Rossikk: [size=15pt]Foreign Consortium Plans $100 BILLION Investment In Nigeria[/size]

APRIL 24, 2013 BY IFEANYI ONUBA,

Punch Newspapers, ABUJA



The investment drive of the Federal Government has received a boost as a team of foreign investors has indicated their intention to invest $100bn (N15.8tn) in key sectors of the Nigeria economy.

This was disclosed by Chief Tony Hicks of Anita Energy Limited, when he led a 10-man delegation on a visit to the Deputy Governor of the Central Bank of Nigeria, Mr. Kingsley Moghalu.

A statement from the CBN on Tuesday stated that Hicks informed the CBN deputy governor that the purpose of the team’s visit was to bring massive investment that would add value to the transformation agenda of the Federal Government.

The key areas where the fund would be invested, he said, were oil and gas infrastructure, power generation, fast speed train, telecommunications and the establishment of a merchant bank.

He added that the investment would be done in partnership with APEC Logic Investment Limited, an Australian funding investment partner, and SINOPEC, one of the largest oil and gas corporations in China.

The statement further stated that Moghalu informed the delegation that foreign investment in Nigeria could only be meaningful if it addressed skills and infrastructural development.

He explained that the CBN had undertaken reforms of the banking sector to make it strong, resilient and able to serve the needs of the real economy.

This, he noted, was a total departure from the past where some individuals enriched themselves to the detriment of the economy.

Moghalu informed the team of investors that there was a confluence between the banking reforms and the desire of the investors to establish merchant banks expected to facilitate concrete investment in Nigeria.

This, he observed, would strengthen the relationship between the financial sector and real economy, adding that the CBN, as economic adviser to the government, had advocated structural reform of the economy.

He promised the delegation that the bank would provide the needed support to ensure that the planned investment bore fruits and process the banking licence application, provided the necessary requirements were met.

Moghalu reiterated that one of the four pillars of the banking reform was enhancing the quality of banks and financial stability through the creation of the Assets Management Corporation of Nigeria, which absorbed the toxic assets of Deposit Money Banks.

He observed that the banks now had a clean balance sheet and were able to lend to the economy again.


http://www.punchng.com/business/business-economy/foreign-consortium-plans-fresh-100bn-investment-in-nigeria/

Omo_Tier1:
The mere fact that you troll NL all day is a clear indicator that you are jobless. As you may well have known by now, I live very comfortably by Gods grace outside of Nigeria and I have my investments in Nigeria employing people and putting food on their table every day. Need I remind you that it is people like me by God's grace that remitted over $21bn into Nigeria's economy in 2012 alone? I tell you, if the UK were to receive on the average continued stream of investment worth $1.75bn every month, by now the economy would be booming again! But the same can not be said of Nigeria at present because of visionless leadership.

Rossikk:

What a load of nonsense. $1.75 billion a month into the British economy is absolutele PEANUTS that will not even be noticed FOR ONE SECOND, never mind ''making a big impact on the economy''.

The UK's annual GDP is $2.4 TRILLION, and you say what..? That one billion pounds a month (12 billion a year) ''will make the British economy boom again''? Dude, why not just go join a thread that matches your intellect? It's not by force to join every debate.

Britain's leading experts on public finances have warned of hefty tax increases in the first budget after the 2015 election as the next government seeks to repair a £64bn deficit caused by a stuttering economy.

The Institute for Fiscal Studies said tax rises of £10bn-12bn might be needed in the next parliament to put deficit reduction back on track and to avoid "eye-watering" cuts in some Whitehall departments that would reduce spending by a third in inflation-adjusted terms between 2010 and 2018.

eGuerrilla:

Comrade @Rossikk,

Are you simply trying to extend a view that has been comprehensibly routed on this thread, or is the case that you no longer appreciate the value of money? To be honest, with the all-encompassing culture of waste which holds sway in Nigeria, you would be forgiven if you fall into the later category.

Yes, Britain could make do with an extra $21 billion right now. Compared to the actual size of the economy it sounds small but, with the attendant costs of a growing budget deficit, the benefits that would accrue are pretty clear.
This, to me, is the larger import of @Omo_Tier1's point.


http://www.guardian.co.uk/business/2013/feb/06/uk-deficit-tax-rises-election

Rossikk:

What a load of nonsense. $1.75 billion a month into the British economy is absolutele PEANUTS that will not even be noticed FOR ONE SECOND, never mind ''making a big impact on the economy''.

