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Buhari to commission Lagos-Ibadan railway January 2021, starts operation November 2020

Amaechi disclosed that the Lagos-Ibadan railway will be commissioned in January 2021 by President Buhari.

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Nigeria concludes plan with Russia to modernize railway infrastructure, FG announces Ibadan–Kano Rail Project would begin First Quarter 2020 

The Minister of Transportation, Mr. Rotimi Amaechi, has announced that President Muhammadu Buhari will commission the Lagos-Ibadan railway in January 2021 to improve movement for cargoes and passengers in the country.

Amaechi made the disclosure during an oversight visit from Lagos to Ibadan to inspect the ongoing construction of the standard gauge in Ibadan on Saturday.

READ: Banks to hold shipowners accountable for $200m CVFF disbursement 

The Minister said that the contractors had done their best with the project while attributing weather conditions as one of the challenges being faced by the contractors.

Amaechi said, “We have cooperation from the various communities along with the standard gauge construction. The contractors have done what they could do but the problem is a change in weather. They couldn’t work beyond that period, besides that, I think the contractors have done well.’’

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

“The construction is coming to an end, they are trying to beat the target they gave the ministry of transportation because there is a huge improvement. Is there any facility in Nigeria that is better than the one in Ebute-Meta?” he asked.

The Minister tasked the contractors on the Lagos-Ibadan railway line to ensure completion of all the stations by December including the Apapa station which started late, so it can be commissioned and the route made fully operational. He said the contractors have also given us a timeline.

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READ: Transport Minister sets April 2020 deadline for Lagos-Ibadan railway project 

Amaechi said that the transition period between now and January would enable the Federal Government to acquire the Right of Way for the Lagos-Ibadan route.

He urged people trading along the rail line to please move far away from the tracks as it is unsafe to peddle around the tracks, and emphasized that it could be difficult to embark on perimeter fencing, adding that the fence constructed in Warri had been pulled down by hoodlums.

The Chairman, Board of Nigeria Railway Corporation (NRC), Alhaji Ibrahim Musa, said in the course of the project, the NRC management sat with Lagos Metropolitan Area Transport Authority (LAMATA) and agreed on areas where overhead crossing and bridges would be constructed.

READ: FG announces Ibadan–Kano Rail Project would begin First Quarter 2020 

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Musa said, “We agreed that some bridges and overhead crossing will be constructed by the Federal Government, while others will be done by state governments. For instance, we constructed new two-line bridges at Costain and brought down the old ones to enable us to have access.’’

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“As we are coming, you can see that passengers’ movement is under the track, while in some places we could see overhead bridges from Lagos to Ibadan in consideration of human and goods trafficking along the corridors,” he said.

READ: N50 billion bond meant for road constructions – Ondo Governor

Musa said that the standard gauge between Lagos and Ibadan was the first moving train compared to the narrow gauge that the country had in the past.

He said that although people were still asking for more access to the corridor; however, they would be considered based on merit and the finances available on the ground.

READ: OPay management denies payment issue as ORide riders protest against NURTW

The Director of Railway, Federal Ministry of Transportation, Mr. Babakobi Muhammed, said the ministry officials held meetings with the Transportation ministries of Lagos, Ogun, and Oyo states to ensure safe corridor for the train.

The Managing Director, Nigeria Railway Corporation, Mr. Fidet Okhiria said that the corporation would start the Lagos-Ibadan train transportation in November to reduce road traffic during the festive period.

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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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FG upscales digital skills training, to train 500,000 youths

Ministry of Youths and Sports Development is set to scale up its digital skills training to cover 500,000 youths.

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President Buhari to address Nigerians on Lekki toll plaza shootings after investigation , Youth Investment Fund:  Ministry of Finance and CBN to launch provision of funds- Minister

The Ministry of Youths and Sports Development is set to scale up its digital skills training to cover 500,000 youths across the country after securing funding under the COVID-19 stimulus budget.

This information was shared by the personal Assistant on New Media to President, Bashir Ahmad.

READ: Lessons Nigeria can learn from Microsoft’s Global Skills Initiative 

What you should know

Recall that Nairametrics had earlier reported that the Federal Executive Council had approved the N2.3 trillion stimulus plan recommended by the Nigerian Economic Sustainability Plan.

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READ: FG releases new details on MSMEs support scheme, budgets N200 billion for loans

Why it Matters

Given the impact of the pandemic on income and business activities, the Federal Government of Nigeria, took a reactionary approach by instituting a COVID-19 stimulus budget.

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In light of this, the ministry of youths and sports development has sought to tap from this fund for human capacity training and development, which in return has the potential to boost future income/profit and economic activities in general through impacting youths with the pre-requisite digital skills needed in the 21st century work place.

READ: CBN reveals framework for the N75 billion Youth Investment Fund

READ: FG to provide financial support for 1.7 million businesses, individuals in next 3 months

What they are saying

Commenting on the latest development, the minister of Youths and Sports Development, Mr. Sunday Dare said: “The Economic Sustainability Plan (ESP) has taken into cognizance the DEEL initiative, and I am glad to announce that we have gotten approval for the funding of a 12-month programme under the initiative that will see 500,000 of our youths upskilled in different digital skills.

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READ: De facto Government: CBN explains why it will keep funding the economy

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Lagos sets up Graduate Internship Programme with a monthly stipend of N40,000 for youth beneficiaries

The State Government has launched a programme to help candidates develop skills that are needed in securing gainful employment.

