Business

FG Owes Contractors Over N11trn – Minister

Published

4 years ago

November 4, 2022

The Federal Government says it is owing contractors about N11.16 trilliion for the construction of various highways across the country and certificates of completion.
Minister of Works and Housing, Babatunde Fashola, made this disclosure while defending the proposed budget of his ministry in the 2023 Appropriation Bill.
He said the Ministry has currently awarded 1,642 highway contracts for 1,632 projects at a total sum of N10.395 trillion.
While appearing before the House of Representatives Committee on Works in Abuja on Tuesday, Fashola said, “The main challenge to highways development in the country remains inadequate funding. As at date, the government is committed to highway contractors to the tune of about N10.4 trillion, while a total of about N765 billion are unpaid certificates for executed works.
“Secondly, the shortage of younger engineers/technical officers in the ministry as a result of embargo on employment is affecting proficient project supervision at the sites.
“It is expected that more sources of funding of highway projects be explored as well as lifting the embargo on employment of needed engineers/technical officers at middle level to enhance supervision of projects”.
Making his presentation, the Minister noted that the regime had built roads with a cumulative distance of about 8,000 kilometres out of the about 13,000 kilometres under (re)construction.
Accordiy to him, the Ministry had documented creation of 339,955 jobs across road projects, adding that, “these are the human activities behind the kilometres (of road constructed)”.
Some of the jobs, he continued, were created through lane marking covering 1,663,954 linear meters, “which was not visible on our roads before but you can now see them beginning to emerge”.
Noting that 250,583 road signs were missing on the roads as at 2015, Fasholas said the construction companies had used 1,002,960,851 litres of diesel for various projects.
“Construction companies don’t buy diesel, they buy from the market. All of these suppliers are small businesses who benefit from and are impacted by what we do”, he explained.
The Minister also explained that the use of such commodities as cement (1.6 million tonnes), reinforcements (512,00 tonnes), and bitumen (3,371,000 tonnes) are all activities that have impacted on people beyong the services being rendered by the ongoing job by the Ministry.
“It is to be noted that as at October, 2022, the ministry had a cumulative unpaid certificates in the sum of N765.017bn for ongoing highway and bridge projects.
“Apart from the pressure of resources to pay, there is the inadequacy of annual budget provisions where N100m or N200m was provided for roads costing N20bn or more.
“In spite of all odds, 20 major highway projects have so far been completed in 2022 and are ready for commissioning. The total cost of the completed projects is in the sum of N444.322,123,808.61 and they cover a total length of 379.677km.
“Additionally, there are 59 major highways/bridges priority projects that are at advanced level, to be completed within 2022-2023, with a total contract sum of N60,961,187,130.71”, the Minister said.
He continued that the Ministry had initiated an intensive bridge maintenance programme to ensure serviceability of the major assets, adding that bridges were critical structures that guaranteed connectivity across the federal road network.

Business

Pipeline Explosion In Abua Odua, LGA Chair Calls For Calm

Published

4 days ago

July 3, 2026

The Tide

Fresh explosions have hit oil and gas pipelines in Odau Community, in Abua/Odual Local Government Area of Rivers State, triggering a major security and environmental crisis that has forced residents to abandon their homes.

The first incident occurred along the Kolo Creek – Rumuekpe crude oil pipelines, operated by Renaissance Africa Energy Company Limited.

This was followed by a gas pipeline explosion on the Ogboinbiri – Obirikom Gas Pipeline, operated by Oando Plc, in the same week.

In a statement by the Abua/Odual Council Chairman, Hon. Owolobi Michael Ofori said the blasts, suspected to be the handiwork of militants, have unleashed persistent gas leakage in the area, raising fears of fire outbreaks and toxic exposure as residents of Odau have largely deserted the community due to the dangerous situation.

According to him, some residents of the area have been hospitalised after inhaling the leaking gas, adding that the impact has spread to neighbouring communities, including Obedum, Emirikpoko, and Anyu in Abua/Odual LGA, as well as Oruma and Ibelebiri in Bayelsa State.

Hon. Ofori expressed deep concern over the plight of the affected residents and urged the operating companies to act swiftly.

The Council expressed its deepest sympathy to all affected persons and communities and remained gravely concerned about the safety, health, and welfare of residents whose lives and livelihoods have been disrupted by these incidents.

“We call on Renaissance Africa Energy Company Limited and Oando Plc to immediately deploy all necessary technical and emergency response resources to contain the fires, halt the gas leakage, secure the affected pipeline corridors, and mitigate further environmental and public health risks.” the Council Chairman Said.

The chairman also appealed to the two oil firms to provide immediate humanitarian assistance and relief materials to the displaced residents while work continues to restore normalcy.

The Council Chairman said he is working closely with security agencies and emergency responders to monitor the situation and coordinate necessary interventions.

The Council Boss advised Residents of the Local Government Area to remain calm, cooperate with authorities, and adhere strictly to safety directives.

