Lagos launches seven high-capacity boats, to open new water routes – Newstrends
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Lagos launches seven high-capacity boats, to open new water routes

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4 years ago

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In a move to boost water transportation, the Lagos State Governor, Bababjide Sanwo-Olu, has launched seven high-capacity boats and announed plans to renovate 15 jetties as well as open new water travel routes aimed at attracting more people into the transport mode to reduce traffic congestion on the road.
He also inaugurated cowry cards at the Cowries Jetty of the Lagos State Waterways Authority in Ikoyi, Lagos.
The governor, who was represented by his deputy, Obafemi Hamzat, urged the people to embrace water transportation “as it remains the fastest, most reliable and safest means of transportation within the state”.
He said, “The procurement of these high-capacity boats is in fulfilment of our promise to double the number of boats in the LAGFERRY fleet within the shortest time, enhance the capacity of ferry services for efficient service delivery.
“We are also launching the cowry card for water transportation to create a seamless payment scheme for our multimodal transportation system, which is gradually taking shape as we have begun the integration of our rail lines, bus terminals and waterways.”
He urged the organised private sector to invest in water transportation, noting that the economic potential was limitless.
The governor said, “I assure you that we will continue to support private sector participation in water transportation by putting in place the most appropriate regulatory framework for high returns on investment.
“We are building and rehabilitating 15 jetties across the state, and dredging our waterways to open up more jetties.
Our people have nothing to fear when they board our ferries.”
According to him, in the last one year, LAGFERRY has moved over 500,000 passengers across our waterways, including the Super Eagles, who were successfully ferried to and from Benin Republic for their AFCON qualifying match.
He said, “In addition to commuting people, it is heartwarming to know that LAGFERRY promotes tourism and commerce by providing logistics solutions to business owners who move their trucks and cargoes through the waterways within Apapa and through regular charter services.”
The current administration in state, he added, would continue to prioritise absolute safety on the state waterways by ensuring total compliance with safety protocols and
regulations including regular use of life jackets by both operators and
passengers, conducting seaworthiness inspections bi-annually, and removing wrecks from navigable channels.
“We have concluded plans to boost our water transportation safety measures and protocols with the deployment and installation of technological devices for improved navigation, the development of nautical charts and the purchase of state-of-the-art patrol boats and safety equipment to upgrade LASWA’s SAR unit,” Sanwo-Olu said.
Managing Director of LAGFERRY Abdoulbaq Ladi-Balogun, said the seven new boats brought the total number of boats to 20 running concurrent commercial operations.
He said, “This is the first time we are going to have a total of 20 boats running concurrent commercial operations. The seating capacity of the 19passenger boats currently stands at 710.”
“Mr Governor’s commitment and promise to continue to patronise local manufacturers of boats has ensured the construction of these seven new boats by local boat builders.
“The boats are built to international standard and equipped with modern gadgets like Wi-Fi, GPS, Echo Sounder, VHF radio, USB charging ports, 13-amp sockets, TV and radio, tool box, first aid box, fire extinguishers.”
He noted with the unwavering support of the governor, his administration’s commitment to create an instant alternative to road transport.
He also stressed the need to ensure Lagos benefits from the Blue Ocean Economy with a global asset base of over $24tn, generating at least $2.5tn each year from the combination of fishing and aquaculture, shipping, tourism, and other activities.
The governor said, “To date, we have moved over 41,040 trucks from our terminal. Over 2,308 cleared goods containers have been received from the port and well over 941 containers have been loaded back to the ports.
“We have also been able to create 284 employment directly and indirectly, and of course, paying taxes to the coffers of the state.
“LAGFERRY, as at yesterday, (Monday), after 317 days of operations, has ferried over 524,000 passenger with an increasing daily average passenger flow of over 1,500. “12 passengers boats have collectively ran 7,061 hours spanning 286,280 kilometers for 10,182 trips.
“We boast of an impressive safety record as we can proudly tell you that we have never recorded any accident since the agency started commercial operations on February 6, 2020. With the kind approval of Mr. Governor, all passengers on the boats of LAGFERRY can now enjoy insurance cover on all trips.”
Some of the new routes recently approved by the governor are Badagry- Liverpool – CMS; Agbara-Ojo- Liverpool – CMS; Agbowa Ikosi – Ebute Ero – CMS; Ilaje Bariga – Ebute Ero – CMS – Falomo – Victoria Island; Epe – Victoria Island – Falomo; Bayeku – Oke Ira Nla – Badore; Badore – Falomo – CMS Marina; Ibeju Lekki – Falomo.

 

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Lagos Rail Mass Transit part of FG free train ride – NRC

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21 hours ago

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December 21, 2024

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Lagos Rail Mass Transit part of FG free train ride – NRC

The Nigerian Railway Corporation (NRC) has disclosed that the Lagos Rail Mass Transit (LRMT) trains are included in the Federal Government’s free train ride initiative for the Christmas and New Year celebrations.

