News
Nigeria Is Dying Slowly, World Bank Alerts

The World Bank, yesterday, dropped a bombshell that Nigeria was dying slowly and tragically living on borrowed time due to the perennial neglect of the agricultural sector and relying heavily on crude oil that belongs to yesterday.
This is as the Vice President, Prof Yemi Osinbajo, assured that the Buhari administration would ensure an export based economy, especially as it recognises the importance of the agriculture sector to food security, job creation and poverty reduction.
He said the sector remains one of the priority areas of the government that has attracted various intervention programmes under the Agricultural Promotion Policy.
The Senior Agriculture Economist, World Bank, Dr Adetunji Oredipe, who made the disclosure in Abuja while delivering a keynote address at the agriculture summit Africa sponsored by Sterling Bank Plc, said economic diversification into agricultural should be in practice not theory as the economy has become increasingly dependent which has proven to be both a “disaster and calamity.”
According to him, if Nigeria had held to its market share in palm oil, cocoa, groundnut and cotton, the country would be earning at least $10billion annually from these three commodities.
The event was attended by the Vice President, Prof Yemi Osinbajo, who was represented by the Minister of State for Agriculture and Rural Development, Mustapha Shehuri; Minister of Women Affairs, Mrs Paulen Talen; Governor of Kebbi State, Atiku Bagudu; Chairman of Sterling Bank Plc, Asue Ighodalo; and the Managing Director of Sterling Bank Plc, Abubakar Suleiman.
Analyzing a gloomy picture of the country’s agricultural sector, the World Bank Agric Economist said that Nigeria is now one of the largest food importers in the world.
He said: “In 2016 alone, Nigeria spent $965million on the importation of wheat, $39.7million to import rice and $100.2million on sugar importation.
He added that the decision to spend $655million on fish importation seems financially irresponsible given all the marine resources, rivers, lakes, and creeks in Nigeria.
He noted: “None of the above transactions (Importation of rice, fish, sugar) is fiscally, economically, or politically sustainable. Nigeria is tragically is living on borrowed time, a typical case of robbing Paul to pay Peter.
“For instance, each time we spend money to import rice, Nigerian local rice farmers are negatively affected in terms of morale, sales, and realizable income.
He lamented that despite the huge agricultural potential, Nigeria which used to be the major player in agriculture in the world has lost its place in the global community.
He said, “In the 1960s we had glory. That glory was visible and significant for the global community to recognize and applaud. Nigeria accounted for 42 per cent of the world’s exports of shelled groundnuts. Our total export volume was 502, 000 MT.
“This declined to 356 MT by 2016. Nigeria lost her leadership position and was overtaken by USA, China, and Argentina. Nigeria was also the largest exporter of palm oil in the world and accounted for 27 per cent of the global export volume for palm oil.
“Total export volume for palm oil by Nigeria was 167,000 MT in 1961. This declined to 8,000 MT by 2016as the global export volume rose from 629,000 MT in 1961 to over 42.1 million MT in 2016.
“Malaysia and Indonesia took over using the oil palm seedlings obtained from Nigeria. In 2018, Malaysia earns $8.7billion, 28.6 per cent of total palm oil exports from export of palm oil alone.
“Indonesia alone recorded US$16.5billion, 54.5 per cent of total palm oil exports. Unfortunately, Nigeria is not listed among the first 15 as at this moment.”
He said the huge taste of Nigerians for imported food items had also contributed to high levels of unemployment for youths.
“Food producing factories in Western world, Far East Asia and other countries employ millions of young people to produce and export food. This is a source of livelihood and it helps the workers to live well and go to school.
News
FG Awards Lagos-Abuja, Lagos-PH Super, Coastal Highway Contracts To AEC, Hitech
The Federal Government has unveiled plans to embark on a 460km superhighway project that would cut travel hours from Lagos to Abuja from about 14 hours to four-and-a-half hours and the Lagos-Port Harcourt Coastal Highway.
While the Abuja-Lagos Superhighway project was awarded to Advanced Engineering Consultants (AEC), the Lagos-Port Harcourt Coastal Highway was given to Hitech Construction Company Limited.
