Transport minister proposes N205bn capital budget for 2021

The Minister of Transportation, Rotimi Amaechi has proposed N205 billion as capital budget for 2021 to enable the ministry to make significant progress on all its ongoing projects. Amaechi made this known in a statement to newsmen during his presentation before the Joint Committee of the Senate and House of Representatives on Land and Marine[...]

Read More

Shocking Reactions to Ban of Opposite Sex in the Same Tricycle in Kano

Mixed reactions have continued to trail Kano State government’s plan to ban the opposite genders from entering the same tricycle in the state from January 2020. The state government had said beginning from January 1, 2020, opposite sex riding on the same tricycle, without a proven relationship would be arrested. Speaking at the close of[...]

Read More

London about to ban Uber

Uber is awaiting a crucial decision from London’s transport regulator on whether to grant the ride-hailing giant another license to operate in the U.K. capital. The company’s permit expires Monday at 11:59 p.m. London time, and according to Transport for London (TfL) a decision is yet to be reached. “TfL is considering Uber’s application and[...]

Read More

Port Authority Decries Exportation Transport

The Nigerian Ports Authority (NPA) has decried a situation whereby over 95% of cargoes are exiting seaports through trucks, expressing its commitment to embrace multimodal transportation through the use of locomotive trains and barges. The Managing Director NPA, Hadiza Bala Usman, also reiterated the Authority’s determination to ensure effective service delivery in all Nigerian Ports[...]

Read More

Uber shares slide after posting quarterly loss of $5.2bn

Uber shares tumbled Thursday after the leading ride-share company reported its loss eclipsed Wall Street expectations in the recently ended quarter. The San Francisco company said revenue grew 14 percent to $3.2 billion but it lost $5.2 billion as compared to losing $848 million in the same period last year. Stock related compensation expenses took[...]

Read More

Electric Scooters are the Future of Transportation- Chinese Tech CEO!

As many cities are trying to boost environmentally friendly public transit systems, one Chinese tech CEO says smart electric scooters may be the new future of urban mobility. Due to congestion in many cities, cars tend to travel at about 15 kilometers per hour, on average, while moving room in subways during rush hour is[...]

Read More

Gokada raises $5.3m to increase daily rides by 1,000 percent

Gokada, the Lagos-based on-demand motorcycle taxi app, has secured a series A fundraiser of $5.3 million. Led by Rise Capital with participation from Adventure Capital, First MidWest Group, IC Global Partners and several local investors, Gokada says it will deploy its investment to expand its driver fleet, increase daily rides by 10 fold and acquire[...]

Read More

In Saudi Arabia,Careem launches first Bus Service.

Dubai's Careem launches first bus service in Saudi Arabia Dubai-based company recently acquired by Uber Technologies announces move into mass transport in Saudi Arabia Careem will provide direct rides between Jeddah on the Red Sea to the holy city of Makkah for 25 riyals ($6.70) each way, a distance covering about 85 kilometres (53 Miles)[...]

Read More

EFCC arrests ponzi scheme operator who ‘defrauded Nigerians to the tune of N7bn’

The Economic and Financial Crimes Commission has arrested the Executive officer of Galaxy Transport and Construction Services Limited for allegedly defrauding Nigerians to the tune of N7bn through a pyramid ponzu scheme. The commission said 27,400 Nigerians lost N7 billion through fake promises of high returns on their investment in Dalori’s companies. In a statement,[...]

Read More

Buhari set to Commission many uncompleted Projects on his Visit to Lagos today

Nigeria President Muhammadu Buhari will on Wednesday commission projects of the Lagos State Government, some of which are yet to be completed. “Preparations are in top gear as the Lagos State Government will host President Muhammadu Buhari on an official visit to Lagos on Wednesday, 24th April 2019,” the state government said in a statement.[...]

Read More

Lyft opens its IPO road show, to offer more than 30M shares

Lyft officially kicked off the road show for its initial public offering, saying Monday it plans to put more than 30 million shares up for sale with an anticipated price of between $62 and $68 per share. That would raise more than $2 billion for the San Francisco ride-hailing company, pegging its market value at[...]

Read More

No Boeing 737 Max 8 flying in Nigerian airspace, says NCAA

Following the crash of Ethiopia's Boeing 747 Max 8 last Sunday, the Nigerian Civil Aviation Authority (NCAA) has released a statement assauring Nigerians of the state of aircraft flying in the country’s airspace and aircrafts.    The NCAA spokesperson, Sam Adurogboye, said there was no cause for worry as no Boeing 747 Max 8 is presently[...]

Read More

Taxify changes its name to Bolt

Taxify, the ride-hailing service from Estonia, has changed its name to Bolt, “in other to reflect its global expansion strategy”. The company said it took the decision to expand its services, which include providing multiple transportation options beyond private cars. It has been using the name Bolt for its new electric scooter service “The rebrand[...]

Read More

Uber lost $1.8 billion in 2018

Uber, the most highly valued U.S.-based startup, is heading into its much-anticipated IPO after more than one billion dollars in losses last year. The company lost $1.8 billion in 2018, the first full year under new CEO Dara Khosrowshahi, according to the company's select financial results for 2018 released on Friday. The staggering figure represents a modest[...]

Read More

Lagos-Ibadan rail: FG orders importation of 30 coaches, 300

The Federal Government has placed orders for the importation of 30 coaches and 300 wagons to be deployed on the Lagos-Ibadan railway when the project is completed. According to the Minister of Transportation, Rotimi Amaechi, the coaches and wagons will boost the movement of passengers and goods from Lagos to other locations in the South-West.[...]

Read More