PremiumTimesNG
Channels Television
NTA
NewTelegraph
News
PremiumTimesNG
Opinions
politics
Finance
Education
Agriculture
Fashola
When he was governor of Lagos State, Raji
Fashola was notorious for collecting tolls. The joke used to be that if he
constructed one foot of road, he would charge you for using it. So, when the
news broke recently that he announced the return of tolls on Federal roads,
some in my political orbit started to grumble. “Oh, this man will make us lose
the election in 2019.” “Why do we want to add to the suffering of the common
man now that we are getting ready for elections?” And so on and so forth.
But I am glad that we have someone who is not thinking about
instantaneous, palliative measures that give us the sugar-effect of temporary
joy and excitement which, in the long run, is inimical to our overall growth.
We have someone who has not put dubious electoral victory ahead of
service…functional and enlightened service…to the country.
When
Obasanjo was about to leave office as military Head of State, he cut the tape
to flag off the use of the Lagos-Ibadan expressway in 1978. Boy! Were Nigerians
happy about that road! If you were going to any part of Nigeria from Lagos, you
had to go through that expressway. Those going to the Middle Belt, the East and
the South-South (we didn’t use the word “South-South” in 1978) would use the
road up to Shagamu, take the right turn and continue their journey. Those going
to the North would continue on to Ibadan until the expressway terminated at
Ojoo. Prior to the construction of that expressway, the alternatives were to
take the dangerously winding Shagamu – Ijebu-Ode-Lagos or the
Abeokuta-Sango-Ota-Lagos routes. Either of these routes added three to four
hours to your trip. But once Obasanjo opened the 115 kilometers Lagos-Ibadan
express, it only took on average one hour to get from Ibadan to Lagos. It was
not only faster, it was safer too. And it was good for your overall health and
the health of your vehicle.
To
pay for that road, Obasanjo’s regime did what was done in all civilized
countries. It installed three toll gates – one at the Lagos end; one at the
Shagamu interchange; and one at the Ibadan end. Certainly, a stretch of road
that busy, that important to the economic well-being of the country should be
able to pay for itself and have more than enough left for routine maintenance,
given the high volume of traffic on it. I mean…every merchandized shipped into
Nigeria by sea landed in Lagos. And if the merchandise was going to Nguru or
Maiduguri or Port Harcourt, it went over that expressway. It was imperative
that we maintained that road properly and expanded it as our population and
economy grew. That was the natural order of planning followed by every
forward-looking society where institutions exist as a continuum even when
governments change.
But
within a few years, the Lagos-Ibadan expressway fell apart. Small potholes that
were not quickly fixed grew into manholes. A journey that normally took one
hour now took three if you are lucky and four or five if you traveled when the
churches along the route held their crusades. Rather than doing 100 km/hr., you
are forced to slow down to a crawl, making you vulnerable to armed robbery
attacks on the expressway. The beautiful road of 1978 had become a complete
death trap and eyesore by 1995.
The
government couldn’t do anything about it apart from the occasional patching of
some of the gullies in the middle of it. Most of the funds collected as tolls
never made it to government coffers because the toll collectors stole them. It
was an open secret that every toll collector on that road owned a couple of
houses built with proceeds of those toll booths. I heard of an Inspector in the
police who quit the force to become a toll collector! It was that lucrative.
Collectors, collaborating with their supervisors, of course, printed their own
receipts and issued those to commuters. It was sad. You cannot understand how
sad it was unless you knew one or two people who were killed on that road due
to accidents caused, in part, by the terrible road condition.
Nigerians
love the sound of free things. Everybody loves free things – free education;
free electricity; free water; free TV and free transportation. We want good
things in life but we don’t want to pay for it. But we all know that these
things don’t come cheap and they have to be paid for. In countries where
citizens have gotten used to paying for these services, the services have
gotten better. Take education for example: Nowhere in the United States is
tertiary education free. In some of the countries in the West (Britain and
Germany for example) where you may get university education without paying
out-of-pocket fees, there are all sorts of charges, levies, and taxes that the
citizens have to pay. These things don’t come free at all.
