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Yuletide: Works Minister, Umahi Orders Key Highways to Remain Open

Published

2 weeks ago

December 24, 2025

Joel Ajayi

The Minister of Works, Engr. David Umahi, has directed contractors handling federal highways to remain on site throughout the festive season to guarantee free and uninterrupted movement of vehicles nationwide.

Umahi gave the directive during a meeting with road contractors in Abuja, warning that no construction site on major highways should be shut down without prior approval from the Ministry of Works. The order covers key routes such as the Abuja–Lokoja, Lagos–Port Harcourt, Abuja–Kano and Keffi–Makurdi expressways, among others.

He said the decision followed the recent hardship experienced by motorists on the Abuja–Lokoja road, where prolonged traffic congestion left travellers stranded for hours, with many forced to spend the night on the highway.

The minister described the incident—triggered by a clash between truck drivers and security personnel—as unacceptable and stressed that such disruptions must not recur during the yuletide travel rush.

Umahi urged contractors to ensure that ongoing construction does not hinder traffic flow, noting that public safety and convenience must take precedence, especially during peak travel periods. He added that the Federal Government was concerned about the embarrassment caused by avoidable road disruptions.

On funding, the minister disclosed that the Federal Government has directed the Nigerian National Petroleum Company Limited (NNPCL) to release ₦263 billion for payment to contractors. He revealed that outstanding liabilities owed to road contractors from 2023 to date stand at about ₦2.13 trillion, stressing that payments would only be made after proper verification of claims.

Umahi explained that contractors handling inherited NNPCL Tax Credit projects must formally disengage from their previous contractual arrangements before receiving payments through the Ministry of Works. He noted that President Bola Ahmed Tinubu has approved the continuation of all such projects, with payment responsibility now transferred to the ministry.

The minister also announced plans to strengthen project monitoring, revealing that from 2026, senior and regional directors would be assigned specific projects for direct supervision. He added that full digitalisation of the ministry’s operations would become mandatory to enhance transparency, accountability and efficiency.

He further stated that debts incurred before his appointment would be subjected to scrutiny by relevant oversight and anti-corruption agencies before any payments are approved. Umahi expressed concern over the slow pace of work on some legacy projects, describing it as a major setback to infrastructure development.

Meanwhile, the Minister of State for Works, Barrister Bello Goronyo, announced a shift in the operational focus of the Federal Roads Maintenance Agency (FERMA). He said that from 2026, the agency would concentrate strictly on major road repairs and the reconstruction of collapsed bridges, rather than minor installations such as solar streetlights.

Goronyo also directed that concrete technology should replace asphalt in FERMA’s repair works, stressing that Nigerians expect durable and visible results. He warned that the agency must remain fully active on the field, adding that delays and substandard performance would no longer be tolerated.

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President Tinubu Praises NGX’s ₦100 Trillion Feat, Advocates Stronger Domestic Investment Culture

Published

12 hours ago

January 9, 2026

The Gleamer

Joel Ajayi

President Bola Tinubu has praised corporate Nigeria, citizens, and other stakeholders in the Nigerian capital market for surpassing the N100 trillion milestone on the Nigerian Exchange (NGX).
In a statement issued on Thursday by Special Adviser to the President (Information & Strategy)Bayo Onanuga, President Tinubu described this record achievement as an inspiration for the investing public operating in the money and capital markets.

He urged Nigerians to deepen their investments in the local economy, assuring that 2026 will yield even greater returns as his administration’s economic reforms continue to deliver stronger outcomes.

“With the Nigerian Exchange (NGX) crossing the historic N100 trillion market capitalisation mark, the country is witnessing the birth of a new economic reality and rejuvenation.

“In 2025, while many of the world’s markets struggled with stagnation or tepid recovery, the NGX All-Share Index was on the ascent. It closed 2025 with a 51.19% return, higher than the 37.65% recorded in 2024. This performance ranks among the highest in the world. Year-to-date returns have significantly outpaced the S&P 500, the FTSE 100, and even many of our emerging-market peers in the BRICS+ group.

“Nigeria is no longer a frontier market to be ignored—it is now a compelling destination where value is being discovered. As the stock market reflects the entire economy, its stellar performance is a significant indicator of the country’s economic health and the confidence investors have in our economy

“On the NGX, we have witnessed remarkable performances from listed companies across all sectors. From blue-chip industrial giants that have localised their supply chains, to a banking sector that has demonstrated resilience and technological innovation, Nigerian companies are proving that the country can deliver strong returns on investment.

“And we are just getting started. The pipeline for new and upcoming listings looks robust. More indigenous energy firms, tech unicorns, telecoms, and infrastructure-heavy entities are seeking to access the public market to fund their expansion. As these firms are listed, they will boost market capitalisation and deepen democratic ownership of the Nigerian economy.

“We are not celebrating the superlative stock market performance in isolation. We are also celebrating the microeconomic effects of our reforms. After the initial headwinds that followed our reforms, we are finally seeing a bend in the inflation curve. Crucial monetary tightening and the removal of distortionary ‘Ways and Means’ financing have restored stability to the Naira. Furthermore, investments in the agriculture sector have contributed to a consistent decline in inflation over the past eight months. From a 24-month high of 34.8% in December 2024, inflation decelerated to 14.45% as of November 2025,

November 2025, with projections indicating it will reach 12% in 2026. Indeed, inflation is likely to fall below 10 per cent before the end of this year, leading to improved living standards and accelerated GDP growth. The year 2026 promises to be an epochal year for delivering prosperity to all Nigerians.

“Also noteworthy is the status of our nation’s current account, a valid measure of our overall economic health. In 2024, Nigeria posted a surplus of $16 billion. According to the Central Bank of Nigeria (CBN), our current account balance is projected to rise to $18.81 billion in 2026, up from $16.94 billion in 2025.

“Under our administration, Nigeria is exporting more and importing less of what we can produce locally. Non-oil exports surged by 48% by the third quarter of 2025, totalling N9.2 trillion. Exports to Africa alone rose by 97% to N4.9 trillion. Manufacturing exports increased by 67% year-on-year in the second quarter of 2025, suggesting a strong close to the year.

“Nigeria’s foreign reserves have crossed the $45 billion mark, giving the Central Bank the firepower to maintain stability. The Naira has stabilised, moving away from the volatility that once fuelled speculation. The Central Bank of Nigeria, in its latest outlook, projects foreign reserves will cross the $50 billion threshold in the first quarter of 2026.

“We are also seeing an expansion of the rail networks, the completion of major arterial roads and the revitalisation of our ports. With the transformative Lagos-Calabar, Sokoto-Badagry superhighways” the nation’s infrastructure is growing.
“Our medicare facilities are improving, and medical tourism costs are declining. Our students benefit from the Nigeria Education Loan Fund (NELFUND), and universities are receiving increased research grants.

“Nation-building is a process, not a destination. Hard work, sacrifices, and the focus of its citizens build a nation. The N100 trillion market capitalisation is a signal to the world that the Nigerian economy is robust and productive.

“As your leader, I pledge to continue working unrelentingly to build an egalitarian, transparent, and high-growth economy that will be further catalysed by the historic tax and fiscal reforms that came into full implementation from January 1,” President Tinubu said.

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