Connect with us


BIG STORY

Tinubu Flags Off Construction Of Lagos-Calabar Coastal Highway, Says Project Will Boost 30million Businesses

Published

on

Nigeria’s President, Asiwaju Bola Ahmed Tinubu, has said the Lagos-Calabar Coastal Highway will give 30 million people improved access to production and marketing centres.

Tinubu made this known in his remarks on Sunday in Lagos during the flag-off of the 700km Lagos-Calabar highway project and several others to commemorate his first year in office.

He said, “On the next 10 benefits of the Lagos-Calabar coastal highway; during the period of construction, the road will provide direct employment for thousands of people, and indirect employment for tens of thousands of politicians and more. Economic opportunity for millions is being opened.

“It will fast-track the community’s development, It will bring development closer to the people, and give 30 million people improved access to production and marketing centres. You can easily predict a journey, vertically and go along the horizontal line and do the definition of free movement of people.”

In March, the Federal Government started constructing the highway, designed to extend through nine states with two spurs leading to the northern states.

The project, which necessitated the demolition of some buildings, faced significant criticism and interrogation from Nigerians and the National Assembly who believed the timing was inappropriate.

Last Thursday, the Minister of Works, David Umahi, disclosed that 750 houses that are on the path of the Lagos-Calabal coast highway have been marked for demolition.

Umahi had earlier announced an N2.75bn in compensation to property owners affected by the proposed demolition spanning from channel 0 to channel 3 on the mega highway.

However, relevant stakeholders have voiced complaints, arguing that the compensation did not match the investment made.

Responding to the criticism on Sunday, the president further appealed for the understanding of the general public, particularly those whose properties and means of livelihood would be affected by this landmark project.

He appealed, “I further crave the understanding of the general public, especially those whose properties and sources of livelihood will be impacted by this iconic project. We all make some sacrifices to enable our country to grow.

“However, be rest assured that this government is a compassionate government that cares for you and will do the utmost to offer succour, by way of compensation.”

He described the Lagos-Calabar Coastal Highway as a symbol of hope, unity, and prosperity for Nigerians.

He said “This project is more than just a road – it is a symbol of hope, unity, and prosperity. It will connect our communities in nine states, foster trade and commerce, boost tourism, and create new opportunities for generations to come.

“A similar road in Ireland, called the Wild Atlantic Way, 2,600km long is expected to fetch 3bn euros a year in tourism revenues.

“I want to express my gratitude to the team of engineers, workers, and stakeholders who have worked tirelessly to bring us to this point. Your dedication and expertise are the driving force behind the take-off of this project.”

Tinubu emphasised the significance of safety, sustainability, and social responsibility, urging stakeholders to collaborate to ensure that this project benefits all and leaves a lasting legacy for future generations.

He stated “This is not only a legacy project of this administration but a dream come true that will connect some neglected towns and cities along the coastal route. Over time it has been noticed that both Tin Can Island and Apapa ports are becoming shallower thereby limiting the size of ships that can berth at those strategic ports.

“It is pertinent to note that the Lagos State Government in partnership with private investors developed Lekki Deep Sea Port which does not have a link road. It is however obvious that this development will open up businesses and investment along the project corridor.

“The potential of this road is enormous because it will have two spurs which will link up with Sokoto – Badagry Expressway which is under procurement and African Trade Route which connects South East to Cameroon thereby connecting every region of the country.”

Commending the Minister of Works, David Umahi, he noted that the government was waiting on private investors to bring their funds.

He stated “It is worthy to state that the model of EPC+F( Engineering, Procurement, and Construction Plus Finance) which the ministry is adopting is commendable. This sees the Federal Government investing while waiting for private investors to bring on board their counterpart funds.

“I commend the Honourable Minister of Works and the staff of the Ministry who are ensuring that the contractor delivers good quality work.”

Tinubu asserted that the 10-lane road project represented a crucial step in the government’s efforts to enhance connectivity, facilitate economic growth, and improve the quality of life for our people.

He added, “The project is more than a mere road, it is a symbol of hope, unity, and prosperity. It will connect our communities in nine states, foster trade and commerce, boost tourism, and create new opportunities for generations to come.

“To the glory of God and benefit of our people, it is my greatest pleasure to flag off this project and also virtually flag off the spurs about to be procured.

