Business
Minister Decries Slow Pace Of Work On Baro Port
The Minister of Transport, Alhaji Yusuf Suleiman on Friday in Baro, Niger, decried the slow pace of dredging at the Baro Port by the contractors.
Suleiman, who paid an inspection visit to the lower River Niger dredging project, noted that the project was awarded to CGGC Zhang Heng, a Chinese Company in December 2009.
He said that by now there ought to have been physical structures such as administrative buildings on site.
He described the attitude as lackadaisical, adding that based on general views of those who had visited the site earlier. It was as if no work was on-going.
According to him, some of the indigenes confirmed that the contractors only mobilised to the site that morning because they were aware of the minister’s visit.
He urged the contractors to expedite, saying that if by his next visit in three months and no tangible progress was made, he would not hesitate to take some drastic actions.
“I am not impressed with what I have seen, the project has been stalled for the past six months, but in three months; time I will pay another unscheduled visit and if the situation is still the same, I will take a final decision on the project.
“I would like to see by next visit some physical infrastructure otherwise we will review the project by awarding it to another contractor,” Suleiman said.
Responding, Mr. Xtao Kunlei, CGGC Project Manager, blamed the lapses on bad roads stressing that his company was finding it difficult to covey its equipment to the site.
He also blamed the lapses on the additional detailed design drawings that came up later, stressing that they would necessitate some adjustments during construction of the port and some parts of the main layout plan.
Kunlei assured the minister that in spite of the difficult terrain and bad road, the job would be completed on schedule and according to specification.
“By our plan from now till the next eight months, the administrative building, water house, generator house, security office among others would be completed,” he assured the governor.
The project site is located in Baro town of Niger State, 240 kilometres from Abuja.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.