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Flyover, RoW Stall New Lagos-Ibadan Rail Project

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  • Flyover, RoW Stall New Lagos-Ibadan Rail Project

Construction work on the Lagos-Ibadan standard gauge rail has been suspended over right of way issues and a flyover bridge at Ijoko, Ogun State.

The Minister of Transportation, Mr. Rotimi Amaechi, gave the indication on Monday, saying the height of the bridge would have to be raised for future electrification of the rail line.

The flyover bridge, being constructed by the Ogun State Government as part of the Sango-Ijoko-Berger road project, is over 90 per cent completed.

Amaechi, who spoke with journalists along with Governor Ibikunle Amosun of Ogun State at the Ijoko Railway Station, the site of the flyover bridge, said the bridge and the right of way issues would have to be addressed before actual construction work could commence on the modern rail line.

The minister also met with the contractor handling the railway project, the China Civil Engineering Construction Corporation, in Lagos on the level of work done thus far.

He said, “Today, we came to the conclusion that they (CCECC) have not commenced serious work and this is because of the problems they are having on the right of way.

“One of the problems is the height of the flyover, which Ogun State is building. We need to increase the current height from 4.8 metres to 6.5 metres, because we may want to use electricity to power the engine (in future).”

Amaechi stated that the engineers would meet on the issue from Monday to Wednesday with a view to proffering solutions to the problem.

The Federal Government had earlier said that by the end of 2018, the new rail line should be running. The plan is to connect it to the recently inaugurated Abuja-Kaduna rail and take the double line to Kano.

Amosun, in his reaction, commended the Federal Government for promptly responding to the right of way issue and showing commitment to efforts to resolve it.

He urged the contractor to speed up work on the rail project in order to ease the pressure on the road, adding that the state government’s construction of the flyover bridge was meant to complement the project.

The governor stated, “The gap that we left for this bridge is not enough, that’s why they advised that we should stop this bridge now. Thank God we have resolved this; there are several options, several engineering solutions; that’s why we have to commend the Minister of Transportation. He is here with all the consultants and the contractors doing the rail.

“It is going to be in our interest if this rail is fixed; not only Ogun State’s interest, but Nigerians’ interest. All the economies of Nigeria depend to a considerable extent on this axis, moving from Lagos to Ibadan, to the North, even the one going to the East.

“On our part as a state, we will do our bit. We are going to complement their efforts and that’s why we are doing this bridge, which should have been done by the Federal Government. Those grey areas, engineering details, we are going to fine-tune them.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Economy

NNPC Supplies 1.44 Billion Litres of Petrol in January 2021

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The Nigerian National Petroleum Corporation (NNPC) supplied a total of 1.44 billion litres of Premium Motor Spirit popularly known as petrol in January 2021.

The corporation disclosed in its latest Monthly Financial and Operations Report (MFOR) for the month of January.

NNPC said the 1.44 billion litres translate to 46.30 million litres per day.

Also, a total of 223.55Billion Cubic Feet (BCF) of natural gas was produced in the month of January 2021, translating to an average daily production of 7,220.22 Million Standard Cubic Feet per Day (mmscfd).

The 223.55BCF gas production figure also represents a 4.79% increase over output in December 2020.

Also, the daily average natural gas supply to gas power plants increased by 2.38 percent to 836mmscfd, equivalent to power generation of 3,415MW.

For the period of January 2020 to January 2021, a total of 2,973.01BCF of gas was produced representing an average daily production of 7,585.78 mmscfd during the period.

Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 65.20%, 19.97 percent and 14.83 percent respectively to the total national gas production.

Out of the total gas output in January 2021, a total of 149.24BCF of gas was commercialized consisting of 44.29BCF and 104.95BCF for the domestic and export markets respectively.

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Economy

NNPC Says Pipeline Vandalism Decrease by 37.21 Percent in January 2021

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The Nigerian National Petroleum Corporation (NNPC) said vandalisation of pipelines across the country reduced by 37.21 percent in the month of January 2021.

This was disclosed in the January 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR).

The report noted that 27 pipeline points were vandalised in January 2021, down from 43 points posted in December 2020.

It also stated that the Mosimi Area accounted for 74 percent of the total vandalised points in Janauray while Kaduna Area and Port Harcourt accounted for the remaining 22 percent and 4 percent respectively.

NNPC said it will continue to engage local communities and other stakeholders to reduce and eventually eliminate the pipeline vandalism menace.

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Economy

Nigeria’s Food Inflation Hits 22.95 Percent in March 2021

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Food inflation in Africa’s largest economy Nigeria rose by 22.95 percent in March 2021, the latest report from the National Bureau of Statistics (NBS) has shown.

Food Index increased at a faster pace when compared to 21.70 percent filed in February 2021.

Increases were recorded in Bread and cereals, Potatoes, yam and other tubers, Meat, Vegetable, Fish, Oils and fats and fruits.

On a monthly basis, the food sub-index grew by 1.90 percent in March 2021. An increase of 0.01 percent points from 1.89 percent recorded in February 2021.

Analysing a more stable inflation trend, the twelve-month ended March 2021, showed the food index averaged 17.93 percent in the last twelve months, representing an increase of 0.68 percent when compared to 17.25 percent recorded in February 2021.

Insecurities amid wide foreign exchange rates and several other bottlenecks that impeded free inflow of imported goods were responsible for the surged in prices of goods and services in March, according to the report.

The Central Bank of Nigeria-led monetary policy committee had attributed the increase in prices to scarcity created by the intermittent clash between herdsmen and farmers across the nation.

However, other factors like unclear economic policies, increased in electricity tariffs, duties, subsidy removal and weak fiscal buffer to moderate the negative effect of COVID-19 on the economy continue to weigh and drag on new investment and expansion of local production despite the Federal Government aggressive call for improvement in domestic production.

Nigeria’s headline inflation rose by 18.17 percent year-on-year in the month under review.

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