Top Nigerian Newspaper Headlines For Today, Friday, 12th April, 2024

Good morning Nigeria. Welcome to the Naija News roundup of top newspaper headlines in Nigeria for today, Friday, 12th April 2024

1. Umahi Shames Atiku, Reveals Cost Of Lagos-Calabar Coastal Highway Project

The Minister of Works, David Umahi, has said the 700 kilometres Lagos-Calabar coastal highway project will cost N2.8 trillion.

Umahi, a former Governor of Ebonyi State, said every kilometre of the highway project under construction costs N4 billion.

He stated this while reacting to the claim made by the 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar, that one kilometre of the road project gulps N8 billion.

Recall that Atiku had criticised the decision of the Bola Tinubu government to award the project contract to his friend’s company, Hitech, without competitive bidding.

The former Vice President also dared the president and his administration to disclose the full cost of the Lagos-Calabar highway project.

He also wondered why the Tinubu administration released N1.06 trillion for the pilot phase, or six per cent of the project, which starts at Eko Atlantic and is expected to terminate at the Lekki Deep Sea Port.

Speaking with stakeholders of the project in Lagos on Thursday, the former governor also debunked claims that the project did not follow the due procurement process.

He added that the project was awarded on a counter-funding basis and not on a Public-Private Partnership as claimed.

Umahi explained that despite the increasing costs of materials in the construction industry due to commodity price inflation and supply chain disruptions, the ministry is committed to prudence, promising to reveal the true cost.

The minister confirmed that the project would be completed within eight years, stating that the four-lane carriageway’s use of concrete pavement will cost N4 billion per kilometre.

2. ‘We Certainly Need A New Beginning’ – ADC, Allies Plan Merger To Oust Tinubu In 2027 Elections

The Africa Democratic Congress (ADC) is contemplating a merger with multiple political parties across the nation to build a powerful coalition to overthrow the ruling All Progressives Congress (APC) in 2027.

The National Chairman of the ADC, Ralphs Nwosu, disclosed this at a press conference in Abuja on Wednesday.

Nwosu criticized the APC for failing Nigerians and gave the government poor ratings on all fronts.

He noted that the APC was formed in 2015 through a merger of opposition parties that ousted the PDP from power.

3. Lagos To Demolish Buildings That Fail Integrity Test – Sanwo-Olu

Governor Babajide Sanwo-Olu has reiterated the Lagos State Government’s commitment to demolishing buildings that fail integrity tests.

Naija News reports that Governor Sanwo-Olu gave this warning while inspecting the tragic fire outbreak at Dosunmu Market on Lagos Island.

The fire, which started more than 48 hours ago, has collapsed 14 buildings in the vicinity, with the potential for more damage as evaluations continue.

During his visit to the disaster site, Governor Sanwo-Olu expressed deep concern over the disaster’s preventable nature.

He highlighted the gross carelessness that led to the prolonged fire and its devastating effects on nearby structures.

The governor criticized the conversion of residential apartments into warehouses, a practice he deemed risky and non-compliant with the state’s construction regulations.

Sanwo-Olu announced that Dosunmu Market would be closed indefinitely as part of the government’s response to the tragedy. However, he assured the state would support those affected by the fire and aid them in their recovery efforts.

4. Relax, Things Are Getting Better – Akpabio Declares

Senate President Godswill Akpabio has declared that things are getting better in Nigeria, and there is no need for the people to be worried.

Speaking directly to the people of his constituency in his country home, Ukana, Essien Udim Local Government Area of Akwa Ibom, Akpabio assured them of receiving dividends of democracy.

The Senate President assured that the people would feel his impact as their representative and appreciated them for supporting him, President Bola Tinubu and the All Progressives Congress (APC) in the last elections.

He assured that politics was over and that people would enjoy the benefits of democracy and good governance irrespective of their political affiliations.

Akpabio added that he is ready to work with the State Governor, Umo Eno, for the development of the state.

5. Why We Could Not Save Two People Who Plunged Into Third Mainland Bridge – Umahi

The Minister of Works, David Umahi, has revealed the reason two people who plunged into the Third Mainland Bridge were not rescued.

According to him, the deceased could not be saved due to the absence of a rescue team and other infrastructure at the scene.

The Minister stated this during an appearance on Arise TV.

Recall that Naija News earlier reported that two passengers onboard a 20-seater bus plunged into the lagoon while 18 others escaped death.

The dire incident occurred barely a week after the Lagos Bridge was opened to traffic.

Umahi explained that work was still ongoing on the bridge, adding that the accident could have been averted with the necessary infrastructure.

The Minister assured that the physical presence of security personnel will not be seen in the corridor, however, they will be employed to monitor activities in the corridor through the CCTV.

6. BUA Chairman, Abdul Samad Rabiu Predicts When Dollar Will Exchange Below ₦1,000, Crash Of Commodity Prices

The Chairman of BUA Group, AbdulSamad Rabiu, has submitted that he expects the US dollar to exchange below ₦1,000 in the coming days.

