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FG to Introduce Speed Cameras on Nigeria’s Roads

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  • FG to Introduce Speed Cameras on Nigeria’s Roads

The federal government has disclosed it will introduce speed cameras on Nigeria’s roads to help the Federal Road Safety Commission (FRSC) curtail excessive speeding by motorists and improve safe use of the roads.

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, said this yesterday after he inspected ongoing repair works on the different sections of the Abuja-Kaduna Expressway ahead of the planned closure of the Nnamdi Azikiwe International Airport, Abuja and diversion of air traffic to the Kaduna Airport.

Fashola also explained that repair works on the road has recorded some impressive progress with 130 out of its 160 kilometres already covered.

Fashola said in a statement from his senior special adviser on communications, Mr. Hakeem Bello in Abuja, that he saw an accident that occurred a day before his visit, and that most accidents on Nigerian roads were not necessarily from failed road networks but from irresponsible use of the roads by drivers who he alleged were less qualified to drive on the roads.

He noted that his ministry would support the FRSC to improve safe use of Nigerian roads, and advocated for the retraining for drivers.

The FRSC, he stated, has continued to address the problem in terms of education, enlightenment and the introduction of speed limiting devices but that his ministry would further their efforts in the short to medium terms by introducing some speed cameras to deter people from excessive speeding.

“I think that it is fair to say that not many people who manage vehicles on our roads are actually trained to manage vehicles on the roads; many people are auxiliary drivers for want of something better to do. There are rules in the operation and utilisation of automobiles,” said Fashola.

The minister also said that it was the job of the government to ensure safe use of roads and that it was not going to give it up.

On the outcome of his inspection, Fashola said the work on the road was an emergency repair and not a reconstruction which he said would come later after an ongoing procurement exercise on it is concluded.

According to him, the repair works would essentially remove the potholes and reduce the risk of accidents.

“The work that is being done here, you must understand this is a road of more than 160 kilometres. We are at kilometre 130 from Abuja. So, the work that is being done as I said is an emergency intervention essentially to remove the dangerous potholes and eliminate potential hazards that could cause accidents for motorists on this road.

“So, the road needs to be rebuilt because it has been subjected to a lot of axle load. But what we are doing right now is emergency repairs to remove the potholes to make the road safe for commuters ahead of the planned reconstruction and repair of the Abuja Airport runway which will lead to a diversion of air traffic and passengers from Abuja to Kaduna which will start on the 8th of March,” he said.

He added that the role of his ministry was to make the road motorable and safe for commuters, and that it would be delivered on time for use.

“You can see that some sections have been resurfaced completely but that is not the main reconstruction of the road; let us be clear about what is happening here.

“The whole purpose of this contract is to cover the potholes on the 160 kilometres road two lanes on one side and two lanes on the other side; so that is really to cover 620 kilometres of potholes; that is a contract for N1 billion.

“So, let’s be clear about that. This is emergency short term. When the Bureau for Public Procurement (BPP) gives the no objection contract, we will start when the airport runway would have been completed,” he stated.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Ukraine Strikes Russian Fuel Depot, Sparking Fires in Belgorod Region

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The governor of Russia’s southern Belgorod region said on Sunday Ukrainian forces attacked a fuel depot, triggering a series of fires after Moscow and Kyiv accused each other of launching overnight attacks on border regions.

“The Ukrainian military, aided by lethal drones, attacked a fuel storage site in Volokonovsky district,” Vyacheslav Gladkov wrote on Telegram, referring to an area near the border.

“Several reservoirs caught fire in an explosion. Firefighting crews are putting out the blaze.”

Gladkov also reported drone attacks on three other localities. There were no casualties reported in the incidents.

In the overnight air attacks, Ukrainian officials said two people died and four were injured in Sumy region. Gladkov reported three civilians were injured in Belgorod.

Two children were among those injured in Sumy, the military administration of the northeastern Ukrainian region said on Sunday on Telegram. Several homes and cars were damaged.

In Belgorod region, three civilians, including two children, were injured. Gladkov said two residential buildings were destroyed and more than 15 buildings in total were damaged.

The Russian defence ministry said it had destroyed one drone over Belgorod region and another over Kursk region, where Ukrainian forces launched a cross-border incursion last month. It said two drones were intercepted over Belgorod overnight.

Border regions on both sides have been subject to frequent attacks. Both Moscow and Kyiv deny targeting civilians, saying the attacks are aimed at destroying each other’s infrastructure critical to war efforts.

Thousands of civilians have died in the war, which Russia started with a full-scale invasion on Ukraine in February 2022. Millions of Ukrainians have also been displaced, while their cities and villages have become piles of rubble

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Ghana Ordered to Pay $111.5M to Power Company After U.S. Court Ruling

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The government of Ghana has been ordered to pay $111.5 million to Ghana Power Generation Company (GPGC) following a ruling by a District of Columbia Court in the United States.

