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Third Mainland Bridge closure: Lagos says alternative routes are in good shape

The Commissioner appealed to residents to endure the inconveniences occasioned by the 3rd Mainland Bridge repair works.

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Third Mainland Bridge is intact and safe for commuters - FG

The Lagos State Government said it has ensured that the alternative routes are in good shape, to reduce to the barest minimum, the impact of the third mainland bridge closure on motorists.

The government assured Lagosians of safer roads and ease of movement for all road users.

This disclosure was made on Friday by the Lagos State Commissioner for Transportation, Dr. Frederic Oladeinde while embarking on a tour of alternative routes provided by the government, due to the partial closure of the Third Mainland Bridge for repairs.

READ: Sanwo-Olu announces dismantling of Lekki Second Roundabout as it wears new look

Speaking to news correspondents during the inspection exercise, the Commissioner stated that the tour was part of activities marking his birthday celebrations, stressing that he is appreciative to God for his kindness, as well as using him to render good services to humanity, towards realizing Governor Sanwo-Olu’s vision for an efficient Multimodal Transport System in the State.

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Oladeinde expressed satisfaction on the status of some of the alternative routes inspected, such as the Ikorodu Road, Fadeyi, Jibowu, Yaba, Oyingbo, Iddo, and Carter (Idumota) Bridge inward Lagos Island.

READ: Chevron to sack 25% of its workforce in Nigeria

He noted that despite heavy torrential rains being experienced across the State, most of the alternative routes are still in good condition, saying that, “Their present status is a confirmation that the rehabilitation works carried out by the State Government on the alternative routes was impactful. The administration of Governor Babajide Sanwo-Olu had realized from inception that efficient traffic management and transportation are crucial to achieving sustainable economic growth and infrastructural development. This underscores the reason the State Government has continued to invest in providing transport infrastructure across the State.

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Oladeinde disclosed further that the Lagos State Government has completed rehabilitation works on Oyingbo/Iddo Terminal, as part of efforts to ensure that commercial motorists get an appropriate place to park their vehicles rather than on the road, which impedes the free flow of traffic in the axis.

READ: FG directs schools to fully reopen on October 12

He, however, appealed to residents of the State to endure the inconveniences occasioned by the Third Mainland Bridge repair works, promising that the State Government would work tirelessly to ensure ease of movement and safety of commuters, as they go about their businesses and economic activities in Lagos.

The commissioner, while assuring that the rehabilitation works on the bridge is progressing steadily, with the January 2021 deadline for the completion of the project still sacrosanct; he noted that the Lagos State Traffic Management Authority (LASTMA) and other traffic enforcement Agencies would continue to ensure compliance with traffic regulations, with a prompt response to impediments and breakdown of vehicles.

Oladehinde assured that his ministry would continue to collaborate with the Ministry of Works and Infrastructure, as well as other relevant government agencies, to ensure that the alternative routes are always in good condition and motorable throughout the duration of the rehabilitation works and beyond.

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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]

1 Comment

1 Comment

  1. Nurullah

    October 5, 2020 at 11:12 am

    The Eko Bridge inward Apongbon has been closed for over a month now. Traffic is diverted to Iponri Costain which unbelievably is also under construction.

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Corporate Press Releases

Ikeja Electric launches mass metering programme

Ikeja Electric has announced the commencement of the rollout of Prepaid Meters under the National Mass Metering Programme.

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Ikeja Electric reacts to viral videos, declares war on anyone who assaults its staff

This is to notify our esteemed customers that Ikeja Electric has commenced the rollout of Prepaid Meters under the National Mass Metering Programme, approved by the Federal Government, with effect from today, Friday, October 30, 2020.

This programme is part of the Federal Government’s effort to further bridge the country’s metering gap and also cushion the effect of the Service Reflective Tariff on electricity consumers in Nigeria.