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Bond: Lagos to rAN100 billion for infrastructural development, COVID-19: Lagos asks civil servants to stay at home, No public buses between 7pm and 6am, Okada ban takes effect from May 4 – LASG, No public buses between 7pm and 6am, Okada ban takes effect from May 4 – LASG, Sanwo-Olu gives incentives to businesses to prevent job loss, #EndSARS: Sanwo-Olu visits victims of Lekki shootings, promises to investigate incident , Lagos sets up Graduate Internship Programme with a monthly stipend of N40,000 for youth beneficiaries

Lagos State Governor, Babajide Sanwo-Olu, as part of efforts to reduce the rate of unemployment in Lagos State, has approved an internship programme for 4,000 unemployed graduates.

This was disclosed in a statement by the Honourable Commissioner for Wealth Creation and Employment, Mrs Yetunde Arobieke via the official Twitter handle of the Lagos state government.

An excerpt from the statement reads,

As part of efforts to reduce the rate of unemployment in Lagos State, Gov. Babajide Sanwo-Olu has approved Internship Programme for 4,000 unemployed graduates in line with the T.H.E.M.E.S Agenda of the present administration and the Youth Development Programme of the State.”

Mrs Yetunde Arobieke said the Graduate Internship Placement Programme is designed to give candidates the opportunity to develop employability and work-ready skills that are needed in securing gainful employment.

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(READ MORE:Sanwo-Olu reads riot act to hoodlums over ethnic clash, promises compensation)

She added that the Internship Programme will be addressing the third and fourth pillars of the present administration’s T.H.E.M.E.S agenda.

What you should know

  • Applicants must possess NYSC Certificates or letters of exemption.
  • Applicants must be registered residents of the State with Lagos State Residents Registration Agency, LASRRA.
  • The Graduate Internship Placement Programme is for a period of six months, of which a monthly stipend of N40,000 will be paid for the duration of the internship.
  • Interested candidates can apply through the dedicated link for the programme: http://gipplasg.lagosstate.gov.ng.

Why it matters

The Graduate Internship Placement Programme is expected to play a major role in reducing the rate of unemployment in Lagos State. It will provide candidates, the opportunity to develop key skills that will boost their employability, in a bid to secure gainful employment.

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At the end of the programme, beneficiaries would have gained valuable work experience, built up their professional skills and would have been exposed to entrepreneurial opportunities to strengthen their professional skills and interpersonal relationships.

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CBN discloses eligible businesses, those ineligible to apply for N75 billion Youth Investment Fund

The CBN has revealed businesses and applicants that are either eligible or ineligible to apply for the Nigeria Youth Investment Fund.

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The Central Bank of Nigeria (CBN), has disclosed businesses and activities that are eligible to benefit from the Nigeria Youth Investment Fund (NYIF), which was recently launched by the Federal Government. The apex bank also pointed out the applicants that are not eligible to apply to benefit from the funds.

This was disclosed in the framework for the implementation of the Nigeria Youth Investment Fund, published by the Central Bank of Nigeria and signed by its Director, Development Finance Department.

READ: CBN’s N50 billion loan: NIRSAL warns Nigerians against fake loan adverts

READ: NIRSAL MFB to offer loans to SMEs at 5% interest rate

Those Ineligible to apply

In the publication, applicants who are ineligible to apply for the funds, which is an initiative of the Federal Ministry of Youth and Sports Development are:

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  • Applicants that are currently enjoying NIRSAL Microfinance Bank (NMFB) loans – which includes Targeted Credit Facility (TCF) and Agribusiness/Small and Medium Enterprises Investment Scheme (AgSMEIS) loans, that remains unpaid.
  • In addition, beneficiaries of other government loan schemes that remain unpaid are also not eligible to participate in this scheme.

READ: CBN introduces N250 billion stimulus package for gas investment to ease pain of fuel price increase

Eligible Businesses/Activities

The CBN also outlined in the framework, the businesses and activities that are legally allowed to be eligible in the scheme. These include;

  • Technology/Innovation
  • Agriculture and related value chain
  • Green Economy and Renewable energy sector
  • Manufacturing
  • Hospitality/Tourism
  • Construction
  • Logistics and supply chain
  • Healthcare value chain
  • Creative sector
  • Trading and services
  • Others as may be determined by NYIF/CBN from time to time.

READ: FG launches application for N75 billion Youth Investment Fund at 5% interest, how to apply

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READ: CBN reveals framework for the N75 billion Youth Investment Fund

The CBN, however, states that preference shall be given to enterprises that will support the growth of priority sectors, specifically those identified by the Economic and Recovery Growth Plan (ERGP) and the Nigerian Youth Employment Action Plan.

The Federal Ministry of Youth and Sports Development is expected to collaborate with relevant stakeholders to identify potential youths for training and mentoring. The youths that are duly screened (and undergo the mandatory training where applicable) shall be advised to log on to the portal provided by the NIRSAL Microfinance Bank (NMFB) to apply for the facility.

READ: Ruffer ’50 cent’ makes $2.6 billion, as Coronavirus strikes financial market

READ: NIPOST now set to deliver 2000 outlets for proposed NIRSAL MFB

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What you should know

The N75 billion Nigerian Youth Investment Fund was set up by the Federal Government to invest in the innovative ideas, skills, and talents of Nigerian Youth and to institutionally provide the Nigerian youth with a special window for accessing much-needed funds, finances, business management skills, and other inputs critical for sustainable enterprise development.

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The Federal Ministry of Youth and Sports Development is the lead implementation entity and is responsible for budgetary provisions and for funds mobilization.

READ: FG’s directive on IPPIS does not affect us – ASUU

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