Business Hilights

Tracking Nigeria's Headline Business News Online

Lagos-Ibadan Expressway

Can FG use part of Abacha loot on 2nd Niger Bridge and still toll it?

More critical issues of urgent national importance are still emerging from the recently sealed agreement with the US Government which the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, signed on behalf of Nigeria for the return…

FG targets 2nd week of Dec for delivery as Lagos-Ibadan road partial closure begins

As the rescheduled partial closure of main Lagos entry/exit highway, the Lagos-Ibadan Expressway begins today, September 2, 2019, the Director of Highways, South West, Mr Funso Adebiyi, said the target was to complete the critical portion of the road before…

PPP has failed on 2nd Niger Bridge, Lagos-Ibadan Expressway—Fashola

Considering what can best be described as observed cold feet of supposed investors in the development of several key infrastructure projects across the country including the 2nd Niger Bridge construction and the Lagos-Ibadan Expressway expansion, the Minister of Power, Works…

Default of N8.94bn forces J/Berger, RCC to stop work on Lagos-Ibadan highway

Default in agreed payment schedule of about N8.9bn has caused the suspension of construction activities along the strategic Lagos-Ibadan Expressway by key contractors including Julius Berger Nigeria (JB) Plc and Reynolds Construction Company (RCC) Nigeria Limited. Before the halt, both…

Banking/Investments

China rounding up sub-Saharan Africa with ‘sweet’ funds for developments, but…

Starting with Nigeria, China has been giving strategic financial assistance in several infrastructural projects. Apart from working with Lagos State Government to provide loan and engineering assistance in the ongoing development of Lagos-Badagry Expressway, the Nigerian government recently ran into…

Shut down of works on 2nd Niger Bridge, Lagos/Ibadan road, others imminent—Fashola

A clearer picture of the reasons behind the delay in assenting to the 2017 national budget by Acting President Yemi Osinbajo were on Thursday, unmasked in Abuja by the Minister of Power, Works and Housing, Mr. Babatunde Fashola. In an…

FG may consider Bi-Courtney in fresh plan to concession Lagos-Ibadan Expressway

Barely three days after Dr. Wale Babalakin, chairman of the former concessionaire of the Lagos-Ibadan Expressway, Bi-Courtney Highway Services Limited opened up on the N200b owed one of his companies in the aviation sector following an award of cost to…