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SANWO-OLU: WE’RE FINANCIALLY CREDIBLE GOVT

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•Says LASG will never default on loan repayment responsibilities

•LOTUS, Parallex banks hail Governor’s giant strides in Lagos

Lagos State Governor, Mr. Babajide Sanwo-Olu, on Wednesday said the State is a financially credible government to financial institutions, noting that Lagos State Government has never defaulted in terms of repayment and other responsibilities.

Governor Sanwo-Olu made the statement on Wednesday when the management of Parallex Bank Limited led by its Managing Director, Olufemi Bakre, paid him a courtesy visit at the Lagos House, Marina.

He said Lagos State Government is open to doing business with any financial institutions, adding that his administration will continue to encourage all players without giving anyone unnecessary advantage.

Sanwo-Olu said his government is service-driven based on the administration’s commitments to the citizens by improving quality of lives, providing security of lives and properties and providing a friendly and conducive environment for businesses to thrive.

“We are open to doing additional businesses with any of the financial institutions. Lagos will continue to be a major player in the public sector space and we are very disciplined because we never default on all our responsibilities in terms of repayment and others. So, I am very sure that we are a credible creditor to banks,” he said.

Governor Sanwo-Olu also received the management of the LOTUS Bank Limited led by its Managing Director, Kafilat Olaoye, during a courtesy visit at the Lagos House, Marina on Wednesday.

Speaking during the courtesy visit, Governor Sanwo-Olu said his administration is embarking on developmental projects in different parts of the state to create value for residents of Lagos State.

He said Lagos State Government will continue to collaborate with partners and stakeholders in the private sector who want to contribute to the growth and development of the state.

In his address, the Managing Director and Chief Executive Officer (CEO) of the Parallex Bank Limited, Olufemi Bakre commended the Babajide Sanwo-Olu administration’s giant strides in Lagos State, noting that the incumbent government’s performance is visible in the area of transportation, health, making Lagos 21st Century economy, information and technology, security and governance.

He said his bank is ready to partner with the government to finance some State developmental projects like the Fourth Mainland Bridge.

The Managing Director of LOTUS Bank Limited, Kafilat Olaoye, who said her organisation is ready to partner with the Lagos State Government in developmental projects, said Governor Sanwo-Olu has done a lot in the last three years and deserved a second term in office based on the recent endorsement of the Governor for reelection in 2023.

 

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Olubadan-In-Council Appoints Ladoja As New Olubadan

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Rashidi Ladoja
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The Olubadan-In-Council has nominated former Oyo State Governor Rashidi Ladoja as the 44th Olubadan of Ibadan.

Ladoja was nominated at the Olubadan Palace in Oke-Aremo, Ibadan North Local Government Area of Oyo State, on Monday, August 4, 2025.

“We, the members of the Olubadan-In-Council, have all signed and nominated Oba Rashidi Ladoja as the new Olubadan of Ibadanland,” stated the Balogun Olubadan of Ibadanland, Oba Tajudeen Ajibola, who presided over the meeting.

Ajibola added that the resolutions from the meeting will be forwarded to Oyo State Governor Seyi Makinde, who will schedule a date to present the staff of office to the new Olubadan.

He explained, “The late Olubadan, Oba Owolabi Olakulehin, will be buried this week, so a ceremony this week is not feasible. Governor Makinde may decide to set the presentation for three weeks, two weeks, or one week from now.”

Oba Olakulehin passed away at the age of 90 on July 7.

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Tinubu Asks Content Creators To Use Their Influence To Promote Unity

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President Bola Tinubu
President Bola Ahmed Tinubu
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President Bola Ahmed Tinubu has urged young Nigerians involved in digital media to leverage their platforms as tools for national progress during his address on Friday.

He encouraged them to establish businesses that create job opportunities, produce content promoting unifying values, and act as positive catalysts for societal development. He emphasised the importance of verifying information before sharing it.

At the opening of the Progressives Digital Media Summit, themed “Unveiling the Critical Role of New Media in National Development,” President Tinubu stated:

“Your generation has recognised this moment. You are utilising digital tools to innovate, educate, and demand accountability. However, as your influence increases, so must our collective sense of purpose and responsibility.

“I urge you to continue using digital platforms to advance our nation. Build businesses that create jobs. Produce content that uplifts and unites. Use your influence to promote unity, not division.”

He praised the creativity and resilience of Nigeria’s youth, noting that digital media serves as a driving force for economic and social transformation.

“It is no longer merely an accessory to life,” he added. “From developing innovative platforms to establishing vibrant online communities, you are demonstrating the determination that is redefining what is possible for this country.

“You are not waiting for the future; you are building it. Digital media is now a central driver of economic growth, civic engagement, and social change, broadening representation for those previously unheard.”

The President affirmed that his administration is committed to supporting digital innovation through the National Digital Innovation Fund and policies that foster a thriving startup ecosystem. However, he cautioned practitioners to remain vigilant against disinformation and cyber threats.

Femi Gbajabiamila, Chief of Staff to the President, acknowledged digital media practitioners for consistently advocating for Nigeria and positively representing the nation on the global stage:

“You are the vanguard of a reborn Nigeria, determined to reach for the stars. Under President Tinubu’s leadership, our nation has begun its long-overdue journey toward greatness. The road may be challenging, but it is necessary,” he stated.

