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New Lagos-Ibadan Rail Project for Completion in 2018 – Osinbajo

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Light Rail
  • New Lagos-Ibadan Rail Project for Completion in 2018

Acting President, Prof. Yemi Osinbajo, on Tuesday said the Federal Government would deliver a fast and efficient rail service between Lagos and Ibadan by December 2018.

Osinbajo, who spoke at the Nigerian Railway Corporation compound in Ebute-Meta, Lagos, during the ground-breaking ceremony, said the project was the segment II of the standard gauge Lagos-Kano rail with extension to the Lagos Port Complex, Apapa.

He said the ceremony marked the commencement of the government’s plan to improve transport links with Lagos, the nation’s economic nerve centre, to other state capitals across the country.

He recalled that President Muhammadu Buhari, during his visit to China in January 2016, had reopened negotiations with the Chinese government for the new Lagos-Kano rail project.

Osinbajo said, “An active and vibrant railway system confers many benefits on the society. Our ultimate goal is to restore a railway culture for both commercial and personal transportation. We are confident that the national rail project will create up to half a million jobs and facilitate the movement of up to 3.2 million tonnes of cargo per annum.

“It will also reduce the burden on national highways, thus reducing deterioration of the road networks and increasing the life span of our roads. Railway network will support efforts to diversify the economy and enhance our export potential. Just as several of our cities became known as railway towns in the past, we expect to boost economic activities within the railway lines that will eventually cut across the entire country.”

The Minister of Transportation, Mr. Rotimi Amaechi, described the event as historic and was optimistic that the project would benefit the people immensely as well as transform the economy of the country.

He said on assumption of office, Buhari had prioritised the completion of rail projects across the country and challenged the ministry to hit the ground running to ensure their timely delivery.

The Lagos State Governor, Akinwunmi Ambode, said that the new Lagos-Ibadan rail would go a long way in opening up the economies of states in the South-West and facilitate regional integration.

“A direct benefit of this project is that containers and goods from the Apapa Port will now be transported by rail, thereby reducing the number of trailers and other heavy duty vehicles on our roads.”

The Chairman, Senate Committee on Land Transport, Gbenga Ashafa, said the new Lagos-Ibadan standard gauge rail project was a fulfilment of the promises of the All Progressives Congress to the electorate.

He called on the faculties of engineering in Nigerian universities to commence the training of rail infrastructure engineers.

The APC National Chairman, Chief John Oyegun, also said, “The rail project is going to professionalise transportation and save the country from constant road repairs. The project will advance the transportation system in the country.”

The construction of the new rail line, awarded to the China Civil Engineering Construction Corporation, is being jointly funded by the Nigerian and Chinese governments at a cost of $1.5bn (about N458bn).

The rail line spanning 156.65 kilometres, according to the Managing Director of NRC, Mr. Fidet Okeria, is a standard gauge double line that will coexist with the old narrow gauge rail line.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Netanyahu Stands Firm as US Halts Bomb Shipment Over Rafah Invasion Warning

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Amidst escalating tensions between Israel and the United States, Israeli Prime Minister Benjamin Netanyahu has adopted a defiant stance following the US decision to halt a shipment of bombs and warned against Israel’s potential invasion of the southern Gaza city of Rafah.

In a bold statement, Netanyahu declared, “If we have to stand alone, we will stand alone,” emphasizing Israel’s resolve to pursue its objectives despite opposition.

The Prime Minister’s comments, delivered via social media and a subsequent interview with American talk show host Dr. Phil, underscore Israel’s determination to address security threats posed by the Gaza Strip, particularly by Hamas militants operating in Rafah.

Netanyahu reiterated the necessity of military action in Rafah to eliminate the remaining Hamas battalions, condemned Hamas’s history of violence and reiterated Israel’s commitment to achieving victory and ensuring the safety of its citizens.

The US administration, led by President Joe Biden, expressed concerns over the potential humanitarian impact of an Israeli invasion of Rafah, prompting the decision to withhold additional offensive weapons shipments to Israel.

Biden’s statement echoed broader international apprehensions about the escalation of violence and civilian casualties in the conflict-stricken region.

However, Netanyahu remained resolute in Israel’s approach, asserting the country’s right to defend itself against security threats. He emphasized Israel’s efforts to minimize civilian casualties and facilitate the evacuation of civilians from Rafah before any military action.

Despite the US’s decision to pause the bomb shipment, Netanyahu affirmed Israel’s commitment to its longstanding alliance with the US. He acknowledged past disagreements between the two nations but expressed optimism about resolving current tensions through dialogue and cooperation.

