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Key Facts About the Fourth Mainland Bridge Project

Tosin Ranks
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Key Facts About the Fourth Mainland Bridge Project

Lagos State has shortlisted three bidders for the monumental $2.5 billion Fourth Mainland Bridge project.

This ambitious endeavor, commissioned by the Lagos State Government, aims to span 38 kilometers, connecting Lagos Island via Langbasa (Lekki) and Baiyeku (Ikorodu) over the Lagos Lagoon to Itamaga in Ikorodu.

Once completed, it is set to become Africa’s second-longest bridge, featuring three toll plazas, nine interchanges, a 4.5-kilometer Lagoon Bridge, and an environmentally friendly setting.

Here are six key points to understand about the Fourth Mainland Bridge:

1. Public-Private Partnership (PPP) Project:
The Fourth Mainland Bridge is a collaborative project between the Lagos State Government and a consortium of private investors led by the Chinese construction company CCECC-CRCCIG Consortium.

This partnership encompasses the construction and operation of a 37-kilometer tolled road and bridge with a design speed of 120 km/h, coupled with the development of adjacent real estate.

2. Preferred Bidder Selection:
On December 29, 2022, the Lagos State Government announced that the CCECC-CRCCIG Consortium had been chosen as the preferred bidder to undertake this significant project.

3. Project Cost:
The estimated cost of the Fourth Mainland Bridge is $2.5 billion, originally proposed in 2006 and subsequently earmarked with a budget allocation of $2.2 billion in the 2017 Lagos State budget.

4. Investment Partnership:
Lagos State Governor, Babajide Sanwo-Olu, secured a substantial investment partnership of $1.352 billion with the African Export-Import Bank and Access Bank during the second Africaribbean Trade and Investment Forum 2023 in Georgetown, Guyana. This funding will support the project’s realization.

5. Project Completion Date:
The Lagos State Government has set the target of delivering the Fourth Mainland Bridge by 2027, following the selection of CCECC-CRCCIG Consortium as the preferred bidder.

6. Bridge Details:
The Fourth Mainland Bridge is designed as a 2 x 4 lane carriageway cross-sectional road, with provisions for a BRT Lane and future road expansion.

This bridge is poised to bridge the gap between the mainland and island segments of Nigeria’s former capital city and economic center, complementing the existing Eko, Carter, and Third Mainland Bridges.

The project is expected to extend over approximately 37 kilometers, commencing from Abraham Adesanya in Ajah, along the Eti-Osa-Lekki-Epe corridor, and extending northwest to the Lagoon shoreline of the Lagos-Ibadan Expressway via Owutu/Isawo in Ikorodu.

 

The EFCC successfully obtains convictions for 41 individuals involved in internet fraud in the states of Oyo and Ogun

Tosin Ranks
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0
The EFCC successfully obtains convictions for 41 individuals involved in internet fraud in the states of Oyo and Ogun

The Economic and Financial Crimes Commission (EFCC) has disclosed that its Ibadan zonal office has successfully prosecuted and sentenced 41 individuals involved in internet fraud to various prison terms in the states of Oyo and Ogun.

According to EFCC, these individuals were convicted after admitting guilt in response to one-count charges brought against them.

The convictions took place before Judges Ladiran Akintola and Adebukola Olajide at the Oyo State High Court in Ibadan, Oyo State.

Additionally, some of the convictions occurred before Judges Abiodun Akinyemi, A.A. Babawale, and B.B. Adebowale at the Ogun State High Court in Abeokuta, and before Justice Uche Agomoh at the Federal High Court in Ibadan, Oyo State.

This information was conveyed in a statement issued by EFCC’s Head of Media and Publicity, Dele Oyewale.

It should be noted that all 41 convicts were apprehended by law enforcement officers on charges related to internet-related offenses.

Among the convicted individuals are Siyanbade Timilehin Omobosola, Ilugbo Emmanuel Adekunle, Odude Ayomide Michael, Aderounmu Gbenga Michael, Oluwole David Dare, Habeeblahi Abdullateef Akande, Ololade Sunday Olamide, Ibrahim Victor Abayomi, Adewusi Mojeed Adedeji, Afeez Lekan Jimoh, Peter Seyi Iyanuoluwa, Olatunde Abass, Alan-Oni Joseph Opeyemi, Adetunji Abolaji Adeola, and Ogunmola Oluwabori Michael.

