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Economy & Politics

LAWMA terminates contracts of waste management operators

Any sweeper or agent who wears any unapproved apparel will be termed an impostor.

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Lagos state imposes 24-hour curfew, as hoodlums hijack #EndSARS protest, Social clubs, recreational centres to reopen August 14, Lagos International Trade Fair to get permanent site soon, Sanwo-Olu vows , Lagos State discloses road expansion plans in an effort to combat traffic, Lagos State cracking down on Uber, Bolt, Ocar a week after Okada, Keke Napep ban , LASG increases health workers’ allowances, commissions local production of face masks

 The Lagos State Waste Management Authority (LAWMA) has announced the immediate termination of contracts of some Private Sector Participants (PSP) operators in waste management in the state. 

The waste management regulator terminated all the street sweeping briefs awarded to some of these waste management companies found to have been involved in practices that violate their contracts. 

The disclosure which was contained in a press statement issued by LAWMA on Friday, June 19, 2020, also noted that the termination of the contracts was informed by established cases of unethical behaviour by these PSP operators. 

READ MORE: Copper hits six months high, Industrial demand spur bullish run

LAWMA, also revealed that the recent audit exercise which was approved by the state Governor, Babajide Sanwo-Olu, exposed the sharp practices of the agents, assuring that their services will be repositioned for greater efficiency and value for tax-payers’ money. 

The statement also gave all the employees of the affected companies the opportunity to re-apply directly to the Agency for employment consideration. 

It pointed out that as part of LAWMA’s rebranding process and efforts to sanitize operations, the management has approved the restoration of single apparel as a uniform for all street sweepers in order to enable easy identification of genuine workers. 

READ ALSO: NITDA unmasks fake websites disbursing ‘lockdown funds’ 

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In effect, LAWMA warned that any sweeper or agent who wears any apparel other than the overall uniform approved will be termed an impostor and summarily dealt with according to the extant laws of the State. 

It can be recalled that just a few days ago, an employee of LAWMA, in a viral video, accused the management of the Agency of being very insensitive to the plight of their workers by owing them 3 months’ salary. He said that they work from the early hours of the morning till 4 pm daily even during the lockdown period. 

However, the Acting Managing Director/Chief Executive Officer of the Agency, Ibrahim Odumboni, while denying the allegation stated that they have been up to date with their payments to the waste management contractors who directly employ these street sweepers. 

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They frowned at the practice of some of these contractors who are owing these street sweepers even after being paid by LAWMA. 

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Chike Olisah is a graduate of accountancy with over 15 years working experience in the financial service sector. He has worked in research and marketing departments of three top commercial banks. Chike is a senior member of the Nairametrics Editorial Team. You may contact him via his email- [email protected]

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Economy & Politics

Nigeria needs urgent economic diversification – AfDB

The AfDB said that the diversification of the Nigerian economy had become important for it to respond favourably to the emerging challenges of the 21st century.

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AfDB, Lutoyilex Construct Ltd, fraud

The African Development Bank has stated that Nigeria, Africa’s largest economy, needs urgent economic diversification to move the country from a single income source (oil and minerals) towards multiple income sources.

This was disclosed by Prof. Oyelaran-Oyeyinka Oyebanji, Senior Special Adviser on Industrialisation at African Development Bank (AfDB), at the 22nd Founder’s Day Lecture of the Igbinedion University, the first private university in Edo state, on Monday.

What the AfDB said about diversification

“In pursuit of long-term recovery and sustainable development, Nigeria needs urgent economic diversification. Nothing is more poignantly demonstrative of the danger of over-reliance on a single or narrow range of commodities than the recent crash in oil price we saw in 2020 due to the COVID-19.

Economic diversification entails a shift away from a single income source (oil and minerals) toward multiple income sources from an increasing spectrum of sectors, products and markets,” he said.

In case you missed it

The International Monetary Fund (IMF) stated earlier this year that economic diversification was important to Nigeria and critical for her economic recovery.

They said the limited gains from inward-oriented policies in terms of creating jobs and improving living standards suggested that Nigeria needed to have a change of strategy. It was pointed out that in order to accommodate a growing number of young people entering the labour market, Nigeria would need to create at least 5 million new jobs each year over the next decade.

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Business News

Ghana-Nigerian traders dispute: FG to send delegation to Ghana

The delegation will be led by the Minister of Trade, Niyi Adebayo, and comprised of other private stakeholders.

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AfCFTA: Trade Minister advises Nigerian businesses to take opportunity of agreement

The Nigerian Government will send a delegation led by the Minister of Trade, Niyi Adebayo, to Ghana to end the crisis between Nigerian traders in Ghana and local authorities—an issue that started last year before the Ghanaian Presidential elections.

The delegation was ordered by the Presidency as disclosed in a statement by the trade ministry on Monday evening.

The statement revealed that the delegation would be comprised of private stakeholders also who would be sent to dialogue with Ghanaian trade authorities to find a solution to the crisis.

The meeting between both parties will be held between May 31 and June 1, 2021.

What you should know

Recall Nairametrics reported last year that Ghana’s Foreign Minister, Shirley Ayorkor Botchwey, said that Nigeria’s border closure in 2019 hurt Ghanaians and nearly bankrupted many Ghanaian export businesses after their goods were stuck at the Seme Border for months, reacting to the shutdown of Nigerian-owned shops by Ghanaian authorities last year.

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