Category: Daily Trust

The federal government and Glovo, one of the leading tech platforms in Europe, Africa and Central Asia, has reaffirmed its commitment to empowering Small and Medium enterprises in Nigeria with the new edition of Glovo Academy held in Abuja.

Glovo Academy is an in-person learning and development initiative designed to provide training and digital tools to help local businesses optimise operations, boost their brand, and increase online sales through the Glovo platform.

The Head of Growth, Glovo Nigeria, Reni Onafeko, noted that the company remains committed to empowering SMEs on its platform by offering access to opportunities such as advisory and finance.

She explained that with the million of orders delivered since the launch of Glovo in 2022 in Abuja, over N11 billion in value has been delivered to partners.

According to her, the company has recorded 30% increase year-on-year in orders in Abuja, working now with over 1,000 local restaurants. She emphasised the need for SMEs to embrace digital literacy to enable their businesses to expand, formalise their operations, and scale sustainably.

Also speaking during the panel session, the Special Adviser to the Minister of State for Industry, Ifeoma Williams, stressed that MSMEs remain the backbone of any economy, noting that current data from the National Bureau of Statistics revealed that 40% of Nigeria’s Gross Domestic Product is derived from these small businesses.

While bemoaning poor access to loan facilities from the federal government for many SMEs, she attributed the challenge to a lack of proper structure and the right business plan. She stated that the federal government is doing a lot to provide the right policies for thriving businesses.

Also speaking at the session, Kayode Meyanbe, Head of ICT, Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, stated that through the agency, the federal government is leveraging a partnership with the Corporate Affairs Commission to provide free registration for 250,000 businesses.

Kayode urged SMEs to take advantage of the opportunity to formalize their operations and access the opportunities provided.

‘As an agency, we have partnered with banks to provide loans at an interest rate below 10% to support their businesses. Not only that, state governments have also been helping us with funds for these SMEs to access our loan facilities.

Beyond that, we have also engaged BDSPs to provide capacity training on how to run businesses for SMEs. We do this through Kaduna Business School and Lagos Business School to dispense need-based skills and curriculum to SMEs,’ he said.

The positive rally of the local currency against the dollar continued yesterday with the naira exchanging at N1,455 to one dollar even as forex speculation declined, at an all-time low as the gap between the official and parallel market rates has significantly dropped.

The naira, which has sustained rally across markets in recent months, trading at N1,455/$ as of yesterday according to the Nigeria Foreign Exchange Market (NFEM) and N1,460 to N1,470,$ at the unofficial black market.

Daily Trust reports that the naira is making its strongest gain in the year with the improvement attributed to surge in foreign reserves to $43.05 billion and drop in speculative FX activities as the impact of the Central Bank of Nigeria (CBN’s) reforms continue to drive positive sentiments and confidence across markets, according to analysts.

A country’s currency is an instrument of her pride. For the Nigeria naira, a turbulent past that saw it lose its significant value is almost over, according to analysts.

The local currency rebound is being driven by a combination of stronger demand for the naira, reduced speculative trading, and rising foreign reserves now at $43.05 billion.

Besides, the forex reforms instituted by the CBN Olayemi Cardoso are now yielding great benefits from reduction in forex speculation and narrowing of gaps between official and parallel markets.

The CBN leadership has continued to take major steps to keep the naira stable in line with its exchange rate stability objective.

The apex bank is boosting FX supply to retail end users, reducing distortions in the market and maintaining effective foreign reserves management and accretions.

The injection of liquidity into the market and rising compliance with FX regulations have reduced sharp depreciation of the naira at official and parallel markets and buoyed foreign investors’ interest in the domestic economy.

The naira stability is also driven by inflows from Foreign Portfolio Investors (FPIs), substantial contributions from International Oil Companies (IOCs), and the CBN’s interventions to authorised dealers.

There is also renewed interest of Foreign Portfolio Investors (FPIs) in the FX market-driven by improved market confidence, a more efficient FX framework, and strengthening macroeconomic conditions.