 

The Naira’s rebound persists as it gains further ground, now bolstering to ₦‎950

Tosin Ranks
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0
The Naira’s rebound persists as it gains further ground, now bolstering to ₦‎950

The Naira’s resurgence against the US dollar continued on Friday, as it strengthened to an average exchange rate of N950 per dollar in the parallel market.

This marks a remarkable N170 increase, reflecting a 15.18% appreciation in the local currency compared to the N1,120 exchange rate just the previous day.

This upward trend marks the second consecutive day of the Naira’s recovery, driven by the Central Bank of Nigeria’s action to address its FX backlog.

According to Bureaux De Change operators interviewed by The PUNCH, the Naira’s positive momentum is ongoing, and the market is responding favorably to the CBN’s intervention.

One trader, Awolu, stated, “The dollar is available at N950 today for those looking to purchase.”

Kadri, another trader, mentioned that he buys at N900 per dollar but sells at N950, indicating a favorable trend in the exchange rate. Taura, another currency trader, reported an exchange rate of N1,015 per dollar in his area, with selling at N980 and buying at N1,015.

However, it’s worth noting that not all reports are equally positive.

Muhammad pointed out that the Naira’s value was currently at N970 per dollar, and the spread between buying and selling was N10.

Aminu Gwadabe, the President of the Association of Bureaux De Change Operators of Nigeria, confirmed that the CBN’s efforts to clear its backlog have played a pivotal role in the Naira’s strengthening.

He emphasized the need for continued transparency in CBN’s actions.

It was reported on Thursday that the CBN had begun settling outstanding matured FX forwards owed to various creditors, including Citi Bank, Stanbic IBTC, and Standard Chartered Bank.

 

France will repatriate $150 million in stolen funds linked to the Abacha regime

Tosin Ranks
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0
France will repatriate $150 million in stolen funds linked to the Abacha regime

On Friday, the Presidency announced that France is set to repatriate a substantial $150 million in funds previously looted by the former Nigerian military leader, General Sani Abacha.

In an official statement, Ajuri Ngelale, the Special Adviser to President Bola Tinubu on Media and Publicity, conveyed the President’s appreciation for France’s decision.

During a meeting with the French Minister of Europe and Foreign Affairs, Catherine Colonna, President Tinubu expressed his delight at the strengthening of bilateral relations between Nigeria and France, which had evolved following his visit to Paris after his inauguration.

President Tinubu expressed his gratitude for the positive development of the Abacha loot repatriation and stressed the importance of using these recovered funds wisely to achieve Nigeria’s development goals.

Furthermore, he emphasized the need to enhance collaboration on both political and economic fronts, acknowledging the growing cooperation between the two countries in areas like climate change, economic integration, education, and culture.

Tinubu also acknowledged the signing of a €100 million agreement between Nigeria and France to support the i-DICE program, a Federal Government initiative promoting investments in Information and Communications Technology (ICT) and the Creative Arts Industries.

The French Minister extended an invitation to President Tinubu to attend the upcoming Paris Peace Forum and lauded the completion of the Abacha loot repatriation, emphasizing the significance of this achievement.

She also commended President Tinubu’s leadership in overseeing the affairs of the Economic Community of West African States (ECOWAS) and expressed France’s support for his efforts, underlining the importance of constitutional order and democracy in all countries.

 

Bodex Social Media Hangout 4.0: Shaping the Digital Landscape for Positive Impact

Ranks-Staff
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0
Bodex Social Media Hangout 4.0: Shaping the Digital Landscape for Positive Impact

The 4th edition of the Bodex Social Media Hangout, held at the prestigious Radisson Blu Ikeja, Lagos on 21st October 2023, brought together an ensemble of digital experts, thoughtful leaders, Opinion experts, stakeholders and social media enthusiasts for an event that left a profound mark on the ever-evolving digital landscape.

Themed ‘Social Media: Hope or Hubris,’ the event explored the evolution of social media, transforming from its early days as a platform for personal connections to the complex landscape it has become today. Attendees had the exclusive opportunity to engage with a remarkable lineup of top-tier digital experts who shared their invaluable insights on various digital topics.

