INDIAN BILLIONAIRE GAUTAM ADANI CHARGED IN U. S. FOR ALLEGED BRIBERY, FRAUD. (PHOTO).

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  Indian billionaire Gautam Adani charged in US for alleged bribery, fraud Gautam Adani, the chair of Indian conglomerate Adani Group and one of the world’s richest people, whose business empire extends from ports and airports to renewable energy,has been indicted in New York over an alleged multibillion-dollar fraud scheme, United States prosecutors have said. The authorities on Wednesday charged Adani and two other executives at Adani Green Energy, his nephew Sagar Adani and Vneet Jaain, with agreeing between 2020 and 2024 to pay more than $250m in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2bn in profits. Prosecutors said the renewable energy company also raised more than $3bn in loans and bonds during this period based on false and misleading statements. Shares of Adani Enterprises, the group's flagship firm, closed down 22% on Thursday. Other group firms also closed in the red. Adani Green Energy, which is the firm at the c

STREET LIGHTING: LAGOS IS SET TO INSTALL ADDITIONAL 10,000 LED LIGHTS.#PRESS RELEASE.

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    The Lagos State Government has so far effectively installed street lighting in about 1300kilometres across the State, with a projection to deliver another 82kilometres by the end of the year, Commissioner for Energy and Mineral Resources, Mr Olawale Oluwo has said.
Speaking to journalists while inspecting ongoing projects in the sector with his team on Sunday, Oluwo said since the assumption of office of the State Governor, Mr Akinwunmi Ambode, concerted efforts have been made to ensure that every nook and cranny of the State is well lit in line with operation ‘Light Up Lagos Project,’ which is an initiative of the present administration.
The Light Up Project, according to Oluwo, is predicated on a tripod of street lighting, rural/community electrification and embedded power programme, adding that it was gratifying to note that all the components of the initiative were progressing well.
Giving details, Oluwo said: “When this administration came on board, we met a total distance area of 345kilometres street lighting infrastructure, and between May and December 2015, we reactivated hitherto moribund street lighting infrastructure in 99 roads.
“These street lights were taken over by the Lagos State Electricity Board from various Ministries, Departments and Agencies of government, and as at December 2017, we already covered 1100kilometres, while as we speak, we have effectively covered a total of 1300kilometres.”
He said at the beginning of 2018, the State Government commenced work on another 79kilometres of street lighting infrastructure, while a total of 143kilometres of roads across the State were retrofitted from High Pressure Sodium (HPS) to LED light.
“Currently, we have 82kilometres street lighting infrastructure ongoing across the State and it is projected that the project will be completed by the end of the year or within the first quarter of 2019,” Oluwo said.
He said it was also instructive to note that the State Government recently entered into a partnership with a firm to construct additional 10,000 LED street lights covering 300kilometres across the State.
The deal, Oluwo said, includes the provision of about 500 direct and indirect jobs and construction of an LED lighting and Hybrid Energy Power Assembly Plant in the State.He said aside the fact that the provision of street lighting infrastructure had enhanced aesthetics of the State and foster improved night economy, the initiative had also provided jobs to thousands of people as well as ensured safety of lives and property of residents.
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