Connect with us
nairametrics

Business News

Lagos-Ibadan railway will be completed on or before January 2021 – Rotimi Amaechi 

The Minister has assured Nigerians that the Lagos-Ibadan railway line will be completed in the next few months.

Published

on

Lagos-Ibadan railway will be completed on or before January 2021 - Rotimi Amaechi , China set to approve $5.3 billion for Ibadan-Kano rail project

The Minister of Transportation, Rotimi Amaechi, has disclosed that the $1.6 billion Lagos-Ibadan railway project will be completed on or before January 2021.

This disclosure was made by the Minister while speaking during an interview in Lagos.

Explore the Nairametrics Research Website for Economic and Financial Data

READ: Lagos to construct rail line to airport terminal for international passengers

GTBank 728 x 90

He explained that by December 2020, to the first or second week in January 2021, the project should have been completed.

As the road infrastructures would not last without the construction of functional rail lines, he emphasized that there would be a restriction on the type and capacity of vehicles that can ply the expressways in the country, so as to reduce destruction.

READ: FG approves $3.1 billion for automation of Customs, targets $176 billion revenue

GTBank 728 x 90

The restriction is needed to reduce traffic congestion, ensure the safety of people and property, and also the safety of the road infrastructures across the country.

“By December to the first or second week in January, we should have completed the Lagos-Ibadan. If we do, there would be need to decide what vehicles can go to Lagos, and the capacity of such vehicles or trucks, as this would reduce the destruction that has happened on our roads,” Amaechi said.

READ: Zenith Bank discloses projections following release of CBN’s latest Treasury Bills calender

He added that in a bid to make this a reality, the railway would be put to use, as cargoes from Apapa Seaport will be transferred to Ibadan via the railway.

While the Ibadan-Kano rail project is under construction, the expressway would be used to convey cargoes, pending the completion of the railway, which should be completed between 2-3 years.

Jaiz bank ads

Amaechi stressed the need to ramp-up the construction of the railways to ease the burden off the expressways, he said doing so will help to ward off the destruction on the infrastructure, caused by trucks and other heavy-duty vehicles.

Fidelity ads

READ: Lagos-Ibadan Railway: NRC acquires 24 coaches for operations starting next month

As tankers are plying the road infrastructures with excess cargoes, He reiterated that the best way is to move all the cargoes to the rail tracks.

Mr. Rotimi Amaechi advised more patience and understanding with the government, to allow them to complete the infrastructures and the myriads of projects the government is working on.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Coronavirus

COVID-19 Update in Nigeria

On the 27th of October 2020, 113 new confirmed cases and 3 deaths were recorded in Nigeria

Published

on

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).

GTBank 728 x 90

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.

GTBank 728 x 90

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.

READ ALSO: Bill Gates says Trump’s WHO funding suspension is dangerous

Jaiz bank ads

 

Fidelity ads

 

 

 

 

 

Coronation ads
Continue Reading

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.

Published

on

Oyo sets up N500 Million fund each for youth entrepreneurs, compensation for victims of police brutality, #EndSARS: State Governors should have necessary powers to control the Police Force - Seyi Makinde, Seyi Makinde Proposes N3 Billion plan for water supply

Oyo State Government has directed that a N500 million MSME fund be set up to fund youth entrepreneurs in the State with bright business ideas

This was disclosed by Governor Seyi Makinde while speaking at the Post-Protest Meeting with Traditional Rulers and other Stakeholders, held at Agodi, Ibadan.
According to the Governor, the fund will provide further employment and improve the economic landscape in Oyo State.
The Governor also approved N500 million as compensation to victims of police brutality and injustice. This fund is to encourage anyone who has suffered any form of injustice in the past or as a result of the #EndSARS protests.
He said, “I have directed that a N500 Million MSME fund be set up. This fund will be disbursed to youths who have bright entrepreneurial ideas that will provide further employment and improve the economic landscape in Oyo State.”
Let me also state that we have set up an initial Five Hundred Million Naira (N500million) Compensation Fund for victims of injustice.
“So, I encourage everyone who has suffered any form of injustice in the past or as a result of the #EndSARS protests, to please take advantage of the platforms we have provided to log their cases.
“We have an email service and a direct reporting portal on the Oyo State Government website. A judicial panel for Oyo State will be inaugurated in the next one week to look into cases of injustice.”
He stated further, “We know that the protests have been a result of simmering anger among the youths. We are aware of the economic situation, especially the reduced income of many due to the COVID-19 pandemic and also the general unemployment situation in the country. Let me reassure you that we will continue to prioritize actions that will positively impact the youths.”

Continue Reading

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.

Published

on

VP Osinbajo leads Committee to address unemployment, poverty among others

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.

READ: KPMG report blames FIRS, others over ₦8 trillion under-remittance into Federation accounts

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.

GTBank 728 x 90

READ: CBN to sanction exporters who default on export proceed number

What you should know

GTBank 728 x 90

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.

Jaiz bank ads

• A framework for the Federal Government to provide compensation for those who have incurred losses in the last few weeks.

Fidelity ads

• A social security framework for the youths and Nigerians to deal with the problem of unemployment and poverty in the country.

Continue Reading
Advertisement
Advertisement
Advertisement
ikeja electric
Advertisement
Advertisement
Patricia
Advertisement
FCMB ads
Advertisement
IZIKJON
Advertisement
Fidelity ads
act markets
Advertisement
first bank
Advertisement
bitad
Advertisement
Stallion ads
Advertisement
financial calculator
Advertisement
deals book
Advertisement
app
Advertisement