The UK's annual GDP is $2.4 TRILLION, and you say what..? That one billion pounds a month (12 billion a year) ''will make the British economy boom again''? Dude, why not just go join a thread that matches your intellect? It's not by force to join every debate.

Omo_Tier1:
I know you are a local champion, so you have no clue what a free money in the tune of $1.75billion would do to an economy if you keep pumping such an amount every month into an economy.

Let me give you an idea, the UK government in the next five years will only be spending £1bn as investment portfolio in the Aerospace sector and this is believe will create additional 100,000 jobs and it was well celebrated multi-national aerospace companies based in the UK as a very needed investment.
$21bn will build you a high speed rail that runs from Lagos to Kano, from Maiduguri to Calabar, and Airport the size of CDG in france! Now tell me, any economy that receives such FREE investment, if well managed will not become a power house in less than a decade? Mind you, on the average, yearly, Nigerians in the diaspora remit $12bn FREE investment into the Nigerian economy!

Rossikk:

There's an old saying that when you find yourself in a hole, stop digging.

Why don't you stop embarrassing yourself?

Donlittle: Read all these and was LMAO. Damn billy, got a low blow, but couldnt lay low and got a huge blow. Self made billy...naire, nairalanding from the back seat of his benz.... Ayye this dude is feeling like rick ross. Why are u not a comedian?

Omo_Tier1:
Perhaps this statement clearly describe your woeful attempt to promote another phantom mega investment. Need anyone remind you how you have severally touted similar investment in the past and when reminded, like some living in f.ool's paradise and intoxicated with mediocrity, you resort to colonial master blah blah. Dude get it in your brain, Nigeria does not need these phantom project! Need I remind you for all the millions spend by FG to promote investment in Nigeria, We in the diaspora topped FG's returns on FDI last year by factor of 3.5 and more.

I ask you again, how much is Nigeria's total budget for the whole year 2013? Does it occur to you that almost 1/3 of that is what Nigerians in the diaspora sent home in 2012? Huh.. shouldn't any sane government be in position to boost her economy further with such free money

ochukoccna: For a government in dire need of good news to counter its penchant for negativity, this is another Vulcan Energy Scam investment
Whose heard of Vulcan do any thing other than the initial press story
Have they started to build those refineries away from paper plans & press releases yet
Like Vulcan Energy,this consortium has no visible web traffic
A COMPANY SEEKING TO INVEST $100 billion HAS NO VISIBLE WEB TRAFFIC!
Government Magic

They are all scams.
One colin archer sent me an email, offering to provide funds for a developer here in Abuja.
They will eventually ask for a $20,000 for them to come inspect the project.
He uses a roamed line.
The ip address of the website reads Usa yet this guy claims hes in Australia.
Please do a google search on them
Use keywords like apec logic scams and you will be shocked.
There is scam in the highest places.


My exact thoughts too
$100 billion no be beans. money

ochukoccna: For a government in dire need of good news to counter its penchant for negativity, this is another Vulcan Energy Scam investment
Whose heard of Vulcan do any thing other than the initial press story
Have they started to build those refineries away from paper plans & press releases yet
Like Vulcan Energy,this consortium has no visible web traffic
A COMPANY SEEKING TO INVEST $100 billion HAS NO VISIBLE WEB TRAFFIC!
Government Magic


My exact thoughts too
$100 billion no be beans. money

ochukoccna: For a government in dire need of good news to counter its penchant for negativity, this is another Vulcan Energy Scam investment
Whose heard of Vulcan do any thing other than the initial press story
Have they started to build those refineries away from paper plans & press releases yet
Like Vulcan Energy,this consortium has no visible web traffic
A COMPANY SEEKING TO INVEST $100 billion HAS NO VISIBLE WEB TRAFFIC!
Government Magic


My exact thoughts too
$100 billion no be beans. money

Rossikk:

What a load of nonsense. $1.75 billion a month into the British economy is absolutele PEANUTS that will not even be noticed FOR ONE SECOND, never mind ''making a big impact on the economy''.

The UK's annual GDP is $2.4 TRILLION, and you say what..? That one billion pounds a month (12 billion a year) ''will make the British economy boom again''? Dude, why not just go join a thread that matches your intellect? It's not by force to join every debate.

oneeast2:
How far?

oyb:
the legacy of gej - Memorandum of Understanding galore