Donmarrius:
RareDiamond,may God bless you billion times.

Thank you !!!

Pictures of Orlu, Imo State.

The 1st picture is of the Orlu Shopping plaza under construction in Orlu.

More of Orlu, Imo State. You need to know how Orlu looks like 4 years ago before you can fully appreciate the changes Orlu have under gone. All Igbo cities, towns and Villages are witnessing improvements courtesy of government, private individuals and Organisations. Ala Igbo Adila mma !!!

Nwanne! Orluzurumee.

Aba Mega Mall Nearing Completion

03 Nov 2014

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By NumeEkhegbe

The Aba Mega Mall, a retail development embarked upon by the Abia State Government, in conjunction with Greenfield Assets Limited, is said to be nearing completion.

Managing Director, Aba Mega Mall Limited, Ugo Umeseaka, who spoke with THISDAY explained that the first phase of the development is nearing completion. “We are almost at the commissioning stage,” he said.

[b]When completed, the mega mall which seats on top 28 hectares of land would have provisions for banks, cinema, and automated warehouse with bonded terminal, 10 megawatt 24 hours power supply, fire station, free e-commerce weblink for all businesses to enable online transactions to be executed between the businesses and their customers.

According to Umeseaka, two distinctive features stand the Aba Mega Mall out from other malls in Africa, saying with a 100,000 square meters leasable space, the mall is the biggest in Africa.

He explained that the concept of an e-commerce weblink for all the businesses, would enable buyers to transact business with the owners from anywhere around Nigeria and beyond.

He said, “We are proud of the e-commerce concept. As an online service, this is an idea that originates from a brick and mortar mall. It is a hybrid of the brick and mortar and online mall for people who, because of one reason or the other, cannot make purchases by visiting the mall.

“To make the process seamless, we are making arrangements so that shoppers within and outside Aba can have the privilege of transacting with all the businesses and having their purchases delivered to their doorsteps through courier companies such as UPS and EFEX.”
[/b]
The mega mall said to be effort by the Governor Theodore Orji administration to utilise the entrepreneurial spirit of the average Aba resident to its advantage by encouraging development of world class mall as decent alternatives to what presently obtains.

http://www.thisdaylive.com/articles/aba-mega-mall-nearing-completion/193037/

Diamond Bank Invests $465m In Aba Power Project

Saturday, 30 August 2014 16:25
Written by Gordi Udeajah, Umuahia

GEOMETRIC Power Ltd, a company chaired by former Minister of Power, Prof. Barth Nnaji, will soon commission its power plant in Osisioma Aba industrial area in Aba, Abia State.

Diamond Bank Plc is said to have invested $465 million in the project with a view to providing steady 24-hour power supply to Aba the major industrial hub of the southeast.

Managing Directorship of Diamond Bank, Dr Alex Otti, recently confirmed Diamond Bank’s interest in the project when he visited the state People Democratic Party (PDP) to consult with the executives on his intention to contest the 2015 Abia governorship election.

A group known as Abia First 2015 Project commended Geometric Power and Otti for the initiative.

The group who spoke through its Director of Media/Publicity said the project would reactivate moribund industries while boosting the artisan businesses in the town.

http://www.ngrguardiannews.com/business/177065-diamond-bank-invests-465m-in-aba-power-project

Shoprite Lands in Owerri as Govt Promises to Support Private Developers

16 May 2014

Amby Uneze
The South African conglomerate, Shoprite, has concluded plans to open its second shop in the South-east, this time in Owerri, capital of Imo State as the ground breaking ceremony of the “Owerri Mall-Shoprite” took place yesterday at the former proposed site of Owerri Shopping Complex, otherwise called Somachi Complex.


The ground breaking ceremony which was done by the State Governor, Chief Rochas Okorocha, represented by the Chief of Staff, Government House, Sir Jude Ejiogu, described the coming of Shoprite to Owerri as symbolic since it was happening in his administration, even as he promised to support the establishment as well as all other progressive investments in the state.

He assured that government will not relent until Imo state is well positioned like other states in the country, adding that his administration is geared towards generating employment for the people of the state, hence its support for the company that would give employment to the people of the state.

Okorocha challenged the company to keep fate with the construction programme by making sure that the project is completed within the 18 months duration, while stating that the security of lives and property of those coming in would be guaranteed.

In an address at the ceremony, the Chairman of the Owerri Mall Development Company, Chief Herbert Chikwe, noted that the idea of building a world-class shop in the city was conceived 30 years ago when the company awarded the contract to build the Owerri Modern Market in the place.

He said “the Shoprite, foreign investors from South Africa came to partner with us to establish a more contemporary shopping mall, this is a turning point in the history of our state in its efforts to build a new economy that will meet international standards.”

He assured the partners that the their investment in the state would be profitable and beneficial to both stakeholders as Owerri happened to be the city of commerce as well as the heartland of the South-east and South-south people.

http://www.thisdaylive.com/articles/shoprite-lands-in-owerri-as-govt-promises-to-support-private-developers/178635/

6 states to benefit from BOI, Agric Ministry’s N13.6bn rice, cassava mills

on November 03, 2014 / in Business 12:53 am / Comments
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By Favour Nnabugwu & Raphael Izokpu

Sixteen states are to benefit from the N13.6billion pact entered into by the Bank of Industry, BOI and the Federal Ministry of Agriculture and Rural Development as intervention funds for rice and cassava milling in the country.

The duo signed a Memorandum of Understanding, MoU, for N13.6 bn loan solely targetted at the private sector at a maximum of 10 years with a 3-year cessation at 5 per cent interest flat rate per annum to 16 benefiting states.

Ten out of the 16 states – Benue, Kebbi, Zamfara, Kaduna, Kano, Kogi, Bayelsa, Bauchi, Ogun and Anambra, are for rice mills while the remaining seven states – Ondo, Ogun, Abia, Delta, Cross River and Nasarawa are for cassava mills.

The Managing Director of BOI, Mr Rasheed Olaoluwa at the signing of the MOU in Abuja on Thursday, explained that the objective of the Federal Government’s Agricultural Transformation Agenda is not only to increase crop production, but also to create value-added food processing industries as a means of reducing food imports.

“And the whole idea of the fund is to enable this administration to advance the already successful agric transformation agenda and to take it to an advanced stage, by setting up 10 medium sized rice mills and 6 high quality cassava mills across the country.

“Over the last three years, a lot of activities have been undertaken to improve and encourage the local production of the items in Nigeria as we are now in the critical stage where there is a need for effective processing of the agricultural produce,” he said.

Speaking further, the BoI boss stated that the MoU will address the modalities of ensuring that the 16 states which the funds are meant for, materialised in few months time, adding that, “it is therefore hoped that by the time the 10 rice and 6 cassavas mills companies are fully operational, evidently, the amount of rice and cassava importation in Nigeria would be significantly reduced, if not totally eliminated.”

Responding, the Minister of Agriculture and Rural development, Dr Akinwumi Adeshina, said the federal government has resolved to bridge the milling gap in the country

Adeshina said the ministry had been able to reach out to “Within three years 6million farmers who cultivated two million hectares and have produced seven million metric tons of rice. He affirmed that the N13.6billion will integrate rice mills with a 36,000 metric tons capacity each from the 10 mills in those States and 72,000 metric tons capacity each from the cassava mills in the six States.

http://www.vanguardngr.com/2014/11/6-states-benefit-boi-agric-ministrys-n13-6bn-rice-cassava-mills/

RareDiamonds:

6 states to benefit from BOI, Agric Ministry’s N13.6bn rice, cassava mills

on November 03, 2014 / in Business 12:53 am / Comments
Tweet

By Favour Nnabugwu & Raphael Izokpu

Sixteen states are to benefit from the N13.6billion pact entered into by the Bank of Industry, BOI and the Federal Ministry of Agriculture and Rural Development as intervention funds for rice and cassava milling in the country.

The duo signed a Memorandum of Understanding, MoU, for N13.6 bn loan solely targetted at the private sector at a maximum of 10 years with a 3-year cessation at 5 per cent interest flat rate per annum to 16 benefiting states.

Ten out of the 16 states – Benue, Kebbi, Zamfara, Kaduna, Kano, Kogi, Bayelsa, Bauchi, Ogun and Anambra, are for rice mills while the remaining seven states – Ondo, Ogun, Abia, Delta, Cross River and Nasarawa are for cassava mills.

The Managing Director of BOI, Mr Rasheed Olaoluwa at the signing of the MOU in Abuja on Thursday, explained that the objective of the Federal Government’s Agricultural Transformation Agenda is not only to increase crop production, but also to create value-added food processing industries as a means of reducing food imports.

“And the whole idea of the fund is to enable this administration to advance the already successful agric transformation agenda and to take it to an advanced stage, by setting up 10 medium sized rice mills and 6 high quality cassava mills across the country.

“Over the last three years, a lot of activities have been undertaken to improve and encourage the local production of the items in Nigeria as we are now in the critical stage where there is a need for effective processing of the agricultural produce,” he said.

Speaking further, the BoI boss stated that the MoU will address the modalities of ensuring that the 16 states which the funds are meant for, materialised in few months time, adding that, “it is therefore hoped that by the time the 10 rice and 6 cassavas mills companies are fully operational, evidently, the amount of rice and cassava importation in Nigeria would be significantly reduced, if not totally eliminated.”

Responding, the Minister of Agriculture and Rural development, Dr Akinwumi Adeshina, said the federal government has resolved to bridge the milling gap in the country

Adeshina said the ministry had been able to reach out to “Within three years 6million farmers who cultivated two million hectares and have produced seven million metric tons of rice. He affirmed that the N13.6billion will integrate rice mills with a 36,000 metric tons capacity each from the 10 mills in those States and 72,000 metric tons capacity each from the cassava mills in the six States.

http://www.vanguardngr.com/2014/11/6-states-benefit-boi-agric-ministrys-n13-6bn-rice-cassava-mills/

This is good news because we need to be sufficient in Agriculture. We need to be able to produce what we eat. We in the south-east need to develop our Agricultural potentials.

Obiano repositions Anambra as investment hub, attracts $520m in one week
1
By Our Reporter on November 10, 2014 COVER

By JAMES EZE

The efforts of Gover­nor Willie Obiano to reposition Anambra State as the new in­vestment hub in West Africa are beginning to yield amaz­ing results as the state at­tracted $520 million invest­ment last week.

The investments came largely into the two key areas that make up the governor’s Four Pillars of Development, namely Agricul­ture, Trade and Commerce. The other two Pillars are Industrial­ization and Oil and Gas.