Take
electricity for another example: I don’t care how poor you are in Britain,
America or Germany; you will pay your electricity bill. If you are late for
five days or more in California, there is a punishing late-fee that comes with
it. If you are late for more than one month in Maryland, your electricity
supply will be disconnected. Of course, if you pay your bill on time, you may
never experience electricity outage unless there is a natural disaster like an
earthquake or a tornado. But in Nigeria, we want an uninterrupted supply
of electricity, but we don’t want to pay for it. We watch our neighbor illegally
tap electricity and we beg him to hook us up. We sabotage our own country. Then
we complain about lack of electricity.
Our
attitude of not wanting to pay for services is directly related to the
ingrained corruption in our polity. Every Nigerian knows that the fees you pay
at the passport office are stolen by Immigration officials. The ones you pay at
the airports are stolen by airport officials. The fines you pay the FRSC
officials don’t get to government purse. The money you pay the electricity
company doesn’t get there. School authorities embezzle funds meant for the
upkeep of the schools. Governors shave off huge chunks of the revenues accruing
to the states, some of which are direct taxes citizens that have paid. So,
people have (rightfully) lost confidence in the workability of the Nigerian
system.
Nonetheless,
I join all rational Nigerians in welcoming the re-introduction of tolls on our
highways. In fact, we can start charging tolls on our bridges too. But I do so
on the condition that government should first build great roads. By that, I
mean roads wide enough for vehicles to ply safely, with lane markings that
reflect at night and help keep drivers in their lanes; with effective road
signs for all hazards, including dips, bends, steep hills, dangerous slopes,
cattle and so on. I like to see speed limit signs appropriate for every section
of the roads. I like to see FRSC officials patrol in automobiles and high-speed
motorcycles and some static with speed traps. I like to see these FRSC
officials equipped with Point of Sale (PoS) machines that can aid in their
collection of fines on the spot. I like to see roving towing trucks for all
sizes of vehicles so that we can quickly remove broken down vehicles before
they cause accidents. I like to see rest stops where commuters can rest if they
so wish. I like to see ambulance and firefighter locations. And I like to see
police stations at critical locations.
If
you put these things in place, and you plug all the potential loopholes that
toll collectors can use to steal, Nigerians will pay your toll fees. And they
will do so with smiles. We are not animals. We love good things too. We may
complain at first. But if we can see where our money is going, we will pay.
Look at Ghana and its electricity problem. In 2013 and 2014, the entire country
rationed electricity on a 12-on/12-off basis. One half of the country got
electricity for 12 hours while the other went into darkness for 12 hours. They
switched after 12 hours. But today, electricity is 99.9% stable across the
country. I have not heard my generator in almost a year, save for when the
maintenance guy services it. Yes, the cost of electricity went up by 400% and
people cried. Some workers’ union even threatened demonstrations. But
government embarked on an extensive sensitization campaign which helped douse
tensions. Now nobody complains about the high cost of electricity because they
know stable electricity costs money.
Ever
since I started using the Ft. McHenry and Inner Harbor underwater tunnels in
Baltimore, Maryland (in the U.S.) some 30 years ago, there had always been a
fee. Nobody complains about it. If you are south of Baltimore and you want to
go northward on your way to New York, your best bet is to use one of those
tunnels. Pay the fee and save yourself about one-hour wahala.
If you are taking the I-95 from Baltimore to New York, you will pay tolls like
five times. And the trip is just about four hours. If your flight lands at
Dulles Airport in Virginia and you really want to get to Washington DC in less than
one hour, your best bet is to get on RT 267. No other alternative gets you to
DC in less than three hours.
In
France, the use of most of the highways comes with tolls. Last summer, my wife
and I hit no fewer than seven (7) toll booths on the French section (A4 HWY) of
the four-hour drive from Kaiserslautern in Germany to Paris. In Austria, you
are required to purchase Vignette/Sticker which must be affixed to the front of
your vehicle in order to use their Autobahns (highways). We didn’t get one because
we didn’t know and we were slapped with a 200 Euros fine.
So,
you can see that Fashola is not pulling toll charges out of his buttocks. These
are necessary charges if we want to pay for the roads and bridges we are
building and maintain them to last forever. Remember that the Federal
government invited some private entities to invest in partnerships for the
purpose of raising funds to construct these new roads. Those private entities
have to be paid somehow. Nigerians will pay. They don’t mind paying. But
Nigerians know themselves and they know their leaders. They know their roguish
leaders will steal the proceeds from these toll booths…unless government
invests in foolproof measures to block them.