“I also flag off the massive rehabilitation of 330 roads and bridges across the nation. Let the construction begin.”

While commending the dignitaries, Tinubu said everyone wanted a good highway, but no one wanted the government to go through their backyard.

He said, “Everybody, they say, wants a good highway, but nobody wants you to go through their backyard.

“I thank you tremendously, the Chairman of HiTech, Gilbert Chagoury, and my partner, Engineer Roland. We walk together to take the Atlantic and turn a disaster into an asset of great value together.

“We lost weight, we took abuse, but we tamed the Atlantic, we achieved our goals. Here again, we are in it together, thank you, Roland, for being who you are.

‘A particular stakeholder, responsible corporate leader, Aliko Dangote, thank you for understanding your field and investment in Africa, and your incapacity to navigate the stormy water business. Yes, Nigeria is going through a patch, but we depend on you to continue doing this, so that other people will emulate and copy your example, thank you, Aliko.”

He said today was a brag day for him as the dream was fearlessly set on a journey determined to build a nation on prosperity and embark on bold endeavours.

“The dream is fearless-able, set on a journey, determined to build a nation of prosperity, embark on bold endeavours so that your country can be successful. Generations yet unborn can have a good landmark, a memory to treasure, and good understanding to copy, and a good education to promote the other generations.

“We said, we would do this road, and we are determined to do it. The way we are going, we have the rule that will outlast us, and have lived all of us here present, that is how to build the future.”

The 10-lane coastal road is intended to link Lagos to Cross River, passing through Ogun, Ondo, Delta, Bayelsa, Rivers, and Akwa Ibom states before ending in Cross River.

Umahi revealed that the road would be built using concrete pavement.

The government also established a committee tasked with the responsibilities of reviewing, assessing, and compensating landowners affected by the construction of the Lagos-Calabar Coastal Expressway.

Umahi said that the committee, comprising members drawn from the ministry, Lagos State, affected communities, and other stakeholders, had primary responsibilities that included verifying the eligibility of claimants, assessing the dimensions of affected properties, and determining the appropriate compensation amounts.

 

Credit: The Punch

BIG STORY

Is Pan African Towers Up For Grabs? Nigeria’s Telecom Star Faces Sale Rumours

Published

on

Whispers are rippling through Nigeria’s telecom scene: Pan African Towers (PAT), the homegrown heavyweight that’s been building digital bridges since 2017, might be on the auction block.

Sources close to the deal, speaking off the record to Freelanews, say the company’s private equity owners; Development Partners International (DPI) and Verod Capital, are quietly shopping it around, looking to cash in on PAT’s clout in a market desperate for more cell towers.

The buzz comes hot on the heels of a failed joint venture bid with Eastcastle Infrastructure earlier this year and a bold management buyout in November 2023 that saw DPI and Verod scoop up a 99% stake (DPI with 67%, Verod with 32%) through PAT Holdings Limited.

Word on the street is the deal could peg PAT’s value in the hundreds of millions, given its nearly 1,000 towers dotting Nigeria.

“They’re feeling out buyers for a clean exit,” one top executive close to the deal spilled. “It could sell to the highest bidder if the right offer is on the table.”

Nigeria’s telecom sector is a pressure cooker, needing 70,000 to 80,000 more towers to roll out 4G and 5G properly, according to the Ministry of Communications and Digital Economy.

PAT, born in 2017 as a scrappy Nigerian answer to global giants like IHS Towers and American Tower Corporation, has been a standout, leasing space to heavyweights like MTN, Airtel, and Glo.

In eight years, it’s racked up over 1,200 tenants through savvy colocation deals, riding the wave of Nigeria’s data-hungry consumers.

Earlier this year, PAT reportedly cozied up to Eastcastle Infrastructure, a pan-African player backed by the International Finance Corporation and African Infrastructure Investment Managers.

The plan? A joint venture to crank out more towers. But talks fizzled; some say over price tags, others point to clashing visions and process misalignments. Neither side is talking, leaving the rumor mill to churn.

Rewind to November 2023, when DPI and Verod’s buyout was the talk of the town.

Enter India’s Indus Towers, the world’s third-biggest tower operator with over 251,000 sites, which just threw its hat in the African ring this September.

Backed by Bharti Airtel; a major PAT client, Indus is eyeing Nigeria, Uganda, and Zambia.