The billionaire businessman said the prices of commodities in the country will soon drop as well as the naira continues to strengthen against the US Dollar.

Naija News reports he made the submission while speaking with newsmen after visiting President Bola Tinubu in Lagos.

The BUA founder commended President Tinubu and the Central Bank of Nigeria (CBN) for their efforts in stabilising the exchange rate, and also lauded the collaborative efforts between the government and the private sector in advancing economy recovery.

On the prices of commodities in the market, Rabiu predicted that the downward prices will continue in the coming months as the price of diesel reduces, particularly with the coming on board of Dangote Refinery.

7. Forex: Bureaux De Change Operators Make Demand From CBN

The Association of Bureaux de Change Operators of Nigeria (ABCON) has proposed that the Central Bank of Nigeria (CBN) issue a directive requiring non-oil exporters to retain foreign currencies in their domiciliary accounts for a minimum of 48 hours.

ABCON’s president, Aminu Gwadabe, announced the association’s position in a statement released on Thursday. The statement endorses the CBN’s recent clampdown on the use of non-oil export domiciliary account deposits to secure naira loans.

This development follows closely on the heels of a directive issued by the CBN on April 8, mandating all banks to discontinue accepting foreign currency-denominated collaterals for naira loans.

The financial regulator has stipulated that all existing loans backed by foreign currency collaterals must be reconciled within 90 days or subjected to a 150 percent capital adequacy ratio computation as part of the bank’s risk management strategy.

Gwadabe’s remarks highlight ABCON’s support for the CBN’s efforts to streamline forex transactions and enhance market stability.

He further elaborated that enforcing a mandatory holding period for foreign currencies in domiciliary accounts could significantly boost the availability of dollars in the local exchange market.

8. Fubara, Not Wike Is The New Political Leader Of Rivers State – Odili

A former Governor Of Rivers State, Peter Odili, has endorsed Governor Siminalayi Fubara as the political leader of the state.

Odili gave the endorsement on Thursday at the commissioning of a Primary Healthcare Centre donated by his PAMO Foundation in his hometown of Ndoni in the Ogba-Egbema-Ndoni Local Government Area.

The former governor praised Fubara for defending the interests of the people amidst his ongoing feud with his predecessor and the Minister of the Federal Capital Territory (FCT).

Odili urged Governor Fubara to act with the awareness that the state is strategically important to the country because of the natural resources in the state.

He emphasised that if the state sneezes, the entire nation catches a cold, stressing that the state is very important to the nation’s development.

Assessing Fubara’s performance, Odili commended him for making significant strides in critical sectors within his first year in office, particularly focusing on the well-being of the people.

He noted that Fubara’s administration is in alignment with President Bola Tinubu’s agenda, especially in the health sector, following the recent launch of the Primary Healthcare Fellows scheme by the Federal Government.

Odili encouraged the governor to maintain this alignment with the President and his policies to attract federal government attention and support to the state.

9. Lagos-Calabar Coastal Highway Project Will Only Eat Up Part Of Landmark Beach’s Shoreline, Shanties – Umahi

The Minister of Works, Senator Dave Umahi, has said the Lagos-Calabar coastal highway project will only remove 15 meters of Landmark Beach shoreline and shanties.

Recall that the Lagos State Government had issued a 7-day evacuation notice and demolition notice to Landmark Beach Resort, saying that the property is in the way of a 700-kilometre Coastal road that will link Lagos to Calabar.

But in a recent interview, the Group Chief Executive Officer of Landmark Group, Paul Onwuanibe, said in the original plans for the coastal highway project, the road was meant to start from a different path before it was changed to pass through the Resort.

He, therefore, called on the federal government to return the construction of the coastal road to the original alignment that was planned for it before it was moved to the path of the Landmark beachfront.

Speaking in an interview with Arise News on Thursday, Umahi said no permanent structure nor jobs will be lost in Landmark Beach in the construction of the Lagos-Calabar coastal highway.

He stated that with the design of the coastal highway project, only 15 meters of the shoreline and a few shanties in that line will be removed

The minister, therefore, assured Nigerians and the owner of the Beach that all other facilities in the business hub would be intact.

10. Buhari’s Ex-Minister, Ogbonnaya Onu Is Dead

A former Minister of Science and Technology under the administration of ex-President Muhammadu Buhari, Ogbonnaya Onu, has reportedly died.

Naija News reports Onu, who is the first civilian Governor of Abia State, passed on this morning in an Abuja hospital.

According to a source close to the deceased, the former governor died after a brief illness in an undisclosed hospital in Nigeria.

Another source assured that Onu’s burial programmes would be announced soon by the family.

Dr Ogbonnaya Onu, a professional engineer, was a lecturer at the University of Port Harcourt, Rivers State, Nigeria before joining politics.

That’s the top Nigerian newspaper headlines for today. Read more Nigerian news on Naija News. See you again tomorrow.