What is currently looking like Anambra’s day in the invest­ment began at midweek with a tripartite agreement which the state government signed with the management of Delfarm Limited and Songhai Regional Centre from Benin Republic for specific agricultural projects val­ued at $200 million (about N32 billion). This was followed up at the weekend with another agree­ment with a consortium known as the West Africa Interconti­nental Trade Centre Ltd., which signed for the construction of an International Modern Market to be located in Ogbunike, Oyi Local Government Area at an estimated value of $320 million for the first phase of the project.

These two agreements have moved the government very close to its projected investment inflow of $1.9 billion before the end of this year. So far, Anam­bra has attracted almost $1 bil­lion in investments in the last six months averaging $167 million investment per month. These investments justify, in concrete terms, Governor Willie Obia­no’s reputation as an entrepre­neurial banker and a technocrat of note who understands the ter­rain of high-wired business and the best steps to bring the invest­ment world to his doorsteps.

In real terms, the Delfarm Limited/Songhai Farms project is expected to generate 150,000 jobs and cut down the rate of unemployment in Anambra and the neighbouring states. The agricultural project is a fully integrated framework that combines agriculture, technol­ogy, industry and services with a sustainable working system and seeks to create training and empowerment centres for the youths. On the other hand, the proposed International Market in Ogbunike is designed to ac­commodate an ultra-modern shopping mall, an industrial park, education and medical fa­cilities as well as a modern en­tertainment centre. The project will be executed in phases with the first phase creating about 6,000 jobs and 12,000 indirect jobs.

Anambra’s rising profile as the haven for investments in sub-Saharan Africa actually began in May this year when the Coscharis Group made a massive entry into the state’s agricultural sector with $200 million investment in a farm settlement, (the Coched Farms Project) in Anakau, Ayamelum Local Government Area. Since then, Anambra has continued to attract investors as the Obiano administration digs in to force through its reform programmes that are intended to lift the state up to its rightful position as the home of entrepreneurship in sub-Saharan Africa.

Since the arrival of Coched Farms, other agro-investors have followed suit. Joseph Agro Limited, Ekcel Farms Limited had penned down a $150 million agreement to take over the lucrative Omor Rice Mill and farm settlement, while Ekcel Farms had signed $100 million for the produc­tion of cassava and tomato in the state. Grains and Silos Limited has also signed another MoU valued at $11 million for a Silos project and finally, Del­farm/Songhai Farms have also moved in. Other investors like Royal Farms and a host of oth­ers are all in line to move into Anambra. There are also talks about a high-level collabora­tion between the Anambra State Government and some agricul­tural authorities in Bangkok, Thailand, that will finally divvy up Governor Obiano’s prom­ised agricultural revolution in Anambra State. The state has also attracted investments in the area of tourism with Cardinal Developers and Trust Limited leading the charge in that sec­tor with a considerable financial outlay.

Right at the heart of the in­vestment revolution in Anam­bra State is the pivotal role of the Anambra State Investment Promotion and Protection Agency (ANSIPPA), which is staffed with seasoned invest­ment bankers and financial experts. This agency has made the process of documentation and other otherwise tedious processes of doing business in Anambra State look like a walk in the park. This has encouraged prospective investors who are familiar with the huge markets and great human capital that Anambra has in abundance.

It would be recalled that flagging off this year’s farming season in a ceremony at Nteje, Oyi Local Government Area in May this year, Governor Obi­ano had firmly set the agenda for his agricultural revolution. Underscoring the importance of agriculture to Ndigbo in his speech at the event, Obiano had recalled: “From time imme­morial, our ancestors judged a man by the strength of his arm. A man who could not feed his family was regarded as an eful­efu! A failure! That tells us how important farming and agricul­ture in general was and will al­ways be to our people.”

http://sunnewsonline.com/new/?p=90139

RareDiamonds:
Obiano repositions Anambra as investment hub, attracts $520m in one week
1
By Our Reporter on November 10, 2014 COVER

By JAMES EZE

The efforts of Gover­nor Willie Obiano to reposition Anambra State as the new in­vestment hub in West Africa are beginning to yield amaz­ing results as the state at­tracted $520 million invest­ment last week.

The investments came largely into the two key areas that make up the governor’s Four Pillars of Development, namely Agricul­ture, Trade and Commerce. The other two Pillars are Industrial­ization and Oil and Gas.

What is currently looking like Anambra’s day in the invest­ment began at midweek with a tripartite agreement which the state government signed with the management of Delfarm Limited and Songhai Regional Centre from Benin Republic for specific agricultural projects val­ued at $200 million (about N32 billion). This was followed up at the weekend with another agree­ment with a consortium known as the West Africa Interconti­nental Trade Centre Ltd., which signed for the construction of an International Modern Market to be located in Ogbunike, Oyi Local Government Area at an estimated value of $320 million for the first phase of the project.

These two agreements have moved the government very close to its projected investment inflow of $1.9 billion before the end of this year. So far, Anam­bra has attracted almost $1 bil­lion in investments in the last six months averaging $167 million investment per month. These investments justify, in concrete terms, Governor Willie Obia­no’s reputation as an entrepre­neurial banker and a technocrat of note who understands the ter­rain of high-wired business and the best steps to bring the invest­ment world to his doorsteps.

In real terms, the Delfarm Limited/Songhai Farms project is expected to generate 150,000 jobs and cut down the rate of unemployment in Anambra and the neighbouring states. The agricultural project is a fully integrated framework that combines agriculture, technol­ogy, industry and services with a sustainable working system and seeks to create training and empowerment centres for the youths. On the other hand, the proposed International Market in Ogbunike is designed to ac­commodate an ultra-modern shopping mall, an industrial park, education and medical fa­cilities as well as a modern en­tertainment centre. The project will be executed in phases with the first phase creating about 6,000 jobs and 12,000 indirect jobs.

Anambra’s rising profile as the haven for investments in sub-Saharan Africa actually began in May this year when the Coscharis Group made a massive entry into the state’s agricultural sector with $200 million investment in a farm settlement, (the Coched Farms Project) in Anakau, Ayamelum Local Government Area. Since then, Anambra has continued to attract investors as the Obiano administration digs in to force through its reform programmes that are intended to lift the state up to its rightful position as the home of entrepreneurship in sub-Saharan Africa.

Since the arrival of Coched Farms, other agro-investors have followed suit. Joseph Agro Limited, Ekcel Farms Limited had penned down a $150 million agreement to take over the lucrative Omor Rice Mill and farm settlement, while Ekcel Farms had signed $100 million for the produc­tion of cassava and tomato in the state. Grains and Silos Limited has also signed another MoU valued at $11 million for a Silos project and finally, Del­farm/Songhai Farms have also moved in. Other investors like Royal Farms and a host of oth­ers are all in line to move into Anambra. There are also talks about a high-level collabora­tion between the Anambra State Government and some agricul­tural authorities in Bangkok, Thailand, that will finally divvy up Governor Obiano’s prom­ised agricultural revolution in Anambra State. The state has also attracted investments in the area of tourism with Cardinal Developers and Trust Limited leading the charge in that sec­tor with a considerable financial outlay.

Right at the heart of the in­vestment revolution in Anam­bra State is the pivotal role of the Anambra State Investment Promotion and Protection Agency (ANSIPPA), which is staffed with seasoned invest­ment bankers and financial experts. This agency has made the process of documentation and other otherwise tedious processes of doing business in Anambra State look like a walk in the park. This has encouraged prospective investors who are familiar with the huge markets and great human capital that Anambra has in abundance.

It would be recalled that flagging off this year’s farming season in a ceremony at Nteje, Oyi Local Government Area in May this year, Governor Obi­ano had firmly set the agenda for his agricultural revolution. Underscoring the importance of agriculture to Ndigbo in his speech at the event, Obiano had recalled: “From time imme­morial, our ancestors judged a man by the strength of his arm. A man who could not feed his family was regarded as an eful­efu! A failure! That tells us how important farming and agricul­ture in general was and will al­ways be to our people.”

http://sunnewsonline.com/new/?p=90139

nice one

Turkish Airlines To Commence Flights To Abuja, Enugu In March 2015

Agency Report
— Nov 7, 2014 | Leave a comment

The government of Turkey said on Friday that Turkish Airlines would commence scheduled flights into the Nnamdi Azikiwe International Airport, Abuja and the Akanu Ibiam International Airport, Enugu in March 2015.

The Turkish ambassador to Nigeria, Mr Mustafa Pulat, made the announcement in Abuja when he paid a courtesy call on the Minister of Foreign Affairs, Mr Aminu Wali.

Pulat said that direct Turkish airlines flights into more cities in Africa were part of a renewed commitment to strengthening Turkey-Africa strategic partnership.

He used the occasion to invite Nigeria to participate in the second meeting of the Turkey-Africa Cooperation Summit, scheduled to hold in Malabo from Nov. 19 to Nov. 21.

“Our president, foreign minister and minister for the economy are going to Malabo and we are doing this with the AU, which has promised to invite African countries, including Nigeria.’’

He said that Turkey was willing to contribute its quota to Africa’s development through strategic partnership.

According to statistics from the Turkish Ministry of Foreign Affairs, trade volume between Turkey and Africa has increased more than tenfold in 13 years.

The statistics indicated that trade reached $7.5 billion in 2013, up from $742 million in 2000.

The envoy also extended his country’s invitation to Nigeria to participate in the upcoming meeting of the Committee of Social and Economic Cooperation in Istanbul later in November.

The committee is a subsidiary of the Organisation of Islamic Cooperation.

The ambassador also solicited Nigeria’s support for Turkey’s hosting of the 10th conference of the World Trade Organisation, scheduled to hold in 2015.

He expressed delight at the cordial economic and trade relations between both countries.

Pulat, however, called for the conclusion of negotiations and signing of the Promotion and Protection of Investments Agreement between both countries to boost trade ties.

The envoy said the agreement on double taxation was still pending and acknowledged that his mission had received a new draft from the Nigerian side.

He told Wali that Istanbul was currently considering the draft of the agreement.

According to him, several Turkish companies are willing to invest in the energy, aviation and housing sectors in Nigeria.

Pulat commended Nigeria for containing the spread of Ebola but expressed surprise that his country was mentioned as one of the countries that were discriminating against travellers from Nigeria.

He said there were few isolated cases when travellers from Nigeria were subjected to medical examination over concerns for symptoms of the Ebola virus disease.

Wali thanked the Turkish Government for extending its national carrier to Kano, his home town and for opening more routes in Nigeria.

He pledged that the ministry would continue to encourage the signing of more Bilateral Air Services Agreement as a springboard to encouraging more direct investment into Nigeria.