This ruling was granted in favor of GPGC after Ghana failed to respond to an earlier tribunal ruling from the United Kingdom, which found the country in breach of a power purchase agreement.

The court’s decision comes after Ghana terminated its contract with GPGC on February 18, 2018. The UK tribunal, in its final award dated January 26, 2021, found that Ghana had violated its contractual obligations, resulting in significant financial damages for GPGC.

The tribunal initially awarded GPGC $134.3 million in damages, calculated using the Early Termination Payment formula as specified in the purchase agreement.

Ghana, however, did not comply with the tribunal’s verdict, prompting GPGC to pursue the matter in U.S. courts. On January 19, 2024, GPGC filed a lawsuit in the District of Columbia, citing the Federal Arbitration Act and the New York Convention, which provides for the recognition of international arbitration awards.

Court documents reveal that the petition was formally delivered to Ghana’s Ministry of Foreign Affairs and Regional Integration on January 23, 2024.

Despite receiving the legal documents, Ghana failed to respond to the court proceedings by the March 29, 2024, deadline. This non-response led the U.S. court to grant a default judgment in favor of GPGC.

Chief Judge James E. Boasberg emphasized that the arbitral judgment fell under the New York Convention, which requires member states, including the United States, to recognize and enforce international arbitration awards.

He further noted that Ghana had voluntarily submitted to international arbitration when entering the power purchase agreement, waiving its sovereign immunity in the process.

Although GPGC was not awarded pre-judgment interest, Ghana will be obligated to pay post-judgment interest at rates set by U.S. law.

This adds an additional financial burden to the $111.5 million judgment as the payment accrues further interest over time.

The country narrowly avoided a separate $11 billion arbitration award in the infamous P&ID case, which was eventually overturned due to findings of corruption and bribery.

However, in the GPGC case, multiple European courts have upheld enforcement orders, leaving Ghana with limited legal recourse.

The court’s decision is expected to place added pressure on Ghana as it faces mounting financial obligations related to international arbitration disputes.

GPGC has indicated that it will pursue all available legal avenues to ensure full recovery of the damages awarded by the tribunal, including possible enforcement actions in other jurisdictions.

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Zhongshang Fucheng Moves to Auction Nigerian Properties in UK Following $70M Arbitration Award

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Bola Tinubu

Zhongshang Fucheng Industrial Investment Ltd has escalated its efforts to collect a $70 million arbitration award from Nigeria by putting two residential properties in Liverpool up for sale.

This significant development follows a 2021 arbitration verdict against Nigeria, which remains unsettled.

The Chinese investment group has reportedly listed two buildings linked to the Nigerian government—15 Aigburth Hall Road and Beech Lodge, 49 Calderstones Road—on the global online marketplace eBay.

The move is part of a broader strategy to recover the outstanding $70 million, which includes a principal amount of $55,675,000, plus interest and legal costs, as stipulated by the arbitration verdict.

The arbitration stemmed from a dispute between Zhongshang Fucheng and Ogun State over a trade treaty violation.

The company claimed that Ogun State rescinded its rights to a free trade zone in 2016, prompting a legal battle that saw Zhongshang’s executives expelled from Nigeria.

The British court granted Zhongshang the authority to seize Nigerian assets in the UK after the Nigerian government failed to settle the arbitration judgment.

The seizure and subsequent auction of these properties mark a pivotal moment in the ongoing legal conflict.

The properties were confiscated because they were not classified as diplomatic or consular assets, making them subject to seizure under the court’s orders.

According to sources familiar with the situation, the properties are valued at approximately $2.2 million.

Zhongshang Fucheng has opted for an online auction to expedite the sale, aiming to reach a broad pool of potential buyers.

The decision to use eBay highlights the company’s commitment to transparency and swift asset recovery.

“This move is not just about recovering the funds; it’s a demonstration of our commitment to enforcing the arbitration award and ensuring that due process is followed,” said a consultant working with Zhongshang Fucheng, who spoke on condition of anonymity.

The Nigerian government, already grappling with similar arbitration cases, is facing increased scrutiny as European courts have granted enforcement orders in several countries, including the UK, Belgium, and France.

The ongoing conflict with Zhongshang Fucheng has intensified pressure on Nigerian authorities to address these legal and financial challenges more effectively.

In June 2024, the UK High Court, King’s Bench Division, ruled in favor of Zhongshang’s right to seize the Liverpool properties.

Master Lisa Sullivan’s ruling emphasized that the properties were used for commercial purposes, thereby excluding them from sovereign immunity protections.

The case against Nigeria underscores broader issues related to international arbitration and asset recovery, reflecting a growing trend of global legal disputes over state assets.

For Zhongshang Fucheng, the auction of the Liverpool properties represents a critical step in securing the funds awarded by the arbitration panel.

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