KEBBI GOVT DONATES 10 HILUX VEHICLES TO BOOST SECURITY ON SOKOTO–BADAGRY SUPER HIGHWAY. (PHOTOS).

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 Kebbi Govt Donates 10 Hilux Vehicles to Boost Security on Sokoto–Badagry Super Highway  The Kebbi State Government has handed over 10 brand-new Hilux vehicles to the Federal Ministry of Works to strengthen security for personnel working on the Sokoto–Badagry Super Highway project. The vehicles were formally received by the Minister of State for Works, Bello Muhammad Goronyo, who praised Kebbi State Governor, Dr. Nasiru Idris (Kauran Gwandu), for the donation. Goronyo described the gesture as a clear demonstration of the state government’s commitment to protecting workers and contractors on the strategic highway corridor. He explained that the vehicles will be deployed exclusively to security operatives providing cover for construction teams along the section of the super highway passing through Kebbi State. The Sokoto–Badagry Super Highway is a multi-state infrastructure project aimed at improving connectivity and economic activities across northern and southern Nigeria. More...
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WALE EDUN: ECONOMIC INSTABILITY, FX PAUCITY FORCED 800 COMPANIES TO SHUT DOWN. (PHOTO).

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 Wale Edun: Economic instability, FX paucity forced 800 companies to shut down

 

Wale Edun, minister of finance, says economic instability forced 800 companies to shut down operations.


Edun made this known on Tuesday in Abuja during the sectoral report of President Bola Tinubu’s one year in office.


The minister said the departure of these companies was not sudden.


He said issues such as market instability, unfulfilled promises, and contract breaches drove them away, but these issues have now been resolved.


“Government did inherit an unstable economy,” Edun said.


“The 800 companies or so did not make up their minds overnight. They stayed until they could stay no more.


“The conditions which sent them packing are no more. Those conditions were a foreign exchange market that was in no way fit for purpose.


“There was no liquidity. They were a general economic regime marked by instability, broken promises, lack of adherence to contracts.”


Edun said the new environment for investors involves tackling inflation, which will eventually result in lower interest rates.


This, he said, will allow investors to leverage the dynamic domestic markets to enhance their equity and invest.


On March 6, the Manufacturers Association of Nigeria (MAN) said 767 manufacturers shut down operations, while 335 became distressed, in 2023.

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