The minister acknowledged that Turkish investments in Nigeria were visible in the tourism, power, education and health sectors, among others.

He pledged Nigeria’s support to Turkey’s hosting of the WTO conference and assured the ambassador of Nigeria’s participation in the event.

Wali also welcomed Turkey’s offer of defence and military cooperation with Nigeria in the fight against terror and insurgency.

http://leadership.ng/news/389644/turkish-airlines-commence-flights-abuja-enugu-march

ABC Transport To Establish Truck Assembly Plant In Nigeria
— September 3, 2014

Damian Duruiheoma, Owerri

Management of the Associated Bus Company, ABC, Transport PLC says it has concluded plans to open a truck assembling plant in Nigeria. It says the plant would commence work in October 2014.

Managing Director/CEO of ABC Transport, Mr Frank Nneji dropped the cheering hint while speaking at the 21st Annual General Meeting, AGM, of the transport firm held in Owerri, the Imo State capital.

He said the arrangement to set up the plant was being carried out by Transit Support Services,TSS, a subsidiary of the ABC Transport in partnership with a Chinese company, Sharkman Trucks and would be located at Enugu.

Nneji disclosed that the subsidiary company holds the franchise of Sharkman Trucks in Nigeria under the new government’s national automotive policy which he said had provided good incentives for local manufacturers of vehicles.

He explained that TSS had agreement with the Chinese company to come and commence assembling of Sharkman trucks in Enugu.

According to him, the company would initially lease facilities in Enugu for the take-off of the assembling of the trucks before going ahead to acquire its own

plant.

He stated that feasibility studies for establishing the plant in Enugu in the next two years was ongoing while proper assembling of the Sharkman Trucks at the leased facility would commence in six weeks time.

Speaking on the Ebola scare in the country, Nneji hinted that it has caused a drop in the volume of passengers as many people are scared to travel to states and countries in the West Coast where Ebola disease is reportedly discovered.

He said that ABC Transport as an outfit had adopted some measures to ensure that passengers were protected on transit and advised Nigerians to shed the Ebola phobia, which he said was almost wrecking the entire system.

Earlier, the chairman of Board of Directors of the company, Prince Olumide Obayomi, in his 2013 annual report and accounts revealed that the robust growth witnessed in the last few years in Sub-Saharan Africa in 2013 with recorded GDP 4.7 per cent from 3.5 per cent in 2012.

The AGM resolved that the authorized share capital of the company be increased from N800million to N1billion by the creation of N400milion ordinary shares of 50kobo each with such new shares, in all respects ranking in relation with the existing ordinary shares in the capital of the company.

The chairman assured that the company would continue to avail itself of suitable technology in its service delivery while continuous innovation would remain the service watchdog of the company. Obayomi said the establishment is also committed to ensuring that it regularly assesses its service delivery platforms to ensure that they are at par with the best global standard in surpassing customers’ expectations.

He said that the Board of Directors was confident that the company’s fortune would improve in the coming years to be able to attain predictable long term stability and build the capacity to ride above the tidal waves of continually value destroying unfriendly operating environment.

http://theunion.com.ng/abc-transport-to-establish-truck-assembly-plant-in-nigeria/

How to Develop the Culture of Technology and Innovation to Drive Economic Growth in South Eastern Nigeria
November 4, 2014 - No Comments - News and Articles



It is worthy to note that the tri-angle of innovation around the world is held together by the cooperative endeavor of the Government, the Academic Community, and the Industries. A deficiency or disconnect in any of these key drivers of innovation will definitely bring an imbalance in the innovation ecosystem. This makes the role of the academic community in driving innovation very critical

The world is waiting for innovations from South Eastern Nigeria,Considering the ingenuity of the people from this region,it is time to pay great attention to ways of driving innovation.The South East region of Nigeria has the potential to lead in this following her huge human and material resources.One key sector that has huge potentials for growth and competitiveness is the Education sector-the application and use of technology in Education, but these potentials remain untapped.

Following the enormous challenges facing our universities and other higher education, such as poor funding of the Universities by government, brain drain, Infrastructural deficiency,skill and knowledge gap, poor ethical standards and different levels of malpractices.We all have come to agree that these problems have hindered technology innovation out of our universities for several years.

Despite these daunting challenges there are growing opportunities inherent in the academic community which need to be properly harnessed to ensure the future and survivability of our region. This calls for urgent need to begin to think of solutions to these problems and finding out the way forward with focus on innovation.

Several approaches and projects have been undertaken by the government to foster innovation, some of them have not yielded any good result and has no justification or bases for their institution. It is time for a new method, it is time to critically look at what other nations like Israel and the US are doing in the area of technology and Innovation.

It is worthy to note that the tri-angle of innovation around the world is held together by the cooperative endeavor of the Government, the Academic Community, and the Technology Industry. A deficiency or disconnect in any of these key drivers of innovation will definitely bring an imbalance in the innovation ecosystem. This makes the role of the academic community in driving innovation very critical.The importance of the collaboration of the academy, the industry and government is crucial for creating a fostering entrepreneurial eco-system. The industry funding experience and networking; the academy human resources and R& capabilities; and the government policy – all combined together creates an effective way of promoting and developing business, education and technology for a successful entrepreneurial eco-system. This type of collaboration is non-existent in the region and that is a major problem hindering innovation here as many nations are maximizing their ivory towers by creating superb technology institutes and centres focused at grooming a generation of innovators for the future.

While many universities around the world are at the centre of innovations, leading the formation of thriving tech ecosystems, our universities are yet to realize how important their role is in driving innovation. It gives me great concern seeing how innovation ecosystems are driven by the intellectual prowess of the academics and the academia.For example,the contribution of Technion-Israel Institute of technology to the technological development of Israel and the world clearly shows how relevant the academic community is in leading innovation in a nation. The story of Israel’s transformation as a Technology giant cannot be complete without mentioning the contributions of the Technion-Israel Institute of Technology which has graduated over 67,000 tech entrepreneurs and professionals that are adding great value to the Start-up Nation and the world at large.

As documented in the book Technion Nation, the story of how Technion Graduates are contributing to the development of Israel’s economy, the over 67,000 graduates, holding over 90,000 degrees, indeed became the foundation for Israel’s start-ups, basic research, applied technology, high-tech industry, global management expertise, export sector and economic growth. Specifically, the Technion’s aeronautical engineering department has spurred key breakthroughs for Israel’s defense. Its electrical engineering andComputer science departments have provided the talented graduates who drive Israel’s electronics and software industry, which generates $20billion of Israel’s $40 billion in annual exports. Its architecture and Civil Engineering departments built Israel’s roads and infrastructure. And three of Technion’s talented faculty have won Nobel Prizes in the past eight years. This is just the contribution of one university!.

Harvard University, MIT, Stanford, Geogiatech are a few of the higher education communities that have conquered their environment and are extending their tentacles to other countries and helping them develop innovation around research and development of innovative products and services.

One of the ideas that will help to drive Technology and Innovation is to set up Technology Innovation Institutes and Centres in the Universities focused at driving Innovation and inventions. And then collaborating with some of the successful institutions mentioned above.

A Technology Entrepreneurship Centre in the our universities with the support of the Government, the Technology Industry and the University community will help form a great synergy that will ensure the development of entrepreneurship and impact on the overall economy.

Such centres will serve as an incubation platform for young entrepreneurs who are undergraduates, graduates, researchers and the academic community. The center in its first year of establishment will support the building of at least 100 technology- focused businesses out of the university.. These businesses will focus on using science, Technology and Innovation to solve real problems in our society.

The tech centres will provide business support services and the technology needed, to undergraduates, graduates, researchers and the entire academic community. This support will help them launch, nurture and grow their own businesses thereby reducing the high unemployment rate.

The centres will also help in the commercialization of ideas, inventions, and projects from the academic community – To tap into the potentials of renowned and distinguished professors and other academics to build world class businesses. This will be a catalyst that will drive innovation from the academcis.

It will however provide a platform that will foster collaboration in research and development between Israel, the US and South East Nigeria.

More also,through an exchange program, Entrepreneurs from the center will have opportunity to visit Israel, Silicon Valley and also learn from the culture of entrepreneurship in those countries.

The Technology Innovation centres will be a channel to introduce our young tech entrepreneurs and their businesses to the international market and expose them to Venture Capitalists, Partners etc. that will scale their businesses.

All of these and many more benefits will be achieved if we begin to look at Technology and Innovation in the region and the role the Universities can play.

Brewers Bottling Big Profits in Onitsha
November 4, 2014 - No Comments - News and Articles

Onitsha in Anambra State is home the site of an expansion by SABMiller the international beer brewing giant. SABMiller’s consolidated Africa business was its most rapidly growing region in the six months ended September, 2014.

Nigeria was SABMiller’s to performer with sales jumping 41% in the six months. The Onitsha brewery is one of three breweries owned by the company in Nigeria and they are spending $110m to more than triple its brewing capacity.

While the expansion was not yet complete, the brewery had contributed significantly to the sales growth thanks to capacity increases and the success of SABMiller’s new Hero brand, which is produced at the Onitsha facility, a spokesman said.

SABMiller’s Nigerian subsidiary, Intafact Beverages, is overseeing the expansion of the Onitsha brewery.

The business employed 300 local people before the expansion. It will add an additional 400 direct jobs when construction is completed.

Ji si ike Otu nnem! I commend the initiative of ABC transport to site a Truck facility in Enugu. Kudos to Mr Nneji.

Chiwude:
Ji si ike Otu nnem! I commend the initiative of ABC transport to site a Truck facility in Enugu. Kudos to Mr Nneji.

This is the kind of patriotism Ala Igbo needs. I read somewhere that Peace Mass Transit is about to set up a vehicle assembly plant also in Enugu.

BoI endorses PRODA as cottage fund equipment supplier
November 10, 2014 | Filed under: Real Sector | Author: Editor
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The Bank of Industry (BoI) has endorsed the Projects Development Institute (PRODA) Enugu as one of the technology centres to fabricate and provide equipment to beneficiaries of its N5billion Cottage Agro Processing (CAP) Fund.

CAP Fund was recently launched to provide loans to beneficiaries who wish to establish small scale plants or mini mills to process Nigeria’s agricultural products.

“PRODA is also going to be one of the equipment suppliers to ensure that people who want to process Nigeria’s vast agricultural produce can come, adopt technologies here and ensure that products are processed to final food products or inter-mediate raw materials for industries,” said Rasheed Olaoluwa, managing director, BoI, during a visit to the institute in Enugu, recently.

