News
Akpabio secures N10bn Sukuk funding for East West road
Minister, Niger Delta Affairs Ministry, Sen. Godswill Akpabio has secured the sum of N10.4bn for the completion of construction work on the East- West road, from the 2021 Sovereign Sukuk Issuance.
In his remarks before he was presented with the cheque by the Minister of Finance, Budget and National Planning, Dr (Mrs) Zainab Shamsuna Ahmed, in Abuja, the nation’s capital on Thursday, Akpabio, who spoke through his Permanent Secretary, Dr Ardo Babayo, thanked his Finance counterpart for her support for the Ministry and by extension, the Niger Delta Region.
According to him, ” let me acknowledge the support and effort of the Hon Minister of Finance, Budget and National Planning, for the Ministry of Niger Delta Affairs and the people of the region. The Eleme Junction to Onne, a 15 kilometer section of the East- West was abandoned because of lack of funds and that was why we went to Sukuk through the Ministry.
” We also recall that during the 2021 budget presentation, it was agreed that the Ministry of Niger Delta Affairs will contribute the sum of N10bn from its meagre N19bn for capital projects, with the understanding that the Ministry of Finance would add N35bn and NIger Delta Development Commission (NDDC) N35bn, making N80bn for the completion and commissioning of that road by President Muhammadu Buhari this year 2022.”
” Before now, the Niger Delta Ministry had mobilised the RCC for necessary repairs on the collapsed portion of the road, as a stop gap measure, for easy vehicular and human movements. The Eleme Junction had to be redesigned to accommodate the Power Station that was not there when the road was contemplated in 2006,” he stressed.
Speaking further, the Minister said, “we are here today to collect the N10bn of that money from the Ministry of Finance, we are also waiting for the balance of N25bn, while the NDDC would remit its own support when its finance improves”
” Sometimes in October last year, there was a presidential directive that we transfer the road to the Ministry of Works and the Minister, Niger Delta Affairs, has commenced talks with his Works counterpart in that regard. Let me also appreciate the effort of the Debt Management Office (DMO). We hope that the outstanding sum of N65bn would be released in due course, ” he stated.
Speaking at the symbolic Cheque presentation ceremony for the 2021 Sovereign Sukuk Issuance, the Finance Minister, said,” today’s event of N250bn disbursement is the 4th in the circles since 2017 that the special funding for reconstruction, rehabilitation of roads and other key infrastructure as directed by President Buhari. I acknowlege the support of the various chambers of the National Assembly to the success of this event of today.”
Jackson Udom, Chief Press Secretary To The Minister, Niger Delta Affairs Ministry, Abuja
China has announced a sharp increase in tariffs on US imports, raising the rate from 34 percent to 84 percent, in response to new American trade measures that came into effect on Wednesday.
The decision, confirmed by China’s finance ministry, will take effect from 12:01 p.m. on Thursday. It follows the imposition of sweeping new US tariffs under President Donald Trump, including a hefty 104 percent duty on certain Chinese goods.
“The tariff escalation against China by the United States simply piles mistakes on top of mistakes and severely infringes on China’s legitimate rights and interests,” the ministry said in a strongly worded statement, warning of “firm and forceful” countermeasures.
Beijing has long opposed the increasing use of tariffs as a tool in trade disputes, and accused Washington of undermining the multilateral rules-based global trading system.
In a related move, China’s commerce ministry also announced it would blacklist six American artificial intelligence companies, including Shield AI Inc. and Sierra Nevada Corporation. The companies were accused of either supplying arms to Taiwan or collaborating with the island on military technology.
Chairman of the House of Representatives Committee on Federal Roads Maintenance Agency (FERMA), Engr. Aderemi Oseni has expressed deep sorrow over the passing of former Oyo State Governor, Dr. Omololu Olunloyo, describing his death as a monumental loss to the people of Oyo State and Nigeria at large.
In a condolence message made available to the press on Sunday, in Ibadan by his media aide, Idowu Ayodele, the lawmaker eulogised the late elder statesman as a distinguished scholar, consummate public administrator, and one of Nigeria’s most intellectually gifted leaders whose legacy would continue to inspire generations.
Dr. Olunloyo, who served as governor of Oyo State during the Second Republic, was reported dead at the age of 89. He was widely respected for his brilliance, administrative acumen, and unmatched depth in mathematics and public discourse.
Oseni noted that the late governor’s contributions to the development of Oyo State, particularly in the areas of education, governance, and intellectual engagement, are indelible footprints in the sands of time.
“We have lost a gem. Dr. Olunloyo was not just a leader, he was a father figure and a repository of wisdom. His demise is a personal loss to me and all lovers of progress and excellence in our society,” he stated.
While commiserating with the Olunloyo family, the people of Ibadan, and the entire Oyo State, he prayed for the peaceful repose of the departed soul and urged all to take solace in the rich and impactful life he lived.
Member representing Ibarapa East/Ido Federal Constituency in the House of Representatives and Chairman, House Committee on Federal Roads Maintenance Agency (FERMA), Engr. Aderemi Oseni has extended his heartfelt congratulations to Chief Sulaimon Ajeniyi Ajewole and other members of the Central Council of Ibadan Indigenes (CCII) executives on their re-election.
Chief Ajewole was returned as the President-General of the apex Ibadan socio-cultural association, alongside other members of the executive council, who were all given the mandate to continue piloting the affairs of the association for another two-year term.
In a congratulatory message issued through his media aide, Idowu Ayodele, Oseni described the re-election of the Ajewole-led team as a reflection of the trust and confidence reposed in their leadership by the Ibadan indigenes at home and in the diaspora.
He commended the CCII leadership for its unwavering commitment to the progress, unity, and cultural advancement of Ibadanland while expressing optimism that the renewed mandate would further propel the association to greater heights.
“The re-election of Chief Ajewole and his team is not only a testament to their sterling performance over the last term but also an affirmation of their capacity to continue serving the interest of Ibadan indigenes. I extend my warmest congratulations and best wishes for a more impactful tenure,” he said.
The lawmaker further assured the CCII of his continued support for any initiative geared towards the development of Ibadanland and the preservation of its rich heritage.
The CCII is renowned for its pivotal role in mobilising Ibadan sons and daughters towards the socio-economic development of the65 ancient city and beyond.
