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Waste Managers Lament State of Lagos Dumpsites

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  • Waste Managers Lament State of Lagos Dumpsites

Wastes may soon find their way back to Lagos streets and roads as major dumpsites across the state have become unmanageable in recent times, waste managers have said.

When our correspondent visited one of the landfills at Igando area of the state on Friday, it was observed that the roads to the major dump areas had become almost impassable and truck drivers were in a queue to enter the dumpsite and empty their trucks, stretching up to the nearby general hospital.

One of the truck drivers, who spoke on the condition of anonymity, said he slept in his vehicle overnight, and as of 11am, he had yet to dump the waste he brought to the site.

He said, “This affects our efficiency as waste managers because our vehicles spend days just trying to evacuate wastes, meaning that we are not able to go back and pick more wastes, which we used to do about three to four times daily, and our clients are complaining.

“We used to have one long queue in the past and it was manageable; but now, everything has become chaotic that trucks even park on the road. The other day, I got here by 11am and did not leave until 6pm.”

According to him, apart from the delay, the slippery roads leading to the dumpsites damage the trucks, adding that some waste managers had lost their trucks in the process.

Another driver, who gave his name as Babatunde, said it had become impossible for him to plan his day because of the delays, adding that on the average, he spends six hours daily at the dumpsite.

Explaining the reason for the delays, Babatunde said the Olusosun landfill had four bulldozers that push the wastes into the pits as they are dumped, but the number had been reduced to one or two sometimes.

“These are the same bulldozers that are used to push our trucks whenever they sink in the muddy road, and they damage the trucks in the process because they are not designed for that kind of job,” he said.

Our correspondent gathered that the state government had the responsibility of managing the Olusosun and Igando landfills, the two major dumpsites in the state, but recently outsourced it to private companies due to the financial burden.

Some stakeholders who spoke said the companies introduced a fee of N2, 000 every time a truck comes to dump refuse so as to help manage the sites.

The consultant to the Association of Waste Managers, Mr. Lekan Owojori of Wellbeck Consulting Limited, told our correspondent, “We agreed reluctantly, but our vehicles still spend days just trying to evacuate wastes. The N2,000 was supposed to improve services but we haven’t seen any improvement.

“The nature of the job is that a vehicle should not spend more than 20 minutes so that more wastes can be collected. A driver should be able to make three trips a day or more.”

The waste managers also alleged that some security operatives had been employed from the Odua Peoples Congress to guard the sites, but that they derived pleasure from harassing truck drivers whenever they complained about the long queue.

“Whenever I visit Olusosun, even if I spend eight hours, I try to comport myself because I don’t want anybody to harass or beat me up,” a driver said.

He said a number of truck drivers had been beaten up and hospitalised in the past for trying to force their way into the dumping area.

Owojori said, “We have complained to the government that the quality of service at the dumpsites has not improved and it is delaying our turnaround time. Over the years, we have had issues with the dumpsites, but the last administration spent a lot to keep the sites running and in good order.

“The government was spending about N300m per month before the concession, then we would dump our wastes and about four or five caterpillars will push the waste into the pit. But now, there are just about one or two caterpillars servicing these pits and we are spending a lot of time. We now have trucks that wait for two to three days.”

He added that the waste managers had not been able to get the state government to help improve the situation even after writing to Governor Akinwunmi Ambode.

“We wrote a letter before the raining season started and the governor replied us that the attempt to deal with it was why the sites were given out on concession, but the situation has worsened with the raining season,” he said.

The General Manager, Lagos State Waste Management Authority, Mr. Segun Adeniji, told our correspondent that it had been difficult managing the dumpsites because of the rains.

According to him, there are plans by the government to reengineer the dumpsites to global standards.

“Government has a lot of plans for the dumpsites; we are working on well-engineered dumpsites but before then, we have to use these ones and manage them as they are. Managing dumpsites during the raining season is difficult; all efforts put in by the managers to put it right have been abortive but there will soon be sanity,” he said.

On the issue of security operatives beating up drivers at the dumpsite, Adeniji stated that no formal complaint had been made, adding that when concessionaires took over in April a case was reported at Olusosun and was addressed.

“So far, we have not heard about anybody being beaten up; if there is anything like that, no one has told us yet,” he said.

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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Computer Village Traders Demand Refunds as Lagos State Cancels Katangowa Project

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Traders at the renowned Computer Village in Lagos find themselves in a state of uncertainty following the abrupt termination of the multibillion-naira Katangowa project by the Lagos State Government.

The project, which was aimed at relocating the bustling tech market from its current site in Ikeja to the Agbado/Oke-Odo area of the state, has left traders in a state of limbo.

Despite the cancellation of the project reportedly occurring two years ago, traders claim they were not informed by either the government or the developers, Bridgeways Limited.

This lack of communication has left them in a precarious position, particularly concerning the substantial upfront payments made by some traders to the developers.

Chairman of the Computer Village Market Board, Chief Adebowale Soyebo, expressed dismay at the lack of communication from the authorities regarding the project’s termination.

He explained that neither the government nor the contractors had officially informed them of the decision, leaving traders in the dark about the fate of their investments.

Traders who had made payments to Bridgeways Limited now seek clarity on the refund process. The absence of official communication has compounded their concerns, with many uncertain about the fate of their investments.

