News

Bad Roads: FG Gives Contractors 14-day Ultimatum

Published

3 years ago

October 11, 2023

Editor

The Federal Government has given contractors handling road projects that have been abandoned, a 14-day ultimatum to return to sites or face revocation of the contracts.

The government also threatened to drag contractors ganging up against the use of concrete for road construction to the anti-crime agencies, including the Independent Corrupt Practices and Other related offences, ICPC.

The Minister of Works, Senator Dave Umahi, disclosed this after meeting, behind closed-doors, with President Bola Tinubu, at the Presidential Villa, Abuja, yesterday.

Umahi, who vowed not to succumb to the gang-up and blackmail from contractors, said President Tinubu had given him the support for the use of concrete in reinforcement.

Briefing State House correspondents after the meeting with the President, Umahi said some contractors had keyed into the policy, just as major cement producers had agreed to discount prices for such government road builders.

He also highlighted the advantages of cement roads over asphalt/bitumen, including cheaper costs and the need to encourage local production of cement against importation of bitumen.

Umahi further warned contractors against the dodgy attitude of securing about 20 projects but deploying as few as two units of equipment to site.

On the agenda of the meeting with the President, he said: ”I came to Villa to see Mr. President to discuss about road infrastructure. I want to thank God because Mr. President approved all my requests. And these requests will renew the hopes of Nigerians on our road sector development, the approvals will rejuvenate proper road construction.

”But let me clarify a number of issues, especially for the benefit of Nigerians and our stakeholders. There has been a kind of campaign by some quick fix contractors and some elements you know, within who do not wish us well, who want us to continue with the old order.

“But we can’t continue to do the same thing over and over and expect a different result. The truth is that our roads are not good. The truth is that the past government earmarked a number of roads, which Mr. President inherited, close to about 18,897 kilometer of road to the tune of N14 trillion.”

Asked how the projects would be funded, he said: “By the mechanism of funding, by the ingenuity of our President, Bola Ahmed Tinubu, we are sure of funding of about N5.1 trillion, leaving N6 trillion gaps. And this N6 trillion funding gap is as May 29, 2023.”

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

3 hours ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

3 hours ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

5 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.