Olaoluwa, who was conducted round the facilities of the institute by Charles Agulanna, acting director-general of PRODA, said he discovered that PRODA, like FIIRO, had developed a number of technologies over the years, adding that the bank had gone to the workshop, examined some of those technologies and discovered that people were coming to PRODA to take those technologies to set-up businesses in many parts of Nigeria.

He noted, in addition to the agro-processing equipment production, PRODA also had other technologies such as equipment for

producing pencils, which if actually commercialised, would make Nigeria the only country in Africa that produced pencils.

“Nigeria in the past had invested significantly in a lot of research institutes that have done a lot of work and we need to ensure that those works are commercialised and leveraged by the private sector to ensure that we fast-track Nigeria’s industrialisation. And some of these technologies include the cassava processing equipment, corn flour equipment, the palm-kernel cracker and oil extractor among others,” he stressed.

In his response, Agulanna said: “This visit is a window for the Institute to start to impact positively on the economy of the country and we do have a lot of researched product on our shelves and we think with this coming of BoI, we will be well guided in trying to disseminate some of the technologies that we have here and some of the R& products.”

He stressed that an established outfit like the institute would not only provide direct employment, but had the capacity to create indirect employment for others.

http://businessdayonline.com/2014/11/boi-endorses-proda-as-cottage-fund-equipment-supplier/#.VGNT78kjIdU

Abia guber 2015: Why I’m running —Ikpeazu

Dr Okezie Ikpeazu, Deputy General Manager of the Abia State Environmental Protection Agency has just resigned his position to contest for the Abia governorship seat. He is running on the platform of the ruling Peoples Democratic Party (PDP). The PhD degree holder in Bio-Chemistry hails from Isiala-Ukwu Mbato in Obingwa Local Government Area of Abia South senatorial zone. In this interview with PETER OKORE, Ikpeazu speaks about his dream of building a new Abia. Excerpts:
Posted on October 22, 2014.

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What qualities and experience do you think places you on a better position to be Abia governor?
There are many. I started as the Local Government Transition Committee Chairman for Obingwa in 2002. I was the first Transition Committee Chairman of Obingwa Local Government council for seven months. At that time, it was our responsibility to unify the local government and bring all our people under one umbrella. Indeed, we created sufficient awareness. We also intervened in agriculture by providing fertilizers. We also provided learning aids to primary schools, which were directly under the control of the local government councils. We intervened in electricity projects, water boreholes, amongst other things.


After that I became the Special Adviser on Environment and Sanitation to the then Governor. On that duty post, I decided to do the first enumeration of waste generation in Aba and its environs. We were able to determine waste output per- capita. From this exercise, we were able to use the population census figures to determine the quantity of garbage that comes out of Aba city every day. Besides that, I played a very prominent role in drafting what later turned-out to be ‘the Abia State Basic Environmental Law of 2004′.


After that position, in 2007 I became the General Manager of Abia State Passengers Manifest and Safety Scheme (ASPIMSS). On this duty post, my challenge was to provide an integrated healthcare system for accident victims. I started with medical ambulances on the Highways, which we called Abia State Accident Intervention Scheme. Those ambulances were stationed on the highways to rescue accident victims, and take them to some designated hospitals we had created some relationships with along the major highways. They included the Annunciation Hospital at Enugu, Chionye Hospital at Owerrenta and the Abia State Teaching Hospital in Aba.


On my second return to ASPINS as the GM, a position I held till 2013, I decided to take that intervention scheme to the next level by conceptualizing and building a Trauma Centre; a specialized hospital for those accident victims who had trauma. This is funded by the state government so that accident victims who are helpless can be taken to the Centre and treated. Work is currently going- on at that hospital and will be completed soon. It is a worthy course.


That is not all. I was also the first chairman, Governing Council of Abia State College of Health Technology, Aba. It was under my watch that the former School of Hygiene, Aba became a standard College of Health Management and Technology, one of the best in the country. I also made sure that we had zero tolerance for cult activities. Most importantly, without government subvention, we were able to get accreditation for three of the five proposed courses by the National Board for Technical Education, NBTE. Today, that institution is a Diploma awarding school with full rights and privileges.


In 2013, I was appointed the first Deputy General Manager of ASEPA, in-charge of Aba and environs; comprising seven local Governments. Aba generates close to 5, 000metric tonnes of garbage every day. The operational and existing 13 markets account for this situation in Aba. Most of these markets run two shifts-early morning and late night; all generating refuse in full capacity. The conveyor belt that brings out garbage is perpetually in motion. For the first time, we have designed, crafted and brought to life the first waste management policy for Aba and environs, which has been adopted by the African Development Bank (ADB) as a working document for the assistance they want to render in Aba.


We have also developed a waste management pattern for markets, households and all segments of the society. We have a policy where garbage must be brought only from 5pm and evacuation done in the night. We also tasked the ingenuity of the average Aba person by developing what we called the Keke power-pack, where generators are mounted on Tricycles with lamps for night vision. This facilitates our work.


There is however, room for improvement there. We have not done all we wanted to do in Aba. For instance, there is the need for us to start intervention on the garbage issue from the primary source. What we are presently doing is the secondary and tertiary waste management, which are receptacles as well as the tertiary dump. Though I am no longer there, I know that from what we have put in place there, Aba will never go back to those ugly days of filthy and indiscriminate dumping of garbage.



What is your interest in running for the governorship of Abia state?
In the first place, my interest to run for the governorship of Abia state is because of what the present government has done. At the time the incumbent Governor T.A.Orji took over, being a governor in this state was unattractive because we were sub-zero. But today, Governor Orji has built a solid foundation on many fronts. Talk about civil service, infrastructure, corporate responsibility, image, inter- and intra-state relationship; relationship with the federal government, inter- agency and inter-Government relations etc. These have been greatly improved upon. Education and all facets have been touched.


So I am confident that tomorrow I want to see an Abia state where Aba will be able to generate sufficient revenue to help us develop Arochukwu, Umunneochi, Ikwuano and other centres that have capacity for second degree municipality. I also want a revitalization of the railway system, because Abia is one of the states that enjoy robust reticulation of railway. There is need for us to partner the Federal Government or the necessary agencies, namely, the Nigerian Railway Corporation to see how best we can achieve this. There is no reason why somebody cannot live in Ovim and go to work in Port Harcourt. The movement of goods and farm produce from Nbawsi, from Umuoba etc should be able to come to Aba; go to Port Harcourt, pass through Ovim, Umuahia to Enugu and the rest of Nigeria.


I think, if we invest in this it will reduce the dead- weight on our present roads; which is why we have this problem of road failures every now and then.
Again, I want an Abia state where somebody can come in with his suite case, walk into an office and gets all the information he requires within 24 hours to invest in Abia. I dream for a state where somebody will not be dribbled from one office to the other; and at the end of the day, he regrets ever coming to Abia for business. What these Agboro’s(touts) are doing in Aba, making life difficult for commuters, passers-by and businessmen needs to be rejig. As a member of the state IGR committee, I know how much effort the state governor has made to change or reverse this ugly trend in Aba and Umuahia.


So, all I will do is to build on that and make sure that people will feel free and be happy to come to Abia state and do business. I will also like to make sure that the security rating of Abia is improved to become the first safest state in the country. I will also ensure that the city of Aba is ventilated by building a Ring Road and develop industrial clusters around the town, with special emphasis on Leather works and Textiles. We could have a new Aba. We could have a third bridge across the Aba River. We should dredge the Aba River. We should also do something about our drainage system generally by investing in water treatment plant that will take water and return it to the River in a clean way. This way fish can also be happy with the water we are bringing-in. Not just throw-in rain water straight from the drains with all the rubbish into the Aba River.


The beautiful landscape that has been created in Umuahia is ready to take some industries, especially agro-allied industries. Abia is one of the leading cocoa producing states. There is no reason why we should not have a Beverage producing factory to add value to that cocoa. Selling raw cocoa is akin to throwing away your golden egg, whereas you can turn it to omelets. We need to have such a factory in Abia. Umuahia has become a modern city, no matter where you are coming from. We should be able to attract investors from within and outside Nigeria.


Incidentally, I am looking for a day when people will say: ‘if you don’t own a house in Umuahia or Aba, then you have not started’. We also have a long and wide water front around our border with Port Harcourt. We can tap from what is happening in the Oil and Gas Industry and suck part of it through Ukwa-West as well as make sure that the presence of these Oil companies that are doing business around Owazza is felt in Abia state. As I speak now you will never see any Shell Petroleum Development, SPDC, office anywhere in Abia State, yet they have business to do with Abia. We want to see their flag around.


In terms of education, I see the beautiful Model Schools that are being built here-and-there by this administration. I think time has come also to put inside those beautiful buildings smart desks for our children, so that at the touch of a button, a child can do his/her arithmetic and be able to compete because we are in a global world ruled by ICT now.
The e-Library in Umuahia will take the full benefit of that. Every secondary school should also have a semblance of an e-Library. So that at a touch you can access what information you want. That is the only way it can make meaning.





I understand that the PDP zoning to Abia-South senatorial district is in your favour. What do you have to say on this?
I congratulate the PDP for that wonderful decision to zone. This is the hallmark of democracy; consensus, agreeing inside the room without necessarily making a show of it. I hereby acknowledge my compatriots and friends that they are all eminently qualified and am coming to the table with beautiful agenda and plans. But there is time for every seed. This is the time for the seed from Ngwa or Abia-South. I want them to find some space somewhere in their hearts to be humble enough to respect what the party says: because the party is supreme. But if they decide and feel strongly about running, that is okay. Every experience in politics is equally important. But, they better obey the party. History will credit them with their decisions now for posterity to read.
However, I am not in it just because zoning favours me. I am in it because I have been sufficiently fired-up and determined to serve Abia people. This is primary. That I am favoured by the zoning system now is an added advantage and I welcome it with two hands.





Knowing the background you are coming from, how fit are you to stand the financial stress of your electioneering?
My most important need is people, not money. Human beings are the raw materials for politics, not money. Politics requires money. But there is no direct relationship between how much you have and your capacity to deliver the democratic dividend. It is an advantage for me that I am running from the position and point of middle class. I represent the middle class. I do not represent the high and mighty. I count on the middleclass to see one of their own, because I am wearing that shoe. I know where it pinches. Somebody who is too comfortable cannot solve the problem s of Abia. What we require is one of our own; a home bred middleclass person. That was what elected Barrack Obama in America. I think I will get it done here. But there is nothing that is required in politics, in terms of cash to run this race which God will not avail me with.