While acknowledging the payments made by traders, Lagos State Governor’s Adviser on e-GIS and Urban Development, Dr. Olajide Babatunde, assured that the government would facilitate refunds.

He, however, said there is a need for proper identification and verification to ensure that affected traders receive their refunds accordingly.

The termination of the Katangowa project has reignited debates about the relocation of Computer Village.

Traders assert that the issue of relocation should not be raised until the new site is at least 70% completed, as per their agreement with the government.

The cancellation of the Katangowa project underscores the challenges associated with large-scale urban development projects and the importance of transparent communication between stakeholders to avoid such situations in the future.

As traders await further directives from the government, they remain hopeful for a resolution that safeguards their interests and ensures the continuity of one of Nigeria’s most prominent tech markets.

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Government Begins Disbursement of N200bn Support Fund to Manufacturers and Businesses

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The Ministry of Industry, Trade and Investment has initiated the disbursement of the long-awaited N200 billion Presidential Conditional Grant Scheme.

This is the beginning of a vital phase in the government’s strategy to provide financial assistance to manufacturers and businesses across Nigeria.

The scheme, which is being administered through the Bank of Industry (BOI), has been divided into three categories of funding, totaling N200 billion.

The disbursement process comes after an exhaustive selection process and verification of applicants to ensure transparency and accountability in the allocation of funds.

Doris Aniete, spokesperson for the Ministry of Industry, Trade and Investment, announced the progress in a statement posted on the trade minister’s official X (formerly Twitter) handle.

Aniete highlighted that verified beneficiaries have already started receiving their grants, signaling the beginning of the phased disbursement strategy.

“We are pleased to inform you that the disbursement process for the Presidential Conditional Grant Programme has officially commenced. Some beneficiaries have already received their grants, marking the beginning of our phased disbursement strategy,” stated Aniete.

She further disclosed that by Friday, April 19, a substantial number of verified applicants are set to receive significant disbursements.

However, Aniete emphasized that disbursements are ongoing, and not all applicants will receive their grants immediately, assuring that all verified applicants will eventually receive their grants in subsequent phases.

The initiation of the disbursement process comes after more than eight months since President Bola Tinubu announced the grant for manufacturers and small businesses.

The scheme aims to mitigate the adverse effects of recent economic reforms and foster sustainable economic growth by empowering businesses with financial support.

President Tinubu had outlined the government’s commitment to strengthening the manufacturing sector and creating job opportunities through the disbursement of N200 billion over a specified period.

The funding is intended to provide credit to 75 enterprises, each able to access up to N1 billion at a low-interest rate of 9% per annum.

However, the implementation of the programme has faced challenges, including delays and criticisms regarding the registration process.

Femi Egbesola, President of the Association of Small Business Owners, expressed concerns over the slow pace of data collation and suggested that genuine businesses were being discouraged from accessing the loans.

Despite the hurdles, the commencement of the disbursement process signifies a significant step forward in the government’s efforts to provide vital support to manufacturers and businesses, potentially revitalizing economic activities and driving growth across various sectors.

As beneficiaries begin to receive their grants, the impact of this initiative on the nation’s economic landscape is eagerly anticipated.

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MicroStrategy Rally Crushes Short Sellers, Wiping Out $1.92 Billion

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Short sellers betting against MicroStrategy found themselves facing significant losses as the company’s rally wiped out $1.92 billion since March.

This development comes amidst a rally that has seen MicroStrategy’s stock outperform bitcoin, causing a considerable hit to those who had taken a bearish stance on the tech firm.

According to data from S3 Partners, short sellers have been on the losing end since March, as MicroStrategy’s stock surged, highlighting the impact of the rally on those betting against the company’s success.

This loss underscores the challenges faced by short sellers in a market where certain stocks experience rapid and unexpected price increases.

The rally in MicroStrategy’s stock is attributed to several factors, including the approval of several spot bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) earlier in the year.

This move by the SEC brought bitcoin, a once-nascent asset class, closer to the mainstream and fueled investor interest in companies like MicroStrategy, known for their significant holdings of the cryptocurrency.

MicroStrategy, which held nearly 190,000 bitcoin on its balance sheet as of the end of 2023, has indicated its intention to continue increasing its exposure to the digital currency.

The company’s decision to sell convertible debt to raise money for additional bitcoin purchases further bolstered investor confidence and contributed to the stock’s rally.

Analysts at BTIG noted that the premium for MicroStrategy’s stock reflects investors’ desire to gain exposure to bitcoin indirectly, especially those who may not have the means to invest directly in the cryptocurrency or ETFs.

The company’s ability to raise capital for bitcoin purchases is seen as a positive sign for shareholders, adding to the optimism surrounding its stock.

However, despite the recent rally and optimism surrounding MicroStrategy, the crypto industry as a whole continues to be heavily shorted.

Short interest in nine of the most-watched companies in the crypto space remains high, standing at 16.73% of the total number of outstanding shares, more than three times the average in the United States.

Moreover, concerns persist regarding the SEC’s stance on cryptocurrencies, with some experts suggesting that the approval of spot bitcoin ETFs may not necessarily indicate a broader acceptance of other similar products, such as spot ethereum ETFs.

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