35 C
Lagos
Tuesday, January 21, 2020
Home Business Dangote loses N25b to Apapa gridlock

Dangote loses N25b to Apapa gridlock

Africa’s richest man Aliko Dangote said he lost N25 billion($68.6million) to the Apapa ports-Oshodi gridlock from 2017 to the 2019 financial year.

He spoke on Saturday evening as he and works and housing minister, Babatunde Fashola took a tour of the most vital highway in Nigeria, now being rebuilt by the Dangote Group at a cost of N72.9 billion.

He lauded the quality of work taking place on the road, saying that the development was reviving commerce in the Apapa area.

“This road will actually open up the economy. It will bring a lot of jobs and a lot of factories that have moved out will be able to move back.

“What I can also assure you is that this road will be finished before the end of next year.’’

He commended the cooperation of Apapa residents, noting that the development was responsible for the progress of the reconstruction.

He said the road would have 10 lanes, stretching from Apapa to the Toll Gate at Ojota on the Lagos-Ibadan Expressway.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Brutal Murder Of Rev. Lawan Andimi: Nigerian Government Must End Wanton Killing

CAN Declares 3-day Prayers and Fasting ... Calls for a total overhauling of the security architecture ...Passes vote of No Confidence in the...

Alleged $2.1bn arms scam: Absence of Fani-Kayode stalls trial continuation

The absence of the former Aviation Minister, Chief Femi Fani-Kayode at the Federal High Court, Abuja, on Tuesday, stalled the trial continuation.

9 Imo lawmakers join APC, as deputy speaker resigns

Nine lawmakers of the Imo House of Assembly have defected to the All Progressives Congress (APC) from the Peoples Democratic Party, All...

Oxford dictionary adds Danfo, ember months, Okada, Tokunbo, K-leg, 24 others in latest update

Oxford English Dictionary has added 29 Nigerian words and expressions in its January updates to the dictionary. This was...

Recent Comments

Onuegbu Chuks Theophilus on Mikel Obi quits Super Eagles
Thomas H. Anderson on Roman Goddess_3
Oladimeji Emmanuel on Obama sends investors to Buhari