Business News
Dangote discloses N25 billion loss to Apapa road network
Aliko Dangote has lamented the loss his company recorded as a result of the bad state of the Oshodi-Apapa Expressway.
President of Dangote Group, Aliko Dangote has disclosed that his company lost N25billion to the poor state of Oshodi-Apapa Expressway.
While speaking during the road inspection in the company of Minister of Works and Housing, Babatunde Fashola, Dangote who has secured the Federal Government’s nod to reconstruct the road for N72.9 billion, stated that the state of road network was responsible for the Apapa ports congestion.
According to him, the congestion, which was caused by the gridlock in the area, made the company recorded the loss between 2017 and 2019, The Nation reported.
“This road will actually open up the economy. It will bring a lot of jobs and a lot of factories that have moved out will be able to move back.
“What I can also assure you is that this road will be finished before the end of next year.”
Meanwhile, as reported by Nairametrics, NASCON Allied Industries Plc, one of the subsidiaries of Dangote Industries Limited, had moved some of its operations away from Apapa to Oregun and Port Harcourt.
While disclosing the development, the company’s Managing Director, Paul Farrer, said the decision to move its operations was in response to the lingering gridlock in Apapa.
Farrer said the Apapa gridlock was one of the key risks to the company’s business last year. He added that the Apapa gridlock affected the movement of raw materials to Oregun, timely delivery of finished goods to customers, and increased turn-around time of the company’s trucks.
The Apapa gridlock controversy: Apapa is a Local Government Area in Lagos, located to the west of Lagos Island. It has a number of ports and terminals operated by the Nigerian Ports Authority (NPA), including the major port of Lagos State and Lagos Port Complex (LPC).
Apapa has ports and terminals for various commodities such as containers and bulk cargo, houses, offices and a small old disused railway station (Apapa North).
It also houses companies such as BUA Group, as well as the commercial offices of many shipping, clearing, and transportation companies.
Coronavirus
COVID-19 Update in Nigeria
On the 27th of October 2020, 113 new confirmed cases and 3 deaths were recorded in Nigeria
The spread of novel Corona Virus Disease (COVID-19) in Nigeria continues to record significant increases as the latest statistics provided by the Nigeria Centre for Disease Control reveal Nigeria now has 62,224 confirmed cases.
On the 27th of October 2020, 113 new confirmed cases and 3 deaths were recorded in Nigeria, having carried out a total daily test of 2,326 samples across the country.
To date, 62,224 cases have been confirmed, 57,916 cases have been discharged and 1,135 deaths have been recorded in 36 states and the Federal Capital Territory. A total of 614,480 tests have been carried out as of October 27th, 2020 compared to 612,154 tests a day earlier.
COVID-19 Case Updates- 27th October 2020,
- Total Number of Cases – 62,224
- Total Number Discharged – 57,916
- Total Deaths – 1,1135
- Total Tests Carried out – 614,480
According to the NCDC, the 113 new cases were reported from 12 states- Lagos (51), FCT (15), Plateau (11), Kaduna (8), Oyo (8), Rivers (8), Ogun (4), Edo (2), Imo (2), Kwara (2), Delta (1), Kano (1).
Meanwhile, the latest numbers bring Lagos state total confirmed cases to 20,935, followed by Abuja (6,008), Plateau (3,614), Oyo (3,433), Rivers (2,781), Edo (2,654), Kaduna (2,625), Ogun (2,014), Delta (1,813), Kano (1,743), Ondo (1,666), Enugu (1,314), Kwara (1,069), Ebonyi (1,049), Katsina (952), Osun (923), Abia (898), Gombe (883). Borno (745), and Bauchi (710).
Imo State has recorded 616 cases, Benue (486), Nasarawa (479), Bayelsa (403), Ekiti (332), Jigawa (325), Akwa Ibom (295), Anambra (277), Niger (274), Adamawa (257), Sokoto (165), Taraba (140), Kebbi (93), Cross River (87), Yobe (82), Zamfara (79), while Kogi state has recorded 5 cases only.
READ ALSO: COVID-19: Western diplomats warn of disease explosion, poor handling by government
Lock Down and Curfew
In a move to combat the spread of the pandemic disease, President Muhammadu Buhari directed the cessation of all movements in Lagos and the FCT for an initial period of 14 days, which took effect from 11 pm on Monday, 30th March 2020.
The movement restriction, which was extended by another two-weeks period, has been partially put on hold with some businesses commencing operations from May 4. On April 27th, 2020, Nigeria’s President, Muhammadu Buhari declared an overnight curfew from 8 pm to 6 am across the country, as part of new measures to contain the spread of the COVID-19. This comes along with the phased and gradual easing of lockdown measures in FCT, Lagos, and Ogun States, which took effect from Saturday, 2nd May 2020, at 9 am.
On Monday, 29th June 2020 the federal government extended the second phase of the eased lockdown by 4 weeks and approved interstate movement outside curfew hours with effect from July 1, 2020. Also, on Monday 27th July 2020, the federal government extended the second phase of eased lockdown by an additional one week.
On Thursday, 6th August 2020 the federal government through the secretary to the Government of the Federation (SGF) and Chairman of the Presidential Task Force (PTF) on COVID-19 announced the extension of the second phase of eased lockdown by another four (4) weeks.
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ENDSARS
Oyo sets up N500 Million fund each for youth entrepreneurs, compensation for victims of police brutality
Governor Seyi Makinde plans to disburse N500 million fund to youth entrepreneurs in Oyo state.
ENDSARS
VP Osinbajo leads Committee to address unemployment, poverty among others
The National Economic Council (NEC) is ready to address the concerns of youths and Nigerians at large.
After over four hours of deliberations at the emergency meeting of the National Economic Council (NEC), a Committee was set up to meet the needs and demands of Nigerian youths behind the #EndSARS protests. The head of the Committee is Vice President Yemi Osinbajo.
This information is contained in the circular issued by the National Economic Council and shared by Laolu Akande, the Senior Special Assistant-Media & Publicity to the Vice President.
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According to Akande, the Joint Committee was consequently set up by Osinbajo, SAN, to work with State governments represented by the Governors of Ebonyi, Ondo, Niger, Delta, Borno and the Sokoto States to implement the resolutions of the emergency meeting.
The National Executive Council during the meeting affirmed an unequivocal belief and assurance that most members of the nation’s security personnel are law-abiding and are capable of restoring law and order in the country.
READ: CBN to sanction exporters who default on export proceed number
After over 4 hours of deliberations:
NEC SETS UP COMMITTEE TO ENGAGE YOUTHS, OTHERS ON EMPLOYMENT, SOCIAL SAFETY NETS & NATIONAL UNITY*COMMENDS NIGERIAN POLICE, SECURITY AGENCIES ON HANDLING OF DISTURBANCES IN SOME STATES
— Laolu Akande (@akandeoj) October 26, 2020
What you should know
The Joint Committee set-up by the NEC, to see to the implementation of the following frameworks and the given objectives:
• Framing of a new security and stability architecture for the country.
• A framework of engagement with the youths, civil society, and religious leaders, in a bid to promote national unity.
READ: 2021 Budget: Senate sets motion for budget defense, commences 2020 review
• A framework to engage with security agencies that will devolve more control to State governors who are the chief security officers of their states.
• A framework for the Federal Government to provide compensation for those who have incurred losses in the last few weeks.
• A social security framework for the youths and Nigerians to deal with the problem of unemployment and poverty in the country.
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Yung_Dammy
January 22, 2020 at 11:35 am
May od help him in completing his petroleum refinery company