Despite the negative situation in some parts of the Country, Nigeria is still on course to cementing its position as a World class economy. Nice one there.

ba7man: Despite the negative situation in some parts of the Country, Nigeria is still on course to cementing its position as a World class economy. Nice one there.

This is the real ba7man commenting...bros many more will even take place.let's pray for the success of the power sector reforms

awodman:
This is the real ba7man commenting...bros many more will even take place.let's pray for the success of the power sector reforms

Amen to that. If GEJ can resolve the power sector, the songs this nation will sing will certainly be different.

ba7man: Despite the negative situation in some parts of the Country, Nigeria is still on course to cementing its position as a World class economy. Nice one there.

Very true.

...i think GEJ has really done well for this country,though he is on the quiet side but truly a silent achiever!my only concern is that non of the investments seems to be going to the north where i honestly think is most needed!this must be a price the north is paying for their self-inflicted instability!

Diversification of the economy in full scale. If GEJ transforms the importing economy he met on ground to an export based economy, he would recorded yet another landmark achievement. Goodnews, fresh air

Let us not be deceived we cannot reap cassava when we sow cocoyam; there has been no electricity in most areas of Port Harcourt for 3 days nows, how do the new investors hope to compete then?

otokx: Let us not be deceived we cannot reap cassava when we sow cocoyam; there has been no electricity in most areas of Port Harcourt for 3 days nows, how do the new investors hope to compete then?

These investors employ world class analysts and strategists who already KNOW what Nigeria's power generation profile will be in the next 2 to 10 years. Their investment decisions are not guided solely by the current situation. The ongoing power sector reforms are on course. Privatization will ensure effective delivery of power. They KNOW this. Unlike YOU who doesn't know, THEY actually KNOW.

Itoroetti :
thank u lord for using Goodluck jonathan to perfect ur will in our nation

Only my heart knows how much I despise dumb bigots like yourself.

Rossikk:

These investors employ world class analysts and strategists who already KNOW what Nigeria's power generation profile will be in the next 2 to 10 years. Their investment decisions are not guided solely by the current situation. The ongoing power sector reforms are on course. Privatization will ensure effective delivery of power. They KNOW this. Unlike YOU who doesn't know, THEY actually KNOW.

so it is not 2 - 10 years abi? well done!!! Please tell your oga Jona that there has not been electricity in University of Port Harcourt since friday last week.

otokx:

so it is not 2 - 10 years abi? well done!!! Please tell your oga Jona that there has not been electricity in University of Port Harcourt since friday last week.

The president is way too busy. Visit your local PHCN office and file a complaint.

Rossikk:

The president is way too busy. Visit your local PHCN office and file a complaint.

He is too busy to face the truth shey?

Well done Rossikk Nigeria is developing quickly and I am proud to be a part of the progression Nigeria will be the next SUPERPOWER in 10 years

I wonder what happened to this thread. Should've been ten pages at least.

Rossikk: I wonder what happened to this thread. Should've been ten pages at least.

Obviously many Nigerians are not interested in the progress of Nigeria, they would rather criticise and pass daft comments on issues they have little or no understanding of. I am also shocked that the Mods did not deem it fit to put a thread so meaningful and rich in content as this on the front page. Anyway Kudos to you for opening this thread Nigeria is surely on it's path to becoming an economic giant, it's only a matter of time.

Infact as detailed as your OP was i believe it's just a tip of the iceberg as I am aware of several other impending investments which you did not capture chief of which is the impending over $10 billion that would be injected into the power sector in the next five years once the private sector takes over. This of course we know would be a catalyst for several other investments to come in. The sky is indeed the starting place.

Bros Rossike, weldone o.

Very informative thread.

This is the type of thread I like reading one day Nigeria (if we would still be one) will get it right! @ Poster good job and to my one and only President, Goodluck Ebele Jonathan, I say well done sir!

This is what we want to see, hear and read about, as usual, rossikk, your head dey there. Welldone bro.