According to the Minister of Works, Engr. Dave Umahi, who addressed a press conference at Eko Signature Suites in Lagos on Saturday, September 23, the road would be built with concrete, not asphalt, and the construction through a Public Private Partnership (PPP) would be on a Build Operate and Transfer (BoT) arrangement with a consortium led by Advanced Engineering Consultants (AEC) under the chairmanship of Chief Kenny Martins.
Umahi announced that the highway running from Abuja through eight states to kiss the Fourth Mainland Bridge in Lagos will be completed in four years.
He said, “The President has approved that I should FastTrack this project.”
The minister said that at completion, an average vehicle traveling at 100km/hr could get to Lagos from Abuja in four and half hours.
“This is a journey that is more than 14 hours presently, so people found it hard to believe when this idea was introduced, but that is the Renewed Hope agenda of our divine President Bola Ahmed Tinubu. That is what God has brought him to do. He is the last hope for Nigeria, no matter what people say… Things that couldn’t have been done are being done under this administration… Nobody can fix Nigeria like Tinubu.
“This project is going to be two lanes, but the two lanes will be two carriageways – 14 meters; the only carriageway that is equivalent to this is the Third Mainland Bridge where each carriageway is 14 meters. It’s going to be built on 275-millimeter thick concrete… The lifespan will be 100 years. Bridges will be built and there will be tolling points.”
Umahi, who was accompanied by top officials from the Federal Ministry of Works and contractors, said, “We are here to FastTrack the development of the Greenfield of the PPP development under a new program of the Federal Ministry of Works which is the HDMI Programme (Highway Development and Management Initiative).
“Under this programme, there are two kinds, we have the Greenfield, and we have the Brown Field. The Greenfield is the one we are doing with the Advanced Engineering Company. They identified the project; they came up to discuss it with us; we threw the idea to the market; we invited investors; they made proposals… They won the bid to further engage us.”
The superhighway will pass through the FCT, Niger, Kogi, Kwara, Ekiti, Oyo, Ogun, and Lagos – Abuja, North-Central, and South-West.
Umahi said that the government would not put money into the project but would give the bid winners every support.
He commended the promoters of AEC, who he described as brilliant people.
“I’m very satisfied with their concept and what they have put in place. The next stage is to bring their business proposal so that we can negotiate on what the cost of the project will be. And then, they’ll go to the Ministry of Finance to negotiate the cost.
“We are building on concrete, so we can predict the cost; with asphalt, you cannot predict the cost. The cost of asphalt roads changes every month. Today, the dollar is almost a thousand naira. The oil price is almost $100 per barrel.
“Concrete roads are more durable and cheaper than asphalt. I’ve directed that the remaining jobs on all the ongoing projects that have not advanced up to 80percent must change to concrete.”
The minister also spoke on failed roads across the country putting the blame on civil servants.
He warned that any controller that allowed trucks to fall on the road under his supervision would go on indefinite suspension, and the director in that region would be recalled.
He said, “Hold civil servants responsible for failure of road projects. Civil servants in other parts of the country apart from Lagos stay in the office and issue certificates to contractors.
“I’ve inspected roads in South-West and South-East. I spent 14 hours traveling from Abuja to Benin. I had pains, and I was so happy having the pains because Nigerians are going through the pains on a daily basis.”
Umahi also blamed the failed road projects across the country on lack of supervision; “contractors took money and didn’t do the work. They constructed failed roads. Roads that could not stand three years. They could not even maintain the roads. Trucks are falling. Travelers pass through communities. People are being kidnapped. I went to Warri. I went to Bayelsa, the story is the same.
“In every contract, there’s provision to maintain the roads. If a contractor is greedy to take a project of 150km that should go to three contractors, he should be prepared to maintain it. I’ve created a platform where I have all the contractors and the directors inside. Everybody is back to work. It’s the directive of Mr. President. He said that he must not see vehicles falling on highways again. I will get whoever flouts the directive out of the way.
“I have just informed Mr President that in 30 days if no urgent attention is given to the road, nobody will pass from Bayelsa or Port Harcourt to Warri. And that is very dangerous. So, he directed that I should go and inspect the roads and bring comprehensive information on what should be done immediately.
