Lagos takeover of Lekki-Epe road,  LCC gets assembly approval – Newstrends
Connect with us

metro

Lagos takeover of Lekki-Epe road,  LCC gets assembly approval

Published

on

Lagos State Governor Babajide Sanwo-Olu’s request for the state to assume full ownership of Lekki Concession Company Ltd, a privately owned company, has received the approval of the state House of Assembly.

The House made the resolution to approve the governor’s request after a presentation of the House Committee on Finance report during plenary session on Monday.

The LCC is the contractor of the Lekki-Epe Expressway and operator of the Lekki toll plaza. The plaza was at the centre of controversy that followed the alleged killing of Endsars protesters by soldiers.

The Lagos House of Assembly had received the request from the Executive on June 21 “and was committed to the Committee on Finance to further look into it and report its findings to the House.’’

The committee’s Chairman, Mr Rotimi Olowo (Somolu I), in his presentation, said the state would become the subsisting shareholder of the LCC with 75 per cent shareholding and the Office of Public Private Partnerships shareholding of 25 per cent.

The lawmaker added that this followed the buy-out of all the shareholding interests of the company by the state government.

Olowo said the original $53.9 million loan obligation from a private sector facility had been resolved after series of engagements between Africa Development Bank, the company and the state government.

He said, “The agreement was to convert the loan to a public sector facility with the benefit of a considerable reduction in interest charges of 1.02 per cent of $1.12 million biannual.

“This is against the 4.12 per cent of $2.746 million per bi-annual, therefore, giving a savings of $1.16 million bi-annual or $3.24 milliom per annum.

“The House, therefore, granted the executive the approval to convert the AFDB loan to the public sector loan backed up by sovereign Federal Government guarantee on behalf of the state government.

“This also authorises the state government to issue a counter-guarantee in favour of the Federal Government along with an Irrevocable Standing Payment Order (ISPO) to deduct from the state’s statutory allocation.”

Olowo noted that the servicing of the loan obligations would have a maturity period of August 2034.
Mr Gbolahan Yishawu (Eti-Osa II) supported the committee’s recommendation, saying, “It was a smart move as the interest rate would not injure what the state was spending on capital expenditure.’’

He added that it would also reduce the interest risk as well as the rate by moving the loan from private to public sector.

Abiodun Tobun (Epe I) said the saving of 3.1 per cent in interest rate difference would reduce the burden on the state government and encourage the savings to be used to develop other sectors.

Femi Saheed (Kosofe II) said restructuring the loan was an indication of the transparency in the state financing, saying it gave add-on flexibility for the additional years granted for the repayment of the loan.

Saheed noted that the request was a standard financial procedure practised all over the world.

The Speaker of the House, Mr Mudashiru Obasa, thereafter, directed the Acting Clerk of the House, Mr Olalekan Onafeko, to send a clean copy of the resolution of the House to the governor.

metro

Ibadan, Abuja, Anambra stampedes: IG orders probe, threatens prosecution of organisers

Published

on

Inspector-General of Police Kayode Egbetokun

Ibadan, Abuja, Anambra stampedes: IG orders probe, threatens prosecution of organisers

The Inspector-General of Police, Kayode Egbetokun, has voiced worry about the unorganised distribution of palliatives and humanitarian supplies across Nigeria during the festive season.

In recent days, a number of regrettable instances have underlined the need for a more structured and secure approach to aid distribution.

On December 18, 2024, a stampede at a children’s funfair in Ibadan, Oyo State, killed 35 children and gravely injured many others.

Another horrific tragedy occurred on December 21, 2024, when ten people died in a stampede at the Holy Trinity Catholic Church in Maitama, Abuja, where food was being provided to the elderly and weak. Several others suffered wounds.

Similarly, a palliative distribution ceremony sponsored by benefactor Obi Jackson in Okija, Ihiala Local Government Area, Anambra State, ended in mayhem, killing three people and injuring many more.

