Business
Traffic Congestion Returns To PH
The usual road traffic congestions experienced on major roads of Port Harcourt are gradually returning as residents make their way back to the city after the yuletide holidays.
The Tide reports that for the past 10 days, the major roads of Port Harcourt have enjoyed free flow of traffic occasioned by the mass exodus of people who travelled for the festive season to their respective destinations.
Our investigation revealed that motor parks of Nkpolu Oroworukwo (Mile 3 Park), Abali Park, Bayelsa, Uyo, Bori, Ahoada, Asarama loading points, among others, were empty as more passengers were coming in than travelling out.
Also at Rivers Transport Company (RTC) park, Agofure Transport Motor park and other motor parks belonging to Cross Country Transport Company, Bob Izua Motors, Peace Mass Transit Company etc, it was observed that the influx of passengers at the arrival units outnumbered the departure units of the respective companies.
Our correspondent also reports that taxi drivers make brick businesses as they station at the respective points to pick passengers on arrival on drops.
Speaking to The Tide, Mrs Amina Yusuf, who arrived from Lagos said that the taxi driver charged her as much as N1,500 per drop from Water Lines to Victoria Street in Port Harcourt township, an offer she considered too exorbitant and exploitative.
According to a driver, Chidi Uzo, “this is our own time to make small money from passengers who had spent sparingly on their welfare at their respective homes, while we keep the city alive for them to come back and meet”.
The exercise, he said, would last for few days and the city would be flooded again with human activities.
“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.
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.