Good one my bro ros.
Even with Bh boys we are still moving forward THANK YOU GOD.

Vizboy: seun why did these thread not make homepage

seun: because tonto dike was not among the investors

vizboy:WTF

seun: you no want make she give me do abi.

df2006: This is what we want to see, hear and read about, as usual, rossikk, your head dey there. Welldone bro.

U welcome bro.

Nigeria is stirring from its slumber. Its citizens shall follow suit in time.

I am so hopeful about Nigeria.....so hopeful.

TECNO to Build Manufacturing Plant in Nigeria, Unveils P3 Smartphone

BY EMEKA AGINAM AND JONAH NWOKPOKU, 7 MAY 2013



At the launch of its latest smart phone series, TECNO P3, mobile phone maker TECNO has disclosed plans to build a plant in Nigeria.

The Vice President of TECNO group, Mr. Arif Chowdhury who made the disclosure Tuesday during an interactive session with journalists at the launch of the product said that , "Nigeria is TECNO's biggest market in terms of volume and Lagos will be the location of the plant because Lagos is not just the commercial nerve centre of Nigeria but also the economic capital of Africa".

http://allafrica.com/stories/201305080641.html

Egi MJG launches glass manufacturing plant in Nigeria

Fri, 2013-05-31



Egi MJG Float Glass, a joint venture between the Egi Community, Mara Group, JS Group and Ghani Group in River State, Friday announced the groundbreaking for their first float glass manufacturing plant in Nigeria, which is valued at $210 million.



The production facility in Rivers State which aims to produce 500 tonnes of float glass per day, will cost $110 million during the first phase, and an additional $100 million during the second expansion phase, Ventures Africa reports.



During the ceremony, Prashant Manek, Director at Mara Group, declared: “Today’s groundbreaking is a first step in making Nigeria self sufficient in terms of glass manufacturing. As a result of the strategic location and the locally available raw materials, we are highly confident that we will be able to build a world-class, cost-competitive facility.”



According to Ali Siddiqui, CEO of JS Group, “since the year 2000, the global float glass industry has experienced strong growth. In particular, the industry has significant potential in West Africa and this project in Rivers State is a strategic investment in the building materials sector in Nigeria.”



Oris U. Onyiri, President-General of the Egi People’s Assembly stated that the community was “extremely excited with the development of this plant.” According to him, the development will generate employment and transformation.
http://businessdaynigeria.com/egi-mjg-launches-glass-manufacturing-plant-nigeria






Brazil Gets Nod To Build New Satellite Town In Abuja
Saturday, 01 June 2013


THE Federal Capital Territory (FCT) Administration has approved the request of a consortium of Brazilian investors to build a model satellite city in Abuja.

FCT Minister, Bala Mohammed, disclosed this during a dinner and interactive session he hosted in honour of 50 visiting Brazilian businessmen at his official residence in Abuja at the weekend.

He pointed out that the Brazilians would undertake the multi-billion naira investments under the land swap programme recently introduced by the administration to fast-track infrastructure and housing development in the nation’s capital.

According to the Minister, the Brazilian investors are ready to sign a Memorandum of Understanding (MoU) with the FCT administration to define the legal and physical framework for the collaboration.

He said the two parties have resolved that the MoU would be signed before the Brazilians depart for home at the end of their visit.

In addition to their participation in the land swap initiative, Mohammed announced that the Brazilians have also indicated interest in developing an industrial park, a monorail transport system, a world-class hospital and a standard university in the FCT.

The Minister had earlier, in a Power Point presentation, reeled out FCT’s numerous investment attractions such as centrality of location, excellent infrastructure, abundance of rich natural resources, relative security, neutral character and cosmopolitan ambience.

Mohammed told the Brazilians about Abuja’s strategic location as a territory that can be accessed from any part of the country by flight in less than one hour and from any part of the African continent in less than seven hours. Abuja’s unique position as the foremost regional, continental and global conference centre in Africa was also highlighted by the Minister during the presentation.

