Business
Fashola Unveils Agenda For Roads, Power, Housing …Lists Lagos-Ibadan Expressway, Second Niger Bridge As Top Priority

Governor Rochas Okorocha of Imo State (left), welcoming the leader of Chinese Investors, Mr Xie Shaw, during the visit of the Chinese investors to discuss investment opportunities with the Imo State Government in Owerri on Wednesday.
The Minister of Power,
Works and Housing, Babatunde Fashola (SAN), has officially unveiled his short term plans to address housing deficits, provide good roads and urgently increase power generation in the country with extra 2, 000 megawatts.
Fashola said, during his maiden press briefing in Abuja that the Lagos-Ibadan expressway which has been under construction and the second Niger Bridge are of great importance to the current administration, thus would get urgent attention.
He said year 2002 was the last time the sum of N200 billion was budgeted for road constructions in the country.
The Minister further disclosed that work would soon commence on all roads that link the 36 States of the federation, adding that major roads which had been suspended due to paucity of funds and are vital to boost social and economic activities in the country would be quickly revisited.
It was Fashola’s maiden briefing since his assumption of office.
He spoke on plans to partner with the private sector and fully privatise the power sector in order for the country to witness genuine development like the telecommunication.
Part of his plans is also to immediately restore the jobs of construction workers who were laid off by local and international construction companies in the country.
His words: “The records that have been made available from previous budgets show that the last time Nigeria budgeted over N200 Billion in a year’s budget for roads was in 2002. It seems that as our income from oil prices increased over the last decade, our spending on roads decreased.
“As far as status reports go, the federal government budgeted N18.132Billion in 2015 and the Ministry of Works got N13Billion for all roads and highways in 2015, although it has contracts for 206 roads, covering over 6,000km with contract price of over N2 Trillion.”
However, Fashola stated that government’s ability to achieve connectivity of Inter-state roads would largely depend on capital spending in the 2016 budget.
He said it became imperative to pay contractors and get them back to work as soon as possible.
“Our short term strategy will be to start with roads that have made some progress and can be quickly completed to facilitate connectivity. We will prioritize within this strategy by choosing first the roads that connect states together and from that grouping start with those that bear the heaviest traffic.
“As at May 2015, many contractors have stopped work because of payment, and many fathers and wives employed by them have been laid off as a result.
“Some of the numbers from only four companies that were sampled, suggest that at least 5,150 workers have been laid as at March 11, 2015; and if we realise that there are at least 200 contracts pending, on the basis of 1(one) company per contract,” he said.
Analysing the unfortunate situation, Fashola explained that, “If each contractor has only 100 employees at each of the 200 contract sites, it means at least that 20,000 people who lost their jobs can return to work if the right budget is put in place and funded for contractors to get paid.
“The possibility to return those who have just lost their jobs back to work is the kind of change that we expect to see by this short term strategy.”
“In order to make the roads safer, we intend to re-claim the full width and set back of all Federal roads, representing 16% and about 36,000km of Nigeria’s road network by immediately now asking all those who are infringing on our highways, whether by parking, trading, or erection of any inappropriate structure to immediately remove, relocate or dismantle such things voluntarily. This will be the biggest contribution that citizens can offer our country as proof that we all want things to change for the better,” Fashola added.
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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