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Lagos shuts Ojota axis of Lagos-Ikorodu road for 4 weeks, discloses alternative routes

Motorists from Oworonshoki descending to Ojota and Maryland would be diverted to use the U-turn at 7-up.

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The Lagos State Government has announced the closure and diversion of traffic on the Ojota axis of Lagos-Ikorodu Road to enable reconstruction works along the corridor for the next 4 weeks, with effect from 6.00 am on Saturday, August 29, to Friday, September 25, 2020.

While making the disclosure, the Lagos State Commissioner for Transportation, Dr Frederic Oladeinde, said that the diversion became necessary in order to allow the contractors handling the rehabilitation works continue with the next phase of the project without hindrances.

He said that the ramp descending outbound Oworonshoki Expressway to outbound Ikorodu and sections of the service lane in front of Lagos Metropolitan Area Transport Authority (LAMATA) office would be closed to traffic during the rehabilitation works to allow for smooth repairs of the service lane inwards Ojota and Maryland.

Oladeinde revealed that different alternative routes have been suggested to road users for utilization during the rehabilitation period. He added that the Lagos State Traffic Management Authority (LASTMA) and other traffic management agencies would be available to direct traffic for free vehicular movement throughout the period.

Going further, the commissioner disclosed that motorists from Oworonshoki descending the ramp on the interchange to Ojota and Maryland would be diverted to use the U-turn at 7-up to connect the ramp beside Olusosun dumpsite to link Ikorodu road.

He also said that motorists coming from Mile 12 and Ketu on Ikorodu Road intending to ascend the ramp to Oworonshoki are advised to use Ikosi road to link Lagos Ibadan expressway through CMD road and make a U-turn at the Lagos Emergency Hospital inward Oworonshoki.

Alternatively, motorists can also use the ramp after Ketu bus stop, beside LAMATA bus yard to link Lagos Ibadan expressway and make a U-turn at 7-up Enroute Oworonshoki or stay on the main carriageway on Ikorodu road, after Ketu bus stop, to link a temporary ramp after the Ojota interchange which will lead them to Oworonshoki through the service lane.

In his statement, Oladeinde also said that motorists inbound LAMATA yard from Oworonshoki should use Ikosi road to connect Ikorodu road and stay on the main carriageway to connect the temporary lane that links the service lane immediately after the Ojota interchange to join LAMATA gate beside Gani Fawehinmi Park, Ojota.

The commissioner finally reiterated that the impediments by Ikosi road have been removed to allow free flow of traffic inbound and outbound Ikorodu road during this period.

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Companies

Dangote Sugar proposes N18.2 billion as final dividend for 2020

Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders.

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The Board of Directors of Nigeria, Dangote Sugar Refinery Plc has proposed a sum of N18.2 billion as the final dividend for shareholders for the period ended 31st December 2020.

This announcement was contained in the audited financial statement of the leading integrated sugar company.

In line with the statement of the Board of DSR, the approval of this proposed dividend at the forthcoming Annual General Meeting will see Dangote Sugar pay out a final dividend of N1.50 for each of the outstanding 12,146,878,241 ordinary shares of the company, held by its shareholders.

The proposed dividend is 36.36% higher than the final dividend of N1.1 per share (N13.36 billion) the sugar company paid its shareholders in 2019.

What you should know

  • Dangote Sugar Refinery declared in its audited statement for the period ended 31st December 2020 that its profit for the year climbed to N29.8 billion, from N22.4 billion in 2019.
  • According to these figures, DSR’s earnings per share for 2020 are pegged at N2.45. Hence, with a dividend of N1.50 per share, Dangote Sugar is set to payout 61.2% of its profits for 2020.
  • At the close of trading activities on the floor of the Nigerian Stock Exchange today, shares in Dangote Sugar Refinery declined by 0.83% to close lower at N17.85.
  • At this price, the dividend yield of Dangote Sugar shares is 8.40%.
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HOSPITALITY & TRAVEL

FG approves reopening of Osubi Airport, Warri for daylight operations

Osubi Airport will be opened for operations in daylight in VFR conditions and observe COVID-19 protocols.

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The Federal Government approved the reopening of Osubi Airport, Warri, Delta State for daylight operations on Monday.

This was disclosed by the Minister of Aviation, Hadi Sirika, via his Twitter handle on Monday.

According to him, the facility will be opened for operations in daylight in VFR conditions, while observing COVID-19 protocols.

He tweeted, “I have just approved the reopening of Osubi Airport Warri, for daylight operations in Visual Flight rules (VFR) conditions, subject to all procedures, practices and protocols, including COVID-19, strictly being observed. There will not be need for local approvals henceforth.”

VFR are a set of regulations under which a pilot operates an aircraft in weather conditions generally clear enough to allow the pilot to see where the aircraft is going.

What you should know

  • The Airport, which was commissioned on 17th April 1999 by the former Minister of Aviation, Captain Briggs, is managed by the Federal Airports Authority of Nigeria (FAAN).
  • In 2020, the Federal Government, in a letter to all the aviation parastatals, had allegedly terminated the contract of Shoreline Oil Services Limited, the operator of the airport, with immediate effect, citing incompetence.
  • The facility has been a subject of controversy since it changed hands from the original owner, Shell Petroleum Development Company (SPDC), to Shoreline in partnership with the Nigeria National Petroleum Corporation (NNPC) in 2015.
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Business

US Ambassador opens centre in Lagos, to boost entrepreneurial skills among Nigerian youth

US Ambassador to Nigeria has launched a centre where youths can gain entrepreneurship skills through programs and workshops.

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The United States Ambassador to Nigeria, Mary Beth Leonard, opened the first-of-its-kind Window on America in Nigeria on Monday.

The Centre is expected to serve as a community center where young people develop their ideas, as well as their leadership and entrepreneurship skills through programs and workshops designed especially for them.

This was disclosed in a statement shared by Temitayo Famutimi, Information Specialist, Public Affairs Section (PAS), U.S. Consulate General and seen by Themoneymetrics.

According to the statement, the Centre, which was Hosted at the Lekki Slum2School Innovation Hub in Lagos, is as a result of a partnership between the US Consulate General, Lagos and Slum2School Africa, founded by Otto Orondaam, a 2016 alumnus of U.S. government’s Mandela Washington Fellowship.

The Ambassador noted that the new Window on America is open to everyone in the community, offering its services, programs and resources to the public at no cost.

She said, “We are happy to open the very first Window on America space in Nigeria here in Lekki.

“In the next few months, we will follow with six additional new Windows on America in the south and 12 across the country. We want our Windows on America to promote mutual understanding between the United States and the people of Nigeria.”

In addition to providing public programming space, the Lekki Window on America will support five core programs: English language learning, educational advising, alumni activities, cultural programs, and information about the U.S.

What you should know

  • Visitors to the window will typically include students, teachers, entrepreneurs, academics, journalists, civic organizations, government officials, and community leaders, in addition to many others.
  • Windows on America are American spaces that provide welcoming environments where visitors can learn about the United States, including its government, history, culture, and educational system through programs, lectures, books and electronic resources provided by the U.S. Government.
  • In addition to the Lekki Window on America, 12 more will be opened in major cities across the country, including Abeokuta, Awka, Benin City, Enugu, Osogbo, Uyo, Zaria, Minna, Dutse, Makurdi, Gombe and Lafia, in order to engage more Nigerian audiences in their local communities.
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