Business
Naira goes for N1,500/$ at parallel market
Naira goes for N1,500/$ at parallel market
The Naira yesterday appreciated in the parallel market to N1,500 per dollar from N1,505 per dollar on Monday.
Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,500.79 per dollar from N1,490.2 per dollar on Monday, indicating N10.59 depreciation for the naira.
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The volume of dollars traded (turnover) in the market fell by 10 percent to $136.72 million from $152 million traded Monday.
Consequently, the margin between the parallel market and NAFEM rates narrowed to 79 kobo per dollar from N14.8 per dollar on Monday.
Naira goes for N1,500/$ at parallel market
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Leadership by example: FRSC Corps Marshal leads field operations, patrol highways
Leadership by example: FRSC Corps Marshal leads field operations, patrol highways
By Bisi Kazeem
As the year winds down and Nigerians embark on end-of-year travels, the Federal Road Safety Corps (FRSC) has intensified its efforts to curb road crashes and ensure safer highways. Leading this charge is the Corps Marshal, Shehu Mohammed, who has set a sterling example of sacrificial leadership by actively participating in frontline operations during this critical period.
The end of the year is a notoriously perilous time on Nigeria’s roads, marked by increased traffic, heightened road traffic crash risks, and a surge in reckless driving.
However, under the proactive leadership of the Corps Marshal, the FRSC rolled out an unprecedented campaign to reduce road traffic crashes and fatalities, ensuring that the festive season is marked by joy rather than tragedy.
True leadership is not defined by words but by action. The Corps Marshal exemplifies this by personally leading field operations, patrolling highways, monitoring traffic flows, and directly engaging with road users.
His visible presence has reinvigorated the morale of FRSC officers and demonstrated to the nation that leadership is about service and sacrifice.
He defied insecurity on the highways and embarked on a traffic monitoring operation from Abuja, the Federal Capital, through Kogi, Ekiti, Ondo, Owo, Ore, down to Edo and Delta.
His decision to lead from the front underscores his commitment to the FRSC’s mission of saving lives and highlights the urgent need for compliance with traffic rules and regulations.
From the beginning of the Ember Months sensitisation campaign in September, the Corps had gone ahead of time, implementing series of robust measures aimed at addressing road safety challenges during the festive season. These remedies include; increased patrols and checkpoints as additional officers and vehicles have been deployed in strategic points on highways to monitor and enforce compliance with traffic laws; organised nationwide safety campaigns targeting speed violations, drunk driving, overloading and seatbelt use.
These campaigns educate drivers on the dangers of reckless behaviours and emphasize the importance of safe driving practices.
The Corps also ensured Emergency Response Preparedness: ambulances, tow trucks, and rescue teams are on standby to ensure rapid responses to emergencies, reducing fatalities and injuries in the event of crashes.
Knowing that the task of making the highways safe is a collective action, FRSC went into the season with strengthened partnerships with key stakeholders, including the Nigeria Police Force, transport unions, traditional rulers and local communities, to foster a united front in the battle against road crashes.
The Corps Marshal’s leadership has inspired not just his officers but also the general public.
His direct involvement sends a clear message that road safety is a shared responsibility requiring the commitment of all stakeholders.
The Corps Marshal’s hands-on approach during this critical period has not only motivated the FRSC team but has also restored public confidence in the agency’s commitment to saving lives,” said a motorist who witnessed the Marshal’s activities firsthand on the Niger Bridge.
The monitoring activities carried out across major corridors suggest that the intensified efforts are yielding positive results, with a noticeable reduction in road crashes and fatalities compared to previous years.
The Corps Marshal’s example of sacrificial leadership has brought renewed vigor to the FRSC’s operations, ensuring that every life is valued and protected.
Needless to state that the FRSC Corps Marshal, Shehu Mohammed, is indeed an enigma, a force to be reckoned with and a true example of practical leadership in public service as he leads yet again by example in the fight against road crashes in Nigeria.
Taking active front-line roles, dedicating to sacrificial leadership and willingness to take bold steps to address the challenges facing Nigerian roads.
By setting the pace, he’s inspiring his team and other stakeholders to join forces in the quest for safer roads in Nigeria.
As the festive season continues, let us all join the FRSC as they call on all Nigerians to support its efforts by adhering to traffic rules, avoiding risky driving behaviours, and prioritizing safety on the roads.
Together, with the leadership of the Corps Marshal and the dedication of FRSC personnel, a safer, accident-free festive season is achievable.
The Corps Marshal’s leadership reminds us all that effective leadership requires sacrifice, action, and a deep commitment to service.
As Nigerians embark on their journeys this season, they can take comfort in knowing that the FRSC is working tirelessly to make the roads safer for everyone.
*DCM Bisi Kazeem (Rtd), fsi MNIM anipr, a public relations expert and media guru writes from Lagos, Nigeria.
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FG deploys Lanre Shittu CNG buses as airport shuttle
FG deploys Lanre Shittu CNG buses as airport shuttle
The Federal Government has commenced the deployment of Lanre Shittu Motors (LSM)-branded Compressed Natural Gas (CNG) buses in the nation’s airports for passengers shuttle.
