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Business News

FG to construct, fix 14 roads with N166 billion 

Following the memorandum sent by the Ministry of Works and Housing to the Federal Executive Council, the Federal Government (FG) has approved the sum of N166 billion for the construction and rehabilitation of 14 roads across Nigeria.

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Fashola to fix 44 roads across Nigeria with Sukuk funds, The FederalThird Mainland Bridge, Housing: Tackling Nigeria’s huge housing deficit, Nigerian roads are not that terrible, Fashola says 

Following the memorandum sent by the Ministry of Works and Housing to the Federal Executive Council, the Federal Government (FG) has approved the sum of N166 billion for the construction and rehabilitation of 14 roads across Nigeria.  

The roads meant to be covered, according to the memorandumare the Kotangora-Rijau road in Niger State, which will involve the construction of two bridges; Kano-Katsina roads, which involves the construction of additional lane from the airport roundabout to Dawanau roundabout in Kano State. 

Others include:

  • the Kotangora-Bangi road in Niger State;
  • the Outer Marina-Bonny Camp road and Eko Bridge through Apongbon Bridge with access ramp in Lagos State; 
  • Irrua-Edenu-Ibore-Udomi-Uwessan road in Edo State, which is slated for rehabilitation; 
  • Ilobu-Erinle road in Kwara/Osun states billed for construction;
  • Wudil bridge to link Gaban Komi with Wudil bypass along Maiduguri road in Kano State; 
  • Wukari-Ibi road in Taraba State billed for rehabilitation; and
  • construction of Baro-Port Gulu town road in Niger State. 

Dangote - Ofeme community, FG to construct, fix 14 roads with N166 billion 

[READ MORE: FG okays N100 billion for the completion of Kano Free Trade Zone]

The list also has Ajingi-Jahun-Kafin Hausa road in Jigawa State, slated for rehabilitation; Aba-Owerri road and NNPC Expressway in Abia State, for rehabilitation; Kaleyeri-Damaturu road in Yobe State billed for rehabilitation; two outstanding sections of Oba-Nnewi-ArondizuoguOkigwe road in Imo and Anambra States, for reconstruction; and the construction of Yaba-Yangogi road in the Federal Capital Territory. 

According to the Memorandum, the contract for the construction of two bridges, Lioji and Gulbin-Boka Bridges at Kotangora-Rijau road will be executed by Messrs Nael & Bin Harmal Hydro export Nigeria Limited at a contract cost of N1.13 billion, with a completion period of 12 months. 

  • The construction of additional lane on Kano-Katsina road in Kano will be executed by Messrs Zerock Construction Nigeria Limited within a period of 24 months at the cost of N9.5 billion. 
  • The reconstruction of Kotangora-Bangi road in Niger State will be executed by Messrs CBC Global Civil & Building Construction Nigeria Limited within 48 months at the cost of N20.4 billion. 
  • The rehabilitation of Outer Marina-Bonny Camp road and Eko Bridge through Apongbon Bridge with access ramps will be done by Messrs CCECC with a completion date of 12 months at the cost of N9.3 billion. 
  • The rehabilitation of Irrua-Edenu-Ibore-Udomi-Uwessan road in Edo State was awarded to Messrs Mikky-Tai Engineering & Construction Limited/Messrs Rodnab Construction JV at the contract cost of N4.6 billion, with a completion date of 12 months. 
  • Messrs IAC Allied Technical and Construction Company Limited will construct the Ilobu-Erinle Road in Kwara/Osun states within 36 months at a cost of N18.042 billion. 
  • Messrs Triacta Nigeria Limited will construct the Wudil Bridge along Maiduguri Road in Kano State within a period of 15 months at the cost of N2.6 billion. 
  • The rehabilitation of Wukari-Ibi Road in Taraba State will be done by China Worldwide Limited within a period of 18 months at the cost of N12.31 billion. 
  • Messrs GR Building & Construction Nigeria Limited will construct the Baro-Port-Gulu Town road in Niger State within a period of 24 months at N10.62 billion. 
  • The rehabilitation of Ajingi-Jahun-Kafin Hausa road in Jigawa will be done by Messrs H & M Nigeria Limited within a period of 24 months at the cost of N25.04 billion. 
  • Messrs Roudo Nigeria Limited is to rehabilitate the Aba-Owerri road, NNPC Expressway in Abia State within 18 months at the cost of N6.1 billion. 
  • Messrs JM & A’S/Lubell Nigeria Limited will construct Yaba-Yangogi Road in the FCT within 24 months at the cost of N17.31 billion. 
  • Messrs Rick Rock Construction Limited will complete the rehabilitation of the Kaleyeri-Damaturu road in Yobe State within 28 months at the cost of N17 billion. 
  • Messrs IIC Construction Company Limited/Wiz China Worldwide Engineering Limited who are to rehabilitate two outstanding sections of Oba-Nnewi-ArondizuoguOkigwe road in Imo/Anambra states within a period of 18 months, will receive N12.8 billion as payment on completion of the project. 
  • In terms of job creation, the rehabilitation of two outstanding sections of the Oba-Nnewi-ArondizuoguOkigwe Road in Imo/Anambra states will generate between 150 and 200 jobs, while the construction of Yaba-Yangogi road in the FCT will generate no less than 250 jobs, according to the Federal Ministry of Works and Housing. 

