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Leaders Kick as $1.5b Loan for Lagos-Ibadan Railway is Stuck

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  • Leaders Kick as $1.5b Loan for Lagos-Ibadan Railway is Stuck

Federal lawmakers came under fire yesterday for delaying the $1.5billion Chinese loan for the construction of the Lagos-Ibadan standard rail gauge.

The National Assembly slashed N21billion off the N31billion estimate in the 2017 budget for the rehabilitation of the Lagos-Ibadan Expressway.

All conditions for the loan were met over six months ago. Only the lawmakers’ approval is yet to be obtained.

Last month, the presidential request for the loan’s approval was read by Senate President Bukola Saraki and referred to the Committee on Foreign Loans headed by Senator Shehu Sani. Since then, it has been kept in abeyance.

Stakeholders faulted the lawmakers, wondering why such an important rail project which connects the nation’s economic hub to other parts of the country was left unattended to.

Former Senate Minority Leader Senator Olurunnimbe Mamora said the issue deserved expedited action given the importance of the Lagos-Ibadan rail project. “Whatever the reason the lawmakers have for not according it the priority it deserves, they should have a re-think”.

According to him, the Lagos-Ibadan Expressway is the busiest road in the country and there is an absolute necessity to have an alternative. “That’s why the rail project is not only desirable, but inevitable. The earlier we did it, the better. It would take off a lot of load, as far as the transportation of heavy goods is concerned. This way, it would reduce haulage on the roads.”

Mamora added: “It should be a priority thing for us to do. My appeal is to the National Assembly to have a re-think and approve the loan in the interest of the nation.

”We have many ports in Lagos and we need to use the train to evacuate goods to all parts of the country. Too much pressure on the roads is responsible for the state of disrepair of our roads nationwide. The plan of the present government is to connect all state capitals with rail.”

Lawyer and human rights activist Monday Ubani said if it was true that the National Assembly is dilly-dallying on the matter, then it amount to “the worst decision taken by the National Assembly, because 90 per cent of Nigerians will want an efficient railway system in Lagos, which would connect other parts of the country”.

The Second National Vice President of the Nigerian Bar Association (NBA) said having an efficient railway system would reduce pressure exerted on roads by trucks.

He said: “What baffles me is that the ruling All Progressives Congress (APC) is in the majority in the National Assembly; must the lawmakers sabotage the programme of their party? Whose interest are they representing?”

Afenifere Publicity Secretary Yinka Odumakin said the issue had been on for quite sometime, adding that it appeared there were forces bent on sabotaging the Southwest.

Odumakin said: “What they are doing cannot be an accident; they want to deny the Southwest projects that are very dear to it. I want to say doing that would be very daring and unacceptable.

“We are waiting for them and will definitely rise up against this abnormally. The Southwest has a lot to offer in terms of ensuring the advancement of the country. What they do not understand is that the project does not stand to benefit the Southwest alone, but the entire country through mutual interaction, facilitated by communication.”

Fromer Transport Minister Chief Ebenezer Babatope, said it would be a bad omen, if the National Assembly worked against the project.

He said: “The issue of railways again? When I was minister, we did everything within our powers to give the necessary support to the project. We ensured that the railways from Lagos to Calabar functioned well. Again, we have not got full rail development in Nigeria.

“Whoever offers us any assistance we should embrace it. I want to appeal to the National Assembly to reconsider its stand and support what will bring progress to the Southwest and the entire country.”

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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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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Israeli President Declares Iran’s Actions a ‘Declaration of War’

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Israeli President Isaac Herzog has characterized the recent series of attacks from Iran as nothing short of a “declaration of war” against the State of Israel.

This proclamation comes amidst escalating tensions between the two nations, with Iran’s aggressive actions prompting serious concerns within Israel and the international community.

The sequence of events leading to Herzog’s grave assessment began with a barrage of 300 ballistic missiles and drones launched by Iran towards Israel over the weekend.

While the Israeli defense forces managed to intercept a significant portion of these projectiles, the sheer scale of the assault sent shockwaves through the region.

President Herzog’s assertion of war was underscored by Israel’s careful consideration of its response options and ongoing discussions with its global partners.

The gravity of the situation prompted the convening of the G7, where member nations reaffirmed their commitment to Israel’s security, recognizing the severity of Iran’s actions.

