Africa Trading Minerals Atmin

By Adedapo Adesanya

African Export-Import Bank (Afreximbank) has backed plans to set up an oil trading house called Africa Trading Minerals (Atmin), which will finance the purchase of refined petroleum products by African and Caribbean oil buyers.

The bank has invested $3 billion in the trading house, which it expects to finance about $10 billion to $14 billion of Intra-African petroleum imports.

Atmin will be based in Dubai, the United Arab Emirates, and is expected to have around 15 employees.

It will start with crude and then expand into oil products and minerals, according to reports.

Afreximbank will be a controlling shareholder at Atmin, while employees will own some 15 per cent of the firm.

The move takes place as oil majors and Western banks retreat from Africa, and the continent is facing a decline in oil and gas production due to under-investment, while also spending $30 billion annually on fuel imports.

It is also seeking to address Africa’s persistent reliance on imported refined petroleum products, which accounted for an amount of $30billion annually in petroleum import costs due to inadequate refining.

Key products to be traded are refined petroleum products including but not limited to Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), Heavy Fuel Oil (HFO), Jet Fuel, and Kerosene. The eligible exporters are refineries operating in Africa.

According to Reuters, Atmin will be run by Mr Ajay Oommen,a former Shell executive who worked for the oil major for for 17 years as well as Mr Vikram Thakur, who worked for 18 years at Shell, including in business development, trading origination and structured finance, as well as Mr Joseph Kanaan, a trader at Shell for 11 years.

Speaking on this, Mr Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, said that the development will have a direct impact on the volume of the refined petroleum products produced and consumed in Africa.

“It will also have a multiplier effect on the downstream petroleum value chain as it will catalyse critical investments in shipping and marine logistics for intra and extra African trade of crude oil and refined products.

“The multiplier effect will also be seen in marine cargo insurance and other ancillary businesses within the sector. We want to see an increased proportion of the about 4 mbpd of crude oil produced in the Gulf of Guinea refined in Africa,” he said.

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EFCC Grills E-Money for Spraying Foreign Currency

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E-Money spraying money

By Modupe Gbadeyanka

A popular Lagos-based socialite, Mr Emeka Daniel Okonkwo, otherwise known as E-Money, has been apprehended by the Economic and Financial Crimes Commission (EFCC).

The younger brother of a well-known musician, KCee, whose real name is Mr Kingsley Okonkwo, was reportedly arrested by the agency on Monday night at his residence at Omole Estate, Lagos.

He was accused of spraying foreign currency at a public function recently, an act believed to be against the Foreign Exchange Act.

At the time of filing this report, the EFCC has not reacted to reports of E-Money’s arrest.

The organisation is said to be looking into the matter with a view to prosecuting the socialite for the alleged offence.

He was said to have been flown to Abuja for questioning and should be taken to court to face the full wrath of the law if the agency is certain that he has committed an offence.

Recall that some days ago, E-Money was at the 50th birthday of another socialite, Mr Obinna Tochuukwu Iyiegbu, otherwise known as Obi Cubana, in Abuja.

He was also spotted at the wedding ceremony of Iyabo Ojo’s daughter in Lagos.

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Nigeria Issues 867 Mining Licences in Q1 2025

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Nigeria's mining sector

By Adedapo Adesanya

Nigeria’s Mining Cadastral Office (MCO) says it processed 955 applications for mineral title grants but approved a total of 867 licenses during in the first quarter of 2025.

The Minister of Solid Minerals, Mr Dele Alake, made the disclosure in a statement, saying the licenses included 512 exploration licenses, 295 small-scale mining leases, 60 quarry leases, and 5 mining leases.

He revealed this as he announced that the government generated over N6.95 billion in mining fees and registered 118 new private mineral buying centres in the period under review, in what has been described as a major leap toward reforming Nigeria’s mining sector and attracting new investments.

According to him, the achievements reflect the government’s aggressive push to reposition the sector and raise its global competitiveness.

In a related mining development, Nigeria and South Africa last week signed a Memorandum of Understanding (MoU) aimed at strengthening cooperation in the mining sector, with a focus on investment, knowledge sharing and technology transfer.

The agreement, which falls under the Nigeria-South Africa Bi-National Commission framework, was signed in Abuja by South Africa’s Minister of Mineral Resources and Energy, Mr Gwede Mantashe, and his Nigerian counterpart, Mr Alake.

The MoU lays the foundation for increased investment and collaboration, particularly in areas such as the use of drone technology and spectral remote sensing for geological mapping and mineral exploration.

Additionally, the agreement includes the exchange of geoscientific data between Nigeria’s Geological Survey Agency and South Africa’s Council for Geoscience. It also outlines plans for training programs on mineral processing, local capacity building and the transfer of advanced technologies, including Laser Ablation Inductively Coupled Plasma Mass Spectrometry for mineral analysis.

Beyond investment and technology, the MoU also includes joint exploration efforts focused on agro-minerals and energy minerals in Nigeria.

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