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MAN Seeks FG’s Intervention, As Diesel Hits N720 Per Liter

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The Manufacturers Association of Nigeria (MAN), is seeking urgent intervention from the Federal Government to support the production of goods, as diesel price hits N720 per liter.

Lanre Popoola, the Chairman, Manufacturers Association of Nigeria (MAN), Oyo, Osun, Ekiti, and Ondo branches, stated this in Ibadan on Sunday, while speaking on the increase of prices of petroleum products and lack of power supply.

“It is a difficult thing ensuring production at this time, as diesel has gone up to N720 and N730 per liter.

“It is getting extremely difficult to produce and I don’t know how we are going to cope because 70 percent of industries are running on diesel, there is no light.

“There is no power supply, we are having 30 percent of what it used to be, whereas the disposable income of people is not increasing and the cost of products are going up.

“Even in my factory now, we are only running one shift instead of three shifts of eight hours each.

“Other businesses are also running limited hours on diesel as they cannot afford to use generators all day,” Mr. Popoola added.

The chairman noted that, if the situation persisted, it could lead to bigger issues that would further affect the nation’s economy and increase the hardship of Nigerians.

“The worst part is that diesel suppliers cannot agree for organizations to make a flexible payment plan such as installments, while they deliver the products in trust.

“They cannot again supply you with diesel and allow you to pay in two weeks. It is either you do cash and carry, or pay ahead because they too cannot predict the cost of the product.

“And I don’t blame them, imagine you bought diesel last week at N630 per liter and the next day it is sold for N730 per liter, how will you replace your stock,” he said.

Mr. Popoola stated that the way forward was for the government to come in and assist manufacturers, by giving some rebate on diesel, adding that, that was the only lifeline.

“Aside from manufacturers, for transporters that are bringing food from the North or taking products to the East or Lagos, now the cost of their logistics would have doubled by 100 percent if not 200 percent.

“Maybe the government can come in and do a kind of palliative for us, it is either we have light 24 hours per week, to run our factories or do a palliative on diesel.

“But unfortunately, we don’t produce diesel in this country, if the refineries are working, it is a different ball game, the country would have had it better now if the refineries are working.

“So the more the international prices of Petroleum products go up, the higher the prices of what we are going to get from them,” Mr. Popoola said. (NAN)

BIG STORY

Lagos State Government To Concession Red And Blue Line Rails For Sustainability, Loan Repayment

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The Lagos State Government has announced plans to concession the operations of the Red and Blue Line rail systems to the private sector in order to ensure their sustainability and repay loans taken for the rail projects.

This announcement was made by the Lagos State Commissioner for Transportation, Oluwaseun Osiyemi, during a recent TVC News interview, where he discussed the measures being implemented to ensure the continued viability of the state’s rail systems.

Osiyemi explained that the concessioning process would involve transferring the operations of the rail systems to private sector players for a defined period. This approach is intended to ensure the continued operation and effective management of the rail projects.

“The ultimate game is for all our rail systems we’ve done—that is, the Red Line and Blue Line—there is going to be some concessionairing with the private sector for a period of time to ensure sustainability and continuity,” he stated.

He added, “The concessioning would help pay back the loans taken for the rail projects.”

The commissioner emphasized that the concessioning strategy aims to ensure efficient operations and long-term financial sustainability, in line with the state’s vision for a world-class transportation network.

  • More Insight

Osiyemi further highlighted the substantial financial and technical challenges involved in operating rail systems, describing them as capital-intensive projects that require significant resources and specialized expertise.

To tackle these challenges and build local capacity, he noted that the Lagos State Government has enlisted foreign partners to temporarily manage the operations of the trains.

These partners are expected to not only ensure smooth operations during their tenure but also transfer critical skills to Nigerian personnel. The plan includes a structured training program lasting one to two years, after which the management of the rail systems will be fully handed over to local operators.

“What we have done is we have consulted foreign partners who, of course, would run these trains for a particular period of time and train our people—that is, transfer of skills.”

“They will train our people for one to two years, then hand over for our own management,” Osiyemi explained.

  • Things You Should Know

The Lagos State Government, under its Lagos Strategic Transport Master Plan, has set out an ambitious vision to develop a network of rail systems across the state.

Currently, only the first phases of the Red Line and Blue Line rail systems have been completed, with passenger services already in operation.

The Blue Line is a 27km electric rail line designed for sustainable operations. Its first phase, covering 13km from Lagos Marina to Mile 2, was completed in 2023 and began commercial operations in September, carrying over 2 million passengers to date.

The Red Line, spanning 37km from Agbado in Ogun State to Oyingbo in Lagos, operates on diesel. Its first phase, a 27km stretch, includes eight strategically located stations: Agbado, Iju, Agege, Ikeja, Oshodi, Mushin, Yaba, and Oyingbo.

The construction of the second phases of both the Red Line and Blue Line rail systems is being managed by the China Civil Engineering Construction Corporation (CCECC), which also oversees the operation of the trains.

Beyond the Red and Blue Lines, the state has plans for additional rail systems, including the 68km Green Line (Lekki Free Trade Zone to Marina), the 85.7km Purple Line (Redemption Camp to Ojo), the 48km Orange Line (Ikeja CBD to Agbowa), and the Yellow Line, all aimed at enhancing the state’s transportation network.

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BIG STORY

Lagos Commissioner Tokunbo Wahab Condoles With Families Of Epe Accident Victims

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Condolence Message from the Honourable Commissioner for Environment and Water Resources, Lagos State, Mr. Tokunbo Wahab.

I am deeply saddened by the tragic incident that occurred in our community, Epe, claiming the lives of two promising young adults, a dedicated tricycle driver, and leaving several other people injured. This heartbreaking accident has left our hearts heavy, as we mourn the loss of these young souls who were full of hope and dreams, and an industrious individual who worked tirelessly for his livelihood.

As a member of this community, I extend my heartfelt condolences to the families and friends affected by this terrible loss. I can only imagine the pain you must feel, and I want you to know that you are not alone in this moment of grief.

Let us honor the memories of these individuals by advocating for safety and awareness on our roads. As we move forward, may we find comfort in community and strength in one another. May their souls rest in peace, and may their families find solace and healing in the days to come.

Our thoughts and prayers are with you all.

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BIG STORY

JUST IN: Monday Okpebholo Sworn In As Edo State Governor

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Monday Okpebholo, a serving senator, has been sworn in as the governor of Edo State.

Okpebholo took his oath of office at about 1pm on Tuesday during the inauguration ceremony in Benin, the state capital.

As the candidate of the All Progressives Congress (APC), Okpebholo won the September 21 off-cycle governorship election in the state.

He polled 291,667 votes to defeat Asue Ighodalo of the Peoples Democratic Party (PDP), who came second with 247,274 votes.

Olumide Akpata, the candidate of the Labour Party (LP), came third with 22,763 votes.

Dennis Idahosa was also sworn in as the deputy governor of Edo.

Dignitaries, including Vice-President Kashim Shettima, Abdulrahman Abdulrazaq, chair of the governors’ forum; Philip Shaibu, reinstated deputy governor of Edo; and other governors from the party, were present as Okpebholo took the oath of office.

The new governor later rode in an open-top van around the stadium, acknowledging cheers from supporters.

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