The driving force behind the Bodex Social Media Hangout, the esteemed convener Bodex Hungbo, commenced the event with a thought-provoking narrative. She recounted the fascinating journey of social media from its inception to its current role in society, highlighting its original purpose: “to bring sanity to netizens” through the annual gathering of experts.

Guest speaker Mr. Gbenga Omotoso, Lagos State Commissioner of Information and Strategy, shared his insights on how social media has emerged as the new leader, accelerating communication in an interactive and effective manner, surpassing the limitations of traditional media. His compelling discussion resonated with attendees, emphasizing the significance of this dynamic medium.

Keynote speaker Obi Asika, the founder of Omniverse, captivated the audience by shedding light on the astounding growth of Nigerian influencers in the digital space, amassing billions of followers on social media platforms. His perspective underscored the global impact of Nigerian content creators.

Ray Sharma, lead partner at Global Tech and a seasoned investor, delivered an engaging talk on the rapid growth of social media platforms. He pointed out that Instagram took two and a half years to reach a hundred million users, TikTok achieved this feat in just nine months, and ChatGPT, a testament to cutting-edge technology, took a mere month to reach a hundred million users.

The head Mass Media Writing Department School of Media Communication at Pan-Atlantic University Dr. Chike Mgbeadichie also gave a compelling speech on the importance of cultural competence in content creation. He emphasised the inevitable need for cross-cultural knowledge and skills in creating content that respects the cultural and religious sensitivities of others.

Izzi Boye who is into smartphones maximization also taught some hidden features on smartphones leaving the audience jaw dropping as they never knew such features existed on their phones

The Bodex Social Media Hangout 4.0 also featured three enlightening panel sessions where savvy panelists shared insights on different topics. Moderated by Ekezue Anthonia Ezenwa, the first panel featured Dr. Morayo Brown, Victor Ogunyinka, Ekemini Ekerette, and Elsie Godwin, discussing how social media can inspire hope for individuals in today’s turbulent times.

The second panel, moderated by Mercy Frank, featured Hon Gbenga Omotoso, Charles Olojede, Mariam Bakre, and Taiwo Adeyemi sharing their informed opinions on the essentiality of digital media in various sectors, including business, governance and citizenship participation.

Moderated by Lanre Basamta, the third panel featured JJ Omojuwa, Olubiyi Tudors Ogunbiyi, Naijabrandinfluencer and Dami Adenuga dispensing enlightening thoughts on the prospects of social media for economic empowerment. All sessions proved engaging with remarkable takeaways for the audience.

Overall, the Bodex Social Media Hangout 4.0 succeeded in fostering a renewed commitment to using social media as a force for good, emphasizing responsible engagement, and highlighting the incredible potential it offers for both personal and professional growth.

For more information about the Bodex Social Media Hangout and its mission, please visit www.bsmhangout.com

Veteran actor Ameachi Muonagor begs for help to battle stroke

Ranks-Staff
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0
Veteran actor Ameachi Muonagor begs for help to battle stroke

Veteran actor Ameachi Muonagor begs for help to battle stroke

Veteran actor Ameachi Muonagor has cried out to the public for support after revealing that he is currently battling a stroke.

 

The actor known for playing a fatherly role in the movie Aki and Pawpaw disclosed this information on Thursday night in a widely shared video, claiming that he has been experiencing a stroke for the previous seven months.

 

Ameachi who appeared bedridden in the video, made an appeal to the public for financial support.

 

“I am sick, this thing that is called stroke caught up with me, and from there they rushed me to the hospital. The first hospital they rushed me to was in Nnewi, where I spent some two months and I was referred to teaching hospital Nnewi and here I am.

 

“In that set, I was with Emeka Ani, Patience Ozokwo, Rita Edochie, and Ebele Okaro, at the end of that moment, I was to enter my car when I was struck with this problem and since then it’s getting worse. Right now I cannot move, I can’t walk on my own. All my half of left is paralyzed, so it’s a problem to me.”

