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News - Nairametrics

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The Lagos State Government has announced a traffic diversion plan for the repair of the Marine Bridge which will take place from May 18 to June 8. This diversion will affect commuters traveling between the Lagos Island and the Mainland as the bridge will be closed to traffic during this period. The government has advised motorists to use alternative routes and has also provided a map to guide drivers. The repairs are necessary to ensure the safety of commuters and to maintain the structural integrity of the bridge. The government has apologized for any inconvenience caused and has promised to complete the repairs on schedule.

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The Environmental Enforcement Agency (EEA) has sealed 21 facilities in the Federal Capital Territory (FCT) for non-compliance with environmental regulations. The facilities were found to be operating without valid permits proper waste disposal systems and other necessary environmental measures. The EEA in collaboration with other agencies conducted inspections and identified the facilities that were violating environmental laws. The sealed facilities included gas stations hotels and warehouses. The EEA has warned that it will continue to crack down on non-compliant facilities in order to protect the environment and ensure public health and safety. The agency has urged all businesses to adhere to environmental regulations to avoid facing similar consequences.

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The Nigerian Exchange Group (NGX) has reported a significant increase in total investment transactions for the month of March 2025. According to the report there was a surge of 118.95% compared to the same period in 2024. This surge was largely driven by explosive foreign participation with foreign investors accounting for 55.8% of the total transactions. The report also highlighted the positive impact of the NGXs demutualization which has led to increased confidence and participation from both local and foreign investors. This surge in investment transactions is a promising sign for the Nigerian economy and reflects a growing interest in the countrys capital markets.

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Protesters have joined the growing calls for a thorough investigation into the tenure of former Nigerian National Petroleum Corporation (NNPC) boss Mele Kyari. The protests which took place in Abuja and Lagos were led by various groups and activists who are demanding transparency and accountability in the management of the countrys oil sector. Kyari who resigned from his position in July 2021 has been accused of mismanaging funds and awarding contracts without due process. The protesters are also calling for the prosecution of those found guilty of corruption in the NNPC. The widespread protests show the publics frustration with corruption and their demand for justice.

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The UK government has announced a reduction in the length of the graduate visa from two years to 18 months. This change comes as part of a proposal to introduce a new levy on foreign student fees. The proposed levy would require international students to pay an additional fee on top of their tuition fees which would go towards funding the National Health Service (NHS). This move has sparked concerns among universities and student organizations who fear that it may discourage international students from choosing the UK as their study destination. The government maintains that the levy will help support the NHS and reduce the burden on UK taxpayers.

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The UK government has proposed new immigration reforms that aim to prioritize high-skilled workers and reduce low-skilled migration while also providing a pathway to citizenship for eligible migrants.

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The Nigerian National Petroleum Corporation (NNPC) has announced plans to resume crude oil drilling in northern Nigeria. This comes after a decade-long hiatus due to security concerns in the region. The NNPC stated that the resumption will be in collaboration with the Nigerian Petroleum Development Company (NPDC) and other stakeholders. The move is expected to boost the countrys oil production and revenue as well as create job opportunities in the region. The NNPC also assured that necessary measures have been put in place to ensure the safety and security of the operations. This development is a positive step towards the diversification of Nigerias oil production and economic growth.

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Fidelity Banks Q1 2025 performance sees a 167.79% increase in pre-tax profit propelling the bank to new heights and solidifying its position in the market.