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Fuel Tanker Explodes Again In Lagos

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Fuel Tanker Explodes Again In Lagos

Another fuel tanker explosion has been reported in Lagos Badagry Expressway on Tuesday morning.

Casualty has not been ascertained, but unconfirmed reports say four tankers were involved in the accident and many commercial buses were up in flames.

Many Nigerians have taken to twitter to report the incident which is said to have occurred at 5.32 am at Barracks bus stop in Ojo.

According to Jose ‏ @yemmytimmydar, “A big bang of tanker explosion at Barracks now 5:32am’’

GIDITRAFFIC ‏Verified account @Gidi_Traffic which retweeted”@olaabdulakeem: “ Tanker explosion at Barracks Bustop along Lagos Badagry Exp way this early morning 2/10/2018. No loss of life had been confirmed though.’’

Details on the latest accident later, but the last fatal oil tanker explosion occured on June 29 in Lagos and was reported to have killed many people and destroyed 54 cars when the tanker fell on Otedola Bridge along Lagos-Ibadan Expressway.

It took the effort of the Lagos State Emergency Management Agency (LASEMA), Lagos State Traffic Management Agency (LASTMA), Lagos State Fire Service, Federal Road Safety Corps (FRSC), Lagos State Ambulance Service (LASAMBUS), State Environmental Health Monitoring Unit (SEHMU), Rapid Response Squad (RRS), the Nigeria Security and Civil Defence Corps (NSCDC), the police and other agencies to put out the fire and restore calm on the road.

eneral Manager, LASEMA, Adeshina Tiamiyu, said: “The accident happened around 5.25pm and involved a tanker loaded with petrol. The tanker fell and spilt its content, causing fire which burnt 54 vehicles. The vehicles, which were of different models, were trapped behind the truck.

“Some motorists, who turned to run away, crashed into other vehicles. Some jumped out and others fell into the gutter in the course of running away. We found dead bodies on the ground and in the gutter. Some of the people who died in the gutter had probably been caught by the fire and jumped into the gutter to put it out.

“Nine dead bodies have been recovered and four were injured. Two were seriously injured, while two sustained minor injuries. The injured have been taken to a hospital, while the bodies have been taken by SEHMU to the mainland hospital mortuary. We are currently making efforts to remove the burnt vehicles from the road.”

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Nigerian News

IATA Inaugurates Turbulence Aware Data Resource To Forecast Turbulence

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IATA Inaugurates Turbulence Aware Data Resource To Forecast Turbulence

The ability of airlines to forecast and avoid turbulence would now be greatly enhanced as the International Air Transport Association, IATA, has inaugurated a turbulence aware data resource.

IATA said the system would pool and share turbulence date generated by participating airlines. The global body for airlines said before now, airlines had to depend on reports and weather advisories from pilots to offset the impact of turbulence.

IATA says the result would be the first global, real-time, detailed and objective information for pilots and operation’ professionals to manage turbulence.

It is expected that airlines operating in Nigeria would participate and benefit from this new system.

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Nigerian News

Oil Price Stability Buoys Nigeria’s Budget Benchmark

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Oil Price Stability Buoys Nigeria's Budget Benchmark

Nigerian budget benchmark appears buoyed by oil price stability as a result of cuts in production levels to which OPEC members have agreed.

The benchmark of sixty dollars was eroded by sustained drops in price. The high for the year was eighty-six dollars which dropped to about fifty-eight dollars last week.

It rebounded to sixty-two dollars per barrel last week, just as the federal executive council was to hold an emergency meeting on how the price drops would affect the Nigerian budget.

Opec countries had agreed to reduce daily production by eight hundred thousand barrels, while non-OPEC members decided to reduce production by four hundred thousand barrels per day.

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Business News

CBN And MTN Plan To Settle $8b Rift Out Of Court

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CBN And MTN Plan To Settle $8b Rift Out Of Court

It seems as though the Central Bank of Nigeria and telco giant, MTN, are trying to find ways of resolving the $8 billion rift between them. One of MTN’s lawyers is quoted as saying they are making moves toward an out-of-court settlement.

Meanwhile, counsels for both parties have secured another adjournment until late January.

Another $2 billion case involving MTN and the Nigerian attorney general’s office was adjourned as well last week until early January.  This case is related to alleged back taxes owed by MTN.  The telco giant has denied it owed the taxes.

The $8 billion case was a result of a charge against MTN for allegedly violating Nigeria’s extant laws.  In August, Central Bank of Nigeria sanctioned MTN Nigeria for allegedly using irregular certificates of capital importation to transfer $8.1 billion to South Africa on behalf of its offshore investors.

MTN is being asked to return the $8.1 billion to Nigeria.

Mtn group’s Nigerian operations account for one-third of its entire African market share.

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