Business
Eleme Bridge Collapse: The Untold Story
Eleme, like other Niger Delta Communities, stands on a Pinnacle of Wealth, but the natural disposition of the area as the hub of hydrocarbon exploration and development in Nigeria seems to have turned a mirage for the people.
The height of this ironical situation was the recent collapse of the Alode bridge which has resulted in untold suffering for the people and other users of that axis of the East-West Road.
Since the collapse of the bridge, three days ago, tension and anxieties have continued to mount, as life is now unbearable for the teeming road users.
Commercial motorists, tanker drivers and private vehicles owners that ply the route are presently cut off, as the major link road is now shut down.
Angered by the prevailing circumstance, youths from Eleme communities now besiege the road on daily basis in protest, calling for a total shut down of vehicular movement until permanent solution is put to the problem.
The protesting youths in a voiced discontent, said they have consistently raised alarm over the deplorable condition of the road, but such appeals seem to fall on deaf ears.
The aggrieved youths pointed out that before the final collapse of the bridge, users of that axis of the East-West Road, experienced grave difficulties trying to get to their destinations.
Rather than give urgent attention to the deplorable state of the road, the youth, said tankers loaded with petroleum products and other heavy lorries belonging to the various multi-nationals operating in the area continued to stretch the aging bridge until it collapsed.
With the mounting tensions, an orgy of violence is imminent, as the youths have vowed to continue with the protest even in the face of military resistance.
A visit to the road last weekend revealed shootings by soldiers to disperse the protesting youths, leading to a pandemonium, as pedestrians scampered for safety from stray bullets.
Travelling the route is now nightmares as a long file of pedestrians was spotted trekking from Akpajo junction to Refinery Junction where vehicular movement is a little bit freer.
The languid spectacle of line-up of stationary heavy trucks and tankers and the spectacle of pedestrians in long files trying to meet up their appointments painted an odious scene of organised chaos.
Some of the road users who spoke with The Tide, during a visit to the road, bemoaned what they considered the “total neglect of the road, despite the fact that it was the major access route to the two federal terminals, a Mega Petrochemical Plant, Port Harcourt Refinery and myriads of other multi-nationals that prospect for the economic fortune of the Oil and Gas Free Zone Authority”.
A commercial bus driver, Mr Akanimo Udosen, lamented the sufferings to which the road users are subjected as a result of the collapse of the bridge.
Akanimo, who decried the loss of man hour as a result of the collapse of the bridge, thanked God for ensuring that no life was lost in the unfortunate incident.
He called on the Federal Government to construct the road and save the road users from further sufferings.
A private car owner, Engr Festus Tor, said the road has become a death trap for drivers. Tor said the total breakdown of the road had caused severe difficulties to him as he now parks his car and uses Okada, which takes advantage of the situation to swindle the public with exorbitant fares.
Another commercial bus driver, simply known as Mr David, who plies Port Harcourt-Bori route, said the bad road has severely affected his business.
He said commercial drivers now pass through Ban Ogo 1, in Tai Local Government Area through a meandering track route to Afam, Oyigbo before getting to Port Harcourt. This development, he said, has resulted in the increase in Transport fare from Bori to Port Harcourt, while a journey of two hours is now five hours, according to him, the fare which was previously N400, is now N700.
Apart from the increase in the transport fare, he said, the journey has become risky because of the narrow bush track, which is now also used by heavy trailers.
Also in apparent protest to the bad road, tanker drivers in the state have also embarked on an indefinite strike action.
According to the Zonal Chairman of National Union of Petroleum and Natural Gas Workers, NUPENG, Comrade Charles Aleto, the strike is not an industrial action intended to bring hardship to the people but to save the lives of its members.
Aleto said the continuous movement of tanker drivers on the road was dangerous, adding that the strike may be sustained if the Federal Government failed to fix the road. Aleto called on the Federal Government to treat the road as a matter of national emergency, as companies have also, within the past few days, suffered incalculable losses which “vehicles cannot carry products to their target destinations as a result of poor shape of the road”.
A stakeholder in the Oil and Gas Sector, Mr Ali Nyobana, has warned that if the road is not fixed as a matter of urgency, it may result to scarcity of petroleum products in the state.