[READ ALSO: FG approves $5.3 billion for Ibadan-Kano rail construction]

Roads Nigeria Plc, FG to construct, fix 14 roads with N166 billion 

The Memorandum showed that the rehabilitation of Kaleyeri-Damaturu road would generate employment for 200 to 250 persons, while the rehabilitation of Aba-Owerri Road, NNPC Depot Expressway in Abia State would provide employment for no less than 150 people. 

  • It said that the rehabilitation of Ajingi-Jahun-Kafin Hausa road was billed to generate between 250 and 300 jobs. 
  • The memorandum showed that the rehabilitation of Baro Port-Gulu Town road in Niger State would generate about 250 jobs. 
  • It said the rehabilitation of Wukari-Ibi road in Taraba State would provide jobs for no less than 500 people, adding that the construction of Wudil Bridge to link Gaban Komi with Wudil Bypass on Maiduguri road in Kano State would produce between 100 and 150 jobs. 
  • It further stated that no less than 500 people would be employed for the construction of Ilobu-Erinle road in Kwara/Osun states and between 100 and 120 workers for the rehabilitation of Irrua-Edenu-Ibore-Udomi-Uwassan road in Edo State. 
  • The ministry said the rehabilitation of the Outer Marina-Bonny Camp and Eko Bridge through Apongbon Bridge with access ramps would generate between 200 and 250 jobs. 
  • It said the construction of two bridges at the Kotangora-Rijau road would generate employment for about 100 people and the construction of additional lane from airport roundabout to Dawanau roundabout along Kano-Katsina road would provide jobs for between 250 to 300 people. 
  • The memorandum added that the reconstruction of Kotangora-Banji road in Niger State would provide jobs for between 300 and 350 people. It stated that the scope of works to be covered in each of the projects were clearly itemised. 

It said the Minister also gave extensive details of the procurement processes which the participating companies went through that culminated in the certification and issuance of a due process certificate of “No Objection” for each of the 14 projects by the Bureau of Public Procurement. 

[READ FURTHER: FG to borrow N1.7 trillion to finance 2020 budget – Finance Minister]

 

Abiola has spent about 14 years in journalism. His career has covered some top local print media like TELL Magazine, Broad Street Journal, The Point Newspaper.The Bloomberg MEI alumni has interviewed some of the most influential figures of the IMF, G-20 Summit, Pre-G20 Central Bank Governors and Finance Ministers, Critical Communication World Conference.The multiple award winner is variously trained in business and markets journalism at Lagos Business School, and Pan-Atlantic University. You may contact him via email - [email protected]

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Energy

Agip shut oil facility in Bayelsa due to oil spillage, environmental pollution reported

Agip on Wednesday confirmed an oil leak, resulting in a shutdown.

