Business
Abia Govt Assures Tricycle Operators on Electric Bus Plans
Abia State Government assures tricycle operators that new electric buses will complement, not replace, their transport services across the state
The Abia State Government has assured members of the Abia State Tricycle Operators Union (ASTOPU) that the introduction of electric buses in the state will complement, not replace, their operations.
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The assurance was given by the Commissioner for Transport, Dr Chimezie Ukaegbu, on Tuesday at the Aba Town Hall during the 2025 ASTOPU reward and empowerment ceremony.
“The electric buses we are introducing in the state will not stop your operations or drive you away from the state; rather, they will complement your transport services,” he said.
Dr Ukaegbu urged tricycle operators to prioritise security and avoid alcohol while highlighting the government’s commitment to protecting their interests in collaboration with the office of the Senior Special Assistant to the Governor on Transportation.
Senior Special Assistant to the Governor on Transportation, Dr Obioma Nwaogbe, praised ASTOPU for its cooperation and revenue contributions, noting that the union stands to benefit further from government interventions beyond infrastructure development.
Representatives of the Aba Divisional Police and the Federal Road Safety Corps commended ASTOPU for collaboration with security agencies, which they said had improved road safety and reduced traffic accidents.
The event also honoured tricycle operators who returned items forgotten by passengers. ASTOPU Chairman, Comrade Victor Azubuike, disclosed that 164 operators returned lost items, demonstrating honesty and trust.
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Awards and bags of rice were presented to the beneficiaries, with some pledging continued support for the state government and the union.
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Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.
The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.
The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.
The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.
The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.
The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.
The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.
The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.
The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.
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