“It is regrettable that, the road had been abandoned to declay to its present state of disrepair, it is the major route for tankers to carry petroleum products for distribution.
If nothing is done, then there may be fuel scarcity”, he stated.
A social activist, Mr Christain Lekia, described the situation as “the height of political gimmickry and insensitivity to the plight of the people. It is something of a puzzle that the federal government would neglect the major road that leads to its economic nerve wire”.
According to Lekia, the situation amounts to “snuffering of life out of the proverbial goose that lays the golden egg”.
Also in apparent reaction to the bad road, the Ogoni Youth Federation (OYF), has expressed dismay at the state of events in the area.
Coordinator of the Eleme Chapter of the Organisation, Comrade Nwigbalor Gideon Gad, expressed shock over the abandonment of the road, despite its strategic importance to the Nigerian economy. He said the government should urgently swing into action to avert further disaster on the road. He said “the sacrifice of Eleme to the Nigerian economy has turned awry for the people who are now cut off from the rest of the world”.
Apart from serving as a major route to the various companies in the area, the collapsed bridge is also a major route to adjoining L.G.As like Khana, Gokana, Andoni, Okrika, Tai, Opobo/Nkoro and states like Akwa Ibom and Cross River.
The said road had been a major subject of public concern and criticism. Many pundits blame the state of the road on partisan intrigues and lack of political will.
With apparent failure of remediation and palliative measures in fixing the road, it has now become a national emergency to put the road in proper shape to ameliorate the plight of the people. It could be recalled that recently, the Acting President of Nigeria, Prof Yemi Osinbajo, commissioned the world’s largest single-line Urea fertilizer plant, estimated at over $4 billion in Eleme.
The months ahead will, therefore, determine the seriousness or otherwise of government to create a sustainable access route to the mega plant, with 1.5 million tonnes per annum capacity, which places Nigeria on a vantage economic position of being the largest exporter of urea in the world.
Taneh Beemene
The daughter of late Nigerian banking executive, Herbert Wigwe has sold her father’s luxury yacht for $6.5 million which is the equivalent of N8.74 Billion following legal proceedings involving her, Otutochi Wigwe, and the company holding the vessel, Grosvenor Marine Ventures Limited.
This was contained in an online report obtained by The Tide Source in Port Harcourt recently.
The Source further clarified that $6. 5 Million dollars or N8.74 Billion was the asking price as at March this year but was unable to prove, if the said amount was exactly what the vessel went for.
The yacht, known as Chitochi, is a 2016 Custom Line 108 superyacht measuring approximately 33 metres (108 feet) in length. The transaction was handled by international yacht brokerage firm IYC, with its sales and charter consultant, Mark Elliott, overseeing the sale.
The disposal of the high-value vessel followed legal steps taken to address the corporate status of Grosvenor Marine Ventures Ltd., the company through which the yacht was held.
Otutochi Wigwe reportedly approached a court in the British Virgin Islands (BVI) to secure the restoration of the company to the corporate register, a move that enabled the necessary legal steps towards the sale of the vessel.
The proceedings were central to resolving the corporate issues affecting the company and facilitating the transaction, underscoring the legal complexities that may arise when valuable assets are held through corporate entities in foreign jurisdictions.
The sale is also significant in the context of estate administration, as luxury yachts require substantial financial commitments to maintain, even when they are no longer actively used by their owners or beneficiaries.
Such vessels typically attract considerable expenses, including crew salaries, insurance premiums, berthing charges, routine servicing and other maintenance costs, making their continued ownership a major financial responsibility.
Beyond the recurring expenses, luxury yachts are depreciating assets that may lose value over time. Their disposal can therefore form part of a strategy to preserve estate value, reduce liabilities and convert an expensive asset into liquid funds.
Wigwe, who was the former Group Chief Executive Officer of Access Holdings, died on February 9, 2024, in a helicopter crash in California, United States, alongside his wife, Chizoba; their son, Chizi; and former Nigerian Exchange Group chairman, Abimbola Ogunbanjo.
