Osinbajo Leads Govt’s N1 Tr Scheme To Build Infrastructure
A Public Private Partnership-styled Infrastructure company named Infra-Co with an initial seed capital of N1 trillion is under way.
The scheme which enjoys the approval of President Muhammadu Buhari is to be led by Vice President Yemi Osinbajo. It is envisaged to grow to N15 trillion in assets and capital over time.
In a statement, Osinbajo’s spokesman Laolu Akande explained that the Infra-Co would be one of the premier infrastructure finance entities in Africa and would be wholly dedicated to Nigeria’s infrastructure development. The entity has been developed with concept designs from the National Economic Council (NEC) and the Central Bank of Nigeria.
He said: “The initial seed capital for the entity will come from the Central Bank of Nigeria, the Nigerian Sovereign Investment Authority, NSIA, and the Africa Finance Corporation.
“The board of Infra-Co will be chaired by the Central Bank Governor and include the Managing Director of the Nigerian Sovereign Investment Authority, President of the Africa Finance Corporation, as well as representatives of the Nigerian Governors Forum, and the Ministry of Finance, Budget and National Planning. The Board will also have 3 independent directors from the private sector.
“To address Nigeria’s infrastructure deficit, the Buhari Administration continues to explore innovative options, including through financing initiatives such as the Presidential Infrastructure Development Fund (PIDF) designed to cater for the 2nd Niger Bridge, the Abuja-Kaduna-Zaria-Kano Expressway, and other projects.
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“There is also the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme which is being used for the funding of the Bodo-Bonny Bridges and Road (with the Nigeria Liquefied Natural Gas, NLNG), and the Apapa-Oshodi-Oworonshoki Expressway (with Dangote Group), among others.
“Infra-Co will finance public asset development, rehabilitation and reconstruction as well as invest in cutting edge infrastructure projects for Roads, Rail, Power and other key sectors.”
Akande said the president had asked Osinbajo, to chair a Steering Committee tasked with setting up the company.
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BREAKING:Lagos Govt Arraigns Chrisland School, Principal, Others Over Death Of Pupil Whitney Adeniran
The Lagos State government has arraigned Chrisland School, Opebi, its principal, vice principal and two other employees over the death of one of the school’s pupils, 12-year-old Whitney Adeniran.
On Wednesday, the government of Lagos State had filed charges against Chrisland School and four others over the death of the 12-year-old pupil, Whitney Adeniran.
The school and its workers were accused of involuntary manslaughter and reckless and negligent acts.
The workers who were arraigned before Justice Oyindamola Ogala of the Lagos State High Court in Ikeja include Ademoye Adewale, Kuku Fatai, Mrs Belinda Amao, Nwatu Ugochi Victoria and Chrisland School Limited.
The school principal, Mrs Belinda Amao, broke down in tears while in the dock as the court and counsel tried to agree on a date for the commencement of the trial.
Whitney died during the school’s inter-house sports competition at Agege Stadium in Lagos on February 9.
Blessing Adeniran, her mother, had accused Chrisland of negligence over her daughter’s death.
The school’s management, however, dismissed insinuations that there was foul play in the death, saying she slumped in public.
Chrisland also argued that Whitney complained about “not-too-buoyant health” a few days before she died.
However, an autopsy conducted at the Lagos State University Hospital (LASUTH) confirmed that the deceased died from “asphyxia and electrocution”.
In the charges filed on behalf of the state government by the Director of Public Prosecution (DPP), Babajide Martins, who disclosed that their negligence killed Whitney because they failed to ensure her safety.
The charge also disclosed that they all acted in a reckless and negligent manner that endangered human life.
The offences are contrary to Sections 224 & 251 of the Criminal Law, C17, Vol.3, Laws of Lagos State, 2015
If found guilty, the offences carry a penalty of life imprisonment and two-year jail terms respectively.
On Tuesday, the state government granted access to Chrisland High School, Opebi branch, to open for physical learning ahead of the school’s forthcoming examination after parents’ appeal.
The state governor, Babajide Sanwo-Olu had ordered that the school be shut down on March 3, 2023, following the investigation into Whitney’s death.
Sanwo-Olu through the state Ministry of Education said the closure of the school would pave the way for unhindered investigation and afford all stakeholders, including parents, students, staff and friends of the deceased, time to grieve.
The reopening followed an appeal by the Parents of all Chrisland School Units who visited the Ministry of Education on Monday to seek the government’s understanding for “the sake of 500 plus students some of whom also have terminal examinations.”
The management of the school had tendered an apology over Whitney’s death.
BREAKING: Abacha’s Ex-chief Of Staff Oladipo Diya Dies
Retired Lt.General Donaldson Oladipo Oyeyinka Diya, the former Chief of Staff in General Sani Abacha’s military government, is dead.
His death was confirmed by Prince Oyesinmilola Diya. He said the former military administrator of Ogun State passed on to glory in the early hours of 26th March 2023.
Born on the 3rd of April, 1944, Diya was military Governor of Ogun State after the Buhari-Idiagbon coup of December 31st, 1983.
Diya joined the Nigerian Defence Academy, Kaduna and fought during the Nigerian Civil War.
He later attended the US Army School of Infantry, the Command and Staff College, Jaji (1980–1981) and the National Institute for Policy and Strategic Studies, Kuru.
While serving in the military, Diya studied law at Ahmadu Bello University, Zaria, where he obtained an LLB degree, and then at the Nigerian Law School, where he was called to bar as Solicitor and Advocate of the Supreme Court of Nigeria.
He held other top military posts like GOC, 82 Division and finally the Chief of General Staff (military Vice President) to Gen Sani Abacha
The statement read: “On behalf of the entire Diya family home and abroad; we announce the passing on to Glory of our dear Husband,Father, Grandfather,brother, Lt- General Donaldson Oladipo Oyeyinka Diya (Rtd) GCON, LLB, BL, PSC, FSS, mni.
“Our dear Daddy passed onto glory in the early hours of 26th March 2023. Please keep us in your prayers as we mourn his demise in this period. Further announcements will be made public in due course.
“Barrister Prince Oyesinmilola Diya, on behalf of the family.”
Breaking: Appeal Court Retains Adeleke As Osun Governor
The Court of Appeal sitting in Abuja has vacated the tribunal judgement that nullified the election of Governor Ademola Adeleke of Osun State.
The appellate court, in a unanimous decision by a three-member panel of Justices, on Friday held that the appeal Adeleke lodged to challenge his sack by the Osun State Governorship Election Petition Tribunal, was meritorious.
Aside from setting aside the judgement of the tribunal, the court, in its lead judgement that was delivered by Justice Mohammed Lawal, awarded N500, 000 cost against the All Progressive Congress, APC, and its candidate, Gboyega Oyetola
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