Vice President Kashim Shettima on Monday commissioned the Onyearugbulem–Shagari/Irese Road Flyover and Junction Improvement Project in Akure, describing the infrastructure as a strategic development expected to improve transportation, reduce accidents, and stimulate economic growth in Ondo State.

The project, located along the Ilesha–Akure–Owo Expressway, is the first flyover bridge to be constructed in Akure, the Ondo State capital.

Speaking during the commissioning ceremony, Shettima said the flyover would improve traffic circulation, enhance road safety, and support commercial and industrial expansion along one of the region’s busiest transport corridors.

He praised the Ondo State Government for investing in infrastructure that addresses long-standing transportation challenges affecting commuters and businesses.

Ondo State Governor Lucky Orimisan Aiyedatiwa said the project represented more than just a physical structure, describing it as a response to years of deadly congestion and economic disruption at the Irese junction.

“This development goes beyond physical infrastructure. It represents a deliberate effort to address long-standing traffic challenges, improve safety, and enhance economic productivity within the metropolis,” the governor said.

Why the flyover matters

For years, the intersection connecting the Onyearugbulem–Shagari axis with the Akure–Benin Expressway had been identified as a major accident hotspot and traffic bottleneck.

Residents and motorists frequently complained about long delays, gridlock, and road crashes, particularly during peak travel periods.

Governor Aiyedatiwa said the corridor serves as a major gateway into South-West Nigeria, making traffic efficiency critical for trade, movement of goods, and regional connectivity.

The governor added that the project was initially started under the administration of late former governor Rotimi Akeredolu and later sustained by his administration to ensure completion.

Transport and urban development analysts say flyover projects in growing state capitals can help reduce travel time, improve logistics, and attract new investments when combined with broader road infrastructure upgrades.

Flyover named after Pa Reuben Fasoranti at 100

During the event, Governor Aiyedatiwa announced that the flyover would be named after Reuben Famuyide Fasoranti, the leader of the pan-Yoruba socio-political group Afenifere, who turned 100 on Monday.

The governor described the naming as recognition of Fasoranti’s contributions to national development and Yoruba leadership.

The commissioning ceremony was attended by Dapo Abiodun, members of the Ondo State Executive Council, traditional rulers, and security chiefs.

Ondo government highlights wider infrastructure push

Governor Aiyedatiwa said his administration had intensified infrastructure development across the state over the past year.

According to him, ongoing and completed projects include the dualisation of the Akure–Idanre Road, Akungba–Ikare Road, Okitipupa–Igbokoda Road, and College Road in Igbokoda.

He also said more than 100 kilometres of roads had undergone rehabilitation and asphalt overlay across Ondo State’s three senatorial districts.

Among the roads mentioned were Akure–Ijare Road, Akure–Imafon Road, Aiyegunle–Oka Road, and Igbotako Road.

“Quality infrastructure remains the backbone of economic growth, investment attraction, and improved quality of life,” Aiyedatiwa said.

The governor commended engineers, contractors, and indigenous professionals involved in the project, saying the flyover demonstrated local technical capacity.

Public and economic impact

Road users and businesses along the Akure corridor are expected to benefit from shorter travel times and reduced congestion.

Commercial transport operators have also expressed hope that improved traffic flow would lower fuel consumption and reduce delays in moving passengers and goods.

Infrastructure experts say sustained investment in urban transport systems could become increasingly important as Nigerian cities continue to expand rapidly.

What happens next?

The Ondo State Government says attention will now shift toward completing other ongoing road and urban renewal projects across the state.

Analysts say maintaining the new infrastructure and improving traffic management around adjoining roads will be critical to ensuring the flyover delivers long-term benefits.

Union Bank of Nigeria has won the Best SME Growth Banking Initiatives Award (2025) at the Nigeria National SME Business Awards, organised by the Association of Small Business Owners of Nigeria (ASBON) in partnership with the Lagos State Government.

The recognition highlights a growing shift in Nigeria’s banking sector, where small and medium-sized enterprises (SMEs) are prioritising speed, reliability and practical support over traditional banking scale.

Unlike previous awards that focused on product range, ASBON said its criteria centred on a key question: which banks are actually making it easier for entrepreneurs to operate?

Why it matters

SMEs are the backbone of Nigeria’s economy, accounting for the majority of jobs and a significant share of economic activity.

But many business owners now define success less by expansion and more by stability — steady cashflow, reliable payments and timely access to financing.

For many entrepreneurs, delays in account setup, payment failures or slow loan approvals can mean missed opportunities or stalled operations.

