Business
FERMA Pledges Aggressive Road Rehabilitation In S’West
The Federal Roads Maintenance Agency (FERMA) has pledged that it would rehabilitate major highways in the South-West geopolitical zone this year.
FERMA’s Executive Director (Finance and Accounts), Mr Taiwo Ladipo, made the promise when he led a monitoring team from Abuja to inspect ongoing road rehabilitation projects in Lagos.
He stressed that the agency was poised to embark on aggressive roads’ rehabilitation, adding that it had already started the rehabilitation of the Lagos-Abeokuta Expressway.
“We were in Ilaro yesterday and we later went to Shagamu and Ikorodu to inspect ongoing road projects. Today, we have inspected the ones in Lagos.
“We are rehabilitating the Lagos-Abeokuta Expressway and we would extend the project to other areas.
“Before the peak of the rainy season, we would have repaired all bad locations on this road; we would have also repaired other roads in Lagos and in the entire South West,” he said.
Also speaking, FERMA’s Zonal Coordinator (South-West II), Mr Oladipo Fagbamila, said that the agency was working “on the fast lane” so as to avoid road repairs during the peak of the rainy season.
He said that FERMA started with the rehabilitation of all access and exit routes to the Lagos-Abeokuta Expressway, so as to make the overall road rehabilitation project more meaningful.
Besides, Fagbamila said that the agency’s asphalt plant in Lagos, which was under construction, would be ready before the end of this month.
He stressed that the plant would boost FERMA’s roads’ rehabilitation programme.
During the inspection of works on the Iyana-Ipaja exit route, some residents commended the Federal Government for the road project.
They, however, urged FERMA to reconstruct drainage channels in the area to curb the perennial menace of erosion and flood.
Chief Rotimi Oreloluwa told newsmen that they were happy with the rehabilitation of the neighbourhood’s access and exit routes, which had been neglected for long.
He urged FERMA to sustain roads’ rehabilitation in the area, while constructing more drainage channels to tackle the problem erosion.
FERMA team also inspected the ongoing construction of retaining walls and drainage channels in the area, as well as the parapet wall paintings and asphalt overlay on the Third Mainland Bridge.
Business
Agency Gives Insight Into Its Inspection, Monitoring Operations
Business
BVN Enrolments Rise 6% To 67.8m In 2025 — NIBSS
The Nigeria Inter-Bank Settlement System (NIBSS) has said that Bank Verification Number (BVN) enrolments rose by 6.8 per cent year-on-year to 67.8 million as at December 2025, up from 63.5 million recorded in the corresponding period of 2024.
In a statement published on its website, NIBSS attributed the growth to stronger policy enforcement by the Central Bank of Nigeria (CBN) and the expansion of diaspora enrolment initiatives.
NIBSS noted that the expansion reinforces the BVN system’s central role in Nigeria’s financial inclusion drive and digital identity framework.
Another major driver, the statement said, was the rollout of the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to obtain a BVN remotely without physical presence in the country.
A five-year analysis by NIBSS showed consistent growth in BVN enrolments, rising from 51.9 million in 2021 to 56.0 million in 2022, 60.1 million in 2023, 63.5 million in 2024 and 67.8 million by December 2025. The steady increase reflects stronger compliance with biometric identity requirements and improved coverage of the national banking identity system.
However, NIBSS noted that BVN enrolments still lag the total number of active bank accounts, which exceeded 320 million as of March 2025.
The gap, it explained, is largely due to multiple bank accounts linked to single BVNs, as well as customers yet to complete enrolment, despite the progress recorded.
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