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LASG Commissions New Asphalt Plant

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Mr. Babatunde Fashola, he Lagos State Governor, will commission the newly established 160/HR Asphalt plant in Imota before the end of the week.

Mr. Gbenga Akintola, executive chairman, Lagos State Public Works Corporation (LSPWC), who disclosed this at a press briefing at LSPWC’s headquarters  in Lagos, explained that the new plant, which was initiated in January 2013, is expected to cater for about 404 roads in the Local Government and Local Council Development Areas around Ikorodu and Epe axis, adding that the first batch of asphalt was produced at the plant on the 25th of December, 2013.

Akintola stated that the construction of another 160T/HR asphalt plant located in Ajido, Badagry Local Government Area has reached 35 % completion stage, stressing that the manufacturing of the plant itself has been concluded in Italy and shipping of its components will commence any moment from now.

He said, “It is anticipated that the Badagry 160/hr asphalt plant will be commissioned and begin full scale operation before the end of the second quarter of 2014”, adding that “it shall cater for about 400 roads within the Amuwo, Ojo and Ajeromi-lfelodun axis in Badagry upon completion”.

Recalling the sorry state of road infrastructure in the State, prior to August 2010 when the present administration began to invest massively into the corporation in a bid to reposition it, Akintola noted that the agency has since recorded landmarks achievements in the maintenance of road infrastructure all over the State in order to meet the needs of Lagosians.

He highlighted some of the Corporation’s achievements in the past year to include the maintenance of 988 roads in the state as against 705 roads in 2012 and 568 in 2011; the replacement of 251 manhole covers and grating in the year 2012/2013, while a total of 350 have been earmarked to be replaced and grated for the 2013/2014 period.

The LSPWC Boss also disclosed that the corporation interlocking paving stone production factory located within its asphalt yard in Ojodu-Berger and commissioned in June 2013 by Governor Babatunde Fashola, has produced a total of 26,840 square metres of paving stones which had been used to repair more than 15 major roads in the State.

He noted that, apart from the substantial sum of money saved by the corporation from the establishment of these plants, some of its positive implications are the downturn in the number of damage roads recorded which justifies the staggering upward movement in the comparative annual number of roads maintained between 2009 and2013.

Responding to a major question on how to enforce the relevant laws to dissuade people from indulging in activities that cause road damage, the Chairman stated that the corporation is set to collaborate with the Lagos State Environmental Task Force to begin monitoring of the environment in order to arrest and prosecute anyone caught in the act in line with the Lagos State Environmental Sanitation Law of March 2001.

Akintola, however, calls for the support and collaboration of all Lagosians in its corporation’s efforts toward ensuring well maintained good and motorable roads in the State all year round.


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NCC Threatens Illegal Users of GSM Boosters with Arrest, Prosecution

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Nigerian Communication Commission (NCC) has warned telecom consumers to desist from using illegal GSM boosters.

NCC Threatens Illegal Users of GSM Boosters with Arrest, Prosecution

The commission also said that anyone caught using a GSM booster without obtaining approval of a duly licensed network operator will face arrest and prosecution.

GSM boosters are devices that transmit and receive telecommunications signals and can therefore interfere with other radio frequency equipment.

Ikechukwu Adinde, director, public affairs, NCC, said in a notice published on NCC website, that only licensed network operators are allowed to use GSM boosters.

The booster, also known as amplifier or repeater is made up of three main elements – exterior antenna, amplifier, and interior antenna.

They form a wireless system to boost cellular reception

“Members of the public should note that, willful interference with any wireless telegraphy is an offence under Section 16 of the Telegraphy Act, 2004,”it said

The agency said it will not condone any flagrant breach of this law.

It has also enforced measures to prosecute offenders.

Accordingly, monitoring mechanisms have been put in place and anyone caught using a GSM booster without obtaining approval of a duly licensed network operator will face arrest and prosecution.

“Any member of the public with useful information regarding the illegal use of GSM Boosters should contact the Commission on 09-4617000/7351 or send an email to [email protected],” the notice said.

“Individuals desirous of using GSM Boosters should note that they can only do so in conjunction with licensed network operators,” it added.

 

 


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Tizeti Selects Nokia to Provide LTE Fixed Wireless Access Solution for High-Speed internet Services in Nigeria

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Tizeti announced that it selected Nokia’s Fastmile Long Term Evolution (LTE) technology to enable usprovide superior internet services to over 1 Million subscribers in Port Harcourt, Edo and Ogun in Nigeria.