The CBN chief Cardoso recently announced that gross external reserves remained robust at $43.05 billion on September 11, 2025, compared with $40.51 billion at end-July 2025 with an import cover of 8.28 months.

‘Similarly, the second quarter 2025 current account balance recorded a significant surplus of $5.28 billion compared with $2.85 billion in the first quarter of 2025,’ Cardoso stated during the 302nd monetary policy committee meeting held in Abuja last week.

FX speculations drop

A Bureaux De Change (BDC) trader based in Marina, central Lagos, Garuba Sarki, said many dealers lost huge funds as they sold below purchase rates as exchange rate gap narrowed.

‘I know some BDC operators that sold dollars below the purchasing rate. This is expected to continue in the weeks ahead. Also, the expected dollar inflows to the economy will help strengthen the naira position against the dollar,’ he said.

Analysts at Commercio Partners attributed the rally and gradual narrowing of the exchange rate gap to a combination of stronger demand for the naira, reduced speculative trading, and improved foreign reserves.

Head of Research at Commercio Partners, Ifeanyi Ubah, expressed optimism that the positive sentiment would be sustained in the near term, supported by increasing external buffers.

‘Nigeria’s rising external reserves are reflecting a healthier external position for the country. With reserves strengthening, speculative activity subsiding, and oil earnings supporting inflows, many market watchers believe the naira’s current rally has a stronger foundation compared to previous cycles of volatility,’ he said.

Call for caution

However, other experts caution that sustaining this momentum will depend on the government’s ability to maintain macroeconomic discipline, boost crude oil production, and diversify export earnings.

President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said key policies like the Foreign Exchange (FX) Code, rising investors’ confidence, and foreign direct investment supporting policies are effectively putting FX speculators in check.

He said the FX Code implementation is comprehensively addressing various aspects of market conduct and practices.

Daily Trust reports that the policy authorises the CBN to establish and enforce directives regarding the standards for financial institutions under which FX deals are to be conducted.

Gwadabe said the code further entrenches transparency and accountability in the FX market, and continually sustains naira stability and rally.

He also backed CBN’s position that all institutions engaged in the foreign exchange market must also provide the CBN with a detailed implementation plan outlining how they intend to achieve full compliance with the FX Code.

Cardoso had at the launch of the Nigeria Foreign Exchange Code (FX Code), emphasised integrity, fairness, transparency, and efficiency as critical pillars for driving Nigeria’s economic growth and stability.

According to Cardoso, ‘The FX Code represents a decisive step forward, setting clear and enforceable standards for ethical conduct, transparency, and good governance in our foreign exchange market. The era of opaque practices is over. The FX Code marks a new era of compliance and accountability. Under the CBN Act 2007 and BOFIA Act 2020, violations will be met with penalties and administrative actions.’

Gwadabe, said the policy shifts showed the level of creativity, policy and hard work the Cardoso puts in ensuring that more forex flows into the economy and remain accessible to businesses.

Boosting remittances inflows

As part of its efforts to boost diaspora remittances and support naira stability, the CBN recently announced the introduction of two new financial products designed to serve Nigerians living abroad.

The Non-Resident Nigerian Ordinary Account and the Non-Resident Nigerian Investment Account was created to streamline remittances, encourage investments, and foster financial inclusion among Nigerians in the diaspora.

It said, ‘The Central Bank of Nigeria is pleased to inform the general public of the introduction of the Non-Resident Nigerian Ordinary Account and Non-Resident Nigerian Investment Account targeted at Nigerians in diaspora.’

The Non-Resident Nigerian Ordinary Account was designed to facilitate remittances by allowing non-resident Nigerians to remit foreign earnings into Nigeria and manage funds in foreign currency or naira.

Deposits from sources such as salaries, allowances, and dividends are supported, alongside spending on family maintenance, education, and healthcare.

On the other hand, the Non-Resident Nigerian Investment Account provides an opportunity for NRNs to invest in Nigeria’s financial markets, including foreign currency-denominated bonds, fixed deposits, and local assets like equities, government securities, and mortgage products.

