Business
RTEAN Assures Commuters Of Improved Transportation
The National President,
Road Transport Employers Association of Nigeria (RTEAN), Mr Musa Shehu, has assured commuters in the FCT of improved transportation.
Shehu told reporters in Abuja yesterday that the association was concerned over commuters’ daily struggle for vehicles to return home at the close of work .
According to him, RTEAN is expecting some high capacity buses to be used for the Bus Rapid Transit (BRT) project, adding that arrangements had also been made to procure 300 taxis from Nissan.
“I was one of those that challenged the former minister that one cannot give what one does not have. You are not supposed to stop all those vehicles when you did not bring vehicles to replace them.
“I feel for people when they close in the evening and leave home early in the morning looking for vehicles and finding few or no vehicles at all.
“This will be over soon because anytime from now, we are expecting 100 high capacity buses that we are going to use for BRT and we have made arrangements to get 300 taxis from Nissan.
“We have been given operational licences to run the BRT, taxis and the mini-buses for interstate travels, but we have not been given the route that the BRT will operate.”
Shehu said the association had been given the licence to operate in Lagos, Enugu and the FCT, adding that the inauguration would take place before the end of the month.
He said that 50 high capacity buses and 200 taxis would be put in the FCT with a view to alleviating the difficulty of commuters within the city.
The RTEAN president, while commenting on insurance scheme for accident victims, said the association was not charging extra for insurance.
According to him, the money is actually deducted from the actual fare.
He said that the association had to terminate its contract with the former insurance company because it had proved to be unreliable, having only paid insurance to one victim in Kaduna.
He identified the new company handling the contract now Nujuum Insurance Limited, adding that they had signed on for a period of four years.
Shehu said the association had warned its members nationwide not to increase transport fares because of the Sallah festival.
“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.