Abiodun
Ladepo writes from Ibadan,
Oyo State. You can reach him via Oluyole2@yahoo.com
Source: Sahara Reporters
Federal Government to reintroduce toll gates nationwide - Fashola
By: Bhodemarz on November 24, 2017 / comment : 0 Fashola, news, Toll Gate
Babatunde Fashola, minister of
power, works and housing, says the federal government has concluded the plan to
reintroduce toll gates on various highways across the country.
He said this on Thursday while speaking at an
interactive session with the senate committee on the Federal Roads Maintenance
Agency (FERMA).
Fashola said they would be reintroduced in 38
points across the roads.
He added that the toll gates would be brought
back after the completion of the highways.
“We have concluded plans to reintroduce
tollgates across the country,” Fashola said.
“It will be managed by the private sector and
it will be located in the old places. Thirty-eight points across the country.
“We are only waiting for the completion of
those roads before we introduce the toll gates.”
The minister added that road users would be
able to pay for toll on the roads through their phones, and that the money
realised would be used for the maintenance of the roads.
He also said the federal government does not
intent to ask road users “to pay toll on a road that is not good.”
“While the construction (of gates) is going
on, we are working on the design. We want to standardise the design so that
people when we ask people to come and bid for the construction, we can control
what they are going to construct,” he said.
“They are going to construct the materials we
have prescribed. We can also control the price so that nobody is bidding with
disparage prices; there will be the floor and the ceiling. Your price will vary
according to how many plazas you build and not because you claim to have used
‘foreign’ materials.
“The last part we are working on is the
software that drives the management, audit, and payment of toll fares.”
Source: The Cable
FG Comes up With Action Plan for Takeover of Distressed Discos
By: Bhodemarz on November 18, 2017 / comment : 0 Fashola, news, Power
The Power Sector Recovery Programme (PSRP)
recently developed by the federal government and the World Bank to revive
Nigeria’s ailing power sector, has come up with an action plan for the sweeping
restructuring of the 11 electricity distribution companies (Discos) that would
enable government to take over any Disco found to be insolvent.
Details of the action plan, which THISDAY got
from a workshop organised by the Ministry of Power, Works and Housing to
educate the media on the expected workings of the PSRP, indicated that the
government is planning to restructure the Discos to meet their responsibilities
in the country’s privatised electricity market after a thorough forensic review
of their operations.
The workshop was held on Wednesday evening in
the ministry in Abuja. It had in attendance the Minister of Power, Works and
Housing, Mr. Babatunde Fashola, the two ministers of state – Mr. Mustapha
Shehuri and Mr. Suleiman Hassan – as well as heads of parastatals in the
ministry, all of whom took time to explain the government’s plan in the PSRP.
The report further made recommendations for
the Nigerian Electricity Regulatory Commission (NERC) to engage the Discos on
revised business plans, which will be negotiated, finalised and implemented.
It also requires the government to “start the process of restructuring Discos that are found to require new capital injections”.
It also requires the government to “start the process of restructuring Discos that are found to require new capital injections”.
“This would involve NERC, BPE (Bureau of
Public Enterprises), the Discos and other relevant parties. This may also
involve the takeover of Discos with degraded financial positions,” said the
PRSP report.
It however explained that before the takeover, technical competence reviews including forensic audits of all the Discos and the adequacy of their technical partners, should be undertaken to ensure that they had not failed in their initial agreements with the government after the privatisation exercise.
It however explained that before the takeover, technical competence reviews including forensic audits of all the Discos and the adequacy of their technical partners, should be undertaken to ensure that they had not failed in their initial agreements with the government after the privatisation exercise.
The document also revealed that there was an
ongoing audit of the performance agreements and all direct agreements the
government signed with operators in the sector to ensure that it was in
compliance with its obligations.
It explained that there should also be measures to address the operational challenges of the Discos, which should include: “Develop case studies to determine the level of load rejections in the network, develop investment plans with clear impact analyses for increase in load across the network and in metering, and ensure regulatory measures are enforced.”
It explained that there should also be measures to address the operational challenges of the Discos, which should include: “Develop case studies to determine the level of load rejections in the network, develop investment plans with clear impact analyses for increase in load across the network and in metering, and ensure regulatory measures are enforced.”
Also at the workshop, the Managing Director
of the Nigerian Bulk Electricity Trading Plc (NBET), Dr. Marilyn Amobi,
debunked claims by the Discos through their umbrella association, the
Association of Nigerian Electricity Distributors (ANED), that the electricity
they distribute to Nigerians at an average of N31 per kilowatts hour (kWh) is
retailed to them at N68/kWh.
