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Business

FG set to lift total shutdown of Third Mainland Bridge at midnight

FG has disclosed that the total shutdown of the Third Mainland Bridge would be lifted at midnight, 24 hours ahead of schedule.

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Third Mainland Bridge is intact and safe for commuters - FG

Mr Olukayode Popoola, the Federal Controller of Works Lagos, in a recent statement has revealed that the total shutdown of the Third Mainland Bridge would be lifted at midnight 24 hours ahead of schedule.

He made this revelation today, 27th of December 2020, while speaking with the News Agency of Nigeria (NAN) in Lagos.

READ: Lagos takes major step towards delivery of Fourth Mainland Bridge

This disclosure comes 5 days after he had disclosed on Tuesday, December 22, 2020, during a media chat, that there would be a 72-hour total shutdown of the Third Mainland Bridge to cast concrete on the expansion joints, starting from 12:00 midnight of 25th of December.

According to him, the total shutdown had to be lifted because the contractor was able to execute the task 24 hours ahead of schedule. As the task which was initially scheduled for 72 hours, was achieved within 48 hours, this however facilitated the quick reopening to traffic.

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READ: Lagos to open Agege Pen-Cinema flyover bridge February 2021

What they are saying

Mr. Olukayode Popoola, in his statement to the News Agency of Nigeria (NAN) in Lagos, said:

“We have completed the casting of the three number expansion joints on Third Mainland bridge. Therefore, the bridge shall be opened at 12:00 midnight Sunday 27th December. and no longer Monday 28th December. That is 48 hours and no more 72 hours.”

READ: Magu probe: New facts suggest case is about re-looting of previously stolen funds

Why this matters

The total shutdown of the Third Mainland bridge, however, was inevitable as it has become important to take rehabilitative measures and precautions to enhance both the structural stability and longevity (durability) of the bridge.

The directive to shut down the bridge, however, was issued to stop vibrations caused by the movement of vehicles for contractors to cast concrete on additional three expansion joints in the ongoing rehabilitation of the bridge.

READ: Ticketing, social distancing, seat drama, my experience on Lagos-Ibadan train ride

While rehabilitation works were on-going on the bridge, traffic was partially diverted on a stretch of 3.5km where construction is ongoing between Adeniji Adele ramp and Ebute Meta, while different time belts were allotted for traffic diversions on the bridge.

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What you should know

Recall that Nairametrics on July 6, 2020, in line with the statement of Mr Popoola, reported that the Federal Government had announced the partial shutdown of Third Mainland Bridge for a period of 6 months, with effect from July 24, 2020, for maintenance work.

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However, the repair works had to be extended by a further one month due to disruptions caused by the #EndSARS protests in Lagos, thereby extending the completion date from January 2021 to February 2021.

READ: FG to complete Marine beach bridge repairs ahead of due date

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Prior to this, The 11.8km bridge which has gone through a series of rehabilitation works was last closed for repairs in August 2018, for 3 days of investigative maintenance check.

In a bid to ensure that the rehabilitation works were properly done, the Federal government had to shut down the bridge for 72 hours from 12:00 midnight of 25th of December, to stop vibrations caused by the movement of vehicles for contractors to cast concrete on additional three expansion joints on Saturday the 26th and on 27th December 2020, in the ongoing rehabilitation of the bridge.

Omokolade Ajayi is a graduate of Economics, and a certificate holder of the CFA Institute’s Investment Foundation Program. He is a business analyst, and equity market researcher, with wealth of experience as a retail investor. He is a business owner and a stern advocate of Financial literacy, who believes in the huge economic prospect of the Nigerian Payment channels and Fintech space.

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Business

NIMC says it has licensed telecommunication companies to provide NIN

The NIMC has said the agency has licensed telecommunications companies to register applicants who do not have NIN.

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FG invalidates SIM integration using BVN generated NIN, applicants must visit NIMC offices

The Nigerian Identity Management Commission (NIMC) has said the agency has licensed telecommunications companies to register applicants who do not have National Identity Numbers (NIN).

This measure is to help reduce the large crowd that besieges NIMC offices across the country for registration with the risk of contracting the Covid-19 disease.

According to a report from Punch, this disclosure was made by the Director-General, NIMC, Aliyu Aziz, while responding to an inquiry with respect to measures taken by NIMC to address the complaints made by citizens and the crowds at the commission’s offices.

Aziz pointed out that mobile network operators had been empowered to also give identity numbers. This is in addition to the licensing of the private and public organization by the commission to provide NIN.

The NIMC boss said, “We have licensed private and public sector organisations including telcos (telecommunications companies) so as to create more centres.’’

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What you should know

  • It can be recalled that the Federal Government had directed that telecommunication companies should block from their network, any SIM that is not registered with valid NINs with effect from December 30, 2020.
  • However, following public outcry, the government gave 6 weeks extension to subscribers without NIN from December 30, 2020, to February 9, 2021, and 3 weeks extension for subscribers with NIN from December 30, 2020, to January 19, 2020.
  • However, many Nigerians and organisations had called for a further deadline extension or outright suspension of the NIN registration process due to the large crowds who had yet to have their NINs.