The first batch of the CNG-powered buses has been launched at the Murtala Muhammed Airport, Lagos, at a ceremony attended by the Minister of Aviation and Aerospace Management, Festus Keyamo, and Managing Director, Federal Airports Authority of Nigeria (FAAN), Mrs Olubunmi Oluwaseun Kuku.
Speaking during the unveiling at the Lagos airport, the minister said the deployment was in line with the directive of President Bola Tinubu.
He said it was part of Nigeria’s commitment to reducing carbon emissions and meeting global climate targets.
‘’What you see here today is a fleet of CNG buses for FAAN to commence passenger movement at all our airports immediately,” the minister said.
He said the newly acquired CNG-powered LSM buses unveiled at the Lagos airport are eco-friendly with zero emission and designed with accessibility features for persons with disabilities.
The deployment, he added, was in compliance with the President’s goal of reducing reliance on traditional fossil fuels of petrol and diesel and promoting sustainable use of CNG to power vehicles in the country.
The introduction of the CNG to power automobiles is one of the Federal Government’s initiatives to ease the impact of fuel subsidy removal on the masses.
The CNG buses, according to the Managing Director of Lanre Shittu Motors, Taiwo Shittu, come in two specifications: a 31-seater for airport shuttle services and a 54-seater for mass transit city buses.
He said they had been equipped with modern amenities, including air conditioning, viewing screens, and charging stations.
With the introduction of the CNG buses, he said LSM aimed to provide a more sustainable and efficient transportation solution not only to Lagos but other parts of the country.
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LSM MD extols founder’s qualities after latter posthumous industry award
LSM MD extols founder’s qualities after latter posthumous industry award
*He left us a good name, says son
Founder and late Chairman of Lanre Shittu Motors (LSM), Alhaji Olanrewaju Shittu, has been honoured with a Nigerian auto industry posthumous award.
This was announced in Lagos at the 2024 edition of the annual
Nigeria Auto Journalists Association (NAJA) announced this in Lagos at the 2024 recently industry awards.
The prestigious award was received by one of his sons, Mr Taiwo Shittu, who is also the managing director of the auto company.
NAJA said the award was in acknowledgement of the leading role of the LSM founder in the development of the automotive business in Nigeria, describing him as a silent achiever.
Speaking on the honour, Taiwo Shittu, who was also declared the Nigeria’s Auto Personality of the Year, praised his father for painstakingly building the LSM brand and leaving behind a good name to the delight of the children and the entire family members.
He described this as a legacy accounting for the success of the company so far since his father’s demise over a year ago.
He said, “I must thank my late father, Alhaji Razaq Olanrewaju Shittu, for building the brand name. There is nothing like a good name.
“If you don’t leave anything for your children other than a good name, the sky is the limit for them.
“In our own case, he left us money and the good name. We can’t thank him enough for leaving us with a good name.
“You can imagine that everywhere we turn to in the country, once we mention we are Lanre Shittu’s sons, we are ushered in immediately.
“People would say ‘Your father was a good man. He won’t cheat you if you did any business with him. His word was his bond; he never broke his promises’. I have heard this many times. And the only thing we can do is to build on this legacy.”
Taiwo Shittu also noted that the unity existing among the 20 surviving children of the late LSM founder was part of his father’s legacies and something for other family businesses in Nigeria to emulate.
He said, “A lot of businesses collapse after the death of their owners. Once a business founder is dead, the next you hear is that a fight has broken out and while one person is taking the arm, another is claiming the leg, the other is going for the body. And in six months, the whole empire is gone down.
“In our case, we have 20 siblings that are cooperative and believe in my ability to lead the business with my other brothers.
“We had a father who never spoiled us. He taught us sincerity, commitment and accountability.”
He also spoke about the lifestyle of the late father, saying even though he was a car dealer and loved cars, he would only change his main car after every 10 years.
“Yes, he loved cars. He used to have a Rolls Royce. But he no longer had it before he died. What he had was a Mercedes-Benz Maybach. His car garage was not packed full. Even though he was a car dealer, he changed his main car every 10 years.
“He was a very prudent man. At the beginning of his adult life, he had many cars; in the middle, he was prudent. It was at the end that he bought some flashy cars such as Lexus L600, MayBach 650 engine – at that time only he and ex-President Muhammadu Buhari had that car. He bought the car then because the family was preparing for three weddings. By time he died, the MayBach had only run 600 miles.”
The LSM chairman, according to him, started the auto business in the late 1970s as a car dealer with three vehicles.
He said he was so creditworthy that many were willing to release their vehicles to him on credit, adding that this helped the business to grow faster.
He recalled how he would travel to Ogbomosho, Oyo State, and Kaduna to buy cars and returned to Lagos with double the number he could readily paid for.
“Sometimes, he would travel as far as Kaduna to buy 12 cars from PAN, he would be the person driving the last vehicle while others were ahead driving all the way to Lagos,” he stated.
Before delving into automobile assembling, he also recalled that Daewoo and Rolls Royce were the two brands that gave the LSM a real breakthrough.
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