Union Bank’s recognition comes as financial institutions face increasing pressure to respond to these day-to-day realities.

Faster onboarding and digital tools

One of the biggest barriers for SMEs has been slow account opening and onboarding processes.

Union Bank said it addressed this through upgrades to its Union360 platform and the rollout of a Straight-Through-Processing (STP) Digital Onboarding Platform.

The goal was to reduce the time between account opening and active transactions.

The bank said the improvements have shortened onboarding timelines, increased digital usage among SME customers and attracted new business clients.

Industry analysts say such changes are critical in a market where businesses often rely on multiple payment channels including transfers, POS systems and mobile money within a single day.

Financing beyond traditional collateral

Access to credit remains one of the biggest challenges for Nigerian SMEs, particularly for businesses without formal collateral or audited financial records.

Union Bank said it has adjusted its lending approach by placing more emphasis on transaction history, account activity and cashflow patterns.

This allows businesses with limited paperwork but active operations to qualify for financing.

Loans during the review period were largely directed toward working capital, inventory and operational expansion.

The human connection

Despite increased digitisation, experts say personal relationships still play a critical role in SME banking.

Union Bank said its SME strategy includes relationship managers, sales agents and branch networks across Nigeria.

Its “Adopt, Engage and Grow” campaign was designed to maintain continuous engagement with entrepreneurs rather than one-off interactions.

Partnership with ASBON

Union Bank’s recognition is also linked to its collaboration with ASBON through the SME Empowerment Challenge.

The initiative encouraged entrepreneurs to open or reactivate business accounts, maintain proper transaction records and develop structured growth plans.

Experts say this kind of discipline, separating personal and business finances and keeping clear records is essential for accessing loans, grants and contracts.

Industry reactions

Stakeholders say the award reflects a broader transformation in Nigeria’s financial sector.

Government-backed SME programmes have also increasingly emphasised financial inclusion and access to credit as key drivers of economic growth.

What’s next

As Nigeria’s economic environment remains challenging, SMEs are expected to demand even more responsive banking services.

Analysts say banks that invest in faster systems, flexible credit models and real customer engagement will be better positioned to capture the growing SME market.

Union Bank’s award, they add, may signal a competitive shift across the industry rather than a final destination.

Polaris Bank has supported the launch of a new export support call centre by the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), in a move aimed at helping Nigerian exporters particularly in the non-oil sector expand into global markets.

The initiative is designed to provide real-time guidance, regulatory support and technical assistance to businesses navigating international trade.

Why It Matters

Nigeria has long sought to diversify its economy away from oil, with non-oil exports seen as a key driver of sustainable growth.

However, many small and medium-sized enterprises (SMEs) face challenges such as limited access to trade information, financing gaps and complex export documentation.

The NACCIMA Export Support Call Centre is expected to address some of these barriers by offering a centralised platform for exporters to access critical support.

What Polaris Bank Is Saying

Speaking at the launch, Polaris Bank Executive Director, Chris Ofikulu, described the initiative as a “pivotal moment” for Nigerian businesses.

“Today, we are marking a pivotal moment in our mission to empower Nigerian businesses for global markets,” he said.

“Through this collaboration, we are equipping exporters with the tools, infrastructure, and expertise needed to thrive in global markets.”

He added that the call centre would serve as more than just a help desk.

“This center is not just a call center; it is a catalyst for success, providing exporters with the resources, knowledge, and access they need to excel.”

What the Call Centre Offers

The facility will provide exporters with:

Real-time trade information

Regulatory and documentation guidance

Technical and advisory support

Market access insights

Polaris Bank has also provided infrastructure to power the centre, including laptops, internet-enabled devices, workstations and high-capacity printers.

Industry Perspective

Trade experts say initiatives like this could improve Nigeria’s export competitiveness if properly implemented.

Broader Economic Context

The partnership aligns with ongoing efforts to boost intra-African trade under the African Continental Free Trade Area (AfCFTA).

Polaris Bank said its digital platform, VULTe, already supports cross-border payments through the Pan-African Payment and Settlement System (PAPSS), helping businesses trade more efficiently across the continent.

The bank also provides financing options such as working capital support and stock refinancing, alongside advisory services for export documentation like the Nigerian Export Proceeds (NXP) form.

What’s Next

Stakeholders say the success of the call centre will depend on awareness, accessibility and sustained funding.

If widely adopted, it could help more Nigerian businesses scale internationally and contribute to foreign exchange earnings.

Polaris Bank says it plans to continue investing in initiatives that support SMEs and strengthen Nigeria’s export ecosystem.