Tizeti Selects Nokia to Provide LTE Fixed Wireless Access Solution for High-Speed internet Services in Nigeria

Tizeti will deploy Nokia’s AirScale Base Station TDD-LTE and FastmileFixed Wireless Access (FWA) gatewaysto deliver premium internet and Virtual Private Network (VPN) services to Residential, Small and Medium Enterprises (SMEs).

The solution will also enable Tizeti’sto deliver a more robust, high-speedinternet service to subscribers and the flexibility to seamlessly evolve to 5G Fixed Wireless Access when needed.

Nokia’s FWA solution enables Tizeti to fast-track broadband access and provide a best-in-class broadband experience to its subscribers.

Nokia’sAirScale Base Stations ensure high-quality connectivity and coverage and enablesTizeti to evolve the network in line with customer demand.

Nokia’sFastmilegateways connect wirelessly to the existing network to createa fastbroadband connection and enhanced Wi-Fi experience in the home.

The Nokia Network Services Platform will help Tizeti to simplify operations and quickly respond to changing market demands.

Kendall Ananyi, Tizeti, said:“We are committed to providing the best-in-class network experience to our subscribers. We are confident that Nokia’s proven technology and expertise will help us differentiate our services based on quality. This a crucial project for us as it introduces LTE in our networks and allows us to bring new and innovative services to our subscribers.”

Eniola Balogun, Nokia, said:“We are thrilled to work with Tizeti on the initiative to upgrade their network to bring the latest products and services to its subscribers. Nokia Fastmile will help Tizeti to cost-effectively enhance the customer experience.

The project will also enable them to delight their subscribers by providing more reliable data services.

On the other hand, Tizeti will benefit by adding new revenue streams.”

 

 


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Risk Assets Push Higher on Vaccine Hopes; Eyes on the Fed

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By Hussein Sayed, Chief Market Strategist at FXTM,

After two consecutive weeks of back-to-back declines, global stocks kicked off Monday with solid gains amid a surge in M&A activity and positive signs towards vaccine developments. Currency markets were little changed ahead of a busy week of monetary policy announcements, while Oil and Gold ticked slightly higher.

The two big deals announced over the weekend were Softbank’s plan to sell chipmaker ARM to Nvidia for more than $40 billion and Gilead Sciences to acquire Immunomedics for a price tag of $21 billion. Meanwhile, on the vaccine front, AstraZeneca resumed its phase-3 trial on Covid-19 after being suspended last week following a neurological illness developed in one participant, and Pfizer announced that its vaccine could be distributed before year-end if found safe and effective.

 

Central Banks will take centre stage this week with the Federal Reserve, Bank of England and Bank of Japan all due to announce policy decisions. Out of the three meetings, the Fed is likely to be the most watched following its historic shift towards average inflation targeting. The big question remains how will the FOMC put this policy into action?

 

From what we know now, the Fed is set up to keep interest rates near zero for a long time, possibly for several years. Given the new framework, any spike in inflation won’t translate into immediate rate hikes as the Fed wants to compensate for the lost years when they have failed to hit the target. The dot plot will be the key guide for investors and traders alike. If inflation projections remain at 2% or below for the foreseeable future, this will solidify market expectations for a low rate environment for many years to come. That said, Jay Powell would still have to explain in more detail how the new framework will be translated into policy action.

 

In June’s economic projections, the Fed anticipated unemployment would be at 9.3% by year-end, but, in August, unemployment was well below that forecast at 8.4%. Many other economic data surprised to the upside during the June – August period in a clear sign that most economists were overly pessimistic towards the strength of the recovery. However, there is still a considerable amount of uncertainty given the latest surge in Covid-19 cases worldwide and the US, especially as we get closer into the winter season. A second wave will undoubtedly put the recovery at risk in the final quarter of the year and it will be interesting to see the Fed’s view on that issue.

 

As for the market selloff over the past two weeks, the Fed isn’t likely to show any signs of concern. In fact, policymakers should be satisfied with the pullback as the risk of a bubble in several assets has been growing due to the Fed’s extremely accommodative policies. Unless we see another 10 -15% drop, do not expect the Fed to intervene.


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