In line with this programme, Ikeja Electric Plc (IE) is committed to driving the rollout through a series of one-day metering initiative across different locations in its network. This metering initiative is designed to ensure a seamless metering process that allows customers to register and be metered on the same day after following due process.

For the first phase of the programme, which will run till the end of the year, Ikeja Electric is rolling out over 106,000 prepaid meters to customers across its six Business Units – Ikeja, Abule-Egba, Akowonjo, Oshodi, Ikorodu and Shomolu.

Beneficiaries of this programme, which will cut across all locations in IE network, will not be required to pay upfront for the installation of meters. Rather, the modalities of cost recovery for the meters will be clearly defined and communicated to the beneficiaries.

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The primary objective of the National Mass Metering Program is to increase the metering rate in the country and close the gap of unmetered customers. It is also expected that it will assist in reducing Collection losses, while at the same time, increasing financial flows to achieve 100 percent market remittance obligation of the DisCos.

Part of the objectives also includes the elimination of arbitrary estimated billing, improving network monitoring capability and provision of data for market administration and investment decision-making.

Apart from its job creation potentials in the Meter value chain, the program will further strengthen the local meter value chain by increasing local meter manufacturing, assembly and deployment capacity, all in support of Nigeria’s economic recovery plan.

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Once again, Ikeja Electric wishes to restate its commitment to bridging the metering gap by metering all its customers, to ensure an efficiently managed electricity supply industry that meets the yearnings of Nigerians.

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Corporate Press Releases

Nairametrics partners Intelligence Interactive Ltd, to provide daily reports on NSE listed companies

Nairametrics has partnered with Intelligence Interactive Ltd in an effort to provide readers with daily automated intelligence reports on NSE listed companies.

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Nairametrics, Nigeria’s leading financial advocacy company, in a bid to provide cutting edge financial and non-financial intelligence report to its readers, has partnered leading digital insights, analytics, and content design platform, Intelligence Interactive Ltd.

What better way is there to start your professional day as a business owner, C-level executive or an investor, than to get the latest digitals insights on your industry and competition on a daily basis – insights that brings to the fore competitive threats that your brand can watch out for and take advantage of.

Imagine being able to get real-time insights on what customers and the media are saying about your industry and competition, and what your competitors are saying about themselves.

You could spot Threats like:

  • Customer negative sentiment trend(s) across the industry that would pique your interest.
  • New product(s) launched by competition that may be a threat to your brand.
  • Newly signed partnership agreements that could impact your market.
  • New hires in your area of dominance that could disrupt your industry.
  • New campaign launches that could change the value proposition on existing products – such as moving it closer to values you offer.
  • Market entrant(s) into new territories and what this means for you.
  • New mergers and acquisitions that could strengthen a competition.

 You could also spot these Opportunities:

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  • Consumer complaints that you can solve with a new product.
  • Competition’s product(s) failures that you can learn from.
  • Product leadership areas that you can reinforce.
  • Genuine negative sentiments of customers that you can turn into positive.
  • Media usage and mentions of industry leaders that you can learn from.

Competitions own conversations that can give you an idea into their next move or give your brand validation for a move.

All these loaded high profile information at the price of a newspaper – N500 per report (N25,000 monthly for 50 reports, twice daily: Morning and Evening).

Sign up HERE now

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Speaking about the partnership, the Managing Director of Nairametrics, Mr. Christopher Pemu, said,

”Our goal at Nairametrics is to be the trusted financial advisor/platform to business owners, C-level executives and investors, by providing them with all the information needed (Financial and non-Financial) to help them make better decisions for their business growth. We have done this successfully in the last 10 years and have become Nigeria’s number one financial advisory website.

“The growth and use of social and digital media globally and in Nigeria has accelerated the speed of information dissemination rapidly. Brands and organizations that will survive in this age, needs to listen to what is being said in real- time; process the information using artificial intelligence, analytics, and various algorithms; and bring out meaningful insights for users, which they can use in an instant or in their day to day business decision making.