Earlier, the leader of the delegation and Secretary of Agriculture in the Brazilian state of Grande Do Sul, Mr. Rio Fernando Malwardi, had said that they were in Abuja to explore greater bilateral collaboration with Brasilia the capital of Brazil and Grande Do Sul on one hand and Abuja on the other.

He hailed the FCT Administration for various measures put in place to accelerate development of the capital city, in line with best global standards, adding that he has no doubt that within the next couple of years, Abuja would rank among the best cities in the world.

He said they were delighted to learn that the Abuja master plan envisages the development of the city in a similar manner as Brasilia, the capital city of Brazil. He described Nigeria as an important trading partner of Brazil.

In his remark, the Nigerian Ambassador to Brazil, Ambassador Vincent Okoedion, said Nigeria would benefit immensely from closer bilateral relations with Brazil.

He said that Brazil recently displaced Great Britain as the sixth strongest economy in the world.

The dinner witnessed interactive sessions, cultural dances, songs, entertainments and exchange of gifts.

http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=123418:brazil-gets-nod-to-build-new-satellite-town-in-abuja-&catid=1:national&Itemid=559

Jonathan holds talks with MTN, Toyota, Nissan


Tuesday, May 7, 2013

CAPE TOWN (AFP) – The leaders of Africa’s two largest economies, South Africa and Nigeria, are meeting Tuesday in an effort to improve sometimes patchy ties.

Jonathan will also hold separate talks with the South African-based MTN telecommunications company, as well as representatives of car manufacturers Toyota and Nissan in South Africa

South African President Jacob Zuma and his Nigerian counterpart Goodluck Jonathan are expected to sign several pacts in a display of warming relations between the two African powerhouses on the heels of a trip last month by Zuma to Lagos.

Zuma welcomed Jonathan — on the first state visit to South Africa by any Nigerian leader since 2009 — with red carpet pomp and ceremony including a 21-gun salute, navy band and guard of honour.

Nigerian and South African flags lined the road to parliament in Cape Town and were also hanging outside the National Assembly where Jonathan is due to make an address at 1200 GMT.

“I think symbolically it’s very important to indicate a growing closeness between the leadership of the two countries,” said Dianna Games, honorary chief executive of the South Africa-Nigeria Chamber of Commerce.

“There is a kind of a rivalry that has dogged the relationship over some time, and as a result the two countries are not speaking with a united voice on issues affecting Africa, let alone issues in the relationship itself.”

While South Africa is still the continent’s biggest economy, Nigerian business activity is set to grow more than twice as fast, by 7.2 percent, this year, according to International Monetary Fund estimates.

Total two-way trade has risen to $4.1 billion, with a surplus in oil-rich Nigeria’s favour, according to South Africa’s department of trade.

Nigeria is the continent’s most populous country and its biggest oil producer.

The two states, which both want seats in an expanded UN Security Council, were at loggerheads last year over who would become head of the African Union’s commission.

“It created a very frosty relationship between the two countries,” said Alfredo Tjiurimo Hengari, analyst at the South African Institute of International Affairs.

“My view is also that South Africa has also been trying to overstretch its role on the continent by trying to play a very important role” in countries in Nigeria’s backyard such as Ivory Coast and Mali.

An embarrassing tit-for-tat row also broke out over yellow fever vaccinations that saw passengers turned away at airports in both countries in March last year.

The fact that there had not yet been an official state visit between the two countries was “abnormal for two continental powerhouses”, said Hengari.

“Ordinarily in his first year in office, Jonathan Goodluck should have been to South Africa and President Zuma should have been to Nigeria. That is a symbol of a very very strong bilateral relationship.”

South Africa’s “charm offensive” pointed the way to a more cordial relationship where cooperation could be deepened and contentious issues discussed, he said.

While courting the emerging BRIC markets — Brazil, Russia, India and China — South Africa has not shown the “same political eagerness on the continent” with Nigeria an obvious target, said Games.