“He is a man who listens. He’s in a hurry to solve people’s problems in this country. He’s very much in a hurry to change the story. From Bayelsa, I went to Port Harcourt, to Akwa Ibom, to Cross River, and from there I flew to Enugu yesterday evening by 6 o’clock to discuss this road matter with the governor of Enugu State.
“I’m also to reinspect the Third Mainland Bridge and start work on it immediately, and then discuss with the Ogun State governor on the HDMI.”
Fielding questions from reporters on challenges that PPP projects have been facing in Nigeria, Umahi said that things would be different this time.
“We will tie ourselves very well with irrevocable agreement. On the issue of Right of Way, they own the entire land until they recover the money invested. If the Federal Government reneges, they have to pluck their investment directly from the Federation Account.
“If the investment must work, it must not be subjected to political dynamism. It has to be a business venture. That’s why I like President Bola Tinubu. He inherited 18,000 km of roads, and 2,640 projects; there are still constituency projects that are over another 2,000 in number. So, you have over 64,664 Federal Government projects that are ongoing.
“He has not stopped any contractor. He wants to complete all those things. Certain leaders will say we want to do our own, that is gross irresponsibility.
“They (bid winners) are going to give me a letter of comfort; if they back out, they must pay us $10million. My coming here is at a cost, and nobody should waste our time.”
In his response, Chief Kenny Martins assured that the road would be the first of its kind with communication cyber cable, rail lines, and coastal areas.
“The road will be ICT complaint so that electronic vehicles can operate on the road; there will be all kinds of security and there will be solar lights, the whole 460kilometres of the road,” he said.
The minister also mentioned that the Federal Government is working to actualise another project, the Lagos-Port Harcourt Coastal Highway.
He said that Hitech Construction would fund the project under the PPP model.
Hitech is a division of the Chagoury Group, a business conglomerate in Lagos that oversaw the construction of the Lekki-Epe expressway and the Ajah flyover.
Umahi added that upon completion, the highway would have multiple spurs connecting major towns and cities, including a spur connecting Ogoja-Ikom-Cameroon Road.
“There will be a spur that will connect the proposed fourth mainland bridge in Lagos,” he said.
“It is also connected to the deep seaport road being constructed by Hitech, under the concrete technology and it is also connected at Lagos-Badagry to the proposed Lagos-Abidjan superhighway.”
He said there would also be multiple connections with roads leading to the northern parts of the country.
“There is a proposal for connection to Sokoto. I think about four to five connections to northern Nigeria,” he said.
Umahi described the project as a brainchild of President Tinubu, who asked him to also “fast track this project because it is going to be a catalyst towards the economic development of this country.
“Let me announce that it is under PPP. The Hitech Group is going to look for the money. They have already found the money and that is the good news because we don’t waste our time talking and holding meetings and wasting resources,” he said.
“We are engaging seriously because we have seen the financial capacity and capability of Hitech and this project is going to be delivered in phases.
“Any section that we complete, we will toll it, and then business and transportation will start.
“The right of way of this project is about a 100-meter corridor. There is provision for a rail line in the middle of the road which is about 20 meters.
“The road has four carriageways. Each of the service lanes is 10 meters wide. The main carriageway is 14 meters.”
News
FG Awards Lagos-Abuja, Lagos-PH Super, Coastal Highway Contracts To AEC, Hitech

The Federal Government has unveiled plans to embark on a 460km superhighway project that would cut travel hours from Lagos to Abuja from about 14 hours to four-and-a-half hours and the Lagos-Port Harcourt Coastal Highway.
While the Abuja-Lagos Superhighway project was awarded to Advanced Engineering Consultants (AEC), the Lagos-Port Harcourt Coastal Highway was given to Hitech Construction Company Limited.
According to the Minister of Works, Engr. Dave Umahi, who addressed a press conference at Eko Signature Suites in Lagos on Saturday, September 23, the road would be built with concrete, not asphalt, and the construction through a Public Private Partnership (PPP) would be on a Build Operate and Transfer (BoT) arrangement with a consortium led by Advanced Engineering Consultants (AEC) under the chairmanship of Chief Kenny Martins.
