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Lagos state government is to partner with the private sector in the construction of the 4th mainland bridge, the 26-kilometre infrastructure designed to link Ikorodu to the state’s economic hub in Eti-Osa Local Government Area. The bridge which will gulp N220 billion will complete a transport ring around the city, and facilitate the rapid expansion of the eastern corridor of Lagos state. Ben Akabueze, commissioner for Economic Planning and Budget, Lagos State, said the federal or the state government would not be financing the 4th Mainland Bridge as private sector investors have made plans to invest in the construction of the bridge. Akabueze who spoke at the 2013 Seminar/Luncheon of the Financial Services Group of the Lagos Chamber of Commerce and Industry (LCCI) noted that the state requires a much larger budget than it currently operates. He stated that inadequate revenues constitute the principal impediment to achieving a  larger budget. ...

The Federal Government has told a Federal High Court, Lagos, that the Lagos State Government failed to obtain the approval of the National Inland Waterways Authority before it started constructing the Lekki-Ikoyi Suspension Bridge, which is the first suspended bridge in Nigeria. It alleged that by the construction of the bridge, the state government had encroached into the Lekki/Ikoyi Lagoon, which it claimed was under NIWA’s exclusive authority. This was contained in the joint counter-affidavit filed by the Attorney-General of the Federation and NIWA in a suit instituted by a rights lawyer, Mr. Ebun Olu-Adegboruwa. Justice Saliu Seidu on Monday fixed December 5 for hearing. The judge had earlier on April 30 adjourned till July 9 for judgment, but along the line, the Federal Government, which had not participated in the proceedings, indicated its interest to file its defence in the suit. Olu-Adegboruwa is, through the suit, challenging the construction and imposition of to...

The first person to answer correctly, gets  a recharge card free. This Week Fastest Finger Question: 25/11/2013 - What is the full meaning of NIESV?

Days of speculation over a proposal to construct 600,000 housing units for Nigerian workers, pioneered by the Nigeria Labour Congress (NLC) and Kriston Lally EPC Nigeria Limited with a foreign partner, Kriston Lally Enterprises Atti-kat, are now over, as the construction of the project will take off in less than four weeks from today. The housing project, prompted by a need to provide affordable houses for Nigerian workers and valued at N960 billion, was said to have received the backing of President Goodluck Jonathan, who will perform the sod-turning of the scheme. Determined to ensure the commencement of the project, President and staffers of NLC recently visited their foreign partners and funder in Athens, Greece, where the partners concluded on the agreement, which included how the funds and technical know-how as well as materials would be moved to Nigeria for the commencement of the project. Earlier, NLC had signed a N960 billion ($6 billion) partnership with a private pr...

The Lagos State Waste Management Authority has introduced mini, pay-as-you-drop waste garbage disposal trucks to cater for areas with poor road network, where the bigger PSP vehicles cannot penetrate. About 100 of the TATA mini garbage trucks were handed over to PSP operators in the state to improve waste collection. The Managing Director of LAWMA, Mr. Ola Oresanya, said the mini garbage disposal trucks would replace truck pushers that had been banned in the state. “We listened to the people’s complaint that PSP operators were not getting to their areas, so the governor approved the use of these smaller vehicles. These smaller trucks are replacing the truck pushers. We will do pay-as-you- drop, we have tried it in some areas and it worked,” he said. Oresanya added that the development signalled the value that the state government placed on public hygiene and the need to prevent truck pushers from clogging the drainages and waterways with solid wastes. “We want the ...

A PRIVATE developer, Messrs Common Sense Estate Limited has decided to add to the nation’s housing stock with the introduction of a residential estate known as “Signature Estate”, located within the fast growing neighborhood in Ikorodu, Lagos State. When completed, Signature Estate, also known as Dream City will provide affording homes of 100 housing units.  It will be a mixed development of both residential and commercial. Occupying a 70 acres land, it comes in one, two and three bedroom bungalow in detached, semi-detached and terraced plan with the first phase now fully completed.  Specifically located along Igborufu Road, Abule Imagbon, Ita Oluwo, off Ikorodu/Ishagamu Road, the estate is 11 kilometres from the Ikorodu roundabout to the Ita Oluwo junction and 7 kilometres from the junction to the estate.  Facilities and features available include full perimeters fence, motor-able road network, power supply, with dedicated transformer, 24-hour water supply, qual...