“If this is the start of a closer relationship, then I think that would be a very good thing all around for both countries and the continent as a whole because they are the two big powers in Africa,” she said.

The two leaders will attend a meeting of a bilateral business forum, while Jonathan will also hold separate talks with the South African-based MTN telecommunications company, as well as representatives of car manufacturers Toyota and Nissan in South Africa.

http://odili.net/news/source/2013/may/7/341.html



South Korea to invest $30bn in Nigeria’s power sector
Written by Paschal Okeke - Abuja
Friday, 31 May 2013 01:35


A South Korean company, High Quality and Marketing Company(HQMC), in conjuction with their Nigerian partners, Samie Holding Limited, is to invest about $30 billion in the next 10 years to produce 10,000 megawatts.
President of HQMC, Monn-Sang Kim, stated this before signing a Memorandum of Understanding (MOU) with the Minister of Power, Professor Chinedu Nebo.
He stated that HQMC was going to produce 1000 megawatts every year, starting from January 2014 through solar energy.
Kim said that the objective of the MOU was the development of megawatts with Battery Energy Storage System (BESS) of electric power generation capacity in Nigeria through the cooperation of the Nigerian government and HQMC.
He said: “The projects shall be developed following an Independent Power Producer (IPP) model, whereby a special purpose project company shall be established for each project to facilitate equity investment by the parties and third party investors.”
Speaking at the event, Minister of Power, Professor Nebo, stated that Nigeria was very eagre for electricity generation, but wanted to work more with producers of renewable energy.
Nebo said he was happy that the investment would yield growth and provide jobs and skills for Nigerians. He assured the South Korean investors that he guaranteed them that Nigeria was a good place to invest in.
Also speaking, the Managing Director of Samie Holding Limited added that the project was going to spread across the six geopolitical zones.
He said: “We would build, operate and transfer this project to the government of Nigeria.”

http://www.tribune.com.ng/news2013/en/news/item/13234-south-korea-to-invest-$30bn-in-nigeria%E2%80%99s-power-sector.html



ATM 2013: Runsewe opens $3bn tourism investment window for Nigeria
Written by By Wale Ojo-Lanre who was in Dubai
Wednesday, 15 May 2013 00:00




THE former Director-General of Nigerian Tourism Development Corporation (NTDC), Chief Olusegun Runsewe, has opened a-$3 billion-tourism investment window for Nigeria with the Dubai Tourism Development Corporation on Thursday 9 May, 2013 at the World Trade Centre, Dubai, UAE.

Chief Runsewe who led the Nigerian delegation including members of the private sector to the tourism meet which commenced on Monday 6 May, 2013 gave a good show as the Nigerian stand, set in the country’s national colours was not only a centre of attraction, but a must-stop for tourism buyers and sellers who thronged the site making inquiries about Nigeria.

Between Monday and that Thursday, Chief Runsewe had mobilised the NTDC staff in attending to over 2,375 visitors while he personally engaged trade consults from 45 countries.

The impressive performance and activities at the Nigerian stand and the delegation at the market filtered to the Dubai Tourism Authority which invited Chief Runsewe to its stand for a business meet on Thursday 9 May, 2013.

Realising the import of such invitation, Chief Runsewe called the Nigerian media practitioners who were at the market to the Dubai Stand where Dr Ahmed Abdhoul, Chief Executive Director, Strategy and Tourism Section Development welcomed and congratulated him for the giant strides being made at packaging Nigeria as a tourism destination.

“We are grateful to have you here. We have keenly monitored your activities and performance at the Arabian Travel Market in the last three years. You have sequentially improved on your performance in networking, facilitation and awareness creation not only about tourism development in your country, but about the efforts which your president has been making in facilitating investments and investors to Nigeria.”

Dr Abdhoul revealed that Chief Runsewe’s brilliant participation at Arabian Travel Market, in the past three years has endeared Nigeria to the Arab tourism circle which has hitherto made members eager to do business with Nigeria.
“Your brilliant and exciting participation at the Arabian Travel Market in the past three years has endeared Nigeria to the tourism circle in the United Arab Emirates.We are ready to partner and share ideas, knowledge and facilitate tourism investment opportunities between the two great and strong economy countries.”