Amobi, in her response to a question on how
much the NBET really sells the electricity it procures from the generation
companies (Gencos) to the Discos, stated that its retail price per kWh of
electricity to the Discos had not exceeded N18/kWh.
Source: This Day
79 critical road portions need fixing before Christmas, FRSC tells Fashola
By: Bhodemarz on October 26, 2017 / comment : 0 Fashola, federal roads, FRSC, news
The Federal Road Safety Corps, FRSC, says
there are 79 portions in the critical road corridors in the country calling for
federal government’s attention before the yuletide.
FRSC Corps Marshal, Boboye Oyeyemi, said this
in an interview with the News Agency of Nigeria at the FRSC Academy in Udi,
Enugu State on Thursday.
Mr. Oyeyemi said that the corps had been
talking with the Ministry of Power, Works and Housing on how best to put most
of the critical road corridors in shape before the yuletide.
“We have submitted a report containing 79
portions in the critical road corridors throughout the country to the Minister
of Power, Works and Housing.
“We believe the report will be given due
attention before the yuletide,” he said.
According to him, it is also necessary to fix
critical road corridors to check traffic build-ups.
“We thank God that the Minister of Works has
graciously agreed to our plea of fixing and doing palliative works on most of
the critical road corridors identified.
On Ember month programme, the FRSC boss said
the corps was ready to carry out comprehensive enforcement of traffic
violations, to serve as deterrent for negative road habits and negligence.
“We will critically look out for expired
tyres, speed limiting device (for commercial buses), overloading, reckless
driving, seat belt usage, driving licence, among others.

“All these range of items and compliance,
when got right, will engender safe and secured road for all road users in all
our road corridors during the ember months.’’
He also said that all Zonal, Sector, Unit and
Route Commanders had been “well briefed’’ on what to do and look out for,
assuring that the corps would be more proactive ever than before.
Mr. Boboye noted that with the rainy season
coming to an end and the heat on the increase, it became imperative for drivers
to use quality tyres that would stand increasing heat.

“Our people must consider safety and life
first and not just looking at cost alone.”
Mr. Oyeyemi called on road users to cooperate
with FRSC officials and volunteers to ensure a safe and free-flowing traffic
especially during the yuletide season.
Mr. Oyeyemi is on a three-day working visit
to the FRSC Academy in Udi, Enugu State where he inaugurated promotion course
and examination for 179 officers on Wednesday.
The officers, who are being considered for
promotion from Assistant Route Commander to Deputy Route Commander are drawn
from all sections of the corps in the country.
The course and its examination will run for
two weeks with various professionals coming to lecture and organise practical
sessions with them.
Source: PremiumTimesNG
FG releases #100billion Sukuk bond proceeds for 25 road projects
By: Bhodemarz on October 06, 2017 / comment : 0 DMO, Fashola, finance, Kemi Adeosun, Sukuk
The Federal Government on Thursday released
the proceeds of the N100 billion Sukuk bond for 25 road projects across the country.
The Minister of Finance, Mrs. Kemi Adeosun,
handed over the N100 billion proceeds cheque to the Minister of Power, Works
and Housing, Mr. Babatunde Raji Fashola, in Abuja.
The federal government had issued the
sovereign debut Sukuk of N100 billion in September, which was successfully
completed last week.
The Sukuk bond has a tenor of seven years.
Adeosun said the offer was oversubscribed to
the tune of N105.87 billion.
She also said the milestone was a sign of
confidence in the Nigerian economy and the administration of President
Muhammadu Buhari.
The minister added that the Sukuk proceeds
would unlock the potentials of Nigeria.
She said: “This is the first Sukuk bond
issuance for Nigeria. It is about financial inclusion and deepening of our
financial markets. The proceeds will be used to further support government
capital spending for 2017 – the construction and rehabilitation of 25 key
economic roads across the six geo-political zones of the country.”
“The roads will ease commuting, spur economic activities
across the country and further close our infrastructural gap.”
“Each of the geo-political zones of the
country is expected to receive the sum of N16.67 billion for road projects in
their respective zones.
The North Central and South- South Zones
accounted for five each of the 25 key economic road projects, while the North
East, North West and South East have four road projects each.