His death was widely mourned across Nigeria’s banking and business communities, where he was recognised for his contributions to the financial services industry, entrepreneurship and philanthropy.
Wigwe’s passing left behind an estate whose administration involves the management of assets and other financial interests, a process that can require legal and financial decisions to protect the interests of the estate and its beneficiaries.
The sale of Chitochi highlights the challenges associated with managing high-value assets held through corporate structures, particularly where the relevant companies and legal proceedings fall under different jurisdictions.
The $6.5 million transaction brings the yacht’s ownership chapter to a close while illustrating how legal procedures, financial considerations and estate management can intersect in the administration of the assets of a prominent business figure.
‘’We determined to get all our equipments and machinery functioning as we progress. For now we’ve about 105 workers, comprising daily paid harvesters and regular staffs. But aside these 105 staffs we also employ daily slashers who for now are about 100.
“During peak periods, hopefully on or before January 2026 we hope to increase our work force for maximum production”, the firm’s management Stated.
King Onunwor
Ariwera Ibibo-Howells, Yenagoa
Some traders at the Rumuwoji Market popularly known as Mile 1 Market have decried the continuous increase in the prices of food stuffs and other items in the ember season.
This was made known by the traders when The Tide visited the market recently.
The traders revealed varying changes in the prices of foodstuffs, with some commodities recording higher increase than others .
A trader Mrs Charity Obinna, at the market, said the price of yam remained the same last week and this week compared to the prices from last month to this month, adding that only a difference of about N100 to N200 was seen.
Another trader, Chukwuebuka Livinus who deals on garri, reported that the prices of some food commodities had been changing frequently.
According to him, the price of a bag of garri increased from N45,000 last week to N58,000 this week, representing an increase of N13,000.
Livinus described the increase as scary and called on the government to do something about it, especially as we get closer to the festive period.
A trader that deals on vegetables, Mrs Joy reported that a significant increase in the prices of pepper rose from N20,000 last week to N40,000 this week.
Similarly, the price of a bag of melon (egusi) increased from N420,000 toN490,000 this week.
In a separate report, Mrs Charity Obinna said that foodstuffs were generally cheaper last month than this month, with price differences ranging from N150 to N200 for some items.
Meanwhile, Giff Okoro reported a decrease in the price of tomatoes. According to her, a quantity of tomatoes that cost N45,000 last month now sells for N25,000, indicating a reduction of N20,000.
Another trader, Usman Ibrahim said the cost of transporting goods from the communities to urban areas where they are sold is one of the major reasons for high cost of goods.
He said transport cost has doubled due to the cost of petroleum products in Nigeria, adding the whole cost is part of the goods because “entrepreneurs must cover their cost and make their gains .
Ibrahim called on the government to help farmers and traders even with little capitals to expand and sustain their business.
Another trader, Mrs Choice Promise a fish retailer said a cartoon which sold at #35,000 last week now sells at #50,000 .
Promise complained that there is no gain or profit because the price has drastically increase and most people cannot afford to buy fish again.
“Mr. President’s Renewed Hope Agenda recognizes that economic ambition requires dependable infrastructure,” Tegbe said.
He added that investments in electricity infrastructure would strengthen the foundations for business expansion, employment and economic growth.
The Kankia substations comprise two 60 MVA, 132/33 kilovolt (kV) facilities designed to strengthen the transmission network serving Katsina State and neighbouring areas.
Tegbe said the infrastructure would improve the network’s ability to distribute available electricity, supporting commercial activities and household welfare.
He also urged residents to protect the facilities against vandalism and other activities that could disrupt electricity infrastructure, asking them to report suspicious activities to TCN or security agencies.
Katsina State Governor, Dikko Umaru Radda, described the project as a significant investment in the state’s electricity infrastructure.
Radda stated that improved electricity supply could support industrial development, economic growth and public service delivery.
He further commended the President, the Federal Ministry of Power and TCN for completing the project.
It would be noted that the latest projects come amid a broader government’s drive to address bottlenecks in Nigeria’s electricity transmission network, which has constrained the amount of electricity that can be delivered to distribution companies and end users.
Wali Chioma, Obasi Chidinma & Amarachi Uche
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