Sanwo-Olu, Fashola seek support for proposed 4th Mainland Bridge – Newstrends
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Sanwo-Olu, Fashola seek support for proposed 4th Mainland Bridge

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Lagos State Governor, Babajide Sanwo-Olu, has appealed for cooperation from Lagos residents and all other stakeholders toward the successful execution of the proposed 4th Mainland Bridge in the state.

Represented by his deputy, Dr. Obafemi Hamzat, the governor made the appeal on Tuesday during a maiden stakeholders meeting on the Environmental and Social Impact Assessment for the Lagos 4th Mainland Bridge in Ikeja.
Sanwo-Olu said, “There is a need to review and evaluate the gains we have made so far, assess the bottlenecks we have encountered and recommend necessary steps towards achieving our desired objective, that is the delivery of the 4th Mainland Bridge.

“It is instructive to note that the commencement of the project will be another undeniably flagship project of this administration.

“We must therefore use this stakeholders meeting to consult amongst ourselves as we take steps to remove all the bottlenecks that may impede the delivery of the bridge.

“All the components of Lagos mobility must be considered.”

According to him, the proposed 4th Mainland bridge project has been well integrated into the overall Lagos Master Plan in relation to transportation infrastructure and will boost the economy of the state.

“The project allows for the first time direct access from the large suburb of Ikorodu to the Island and the Lekki Free Trade Zone area,” he said.

Sanwo-Olu said the meeting, which would be replicated in various local government areas where the project would be extended, was expected to boost the acceptability and implementation ratings of the bridge.

The governor recalled that the 4th mainland bridge project was conceived 15 years ago to complement the existing 3rd Mainland Bridge in addressing the transportation needs of the growing population.

Sanwo-Olu explained that government was working with other agencies and the private sector and had also appointed a dedicated advisory team, including KPMG Nigeria, to handle the financial aspects.

He added that Olaniwun Ajayi and AEC-Rendel were to handle the legal and technical areas respectively.
Sanwo-Olu said the team evolved strategies working through various stages of selecting a consortium to deliver the project, which was at the sixth and final stage for construction to begin.

The governor said in order to proceed to the next phase of the process, six consortia were selected, including Mota-Engil/CCCC Consortium and Power China International Group Limited/Power Construction Corporation of China.

Others are China State Construction Engineering Corporation Nigeria Limited, CGGC/CGC Consortium, CCECC/CCRICG Consortium and ICICTAS Insaat San ve Tic ASIConds INds and Trade Corp.
Sanwo-Olu explained that the various stages of negotiation and construction would be handled by different layers of experts, giving opportunity for replacement of under performing preferred bidders in the six categories on the project.

In his remarks, the Minister of Works and Housing, Babatunde Fashola, assured Lagos residents of his “unalloyed support toward the construction of the 4th Mainland Bridge”.

He noted that the bridge would create job opportunities, both direct and indirect, for the people of Lagos and its neighbouring states.

He said, “It will empower a lot of its citizens and a lot of businesses will blossom.

“Currently, the 6 October Bridge, Cairo, Egypt, which measures 20.5km, holds the continent’s length-crown.

“When completed, the Fourth Mainland Bridge will be the longest in Africa.”’

Giving a brief of the project, Dr Peter Agunbiade of Advance Engineering Consultants said the project was redesigned to reduce the length of the bridge, travel time and number of houses to be demolished on the alignment of the construction.

According to him, the project is now a 37.4km freeway, subdivided into three sections, namely: Island Section, Lagoon Section and Mainland Section.

He said, “It starts at the Abraham Adesanya Roundabout in Lekki, where a free flow interchange will be constructed, as well as some traffic flow alterations to the existing Lekki-Epe Expressway so as to maintain traffic movements during construction.

“The freeway then proceeds north, toward the lagoon, passing through Ajah and Langbasa areas, crossing the Addo Badore Road, before arriving at the lagoon shoreline.

“The road crosses the lagoon via a 4.5km lagoon bridge and land between Bayeiku and Ijede villages.

“It continues northward, passing through the Ikorodu/Epe and Ikorodu/Sagamu expressways and then continue and turns northwest, within Ikorodu suburbs toward Isawo Road.

“The freeway continues west, where it briefly enters and exits Ogun State toward the Lagos-Ibadan expressway, where it will interfaces with the federal highway.”

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Nigeria seeks fresh $300m W’Bank loan for health security

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Nigeria seeks fresh $300m W’Bank loan for health security

The Federal Government has engaged the World Bank for a new $300 million loan aimed at strengthening Nigeria’s health security infrastructure.

According to World Bank documents, the Nigeria Centre for Disease Control (NCDC) will implement the project, with the Federal Ministry of Finance acting as the borrower.

The initiative aims to enhance Nigeria’s capacity to prevent, detect, and respond to health emergencies.