READ ALSO:

Addressing media in Abuja on Saturday, Force Spokesperson Muyiwa Adejobi stated that the Inspector General of Police has directed the Commissioners of Police in the affected states to investigate the situation for possible legal action.

He said, “The IGP emphasised the dangers posed to public safety during these unorganised distributions and funfairs set up by groups, individuals, and NGOs, including the potential for stampedes and other incidents that could endanger lives.

“The lack of a well-defined plan for distributing palliatives has resulted in chaos, leading to long lines and unnecessary confrontations among citizens seeking assistance.

“In light of these developments, the IGP has called on government officials, community leaders, and non-governmental organisations to work collaboratively towards establishing a comprehensive and organised framework for distributing palliatives.

“The IGP has ordered the commissioners of the affected states to carry out thorough investigations into these ugly incidents for further legal actions. The Inspector-General of Police, therefore, sympathises with the bereaved families and wishes those injured a quick recovery.”

He added that the organisers of this charity are criminally accountable, citing clauses in Nigeria’s Penal and Criminal Codes.

Adejobi said, “The IGP has hereby warned groups and organisers of similar events to ensure the involvement of security agencies, as negligence on their part is criminal and would not be overlooked, as provided for in Sec. 196 of the Penal Code and Sec. 344 of the Criminal Code, Laws of the Federal Republic of Nigeria.”

Ibadan, Abuja, Anambra stampedes: IG orders probe, threatens prosecution of organisers

Continue Reading

metro

Yuletide: Travellers want fare discount for road trips

Published

on

Yuletide: Travellers want fare discount for road trips

  • Bemoan high fares

Passengers travelling to their country homes for the Christmas and new year day celebrations have urged the Federal Government to extend the free rail services announced early in the week to road transport routes across the country.

Some of the travellers who complained about the high fares called on the Federal Government to restore the 50 percent fare reduction on inter-state luxury bus routes granted to road passengers at this time last year.

The passengers who spoke at various terminals and loading stations of long distance road transport companies in Lagos, were reacting to the upsurge in fares to about N40,000 on luxury buses and N65,000 on mini buses going to the South-East.

Reports from some of the boarding stations revealed that upon hearing the announcement of free train ride, some passengers thronged the loading stations at various points in Lagos to benefit from the gesture, but were disappointed when they were informed that the offer did not cover road transport.

At Terminal 1 in Oshodi, Alafia, Jibowu, Mazamaza, and private stations in the Cele/Ejigbo axis, on Saturday, passengers bemoaned the high cost of travelling on both the big and small buses, disclosing that many people were not travelling because they couldn’t afford “the exorbitant fares the transport firms are collecting.”

Interestingly, a trip on board Toyota Sienna which used to attract slightly higher fare than on a typical mini bus, is the same at N40,500.

One of the passengers told our reporter one if the stations in Cele, “You press people should please tell (President Bola) Tinubu that poor masses cannot afford to go home this Christmas because there is no money in the country.

“(President) Tinubu should please repeat the 50 percent discount on long distance fares which some of us enjoyed last year to travel home.”

At the nearby Young Young Shall Grow station, a passenger who planned to travel to the east recalled how he took advantage of the 50 percent fare discount to travel from Abuja to Onitsha and back in 2023, and wondered why the Federal Government has not considered the re-introduction of the palliative this festive season.

According to the man who gave his name as Chinedu Uzoechina, his intention to travel to Anambra state and back with his wife and five children, has been stalled by the high transport fares being charged at the various terminals.

Uzoechina, who came to book for seats in advance, lamented, “I was hoping that the 50 percent fare discount that followed the increase in fuel pump price would be available this year, but that has not been the case this year. Forty thousand into seven is N280,000 for one-way luxury tickets.

“If you add the cost of coming back, it means I will spend nothing less than N560,000 on transportation alone for seven of us. Where will I get that kind of money? I have called my wife to inform her of the situation here (at the terminals in Cele).

“She is not happy that we are not travelling anymore, but what can I do?”

