News
Ibadan City Master Plan Won’t Lead to Demolition, Oyo Govt. Allays Fears.
THE Oyo State Government has allayed the fears of the people of the state over the proposed Ibadan City Master plan to be unveiled by May 2017, saying that the plan is a guide towards the physical development of Ibadan as well as prevent flooding and not a demolition exercise.
The state government explained that the ongoing development of Ibadan City Master Plan is to provide direction for future expansion and identify key development opportunities, noting that the “Master Plan is to guide growth and support development and not urban renewal. So, there won’t be any form of demolition. It is not a document that promotes or recommends demolition.”
These were disclosed by the Special Adviser to Governor Abiola Ajimobi of Physical Planning and Urban Development, Alhaji Waheed Gbadamosi during a press briefing on the ongoing development of the Ibadan City Master Plan held at the Head of Service (HoS) Conference room, Secretariat, Ibadan.
Alhaji Gbadamosi, who was supported at the Press Conference by the Commissioner for Information, Culture and Tourism, Mr. Toye Arulogun and Special Adviser to the Governor of Communication and Strategy, Mr. Yomi Layinka, said that the traditional architecture and cultural landscape of the city will still be maintained.
According to him, “We are not going to tamper with the traditional homesteads and cultural landscape that typifies and beautifies the city. There won’t be demolition and we will stick with that. The aim of the Ibadan City Masterplan is to plan for the next 20 years while the vision is that: by 2036, Ibadan and its wider region will be a model sustainable and resilient city where development addresses the population’s needs, with thriving employment, providing a high quality of life for all.”
Alhaji Gbadamosi added that the Ajimobi Government set up the IBADAN URBAN FLOOD MANAGEMENT PROJECT (IUFMP) with the assistance of the WORLD BANK (WB) to prepare a master plan for Ibadan to ensure coordinated physical growth, improved socio-economic development, noting that the existing structures in place makes the city of Ibadan vulnerable to natural disasters such as flooding as witnessed on August 26th, 2011 in which many lives and properties were lost.
Gbadamosi explained “the resultant effects of this lack of robust planning, are manifested in the existing poor roads and drainage networks, in challenges of inaccessibility and in mismatched land uses. Other effects of the absence of a masterplan are the existence of slums and urban squalor, inadequate provision of social amenities/facilities like potable water supply, electricity, schools, health facilities and poor solid waste management”.
He assured that the present administration in the state will institutionalize the Master Plan to ensure that the coming administrations key into it, adding the master plan will go to the state House of Assembly for proper legislation and once it becomes a law, every administration will follow suit.
Gbadamosi said “the objectives of the Master Plan is to prevent flooding and mitigate any flooding impact caused to the settlement areas; to protect, manage and enhance the natural environment to improve connectivity and integrate with the emerging transport developments and to promote the city’s economy and attract investment and to meet the social needs and requirements of the existing and future population.
“Others to provide adequate utility infrastructure for the existing and future population; to protect and promote the cuture and heritage of the city; to enhance quality of life for all and to provide sound planning framework for efficient delivery and implementation.
“The spatial vision of the Ibadan City Master Plan is also underpinned by a set of principles which has informed all stages of the Master Plan development and implementation. The principles framing the vision are Sustainable City, Connected City, Cultural City, Resilient City, Green City and the Enterprising City,” Alhaji Gbadamosi expatiated.
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The headquarters of Heritage Bank at Victoria Island, Lagos, was besieged on Thursday by members of the labour union, protesting the recent dismissal of 1,000 support workers.
The National President of the National Union of Banks, Insurance and Financial Institutions Employees, Comrade Anthony Abakpa, led the demonstration, condemning the bank’s management for what he deemed a lack of adherence to due process in the termination of employment contracts.
Speaking during the protest, Comrade Abakpa asserted that the leadership of Heritage Bank failed to follow established protocols before executing the mass layoffs.
He emphasised the union’s commitment to pursuing justice for the affected workers, vowing to escalate their demands until the bank’s management rectifies the situation.
“We will intensify our demands for justice,” declared Comrade Abakpa, urging the bank’s management to take corrective action to address the grievances of the dismissed workers.
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, clarified that Nigeria is not utilising its foreign reserves to bolster the naira, despite recent fluctuations in reserve levels.
Speaking from Washington DC, where he is attending the International Monetary Fund-World Bank Spring Meetings, Cardoso highlighted the influx of $600 million into Nigeria’s reserves account within the past two days.
While the naira has experienced a notable appreciation against the dollar in recent weeks, climbing over 40% from approximately N1,900/$ to about N1,000/$1, Nigeria’s foreign reserves have been dwindling. As of April 15, reserves dropped to approximately $32.29 billion, marking the lowest level in over six years.
Cardoso emphasised that the shifts in reserves are typical for any country, where various financial obligations, such as debt repayments, necessitate withdrawals.
He stated, “What you’ve seen with respect to the shift in our reserves is normal in any country’s reserves where, for example, debts are due and certain payments need to be made. They are made because that is also part of keeping your credibility.”
Continuing, Cardoso underscored the dynamic nature of the market, advocating for a system driven by willing buyers, willing sellers, and price discovery.
He emphasised, “The shift in our reserves has really little or nothing to do with defending the naira, and that is certainly not our objective.”
Dangote Petroleum Refinery has made headlines by announcing a further reduction in the price of diesel, dropping it from ₦1200 to ₦1000 naira per litre.
The refinery’s decision comes on the heels of its recent supply at a significantly reduced price of ₦1200 per litre, which was introduced three weeks ago, signifying a remarkable 30 per cent decrease from the previous market price of approximately ₦1600 per litre.
This substantial reduction in diesel prices at Dangote Petroleum Refinery is expected to reiterate positively throughout various sectors of the economy, potentially serving as a catalyst in alleviating the persistently high inflation rate in the country.
In a statement last week, Aliko Dangote, Africa’s wealthiest individual and the owner of the refinery, expressed his optimism regarding the potential impact of the price reduction on inflation in Nigeria.
“I believe that we are on the right track. I believe Nigerians have been patient, and I also believe that a lot of goodies will now come through. There’s quite a lot of improvement because if you look at it, one of the major issues that we’ve had was the naira devaluation that has gone very aggressively up to about ₦1900,” he remarked.
As anticipation builds around the implications of this move by Dangote Petroleum Refinery, stakeholders and consumers alike remain hopeful for the positive effects it could bring to the Nigerian economy in the coming months.
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