Umahi announced that the highway running from Abuja through eight states to kiss the Fourth Mainland Bridge in Lagos will be completed in four years.
He said, “The President has approved that I should FastTrack this project.”
The minister said that at completion, an average vehicle traveling at 100km/hr could get to Lagos from Abuja in four and half hours.
“This is a journey that is more than 14 hours presently, so people found it hard to believe when this idea was introduced, but that is the Renewed Hope agenda of our divine President Bola Ahmed Tinubu. That is what God has brought him to do. He is the last hope for Nigeria, no matter what people say… Things that couldn’t have been done are being done under this administration… Nobody can fix Nigeria like Tinubu.
“This project is going to be two lanes, but the two lanes will be two carriageways – 14 meters; the only carriageway that is equivalent to this is the Third Mainland Bridge where each carriageway is 14 meters. It’s going to be built on 275-millimeter thick concrete… The lifespan will be 100 years. Bridges will be built and there will be tolling points.”
Umahi, who was accompanied by top officials from the Federal Ministry of Works and contractors, said, “We are here to FastTrack the development of the Greenfield of the PPP development under a new program of the Federal Ministry of Works which is the HDMI Programme (Highway Development and Management Initiative).
“Under this programme, there are two kinds, we have the Greenfield, and we have the Brown Field. The Greenfield is the one we are doing with the Advanced Engineering Company. They identified the project; they came up to discuss it with us; we threw the idea to the market; we invited investors; they made proposals… They won the bid to further engage us.”
The superhighway will pass through the FCT, Niger, Kogi, Kwara, Ekiti, Oyo, Ogun, and Lagos – Abuja, North-Central, and South-West.
Umahi said that the government would not put money into the project but would give the bid winners every support.
He commended the promoters of AEC, who he described as brilliant people.
“I’m very satisfied with their concept and what they have put in place. The next stage is to bring their business proposal so that we can negotiate on what the cost of the project will be. And then, they’ll go to the Ministry of Finance to negotiate the cost.
“We are building on concrete, so we can predict the cost; with asphalt, you cannot predict the cost. The cost of asphalt roads changes every month. Today, the dollar is almost a thousand naira. The oil price is almost $100 per barrel.
“Concrete roads are more durable and cheaper than asphalt. I’ve directed that the remaining jobs on all the ongoing projects that have not advanced up to 80percent must change to concrete.”
The minister also spoke on failed roads across the country putting the blame on civil servants.
He warned that any controller that allowed trucks to fall on the road under his supervision would go on indefinite suspension, and the director in that region would be recalled.
He said, “Hold civil servants responsible for failure of road projects. Civil servants in other parts of the country apart from Lagos stay in the office and issue certificates to contractors.
“I’ve inspected roads in South-West and South-East. I spent 14 hours traveling from Abuja to Benin. I had pains, and I was so happy having the pains because Nigerians are going through the pains on a daily basis.”
Umahi also blamed the failed road projects across the country on lack of supervision; “contractors took money and didn’t do the work. They constructed failed roads. Roads that could not stand three years. They could not even maintain the roads. Trucks are falling. Travelers pass through communities. People are being kidnapped. I went to Warri. I went to Bayelsa, the story is the same.
“In every contract, there’s provision to maintain the roads. If a contractor is greedy to take a project of 150km that should go to three contractors, he should be prepared to maintain it. I’ve created a platform where I have all the contractors and the directors inside. Everybody is back to work. It’s the directive of Mr. President. He said that he must not see vehicles falling on highways again. I will get whoever flouts the directive out of the way.
“I have just informed Mr President that in 30 days if no urgent attention is given to the road, nobody will pass from Bayelsa or Port Harcourt to Warri. And that is very dangerous. So, he directed that I should go and inspect the roads and bring comprehensive information on what should be done immediately.
“He is a man who listens. He’s in a hurry to solve people’s problems in this country. He’s very much in a hurry to change the story. From Bayelsa, I went to Port Harcourt, to Akwa Ibom, to Cross River, and from there I flew to Enugu yesterday evening by 6 o’clock to discuss this road matter with the governor of Enugu State.
“I’m also to reinspect the Third Mainland Bridge and start work on it immediately, and then discuss with the Ogun State governor on the HDMI.”