What advice will you then give to the electorate?
I urge the electorate to identify with me, because I am coming from their constituency and I represent a generational shift. At all times when countries want to speed up progress, they resort to the younger ones. It happened in America, Korea, England, etc. Some of these people are within my age bracket.
I think I have the requisite qualification and experience. Most importantly, I have the humility to stoop low to ask from Abians wherever they may be, in diaspora, Lagos, Abuja, wherever they may be, to come on-board so that we may work together. Nobody has monopoly of knowledge. What I am coming to the table with is that I have the humility to invite Abians, wherever they maybe to come home. The stage is set for us to move Abia state forward now.



In view of the present PDP zoning formula, how would you assuage the fear of ‘winner takes it all’?
I am a product of Nigeria and a product of Abia. The bulk of my friends reside in Aba. From my background I am not weighed down by ethnic or clannish sentiments. I only define people from true perspectives. Either you are a good man or a bad man. A bad person from Ngwa is a bad person. If you are a good man from Bende or from Imo, Hausa, etc, you are a good man.




Aba and Abia belong to all of us. Even the policies of this present administration speak volumes of that. I am a very diligent student of ‘Ochendoism’. Apart from that I have track records judging from the places I worked. In my last assignment, 61% of those who did that magic (environmental cleanliness) in Aba , are from Old Bende. About 18% come from outside Abia state. The rest are from Ngwa area. What this translates to is that if I want to have a piece of job done, I look for those who can do it. Everybody should be comfortable doing business in Aba and Abia state under my watch. It is my duty and primary responsibility to protect all Nigerians who are either on transit or resident in every part of Abia state; stretching from Arochukwu to Ukwa-West.





Given the army of the unemployed currently roaming the streets, what strategies would you adopt to tackle this problem in Abia state?
We have capacity to generate close to 5,000 jobs in Abia state within one year. I have done it before. In ASPIMSS I had 340 people. When I became the Deputy General Manager of ASEPA, I employed 500 people. I know that if we strengthen our institutions of service we can deploy people to deal with that service and it will rub-off on our IGR.
Road Traffic management is a virgin area for employment. Collection of Taxes and Levies is also a very viable area. What we need to do is to professionalize it by bringing experts who are competent to lead our youths into something that is gainful. We can as well encourage youths to pursue carriers.


Again, agriculture is the greatest employer of labour. It looks unattractive now because people feel farming is just for those who are in the villages. But if we cash on the Ochendo Liberation Farms, replicate it in all the 17 LGA’s, commercial agriculture will begin to blossom. Part of what we need to do is to add value to agric- products. We intend to achieve this by doing something about production, storage, transportation and marketing.





How would you look at forging regional integration for the South-East as a governor?
This is lacking in the South-East and we need it desperately. There is need for people of the South-East to forge a cohesive front; not only in the political dimension. We should not, however, allow political interests to divide us and over-ride other interests. We should have the courage to co-operate culturally, economically and religiously. There is no harm in having a regional market or contributing to have a Seaport here. There is no harm in having a cultural festival that can bring our people together; or having one huge Unity School and one Technical Institution for our children to build themselves. Our people are technically-minded people such institution can give us middle-cadre manpower.


We could also pull funds together and seeking development partners, agencies and non-agencies that can come to the South-East and give us something that is unique to our people. We can also look inwards in terms of business out-look. There is every reason for us to come together and there are so many fronts through which we can come together. The time to do it is now; because the West is marching forward. From what is happening in the North, if they wake up any day, we would be left behind. That would be a huge tragedy.


If elected governor of Abia state I am going to be at the fore-front of this advocacy and I believe that is where our ultimate renaissance and rebirth lie. No one state can do it alone. As long as we continue to sing discordant songs, we will be splintered into fragments, and at the end of the day, we will not be able to achieve anything.

http://www.hallmarknews.com/abia-guber-2015-why-im-running-ikpeazu/

Imo State Internal Revenue Grosses Past N1bn Per Month

Imo State has grossed past the N1 billion mark in its internally
generated revenue (IGR) by end of September 2014, BusinessDay
reliably gathered from Chike John Okafor, the immediate past
commissioner of finance in the state, who has just resigned his
appointment to pursue a political career at the House of
Representatives by 2015.
The amount indicates an increase of more than 233 per cent
from about N300 million recorded by the state by end of May
2011, when the Governor Rochas Okorocha administration
assumed office in state.
Okafor, a former senior bank manager at Zenith Bank plc
Owerri, before being snapped up in June 2011, from the
financial world by Governor Rochas Okorocha, said, the IGR
jump was as a result of government’s moves to block most of
the revenue leakages in the system.
The Umuoke, Obowo local government area-born crown prince
and investment banker, said the State’s IGR profile grew from
N221m in March 2011 to N300m by June, and N400m in
October of same year, before hiking through 2012 to notch
N750m by close of 2013 fiscal year.
He said in 2014, the state’s IGR drive has changed
tremendously, as the state government’s method of revenue
collection has engendered confidence in the tax payers, who he
said, now feel no hurt in paying their taxes promptly, “due to
what they saw in the number of projects being built by the
Owelle Rochas Okorocha’s rescue mission government.”
“Imolites now have confidence in the Governor Okorocha’s All
Progressives Congress (APC) state government’s prudent use of
public funds to build projects that touch the lives of the
masses,” stated Okafor; adding that the revenue from internal
sources would keep on improving, as long as the rescue
government would be on the saddle in the state.
Explaining the public current view of perceived increased sources
of the funds for Imo, which may have informed the upsurge in
projects development, the Imo State University (IMSU)
Economics graduate said, the rising IGR, coupled with prudent
financial management of the Okorocha have combined to
accentuate things.
He said: “Imo only picks around N4.7bn from the Federation
Accounts Allocation Committee (FACC), whereas states like Akwa
Ibom collects around N32bn, Rivers 25bn, Bayelsa N18bn. Ours
is just the way we manage our funds with respect to projects
execution.”

http://businessdayonline.com/2014/11/igr-imo-grosses-past-n1bn/

Chinese, Nigerian firms to invest $40m in tractor assembly plant in Anambra

on November 25, 2014 / in Business 12:46 am / Comments
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By Michael Eboh

A Chinese firm, Xiamen XGMA International Trade Company Limited, has entered into partnership with a Nigerian firm, Richbon Group Nigeria Limited, to invest $40 million, about N6.4 billion, to set up a tractor assembling plant in Nigeria. This will lead to the local manufacture of XGMA tractors, heavy duty machineries and equipment.

naira-DollarXGMA, founded in 1951, is a Chinese national large-scale backbone enterprise, which specialises in manufacturing of wheel loaders, excavators, road construction machinery, forklift trucks and mini-machinery.

Speaking in an interview announcing the partnership in Lagos, Mr. Sahm Yap, Vice President Xiamen XGMA, said the assembling plant, which will be built in Anambra State, will be used for the manufacture of majority of its earth-moving machineries and will also provide job opportunities for about 5,000 Nigerians when completed.

Yap explained that Nigeria is an important market to XGMA and it is hoping to make it a centre for sales, after-sales, spare parts supply, financing and manufacturing.

He further stated that the company is currently in discussion with the relevant authorities and is about getting the necessary clearances for the assembling plant, adding that immediately the necessary approvals are secured, work will commence in earnest on the plant.

He said Xiamen XGMA is one of the major supplier of earth moving tractors and equipment in China and the world and has been eyeing the Nigerian market because of the opportunity it will afford the company to deploy its high quality products in Nigeria, and also look for other investment opportunities, especially in areas related to manufacturing.

He said, “Our machines are of the highest quality and the price is highly affordable, this is what we believe will give us an edge against other competitors in the Nigerian market.

“With the partnership with Richbon and when the assembling plant is concluded, our products will be an household name in Nigeria, especially in the area of civil engineering and construction.

“The partnership will create enormous job opportunities for Nigerian and will help attract the much-needed investments into Nigeria.”

He said the company is ready to transfer its technology to Nigerians and cooperate with Nigeria in achieving economic development, adding that the memorandum of understanding it signed with Richbon will serve as the starting point towards achieving these goals.

On its partnership with Richbon, Yap disclosed that it took the company a long time before it could get a company to partner in Nigeria, due to its commitment to quality and high standard.

“When we had the opportunity to partner with Richbon, we discovered that we had a lot in common and that our interests match. Since we started the cooperation with Richbon about a year ago, last year, we have seen a very good and long term partner and we believe it will be beneficial not only to both companies, but also to the Nigerian economy.

Also speaking, Mr. Chike Muonagolu, Chairman/Chief Executive officer, Richbon Group, said both XGMA and Richbon have signed an assembling agreement with two vehicle assembly plants in Nigeria, as regards the tractor assembling plant in Nigeria, adding that within the next 18 months, they intend to employ between 1,500 to 2,000 Nigerians in the initial stage of the project.

He expressed optimism that that the partnership will bring about increased patronage of the products by governments at all levels, corporate organisations and individuals. “Knowing that the products one is using is made in Nigeria will endear the products to Nigerians, especially as they will know that they can easily get spare parts, after-sales service among many other benefits,” he said.

http://www.vanguardngr.com/2014/11/chinese-nigerian-firms-invest-40m-tractor-assembly-plant/

Petroleum Minister Announces Injection of Additional 2.5bcfd of Gas to National Grid

on November 22, 2014 / in Business 1:38 am / Comments
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T he Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has announced an additional volume of 2.5 billion cubic feet per day (bcfd) of gas to the national grid from now till 2017 under a renewed medium term gas supply commitment from the various gas suppliers.

The Minister who disclosed this during the recent signing of a Memorandum of Understanding (MoU) with various gas suppliers to clear the N36.9b legacy debts owed to some gas producers noted that over 80 percent of the additional gas volume will go to the power sector to support an additional 5-6 GW relative to today’s capacity.
L-R; GMD NNPC, Dr. Joseph Thlama Dawha, CBN Governor Mr Godwin Emefiele CON, Minister of Petroleum, Mrs Diezani Alison Madueke, Minister of Power, Prof Chinedu Nebo, and Chairman NERC Representatives Commissioner Eyo Ekpo as HMPR, Minitser of Power,xCBN Governor, Chairman NERC, CEOs of IOC and NNPC GMD Sign MoU on Gas Supply at the Transcorp Hilton Abuja. PHOTO; SUNDAY AGHAEZE. NOV 18 2014

L-R; GMD NNPC, Dr. Joseph Thlama Dawha, CBN Governor Mr Godwin Emefiele CON, Minister of Petroleum, Mrs Diezani Alison Madueke, Minister of Power, Prof Chinedu Nebo, and Chairman NERC Representatives Commissioner Eyo Ekpo as HMPR, Minitser of Power,xCBN Governor, Chairman NERC, CEOs of IOC and NNPC GMD Sign MoU on Gas Supply at the Transcorp Hilton Abuja. PHOTO; SUNDAY AGHAEZE. NOV 18 2014

Mrs. Alison-Madueke emphasised that payment of the legacy debts which is the fallout of the intervention package brokered by the inter-agency committee made up of the Central Bank of Nigeria, the Ministries of Petroleum Resources and Power and the Nigerian Electricity Regulatory Commission (NERC) would ensure that appropriate security mechanism would be in place to ensure that gas sold to the power sector would be paid for thereby creating a viable and sustainable gas sector.