The LRMT, which currently includes the Phase 1 Blue Line Rail and the Phase 1 of the Red Line Rail, operates under the Lagos Metropolitan Area Transport Authority (LAMATA).

This announcement was made by Ben Iloanusi, the Acting Managing Director of the NRC, during an interview on NTA News TV on Friday, following the launch of the initiative earlier that day.

While Iloanusi stated that Phase 1 of both the Blue Line and Red Line Rail projects are part of the program, LAMATA has yet to confirm this inclusion.

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Iloanusi outlined the other routes benefiting from the scheme, which include the Lagos-Ibadan Train Service, Kaduna-Abuja Train Service, Warri-Itakpe Train Service, Port Harcourt-Aba Train Service, and the Bola Ahmed Tinubu Mass Transit in Lagos. Notably, little was previously known about the Bola Ahmed Tinubu Mass Transit service until this disclosure.

“Let me mention the routes where this free train service is happening. We have the Lagos-Ibadan Train Service, we have the Kaduna-Abuja Train Service, we have the Warri-Itakpe Train Service, we have the Lagos Rail Mass Transit trains, we have the Port Harcourt-Aba Train Service, and we have what we call the Bola Ahmed Tinubu Mass Transit, which is also in Lagos,” he stated.

Iloanusi provided operational updates, stating that passengers nationwide can access free tickets online or, for those unable to do so, at train stations where they will be profiled and validated.

He noted that passengers using NRC-managed services (excluding the Lagos Rail Mass Transit) should reserve tickets via the official website, www.nrc.gov.ng, with a valid ID required. He also advised travelers to plan, arrive on time, and bring valid identification.

Lagos Rail Mass Transit part of FG free train ride – NRC

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NNPC denies claim of Port Harcourt refinery shutdown

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22 hours ago

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December 21, 2024

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Port Harcourt refinery

NNPC denies claim of Port Harcourt refinery shutdown

The Nigerian National Petroleum Company Limited (NNPCL) has denied claims in media reports that the newly refurbished Port Harcourt refinery has shut down.

The national oil company denied the claim in a press release issued by its Chief Corporate Communications Officer, Olufemi Soneye, on Saturday.

Soneye said the claim was false and urged Nigerians to disregard it. He stressed that the Port-Harcourt Refinery is fully operational.

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The statement read, “The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to reports in a section of the media alleging that the Old Port Harcourt Refinery which was re-streamed two months ago has been shut down. 

“We wish to clarify that such reports are totally false as the refinery is fully operational as verified a few days ago by former Group Managing Directors of NNPC.”

He noted that preparation for the day’s loading operation is currently ongoing, and added that claims of the shutdown are “figments of the imagination of those who want to create artificial scarcity and rip-off Nigerians.”

NNPC denies claim of Port Harcourt refinery shutdown

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CBN permits BDCs to buy up to $25,000 FX weekly from NFEM

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2 days ago

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December 20, 2024

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CBN Governor, Olayemi Cardoso

CBN permits BDCs to buy up to $25,000 FX weekly from NFEM

The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM). 

The Central Bank of Nigeria (CBN) has granted Bureau de Change (BDC) operators temporary permission to purchase up to $25,000 weekly in foreign exchange (FX) from the Nigerian Foreign Exchange Market (NFEM). 

This move, detailed in a circular dated December 19, 2024, is designed to meet seasonal retail demand for FX during the holiday period. 

The circular was signed by T.G. Allu, on behalf of the Acting Director of the Trade and Exchange Department. 

The arrangement will be in effect from December 19, 2024, to January 30, 2025. 

Under the directive, BDCs may purchase FX from a single Authorized Dealer of their choice, provided they fully fund their accounts before accessing the market.  

Transactions to occur at the prevailing NFEM rate 

The transactions will occur at the prevailing NFEM rate, and BDCs are required to adhere to a maximum 1% spread when pricing FX for retail end-users.

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All transactions conducted under this scheme must be reported to the CBN’s Trade and Exchange Department. 

The circular read in part:

“In order to meet expected seasonal demand for foreign exchange, the CBN is allowing a temporary access for all existing BDCs to the NFEM for the purchase of FX from Authorised Dealers, subject to a weekly cap of USD 25,000.00 (Twenty-five thousand dollars only).

This window will be open between December 19, 2024 to January 30, 2025. 

“BDC operators can purchase FX under this arrangement from only one Authorized Dealer of their choice and will be required to fully fund their account before accessing the market at the prevailing NFEM rate. All transactions with BDCs should be reported to the Trade and Exchange department, and a maximum spread of 1% is allowed on the pricing offered by BDCs to retail end-users.” 

The CBN assured the general public that PTA (Personal Travel Allowance) and BTA (Business Travel Allowance) remain available through banks for legitimate travel and business needs.”

These transactions are to be conducted at “market-determined exchange rates” within the NFEM framework.

This initiative reflects the CBN’s strategy to stabilize the FX market and manage seasonal surges in demand.

CBN permits BDCs to buy up to $25,000 FX weekly from NFEM

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