However, the United States, a key ally of Israel, took a nuanced stance. President Joe Biden conveyed to Israeli Prime Minister Benjamin Netanyahu that, given the limited casualties and damage resulting from the attacks, the US would not support retaliatory strikes against Iran.

This position, though strategic, reflects a delicate balancing act in maintaining stability in the volatile Middle East region.

Meanwhile, Russian Foreign Minister Sergei Lavrov and his Iranian counterpart Hossein Amir-Abdollahian cautioned against further escalation, emphasizing the potential for heightened tensions and provocative acts to exacerbate the situation.

In response to the escalating crisis, the Nigerian government issued a call for restraint, urging both Iran and Israel to prioritize peaceful resolution and diplomatic efforts to ease tensions.

This appeal reflects the broader international consensus on the need to prevent further escalation and mitigate the risk of a wider conflict in the Middle East.

As Israel grapples with the implications of Iran’s aggressive actions and weighs its response options, President Herzog reiterated Israel’s commitment to peace while emphasizing the need to defend its people.

Despite calls for restraint from global allies, Israel remains vigilant in safeguarding its security amidst the growing threat posed by Iran’s belligerent behavior.

The coming days are likely to be critical as Israel navigates the complexities of its response while international efforts intensify to defuse the escalating tensions between Iran and Israel.

The specter of war looms large, underscoring the urgency of diplomatic engagement and concerted efforts to prevent further escalation in the region.

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NIMC Announces Launch of Three National ID Cards to Boost Identity Management

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The National Identity Management Commission (NIMC) has unveiled plans to launch three new national identity cards.

These cards are aimed at providing improved access to government services and bolstering identification systems across Nigeria.

The three new national identity cards, as disclosed by Ayodele Babalola, the Technical Adviser, Media, and Communications to the Director-General of NIMC, will include a bank-enabled National ID card, a social intervention card, and an optional ECOWAS National Biometric Identity Card.

Babalola explained that these cards are tailored to meet the diverse needs of Nigerian citizens while fostering greater participation in nation-building initiatives.

In an interview, Babalola outlined the timeline for the rollout of these cards, indicating that Nigerians can expect to start receiving them within one or two months of the launch, pending approval from the Presidency.

The bank-enabled National ID card, designed to cater to the middle and upper segments of the population, will offer seamless access to banking services within the specified timeframe.

Also, the National Safety Net Card will serve as a crucial tool for authentication and secure platform provision for government services such as palliatives, with a focus on the 25 million vulnerable Nigerians supported by current government intervention programs.

This initiative aims to streamline the distribution process and ensure efficient delivery of social services to those in need.

Furthermore, the ECOWAS National Biometric Identity Card will provide an optional identity verification solution, facilitating cross-border interactions and promoting regional integration within the Economic Community of West African States (ECOWAS).

The announcement comes on the heels of NIMC’s collaboration with the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS) to develop a multipurpose national identity card equipped with payment capabilities for various social and financial services.

This collaborative effort underscores the commitment of key stakeholders to foster innovation, cost-effectiveness, and competitiveness in service delivery.

Babalola stated that the new identity cards aim to address the need for physical identification, empower citizens, and promote financial inclusion for marginalized populations. With a target of providing these cards to approximately 104 million eligible applicants on the national identification number database by the end of December 2023, NIMC is poised to revolutionize the identity management landscape in Nigeria.

The implementation of these programs aligns with broader efforts to drive digital transformation and improve access to essential services for all Nigerians.

Babalola highlighted the multifaceted benefits of the new identity cards, including their potential to uplift millions out of poverty by facilitating access to government social programs and financial services.

While the launch date is set tentatively for May pending presidential approval, NIMC remains committed to finalizing the necessary details to ensure a smooth rollout of the new identity cards.

The introduction of these cards represents a significant step forward in NIMC’s mission to provide secure and reliable identity solutions that empower individuals and contribute to the socio-economic development of Nigeria.

Efforts to reach Kayode Adegoke, the Head of Corporate Communications at NIMC, for further insights on the initiative were unsuccessful at the time of reporting.

As Nigeria gears up for the launch of these innovative identity cards, stakeholders express optimism about the potential positive impact on identity management, financial inclusion, and socio-economic development across the country.

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