Business
Communities Demand Roads, Drainages
Residents of Ijeododo, Ijegamo, Okerube, Fagbile and Abaranje in Igando/Ikotun Local Council Development Area, Lagos, have appealed to Gov. Babatunde Fashola, to construct roads and drainage to reduce their hardship.
They told newsmen on that their communities were not habitable due to the absence of drainage channels.
They said that they were usually cut off by flood anytime it rain, adding that the roads were inaccessible during downpours.
An Ijegamo resident, Chief Abiodun Ajayi, told The Tide source that fares go up by over 200 per cent when it rain.
Another resident, Mrs Janet Mathias, said that most parent were afraid of the possibility that their ward might drown.
“Last year, a child drowned and the body was discovered the next day,’’ Mathias said.
A landlord in Ijeododo, Mr Vitalis Ukewuihe, told reporters that he once abandoned his house because of the state of the roads during heavy downpours.
“The place is very sandy and many cars breakdown in the flooded roads,’’ Ukewuihe said.
He said that the road condition in the communities had forced many people to patronise commercial motorcycles, popularly called ‘Okada’.
“These Okada guys now charge so much from us because they know many of us will always engage their service,’’ he said.
A resident of Fagbile community, Miss Juliet Igwe, a school principal, said: “our roads here have never been tarred; some were only graded early last year.
“But during the rainy season, they are usually flooded, messy and also extremely dusty during the dry season,’’ Igwe said.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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