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100 Days: Economist lauds Sanwo-Olu’s achievements

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Sanwo-Olu

An economist, Prof. Akpan Ekpo, has commended Gov. Babajide Sanwo-Olu of Lagos State on some of his achievements and initiatives, resulting to positive economic implications on residents.

Ekpo gave the commendation in an interview with the News Agency of Nigeria (NAN) on Friday in Lagos while reacting on Sanwo-Olu’s 100 days in office for second term.

Recall that the Lagos State governor was reelected for a second term in office on March 18.

According to him, one notable accomplishment is the progress made on the Lagos Blue Line Rail project expected to significantly ease transportation and help mitigate the impact of the oil subsidy removal.

Ekpo, Chairman of the Foundation of Economic Research and Training (FERT), noted that the project remained a major milestone in assisting workers in coping with the economic hardships resulting from the subsidy removal.

The economist expressed appreciation for the 50 per cent fare reduction on all transportation means owned and operated by the government.

He maintained that the reduction would provide relief to commuters and further support residents to navigate the economic challenges brought about by the removal of the petrol subsidy.

According to him, it is noteworthy that Gov. Sanwo-Olu’s administration has initiated the implementation of the Lagos State 30-year development plan within his first 100 days back in the office

Ekpo commended the governor for progressing with this plan and advised him to continue to do so in the future.

The News Agency of Nigeria (NAN) reports that construction of the 13-kilometer blue line rail began in 2009 and was inaugurated by Gov. Sanwo-Olu on Sept. 4.

The project faced delays, due to funding constraints, but it is now completed.

Once fully operational, the blue line rail is expected to transport an estimated 150,000 passengers daily, with each trip accommodating up to 1,200 passengers.

This will significantly reduce travel time from Mile 2 to Marina, cutting it down from three hours to just 25 minutes.

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Nigeria needs over $2bn to revive Ajaokuta Steel Plant, says Minister

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Minister of Steel Development, Shuaibu Abubakar-Audu says funding is the greatest challenge in efforts to revive the moribund Ajaokuta Steel Plant as Nigeria needs an excess of $2 billion to invest in it.

The Minister made this known in Ilorin, the Kwara State capital during his official visit to Governor Abdulrahman Abdulrazaq and other indigenous steel sector stakeholders in the state.

He noted that the current administration of President Bola Tinubu is working to grow the economy of the country by $1 trillion which involves supporting indigenous key players in the steel sector to industrialise Nigeria.

Abubakar-Audu also maintained that there is an ongoing discussion to have an industrial park at the Ajaokuta Steel Mill to attract key players in the sector. He explained that his Ministry is engaging key industry players across the country with a view to turning around the economy.

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Tinubu resumes work after foreign trip

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President Bola Tinubu has officially resumed work at the Villa, a day after returning from his trip abroad.

The President walked from his residence to his office accompanied by his security aides, his Chief of Staff Femi Gbajabiamila; the National Security Adviser, Nuhu Ribadu, and other aides.

President Tinubu traveled to the Netherlands on the 23rd of April at the invitation of the Dutch Prime Minister Mark Rutte. While in the Netherlands, he also met with the Nigerian-Dutch business community.

He proceeded to Riyadh, Saudi Arabia for the World Economic Forum (WEF) where he engaged global leaders with the view to winning more investors in Nigeria.

After the meeting in Saudi Arabia, President Tinubu was said to have proceeded to Europe on a private visit.

He returned to the country on Wednesday, after over two weeks of being away.

The governors of Kaduna and Plateau states, Uba Sani and Caleb Mutfwang paid a visit to the President on Thursday.

The reason for their visits could not be ascertained at the time of filing the report.

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