Business
Motorists Task FG On Benin-Auchi-Okene Road
Motorists plying the Benin-Auchi-Okene Highway have urged the Federal Government to declare a state of emergency on the busy highway.
Some of the motorists told newsmen on Saturday that the call became necessary owing to the situation of the road.
The motorists, who decried the loss of man-hour and human lives on the road linking the Southern and Northern parts of the country, said the highway had totally collapsed due to years of neglect.
Our source observed that motorists have completely abandoned the road and have resorted to taking longer alternative routes to connect from Edo Central to the Northern part of the country.
The motorists stressed that if nothing was done to urgently address the situation, the alternative routes which are also not in good condition may soon become unmotorable.
A motorist, Maxwel Idigie, who expressed concern, said drivers had no option other than to bear untold hardship to get to their destinations via the highway.
“We have never a time experienced a situation like this on the route.
“We complained when it was not even as bad as it is now, but as we speak, nobody uses that route again.
“For some time now, we have been taking longer routes to cut off those roads that have totally collapsed.
“Those going to Ekpoma, Auchi or North of the county go through Agbor Road to connect to Ugoneki and Ujogba and then to the road at Irrua in Esan Central Local Government Area of Edo,” he said.
According to him, same goes for motorists going to Sabongidda Ora, Afuze and Akoko-Edo that now links the communities through Ifon in Ondo State.
“It will interest you to know also that those going to Abuja also connect Okene through Igarra and Ososo in Akoko-Edo.
“This long and toutorous journey has not only greatly affected our income but also other associated inconveniences,” he said.
Also, Abel Osageduwa, a motorist, said the alternative routes were wearing off owing to its use by articulated vehicles that were not designed for the road.
Osageduwa, therefore, appealed to government to declare a state of emergency on the Benin-Auchi-Okene highway.
He said that the declaration would pave way for a solution to the problem.
“Last Friday, we spent over three hours on a particular spot near Ujogba because articulated vehicles that have rendered the road bad, got stuck on the bad spot on that alternative route.
“Friday was another trying time for us on that route; this would not have been if the major road was in order.
“The Ujogba road which was constructed by Oshiomhole’s government was not meant for heavy duty vehicles,” he said.
Another motorist, Andrew Momodu, appealed to the government to fix the highway, saying that the situation was compelling motorists to increase transport fare.
“We do not spend more now only on fuel, but also on the maintenance of our vehicles and it is a pity that commuters are the ones bearing the burden,” he said.
A commuter who simply identified herself as Nana, said that the cost of transportation to Auchi was hiked to N1500 from N1000 on Friday owing to traffic congestion that was experienced on the alternative route.
Our correspondent reports that Governor Godwin Obaseki of Edo and members of the state legislature had recently under taken separate assessment tours of the Benin-Auchi-Okene highway.
They all condemned the state of the road and called on the Federal Government to urgently fix it.
It would be recalled also that Babatunde Fashola, the Minister of Works, Power and Housing, had said that remedial work on the highway would begin as soon as the rains subsided.
Business
Association Seeks Intervention to Save Domestic Airlines
Business
CBN Reforms Impact Consumers As Dollar Card Spending Limits Rise
“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.
Business
WEC: FG Inaugurates Governing Board … As Nigeria Rejoins Council
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.
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