Business
Local Debts: FG Pays Construction Firms N150bn
The Federation of Construction Industry ( FOCI ), says the Federal Government has cleared more than half of the outstanding debts owed to many of its members.
Chairman of FOCI, Mr Nasiru Dantata, who made this known in an interview with newsmen in Abuja said that the Federal Government had paid more than half of the money owed its members.
Speaking on the sidelines of the 62nd Annual General Meeting of the Federation, Dantata said that the Federal Government did not just stop at payment for past contracts but was also awarding new contracts.
According to him, FOCI had moved on from the bad situation it found itself.
“Actually, for now, the situation is different, most of our members have gotten a substantial amount of their outstanding debts paid and also many of our members are being patronised by the current administration on new jobs.
“I do not have the accurate figure because not all construction companies are members of FOCI, but from the over N300 billion we presented to this administration, I believe more than half have been paid.
“Our members are now busy working on many projects.
“Some of the jobs are quite big, like the 375km Abuja-Kano road. So we are hopeful this will continue.
“Government at federal and state levels now patronise us. My company is indigenous and I have enjoyed good patronage from Nigeria,” he said.
In 2015, FOCI disclosed that the government owed its members over N500 billion, claiming that one company alone was owed N70 billion.
Dantata stressed that there was need for some indigenous companies to up their game, adding that some of the companies perceived as foreign were actually indigenous.
Speaking on the issue of withholding tax refund, the FOCI president said that there was need for the government to review the procedure so as to make it easier.
He disclosed that FOCI was already in talks with the Chairman of the Federal Inland Revenue Service (FIRS) to see how the tax can be reduced to 2,5 per cent to avoid the problems of having to refund.
“What we are proposing to the government is that since we are working in the area of development, the best thing is to reduce the withholding tax on our activities.
“This was done briefly some years ago and it was reversed but we are discussing with the Chairman of FIRS; he has assured us that what happened was that there was abuse by other sectors.
“The amount involved is in billions,” he said.
He expressed confidence that the present administration will clear all arrears owed its members.
Business
TTP Trains Customs Agents, Freight Forwarders On Eto App
In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.
Business
NECA Holds MSME Fair To Drive Growth
Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
·
· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
·
· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
·
· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.
Business
Over 2m Passengers Board Blue Rail Train – Commissioner
The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.
Nkpemenyie Mcdominic, Lagos
-
Politics5 days ago
No Southerner Can Successfully Challenge Tinubu In 2027 – Momodu
-
News4 days ago
May Day: Labour Seeks Inclusiveness In Policy-making
-
Niger Delta5 days ago
Falling Trees Destroy Properties In Calabar
-
News5 days ago
Three Judges Suspended As NJC Voids Imo Acting CJ’s Appointment
-
Business5 days ago
FG Introduces Zinc Rice Varieties For Food Safety
-
News5 days ago
Okpebholo Approves New Minimum Wage Of N75,000 For Edo Workers
-
Politics5 days ago
NASS To Prioritise Workers’ Welfare, Akpabio Assures Labour On May Day
-
Niger Delta4 days ago
Rivers Begins, Supplemental Polio Vaccination, Morrow