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Tinubu Inherits Over N16tn Uncompleted Projects — EYEMARK

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The newly inaugurated President of Nigeria, Asiwaju Bola Ahmed Tinubu, has inherited over N16.29tn uncompleted projects from his predecessor, Muhammadu Buhari.

The projects were identified through the national monitoring and evaluation platform, EYEMARK, which was launched by Buhari in December last year.

The former President noted that the Federal Government could no longer depend on its handful of monitoring and evaluation teams to oversee the vast number of infrastructure projects spread across the country.

He said that given that his regime invested in infrastructure projects more than any other before, it was only fitting to create adequate avenues for close monitoring by citizens.

He said this would close the existing gaps and promote citizens’ participation in governance.

With EYEMARK, the former president said, “The status of projects, the total amount appropriated and dispensed so far are now available in the public space.”

The national monitoring and evaluation platform, EYEMARK, showed that about 33 projects were yet to be completed.

One such project is the Lagos-Ibadan Expressway, which reportedly costs about N315bn. This 126.6-kilometre road is said to be at 85 percent completion.

The Federal Government had again postponed the reopening of the Lagos-Ibadan Expressway, saying the April 30 date earlier stated was no longer feasible.

The former Minister of Works and Housing, Mr. Babatunde Fashola, who dropped the hint, said the development was due to heavy traffic being experienced from the toll gate to the Kara Bridge section of the Lagos-Ibadan Expressway.

The EYEMARK app shows that Julius Berger Nigeria Pls and RCC are the contractors in charge of this project.

Another project is the Bodo-Bonny Road, estimated to cost about N200bn. The 37.9km road being handled by Julius Berger is put at 75 percent completion.

Fashola recently said work on the Bodo-Bonny Road would be completed in December 2023, even as he hailed the continued progress on the work, with or without Buhari in office.

According to him, the funding for the project comes from the Federal Government’s Tax Credit Scheme into which Nigeria’s Liquefied Natural Gas and other big companies, like Dangote and the Nigerian National Petroleum Corporation, are investing.

There is also the Nigeria- Morocco Gas Pipeline estimated at $25bn (about N11.52tn). It is the most expensive yet-to-be-completed project.

The Nigerian National Petroleum Company Limited is leading the implementation of Nigeria’s National Gas Expansion Programme, including the development of domestic gas pipeline infrastructure projects and the Nigeria-Morocco and Trans-Sahara Gas Pipelines.

The NNPC has signed five Memoranda of Understanding with national oil companies and relevant entities of five African countries on the Nigeria-Morocco Gas Pipeline Project. The five national oil companies and relevant entities are from Gambia, Ghana, Guinea, Guinea Bissau, and Sierra Leone.

Another project is the $2.8bn (about N1.29tn) Ajaokuta-Kaduna-Kano pipeline project, which is said to be at 70 percent completion.

The contractors include Oando Plc, Brentex Petroleum Services Ltd, Oilserve Ltd, and China Petroleum Pipeline Bureau.

The former Vice President, Prof. Yemi Osinbajo, recently revealed that the project would help in generating 3.6 gigawatts (3,600 megawatts) of electricity, adding that the AKK pipeline was a major project of the Buhari’s administration.

The NNPC also recently said that $1.1bn had been spent so far on constructing the $2.8bn Ajaokuta-Kaduna-Kano gas pipeline project.

The counterpart funding for the Greater Abuja Water Project, estimated at $470.76m (about N217bn) is still pending.

In July last year, The PUNCH reported that five years after the conceptualisation of the $470m Greeter Abuja Water Project, the Federal Government was yet to release the 20 percent counterpart fund for the execution and delivery of the project as planned.

There is also the dualization of Akure-Ado Ekiti Road in Ondo/Ekiti states put at N90bn. Fashola last week commissioned the dualisation and construction of the Akure/Iju-Itagbolu/Ado-Ekiti road, which he said would be completed within a spate of 24 months.

He also disclosed that the award and commissioning of the road took so long because of the necessary process required by the new procurement law.

He assured stakeholders that the financing of the project had been taken care of by the NNPC through a tax credit policy and that construction work would not stop till completion.

The Itobe power plant, with a project cost of $5bn (about N2.3tn), is also pending. The 2,400MW coal-fired power project is put at 30 percent completion with the contractor as Eta-Zuma Group.

There is also the renovation of the National Assembly Complex projected to cost about N30.23bn. The Federal Capital Development Authority recently said that the National Assembly complex would not be ready till August, despite pressure for the remodelling of the complex to be completed before the inauguration of the 10th Assembly.

Other projects include the design and construction of the Nigerian Cultural Centre and Millennium Tower (N69.35bn), the full scope development of FCT Highway 105 (Kuje Road) from the airport expressway to the outer Southern Expressway with Spur at Kyami District (N54.95bn), and the construction and equipping of hospitals at Gwarimpa Phase I (N3.03bn).

More projects include the construction of Bichi Township Roads (N1.40bn), the construction of Dawakin Tofa-Gwarzo-Dayi Road in Kano (N2bn), and the 5.4 kilometres Abuja- Keffi expressway and the dualisation of the 220 kilometres Keffi- Akwanga-Lafia- Makurdi federal roads in the North-Central geo-political zone of the country (N166.36bn).