Fielding questions from reporters on challenges that PPP projects have been facing in Nigeria, Umahi said that things would be different this time.
“We will tie ourselves very well with irrevocable agreement. On the issue of Right of Way, they own the entire land until they recover the money invested. If the Federal Government reneges, they have to pluck their investment directly from the Federation Account.
“If the investment must work, it must not be subjected to political dynamism. It has to be a business venture. That’s why I like President Bola Tinubu. He inherited 18,000 km of roads, and 2,640 projects; there are still constituency projects that are over another 2,000 in number. So, you have over 64,664 Federal Government projects that are ongoing.
“He has not stopped any contractor. He wants to complete all those things. Certain leaders will say we want to do our own, that is gross irresponsibility.
“They (bid winners) are going to give me a letter of comfort; if they back out, they must pay us $10million. My coming here is at a cost, and nobody should waste our time.”
In his response, Chief Kenny Martins assured that the road would be the first of its kind with communication cyber cable, rail lines, and coastal areas.
“The road will be ICT complaint so that electronic vehicles can operate on the road; there will be all kinds of security and there will be solar lights, the whole 460kilometres of the road,” he said.
The minister also mentioned that the Federal Government is working to actualise another project, the Lagos-Port Harcourt Coastal Highway.
He said that Hitech Construction would fund the project under the PPP model.
Hitech is a division of the Chagoury Group, a business conglomerate in Lagos that oversaw the construction of the Lekki-Epe expressway and the Ajah flyover.
Umahi added that upon completion, the highway would have multiple spurs connecting major towns and cities, including a spur connecting Ogoja-Ikom-Cameroon Road.
“There will be a spur that will connect the proposed fourth mainland bridge in Lagos,” he said.
“It is also connected to the deep seaport road being constructed by Hitech, under the concrete technology and it is also connected at Lagos-Badagry to the proposed Lagos-Abidjan superhighway.”
He said there would also be multiple connections with roads leading to the northern parts of the country.
“There is a proposal for connection to Sokoto. I think about four to five connections to northern Nigeria,” he said.
Umahi described the project as a brainchild of President Tinubu, who asked him to also “fast track this project because it is going to be a catalyst towards the economic development of this country.
“Let me announce that it is under PPP. The Hitech Group is going to look for the money. They have already found the money and that is the good news because we don’t waste our time talking and holding meetings and wasting resources,” he said.
“We are engaging seriously because we have seen the financial capacity and capability of Hitech and this project is going to be delivered in phases.
“Any section that we complete, we will toll it, and then business and transportation will start.
“The right of way of this project is about a 100-meter corridor. There is provision for a rail line in the middle of the road which is about 20 meters.
“The road has four carriageways. Each of the service lanes is 10 meters wide. The main carriageway is 14 meters.”
News
Reps Resume Plenary On Tuesday

The House of Representatives has said it would resume from its annual recess on Tuesday to continue the first legislative year of the 10th Assembly.
The Clerk of the House, Dr Yahaha Danzaria, said this in a statement in Abuja on Saturday.
The 10th Assembly proceeded on its annual recess on July 27.
This followed a plenary session during which Speaker, Hon Tajudeen Abbas, announced the leadership of the standing committees of the house.
Commenting on the resumption, the Spokesperson of the House and House Committee on Media and Public Affairs, Hon Akin Rotimi, said the 10th Assembly had been prolific.
He said since its inauguration, the house had recorded 470 bills, with all passing first reading, while four passed second reading.
He added that there had been 175 motions considered by the parliament.
He said in spite of the recess, it had continued to function, as various ad hoc committees continued to carry out their crucial mandates.
He said this had generated significant positive public interest.
Rotimi said some of the key early developments expected on resumption was the conclusion of the work of all ad-hoc committees and the submission of their reports.
He said this was for the consideration of the House in line with the directive of the speaker.
He said the house would get the final draft of its Legislative Agenda developed by the ad hoc committee, led by the Majority Leader, Hon Julius Inhonvbere.
He said it would be considered and adopted by the house, adding that the draft agenda was developed following extensive consultations with critical stakeholders.
He also said that the membership of the standing committees would be announced and fully constituted.
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