Business

Nigeria loses more than 140 billion weekly to Apapa gridlock – Aliko Dangote

Published

8 years ago

June 21, 2017

Aliko Dangote allegedly broke, unable to complete refinery by 2023

President of Dangote Group, Aliko Dangote has lauded the decision of the Federal Government to reconstruct the failed Apapa Wharf road as its grim state serves as both an embarrassment to the country and a huge financial loss to the government on a weekly basis.

Dangote who spoke on Tuesday said “The economy loses more than 20 billion daily and it affects all businesses across the country. All our operations in the hinterland in Ilorin, in Kano are operating at 40 per cent maximum capacity”

Lamenting the state of road infrastructure in the country, Dangote said: “Today there is no linkage road going from South West to the North. You have to go all the way through Ajaokuta, Obajana, lokoja and you have to go by the uncompleted road Obasanjo started 13years ago.”

Commenting on his resolve to personally get involved in the Apapa Wharf road reconstruction, he said: “Because it is very embarrassing! We can’t just sit and have a road like that in the heart of trade in Nigeria. More than 60 per cent of our country’s import and exports come through the port and we leave it un-attended. That is why we started on our own. Flour mills said they will join us, but now government changed the design because they want all the cables and pipes underground and to have a more robust solution.”

Commenting on why he is personally involved in the Apapa Wharf road reconstruction, he said: “Because it is very embarrassing! We can’t just sit and have a road like that in the heart of trade in Nigeria. More than 60 per cent of our country’s import and exports come through the port and we cannot leave it un-attended. That is why we are invested in this project. The government also changed the design because they want all the cables and pipes underground and to have a more robust and sustainable solution to this problem.”

To help in bringing the cost down, he explained that he forced his company to do it at zero profit. According to him, “We will be spending 2.5billion and also Flour Mills for reconstructing 2km double lane in Apapa on each side making a total of 4km” He further explained that “the biggest job is drainage because that is what is destroying the road. We will make sure this problem is sorted out once and for all. This thing should not be allowed to happen. We started discussion with the government over 1year and we are happy that we have been given the opportunity to finally fix it.”

It would be recalled that the FG last weekend handed over the troubled road to Dangote Industries Limited and Flour Mills of Nigeria (FMN) for immediate reconstruction with concrete overlay.

The memorandum of understanding (MOU) on the construction of the road was signed by the FG, DIL, NPA and the FMN.

Babatunde Fashola, minister of power, works and housing, signed the agreement for the handover of the road, on behalf of the Federal Government, while Hadiza Usman, managing director, NPA, and Joseph Makoju, honorary advisor to Aliko Dangote, president, Dangote Group, and Gbedebo, signed for their respective organisations. The three organisations are embarking on the project as part of their corporate social responsibility (CSR) to Apapa, where they all do business.

The construction work to be handled by AG Dangote, a civil construction company, and joint venture between Dangote Group and AG of Brazil, would utilise concrete slabs as against asphalt, common with road construction in this part of the world.

AG Dangote is not new to road construction, they have successfully constructed concrete roads in Ibese, Ogun State and currently working on roads in Obajana, Kogi State and also in Benin City, Edo state.

Managing director and chief executive of AG Dangote, Ashif Jumar in a chat with the media also said: “We are building a four kilometer concrete dual carriage road that has a life span of over 40years. It is a rigid pavement road of 250 millimeters thickness with solid underlying materials… We have already mobilized to site, but our major challenge is the chaotic Apapa traffic and the inclement rainy season. I appeal for patience and cooperation.”

Speaking at the MOU signing ceremony held at the Conference Hall of Area B Command of the Nigeria Police, Apapa, Honorary Adviser to the President/Chief Executive of Dangote Group, Engineer Joseph Makoju said the Group is moved by the deplorable state of the road which informed the need to look for like-thinking partners to effect repairs and salvage the road.

According to him, the deplorable state of the road has impacted negatively on businesses, activities and lives of people within the locality. He explained that the state of the road crippled economic activities as people spend whole days in traffic losing precious work hours. Makoju opined that the two kilometer road to the gate of Apapa is vital to the nation’s economy and described it as the national economy’s artery.

He commended the Managing Director of the Nigeria Ports Authority, who he said put in extra efforts to ensure the handing over of the road for reconstruction as the project has been on ground for over a year. The new road, he said will be concrete based in contrast to laterite base and has a life span of between 30 years to 50 years.

He described the road reconstruction as a higher form of corporate social responsibility as Dangote Group is not asking for tax rebates. According to him, businesses need to engage with host communities through corporate social responsibility projects to ensure sustainability.

