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Lagos blue line rail to commence passenger operations in August, says LAMATA

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The Lagos Metropolitan Area Transport Authority (LAMATA) says the blue line rail system will be open for passenger operations in August 2023.

Abimbola Akinajo, the agency’s managing director, disclosed this at the LAMATA business/investor forum, according to a statement on Thursday by Kolawole Ojelabi, the authority’s corporate communication consultant.

On January 24, 2023, Nigeria’s immediate past President Muhammadu Buhari inaugurated the first phase of the blue line rail project in Lagos.

Prior to the inauguration, Babajide Sanwo-Olu, governor of Lagos, launched a test run of the project which is designed to run from Mile 2 (on the mainland) to Marina (on the island).

According to the statement, Akinajo said the test run activities would soon close, allowing for passenger operations to commence.

“I am happy to inform you that we are rounding off all testing processes for the commencement of full passenger operation in August this year. Details of the operations will be announced soon,” Akinajo said.

“The first phase of LRMT red line (Agbado to Oyingbo) is also nearing completion and we intend to commence testing and passenger operations about August 2023.”

INVESTMENT OPPORTUNITIES IN LAGOS’ TRANSPORT INFRASTRUCTURE

The LAMATA boss said a wide range of transport infrastructure has been offered to investors for branding and out-of-
homes advertising.

This, she said, was in a move to shore up revenue for the sustainability of the state’s transport network.

Akinajo said opportunities exist for investors in bus and rail advertising as well as in infrastructure such as pedestrian bridges, bus shelters, bus terminals, interchanges, and megacity bus terminals.

The managing director explained that the forum was held to call the attention of the business community to the need for a “sustainable partnership on the use of transport infrastructure for the prosperity of their businesses and for the government to earn income to strengthen transport infrastructure and provide more”.

On his part, Osa Konyeha, technical adviser on corporate and investment planning at LAMATA, said the state government was seeking investors in the development of the Abule Egba-Sango tollgate BRT corridor, a 7.6 kilometre bus route with a daily projected ridership of over 63,000 passengers.

“Also available is the Oworonsoki-Apapa BRT, a 28 kilometre route with a projected daily ridership of about 430,000 passengers,” he added.

Konyeha said the government was ready to partner with investors in the refurbishment of 300 buses that are currently non-operational and the decarbonisation of the existing fleet and transition to cleaner energy.

“In rail transportation, the government is seeking partnerships in the management of advertising and out of homes (OOH) concessions within the stations, construction, and management of multi-level car parks, skywalk bridges at Ikeja and Marina while also looking forward to concessionaires for the green and purple lines which have a combined distance of 133 kilometres,” he added.

“Investors would also have the opportunity to bid for the upgrade of bus shelters, rehabilitation and construction of the Oyingbo bus terminal, construction of Ikorodu and Maryland terminals and transport interchange facilities at Iju, Mushin, Ajah, Agege, LASU-Iba as well as Megabus terminals at Ojodu Berger, Odogunyan, Sango-Ota, Epe and Agbara.”

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Nigeria’s GDP rate grew by 3.46% in Q3 2024, says NBS

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The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.

The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.

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Dangote refinery reduces ex-depot price of petrol to N970 for oil marketers

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The Dangote Petroleum Refinery has announced a reduction in its ex-depot price of premium motor spirit (PMS), also known as petrol, to N970 per litre for oil marketers.

This is a cut from the refinery’s N990 ex-depot price announced earlier this month, according to a statement on Sunday.

The slash would help marketers save about N20 on each litre of petrol bought from the Lekki-based plant.

Anthony Chiejina, Dangote Group’s chief branding and communications officer, said the move is the refinery’s way of appreciating Nigerians “for their unwavering support in making the refinery a dream come true”.

“In addition, this is to thank the government for their support as this will complement the measures put in place to encourage domestic enterprise for our collective well-being,” the statement reads.

“While the refinery would not compromise on the quality of its petroleum products, we assure you of best quality products that are environmentally friendly and sustainable.

“We are determined to keep ramping up production to meet and surpass our domestic fuel consumption; thus, dispelling any fear of a shortfall in supply.”

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Allegation of missing fund untrue, says Access Bank

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Access Bank Limited has dismissed as untrue allegations of missing fund and unethical behaviour.

The Bank in a statement said: “Our attention has been drawn to a video on social media wherein allegations of missing funds and unethical behaviour have been made against Access Bank PLC.

“First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.

“In the instant case, the allegations of missing funds in the Bank are most untrue and baseless.

“There is no N500million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.

“We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions.

“Access Bank PLC operates with the highest ethical standards, and we protect our customers’ interests whilst also respecting privacy laws.

“Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public.

“We remain committed to serving our customers.”

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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