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Business

CBN disburses N106.96 billion to 27,956 AGSMEIS beneficiaries

The CBN has disbursed a total of N106.96 billion to 27,956 beneficiaries of AGSMEIS.

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CBN releases new guidelines for OFIs, orders inclusion of NUBAN code or face sanctions

The Central Bank of Nigeria has revealed that it disbursed a total of N106.96 billion to 27,956 beneficiaries of Agri-Business Small and Medium Enterprise Investment Scheme (AGSMEIS).

This information is contained in a recent communique from the last MPC report of the CBN.

Recall that Nairametrics had earlier reported the expansion of AGSMEIS beneficiaries to 14,638. In lieu of this, the recent figures show a remarkable improvement of an additional 13,318 beneficiaries.

The apex also revealed that it has disbursed a total of N2.0 trillion as at January 2021. Other key disbursements are;

  • The disbursement of N192.64 billion to 426,016 households and small businesses under the COVID-19 Targeted Credit Facility (TCF).
  • The disbursement of N72.96 billion to the Health Care Support Intervention Facility, directly impacting about 73 projects which comprises of 26 pharmaceutical projects and 47 hospitals and health care services projects in the country.
  • In a bid to support the provision of employment opportunities, the apex bank provided financial support of N3.12 billion to 320 beneficiaries under the Creative Industry Financing Initiatives and N268 million to 395 beneficiaries under the Nigerian Youth Investment Fund.
  • The apex bank also provided N18.58 billion for the procurement of 347,853 electricity reading meters to Discos, in a bid to support the National Mass Metering Programme.

What you should know

  • The Agri-Business/Small and Medium Enterprise Investment Scheme is a Federal Government initiative aimed at supporting efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) in Nigeria, with the long-run goal of achieving sustainable economic development and employment generation.
  • With the CBN AGSMEIS Loan, one can access up to N10M at 5% per year without collateral.

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President Buhari approves local production of helicopters by NASENI

President Buhari has directed NASENI, to collaborate with Dynali Company for the local production of helicopters.

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Travel portal, FG to release 30,000 tons of maize to poultry farmers after import ban, President submits 2021-2023 MTEF to National Assembly, public holiday, inflation, President Buhari reappoints Ben Akabueze as DG Budget office,, #EndSARS Protest: FG denies plans of monitoring calls and social media

President Muhammadu Buhari has directed the National Agency for Science and Engineering Infrastructure (NASENI), to collaborate with Dynali Company, a Belgian Helicopter Manufacturing Company, for the local production of helicopters.

According to a report from the News Agency of Nigeria (NAN), this directive was given by the President at the maiden edition of the meeting of the Governing Board of NASENI at the State House, Abuja, on Tuesday, January 26, 2021.

While presiding over the meeting, President Buhari, who is also the Chairman of NASENI, directed the agency to work towards bridging the gaps in research and technology that keeps Nigeria waiting on other countries for supplies and solutions, especially in tackling challenges like the Covid-19 pandemic.

What President Buhari is saying

Buhari said the agency should play a more pivotal role in equipping the country during emergencies, while encouraging research, upgrading local skills, fabrication and international collaborations that would provoke growth in science and technology.

The President said, “The uniqueness of the mandate of NASENI as enshrined in its enabling law towards the actualisation and realisation of our development programmes such as the creation of Ten Million jobs; Economic Recovery and Growth Programme (ERGP) and Post COVID-19 sustainability Plan.

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“It is only deliberate deployment of Engineering, Science, Technology and Innovation (ESTI) using technology domestication and reverse engineering of capital goods.

“Making them available in Nigeria that can fast-track the realisation of our collective will to build capacity and reduce poverty among our teeming populace. The countries that are at the forefront of economic recovery have only one thing in common: investment and sustained research and development work in knowledge economy.

“Covid-19   pandemic   has exposed the Technology and innovation gap between us and the developed World, which NASENI is strategically positioned to fill.’’

Going further, the President said in order to achieve its full potential, NASENI must be empowered through the provision of adequate financial, human and material resources and be given the autonomy and independence to engage in international partnerships to acquire the relevant technologies for socio-economic and industrial advancement of the country.

He said, ‘’In this regard, I have directed the Honourable Minister of Finance, Budget and National Planning and Federal Inland Revenue Service to commence remittance of funds approved by Law of the Agency.’’

‘’It is important to for members of the NASENI Governing Board to note that Agencies of Governments with a similar mandate as NASENI in many countries are directly under the supervision of their respective Heads of State and Government.’’

While making his own remark, the Executive Vice Chairman of NASENI, Prof. Mohammed Haruna, revealed that the agency had constructed electronic voting systems and was already working on locally produced jet engines and assemblage of passenger and military helicopters.

What you should know

  • It can be recalled that President Buhari had earlier approved the reconstitution and inauguration of the Governing Board of NASENI on March 8, 2018, with a clear mandate to develop local capacity in machine building and fabrication, which would be critical to Nigeria’s industrial development.
  • NASENI was established in 1992 by the Federal Government following the recommendations of the White Paper Committee on the 1991 Report of a 150-member National Committee on Engineering Infrastructure comprising scientists, engineers, administrators, federal and state civil servants, economists, lawyers, bankers and industrialists.

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