Business News
Bike-hailing firms in talks with Lagos State to resume operations
Bike-hailing firms are in talks with the Lagos State Government to lift the ban and resume operation in the state.
ORide, Gokada and MaxNG may soon return to Lagos roads after the ban imposed on them by the Lagos state government last February.
Nairametrics gathered that the bike-hailing firms are in talks with the state government to lift the ban and resume operations.
The Babajide Sanwo-Olu led-administration banned commercial motorcycles and tricycles operating in major 15 local governments area and Local Council Development Areas across the state. The controversial ban was also extended to the operators of tech-driven motorcycles (bike hailing firms).
The government might, however, change its policy, as all parties are on the negotiation table. In an exclusive interview with Nairametrics, a source in ORide, who prefer anonymity, said, “We never stopped discussions, we never stopped engaging as regards the government even before the ban came.”
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“We’ve always been hopeful, we’ve never told ourselves it’s not going to happen, I guess that’s why those conversations are still going down because we are hopeful, that one time or one day the government will actually give room for an alternative means of transportation within the city.”
The negotiation has, however, been delayed due to the Coronavirus outbreak which the Lagos State government is currently battling.
When the Media Liaison of Gokada, Odion Aleobua, was asked about the ongoing talks, he simply stated that, “We are still in lockdown, so I can’t give you confirmation on that information.”
Why bike-hailing return is certain: The revenue opportunity is a propelling factor that could make the Lagos State Government revisit the ban. Lagos has a massive market for their operations, with about 4 to 5 million rides a day.
The co-CEO of Gokada, Ayodeji Adewunmi, had projected that the market could worth about $3 billion to $5 billion revenue opportunities.
Also, there are allegations that the state wanted to introduced a N25 million license fee to the operators. The CEO and co-founder of MAX, Adetayo Bamiduro stated that a government official suggested the license fee for Ride-hailing operators, which many of them frowned at.
Although Country Manager of OPay (parent company of ORide), Iniabasi Akpan said last year that “Nothing has been finalised; discussions are ongoing about it. So definitely, there’s going to be a license fee.”
Another factor that could lead to the return of the motorcycles, especially the bike-hailing firms and services, is that they obey traffic laws of Lagos. The Lagos State Road Traffic Management Authority explained that the roads should only be plied by motorcycles or tricycles with a minimum engine capacity of 200cc.
This requirement is followed by ORide, MAX.ng and Gokada, all of which operate with motorcycles that have above 200cc engine capacity. And all the operators are open to regulation by the State government.
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.
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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.
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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.
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• 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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