 

Speaking further, Ameachi Muonagor said: “I’m so sorry I didn’t make it known to the public earlier, because I didn’t know it will last this long, but as it is now, I am calling on well-minded individuals to come to my assistance, to see how they can help me. It’s paralysis, half of my body.”

 

Credit: X // O2 Connect

People who lack understanding wrongly accuse me of requesting a 25% share – Wike

Tosin Ranks
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0
People who lack understanding wrongly accuse me of requesting a 25% share – Wike

The Federal Capital Territory’s Minister, Nyesom Wike, has rebuked those who accuse him of seeking a 25 percent share from the Rivers government, calling them ignorant. He made these remarks during a visit by a delegation from the Rivers Caucus in the 10th National Assembly, which included three senators and 11 members of the House of Representatives in Abuja.

Rivers had been embroiled in a crisis following an attempt by the Rivers Assembly to impeach Governor Siminalayi Fubara.

Wike, who served as governor for eight years and is currently the FCT Minister, vehemently denied any interest in governing Rivers.

He emphasized his focus on preserving the political structure that had been meticulously developed over the years.

He issued a stern warning to anyone contemplating interfering with this political structure, emphasizing that such actions would lead to severe consequences.

Wike urged the caucus members to work as a cohesive team for the benefit of the people of Rivers and assured them that constructive criticism would be offered to keep them on the right path.

Reflecting on the challenges faced during his tenure as an opposition party leader from 2015, Wike acknowledged the relentless opposition from the Federal Government but credited the collective effort in overcoming those challenges.

He stressed the importance of unity within the caucus to prevent external interference in the state’s affairs.

I’m still feeling hurt that some of my housemates didn’t offer their congratulations, expressed Ilebaye with a touch of disappointment

Tosin Ranks
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0
I’m still feeling hurt that some of my housemates didn’t offer their congratulations, expressed Ilebaye with a touch of disappointment

Ilebaye Odiniya, the triumphant Big Brother Naija All Stars winner, expressed her deep disappointment at the lack of congratulations from some of her fellow housemates upon her victory in the reality TV show.

She conveyed these feelings during a candid conversation on Chude Jideonwo’s #WithChude.

She shared that their failure to offer their congratulations evoked painful memories of her early life experiences, where betrayal instilled in her a fear of forming friendships.

She also highlighted the isolation and bullying she endured within the Big Brother house, which triggered bouts of depression after her initial appearance on the show.

Recalling her emotions when some housemates refrained from congratulating her, she revealed, “I am still hurt that I didn’t receive congratulations from some of the housemates because I genuinely believed that, had the roles been reversed, I would have celebrated their success.

In a vulnerable moment with Ike in the bathroom, I felt a profound sense of sadness and loneliness, questioning what I had done to deserve such treatment.

I wished they had communicated their concerns to me instead of throwing my clothes around. I simply felt as though I wanted to disappear.

When discussing her return for the All-Stars season, she emphasized that her primary goal was to have fun while maintaining an optimistic outlook about reaching the finals.

She explained, “I approached this with the intention of enjoying myself.

My only strategy was to pray and trust in God for a chance at making it to the final stage.

Winning never crossed my mind; my prayer was simply to endure and stay until the 6th week or, if it was in God’s plan, reach the final.

As for the rumors that I sought public sympathy by claiming I was bullied, I believe this is false. My victory is a result of grace.

This is my year, and what’s destined for you will come your way. I believe people genuinely supported me for who I am, not out of pity.”

Reflecting on her experience of mistreatment by her fellow housemates, she clarified, “I faced a great deal of misunderstanding, underwent several challenges, and felt mistreated. I wouldn’t label it as bullying, but rather an unfair treatment.”

Regarding her relationships with male housemates on the show, she shared, “In the house, I was interested in getting to know Prince.

He seemed cool, and I sensed his apprehension, so I told him, ‘I’m not the type of person who thrives on competition. When I’m for you, I’m entirely devoted to you.’

However, I think he may have perceived it as a jest and suggested we wait until after leaving the house.”

She added, “There was nothing serious between us; we were just friends. I appreciate intelligence, and I admire the way he thinks and speaks.

As for my connection with Cross, it wasn’t a serious romantic relationship.

The house can get dull without someone to spend time with, so I thought, ‘Let’s have some fun,’ and it wasn’t meant to be anything profound.”

