Although, Nigeria is currently winning the war against terror group Boko Haram and the activities of the militants seem to be dwindling but the Lagos State Government is taking no chances. It has insured the Lekki-Ikoyi Link Bridge, roads and other important state-owned infrastructures for N133 billion against terrorists attack and natural disasters.
“Strategic assets such as bridges, drainage channels and roads are now specifically insured against natural disasters and terrorist attacks, amongst others,” Commissioner for Finance, Ayo Gbeleyi said while speaking on the financial activities of the state government in the last one year.
“This action is for the benefit of the residents of Lagos State. This is under the special risk cover against disaster and terrorism. The premium is N247 million for the year and that insures an asset of about N133 billion of the state,” he added.
A breakdown of the insured infrastructures revealed that the cable bridge, Lekki-Ikoyi Link Bridge, was insured for N35 billion.
“You need to remember that in insurance, we tried to cover the replacement cost. Often times, we aren’t dealing with the historical cost of construction (N29 billion).
“We are looking at, God forbids, if we have a situation with the bridge. How much will it cost to reinstate it? And that is the figure that I have given you as the insured value of the Lekki-Ikoyi Link Bridge,” he said.
He noted that the development was part of the restructured and optimised Insurance Risk programme of the state which in scope serve as cover for critical assets and staffs of the state.
The commissioner also commented on why Lagos State dropped on statistical rating organizations, Fitch’s rating.
“On April first, Fitch rating agency slightly reduced the state’s rating in terms of outlook from BB minus stable it was until March 31st, 2015 to BB minus negative.
“The rating of any sub-national body will normally trail the rating of the country. The moment the rating agency downgraded the country’s rating, from stable to negative. It is only natural that any sub-national organisation will take a cue from that. The state’s rating is tied to national rating,” he said.
Several Injured As Thugs Attack #EndSARS Protesters, Governor Oyetola In Osun
Some of the vehicles in the Governor’s convoy were also destroyed by the thugs but the Governor himself was evacuated to safety by his security team.
As the convoy was leaving the protest venue, some of the youths continued to stone his vehicles.
While the protest was disrupted, Governor Oyetola assured the injured victims that the government would be responsible for their medical bills.
#EndSARS: Sanwo-Olu Constitutes Panel Of Enquiry
In a bid to quell the #EndSARS protest which is spreading like a raging inferno across the country, Babajide Sanwo-Olu, the Governor of Lagos State has set up a panel of inquiry and restitution for victims of SARS.
This was announced in a statewide broadcast on Thursday.
The panel will be a 7-man panel which will ensure that all those with verifiable cases of SARS brutality or fatality receive compensation.
The Panel will be chaired by retired Justice Doris Okuwobi, while members are Ebun Adegboruwa, SAN (representing the Civil Society), Taiwo Lakanu (a retired Deputy Inspector General of Police), Patience Udoh (representing the Civil Society); Segun Awosanya aka Segalink (Human Rights Activist).
Others are Olutoyin Odusanya (Director, Citizens Mediation Center), a rep/member of the youth-led protest, and a representative of the Human Rights Commission.
There will be a help desk for the complaints and petitions to the panel.
Governor Seyi Makinde Loses 81-Yr-Old Mother
Abigail Makinde, the mother of the governor of Oyo State, Seyi Makinde, is dead.
The Chief Press Secretary to Mr Makinde, Taiwo Adisa, however, told newsmen that the family will soon make an official statement on the death of the deceased.
He said: “Yes. The family will make an official statement.
“The family will soon make an official statement. In the next few minutes, the family will make an official statement, in few minutes.”
It was gathered that Mr Makinde lost his father, Olatunbosun Makinde, a few years ago.
It was learnt that Mrs Makinde died in the early hours of Thursday.
She died at the age of 81.
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