The CBN explained that both accounts offer currency flexibility, enabling holders to maintain balances in either foreign currency or naira.

Account holders will also be able to convert funds between the two currencies at prevailing exchange rates through authorised dealers.

The CBN’s initiatives have supported continued growth in these inflows, aligning with the institution’s objective of doubling formal remittance receipts within a year.

The remittances in the economy is expected to increase based on CBN’s ongoing efforts to bolster public confidence in the foreign exchange market, strengthen a robust and inclusive banking system, and promote price stability, which is essential for sustained economic growth.

In a report: ‘Diaspora remittances: The power behind Africa’s sustainable growth’, Regional Vice President of Africa at Western Union, Mohamed Touhami el Ouazzani, said remittances may be measured through the movement of money, but their real impact is measured in lives changed.

He disclosed that in 2023 alone, $90 billion flowed into Africa from its global diaspora, an amount that rivals the Gross Domestic Product of the entire region.

He said that remittances symbolize deep ties that keep communities connected across borders. ‘Families with a breadwinner working abroad depend on these funds to provide vital support for day-to-day needs. They also build the foundation for broader financial stability,’ he said.

For remittances to be truly transformational, it begins with understanding and meeting people’s aspirations. Ensuring individuals who strive for more can send and receive funds, regardless of their financial status, is crucial. We must cater to diverse needs.

‘In a continent renowned for its entrepreneurial spirit, offering multiple channels for remittance access is key. Whether through bank accounts, digital wallets, mobile money apps, or cash pickups, this flexibility ensures that funds are delivered in ways that best suit local realities. Providing innovative and inclusive solutions empowers individuals to not only manage their immediate needs but also to invest in long-term growth opportunities,’ he added.

According to him, every remittance is a seed of change – a deliberate investment in a future where borders blur.

‘The future of remittances in Africa transcends mere financial support. By strategically directing funds into sectors that need them most, Africa’s diaspora is not just sending money home; they are building resilient economies and challenging traditional models of progress,’ he said.

The leadership of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), on Thursday, provided more insight into what transpired during a marathon peace meeting that was held to resolve the rift between PENGASSAN and Dangote Refinery.

The union specifically revealed that it refused to sign the communique issued at the end of the meeting because there are ‘grey areas’ in the document, saying the strike was only suspended based on the respect and regards it has for the government and institutions.

Daily Trust reports that both PENGASSAN and Dangote Refinery have been at loggerheads following the unionisation of some employees working with the refinery.

The company had sacked 800 of its employees and replaced them with foreign nationals from India, according to PENGASSAN – the development both unions in the oil sector frowned at.

While the company premised its decision upon alleged sabotage, the union maintained that Dangote Refinery flouted Labour laws, International Labour Organizations (ILO) conventions and the Nigerian constitution.

Specifically, the development triggered a rapid response from PENGASSAN, whose members shut down export terminals, blocked vessel loading, and locked offices across oil and gas facilities.

After marathon negotiations involving the federal government, labour leaders, and security agencies, a communique was signed on Wednesday morning at about 2.30am as Dangote Group agreed to re-fix sacked employees.

The Ministry of Labour and Employment, in a statement on the outcome of the reconciliation meetings, said the parties agreed that the disengaged workers will be absorbed by other subsidiaries in Dangote Group without loss of pay.

However, reacting to what was contained in the document on Thursday when he appeared on Channels Television’s The Morning Brief, Osifo stressed that there were ‘grey areas’ in the communiqué but stressed that the union suspended the action in good faith.

‘If you see that communiqué, we did not sign it. Normally, it is supposed to be signed by three parties. We did not sign because we felt that some things in it were not okay with us,’ he said.

He further noted that the communiqué was merely a statement from the Minister of Labour and Employment, Muhammadu Dingyadi, who acted as the chief conciliator.

‘When we submitted it to our NEC, we had to decide on priorities. Some media houses claimed we were only interested in check-off dues. That is false. What we prioritised was how our members would return to work and provide for their families.’