“PAT’s been a steady player since 2017; it’s a perfect springboard for Indus,” a telecom insider told Freelanews.

When reached for comment, PAT, DPI, and Verod stayed mum. A Verod rep doubled down on their “commitment to Africa’s infrastructure,” but the silence speaks volumes.

With mobile data use set to skyrocket fourfold by 2030, PAT’s next move, whether it’s a blockbuster sale, a new alliance, or going it alone, could reshape Nigeria’s digital future.

Continue Reading

BIG STORY

DecemberIssaVybe: How FirstBank Made Yuletide The Season Of Music, Memories And Magic — By Bolaji Israel

Published

on

Every December in Nigeria is a whole mood. The harmattan breeze and the Christmas themed red and white decorations all over the cities and towns; the cousins returning from the UK, US and Europe with “I just came back” stamped on their accents — and of course, the unmissable lineup of street carnivals, concerts, plays, and festivals that keep Lagos, Abuja, Warri and Port Harcourt buzzing deep into the New Year. Since its launch, FirstBank’s “DecemberIssaVybe” (DIAV) campaign has stood at the centre of this cultural energy, giving Nigerians more than just access to premium entertainment — it’s been about creating awesome shared moments, uniting families, and giving the creative industry the big boost it deserves.

For almost a decade, DIAV has quietly shaped the last few months of the year especially December as the season of vibe, through its First@arts initiative, and if you’ve ever danced shoulder-to-shoulder with thousands at a FirstBank-sponsored event, you’ll know exactly what that means.

2018: When the Vybe Began

December 2018 felt different. Nigerians were beginning to embrace “Detty December” as a tradition, and FirstBank cleverly caught the wave. The bank rolled out DecemberIssaVybe with free and discounted tickets to mega concerts and stage plays, pulling crowds that wanted premium vibes without premium stress. Wizkid, Davido, Burna Boy were headlining the big music festivals, while stage productions like “Moremi the Musical” got a new audience thanks to FirstBank’s push.

For the over 130-year-old FirstBank, “DecemberIssaVybe is a way of giving back during the festive season. It’s not just about music or theatre; it’s about connecting people, supporting the creative industry, and ensuring families make memories together.

Families who hadn’t been to the theatre in years found themselves seated side by side at Terra Kulture, watching Nigerian history come alive on stage. And for diaspora kids back home with “I just came back” energy? DIAV became their shortcut into Nigeria’s hottest events.

2019: The Year of Mega Concerts

By 2019, the Vybe was unstoppable. DecemberIssaVybe became synonymous with front-row seats at Davido’s “A Good Time” concerts, Kizz Daniel’s explosive Lagos show, and of course, the unforgettable Wizkid Starboy Fest. But it wasn’t just music. DIAV sponsored families into “Mad About You”, a romantic stage play that had couples rediscovering love, and rolled out tickets to AY Live Comedy Show, proving that December isn’t just about music — it’s about laughter too. By year’s end, DIAV had cemented itself as a December passport.

2020: The Pandemic Pause

2020 was strange for everyone. COVID-19 clipped the wings of live entertainment. But even then, FirstBank didn’t fold its arms. DIAV adapted by sponsoring virtual concerts and livestreamed plays, ensuring families could still bond over art and entertainment from the safety of their homes. It wasn’t the usual sweaty concert hall, but for many, DecemberIssaVybe campaign was proof that even in tough times, music and theatre are powerful connectors.

2021: The Big Comeback

With restrictions easing, Nigerians were desperate for a proper December. DIAV answered in full colour. Imagine a December where Adekunle Gold (AG Baby) sang his heart out at sold-out shows, Simi serenaded lovers, and Fireboy lit up the stage with “Peru” before it became an international anthem.

Families returned to KAKADU the Musical, friends reunited at comedy festivals, and for diasporans who hadn’t been home since 2019, the Vybe was a welcome mat rolled out in sound and laughter.

2022: The Golden Year

By 2022, DIAV wasn’t just an add-on to December, it was the main dish. That year, Asake’s breakout concerts shook Lagos, Burna Boy’s Love, Damini show was an electric storm, and the theatre scene — from The King Must Dance Naked to Awo The Musical — had DIAV stamping tickets for culture lovers.