In response, White House officials reiterated the US’s support for Israel’s security while urging restraint and emphasizing the need to avoid actions that could exacerbate the humanitarian crisis in Gaza.

The administration clarified that the decision to halt the bomb shipment was aimed at preventing potential civilian casualties in Rafah.

The confrontation between Israel and the US underscores the complexity of navigating regional conflicts and balancing strategic interests. As tensions persist, both nations face the challenge of reconciling their respective security imperatives with broader humanitarian concerns, seeking to avert further escalation while addressing the root causes of the conflict in the Middle East.

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EFCC Declares Former Kogi Governor, Yahaya Bello, Wanted Over N80.2 Billion Money Laundering Allegations

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Yahaya Bello

The Economic and Financial Crimes Commission (EFCC) has escalated its pursuit of justice by declaring former Kogi State Governor, Yahaya Bello, wanted over alleged money laundering amounting to N80.2 billion.

In a first-of-its-kind action, the EFCC announced Bello’s wanted status in connection with the alleged embezzlement of funds during his tenure as governor.

The commission, armed with a 19-count criminal charge, accused Bello and his cohorts of conspiring to launder the hefty sum, which was purportedly diverted from state coffers for personal gain.

The declaration of Bello as a wanted fugitive came after a series of failed attempts by the EFCC to effect his arrest.

Despite an ex-parte order from Justice Emeka Nwite of the Federal High Court, Abuja, mandating the EFCC to apprehend and produce Bello in court for arraignment, the former governor managed to evade capture with the reported assistance of his successor, Governor Usman Ododo.

This latest development shows the challenges faced by law enforcement agencies in holding powerful individuals accountable for their actions.

However, it also demonstrates the unwavering commitment of the EFCC to uphold the rule of law and ensure that justice is served, irrespective of the status or influence of the accused.

In response to the EFCC’s declaration, the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, issued a stern warning to Bello, stating that fleeing from the law would not resolve the allegations against him.

Fagbemi urged Bello to honor the EFCC’s invitation and cooperate with the investigation process, saying it is important to uphold the rule of law and respect the authority of law enforcement agencies.

The EFCC’s pursuit of Bello underscores the agency’s mandate to combat corruption and financial crimes, sending a strong message that individuals implicated in corrupt practices will be held accountable for their actions.

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Concerns Mount Over Security as National Identity Card Issuance Shifts to Banks

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Amidst the National Identity Management Commission’s (NIMC) recent announcement that the issuance of the proposed new national identity card will be facilitated through applicants’ respective banks, concerns are escalating regarding the security implications of involving financial institutions in the distribution process.

The federal government, in collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS), introduced a new identity card with payment functionality, aimed at streamlining access to social and financial services.

However, the decision to utilize banks as distribution channels has sparked apprehension among industry stakeholders.

Mr. Kayode Adegoke, Head of Corporate Communications at NIMC, clarified that applicants would request the card by providing their National Identification Number (NIN) through various channels, including online portals, NIMC offices, or their respective banks.

Adegoke emphasized that the new National ID Card would serve as a single, multipurpose card, encompassing payment functionality, government services, and travel documentation.

Despite NIMC’s assurances, concerns have been raised regarding the necessity and security implications of introducing a new identity card system when an operational one already exists.

Chief Deolu Ogunbanjo, President of the National Association of Telecoms Subscribers, questioned the rationale behind the new General Multipurpose Card (GMPC), citing NIMC’s existing mandate to issue such cards under Act No. 23 of 2007.

Ogunbanjo highlighted the successful implementation of MobileID by NIMC, which has provided identity verification for over 15 million individuals.

He expressed apprehension about integrating the new ID card with existing MobileID systems and raised concerns about data privacy and unauthorized duplication of ID cards.

Moreover, stakeholders are seeking clarification on the responsibilities for card blocking, replacement, and delivery in case of loss or theft, given the involvement of multiple parties, including banks, in the issuance process.

The shift towards utilizing banks for identity card issuance raises fundamental questions about data security, privacy, and the integrity of the identification process.

With financial institutions playing a pivotal role in distributing sensitive government documents, there are valid concerns about potential vulnerabilities and risks associated with this approach.

As the debate surrounding the security implications of the new national identity card continues to intensify, stakeholders are calling for greater transparency, accountability, and collaboration between government agencies and financial institutions to address these concerns effectively.

The paramount importance of safeguarding citizens’ personal information and ensuring the integrity of the identity verification process cannot be overstated, especially in an era of increasing digital interconnectedness and heightened cybersecurity threats.

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