“As we know it today, a single tweet can ruin or make a brand. Hence, the need to help brands stay on-top of this trends and conversations, providing the needed insight twice daily to aid quick decision making for growth and profitability.

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“The recent #EndSARS online protest has shown that the digital customers’ voice is now so powerful that it can no longer be ignored, as the coalition of customer voices online can lead to the downfall of a business or a whole industry in an instant. So, every business owner or C-level executive in Nigeria needs to constantly monitor the pulse of their industry and make quick decisions by the day, to enable the business maneuver various competitive challenges in the industry.

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“Even as an investor, you can see trends, social conversations, and sentiments around your brands of interest clearly. This new intelligence added to all your other information sources will help you make better short term and long term bets on brands, nothing is hidden to you any longer – whether it is customer complaints, competitor’s moves, product fails, etc.

“Now added to all the reports you get from us, you have this industry/competitive intelligence digital insights report, making our work of providing you with all round intelligence for decision making complete and world-class.

“It should normally cost about $1000-$5000 monthly for you to get this type of reports, but with innovation, we have painstakingly searched for the most important information you need (removing all the noise), and put it in this daily report – making it accessible to many brands, while simultaneously reducing the cost by over 90%, so that you can get the report for as low as N500 per report (N25,000 payable monthly).”

Click HERE to subscribe now.

Further more, he emphasized that “due to the quota limits that we have currently, we will only grant access to just 100-500 brands at this time on a ‘first-come-first-serve basis’. Portal for registration is already open and will be closed on the 23rd of November 2020, whether our quota is fully subscribed or not, and if our quota gets full before the 23rd of November 2020 (23 days from now), the payment portal will automatically stop taking orders.

“If you are really passionate about your business growth, continuity, and sustainability during and after this pandemic – when wallet share of customers is not growing, and the balloon market share effect kicks in ( when a brand’s market share increases, another competitor’s market share might reduce), then you know that every information you are able to get about your industry and competition is very key to your survival. A single insight on what your competition might be up to can just be what you need to defend and grow your brand. If you snooze in the fast paced digital world, you will lose out.

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“Great news is we have made it affordable, so that all brands of different sizes can benefit. If in the whole year, you get just 1 insight that gets your brand and business above the competition or saves your business from going under/making the wrong business and investment decision; then, it is worth subscribing to at just the cost of a meal – N1, 000 daily for two reports (N25,000 payable monthly).

“The reports cover all the industries on the Nigerian Stock Exchange – Banking, Insurance, Consumer goods, Construction and real estate, Conglomerates, Healthcare, Industrial goods, Natural resources, Oil and Gas, Professional, Other services, and Agriculture. It also gives insights on all the Stock Market brands.

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“All you have to do is fill in the industry you are interested, subscribe, and you start getting your reports on all the brands in that industry. If you are a banker or you run a bank-like service – Microfinance, Loans, etc., you can subscribe to the Banking industry report and get daily automated industry/competitive intelligence report on Zenith bank, Gtbank, Union bank, Fidelity bank, Access bank, Providus bank, Sterling bank, UBA, FCMB, and Heritage bank amongst others.

“The ICT sector also has listed and non-listed brands like Paystack, Andela, Flutterwave, Interswitch, and many more, while Professional service includes insights on brands like KPMG Nigeria, DELLOITTE Nigeria, PWC, Ernst and Young (EY). So, if you are an accountant, the professional service is for you and if you are into any form of Information or Communications Technology, then go for information on brands like Mtn, Airtel, e-Transact, Ntel, Globacom, Paystack, and Andela. If you are into other services like Aviation or Hospitality, it will do you good to SUBSCRIBE NOW to your report under the Other services industry.

“If you are like many businesses still using Google alerts to monitor your brand and competition, now is the time to step up, because social media insights is where the conversation happens now. Google alerts doesn’t cover that, meaning you will be missing out on almost 80% of the conversation.”