2023: A Night of Queens

DecemberIssaVybe 2023 brought something fresh to the table with “A Night of Queens”, an all-female musical showcase at Eko Convention Centre. It was a dazzling lineup: Tiwa Savage, Simi, Teni, Yemi Alade, Waje, Niniola and Dope Ceaser all shared the stage in one unforgettable night of music.

FirstBank also sponsored the revival of Kakadu the Musical at MUSON Centre — a play that blends highlife, Afrobeat, soul and pop with the turbulent history of 1960s Nigeria. Meanwhile, families trooped out for Ali Baba’s January 1st concert and Basketmouth Unprovoked, while diaspora returnees shared DIAV tickets proudly on Instagram.

2024: From Comedy to Culture

Last December opened with a bang: Kenny Blaq’s Reckless Musicomedy Festival at Onikan Stadium. The crowd roared as Kenny Blaq, DJ Neptune, Aproko, MC Monica, and OvyGodwin delivered a high-energy mix of music and stand-up.

At the same time, FirstBank sponsored Motherland the Musical, Street Souk at Harbour Point, A True Christmas Story, and family-friendly events like Eko Hotel Pride Land Adventures and the Calabar Carnival Festival.

Reflecting on the season, Olayinka Ijabiyi, Acting Group Head, Marketing and Corporate Communications said: “FirstBank is facilitating memorable homecoming and unforgettable experiences in December with family reunions, concerts and festivals. DecemberIssaVybe isn’t just about entertainment — it’s about the cultural glue for Nigerians everywhere.

Across the years, DIAV has done more than hand out tickets. It has fuelled the creative economy by investing in theatre, comedy, and music. Families and friends have been reunited, turning concerts into bonding sessions. Given the diaspora a homecoming anchor, it has blended the “I just came back” energy with Nigerian hospitality.

In a country where December is both the busiest and most joyful month, DIAV has positioned FirstBank not just as a financial giant, but as a lifestyle brand that understands culture.

2025: The Vybe Is Loading

Now here we are, on the cusp of another December. Whispers are already flying: who will headline the 2025 DecemberIssaVybe experience? Will it be another electrifying Davido Timeless Experience? Will Asake shut down Lagos again? Will Burna Boy, Rema, Tems, or Ayra Starr bring home the global magic? Or will DIAV surprise everyone with a mix of music legends and fresh new voices?

What’s certain is that FirstBank will once again hold the keys to the hottest tickets in town — concerts, fashion, culture, musicals, plays, comedy shows — all to be rolled out on their social media handles, where lucky fans can get premium access.

So, whether you are keeping it real in Naija or you are planning to visit, DecemberIssaVybe 2025 is coming, and FirstBank is about to make it unforgettable.

Continue Reading

BIG STORY

JUST IN: Dangote’s CNG Trucks Begin Product Loading At Refinery

Published

on

Dangote Refinery’s fleet of newly acquired Compressed Natural Gas (CNG) trucks has officially kicked off product loading at its facility in Lagos.

On Monday, the trucks began taking turns at the gantry to load petroleum products for direct supply to filling stations across Nigeria.

The move follows the refinery’s August announcement that it had received the first batch of its 4,000 CNG-powered trucks—part of a fuel distribution programme valued at over ₦720 billion.

During a courtesy visit by the AfricaRice Centre on Sunday, Aliko Dangote explained that the direct distribution system was designed to reduce dependence on third-party carriers and cut out unnecessary costs.

“Losing ₦75 per litre to intermediaries who cannot guarantee delivery is not a viable option. We are committed to ensuring petroleum products get to Nigerians transparently and affordably,” the refinery said in a statement.

This rollout comes amid recent criticism from the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), who accused Dangote Refinery of offering cheaper rates to international buyers while quoting higher prices to local offtakers. Dangote has denied this, stressing that bypassing costly Single Point Mooring (SPM) systems will save the economy about ₦1.5 trillion annually.

Beyond costs, the 4,000 CNG trucks project aims to:

  • Lower logistics expenses in fuel distribution
  • Cut environmental impact compared to diesel trucking
  • Support over 42 million MSMEs by reducing energy costs

With this launch, the refinery is positioning itself not just as a supplier, but also as a distributor—reshaping how fuel reaches Nigerian consumers.

Continue Reading


 

 


 

 

 

Join Us On Facebook

Most Popular