In a goodwill message, Bayo Onanuga, Special Adviser to the President on Information and Strategy, highlighted the significance of the Summit. He noted that lessons from recent elections in countries like the U.S. and Germany illustrate how digital media have become crucial battlegrounds—not just for entertainment—but for shaping electoral outcomes.

“However, social media is not a fair battleground. As a public square, it is often chaotic and unregulated. Users frequently ignore the rules. Divisive content is rampant, and deepfakes and AI-generated material are increasingly used against political opponents. Posts are driven by clicks, not truth or accuracy. Misinformation spreads five times faster than official corrections,” Onanuga observed.

He expressed optimism that the Summit would address these challenges, focusing on strategies to combat fake news and misinformation.

Segun Dada, the summit convener and Special Assistant to the President on New Media, emphasised that in less than a decade, digital media has evolved from a tool for personal communication into a powerful engine for communication, innovation, and influence.

He stressed the importance of harnessing this force for the benefit of Nigeria while managing inherent risks, such as privacy concerns and threats to social cohesion.

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FG Approves Road And Bridge Projects Nationwide Worth N2.38 Trillion.

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Minister of Works, Dave Umahi
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The Federal Government has given the green light to a series of impressive road and bridge projects across the nation, totalling an investment of N2.38 trillion!

This exciting development comes with a promise to unveil a detailed state-by-state ledger, highlighting all projects that exceed N10 billion.

Minister of Works, Dave Umahi, made a statement after Thursday’s Federal Executive Council meeting, which was presided over by President Bola Tinubu at the Aso Rock Villa in Abuja.

Umahi outlined several significant contracts, including:

– Abuja Road Section I (118 km) at N286 billion

– Abuja Road Section II (164 km) at N502 billion

– Abuja–Kano Road (72 km) at N450 billion

– Nembe Bridge at N156 billion

– Sokoto–Badagry Corridor, Section 2 to Kebbi (228 km, three lanes) at N961 billion

He also mentioned two approved adjustments: an additional N11.42 billion to complete the Lagos–Shagamu–Ijebu-Ode–Ore project and N8.94 billion for revisions in Niger State, bringing the aggregate adjustment to N2.38 billion.

Regarding cash flow, Umahi stated that the Presidency has released N75 billion for Abuja Section I, which he described as 30% of the total N286 billion; approximately N150 billion (about 30%) for Abuja Section II; N45 billion (presented as 30%) for the Abuja–Kano Road; and N46.8 billion, representing 30% of the N156 billion allocated for the Nembe Bridge. This brings the documented releases for these four items to roughly N316.8 billion.

He added that the Abuja County application project, valued at $22 billion, has also received a 30% payment in dollars. Additionally, funds have been disbursed for all four sections of the Bauchi–Gombe project, with further Sukuk disbursements to Gombe where work has already commenced.

The minister emphasised that this program will stimulate growth by connecting states, reducing logistics costs, and increasing the GDP of the states. He referenced the Lagos–Calabar Coastal Highway, stating that the first section is 85% complete and benefiting Lagos’ economy.

Umahi explained, “The Lagos-Calabar Coastal Highway, sections 4A and 4B, are in Ogun State and extend from where section one ended at Lekki, continuing into Ondo State. We have about 40 km in Ogun State and 40.35 km in Ondo State. The project has reached the border between Ondo and Edo States, totalling 80.53 kilometres, with six lanes. The overall contract sum is N1.65 trillion.

“The project involves excavating to an average depth of six meters, refilling with fresh water and sharp sand, and raising the existing ground level by five meters to prevent flooding, as it traverses swampy areas. These details are part of what the Federal Executive Council approved.”

Umahi also outlined new and revised approvals, including:

– The Biu–Numan road in Adamawa, extended from 45 km to 61.76 km

– Additional funding for the Lagos–Shagamu–Ijebu-Ode–Ore corridor

– Design changes in Niger (binder crossing and a new strand bridge)

– The award of Sokoto–Badagry Section 2 (to Kebbi) for N961 billion, with 120 km already completed in Sokoto.

He added, “Today, the FEC approved the review of projects in Borno and Adamawa. The Biu–Numan Road project was initially awarded in 2020 for 45 km at N15.43 billion and has now been revised to N61.76 billion, while maintaining the 45 km scope for the Biu–Numan Road in Borno and Adamawa.

“The second project approved was the Maraba KV Road, which spans 43.6 kilometres and is dualised.

“We also revisited the Sokoto–Badagry project. Previously, in August 2024, we awarded a contract for 258 km in Kebbi for one carriageway, amounting to N940.7 billion. Today, we awarded the second carriageway in Kebbi for 258 kilometres, three lanes, at N961 billion, along with an additional 120 kilometres for N456 billion in Sokoto.

Currently, we have completed 220 kilometres in Sokoto at approximately N920 billion. In Kebbi, the project covers 258 km, bringing the total for Kebbi to roughly N2 trillion. This construction has now been approved by the FEC,” Umahi explained. I

In response to the recent tragedy at the Keffi Flyover, Umahi expressed his condolences, confirmed that the Federal Government has settled with the affected families, and stated that reconstruction is underway, with the bridge currently closed to traffic.

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