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Makinde promises to deliver Ibadan Circular Road before May 2023 –

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Oyo State Governor, Mr. Seyi Makinde, has said that his administration will complete the 32-kilometre stretch, First Phase of Ibadan Circular Road, before the end of his tenure on May 28, 2023.

The governor, who stated this during a tour of the project, said that his administration had to sack the contractor inherited from the previous administration due to unsatisfactory slow pace of work.

According to him, the contractor would be unable to deliver the road in another 20 years if allowed to continue at the slow pace.

A statement by the Chief Press Secretary to the governor, Taiwo Adisa, stated that the governor, however, promised to pay the sacked contractor for evaluated work done.

As at the time of the governor made the on-the-spot assessment, according to Adisa only two kilometres of the 32-kilometre road had been tarred at the level of wearing cost by ENL Consortium Construction company.

“We have terminated the initial arrangement. This is the road that we think will change the economy of Oyo State substantially but the previous contractor, if we had continue with their pace, maybe they may finish in another 20 years”, the governor said.

Makinde noted that the government has been asking the contractor to do joint valuation because his administration does not want to destroy anyone’s business, adding that the government will ensure that the contractor is reimbursed when the evaluation is completed.

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He added: “Now, we are asking them to do joint valuation because we are not here to destroy anyone’s business. Of course, money has been spent and we have to ensure that whatever has been put into to this, we will reimburse the previous contractor.

“So, we have an appreciation of what we need to do to ensure that this kicks off almost immediately and then it can meet our target.”

He added that his administration will make sure that the road is completed and delivered within his tenure, adding that the road will be concessioned but government will have some involvement in it.

“This 32km portion must be delivered within this first tenure of this administration. We are still going to concession it, because the previous administration left it 100 per cent to the concessionaire, which we thought was a mistake.

“We definitely will have some form of involvement of the Oyo State Government with a new concessionaire. We will take certain percentage for Oyo State Government and, that way, the government is carried along every step of the way”.

While speaking on the Old Ife/Airport/Sawmill Road, the governor said the contractor has just revised his schedule and that the job will be completed in October 2021.

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He declared that his government will continually inspect and push contractors hard on infrastructure projects.

“They (the contractors) just revised their schedule and that job should be completed and delivered by October of this year. So, we will stay on their back and ensure it is delivered as scheduled”, he added.

 

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Senate Approves Tinubu’s $500m Loan for Power Sector Boost

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The Nigerian Senate has approved President Bola Tinubu’s $500 million loan request intended to bolster the operations of the Bureau of Public Enterprises (BPE) to enhance the financial and technical performance of electricity distribution companies, ultimately benefiting citizens.

The endorsement, announced on Tuesday, follows a thorough examination of the report presented by Senator Aliyu Wamakko, who heads the Senate Committee on Local and Foreign Debts overseeing the 2022 – 2024 External Borrowing (Rolling) Plan specifically for the Bureau of Public Enterprises (BPE).

During the presentation of the report, Senator Haruna Manu, serving as the Vice Chairman of the Committee, emphasised the importance for the Senate to duly receive and deliberate upon the report of the Committee on Local and Foreign Debts concerning the 2022 – 2024 External Borrowing (Rolling) Plan for the Bureau of Public Enterprises (BPE).

The $500 million loan constitutes a portion of the $7.94 billion loan originally requested by President Bola Tinubu on November 1st, 2023, within the framework of the 2022-2024 external borrowing plan. In addition to the $500 million, President Tinubu also sought approval for a €100 million loan.

However, during a special plenary session on December 30, the Senate greenlit the borrowing of $7.4 billion after careful consideration of the report furnished by the Committee on Local and Foreign Debt.

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Melinda Gates Resigns from Gates Foundation, Set to Receive $12.5 Billion

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In this file photo taken on September 26, 2018, Bill Gates and his ex-wife, Melinda Gates, introduce the goalkeepers event at the Lincoln Center in New York. Ludovic MARIN / AFP

Melinda French Gates announced Monday she was leaving the philanthropy mega foundation she established with her ex-husband, Microsoft co-founder Bill Gates.

The resignation, which becomes effective on June 7, will leave Bill Gates as the sole chair of one of the world’s most influential and powerful non-governmental organizations.

“After careful thought and reflection, I have decided to resign from my role as co-chair of the Bill & Melinda Gates Foundation,” Melinda French Gates wrote in a statement posted on social media.

The statement gave no reason for her departure, but noted that “under the terms of my agreement with Bill, in leaving the foundation, I will have an additional $12.5 billion to commit to my work on behalf of women and families.”

The couple married in 1994 but announced their divorce in 2021.

They had continued to co-chair the foundation which they established in 2001 with the vast wealth acquired through the success of Microsoft.

With a focus on child poverty and preventable diseases, the foundation has been heavily involved in fighting malaria and in providing toilets and sanitation in poorer parts of the world.

The foundation’s website says it has spent $53.8 billion since 2000, and claims the number of children around the world who die before their fifth birthday has halved in this time.

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Bill Gates thanked his ex-wife for her “critical contributions” to the organization.

“As a co-founder and co-chair Melinda has been instrumental in shaping our strategies and initiatives, significantly impacting global health and gender equality,” he said.

“I am sorry to see Melinda leave, but I am sure she will have a huge impact in her future philanthropic work.”

The organization’s chief executive, Mark Suzman, said its name would change to simply the Gates Foundation — it has been known as The Bill & Melinda Gates Foundation.

“I truly admire Melinda, and the critical role she has played in starting the foundation and in setting our values, she has played an essential role in all that we’ve accomplished over the past 24 years,” he said in a video posted to social media.

“I will miss working with her and learning from her. I look forward to seeing her continued impact.”

 

 

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EFCC calls on banks’ compliance officers to uphold confidentiality

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The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has urged Compliance Officers of Banks nationwide to refrain from unauthorised disclosure of EFCC’s investigative activities and requests made to banks’ customers.

Speaking through the Acting Zonal Director of the Ibadan Zonal Command of the EFCC, ACE I Hauwa Garba Ringim, during a stakeholders’ meeting with Compliance Officers of Banks in Oyo State on Tuesday, Olukoyede emphasised the detrimental impact such disclosures have on the investigation of financial crimes and the timely filing of corruption cases in court.

Olukoyede expressed concern over the tacit support fraudsters receive from the Nigerian banking sector, highlighting the challenges it poses to the Commission.

He urged Compliance Officers to promptly respond to EFCC’s correspondence with certified true copies of relevant documents, as this facilitates swift investigation processes.

Also, Olukoyede addressed the illegal trading of naira with Point-of-sale (POS) operators, stressing the need to curtail such practices for the benefit of Nigerians.

In response to the chairman’s directives, Compliance Officers assured the EFCC of their unwavering support and commitment to enhancing collaboration between the Commission and banks for more effective anti-corruption efforts.

 

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