Business
Transport Firm Spends N6.2m On Speed Limiters
The Bauchi State Transport Company, operators of the Yankari Mass Transport has said that it has spent N6.2 million in purchasing and installing speed limiters in its vehicles.
The Operations Manager of the company, Alhaji Mohammed Jibrin, said this in an interview newsmen in Bauchi, yesterday.
Jibrin said the gadgets were purchased at the cost of N40,000 per unit.
“We purchased the speed limiters from the list of 60 vendors recommended by the Federal Road Safety Commission (FRSC).
“We have 65 serviceable vehicles and so far, we have installed about 40 units; the remaining 25 gadgets are ready and any moment from now, the vendors will start installing them in the remaining vehicles.
“The gadgets are not costly, considering the fact that human lives are priceless. It is cost effective if it can save the lives of 14 passengers in a bus.
“To us, the gadgets are very vital, even though, some drivers will not like to be restricted to a limit of 100km per hour but some of the passengers we interviewed said they were very happy about the development,’’ Jibrin said.
The manager said that the introduction of the gadgets was a good omen for the company because the drivers could not exceed 100km per hour.
He said the limiters would also save fuel; wear and tear of the vehicles, making them last longer.
The Tide garthered that the House of Representatives’ resolution of June 23, 2016, approved the introduction of speed limiters in accordance with the extant provisions of the FRSC Establishment Act (2007).
Consequently, the FRSC embarked on extensive consultation with relevant stakeholders and elaborate Public Education programmes.
The FRSC on Oct. 1, 2016, commenced a subtle enforcement of the speed limiting device in all commercial vehicles across the country.
That is those who did not install the device were not punished but rather educated on its benefits.
The commission said the decision was predicated on the analysis of data generated from Road Traffic Crashes (RTC) around the country.
He said the analysis overtime revealed that speed and the involvement of commercial vehicles consistently accounted for about 60 per cent of RTC in Nigeria.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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