Speaking at the APC South-East grand finale rally in Owerri, the new President, Tinubu, in February promised to continue with Buhari’s developmental programmes.

He said that Buhari’s eight-year reign was a retooling process, adding that he would invest in education, build infrastructure and be prudent should he be elected as the next president.

He said, “PDP stole Nigeria’s treasure. President Buhari’s eight years is a retooling process. PDP are liars. We will continue with developmental programmes of APC, it will not stop.”

 

Credit: The Punch

BIG STORY

NCC Unveils Initiative To Combat Fraud, Spam Messaging

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The Nigerian Communications Commission has unveiled a draft regulatory framework aimed at addressing fraud, spam, and other challenges in the “Application-to-Person” messaging sector.

The telecom regulator made this announcement in a statement on Friday.

The proposed framework was introduced during a virtual Stakeholders’ Forum, a key step towards enhancing the sector’s integrity and ensuring a fair, transparent environment for all parties involved.

The draft framework, presented by the acting Head of Legal and Regulatory Services at the NCC, Mrs. Chizua Whyte, on behalf of the Executive Vice Chairman, Dr. Aminu Maida, seeks to regulate the A2P messaging space.

A2P messaging, used for notifications such as bank alerts, promotional campaigns, and government updates, has become a vital communication tool in Nigeria.

However, the sector faces significant challenges, including consumer protection concerns, fraud, and data privacy issues, as well as an unequal distribution of value within the ecosystem.

“The international A2P messaging space in Nigeria faces gaps that have led to issues such as fraud, spam, and data privacy concerns. These challenges threaten the sustainable growth of this communication tool,” the NCC said.

The regulator emphasised its commitment to fostering innovation while ensuring a secure, transparent environment for businesses, consumers, and service providers.

The proposed framework aims to address these challenges by protecting consumers, promoting fair competition, and holding service providers accountable.

“This forum marks a pivotal step towards addressing these challenges,” the NCC said. “We are here to engage with all stakeholders—operators, aggregators, businesses, service providers, and consumers—to refine the framework and ensure it meets the needs of the entire ecosystem.”

The NCC stressed the importance of inclusivity and collaboration in creating an effective regulatory environment.

The commission’s efforts are focused on promoting a sustainable A2P messaging ecosystem that enables business innovation, enhances communication efficiency, and supports Nigeria’s socio-economic growth.

Stakeholders were encouraged to provide feedback and contribute ideas during the forum to help shape the final framework.

The NCC reiterated its commitment to creating a regulatory environment that supports innovation while safeguarding the interests of all stakeholders in the A2P messaging sector.

For further updates, the NCC urged stakeholders to remain engaged throughout the regulatory process, stressing the importance of cooperation in shaping the future of A2P messaging in Nigeria.

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BIG STORY

JUST IN: Oil Marketers Reduce Petrol Price By 11.8% To N939.50 Per Litre

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Oil marketers sourcing “Premium Motor Spirit”, “PMS”, also known as petrol, from the Dangote Petroleum Refinery have reduced the price by 11.8 percent to N939.50 per litre, down from N1,060 per litre.

As of Thursday, December 19, petrol was still being sold at N1,060 per litre in Lagos and surrounding areas.

However, by Friday, MRS, a leading marketer, along with others, had adjusted their prices, now selling at N939.50 per litre.

It’s worth noting that the Dangote Petroleum Refinery had earlier lowered the ex-pump price of petrol to N899.50 per litre, down from N970 per litre.

According to the refinery, this price reduction is intended to offer much-needed relief to Nigerians ahead of the holiday season.

Anthony Chiejina, the Chief Branding and Communications Officer of Dangote Group, made this announcement.

“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on “PMS” (“petrol”). From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM,” Chiejina said.

‘‘Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.”

 

More to come…

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BIG STORY

EFCC Allocates N18bn For Allowances, N5bn For Travels In Proposed 2025 Budget

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The Economic and Financial Crimes Commission (EFCC) has announced plans to allocate N18 billion for allowances in 2025.

This figure is part of the proposed 2025 budget currently under consideration and awaiting approval by the national assembly.

As per the appropriation bill, the EFCC’s total budget for 2025 stands at approximately N62.2 billion.

This budget includes personnel costs (N38.6 billion), overheads (N20.9 billion), and capital expenditure (N2.2 billion).

Within the allowance budget, N1.7 billion is designated for “non-regular allowances,” while “regular allowances” are set at N16.7 billion.

Other proposed expenditures for the EFCC include welfare packages (N1.4 billion), fuel and lubricants (N2 billion), financial charges (N1.2 billion), construction and provision of office buildings (N1.1 billion), and maintenance services (N2.1 billion).

The EFCC also plans to allocate N4.9 billion for “local travel and transport,” with “international travel and transport” expected to cost N1.7 billion.

The proposed budget includes N800 million for the purchase of fixed assets.

On Wednesday, President Bola Tinubu unveiled the N49.7 trillion 2025 “Budget of Restoration: Securing Peace and Rebuilding Prosperity.”

In his address to the national assembly, Tinubu stated that it was time “we rewrite Nigeria’s narrative together.”

The primary focus of next year’s budget will be the defence, infrastructure, health, and education sectors.

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