Osifo said PENGASSAN’s position remains that the refinery management should immediately reinstate the sacked workers.

He disclosed that Dangote initially refused to reabsorb the disengaged workers until the government intervened and pushed for a compromise, dismissing the refinery’s claims of sabotage by the affected employees.

The positive rally of the local currency against the dollar continued yesterday with the naira exchanging at N1,455 to one dollar even as forex speculation declined, at an all-time low as the gap between the official and parallel market rates has significantly dropped.

The naira, which has sustained rally across markets in recent months, trading at N1,455/$ as of yesterday according to the Nigeria Foreign Exchange Market (NFEM) and N1,460 to N1,470,$ at the unofficial black market.

Daily Trust reports that the naira is making its strongest gain in the year with the improvement attributed to surge in foreign reserves to $43.05 billion and drop in speculative FX activities as the impact of the Central Bank of Nigeria (CBN’s) reforms continue to drive positive sentiments and confidence across markets, according to analysts.

A country’s currency is an instrument of her pride. For the Nigeria naira, a turbulent past that saw it lose its significant value is almost over, according to analysts.

The local currency rebound is being driven by a combination of stronger demand for the naira, reduced speculative trading, and rising foreign reserves now at $43.05 billion.

Besides, the forex reforms instituted by the CBN Olayemi Cardoso are now yielding great benefits from reduction in forex speculation and narrowing of gaps between official and parallel markets.

The CBN leadership has continued to take major steps to keep the naira stable in line with its exchange rate stability objective.

The apex bank is boosting FX supply to retail end users, reducing distortions in the market and maintaining effective foreign reserves management and accretions.

The injection of liquidity into the market and rising compliance with FX regulations have reduced sharp depreciation of the naira at official and parallel markets and buoyed foreign investors’ interest in the domestic economy.

The naira stability is also driven by inflows from Foreign Portfolio Investors (FPIs), substantial contributions from International Oil Companies (IOCs), and the CBN’s interventions to authorised dealers.

There is also renewed interest of Foreign Portfolio Investors (FPIs) in the FX market-driven by improved market confidence, a more efficient FX framework, and strengthening macroeconomic conditions.

The CBN chief Cardoso recently announced that gross external reserves remained robust at $43.05 billion on September 11, 2025, compared with $40.51 billion at end-July 2025 with an import cover of 8.28 months.

‘Similarly, the second quarter 2025 current account balance recorded a significant surplus of $5.28 billion compared with $2.85 billion in the first quarter of 2025,’ Cardoso stated during the 302nd monetary policy committee meeting held in Abuja last week.

FX speculations drop

A Bureaux De Change (BDC) trader based in Marina, central Lagos, Garuba Sarki, said many dealers lost huge funds as they sold below purchase rates as exchange rate gap narrowed.

‘I know some BDC operators that sold dollars below the purchasing rate. This is expected to continue in the weeks ahead. Also, the expected dollar inflows to the economy will help strengthen the naira position against the dollar,’ he said.

Analysts at Commercio Partners attributed the rally and gradual narrowing of the exchange rate gap to a combination of stronger demand for the naira, reduced speculative trading, and improved foreign reserves.

Head of Research at Commercio Partners, Ifeanyi Ubah, expressed optimism that the positive sentiment would be sustained in the near term, supported by increasing external buffers.

‘Nigeria’s rising external reserves are reflecting a healthier external position for the country. With reserves strengthening, speculative activity subsiding, and oil earnings supporting inflows, many market watchers believe the naira’s current rally has a stronger foundation compared to previous cycles of volatility,’ he said.

Call for caution

However, other experts caution that sustaining this momentum will depend on the government’s ability to maintain macroeconomic discipline, boost crude oil production, and diversify export earnings.

President, Association of Bureaux De Change Operators of Nigeria (ABCON), Aminu Gwadabe, said key policies like the Foreign Exchange (FX) Code, rising investors’ confidence, and foreign direct investment supporting policies are effectively putting FX speculators in check.