According to him, the only thing that can make his family travel again is if the Federal Government extends the free train ride offer to long distance road transport routes, like Lagos-east, or reduces the fares in collaboration with the operators.

Like Uzoechina, many other intending travellers were still hopeful that the government wiuld still intervene with a fare discount, even as they disclosed that they would either cancel the trips outrightly or reduce the number of tickets to be bought, if their hopes are dashed.It was learnt that the fares were slightly lower by about N2,000 at Terminal 1 where both big and mini buses have been loading for day and night trips at Oshodi.

Reacting to the passengers’ complaints about high fares at the terminal owned by the Lagos State Government, Damian Ezuma, the manager of Izu Chukwu Transport, blamed the situation on the rising cost of maintaining the buses as well as on the pump price of diesel, which he said, is as high as N2,000 a litre in some parts of the country.

“It is not our fault. The cost of maintenance is so high that it is only by the grace of God that some of transport companies still manage to keep their buses on the road these days. Do you know that one big bus tyre costs between N250,000 and N500,000, depending on the quality and brand?” Ezuma argued.

He confirmed that many intending travellers who heard about the free train services offer by the Federal Government have been coming to the terminal make enquiries on whether long distance-plying buses are part of the gesture and whether last season’s fare discount applies this year.

Many of them leave the terminal disappointed and deciding not to travel anymore, but opting instead to wait for a possible fare palliative from the government.

Also commenting on the reason for the high fares, a manager at Chisco Transport’s head office in Lagos explained that the unfavourable naira-dollar exchange rate has impacted on the prices of replacement parts and maintenance costs generally.

But a major factor is the fact that during the peak festive season, buses are usually full when leaving major cities like Lagos and Abuja, but are almost empty in their return journeys.

So some operators slightly adjust their fares upward to cover the losses incurred during return trips.

In 2023, the special fare discount by government through the luxury bus owners took effect on December 21, and lasted till the second week of January, 2024.

Continue Reading

metro

Navy arrests 19 Nigerians attempting to reach Europe by hiding on ship

Published

on

Navy arrests 19 Nigerians attempting to reach Europe by hiding on ship

The Nigerian Navy Ship (NNS) BEECROFT has successfully apprehended 19 individuals attempting to stow away on Europe-bound vessels.

In a statement issued on Saturday in Lagos, the ship’s Information Officer, Lt. Hussaini Ibrahim, disclosed that 15 stowaways were intercepted on Dec. 19 aboard the European-bound Moto Tanker (MT) KRITI RUBY. Another four were caught on Dec. 21 aboard MT MCC YANBU.

“Preliminary investigation revealed that the stowaways boarded the vessels at night and concealed themselves in the rudder compartment while attempting to illegally migrate to Europe,” Ibrahim stated.

The Navy’s Quick Response Team (QRT), operating from ATLAS COVE and using the Falcon Eye Alignment under the Nigerian Navy Maritime Domain Awareness Facility, facilitated the interception of the 15 individuals near the Lagos fairway buoy.

READ ALSO:

Ibrahim further explained that credible intelligence led to the interception of the additional four stowaways by Navy personnel deployed on escort duties aboard the vessel.

“The prompt response of the QRT saved the stowaways from exposure to life-threatening situations during the long voyage,” he added.

The first group of 15 individuals has been handed over to the Nigeria Immigration Service, Lagos State Port/Marine Command, Apapa, for further investigation and necessary action. The remaining four suspects will also be transferred in due course.

“The presence of stowaways poses serious security threats to maritime operations, including risks of smuggling, piracy, drug and human trafficking, among other maritime crimes,” Ibrahim noted.

He emphasized that under the leadership of Chief of Naval Staff Vice Adm. Emmanuel Ogalla, NNS BEECROFT will continue maintaining security along Lagos waterways and surrounding creeks to support safe maritime activities and economic growth.

 

Navy arrests 19 Nigerians attempting to reach Europe by hiding on ship

Continue Reading

Trending