News
FG Inaugurates Project Management Office For Implementation of N110B NYIF
Joel Ajayi
Federal Government has inaugurated a Project Management Office (PMO) for the Nigerian Youth Investment Fund (NYIF), comprising technical persons from the government and the private sector, to manage the implementation of the N110 billion fund.
During the inauguration that was held in her office at Abuja, the Hon. Minister, Ministry of Youth Development, Dr. Jamila Bio Ibrahim stated that the project management office members are responsible for ensuring that they meet Mr. President’s expectations, which include providing sustainable ways for young innovative Nigerians to access capital for starting, growing, and expanding their businesses.
The Minister emphasized that the fund is crucial for achieving key aspects of Mr. President’s ‘Renewed Hope Agenda,’ especially in eradicating poverty, ensuring food security, promoting sustainable economic growth, and most importantly, increasing access to capital.
She said: “Members of the Project Management Office should note that any strategy that will be effective must be one that will ease the burden currently experienced by large numbers of Nigerian youth in accessing finance to become self-employed. Such a strategy also needs to provide opportunities for developing their entrepreneurial skills, access to markets, and mentorship, in such a manner that will guide their transition into the challenging business environment and support their growth and sustainability.”
Dr. Ibrahim maintained that the restructured NYIF will be implemented with professionalism, fairness, and utmost integrity. She also stated that timely and results-based implementation are crucial, and she will be requesting periodic briefs and evidence-based updates throughout the process.
She urged the team to follow her vision of establishing a formalized fund that would not only offer access to funding for a substantial number of Nigerian youth, but also provide mentorship and other business support services.
The Honourable Minister explained the importance of including vulnerable groups and underserved communities, as well as ensuring a fast application and fund disbursement process.
“I expect you to hit the ground running and deliver short-term results within the next three to four weeks. At that time, I expect all activities to have been concluded to commence the first tranche of disbursement,” she stated.
In his welcome address, Mr. Olusanya Olubunmi, the Permanent Secretary of the Ministry, tasked the Project Management Office with the responsibility of overseeing the National Youth Investment Fund (NYIF) to ensure it achieves its set objectives. He urged members to adhere to the Public Service Rule and Financial Regulations and to manage the fund in accordance with the approved conclusion of the Federal Executive Council (FEC).
Mr. Olusanya assured members of the Project Management Office of the Ministry’s cooperation and support in the discharge of their duties and wished them success in implementing the NYIF.
The National Coordinator of the Project Management Office, Olopade Hakeem expressed gratitude to the President for prioritizing the project and to the Minister for advocating for the youth in the country.
He also thanked all members of the Executive Council for unanimously and judiciously approving the sum of N110 billion for the programme.
Mr. Hakeem pledged to carry out their responsibilities professionally, accountably, and transparently in engaging the youth of the country and expressed openness to ideas for moving the project forward.
News
FG Commits To National Development With Major Contract Agreements — Umahi
Joel Ajayi
The Federal Government, through the Federal Ministry of Works, has again signed landmark contract agreements with four (4) construction firms to execute critical road projects across the country, in line with the Renewed Hope Agenda of the administration of President Bola Ahmed Tinubu, GCFR. The contract signing ceremony, held on Thursday at the Ministry’s Headquarters in Mabushi, Abuja, marks another major step in the Federal Government’s commitment to delivering durable, sustainable road infrastructure that enhances connectivity, stimulates economic growth, and improves the quality of life of Nigerians.
The four contractors and their respective projects are as follows:
1. Messrs J. Patel and Sons Nigeria Limited – Reconstruction of Mando (Kaduna) – Birnin Gwari Road in Kaduna State,
2. Messrs JRB Construction Company Limited – Dualisation of Ibadan–Ijebu Ode Road in Oyo and Ogun States,
3. Messrs Truecrete Solutions Limited – Construction of Osogbo–Ikirun–Akoda Road in Osun State and
4. Messrs Peculiar Ultimate Concerns Limited – Construction of Osogbo–Iwo–Ibadan Road in Osun and Oyo States.
Speaking during the event, the Honourable Minister of Works, Engr. David Umahi, CON, FNSE, FNATE, described the projects as strategic national infrastructure designed to boost economic activities, improve transportation efficiency, and strengthen national integration. He noted that the reconstruction of the Mando (Kaduna) –Birnin Gwari Road in Kaduna State holds special significance, as it was one of the key infrastructure development commitments made by His Excellency, President Tinubu during the 2022/2023 electioneering campaigns. According to the Minister, the present administration remains resolute in its determination to deliver world-class infrastructure that will stand the test of time. “Our vision is to build roads that will last for generations. Under the Renewed Hope administration, we are determined to deliver infrastructure that can serve Nigerians for up to 100 years through the adoption of rigid pavement (concrete) technology,” Umahi stated.
The Minister commended the selected contractors for their competence, track records, and proven capacity, emphasising the Federal Government’s confidence in indigenous contractors. He particularly praised Messrs JRB Construction Company Limited, Truecrete Solutions Limited, and other indigenous firms for their commendable performances on previous projects across the country.
Umahi charged all contractors to mobilise to their respective project sites immediately and commence work without delay, stressing that the Ministry expects measurable progress within the stipulated timelines.
Earlier in his remarks, the Permanent Secretary, Mr. Rafiu Olarinre Adeladan, who formally signed the contract agreements, described the occasion as the successful completion of the procurement process and the official commencement of project implementation.
He commended the leadership of the Ministry for its commitment to ensuring that projects reached the execution stage and reaffirmed the Ministry’s dedication to effective monitoring, quality assurance, and timely delivery.
Also speaking, the Director of Highways, Construction and Rehabilitation, Mr. Clement Ogbuagu, presented details of the awarded contracts as follows:
1. Reconstruction of Mando–Birnin Gwari Road, Kaduna State
Contractor: Messrs J. Patel and Sons Nigeria Limited
Contract Sum: ₦178,116,787,162.00
Length: 122 Kilometres
2. Dualisation of Ibadan–Ijebu Ode Road, Oyo and Ogun States
Contractor: JRB Construction Company Limited,
Contract Sum: ₦295,996,609,992.77
Length: 114.5 Kilometres (Single Carriageway Equivalent)
3. Construction of Osogbo–Ikirun–Akoda Road, Osun State
Contractor: Truecrete Solutions Limited
Contract Sum: ₦101,806,585,825.90
Length: 70 Kilometres (Single Carriageway Equivalent) and
4. Construction of Osogbo–Iwo–Ibadan Road, Osun State
Contractor: Peculiar Ultimate Concerns Limited
Contract Sum: ₦114,854,477,607.93
Length: 73 Kilometres
All the projects will be executed using Continuously Reinforced Concrete Pavement (CRCP) technology, in line with the Federal Government’s commitment to building durable, cost-effective, and sustainable road infrastructure nationwide.
The ceremony represents another significant milestone in the Federal Government’s drive to modernise Nigeria’s road network and accelerate national economic development.
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