“Three projects are to receive funding from
the Sovereign Sukuk proceeds in the South West Zone.”
Earlier, Fashola commended the Finance
Minister, the Director-General of Debt Management Office, Ms. Patience Oniha
and the financial advisers for the bond issuance for their painstaking efforts
aimed at realising the milestone.
He assured the ministry’s contractors that the
federal government was committed to the funding of its infrastructural projects
across the country.
Source: thenationonlineng.net
Fashola debunks MDA debts of N90bn claimed by DisCos
By: Bhodemarz on September 22, 2017 / comment : 0 Fashola, news, Power
Minister of Power, Works and Housing, Mr Babatude Fashola
has stated that out of the estimated MDA debts of about N90Billion claimed by
the DisCos, only about N27Billion has been verified as debts owed by the FGN.
The Minister who stated this while delivering a key note
address at the 3rd National Council on Power (NACOP) with the theme: “Complete
Power Sector Reforms” in Jos, Plateau State on Thursday said there are invoices
which show that other parts of the debt are attributable to service points at
States and local governments.
He implored states and local governments to insist that
their buildings are metered so that they can budget for and pay for energy they
use adding that this will turn out to be cheaper than diesel generated power
and also help reduce loss of income by DisCos.
“Furthermore, I urge state Governments to set up small
teams with audit capacity to verify debts owed by them and their local
governments, ascertain the quantum and develop a payment plan which can then be
budgeted for. This will help to reduce the liquidity issues and contribute to
the reforms” He advised.
The Minister further pointed out that the Government has finally approved the award of
the 3,050 MW Mambilla hydro power project after over 40 years of starts and
stops adding solar foot print is growing but not just because of what the FGN
is doing but because of what Nigerians are doing in their states.
Fashola who disagreed with those calling for the
cancellation of privatisation of power sector by the federal government stated
that money realised from the exercise were used to settled staff of the PHCN
adding that if cancelled there must be refund which must be paid in dollars
with the current rate.
“As we are all aware, there have been comments about how
effective privatization has been in the power sector and some people have
called for its cancellation which I disagree with.
“However, I agree that there are problems, I understand
that 4 (FOUR) years post privatization is a transition period, and some more
work needs to be done before the expected benefits of privatization come to
fruition.
”That is why we developed the Power Sector Recovery
Programme (PSRP) which are a set of policies, programmes and actions aimed at
solving Generation, Transmission, Distribution, Liquidity, Metering, Estimated
Billing, Energy Theft, Safety and other challenges” he said.
According to him, while the country is beginning to see
results of increased generation up to 7001MW on 12th September 2017,
Transmission up to 6,700 MW and Distribution 4,600 adding that such result is
not yet enough.
Let me state emphatically that everything in the PSRP is
based on the 2005 Law and that is why I urge everybody to read it.
In his address, Governor Simon Lalong debunked the
insinuation doing the round that Plateau State is in crisis adding that the
unfortunate incident that happened in the state capital last week Thursday was
nip in the bud and normalcy restore immediately.
According to him, as a result of this, the curfew imposed
on the state at wake of the disturbance will be relaxed from Thursday to 12; 00
am to 6:00 am and assured those who want to come to the state not to exercise
any fear.
Source: www.tribuneonlineng.com
Nigeria announces $5.8 billion deal for record-breaking Mambilla power project
By: Bhodemarz on September 18, 2017 / comment : 0 Fashola, Mambilla, news, Power, tech
According to CNN, the government of Nigeria has announced the award of a $5.8 billion contract to build what will be the largest power plant in the country.
The
3,050-megawatt Mambila hydroelectric power project in the state of Taraba will
be delivered by a consortium of Chinese state-owned construction firms.
The
megaproject will feature four dams between 50 and 150 meters tall, and take six
years to complete, the Minister of Power, Works and Housing, Babatunde Fashola,
told reporters in Abuja.
The Chinese
Export-Import Bank will finance 85% of the development, with the Nigerian
government contributing 15%.
Minister
Fashola claimed the project will deliver far-reaching benefits.
"(Mambila)
will have a transformational effect on all of Nigeria's socio-economic
development," he said through a government spokesman,
"It will have considerable positive impact on electricity supply
nationwide, productivity, employment, tourism, technology transfer, rural
development, irrigation, agriculture and food production."
