News
Project Inspection: Minister Chides Contractor
Joel Ajayi
In continuation of his inspection of projects in the South-South geopolitical zone, the Minister of Works, Engr. Nweze David Umahi, CON, FNSE, FNATE visited ongoing works on the Dualisation of East-West Road, Section II-II (Ahoada-Kaiama) and the Construction of Multiple Box Culverts at Flood Affected Areas on East-West Road, Section II-II (Ahoada-Kaiama) in Rivers and Bayelsa States, yesterday, Wednesday, 8th January, 2025.
Engr. Umahi disclosed that he was highly impressed with the quality of work on Section II-II (Ahoada-Kaiama) by Messrs Setraco (Nig.) Ltd. but directed them to speed up the process through the addition of more resources to the job.
He reminded them that the April, 2025 delivery date remains sacrosanct.
He directed that due to the nature of the soil in the areas affected by floods, where box culverts are being constructed, continuously reinforced concrete pavement (CRCP) should be used. The affected area is about 2.3 kilometres.
The Project Manager of Setraco, Engr. Isaa Michel, while appreciating the Minister for the site inspection and the savory, as well as unsavoury comments, promised to hasten the pace of work, to meet the dateline.
The Minister was also at the site of the Construction of Multiple Box Culverts on the East-West Road being handled by Messrs Rock Result (Nig.) Ltd., where he praised the standard of work but frowned at the level of work achieved.
He expressed his disappointment with the pace, stating that the contract was scheduled for finishing by November, 2024 but was extended to December and is still uncompleted. He, therefore, gave the contractor up till the end of January, 2025 to complete it or it stands revoked.
Engr. Umahi informed the contractor that the provision of roads and bridges remains a top priority of the Renewed Hope Infrastructure Revolution of the administration of His Excellency, President Bola Ahmed Tinubu, GCFR. He advised them to up their games or be left at the bus stop.
News
Ogunlesi backs Tinubu reforms as FIRS chairman Adedeji highlights export-led economy
Joel Ajayi
After a high-level meeting with President Bola Tinubu in Abuja, Nigerian-born global investor Adebayo Ogunlesi expressed renewed confidence in the country’s economic reforms, indicating potential mega investments across energy, aviation, and port sectors.
He was joined in that optimism by Zacch Adedeji, Executive Chairman of the Federal Inland Revenue Service (FIRS), who stressed that the reforms were laying the groundwork for an export-driven economy.
Speaking to journalists after the closed-door meeting, Ogunlesi praised the sweeping policy changes under Tinubu’s administration, including the removal of subsidies, tax reforms, and the revival of a refinery already exporting aviation fuel.
“We had an excellent meeting where we discussed how to put Nigeria front and center for international investment. The President was very encouraging, and we shared useful suggestions on driving economic growth,” Ogunlesi said.
Although he declined to reveal specific details, Ogunlesi confirmed that his firm is actively investing in Nigeria and assessing new opportunities.
“Watch this space. Nigeria is not yet the most exciting investment destination, but that’s what we are working on,” he teased.
Pressed on the sectors of interest, Ogunlesi highlighted energy, gas, aviation, ports, and renewables. Drawing on his firm’s experience with LNG projects in Texas and Australia, he noted Nigeria’s massive untapped gas reserves.
On aviation, he acknowledged his reputation as “the guy who bought Gatwick Airport” and signaled interest in similar ventures locally.
He also admitted that one of his companies operates ports in Cotonou and Lomé but none in Nigeria, a point Tinubu reportedly challenged him on.
“He forgave me but said, ‘you have to bring port investment to Nigeria,’” Ogunlesi recounted with a smile.
International investor Hakeem Bello-Osagie, who was also present, underscored the importance of diaspora participation in Nigeria’s growth story.
“When Nigerians at home and abroad invest in Nigeria, it sends a strong signal to the world,” he said, lauding Tinubu’s policies for making the country “investable.”
Echoing the sentiment, FIRS chairman Adedeji described the reforms as the foundation for an export-led economy.
“We’ve done the fundamentals, and now it is time to deliver growth,” he said.
With global players signaling confidence, the momentum for Nigeria’s economic repositioning is gaining ground, setting the stage for transformative investments in key industries.
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