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The Nigerian Agip Oil Company (NAOC) has confirmed the shutdown of its Idu oilfields at Egbebiri settlement within Biseni in Yenagoa Local Government Area in Bayelsa, due to an oil spillage.

A Joint Investigative Visit (JIV) report on the incident said that the leakage at the facility could be traced to equipment failure due to a rupture at the wellhead.

According to a report from the News Agency of Nigeria (NAN), Eni, the parent company of NAOC, in a response statement, said the facility was shut down to prevent further damage to the environment.

READ: Shell wants oil spillage case tried in Nigeria, but victims say no 

What Eni is saying

An Eni spokesperson on behalf of the Italian Energy firm, in a statement, said, “As soon as the incident was reported, we activated our oil spill response, shut in the well, and notified government regulatory agencies.

“The Joint Investigation Visit (JIV) was carried out on 09/05/2021, with the participation of community representatives and the government regulatory agencies.

“The event occurred within the Company’s wellhead location which is paved and walled round. There is no significant third-party impact,” Eni stated.

READ: UK court ruling affects acquisition of Shell’s oil block by Governor Wike 

Hotflex

Environmental Rights Group reports environmental degradation

An environmental rights group, Environmental Rights Action/Friends of the Earth Nigeria (ERA/FoEN), however, said that the incident which discharged crude and associated gas had severely polluted the environment.

The Non-Governmental Organisation said that a visit to the spill site showed pictorial evidence of the crude spreading beyond NAOC’s right of way as nearby vegetation were affected as a result of the crude impact.

The Head of Field Operations at ERA/FoEN, Mr Alagoa Morris, in a field report on the spill said the Idu fields was notorious for frequent spills caused by equipment failure.

He said, “The people of Egbebiri in Biseni kingdom have experienced several oil spills over the years. And all the oil spill incidents documented by the Environmental Rights Action/ Friends of the Earth Nigeria (ERA/FoEN) in this community environment have occurred as a result of equipment failure and on Wellheads.

“ERA/FoEN has had cause to visit the environment of Idu Well 5 and 11 located within the same place in the past and it has always been Idu Well 11 spewing crude oil into the environment.

“Available records from ERA/FoEN indicate that there have been previous oil spills from this particular Idu Well 11 operated by Agip. Before concluding this Field Report, ERA/FoEN confirmed that Joint Investigation Visit (JIV) was carried out on Sunday, 9th May 2021.

“This is why the official Spill Reference No 2021/LAR/028/058 is indicated in this report; sourced from the JIV report. Cause of spill was attributed to equipment failure,” ERA/FoEN stated.

Jaiz bank

The report quoted a resident of the community simply identified as Georgie as saying that the spill incident of May 7 spilled oil from around 10 p.m till about 8 a.m the next day before the leak was stopped adding that the level of damage was enormous.

What you should know

It can be recalled that in a similar circumstance, Shell Petroleum Development Company reported an oil pipeline spillage at its Okordia-Rumekpe 14-inch crude truck line, discharging about 213 barrels of crude oil into the Ikarama community in Bayelsa State and polluting about 1.34 hectares of land.

This new leakage is the latest in a series of oil spillages by the multinational oil exploration and production companies, which has put them in conflict with the host communities.

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Energy

Nigeria records system collapse during holidays

Nigeria’s national electricity grid collapsed on Wednesday morning.

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Abuja, Ikeja Discos top list in collection efficiency in Q1 2020- NERC, Estates in Lekki increase electricity tariff to N105/kWh, Eko Electric, Ikeja and 5 others to face NERC sanction for non-compliance, CBN reveals framework for financing National Mass Metering Programme (NMMP), Nigeria ranks eight African country with well-developed electricity regulatory frameworks, as Uganda tops.

The Nigerian grid has experienced a partial collapse, dealing a blow for stay at home Nigerians during the holidays.

This was confirmed in a statement by the Eko Electricity Distribution Company (EKEDC), as seen by Nairametrics.

What EKEDC is saying about the grid collapse:

“Dear customer, there is a partial system collapse on the National Grid. Our TCN partners are working to restore supply immediately. Please bear with us.”

According to latest reports, partial restoration of power is already occurring across the country.

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