False starts
The Mambila
hydropower plant has been in development for over 30 years, but previous
administrations have made little progress.
In 2007, the
Nigerian government awarded a $1.4 billion contract to two Chinese construction
firms for a 2,600-megawatt plant, but the agreement broke down soon after.
Attempts
were made to revive the deal without success. But the deadlock was broken by
conversations between the presidents of China and Nigeria in 2016, according to
the spokesman of Nigerian President Muhammadu Buhari.
"The
major breakthrough in the execution of this project was achieved when President
Muhammadu Buhari initiated discussions at the level of the President of the
Peoples Republic of China in the course of his State Visit (in 2016)," wrote government official Garba Shehu.
The meeting
resulted in the creation of a consortium of Chinese companies to deliver the
project, according to Shehu, and an agreement that the Chinese government would
commit finance to it.
Power shortage
Despite
being one of the largest economies in Africa, over 40% of Nigerians live
without access to electricity, according to World Bank figures.
Hydropower,
one of the cleanest and cheapest forms of power, is a key target for
development as Nigeria is currently exploiting just a fraction of its potential
resources.
The country
is also seeking to shift away from oil dependency, after plummeting oil prices
triggered a recession.
The clear
need for the Mambila project could make it more likely to succeed, some
analysts believe.
"The
prospects of project implementation starting are perhaps stronger than in
previous decades," says Elizabeth Donnelly, deputy head of the Africa
Programme at UK think tank Chatham House. "Nigeria continues, albeit
slowly, with its complex power sector reform and badly needs to generate - and
more importantly distribute - more power for its 180 million people."
"Hydroelectricity
is an important part of this mix, particularly for rural electrification."
Jonathan's administration Plunged Nigeria Into Recession – Fashola
By: Bhodemarz on September 16, 2017 / comment : 0 Fashola, jonathan, opinions, Recession
Nigeria’s Minister of Power, Works and Housing, Babatunde Fashola, on Friday gave insight into how Nigeria slipped into recession.
Mr. Fashola, who spoke at the Lafarge Road Construction Summit in Lagos, said recession didn’t happen overnight and attributed the development to poor budgetary funding by the administration of former president, Goodluck Jonathan.
“There have been various comments about who and what caused the recession, I think that Nigerians know the answer to that, no matter how vehemently that debate goes on,” Mr. Fashola said.
“All I need to say at this time is that if the previous managers of the economy were doing well, the Nigerian electorate would not have relieved them of their jobs in the last general election because a recession does not happen overnight.
“There have also been questions about what the exit of the recession means to the ordinary Nigerian and this for me is the important question; because, even when the economy was growing at 5%-7%, the complaint was that it was a non-inclusive growth.
“Growth was largely oil driven, and sectors like industries, mining and construction had been in the negative since 2014.”
Mr. Fashola said many reasons had been given for the negative trend in the mining and construction sectors, adding that a core reason was the fact that public spending up to 2015 was largely recurrent and minimally capital.
“Government was budgeting about 15% of an annual budget of N4 Trillion for capital, which is only about N600 billion, and was funding barely half of that,” he said.
“If an example is required, it will be found in the 2015 budget, which was the last budget of the previous managers of the economy, where N18 billion was budgeted for all of Nigeria’s roads, N5 billion was budgeted for Power and N1.8 billion was budgeted for Housing.
“As if these were not bad enough (but) barely half of these budget provisions were funded.
“The result therefore was that massive debts were owed to contractors who started laying off workers and closing down worksites, and not driving demand for labour, aggregates, lubricants, etc.
“The 2016 budget of the Buhari government changed that,” the former Lagos governor said.
Mr. Fashola explained that in the Ministry of Power, Works and Housing, a total of N422.9 billion was budgeted, and disaggregated with Works getting N260.082 billion while Power got N91.257 billion, and Housing was allocated N71.559 billion.
“The total sum of N269.271 billion was paid out to fund this budget and in the final analysis N1.2 trillion was spent on capital expenditure across all ministries, departments and agencies in the 2016 budget.
“Out of these N198.300 billion was spent in the works sector on roads and bridges. This is what induced the recovery of growth and the exit from recession.
“It is the exact opposite of what the previous managers of the economy had been doing,” he explained.
In early September, Nigeria broke the cycle of negative GDP growth that characterized a period of recession, and recorded a 0.55% growth that takes her out of recession.
