Business
Commuters Urge Work On Lagos-Ibadan Road
Motorists plying the Lagos-Ibadan Expressway on Saturday urged the Federal Government to begin reconstruction to reduce incessant carnage and gridlock on the highway.
The Tide recalls that the Minister for Works, Mr Mike Onolememen, had said last year that reconstruction of the highway would begin in 2013.
An Ibadan-based business woman, Mrs Bunmi Akerele, told newsmen that rehabilitation of the highway was not what was required, but its reconstruction.
“About two years ago, the Ibadan end of the highway was rehabilitated, but after some time it was again in a state of disrepair.
“The Federal Government late last year awarded a contract for its rehabilitation, but I did not see anything new in it because during the rainy season, the road will go bad again,” she said.
A resident of Ibafo in Ogun Mr Franklin Nwawulu, told reporters that the emergency repair work done on the highway did not extend to the Berger Bridge area.
“The job done is below expectation because there are still potholes on the road, especially between the Berger Bridge and the Arepo area.
“As you drive towards the long bridge, all the way to Fagbems Filling Station, the road has several potholes.
“That is the problem with continuous patching of a road that takes heavy duty trucks that are beyond the capacity it was built to take.
“The Federal Government should begin the reconstruction they promised Nigerians,” he said.
A commercial bus driver, Mr Jude Nwaogbeni, who plies the LagosSagamu route, however, commended government for the emergency repair work.
“Since the Federal Government repaired the road during December for the Christmas, traffic congestion has reduced considerably, unlike before,” he said.
A resident of Arepo, Mr Yemi Ogundimu, implored the Federal Government to rehabilitate the span of the road between Arepo and the Berger Bridge in Ogun, before the reconstruction of the highway.
Responding, Mr Joshua Popoola, a Deputy Director in the Federal Ministry of Works, told The Tide source that the Minister of Works was concerned about the state of the highway.
“It is something that disturbs his mind and he wants that contract awarded as soon as possible,” he said.
Popoola said that procedure for the award of the contract was ongoing and that it would soon be awarded.
He said that the project was at the planning stage in the ministry and was going through due process.
The director said that the planning included the presentation of designs and tenders for the project by various construction firms.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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