Business
Lagos closes Yaba Overpass for 3 weeks for Red Line Rail soil testing
The Yaba Overpass will be closed by the Lagos Government for a period of 3 weeks to allow for Red Line Rail soil testing.
Published
2 weeks agoon
The Lagos State Government has announced that it will temporarily close the Yaba Overpass for a period of 3 weeks with effect from Tuesday, February 9, 2021, to Tuesday, February 23, 2021.
The road closure is in continuation of the Multimodal Master Plan in the transportation sector in Lagos State.
While making the disclosure through a statement, the Lagos State Commissioner for Transportation, Dr Frederic Oladeinde, said that the lane closure is necessary to commence soil testing along Muritala Mohammed Way, Ojuelegba Road, and Tejuosho.
He pointed out that this is part of the Traffic Management Plan to actualise the Lagos Rail Mass Transit (LRMT) Red Line Phase 1, from Oyingbo to Agbado.
The Commissioner, therefore, advised motorists to utilise the main carriageway during the temporary closure, assuring that the State Traffic Management personnel will be available to direct traffic for minimal inconvenience to road users.
Oladeinde also implored residents of the State, especially motorists plying the corridor, to cooperate and support the State Government in its efforts to bring about lasting solutions to the transportation challenges across the Lagos metropolis.
What you should know
- The Lagos Rail Mass Transit is an urban rail system being developed and under construction in Lagos. The system is being managed by the Lagos Metropolitan Area Transport Authority (LAMATA).
- The railway equipment including electric power, signaling, rolling stock, and fare collection equipment will be provided by the private sector under a Concession Contract. LAMATA is responsible for policy direction, regulation, and infrastructure for the network.
- The first two lines of the urban light rail project are estimated to cost $1.4bn. The Red line will be 30km long and will run between Marina and Agbado. The Blue line will be 27km long, connecting Okokomaiko to Marina.
- The Blue line will cost $1.2bn and is being funded entirely by the Lagos State Government.
- The 30km-long Red line will use the existing Nigeria Railway Corporation corridor, constructed through a concession arrangement. The construction of the line will commence in 2021.
- The Red line begins as a double line at Marina and runs through Ebute Ero ending at Iddo. It then runs northwards via a reverse curve to reach Ebute Metta. The line goes straight to Yaba, Mushin and Oshodi before reaching Ikeja.
- At the Ikeja station, the Red line is linked to the line from the international and domestic airport terminal. From Ikeja, a single line will run to the airport terminals. The Red line moves as a double line further northwards from Ikeja to pass through Agege, Iju and finally reaches Agbado.
In continuation of the Multimodal Master Plan in the transportation sector, the Yaba Overpass will be closed temporarily for three weeks from Tuesday 9th to Tuesday, 23rd February, 2021.@jidesanwoolu @drobafemihamzat @dr_oladeinde @lagosmot18 @gbenga_omo @gboyegaakosile #LASG pic.twitter.com/us7evLI3IT
— The Lagos State Govt (@followlasg) February 9, 2021
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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Business
More Nigerians don’t trust government, fear losing jobs more than COVID-19 – Report
The 2021 Edelman Trust Barometer has revealed that Nigerians trust NGOs, businesses more than they trust the government.
Published
25 mins agoon
February 24, 2021
A recent survey has revealed that only 24% of Nigerians have trust in the government which is one of the lowest rates in the world. The report also stated that Nigerians have more fear of job losses than Covid-19.
The was revealed in the 21st Edelman Trust Barometer Survey Report on Nigeria unveiled virtually by Edelman and its Exclusive Nigerian Affiliate, Chain Reactions Nigeria, in Lagos on Tuesday, 23 February 2021.
Presenting the 2021 Nigeria findings with the theme: ‘Pandemic’s Ongoing Impact on Trust’, CEO of Edelman Africa, Jordan Rittenberry, noted that Nigerians are looking to civil society organisations and businesses to assist the government in uplifting communities and driving positive change.
The 2021 Edelman Trust Barometer Report revealed that “out of the four institutions of government, business, media and Non-Governmental Organisations (NGOs), Nigerians trust civil society organisations the most, with businesses coming second.”
Highlights of the survey include:
- Most Nigerians expressed distrust for the media and returned the lowest trust quotient in the world for government with 24%.
- Nigerians overwhelmingly placed the highest Trust in their ‘employers’, and in the process revealed their expectations for CEOs and business leaders to be more pro-active in speaking out on societal issues (92%) and driving positive change (79%) rather than wait for government.
- Nigerians fear losing their jobs more than they fear coronavirus, with a high degree of vaccine hesitancy revealed, as only 26% expressed readiness to take the COVID-19 vaccine when made available.
Laolu Akande, the Senior Special Assistant on Media to Vice President Yemi Osinbajo said: “Distrust in government is not peculiar to Nigeria. However, the government does have the responsibility to up its game in communication, to demonstrate responsibility and responsiveness.”
Akande cited the acclaimed National Social Intervention Programmes, and the COVID-19 Survival Fund as some evidence of the Muhammadu Buhari administration’s unprecedented responsiveness to Nigerians.
In case you missed it
Nairametrics reported last month that only 68.8% of Nigerians believe Covid-19 is real. While 39.9% of Nigerians say they will take the vaccine, 63.3% are opposed to another lockdown, in a report by SBM Intel
Business
SEC denies knowledge of Oando shareholder’s court case
SEC has denied ever being served with court processes with respect to the purported matter at the FCT High court.
Published
2 hours agoon
February 24, 2021
The Securities and Exchange Commission (SEC) has denied the claim by one of Oando Plc’s shareholders, Engr Patrick Ajudua, that he won a court case against the capital market apex regulator.
SEC disclosed in a statement it issued and seen by Nairametrics on Wednesday that there was never a time it was served with court processes with respect to the purported matter at the FCT High court.
It stated, “The attention of the Securities and Exchange Commission (the Commission) has been drawn to several publications in the media, where it is reported that a shareholder of OandoPlc, purportedly obtained a judgment from the Federal Capital Territory High Court against the Commission.
“The Commission wishes to inform the general public that it was never at any time served with court processes with respect to the purported matter at the FCT High court. The Commission will consequently take all necessary steps to verify and set aside the purported decision of the said Court.”
The attention of the Commission has been drawn to several publications in the media, where it is reported that a shareholder of OandoPlc, purportedly obtained a judgment from the FCT High Court against the Commission. Full Statement –> https://t.co/olT2FpxaEK
— SEC Nigeria (@SECNigeria) February 24, 2021
What you should know
- On Tuesday, Ajudua, reportedly won a legal suit, which was filed at the High Court of the FCT against SEC, according to Nairametrics.
- He filed that the directive of the SEC suspending Oando’s Annual General Meeting is in breach of his right to freedom of association as guaranteed under Section 40 of the Nigerian Constitution and Articles 9, 10 & 11 of the African Charter on Human and Peoples Rights.
- In the said hearing presided over by Honorable Justice O. A Musa, all cases filed were granted in his favor.
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Yemi
February 10, 2021 at 5:03 pm
Why not just publish a simple map?