On Friday, the National Bureau of Statistics, NBS, announced that the nation’s inflation rate dropped again for the seventh consecutive month.
Nigeria slipped into recession in the early part of 2016.
Commenting further, Mr. Fashola revealed that the Dangote group had decided to extend the construction of Apapa-Wharf road.
Mr. Fashola said: “You’ll recall that we had an agreement with the Dangote group to rehabilitate and reconstruct the Apapa Wharf road using cement.
“They have since come back to say ‘we want to take the entire road network from Apapa, Liverpool, all through to Marine beach to Mile 2 to Oshodi to Oworonshoki and to the Toll Gate, a stretch of 35km so that we develop one solution to the port evacuation problem’.
“We held a meeting on Tuesday, we have agreed that this is the route they will take and they have written back to confirm their commitment and what is left is for the design consultant to complete the design so that we then use that to determine the cost and we use this solution to solve that road network using concrete.”
The Nigerian government had, in June, signed a N4.34 billion memorandum of understanding with Dangote Construction Company Ltd and other stakeholders for the construction of the road.
Source: premiumtimesng.com
Subscribe to:
Posts (Atom)
Featured post
The untold story of Kaduna teachers’ competency test by Isah Abbas Ahmed
Recently, Kaduna State Governor was quoted saying about 21,780 out of 33,000 Kaduna State teachers failed primary four test conducted by ...

Popular Post
-
Former Lagos State governor and National Leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu has said that there is urgent...
-
Radio Biafra stunned its audience on Tuesday when the new leader of the proscribed Indigenous People of Biafra, IPOB, Ezenachukwu Okwudil...
-
Two years ago, I came across a comic story on facebook and it really cracked me up. The tale was about Nigerians being their own governme...
-
United States Government has said it does not consider Indigenous People of Biafra a terrorist organisation. Last week, the Federal Hig...
-
“I would like to be realistic to say a few words concerning health delivery system in Nigeria. It is very poor, sorry to say that. I am h...
Labels
news
opinions
politics
Buhari
Nigeria
finance
Biafra
IPOB
boko haram
Anti-corruption
Nnamdi Kanu
2019 election
corruption
history
Health
NNPC
osinbajo
economy
education
CBN
Goodluck Jonathan
debt
tech
EFCC
Agric
Baru
Police
2018 Budget
DMO
El-rufai
Maina
hate speech
independence
APC
Atiku
Fashola
Restructuring
north-east
Ibe Kachikwu
NPA
Nigerian military
Olusegun Adeniyi
Power
Quartz Africa
Recession
Fayose
Kemi Adeosun
presidency
security
#MainaGate
CAN
INEC
Malami
Nigeria Army
Reuben abati
SGF
Sukuk
UN
World Bank
Bolaji Abdullahi
CJN
Chibok-girls
Kaduna teachers
Nigerian Army
Ogbeh
PDP
Restructure
Tinubu
UNGA
customs
pendulum
sports
#EaseBizNG
Aisha Buhari
Arewa
FRSC
Femi Adesina
Femi Falana
Fintech
IDPs
Igbo
Italy
Jiti Ogunye
Judiciary
Kachikwu
Magu
Medical vacation
Monkey Pox
NBC
NEITI
National Assembly
Nigeria Airways
Obasanjo
Okorocha
Poverty
Python Dance
Sagay
Senate
South East
Tax Holiday
VAIDS
garba shehu
interviews
kaduna
kidnapping
migrant
oil
resume
seized arms
sick
social media
special courts
vacation
#NotTooYoungtoRun
ASUU
Akwa Ibom
Alex Ekwueme
Amnesty International
Artificial Intelligence
AsoVilla clinic
Aviation
Ayo Salami
BVN
Bonds
BudgIT