Elaborating further, Dr Abdhoul revealed that Nigeria could benefit from a pool of over $ 3 billon tourism investment fund available within the Dubai tourism while also calling on Chief Runsewe to gear his government up by ensuring the inculcation of a sustainable and enduring tourism projects.

Dr Abdhoul revealed that “one of the strong points of Dubai’s phenomenal transformation from a desert to a world class tourism destination is our ability to enshrine and launch sustainable projects supervised by competent and stable personnel who nurtured them from concept to completion.
Here, there is stability, sustainability, continuity, monitoring and maintainace.”



He assured that “ I assured you of our readiness to open the floodgate of tourism investments opportunities to Nigeria and Nigerians. With your precedent and past performance, we are confident that the new initiative which we commenced today will be beneficial to the two countries.”
In his response, Chief Runsewe commended Dubai Tourism for keeping note of the progressive tourism movement of Nigeria in the sector’s market, adding that Nigeria has a lot to offer the world.

“In as as much as I thank you for noticing the little efforts which we have been able to offer the tourism world, I am also glad to inform you that we have done nothing yet. Nigeria is a paragon of tourism. We are probably the only country in the world where all kinds of tourism activities could be practised and conducted. We have an over 460 kilometre - beach line, several kilometres of desert, thick rain forests, savannah, numerous waterfalls, a cold and warm spring of unequal fascination, Mambilla plateau, Obudu Ranch, Olumo Rock, and several dazzling cultural festivals.”

Chief Runsewe informed that “We are lucky this time around since the inception of democracy in Nigeria to have Presidents who know the import of tourism, willing and ready to do all things humanly possible to enable Nigeria enjoy the full benefits of tourism potentialities.”

He said: “Let me assure you also that President Goodluck Jonathan is having a passionate interest in exploring the potentialities of tourism as part of his transformational agenda. He is a man who as Vice–President has kept high interest and close contact with the tourism sector. So, whatever deliberation we have here would be blessed by President Jonathan who believes that tourism should not only mobilise wealth, but create employment and empower the nation.”

Chief Runsewe said he would set in motion and inform concerned authorities at home on the investment window opened in Dubai.

“This discussion will not end here. We shall definitely seize this opportunity to boost trade relationship between the two countries,” Chief Runsewe assured.

http://tribune.com.ng/news2013/index.php/en/tourism/item/11864-atm-2013-runsewe-opens-3bn-tourism-investment-window-for-nigeria



Chinese Firm To Build Truck Manufacturing Plant In Calabar

Posted on May 21, 2013

VENTURES AFRICA – A Chinese trade delegation led by the Deputy Mayor of Chang Chun City, China, Gui Guangli has expressed intent to establish a truck manufacturing plant at the Calabar Free Trade Zone (CFTZ), Nigeria.

Guangli revealed this during a courtesy call to Governor Liyel Imoke of Cross River State. He said the team had spent two days in the state exploring possible areas of investments and having found that there are great opportunities, it decided to start with the establishment of a truck plant.

The visit was as a result of collaboration between the state government and the zone to bring investments into the state, General Manager of the Calabar FTZ, Sadiq Kassim, said.

Kassim explained that Chang Chun City, which has a population of over seven million and wants to invest in Nigeria through its chambers of commerce.

Aside building a truck manufacturing company, the Deputy Mayor revealed that the trade mission also have the intention of investing in agriculture and pharmaceutical sectors, noting that China and Nigeria have an age long commerce relationship.

Explaining the rationale behind the investment, Guangli stated that from the study carried out by the manufacturing company, the state (Cross River) is conducive for investments couple with the airport, seaport and free trade zone.

He added that the company which already has eleven outlets across the world including Japan, Germany and the United States will produce trucks that will be of high technology and high class.