“Let me assure on short term progress in gas supply too. Today, the Utorogu/Ughelli gas plant is producing at its highest level as production ramps up from about 350mmcf/d a few months ago to over 400mmcf/d currently. We are also making good progress in the construction of the bypass gas pipeline to Alaoji, Abia State. This will add almost 100mmcf/d of gas to power Alaoji and Calabar IPP before the end of December. In addition, supply to Gbaran IPP is also being finalized for readiness before the end of December,’’ the Minister said.

Mrs. Alison-Madueke noted that with these projects, the target of 5000MW by the end of the year would be met from a gas availability perspective.

Speaking earlier at the signing of the MoU, the CBN Governor, Mr. Godwin Emefiele, said that the MoU signaled the collaboration efforts among the Ministry of Petroleum Resources, Ministry of Power and NERC to intervene in the Nigerian electricity supply industry (NESI) with a view to resolving its liquidity challenges.

He said that other power sector value chain players must also agree to specific service-related commitments, which include, gas suppliers’ commitment to assured gas supply at higher volumes; and generating and distribution companies’ commitment to utilizing the funds for equipment/infrastructure acquisition, refurbishment and/or upgrade.

Emefiele explained that all parties will also be subject to additional oversight mechanism to be developed by NERC and CBN to ensure business continuity and that all power sector players meet obligations that are critical for continued electricity supply in order to ensure sustainability of gas to power projects in the country.

PIB ‘ll Boost Nation’s Hydrocarbon Reserve – Dr. Okon

The Nigerian National Petroleum Corporation (NNPC) has noted that when passed into law, the Petroleum Industry Bill before the National Assembly would shore up the nation’s hydrocarbon reserve and impact the economy positively.

The Group Coordinator, Corporate Planning and Strategy of the NNPC, Dr. Tim Okon made this known in a panel discussion recently in Abuja.

Dr. Okon stated that the PIB would usher in an efficient acreage management system of the nation’s oil and gas resources which would naturally increase the national reserve and add more value to the petroleum sector.

He said the NNPC in the post-PIB era would become commercially driven and focus primarily on the oil and gas business without the encumbrance of regulatory function, adding that the Corporation would join the league of the Petronas and Petrobras of this world in the hydrocarbon business.

Dr. Okon noted that the NNPC is fully prepared for the passage of the bill, stressing that with the recent divestment of some of the International Oil Companies, the NNPC and its subsidiaries have risen to the occasion of managing some of the divested assets.

He added that the passage of the PIB has become very imperative as it would promote transparency and accountability in the oil and gas sector.

The NNPC Chief strategist said the delay in the passage of the bill has created an atmosphere of uncertainty which has stalled massive inflows of investment into the industry. He called on the National Assembly to expedite action and pass the PIB, adding that the bill, when passed into law, would promote the growth and development of the nation’s hydrocarbon business and generate massive employment opportunities for Nigerians in the sector.
- See more at: http://www.vanguardngr.com/2014/11/petroleum-minister-announces-injection-additional-2-5bcfd-gas-national-grid/#sthash.ntHlt82B.dpuf

Enugu made history, Wednesday, as the only Nigerian city among 35 cities from across the globe invited to join the 100 Resilient Cities Network (100RC) pioneered by The Rockefeller Foundation, New York.

The announcement was made during The Rockefeller Foundation’s Urban Resilience Summit in Singapore. The other three African cities that made the list alongside the Coal City of Enugu are Kigali (Rwanda), Accra (Ghana) and Arusha (Tanzania).

The choice of Enugu was predicated on the transformation of the road network in the city under Sullivan Chime. This was in addition to numerous national and international recognitions that have been bestowed on Enugu state. The organizers of the network said that Enugu was chosen from nearly 350 applicants on the basis of its ability to “demonstrate a unique vision for resilience, a long-term commitment to cutting across levels of government and sectors of society, a special attention to the needs of the poor and vulnerable.”

The Foundation stressed that Enugu like other Network cities will serve as a model for other global cities that seek to build their own resilience.

This second wave of cities will join 32 cities that won last year’s 100 Resilient Cities Challenge, forming a growing network of urban centers around the world that are ready to respond to the social, economic and physical shocks and stresses that are a growing part of the 21st century.

Other renowned cities of the world invited to join the list in the 2014 edition include Athens, Barcelona, London, Paris, Boston, Chicago, Amman, Sydney and Singapore.
100-Resilient Cites was created by an initial $100 million commitment by the Rockefeller Foundation as part of their Centennial last year, recognizing the trends of urbanization and globalization that characterize this century.


http://www.vanguardngr.com/2014/12/enugu-makes-history-joins-worlds-100-resilient-cities/

Our plans to build equipment assembling plant in Anambra State, Nigeria, by Yap

Monday, 01 December 2014 16:04
Written by Chijioke Nelson

Ya-pixSahm Yap is the Vice President of Xiamen XGMA International Trade Company Linited, China. In an interview with journalists in Lagos, he spoke on business opportunities in the country and plans to establish tractor assembly plant. CHIJIOKE NELSON was there. Excerpts.

XGMA team has been visiting Nigeria since last year. How would you assess the investment potentials in the country?

In fact, one of the reasons for our visitation to Nigeria is to re-assess the progress thus far on the heavy-duty construction and equipment assembling plant. When we signed the franchise last year, one of the priorities in the agenda is to have made in Nigeria construction equipment, which will be the first of its kind so far. In no distance time, the discussion will get to the peak, because we have been able to sign Memorandum of Understanding in line with government’s policy. The reason is that Nigeria and China have a good and long-time relationship. Since we incorporated with Richbon last year, I haven’t been here, but this time that I am here, it is because we are discussing on the assembly plant. Beside the reason of assembling plant, we will discuss other businesses relating to manufacturing.

We pay very high attention to this visit because Nigeria is an important market for us. We plan to build Nigeria operations as a centre for West Africa in sales and after sales service and manufacturing.

What are the reasons for XGMA partnership with Richbon Nigeria Limited?

XGMA is a top earth-moving equipment supplier in China, even in the world over, hence, it took us a very long time to find a partner in Nigeria. We were founded in 1951 and a Chinese national large-scale backbone enterprise, which specialises in manufacturing of wheel loaders, excavators, road construction machinery, forklift trucks and mini-machinery. When we met Richbon last year, we found that we have a lot of things in common. Richbon’s concept of doing business, finance and capability can match our expectation and this was why we chose the company, especially for Tractor and Equipment.

In your estimation, what would be the benefits of this partnership to nation’s economy?

First, our machines are of very good price and quality. Directly, we can bring in good machines with favourable price into Nigeria, especially in the construction sector and through our cooperation with Richbon, we will create more job opportunities and also attract more investment in this country. Since the time the Chairman and Chief Executive Officer of Richbon Group, Chief CJ Chike Mounagolu, met with XGMA construction equipment, they have been able to study the technology and find out that it is the best and a top Chinese construction equipment. We took time to re-assess our quality and it came out to be perfect. What makes it perfect is the kind of quality technology being used, like the Cummins, Isuzu and Perkins engines, which are pretty more the same as people are familiar with here. What attracted our attention more is the honest way of doing things, the response to customers, excellent delivery and commitment to ensure that we are not only after the money, but to ensure that users get values for their monies.

We have a lot of packages to unveil in no distance time. The core reason why we are in Nigeria is to re-access the progress made so far in the assembling of the plant, which is top in the agenda. This is an investment that will attract over $40 million by the time the plant is installed and it will create more than 5, 000 jobs here. We are targeting the first 12 to 18 months to employ 40 per cent, which is 2, 000 employees, while at the end, we must have created more than 5, 000 jobs in line with government policy.

When is the assembly plant coming on stream in Nigeria?

Since this cooperation is related to the technical aspect, on our side, we are ready to transfer the technology to Nigeria. Secondly, we have signed a MoU with Richbon on this cooperation and Richbon Group has assured us that the MoU between it and the state government is making a tremendous progress.

They are awaiting approval from the national automotive council, while the government of Anambra State has demonstrated the willingness for the partnership, which MoU would be signed very soon for the location of the plant. The state government would collect the land as equity. As soon as the MoU is ready in the next one week, we review it and the parties involved would be giving time to study it and once it is signed, the assembling plant will come onstream.

What value proposition do you have with your machines?

The most preferable thing for our machines is the favourable price regime. The price is wonderfully competitive that we can assure you, but most important is the quality, which we would be offering to our customers in the country. I will tell you that one of the local contents Richbon is going to unveil would be all XGMA, which are all tested products. These are all excellent products with one-year warranty, sale and after sale service. The investment strategy we want to unveil in Nigeria is part of our efforts to make XGMA product a household name. They will be government-contractor friendly user products and will be made-in-Nigeria. The spare parts would be made here in Nigeria, which will save the cost of freighting such parts from abroad. We have strategies to make things easier for contractors- lease the equipment to them and give an option of buy backs. This means that if you buy the equipment, after you have finished with the equipment, you can sale it back to us. Richbon and XGMA are coming with a lot of goodies and better proposition for all the contractors or the users of construction equipment in Nigeria.

http://www.ngrguardiannews.com/business/188690-our-plans-to-build-equipment-assembling-plant-in-nigeria-by-yap

He might be a political bigwig in the country but in his residence in Lagos, Mr. Jude Emeka Idimogu is a philan thropist with a distinction, a humble man to a fault. He has decided to contest for Lagos State Assem bly under the umbrella of Peoples Democratic Party (PDP) for Oshodi- Isolo Constituency. He is from Imo State but has lived in Lagos for long, hence the decision for aspiring to be a legislator in the state. In this inter view, he speaks on various issues. Excerpts:

What prompted your aspiration to run for Lagos State Assembly?

I want to serve my community. They are in pain, all our representatives have failed to hear our cry. We are being deprived of a lot of things. It’s not the wherewithal but sometimes the will to do it; some of our representatives are so bad one can weep for us. But, by the special grace of God, if God gives me all the possibility to be there, I believe I will change lives positively for people. My lifestyle will make other politi cians, who have been there before to have a re-think to understand that being there is to serve humanity and to serve God.

