World Bank : Petrol Should Sell For N750/L, NADDC To Set Standards For Tokunbo, NPA Intercept Fake No. Plates, Ikeja Overpass Bridge

World Bank : Petrol should sell for N750/L, NADDC to set standards for Tokunbo cars, NPA intercept 413 fake number plates, Ikeja Overpass Bridge, news in the past week.

N650 Per Litre Not Good, Petrol Should Sell For N750 Per Litre – World Bank Advises FG

The World Bank has claimed that the Federal Government is still paying for fuel subsidy as the price of Premium Motor Spirit (petrol) should be around N750 per litre, which is more than the N650 per litre currently being paid by Nigerians.

The bank’s Lead Economist for Nigeria, Alex Sienaert, stated this in Abuja last week during his presentation of the Nigeria Development Update, December 2023 edition, titled ‘Turning The Corner (from reforms and renewed hope, to results).

He said :

“It does seem like petrol prices are not fully adjusting to market conditions, so that hints at the partial return of the subsidy…assuming that importation is done at the official FX rate.

“We think the price of petrol should be around N750 per litre more than the N650 per litre currently paid by Nigerians,” Sienaert said.

Sanwo-Olu, Kwara State Gov. AbdulRasaq Commissions Red Line Rail Ikeja Overpass Bridge

Lagos State Governor, Mr Babajide Sanwo-Olu on Tuesday commissioned the Lagos Rail Mass Transit (LRMT) Ikeja Overpass Bridge, marking it the fourth bridge to be commissioned along the Red Line corridor.

Sanwo-Olu, who was joined by the Governor of Kwara State, Mallam AbdulRahman AbdulRasaq, said that the significant milestone is a step closer to the commissioning of the entire Red Line Rail Project in Lagos.

Speaking on the newly built Ikeja Overpass, Sanwo-Olu said :

“With the Ikeja Flyover’s commissioning, we’re witnessing the interconnection of critical pieces in our transit network. These bridges underscore our commitment to efficient and safe transportation for all in Lagos.

The Ikeja Flyover and its counterparts—Yaba and Oyingbo bridges—are pivotal to the Lagos Rail Mass Transit Red Line, which is set to be ready for a test run in December, 2023.

“Nigeria Won’t Be Dumping Ground For Old Used Cars, NADDC To Set Minimum Standards For Tokunbo Cars

The National Automotive Design and Development Council (NADDC) has called for a minimum standards of used vehicles popularly known as “Tokunbo” cars that will be allowed to enter the country.

DG NADDC, Joseph Osanipin, made this recommendation at the meeting on “Public Sector Engagement on the Implementation of the NAIDP 2023-2023” held at Nicon Luxury hotels on Tuesday 19th December 2023.

Speaking at the event, Osanipin, who frowned at the level of inflow of unroadworthy cars on the Nigeria roads, said :

“There are some vehicles that are not worthy to be on our roads, in collaboration with the relevant agencies, we have to specify the minimum standards of vehicles that will be allowed to enter the country”.

NPA Burst Syndicate Sabotaging Truck E-call Up System At Lagos Ports, Intercept 413 Fake Number Plates

The Nigerian Ports Authority (NPA) says it has burst a sophisticated syndicate sabotaging the Truck Electronic Call-up system designed to end the massive gridlock witnessed on the Lagos port roads.

In a press statement, the Authority said it intercepted 413 fake vehicle number plates and 282 units of fake Minimum Safety Standard (MSS) stickers from the syndicate at the MPS pre-gate in Apapa.

“The Authority’s officials and security agents undertook a spot check of the MPS Pregate where a mind boggling discovery of 249 fake vehicle plate numbers and 149 units of Minimum Safety Standard (MSS) stickers were discovered.

“Further checks of the terminal led to a discovery of another 164 pieces of vehicle number plates and 133 pieces of MSS Stickers that are not fixed on any truck in readiness to be deployed for proxy booking,” it added.

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