He said, “…here at Dangote, we have built houses, new towns, hospitals, schools, roads, markets and awarded scholarships in the communities where we have our operations but this is a higher form of corporate social responsibility. This project is a higher form of intervention on a national level, intervening in provision of critical infrastructure.”

However, he tasked government to do more in terms of providing a conducive and enabling business environment for businesses to thrive stressing that If the environment is conducive and right, businesses will thrive and do more in terms of interventions in national infrastructure.

Business

FIRS ANNOUNCES AN ONGOING RECRUITMENT

Published

7 minutes ago

December 23, 2024

Sahara Weekly

FIRS ANNOUNCES AN ONGOING RECRUITMENT.

The Federal Inland Revenue Service (FIRS) has rolled out an exciting opportunity for experienced professionals to join its team.

In a public notice via its X handle, the agency announced job openings for positions like Assistant Manager, Deputy Manager, and Assistant Director in fields such as Tax, Public Relations, Legal, ICT, and Risk Management.

Interested candidates are encouraged to review the eligibility criteria and apply via the official portal at careers.firs.gov.ng before January 11, 2025. This recruitment drive is aimed at bolstering public service efforts and maximizing national development.

Business

UBA GMD Calls for Public-Private Collaboration, Joins Aviation Minister to Commission New MMIA Departure Section

Published

18 hours ago

December 22, 2024

Sahara Weekly

UBA GMD Calls for Public-Private Collaboration, Joins Aviation Minister to Commission New MMIA Departure Section

The newly renovated departure section of the Murtala Muhammed International Airport, Lagos, refurbished by United Bank for Africa (UBA) Plc, was officially commissioned on Friday, December 20th, 2024.

The laudable project, which marks a transformative moment in Nigeria’s aviation sector, underscores UBA’s unwavering commitment to national development and highlights the immense value of strategic public-private partnerships (PPPs).

The ceremony was graced by distinguished stakeholders, including the Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, SAN; the Managing Director of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku; other Directors, and Heads of Agencies operating at the Airport.

Speaking at the event, UBA’s Group Managing Director/CEO, Oliver Alawuba,lauded the collaboration that brought the project to fruition as he emphasised the need for public and private institutions to come together to build and revamp the nation’s assets.

“This renovation is a testament of UBA’s belief in the transformative power of investing in national assets. By modernising our airports, we not only enhance infrastructure but also position Nigeria as a global hub for tourism, trade, and investment,” he stated.

Alawuba took time to highlight the broader economic impact of such initiatives, urging increased private-sector participation in national development. “Public-private partnerships like this demonstrate what can be achieved when we unite for a shared vision of progress and investing in infrastructure catalyses economic growth, improves travel experiences, and creates opportunities across various sectors of the economy,” he added.

Alawuba reflected on the power of unity and collaboration, quoting Helen Keller: “Alone we can do so little; together we can do so much.” The commissioning of the renovated departure section serves as a reminder of what strategic partnerships can achieve in driving national development and elevating Nigeria’s global standing.”

While commissioning the project, Keyamo commended UBA for executing the project, a feat he termed a landmark achievement in Nigeria’s aviation sector. “This renovated departure section exemplifies the bank’s commitment to elevating aviation infrastructure, improving passenger experiences, and fostering international partnerships. It is a proud moment for the ministry and all stakeholders involved, and I thank the management of UBA for pioneering this initiative,” he remarked.

The minister highlighted other key achievements of his ministry, including compliance with the Cape Town Convention, the launch of a consumer protection portal, and advancements in major infrastructure projects such as the second runway at Abuja Airport and solar energy integration in airport operations.

The Managing Director/Chief Executive of FAAN, Mrs. Olubunmi Kuku, commended UBA and other stakeholders for their contributions, adding, “This project reflects FAAN’s dedication to delivering world-class aviation infrastructure. The enhanced departure section not only elevates passenger experiences but also strengthens Nigeria’s competitive position in global aviation,” she said.

She called for more private-sector participation, emphasising that “partnerships like these are essential to transforming the aviation sector into a beacon of excellence.”

The newly renovated departure section boasts cutting-edge facilities designed to enhance efficiency and passenger comfort. This upgrade reaffirms the Murtala Muhammed International Airport’s status as a critical gateway to Nigeria and a major hub for international travel in Africa.

United Bank for Africa is Africa’s Global Bank. Operating across twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally.

Business

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

Published

2 days ago

December 21, 2024

Sahara Weekly

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets

Sahara Weekly Unveils That The Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.