Don’t you think to serve your com munity, there is no much to do from Lagos House of Assembly?

For now I want to take it from the grass roots; so I have decided to go for the Lagos House of Assembly from the grassroots; then from there, depending on how it goes, I will move forward. But for now, there is much to be done for this constituency, if you look at Oshodi/Isolo community, it will disgust you. Our roads are so bad that and is the major thing. The road is bad and the gridlock too much.

The many hours we lose in traffic is so much and these are the things I wonder and I look at it and weep. When you ask the representatives about the road, they will tell you it is federal road and state road. What’s the meaning of that? We are the people that use it, not the Federal or state government. These roads are meant for me and the people of our community, so most times, no matter how good your car is and you are taking bad roads, there is no way your car will not have problem and at the end of the day, you will go and visit the mechanic. When you look at the cost you incur on the road and because of the problem, your car will develop inconve­nience and a lot of time is wasted.

All these will spur disgust for the area. Investors will avoid our area. Yet our cost of living is high like every Lagosian but not enjoying same benefits. It’s not good enough for me. If we are exactly patriotic, it is not necessary that you tar the road; you may not really have money but you can find granite and level the road pending the time help comes from the federal or state govern ment. As long as those in federal and state governments are also human beings, when they see that you have started to proffer a miniature solution to it, they will be urged to come with standard solution. They will feel ashamed that the people or community are challenging them. Before you know it, the help will come sooner than later.

Why do you think your representa tives have not tried to help the com munity?

Our representative is a-one man army. They think they can do it alone. They have forgotten that lobbying is politics. When you are in politics, you lobby because it is not you alone in the State House of Assem bly. You are to be closer to other members and when you have your problem, you table it and lobby every member, including the speaker that your own needs are more important than others. They will allow you to have your way, depending on how you relate with others there. Everything is about relationship and lobbying and before you know it, you will gain more stability and what you want for your community and that is your bottom line.

There is a popular belief that Nigerian politics is about money and godfatherism. How do you see it?

For now, money partially runs politics in Nigeria. For me, my godfather is God. You must also have people that have been there before you, even in terms of money. They can encourage you, advise you and also help to give you a soft landing and to direct you. In everything, even in the world of politics, we have people that you naturally want them to direct you. You may call them god fathers but in Nigeria, the godfathers that are being talked about are your financiers. If it is a godfather who finances me, I don’t have one. From experience, godfathers are people who will direct you the right way to follow, guide you towards success. Politics is an ide­ology that needs guidance. So, there is need for an advisor, not a financier. You know you can’t do it alone, you need elders around you; elders that will speak on your behalf to their associates and acquaintances. Such elders you come across by doing good and being hardworking. When they have seen your quality and your determination to really serve for the benefits of the people, you will definitely have it.

Why did you decide to run under the PDP umbrella?

For today, I represent PDP and the reasons are that PDP controls the centre and because All Progressives Congress (APC) has failed my constituency. The only way for me to make impact is from the opposition. I believe that PDP will make an impact in Lagos State in 2015. Among the people the APC has failed are the Igbo. The Igbo have been suffering under APC. They have been molested. In the history of the world, it was in Nigeria that a governor of a state decided to deport indigenes of another state.

Do you think you as an Igbo man will get your party’s mandate to con test in the main election?

I don’t have a doubt. The problem we have in Nigerian politics is empty promises but I am happy after all that things are gradu ally changing; people are asking questions. I don’t need to be boastful, people have started asking questions; who is that person, what is he made of? For us to move forward, if I get my party’s mandate, I will make it. I am not saying I will make it alone; a tree cannot make a forest. Most people say I am not part of them, yet, I am married to a beautiful wife from Yoruba land. What more do they need? I am the only son of my parents; despite that, I was allowed to marry my heartthrob be cause I love her even though I had ambition to do politics in my hometown but suddenly my mind changed. I felt a stint in Lagos; I have lived in Lagos for the past 30 years and besides, we are all Nigerians and not only that, my wife is a daughter of the tribe. We need to forget tribal boundaries to move this country forward.

Technology and Innovation: How to Develop the Culture of Technology and Innovation to Drive Economic Growth in South Eastern Nigeria
November 4, 2014 - No Comments - News and Articles

It is worthy to note that the tri-angle of innovation around the world is held together by the cooperative endeavor of the Government, the Academic Community, and the Industries. A deficiency or disconnect in any of these key drivers of innovation will definitely bring an imbalance in the innovation ecosystem. This makes the role of the academic community in driving innovation very critical

The world is waiting for innovations from South Eastern Nigeria,Considering the ingenuity of the people from this region,it is time to pay great attention to ways of driving innovation.The South East region of Nigeria has the potential to lead in this following her huge human and material resources.One key sector that has huge potentials for growth and competitiveness is the Education sector-the application and use of technology in Education, but these potentials remain untapped.

Following the enormous challenges facing our universities and other higher education, such as poor funding of the Universities by government, brain drain, Infrastructural deficiency,skill and knowledge gap, poor ethical standards and different levels of malpractices.We all have come to agree that these problems have hindered technology innovation out of our universities for several years.

Despite these daunting challenges there are growing opportunities inherent in the academic community which need to be properly harnessed to ensure the future and survivability of our region. This calls for urgent need to begin to think of solutions to these problems and finding out the way forward with focus on innovation.

Several approaches and projects have been undertaken by the government to foster innovation, some of them have not yielded any good result and has no justification or bases for their institution. It is time for a new method, it is time to critically look at what other nations like Israel and the US are doing in the area of technology and Innovation.

It is worthy to note that the tri-angle of innovation around the world is held together by the cooperative endeavor of the Government, the Academic Community, and the Technology Industry. A deficiency or disconnect in any of these key drivers of innovation will definitely bring an imbalance in the innovation ecosystem. This makes the role of the academic community in driving innovation very critical.The importance of the collaboration of the academy, the industry and government is crucial for creating a fostering entrepreneurial eco-system. The industry funding experience and networking; the academy human resources and R& capabilities; and the government policy – all combined together creates an effective way of promoting and developing business, education and technology for a successful entrepreneurial eco-system. This type of collaboration is non-existent in the region and that is a major problem hindering innovation here as many nations are maximizing their ivory towers by creating superb technology institutes and centres focused at grooming a generation of innovators for the future.

While many universities around the world are at the centre of innovations, leading the formation of thriving tech ecosystems, our universities are yet to realize how important their role is in driving innovation. It gives me great concern seeing how innovation ecosystems are driven by the intellectual prowess of the academics and the academia.For example,the contribution of Technion-Israel Institute of technology to the technological development of Israel and the world clearly shows how relevant the academic community is in leading innovation in a nation. The story of Israel’s transformation as a Technology giant cannot be complete without mentioning the contributions of the Technion-Israel Institute of Technology which has graduated over 67,000 tech entrepreneurs and professionals that are adding great value to the Start-up Nation and the world at large.

As documented in the book Technion Nation, the story of how Technion Graduates are contributing to the development of Israel’s economy, the over 67,000 graduates, holding over 90,000 degrees, indeed became the foundation for Israel’s start-ups, basic research, applied technology, high-tech industry, global management expertise, export sector and economic growth. Specifically, the Technion’s aeronautical engineering department has spurred key breakthroughs for Israel’s defense. Its electrical engineering andComputer science departments have provided the talented graduates who drive Israel’s electronics and software industry, which generates $20billion of Israel’s $40 billion in annual exports. Its architecture and Civil Engineering departments built Israel’s roads and infrastructure. And three of Technion’s talented faculty have won Nobel Prizes in the past eight years. This is just the contribution of one university!.

Harvard University, MIT, Stanford, Geogiatech are a few of the higher education communities that have conquered their environment and are extending their tentacles to other countries and helping them develop innovation around research and development of innovative products and services.

One of the ideas that will help to drive Technology and Innovation is to set up Technology Innovation Institutes and Centres in the Universities focused at driving Innovation and inventions. And then collaborating with some of the successful institutions mentioned above.

A Technology Entrepreneurship Centre in the our universities with the support of the Government, the Technology Industry and the University community will help form a great synergy that will ensure the development of entrepreneurship and impact on the overall economy.

Such centres will serve as an incubation platform for young entrepreneurs who are undergraduates, graduates, researchers and the academic community. The center in its first year of establishment will support the building of at least 100 technology- focused businesses out of the university.. These businesses will focus on using science, Technology and Innovation to solve real problems in our society.

The tech centres will provide business support services and the technology needed, to undergraduates, graduates, researchers and the entire academic community. This support will help them launch, nurture and grow their own businesses thereby reducing the high unemployment rate.

The centres will also help in the commercialization of ideas, inventions, and projects from the academic community – To tap into the potentials of renowned and distinguished professors and other academics to build world class businesses. This will be a catalyst that will drive innovation from the academcis.

It will however provide a platform that will foster collaboration in research and development between Israel, the US and South East Nigeria.

More also,through an exchange program, Entrepreneurs from the center will have opportunity to visit Israel, Silicon Valley and also learn from the culture of entrepreneurship in those countries.

The Technology Innovation centres will be a channel to introduce our young tech entrepreneurs and their businesses to the international market and expose them to Venture Capitalists, Partners etc. that will scale their businesses.

All of these and many more benefits will be achieved if we begin to look at Technology and Innovation in the region and the role the Universities can play.

http://www.southeast-investmentsummit.com/news-and-articles/

Harnessing the Rich Economic Potentials of South Eastern Nigeria as Oil Price Drops
November 26, 2014 - 1 Comment - News and Articles

Contributed by Onyebuchi Ogbaegbe

South Eastern Nigeria is made up of an ethnic nationality known as the Igbo’s; with a total land area of about 15,800 square miles (about 41,000 square kilometers). The region currently has 5 states – Abia, Anambra, Ebonyi, Enugu and Imo States with a population of over 20 million. Their common language is Igbo language with majority of them Christians. Their kiths and kin could be found in Delta, Rivers, Bayelsa, Edo, Akwa- Ibom and Cross Rivers States.

A people known for their enterprise, resilience and a great deal of intelligence. The average Igbo man is entrepreneurial, dogged and very industrious. These qualities give the Igbo man an edge over his peers from other regions in Nigeria as he can survive under any condition. His creative abilities are unequalled and unimaginably breathe taking. It is usually said that Igbo’s are great travelers; they find it very easy to integrate with their host communities which could be alluded to their great sense of hard work.
The civil war that occurred in Nigeria was fought on the grounds of Eastern Nigeria between 1967-1970, an Igbo enclave. This made many young Igbo’s leave the region in droves immediately after the war in search of greener pastures.