When discussing her future aspirations, she shared, “I aspire to become the world’s top runway model and establish my own orphanage. I also have ambitions in acting and dream of owning my business.

I’m determined to reflect on my unique identity and create something extraordinary.

The Naira’s value falls to N1,180 per US dollar in the unofficial exchange market

Tosin Ranks
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0
The Naira’s value falls to N1,180 per US dollar in the unofficial exchange market

Yesterday, the Nigerian naira faced a decline in its value, dropping from N1,170 per dollar to N1,180 per dollar in the informal exchange market. Conversely, the naira displayed strength in the Nigerian Foreign Exchange Market (NAFEM) as it appreciated to a rate of N793.28 per dollar.

According to data from FMDQ, the indicative exchange rate for the Investors and Exporters (I&E) window increased to N793.28 per dollar from N786.02 per dollar on Wednesday, signifying a N7.26 depreciation for the naira.

Furthermore, the volume of dollars traded in the NAFEM saw a significant surge, rising by 28 percent to reach $136.11 million, compared to the previous day’s total of $105.98 million.

Consequently, the discrepancy between the official and parallel market exchange rates widened, with the rate in the parallel market standing at N386.72 per dollar on that day, in contrast to N334.68 per dollar on Wednesday.

 

LASG Declares Shutdown of Oworonshoki, Adekunle, and Adeniji Ramps

Tosin Ranks
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0
LASG Declares Shutdown of Oworonshoki, Adekunle, and Adeniji Ramps

NOTICE OF CLOSURE FOR OWORONSHOKI-ADEKUNLE AND LAGOS ISLAND (ADENIJI ADELE) – ADEKUNLE RAMPS

The Lagos State Government (LASG) has issued an official notification regarding the temporary closure of the Oworonshoki-Adekunle and Lagos Island (Adeniji Adele) – Adekunle Ramps. This closure is scheduled to commence at 7:00 am on Monday, November 6th, 2023, and will remain in effect for a period of five weeks.

During this period, critical repair and maintenance work will be carried out on the ramps connecting Oworonshoki to Adekunle and Lagos Island (Adeniji Adele) to Adekunle simultaneously.

To ensure the smooth flow of traffic, alternative routes have been recommended for the benefit of the motoring public:

SCENE 1

– If you’re traveling from Lagos Island towards Ebute Metta, you’ll be rerouted to Ilubirin, from where you can access Carter Bridge (Idumota Bridge). This route connects to Iddo and further leads to the Otto/Oyingbo area. Continue along Herbert Macaulay Way to reach your desired destination.

SCENE 2

– Motorists departing from Victoria Island are advised to take the route through Bonny Camp, Onikan Marina Bridge, Apongbon, Eko Bridge, Costain, Apapa Road, Railway Compound, Alagomeji, Glover Road, and Apena Junction. This will eventually connect you to Herbert Macaulay Way and guide you to your intended locations.

For travelers wishing to go from Adekunle to Ebute-Metta from Lagos-Ibadan, the following alternative routes are suggested:

SCENE 1:

– If you are starting your journey from the Motorways area, you’ll be diverted to Ikorodu Road via Ojota, Anthony, Onipanu, and Fadeyi. Afterward, proceed to Jibowu to access Herbert Macaulay Way, which will allow you to continue your travels.

SCENE 2

– For those departing from Gbagada, you can take the Anthony Interchange route to link up with Ikorodu Road towards Jibowu. From there, access Herbert Macaulay Way to reach your desired destinations.

SCENE 3

– Motorists traveling from Apapa-Oshodi Expressway and aiming to reach Ebute-Meta are advised to take the Oshodi Bridge route to Town Planning Way, which then connects to Ikorodu Road. Follow this route to reach your various destinations.

It is important to note that dedicated traffic and security personnel will be stationed at the construction zones and the alternative routes’ critical points.

Motorists are kindly requested to cooperate with them, exercise patience, and adhere to safety measures during the repair works.

Notably, the Third Mainland Bridge will remain fully accessible for travel, both inbound and outbound, as the closure only pertains to the Adekunle ramp.

Mr. Oluwaseun Osiyemi,
Lagos State Commissioner for Transportation.

 

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