He said the FX Code implementation is comprehensively addressing various aspects of market conduct and practices.

Daily Trust reports that the policy authorises the CBN to establish and enforce directives regarding the standards for financial institutions under which FX deals are to be conducted.

Gwadabe said the code further entrenches transparency and accountability in the FX market, and continually sustains naira stability and rally.

He also backed CBN’s position that all institutions engaged in the foreign exchange market must also provide the CBN with a detailed implementation plan outlining how they intend to achieve full compliance with the FX Code.

Cardoso had at the launch of the Nigeria Foreign Exchange Code (FX Code), emphasised integrity, fairness, transparency, and efficiency as critical pillars for driving Nigeria’s economic growth and stability.

According to Cardoso, ‘The FX Code represents a decisive step forward, setting clear and enforceable standards for ethical conduct, transparency, and good governance in our foreign exchange market. The era of opaque practices is over. The FX Code marks a new era of compliance and accountability. Under the CBN Act 2007 and BOFIA Act 2020, violations will be met with penalties and administrative actions.’

Gwadabe, said the policy shifts showed the level of creativity, policy and hard work the Cardoso puts in ensuring that more forex flows into the economy and remain accessible to businesses.

Boosting remittances inflows

As part of its efforts to boost diaspora remittances and support naira stability, the CBN recently announced the introduction of two new financial products designed to serve Nigerians living abroad.

The Non-Resident Nigerian Ordinary Account and the Non-Resident Nigerian Investment Account was created to streamline remittances, encourage investments, and foster financial inclusion among Nigerians in the diaspora.

It said, ‘The Central Bank of Nigeria is pleased to inform the general public of the introduction of the Non-Resident Nigerian Ordinary Account and Non-Resident Nigerian Investment Account targeted at Nigerians in diaspora.’

The Non-Resident Nigerian Ordinary Account was designed to facilitate remittances by allowing non-resident Nigerians to remit foreign earnings into Nigeria and manage funds in foreign currency or naira.

Deposits from sources such as salaries, allowances, and dividends are supported, alongside spending on family maintenance, education, and healthcare.

On the other hand, the Non-Resident Nigerian Investment Account provides an opportunity for NRNs to invest in Nigeria’s financial markets, including foreign currency-denominated bonds, fixed deposits, and local assets like equities, government securities, and mortgage products.

The CBN explained that both accounts offer currency flexibility, enabling holders to maintain balances in either foreign currency or naira.

Account holders will also be able to convert funds between the two currencies at prevailing exchange rates through authorised dealers.

The CBN’s initiatives have supported continued growth in these inflows, aligning with the institution’s objective of doubling formal remittance receipts within a year.

The remittances in the economy is expected to increase based on CBN’s ongoing efforts to bolster public confidence in the foreign exchange market, strengthen a robust and inclusive banking system, and promote price stability, which is essential for sustained economic growth.

In a report: ‘Diaspora remittances: The power behind Africa’s sustainable growth’, Regional Vice President of Africa at Western Union, Mohamed Touhami el Ouazzani, said remittances may be measured through the movement of money, but their real impact is measured in lives changed.

He disclosed that in 2023 alone, $90 billion flowed into Africa from its global diaspora, an amount that rivals the Gross Domestic Product of the entire region.

He said that remittances symbolize deep ties that keep communities connected across borders. ‘Families with a breadwinner working abroad depend on these funds to provide vital support for day-to-day needs. They also build the foundation for broader financial stability,’ he said.

For remittances to be truly transformational, it begins with understanding and meeting people’s aspirations. Ensuring individuals who strive for more can send and receive funds, regardless of their financial status, is crucial. We must cater to diverse needs.

‘In a continent renowned for its entrepreneurial spirit, offering multiple channels for remittance access is key. Whether through bank accounts, digital wallets, mobile money apps, or cash pickups, this flexibility ensures that funds are delivered in ways that best suit local realities. Providing innovative and inclusive solutions empowers individuals to not only manage their immediate needs but also to invest in long-term growth opportunities,’ he added.