You can step up now by SUBSCRIBING NOW

Speaking to the Country Representative of Intelligence Interactive Ltd, Mr. Temiloluwa Sobowale, a Digital and Marketing Analytics Professional with over 12 years industry experience. He said,

“Nairametrics is committed to being ahead of the curve and at per with global news houses in providing the needed information to executives, investors, and business owners for quick decision making and growth.

“Adding automated digital insights industry reports to their service offerings, shows a commitment to leveraging cutting edge technology in assisting its readers to achieve the highest possible height in business, investing, professional, and individual lives. We must commend their efforts in pulling this through. Many leading brands in Nigeria already use this tool for insight at the enterprise level and is gradually becoming the preferred digital insight tool for Nigerian brands.

“The key competitive advantage of the  tool and  why it is  better suited for the Nigerian market more than any other digital insights is because of its heavy localization to the Nigerian market (training the algorithm to understand our nuances and also being able to properly categorize sentiment of conversations in English, Igbo, Hausa, and Yoruba. It’s the most suited sentiment analytics tool for the space), while also providing local technical support to boost localization and getting the needed help from the global technical team.

“You really need to thank the team at Nairametrics, because this is bringing insights needed for business growth in this digital age, hitherto, only available for Enterprise brands, and at huge prices to smaller businesses, making it available for all to have access at an affordable daily price of N1000 (N25,000 payable monthly).

“If you are serious about business growth, sustainability, and profitability in the digital age, you need to seize the opportunity to register before Nairametrics’ subscription quota gets filled up on or before the 23rd of November 2020.”

The quota will not be increased, SO NOW IS THE BEST TIME TO SUBSCRIBE HERE.

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Macro-Economic News

Consumers overall confidence index dipped by 25.0% Y-o-Y- CBN

According to the latest Consumer Expectations Survey Report for Q3, 2020, consumers’ overall confidence index dipped to -21.2 points.

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The consumers’ overall confidence index dipped to -21.2 points as at the third quarters of 2020(Q3,2020), down by 25.0%, from 3.8 points it recorded in the corresponding period last year. This is according to the latest Consumer Expectations Survey Report for Q3, 2020

What this means: The slip in outlook indicates that consumers were pessimistic in their outlook for Q3 2020. Respondents attributed this unfavourable outlook to declining economic conditions, family financial situation and declining family income.

The consumers were however optimistic in their outlook for the next quarter and next 12 months with indices of 10.1 and 30.5 points, respectively. This positive outlook could be attributed to the expected increase in net household income, an anticipated improvement in Nigeria’s economic conditions and expectations to save a bit and/or have plenty over savings in the next quarter and the next 12 months

Why this matter: The pandemic negatively impacted consumers’ income and businesses. Hence, the CBN wanted to gauge the impact of this pandemic on their confidence and outlook, both in the past and going forward, through their quarterly survey.

Other Key Highlights:

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  • The unemployment index for the next 12 months remained positive at 35.4 points in Q3 2020, indicating that consumers generally expect the unemployment rate to rise in the next one year.
  • With indices of 20.8 and 5.3 points, consumers expect the borrowing rate to rise and anticipate the naira to appreciate in the next 12 months.
  • Overall buying intention index in the next twelve months stood at 29.7 index points, indicating that most consumers do not intend to buy big-ticket items in the next 12 months. The buying intention indices for consumer durables, motor vehicles and house & lot were below 50 points, which shows that respondents have no plans to make these purchases in the next twelve months.

What you should know

The Overall consumer confidence index is computed as the average of the three indices, namely: Economic Condition, Family Financial Situation and Family Income.

a. Economic Condition refers to the perception of the respondent regarding the general economic condition of the country.
b. Family Financial Situation refers to the level of savings, investments, other assets including cash at hand and outstanding debts.
c. Family Income includes primary income and receipts from other sources received by all family members as participants in any economic activity or as recipients of transfers, pensions, grants, and the like

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