Buharist
Charlyboy
Codeine
Diezani
Emefiele
FEC
Forex
GDP
Governors
Gowon
IMF
Intels
MPC
MTEF
Muhammadu Buhari
NBS
NJC
NSCIA
Nigerians
Oby Ezekwesili
Ojukwu
Osun
Pius Adesanmi
SERAP
Sallah
Saraki
Shehu Sani
Stears Business
StearsBusiness
Stella Oduah
Super Eagles
TSA
Terrorist organisation
Toll Gate
UK
US Embassy
ads
aso rock
cabal
dollars
election
jonathan
lagos
medical tourism
military
muslim
naira devaluation
premium times
president
rat
religion
resign
school feeding programme
simon kolawole
states
terrorism
tourism
trump
unity
#DasukiGate
#NGOBill
#OduahGate
#State of States
2015 election
2019
3SC
APGA
Abike Dabiri
Accidents
Adebola Williams
Adewole
Adoke
AfDB
Africa
Agbakoba
Agca Love
Agribusiness
Airforce
Airport concession
Aishah Ahmad
Ajimobi
Akeredolu
Akpabio
Alison Maduake
Allah
Aluko
Amaechi
Amamgbo
Ambode
Amina Mohammed
Amosun
Anambra Election
Area fada
Aregbesola
Arewa Initiative
Army
Asaba Massacre
Atikulation
Awolowo
BBOG
Bama
Benue flood
Bishop Kukah
Bitcoin
Borno state
Britain
British American Tobacco
Buharimeter
CITES
CRUTECH
Catalan
Charles Ogbu
Chevron
Chidi Odinkalu
Christianise
Collins Nweze
Coscharis
Cryptocurrency
Cyber crime act
D8 summit
DG
Dambazzau
Danbatta
Dangote
Defence
Dino Recall
Doctors
Drug Abuse
ECOWAS
ECOWAS Single currency
EIE
EITI
Economic Agenda
Eid-el-Kabir
Ekiti
Elon Musk
Ethnic Cleansing
Ethnic crisis
Ethnic pride
FAAC
FG
FIRS
FTASummit
Falana
Fela
Festus keyamo
Feyi Fawehinmi
Ford
Free Speech
Fulani
Garba Kamba
Ghost workers
Globalization
Governance
Grassroot development
Hameed Ali
Hausa
Herdsmen
Hope uzodinma
ICT
IG
IGP
ISIS
ITU
Identity holiday
Ikpeazu
Imo
Islamise
Italy Migrants
JOHESU
Jamb
Jega
Ken Saro-Wiwa
LG
Lai Mohammed
Lake rice
Leadership
Libya
London
Louis odion
Luxury tax
MKO Abiola
Mambilla
Mandela
Mark Zuckerberg
Micheal Ace
Mike Ozekhome
Ministers
Mo Ibrahim Foundation
Mohammed Tunga
Morocco
Muazu Adamu
Mubi
NAF
NASS
NBCNigeria
NCC
NCDC
NERDC
NES
NFF
NGF
NGO bill
NHIS
NIA
NIBSS
NOA
NSE
National Airline
Nuclear Treaty
Nuclear plant
OIC
OPEC
Obama Summit
Obituary
Ogoni
Oil and gas
Oil asset
Ola sunday
Omokore
Oyo state
PPP
PPPRA
Paris Club refund
Patience Jonathan
Peregrino brimah
Plateau killings
Pope John Paul
Rats
Recovered loot
Refineries
Rivers massacre
Rohr
Russia
Russia 2018
SDG
SMEs
SPN
SSANU
Self-sabotage
Seun Onigbinde
Shekarau
Shettima
South Africa
Southern Governors forum
Strike
Sule Lamido
Sultan
TUC
Taiwo Odukoya
Terrorist
Thailand
The Economist
The Fountain of Life Church
ThriveAgric
Tony Elumelu
True federalism
Tunde Bakare
UAE
UCH
UNHCR
UNICEF
USA
WAEC
War
Winter Olympics
Workers’ Salary
YNAG
Yar'Adua
Yerima
Yoruba
Zahra Buhari
Zamfara Bandits
Zuma statue
adeboye adegoke
airport
ayisha osori
azuka onwuka
balarabe Musa
blockchain
bombs
bornochild
budget
cashless
christian
citizens
civil war
climate change
crime
egina
empowerment
federal roads
france
freedom of speech
fuel subsidy
government
hadiza bala usman
hailers
housing
ify aniebo
inequality
ishiekwene
jobseekers
kudi.ai
malabu deal
male fertility
mayowa tijani
mineral resources
museum
music
muslims
negotiable
nonso robert attah
off-grid
oil cut
olonisakin
out of school children
peace
plane crash
political party
politicians
population
presidential broadcast
prison
promotion
public holiday
return
revenue
rights
rosewood
senator
sivk
sokoto
sorghum
sponsored
suicide
tambuwal
trial
uber
university
utme
visit
wailers
welcome
welcome back
yomi fawehinmi