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Joseph Olaoluwa
The Oworonshoki bound lane of the Third Mainland Bridge will be closed totally to vehicular movement by midnight on Saturday, February 6 till 7pm on Sunday, February 7 to remove the last expansion joint on the Oworonshoki bound lane.
The Commissioner for Transportation, Dr Frederic Oladeinde, stated that the rehabilitation process was being done assiduously to ensure set deadlines were met.
Motorists from Ogudu, Alapere and Gbagada were advised to use Ikorodu Road, Jibowu and Yaba as alternative routes, while Iyana Oworosoki bound traffic from the Lagos Island, Iddo, Oyingbo, Adekunle and Yaba should use Herbert Macaulay Way, Jibowu and Ikorodu road as alternative routes.
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Joseph Olaoluwa
The Federal Government has pledged its commitment to improving revenue generation and enhancing economic competitiveness in the country.
The Minister of Finance, Zainab Ahmed, made the pledge on a virtual platform on Monday during the Executive Roundtable on the Finance Act 2020 and Economic Outlook for 2021 organised by PricewaterhouseCoopers.
In her opening remarks, she said, “The Federal Government of Nigeria will continue to champion economic policies aimed at improving revenue generation, enhancing economy competitiveness, encouraging domestic investors and enhancing macroeconomic stability despite the significant challenges posed by COVID-19.
“This administration is committed to stimulating economic growth by fostering economic resilience in our business communities and broader economy in line with the thematic thrust of the 2021 budget.
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Olalekan Adetayo, Femi Asu, Joseph Olaoluwa and Daud Olatunji
The Presidency on Sunday warned Nigerians to continue to observe the guidelines released to curtail further spread of COVID-19 in order to avert fresh lockdown.
The Senior Special Assistant to the President on Media and Publicity, Garba Shehu, said this in a statement titled, ‘Presidency: Nigerians should comply with mandatory mask wearing to avert lockdowns.’
But the Lagos Chamber of Commerce and Industry warned against second lockdown, saying government should ensure strict enforcement of protocols.
Nurses on their part said the Federal Government should lock down if cases continued to rise.
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Joseph Olaoluwa
The naira will weaken in the parallel market and likely depreciate to 470 against the dollar in 2021, if oil prices stay at $50 per barrel, Nigerian economist, Mr Bismarck Rewane, has said.
Rewane stated this in his presentation at a virtual forum tagged ‘Vantage Forum 2021’, organised by the Elevation Church on Saturday.
According to Rewane, this is a worst-case scenario for 2021 in the case Nigeria produces a 1.5 million barrels per day with inflation rate of 16.15 per cent in the full year.
He said, “In the worst-case scenario, it goes the other way, in all cases you find that the average exchange rate at the end of the year officially will be at 470 in the parallel market and the Central Bank of Nigeria about 420, bringing the average to 438.”