The Deputy Mayor however said that volume of production will be determined by the economic indices of demand.

Speaking on the proposed investment, the state Governor, Liyel Imoke, praised the Chinese Trade Mission adding that the move will strengthen and develop the state’s economy.

Cross Rivers state is on one of Nigeria’s oil producing states. The establishment of a manufacturing plant would help divest concentration on the oil production which is the mainstay of the country’s economy.

http://www.ventures-africa.com/2013/05/chinese-firm-to-open-truck-manufacturing-plant-in-calabar/



Chinese consortium plans $6 billion investment in Nigerian housing sector
OLUFEMI ADEOSUN May 27, 2013

China Export and Credit Insurance Corporation, SINOSURE, and International Commercial Bank of China, ICBC, are in Nigeria as part of efforts to invest $6 billion (about N948 billion) in the country’s housing sector.

The Managing Director of the Federal Mortgage Bank of Nigeria, FMBN, Mallam Gimba Yau’ Kumo, disclosed this at a Media Round-Table organised by the Nigeria Union of Journalists, NUJ, in Abuja.

Kumo said the investment tour was part of the bank’s business expansion initiatives aimed at attracting foreign investors into the capital-intensive sector and by implication, ensure a public private partnership arrangement in its development.

Specifically, the mortgage finance expert disclosed that the FMBN had opened discussions with the two investment entities with a view to securing a single digit loan facility totalling $6 billion for the development of the sector.

He said the loan had a tenor of 15 to 20 years and would be given directly to Chinese Construction companies in the country on disbursement tranches of $1.5 billion basis, adding that the firms would build the houses under the supervision of the FMBN.

Kumo said his bank’s responsibility in the housing project would be to create mortgages over the housing units, collect mortgage repayments and use the proceeds of the repayment to pay back the loan.

He said: “As we speak now, a team of the Chinese SINOSURE/ICBC is visiting the country following the series of discussions we had with them in the past and in furtherance of our business expansion drives to encourage private sector involvement in the development of the sector.

“Apart from these Chinese companies, we are also discussing partnership with Globus Financial Services LLC of the United States to access a US $1 billion 10-year facility to finance affordable houses and infrastructure.

“The pilot scheme will involve the FMBN to fund off-takers considered for some Federal and state Governments’ institutions.

The FMBN MD listed the institutions targeted to benefit from the scheme as the Nigeria Police Force which would get $100 million; the Federal Road Safety Commission, FRSC ($50 million) and Nigerian Air Force ($50 million).

Others, according to him, include Nigerian Security and Civil Defence Corps, NSCDC ($50 million) and Federal Ministry of Education ($50 million).

http://nationalmirroronline.net/new/chinese-consortium-plans-n948bn-investment-in-housing-sector/

When will this thread make front page? People need to know that lots of positive things are happening in this country. @rossikke kudos

Excellent thread! Nowadays, The Mods only consider meaningless gossip stories from Linda Ikeji's blog to make front page

Nairaland, please remember that this is our only country and sometimes objectivity should count beyond regional interest. Nigeria deserves our patriotism, this post has been since April and your moderators don't think it deserves front page...sad.
You probably have sold your soul to love for money... I wonder if you have not already sold Nairaland to CIA who will like to disintegrate our country ASAP and sell Chaos and immorality to our youths. Shame on you.

It still beats my imagination why a loaded thread like this is yet to hit front page

didnt know this thread existed, everyday na so so bad news and gossip go dey front page

Pastor Kun: It still beats my imagination why a loaded thread like this is yet to hit front page

You're right bro. You see, something we fail to realize is that the compendium of information posted above is a potential goldmine to any serious-minded business person among us seeking to capitalize on this growth.

These industries being set up will need services. It is not cost-effective for them to provide all their needs in-house. That is where we come in, by setting up ancillary industries and businesses, to support core industrial establishments. So it is important for the masses to know about these developments even as they're being planned. The masses are bonafide stakeholders in the development process.

Okay we don hear Joor