Consumers have continued to groan about poor power supply after the takeover of the assets of the defunct Power Holding Company of Nigeria by private investors. The situation has been exacerbated with the suspension of the Credited Advance Payment for Metering Implementation initiated by the Nigerian Electricity Regulatory Commission to close the metering gap and curb ‘crazy billing’ in the system. It was learnt on Thursday that of the 10 distribution companies in the country, only Ikeja and Eko electricity distribution companies had adopted the CAPMI scheme as a response to customers’ complaints about estimated billing. While the other Discos have yet to adopt the metering scheme, indications emerged on Thursday that the new owners of the Ikeja Electricity Distribution Company, NEDC/Kepco Consortium, had suspended the pre-paid meter scheme. The scheme had been inaugurated a week before the company was handed over to NEDC/Kepco in a partnership with six l...

As part of efforts to bring infrastructure development to Yobe State, His Excellency Governor Ibrahim Gaidam would be addressing infrastructure investors at the UK Infrastructure Investors Summit, taking place at the prestigious London Stock exchange on the 3rd of December, 2013. His Excellency Governor Ibrahim Gaidam will be presenting papers with the theme “YOBE STATE REOPENING FOR BUSINESS”. The presentation will highlight investments opportunities in Infrastructure, Renewable Energy, ICT, Solid Minerals and Agriculture in the state. The UK Infrastructure Investors Summit is part of the UK Infrastructure Conference and Expo (UKICE) organised annually and is a private gathering of world leading infrastructure primary investors to discuss market transformation at the top end of the infrastructure investment sector as well as where to invest in the capital structure. (UKICE) is a two day international event and the largest infrastructure conference in the UK both ...

More incentives to drive the real estate sector in the country, especially in densely populated Lagos, were unveiled at the weekend by the federal and state governments. And owing to deficits in the housing sector of the Nigerian economy, construction giants, China Civil Engineering and Construction Corporation (CCECC), has diversified into investment in the property industry of the country. The incentives were outlined by the Minister of Industry, Trade and Investment, Dr. Olusegun Aganga, and Governor Babatunde Raji Fashola at the commissioning of Emperor Estate in Sangotedo on the Lekki-Epe Expressway, Lagos, developed by CCECC. Commissioning the project, Aganga urged CCECC and other companies to explore more investment opportunities in Nigeria.   According to him, “opportunities abound in the different sectors of the economy; the incentives are good and the case for investing is compelling.” Aganga, who commended the CCECC team for the project, said t...

The Lagos State Government  announced the award of a contract for the extension of the light rail (blue line) that would start from the National Theatre, Iganmu and  terminate at Marina. Managing Director, Lagos Metropolitan Area Transport Authority (LAMATA), Dr. Dayo Mobereola, told journalists yesterday in Lagos, that the Governor, Mr.  Babatunde Fashola (SAN), had awarded the contract to the China Civil Engineering Construction Corporation (CCECC). He described the light rail project as the first in the country, adding that it “is one project that cannot be completed at once as people expected. Nowhere in the world is a metro line project started and completed at once." “All over the world, the light rail system is done in phases and that is one idea we have copied in this regard. For instance, it took 22 years to complete one line in New Delhi. It also took 18 years to complete the one in Jakarta. Even in Dubai, it took the UAE eight years to complete it and it...

As part of the efforts to ensure the successful implementation of the road management policy, the Federal Government is to adopt the South African model of tolled road management. The Managing Director, Infrastructure Bank, Mr. Adekunle Oyinloye, stated this in Abuja at the opening ceremony of a training programme on tolled roads and road management. Oyinloye said the bank was collaborating with the Development Bank of South Africa in organising a two-day training for stakeholders in the road sector. According to him, South Africa has been engaged in the road management for the past 20 years and it is good for Nigeria to learn from its experience. Oyinloye said the workshop, tagged, ‘Tolled roads and  road management:  A sustainable approach’, was aimed at bringing the stakeholders in the sector together for a common goal. He said this would enable them have a clear and common understanding of issues and the dynamics surrounding financing,...