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Lagos State Water Corporation introduces prepaid metering system

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The Lagos State Water Corporation (LWC) has introduced a prepaid metering system for its customers. Prior to this, the corporation charged a flat flee monthly. According to the Public Relations Officer (PRO) of the corporation, Feranmi Akinluleya, the metering was introduced to enable customers get value for their money. He also listed the charge for various areas.

We introduced pre-paid metering system for customers to have value for their money and only pay for the quantity of water they used. We charge N200 per cubic meter in high density areas, N260 in low density areas and N350 for commercial water usage.

Other benefits

In addition to this, the corporation also benefits from enhanced revenue, as free loaders will be minimized and individuals will be more prudent in terms of the volume of water they consume. This will enable the corporation implement its expansion plans. Residents of the state still largely provide their own water, especially in new areas.

Residents kick

Some residents have however kicked against the charges, describing them as exorbitant. They have since resorted to alternative means of supply.

Questions remain

The LWC representative did not state how the corporation arrived at the charge per metre, nor if customers were given prior notice before the transition.

About the Lagos State Water Corporation

The Lagos State Water Management Board was created in 1980 and charged with the responsibility of  to operate and maintain the existing water supply systems and eradicate the pail system of sewage disposal, while the water supply department of the Ministry of the Environment and Physical Planning continued to handle the capital projects.

The  board was however renamed  Lagos State Water Corporation in 1980, and became a legal entity in 1985, with the added function of implementing capital projects to implement capital projects. This was  done in order to access World Bank funding for expansion projects.

 

 

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training.He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE).He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy.You can contact him via [email protected]

Cryptocurrency

Uniswap, 8th most valuable crypto, surges by 46% in 7 days

Uniswap’s token traded at $34.00 with a daily trading volume of $1.5 Billion. Uni is up 45.7% for the week.

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Crypto: UniSwap gives each owner over $2,000

Uniswap, the fast-growing decentralized exchange token, has gained almost 46% in the past week, pushing UNI as the eighth-largest crypto asset with a $17.7 billion market cap, as speculation builds for the exchange’s coming upgrade.

In addition, it’s currently the second largest Ethereum-based asset by market value behind Tether, beating out the Chainlink by almost 50% of its market value.

  • At the time of writing this report, Uniswap’s token traded at $34.00 with a daily trading volume of $1.5 billion. Uni is up 45.7% for the week.
  • The crypto is currently ranked eighth with a live market value of $17.7 billion. It has a circulating supply of 521,176,874 UNI coins and a maximum supply of 1,000,000,000 UNI coins.

How Uniswap makes money

Uniswap is designed to be a decentralized protocol. All fees go to market liquidity facilitators, and none of the founding partners get a cut from the transactions that occur through the protocol.

Currently, the transaction fee paid for these market liquidity providers is 0.3% per successful transaction. That said, these are added to the liquidity pool, but these market liquidity facilitators can redeem them at any time.

The fees are distributed according to each liquidity provider’s share of the pool.

Members of the crypto community are rushing into Uniswap, on the consideration that it’s the preferred structure for advanced crypto functionalities like yield farming, where global investors can earn huge returns by lending cryptos in exchange for interest payments.

More about Uniswap

Uniswap is a decentralized exchange protocol built on the Ethereum network. It has no book or any centralized platform for executing trades. It allows users to trade without a middleman or third party, with a high degree of decentralization and censorship-resistance.

Uniswap operates via software that is decentralized in principle. It has a team of computer programmers working endlessly to make it better and is mainly governed by a group of its own users.

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Business

UK announces opening of graduate route for international students on July 1, 2021

The British Government has announced that the new Graduate route will open for applications on July 1 2021.

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United Kingdom opens window of job opportunities for international students

The British Government has announced that the new Graduate route will open for applications on July 1, 2021, allowing the UK to retain the brightest and best international students to continue to contribute to society and the economy post-study.

The route is for international students who want to work, following completion of a course of study at the UK bachelor’s degree level or above.

This disclosure is contained in a public statement issued by the UK Government and seen on its website by Nairametrics.

The government, in its statement, said that international students must have completed an eligible course at a UK higher education provider, with a track record of compliance with the government’s immigration requirements to apply to the Graduate route.

It states that students on the Graduate route will be able to work or look for work after their studies for a maximum period of 2 years, or 3 years for Doctoral students.

The UK Government stated, “The launch of the new Graduate route shows that the government is continuing to deliver on its key manifesto promise to implement a points-based immigration system, which will attract talent and ensure that businesses can recruit the most highly qualified from across the globe to drive the economy forwards.

“The Graduate route will work for all corners of the UK, ensuring that communities in England, Scotland, Wales and Northern Ireland can benefit from talented individuals who want to stay after their studies.’

What the UK Minister for Future Borders and Immigration is saying

Minister for Future Borders and Immigration, Kevin Foster, said, “As we rebuild from the global pandemic we want the world’s brightest talent, who aspire to a career at the highest levels of business, science, the arts and technology to see our United Kingdom as the natural place to fulfil their aspirations.

“The changes announced today will ensure once they have received a gold standard qualification from one of our world leading education institutions they can easily secure the status they need to continue living, working and fulfilling their dreams in the UK.”

The Graduate route will be unsponsored, meaning applicants will not need a job offer to apply for the route. There will be no minimum salary requirements nor caps on numbers. Graduates on the route will be able to work flexibly, switch jobs and develop their careers as required.

The new route will help the government to achieve the ambition set out in the International Education Strategy to increase the number of international students in higher education in the UK to 600,000 by 2030, just as coronavirus concessions for students unable to travel to the UK due to the pandemic have also been extended, due to disruption caused by international travel restrictions.

Eligibility to apply if you can’t get to the UK due to coronavirus

Applicants who began their studies in Autumn 2020 will now have until June 21, 2021 to enter the UK (updated from April 6, 2021) in order to be eligible for the Graduate route. Students who began their studies in January or February 2021 will need to be in the UK by September 27, 2021.

What you should know

  • It can be recalled that in September last year, the UK Government in its travel advice, offered some flexibility into their rules for international students applying for study visa due to ongoing global restrictions as a result of the coronavirus pandemic.
  • The Visa and Immigration office said that students who could not travel to the UK due to restrictions could start their studies remotely without applying for a Tier-4 student visa. It advised the international students to only apply for their visas when they were confident they could travel.
  • It also announced the commencement of its point-based immigration system to attract skilled workers from across the world.
  • The Graduate route comes as the government has also unveiled plans to launch another new immigration route that will help start-ups and fast-growing firms recruit the talent they need to innovate and grow,  at yesterday’s Budget as part of a range of measures for highly skilled migrants.

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