The project is currently in the pipeline stage, with a disclosure date set for February 6, 2025.

The World Bank Board is expected to approve it on July 30, 2025, after necessary appraisals and assessments. Implementation will commence in the 2026 fiscal year.

The Nigeria Health Security Programme (HeSP) will focus on expanding molecular laboratory capacity, upgrading primary healthcare centres, establishing emergency operation centres and deploying mobile laboratories.

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Others are constructing warehouses for medical supplies, installing water, sanitation, and hygiene facilities and integrating solar energy systems to power health infrastructure.

The initiative is part of efforts to strengthen Nigeria’s public health infrastructure, following lessons from past outbreaks, including COVID-19.

This latest loan request comes as Nigeria continues to rely heavily on external financing. Under President Bola Tinubu’s administration, the Federal Government has secured $6.95 billion in World Bank loans over the past 18 months.

Data from the Debt Management Office shows that Nigeria owes the World Bank $17.32 billion, with the International Development Association (IDA) accounting for $16.84 billion.

In the first nine months of 2024, Nigeria spent $3.58 billion servicing its foreign debt, a 39.77% increase from $2.56 billion during the same period in 2023.

Nigeria seeks fresh $300m W’Bank loan for health security

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CBN to sanction banks limiting ATM withdrawal below N20,000

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CBN Governor, Olayemi Cardoso

CBN to sanction banks limiting ATM withdrawal below N20,000

The Central Bank of Nigeria, CBN, has threatened to sanction banks that limit Automated Teller Machines (ATM) withdrawal to less than N20,000 per transaction.

The apex bank disclosed this in a document addressing concerns over the reviewed fees on ATM withdrawal.

Recall that CBN on Tuesday increased ATM transaction withdrawal fees, saying, from March 1st, bank customers will pay N100 charge for every N20,000 withdrawal from the on-site  ATM of other  banks.

The CBN in a circular to banks and other financial institutions, the CBN said,  “ATM Transaction Fees On-Us for customers withdrawing at the ATM of the customer’s financial institution in Nigeria with No charge.

“Not-On-Us for withdrawal from another institution’s ATM in Nigeria; On-site ATMs will attract a charge of N100 per N20,000 withdrawal.

“Off-site ATMs will attract  a charge of N100 plus a surcharge of not more than N500 per N20,000 withdrawal.

“The surcharge, which is an income of the ATM deployer/acquirer, shall be disclosed at the point of withdrawal to the consumer.

“International Withdrawals (per transaction) whether debit/credit card: Cost Recovery – exact charge by international acquirer.

“Furthermore, the three free monthly withdrawals allowed for Remote-On-Us (other bank’s customers/Not-On-Us consumers) in Nigeria under Section 10.6.2 of the Guide shall no longer apply.”

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However, following widespread concerns over the limit on ATM cash withdrawal by banks, the apex and yesterday released a list Frequently Asked Question, FAQ, to clarify implementation of the new charge.

CBN to sanction banks limiting ATM withdrawal below N20,000

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Google CEO meets Tinubu over AI skills expansion in Nigeria

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Google CEO meets Tinubu over AI skills expansion in Nigeria

The CEO of Google, Sundar Pichai on Wednesday met with Nigeria’s President Bola Tinubu in Paris, where both leaders discussed a partnership to expand Artificial Intelligence (AI) skills in Nigeria.

Pichai first shared a picture of the meeting with Tinubu on X, noting that the discussions centered on the immense potential of AI in Nigeria.

“It was great meeting with President Tinubu @officialABAT. 

“We talked about the immense potential of AI in Nigeria, and how we can partner to expand AI skills, enable innovation, and support Nigeria’s growing tech ecosystem,” Pichai posted.  

Commitment to AI in Nigeria 

Responding to the post, the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, who was also at the meeting, described the discussions as “extremely productive”.

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According to him, the meeting demonstrated the Nigerian government’s commitment to AI and Google’s ongoing support towards developing AI skills and innovation in critical sectors in Nigeria.

Last year, Google announced two separate AI initiatives in Nigeria in partnership with the Ministry of Communications, Innovation, and Digital Economy, both aimed at empowering Nigerians with AI skills.

In the first initiative, the National Centre for Artificial Intelligence and Robotics (NCAIR),  a N100 million AI Fund backed by Google to support Nigerian startups that are leveraging AI to develop innovative solutions.

The second initiative was a N2.8 billion support from Google to accelerate AI talent development across Nigeria.

According to the Ministry, the support, which was provided as a grant from Google.org to Data Science Nigeria, would bolster its ongoing AI-driven initiatives to upskill youth and under- and unemployed Nigerians, with a focus on AI skill development and education.

Google CEO meets Tinubu over AI skills expansion in Nigeria

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