According to him, every remittance is a seed of change – a deliberate investment in a future where borders blur.

‘The future of remittances in Africa transcends mere financial support. By strategically directing funds into sectors that need them most, Africa’s diaspora is not just sending money home; they are building resilient economies and challenging traditional models of progress,’ he said.

The Edo State Governor, Senator Monday Okpebholo, has rewarded Team Edo with the sum of N10 million for their outstanding performance at the 9th National Youth Games held in Asaba, Delta State.

Team Edo finished third overall, behind Team Lagos (second) and Team Bayelsa (first), after winning 33 gold, 18 silver, and 28 bronze medals.

Receiving the athletes at Government House in Benin City, alongside his deputy Denis Idahosa, Governor Okpebholo praised the team’s resilience, dedication, and impressive achievements.

‘I congratulate our team for putting in their best and securing third position with 33 gold, 18 silver and 28 bronze medals. This is an impressive achievement. But, I challenge you to do more and put in your best to claim first position in the next edition. Edo deserves first place, and with commitment and discipline, we will get there,’ the governor said.

He explained that the N10 million cash reward was in recognition of the athletes’ dedication and resilience, stressing that their efforts had brought pride and honour to Edo State.

‘For your efforts, I am pleased to reward you with the sum of N10 million. I believe with harder training, greater victories await Edo,’ he added.

Governor Okpebholo further assured the athletes of continuous government support but urged them to show greater commitment in future competitions.

‘My administration will continue to support you, but I want to see stronger dedication and more commitment in the coming years,’ he noted.

Also speaking, the Chairman of the Edo State Sports Commission, Mr. Amadin Desmond Enabulele, commended the governor for his unwavering support of sports development.

He highlighted that Governor Okpebholo’s prioritization of athletes’ welfare was key to the team’s improved outing.

‘With continued government support, Edo athletes will surpass their current achievement and position the State as a dominant force in national sports,’ Enabulele said.

The General Manager, Mikano Motors LHCV, Arab Gazi, has expressed confidence ahead of the 2025 edition of Nigeria Mining Week, stating the company’s focus on showcasing cutting-edge machinery designed to advance Nigeria’s mining and extractive industries.

The much-anticipated 3-day conference and exhibition will take place from Monday, October 13, to Wednesday, October 15, 2025, at the Abuja Continental Hotel. According to Gazi, the machinery from Lovol Heavy Industry Group is purpose-built to meet the demanding needs of both the mining and construction sectors.

‘We are proud to participate once again in Nigeria’s premier mining event, where we will present the latest innovations from our Lovol heavy equipment range. Mikano remains dedicated to equipping Nigerian professionals with reliable, high-performance machinery that delivers productivity, efficiency, and long-term value,’ Gazi said.

Also speaking ahead of the event, Aaron Lee, Sales Manager for Lovol’s Overseas Department, praised Mikano Motors LHCV as a trusted strategic partner.

‘We are pleased with our continued collaboration with Mikano Motors LHCV. Their deep market understanding and commitment to quality allow us to deliver machinery that meets and exceeds the needs of mining professionals in Nigeria,’ Lee stated.

Li further highlighted that Lovol’s heavy-duty vehicles are built to withstand the toughest conditions, ensuring durability and performance for the country’s mining and infrastructure projects.

The Lovol lineup on display will include the excavator and wheeled loader – each engineered for superior efficiency, productivity, and operational reliability.

Mikano Motors’ participation in Nigeria Mining Week 2025 underscores its commitment to powering the future of Nigeria’s mining industry through world-class equipment and expert support.

The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has reaffirmed President Bola Tinubu’s commitment to connecting rural communities with road infrastructure.

Wike spoke in Abuja during the inauguration of a seven-kilometre access road bypassing the Airport Second Runway from Bill Clinton Drive to Tunga Madaki settlements.