However, 44 years after a traumatic civil war, South Eastern Region is yet to maximize her full economic potentials, a trend that needs total overhaul to make Igbo land the Dubai of Africa- it is very possible! I did a little research and I confidently discovered that all the resources we need as a people to turn around the fortunes of the economy of South Eastern Nigeria are very much within reach.

So, again, I want to take you on a journey, a journey of possibilities with boundless opportunities. A South Eastern economy that can keep our youths off the streets and crimes reduced to its barest minimum through job creation. An economy that can put smiles on the faces of great Ndigbo and help them forget the disillusionment of a lost war.
South East has the best arable land for farming in the country- It is often said that everything grows in Igbo land. The region also has comparative advantage in the production of subsistence crops like Yams, Maize, Rice, Plantain and Cassava. Cash crops like Palm Oil, Rubber, Cocoa etc are all grown in Igbo land. In this era of rising food prices, the region could potentially offer food security to Nigeria and generate export revenues. Nigeria’s food imports cost more than N684 billion as at December 2013 and South East can tap into this opportunity.

Fellow Ndigbo, Indonesia has a well balanced economy in which all major sectors play an important role. Agriculture (including animal husbandry, fishing and forestry) has historically been the dominant activity in terms of both employment and output. We can feed our people, create jobs and export even beyond the shores of Africa in large quantities.
Every state in Igbo land has the ability to produce different agricultural produce and place the region as an agro-based regional economy. To solve some of the problems bedeviling the agricultural sector, governments of the 5 South Eastern States should consider the following options;

Provision of irrigation facilities to encourage all year farming.

Well monitored distribution of fertilizers to all farmers in the region
Adopting appropriate farming techniques which can help reduce erosion problems
The distribution of insecticides and pesticides that can help control pests and diseases
Provision of interest-free Agric-loans to encourage young school leavers
Provision of machineries for hire to encourage youth’s involvement and mechanization.
The provision of modern storage facility like silos and refrigerated vehicles can help reduce the problem of storage.

Land tenure system should be reformed to allow for easy access to land
Rural areas should be provided with facilities such as water, electricity, banks etc to reduce rural-urban migration.

The use of agric extension workers to educate farmers on modern farming techniques and the use of improved seed varieties.

If all roads in the villages are tarred in South East, the agro –economy sector of the region would have been given an accelerated boost.

South East Nigeria has a large deposit of limestone, coal, zinc-ores, lignite, coke salts, columbites, tantalite etc, proper harnessing of these bountiful resources will automatically raise the bar in economic terms for South East. Coal could be used to generate electricity, we have the best limestone for cement production, our columbites and tantalite are valuable rare elements used in electronics manufacturing.

Now that crude oil price is nose diving without control, the states and federal government should collaborate to grant titles to organizations to explore, mine and sell our rich mineral resources which will generate foreign exchange for infrastructural development.
Many local and foreign investors should be encouraged to take up this challenge as leaving it untapped could be detrimental just as shale gas is creating less demand for our crude oil.

You will agree with me that the significance of micro, small and medium scale enterprises for the growth , productivity and competitiveness of the economies of a developing region like South Eastern Nigeria is universally recognized. Not only do they provide employment and income for the bulk of the population as well as the primary source of new jobs, they have been acknowledged as critical breeding and nurturing grounds for domestic entrepreneurial capacities, technical skills, technological innovativeness and managerial competencies for private sector development. The promotion and development of small and medium enterprises is therefore central to the progress of the region’s economic development.

It may also interest you to note that growth in the Brazilian economy has been fuelled by manufacturing which provide massive employment for her people.
China, a major industrial power has turned the manufacturing sector so huge to the admiration of many nations. Their human capacities come in handy to provide the necessary support and manpower needs.

In support of the development of the strategic domestic economic growth, South East Governors should appoint training institutions to which SME’s can send their employees for training with 80% government subsidy. All the 5 South East States should partner with Bank of Industry (BOI) to provide low interest loans to vibrant young entrepreneurs with realizable business proposals.

Investors do not invest out of charity; they invest where there are grounds for growth. Provision of guaranteed security and improving social infrastructure will position the region as the best bride for investors.

The manufacturing and industrial activities in Onitsha, Aba, Nnewi, Enugu, Akwete etc should be strengthened. Power is their major challenge, they need adequate capital to increase their production capacity and they equally lack adequate manpower. Basic accounting training could be provided to enable them keep proper records of their activities. Government should provide tax holidays and banish double taxation especially for new industries in the region.

Other areas of concern include building and construction sector, government should partner with private sectors to develop estates that could be affordable by both civil servants and business men and women in the region. Helping every South Easterner own a home in major cities of the region will accelerate healthy living.

Our people are generally traders, the construction of Enugu-Portharcourt Road, Enugu-Onitsha Road, Owerri –Portharcourt Road, Umuahia-Ikot-Ekpene Road, Aba-Ikot-Ekpene Road, Second Niger Bridge, Rail links from Portharcourt through Enugu to the North and the opening up of Onitsha Port by the Federal Government of Nigeria will surely unlock the economic fortunes of the region and encourage inter-regional trade. This will increase both distributions of goods within and outside the region to foster increased trade relations.
The emergence of Information and Communication Technology should be well utilized by our business community. We can now advertise and sell our goods online. Aba shoe producers now have a website as a union. This is very encouraging as other cluster groups should toe same line. We must showcase our legendry and creative excellence for the world to see.
The hospitality industry is still growing in the South East as notable Igbo sons and daughters have taught it wise to invest in this sector. A lot need to be done; the standard should be increased so that people can fly down to East to spend their vacations and holidays.

Igbo land has produced notable great sports men and women that made fortunes through sports. The youths are looking for avenues to express their youthfulness and sports provide the platform. Sporting facilities should be built in each state of the region to encourage our youths to participate fully in various national and international sporting competitions.
With the sharp decline in the prices of crude oil around the globe, occasioned mainly by U.S Shale gas production which has grown rapidly in recent months , thereby reducing market demand, It becomes obvious that diversifying the region’s economy has become paramount.

We must come back home and develop Igbo land, we must improve our local economy to attract foreign investors.

As a people, it is very pertinent to note that achieving greatness is very possible with the’ I CAN’ spirit of every Onye Igbo. It shall be well with Ndi be anyi, Igbo Amaka, anyi bu ofu. Ndewo nuoooooo!

http://www.southeast-investmentsummit.com/news-and-articles/

Chime budgets N96.7b for 2015

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By Emmanuel Nzomiwu

Correspondent



Governor Sullivan Chime of Enugu State has presented a budget estimate of over N97.6 billion for 2015 to the State House of Assembly.

This represents over N2.9 billion, or three per cent increase from the 2014 budget of over N93.7 billion.

Making his budget speech at the State House of Assembly chambers on Tuesday, Chime explained that over N54.9 billion was set aside in the new budget for capital expenditure, while over N41. 7 billion is for recurrent expenditure.

According to him, Works and Infrastructure received the lion share of N14.9 billion to be deployed mainly for the completion of on-going projects in both the urban areas and payment of liabilities to contractors.

Chime disclosed that the Education sector got the sum of N6.1 billion, while Health and Agriculture received N4.9 billion and N4.3 billion respectively.

He said, the sum of N2.9 billion went to the Water sub-sector with Commerce and Industry, Tourism, Sports, Security, Environment, Housing, Transportation, also receiving substantial allocations.

Reviewing last year’s budget, Governor Chime said the government recorded remarkable successes in all sectors, noting that the 332 kilometres of rural roads constructed by the Government have enhanced inter-connectivity and drastically reduced travel times from the 17 Council headquarters to Enugu, because they can all now be easily accessed by road.

“With 295 kilometres of roads completed in Enugu and Nsukka urban cities, not many of our people, today, remember the pains of moving around some seven years back. We were voted in to bring about good times and we have done our best to do just that,” he said.

Noting that the budget presentation was the last he would make as Governor of the State, Chime recalled that when he took office in 2007, he visited all the 472 communities in the State and identified the key development needs of the people as chosen by them.

According to the Governor, the good news is that all the communities have had some or all of their chosen projects executed for them by the Government, adding that his administration was committed to completing and handing over the various on-going urban and inter-Local Government roads which are currently at various stages of completion.

http://dailyindependentnig.com/2014/12/chime-budgets-n96-7b-2015/

Anambra Government projects $1.5bn investments for 2015
By BusinessNews Staff on December 21, 2014

The investment climate of Anambra State seems bright as the state government projects to attract about $1.5 billion worth of foreign direct investments into the state’s economy by the first quarter of 2015.

Already, the government says, in the past 10 months of the Governor Willie Obiano-led administration in the state, it has invested over $1.2 billion on the development of infrastructure across various sectors of the state’s economy, including agriculture, power generation, the hospitality industry, among others.

Commissioner for Information, Culture and Tourism in the State, Chief Anthony Onyima, said in Awka, Anambra State capital that already, the state government had invested about $1.2 billion on infrastructural developments including agriculture, power generation, hospitality industry among others. He reiterated government’s commitment to the transformation of the state to a first choice investment destination across the South East region.

Onyinma who was special guest at the formal opening of the new ultra-modern office complex of Brande Aristotle in Awka commended the frontline advertising agency for what he called ‘’ the high level of professionalism’’ displayed by the agency in delivering top class marketing communications services in the state.

The Commissioner who noted that Brande Aristotle was the first Advertising Practitioners Council of Nigeria (APCON) registered, and Association of Advertising Agencies of Nigeria (AAAN) certified agency to open shop in the South East, charged the agency not to relent in its efforts, adding that, given the high level of expected investment inflow to the state, there would be need for more professional advice to investors by a competent advertising agency, in the highly specialised area of marketing communications.

“So far, we are satisfied with the quality of value you are adding presently to our state. We are glad your agency was convinced to come to Awka. The quality of professionalism we see in you is definitely unmatched’’ he said.

In his remark at the occasion, Managing Director and Chief Creative Officer, Brande Aristotle Limited, Mr Tony Odili Ujubuonu stated that the agency was committed to the task of delivering high quality marketing communication service to clients, adding that the move to open an office in Awka was the agency’s way of telling investors that the capacity was available to give support and to add value to every enterprise.

http://businessnews.com.ng/2014/12/21/anambra-government-projects-1-5bn-investments-2015/

If Gov Obiano can attract $1.5 billion investments in the 1st quarter 2015, only God knows how much more investments he would have attracted before the end of year 2015. Good Job !!! # Ala Igbo on the move

IMO STATE ECUMENICAL CENTER, OWERRI.

This is an architectural masterpiece