Ofori further called on the National Emergency Management Agency (NEMA), the National Oil Spill Detection and Response Agency (NOSDRA), the Rivers State Government, and other relevant bodies to intervene urgently to prevent loss of lives and environmental damage.

Hon. Ofori assured that the council remains committed to the protection and welfare of its people and will continue to engage all stakeholders to resolve the crisis.

Enoch Epelle

Business

Fidelity Bank Collaborates YEIDEP To Empower Nigerian Students

Published

4 days ago

July 3, 2026

The Tide

Fidelity Bank Plc has reaffirmed its commitment to youth empowerment, financial inclusion and entrepreneurship through a strategic partnership with the Youth Economic Intervention and De-radicalization Programme (YEIDEP), a Federal Government-backed initiative aimed at equipping young Nigerians with the skills, support and opportunities needed to build sustainable livelihoods.

Under the partnership, the bank will support the enrolment of students and young people into the YEIDEP programme, which is designed to tackle youth unemployment, promote enterprise development and expand economic participation among Nigeria’s growing youth population.

The next phase of the initiative is scheduled to end today at Nnamdi Azikiwe University, Awka, where the enrolment exercise for students and youths across the South-East that started since July 1st would be concluded at the university’s Convocation Arena.

The exercise is expected to reach more than 60,000 regular undergraduate students.

Speaking on the partnership, Fidelity Bank’s Divisional Head, Product Development, Osita Ede, said youth empowerment remains central to the bank’s vision of building a more inclusive and prosperous society.

He noted that Nigeria’s youths represent the country’s greatest asset and stressed that providing them with the right skills, opportunities and financial support is critical to unlocking their potential and driving national development.

According to Ede, the bank continues to provide young Nigerians with tools for success through its digital banking platforms, financial literacy initiatives, youth-focused products and strategic partnerships.

He added that Fidelity Bank recognises that limited access to funding, mentorship and business development support remains a major challenge for many aspiring entrepreneurs, and is committed to creating pathways that will help them overcome these barriers.

The bank said its support for YEIDEP aligns with its longstanding commitment to empowering Micro, Small and Medium Enterprises (MSMEs), which it described as key drivers of economic growth and job creation in Nigeria.

Interested students and youths have been encouraged to open Fidelity Bank accounts and register for the programme through the bank’s dedicated online portal.

Nkpemenyie Mcdominic, Lagos

Business

NPA Launches Multi-Agency Taskforce To Combat Apapa Traffic Gridlock

Published

4 days ago

July 3, 2026

The Tide

The Nigerian Ports Authority (NPA) has launched a multi-agency task force to combat the resurgence of traffic gridlock choking the Lagos Port access roads, in a fresh push to restore seamless cargo evacuation and sustain recent gains in Port efficiency.

The intervention followed a stakeholders’ meeting convened by the Managing Director of NPA, Dr. Abubakar Dantsoho, on June 23rd, 2026, where security agencies, freight forwarders, truck operators and representatives of the Lagos State Government agreed on coordinated measures to eliminate the bottlenecks disrupting cargo movement.

At the meeting, stakeholders identified illegal extortion points, overlapping responsibilities among security agencies and other operational distortions as major factors responsible for the renewed congestion along the port corridor.

Speaking on the outcome of the meeting, the NPA’s General Manager, Corporate and Strategic Communications, Mr. Ikechukwu Onyemakara, said the Authority’s overriding priority is to guarantee the unhindered movement of cargo to and from the nation’s seaports.

According to him, the task force comprises the NPA, the Police, the National Association of Government Approved Freight Forwarders (NAGAFF), the Association of Nigerian Licensed Customs Agents (ANLCA), the Federal Road Safety Corps (FRSC), the Maritime Workers Union of Nigeria (MWUN), the Nigerian Association of Road Transport Owners (NARTO) and the Association of Maritime Truck Owners (AMATO).

“The responsibility of the task force is to monitor truck movement on the Port access roads on a regular basis, identify any disruption capable of causing gridlock and immediately resolve such challenges,” Onyemakara said.

He stressed that members of the task force would not establish checkpoints along the corridor but would maintain strategic presence at designated locations to ensure compliance without obstructing traffic.

To enhance rapid response, Onyemakara disclosed that the task force has created a dedicated WhatsApp platform through which members can instantly report infractions or emerging traffic issues for immediate intervention.

On the long-delayed renewal of the Electronic Truck Call-Up (ETO) system contract, the NPA spokesman said the Authority is reviewing the terms to ensure a more robust contractual framework before awarding a fresh agreement.

He explained that although the previous contract had expired, the ETO platform remains operational under the management of the Truck Transit Parks (TTP) pending completion of the procurement process.

He expressed confidence that the renewal would be concluded soon.

Reaffirming the Authority’s commitment to maintaining free-flowing Port access roads, Onyemakara said efficient logistics remain central to the NPA’s drive to improve Nigeria’s Port competitiveness and preserve its growing international reputation.

“We are more interested in the free flow of logistics into our ports than anyone else because it is in our own interest,” he said

Nkpemenyie Mcdominic, Lagos