He explained that the access road, which includes a four-span bridge, would connect nine communities and terminate at Zuba Road.

According to him, the project fulfils President Tinubu’s promise to the community for donating land towards the construction of a second runway at Nnamdi Azikiwe International Airport.

Wike assured residents that the project would be completed by mid-2026, to mark Tinubu’s third year in office.

President Bola Ahmed Tinubu will depart Lagos on Saturday, October 4, for Jos, Plateau State capital.

The President is expected to attend the funeral service of Nana Lydia Yilwatda Goshwe, mother of the All Progressives Congress, APC National Chairman, Professor Nantewe Yilwatda Goshwe.

Bayo Onanuga, Special Adviser to the President on Information and Strategy, in a statement said, while in Plateau, the President will later address Church Leaders across the North at the headquarters of the COCIN Church in Jos.

President Tinubu will return to Lagos on the same day after the visit.

Meanwhile, the Plateau State Ministry of Information and Communication has notified the general public, particularly vehicle owners and commuters within Jos and Bukuru metropolis, of traffic diversions and restrictions in view of the President’s visit.

In a statement on Friday, RT Hon Joyce Lohya Ramnap, Commissioner for Information and Communication, said to ensure a smooth flow of traffic and to facilitate the movement of the Presidential entourage, all motorists should make use of alternative routes from 7 am on Saturday 4th October, 2025.

‘The following routes would be closed: 1. Mararaban Jama’a through Bukuru express way. Dadin- kowa, Old Airport, to Plateau roundabout. ?Hillstation roundabout to COCIN Headquarters/Central Bank road.’

‘We appeal for the cooperation and understanding of residents as these measures are temporally taken in the interest of security and public peace,’ the statement read.

Many motorists and road users are feared dead as a fuel laden tanker on Friday fell and triggered fire along the Abeokuta-Sagamu expressway in Ogun State.

It was gathered that the tanker fell on its side and spilled its content along the Abeokuta-Kobape-Siun-Sagamu/Interchange stretch of the expressway.

The spokesman of Ogun State Traffic Compliance and Enforcement Agency, Babatunde Akinbiyi, in a traffic alert, said the development resulted into a fire outbreak.

He blamed the crash on speeding and loss of control on the part of the driver.

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Akinbiyi said the casualty figures could not be ascertained yet, but rescue and emergency services are ongoing.

The statement read, ‘The case of an inferno caused by a 30,000 fuel laden tanker which fell on its side and dispensing its content in the wee-hours of today around 0100hrs (1am), along the Abeokuta-Kobape-Siun-Sagam/Interchange stretch of the PMB Expressway, due excessive speed and loss of control has been reported.

‘The effect of the unfortunate incident also extended to the burning of a truck and a tow vehicle along the road side, as well as the destruction of a cable supplying electricity to Mowe and environs.

‘Though the casualty figures cannot be ascertained presently, rescue/emergency services made of the TRACE, Ogun State and Nestle PLC Fire Service, FRSC and the Police are still on ground to restore normalcy and orderliness after quenching the fire and decantation process.

‘The general public, particularly the motoring public on transit along the route are implored to be calm, patient and cooperate with the diversion and re-routing of traffic put in place by TRACE, Police, Ogun State Fire Service, FRSC, AMOTEKUN and the NSCDC.

‘However, any inconveniences as a result of this unfortunate incident is highly regretted.’

The police command in Edo State says it has begun strict enforcement of tinted glass permits across the state from Thursday in line with the directive of the Inspector-General of Police.

Mr. Monday Agbonika, the Commissioner of Police in Edo, disclosed this via a statement by the command’s Public Relations Officer, CSP Moses Yamu.

Agbonika said the move was part of measures to enhance public safety and curb crimes perpetrated with unregistered or unauthorized vehicles.

‘From Thursday, our officers will stop and impound vehicles with factory-fitted and non-factory-fitted tinted glasses without a valid permit issued by the Nigeria Police Force,’ the commissioner said.

The police chief stressed that motorists must obtain the required permits through the official online portal.