₦airaland Forum

“Let us assume that the people who are also custodians of Jebba, Kainji and Shiroro dams go to break them down because they are angry, then who gets power

eyeview:
This is exactly what I've been wishing all these zombies who have appointed themselves on behalf of Buhari to insult GEJ on social and mass media. GEJ if he desires can still secure jobs or contracts from buhari if he desires which they,the zombies can't get.
These men might be speaking regularly and cordially while zombies whom buhari doesn't care about will carry buhari's matter on their head

sCun:
Everything must be loan. Even with all the money they are saving, making and supposedly recovering.
Thieves

https://cdn.aiidatapro.net/media/4d/ca/b7/t780x490/4dcab7c913fd8c4d12e320c910d9d3de793a6b53.jpg

August 2 (SeeNews) - There will be partial risk guarantees for the 1.15 GW of solar projects that recently signed power purchase agreements (PPAs) in Nigeria, local media reported, citing the minister of power.

Nigeria has secured a loan of USD 273 million (EUR 248m) for the Nigeria Bulk Trading Company, supporting its efforts to expand the country’s use of solar power, it was revealed on Thursday. Babatunde Fashola, minister of power and housing, said that another loan of USD 200 million from the African Development Bank will go to finance grid upgrades.

By the end of 2016 Nigeria is expected to have 6 GW of power generation capacity. This will grow to 10 GW in 2019 and 30 GW in 2030, Fashola said.

In July 14 companies signed PPAs for solar projects in nine Nigerian states. The list includes power plants with capacities of between 50 MW and 100 MW.

http://renewables.seenews.com/news/nigeria-gets-usd-473m-loans-to-back-solar-grid-projects-534974

Originality007:
God bless Jonathan how my Likes for Hero of our democracy

kelvinreality:
And who is taking the issue seriously than it ought to be


I hope your day was cool?

goonsmi:
We all love and appreciate Fashola and his work in Lagos but the real father. initiator and architect of modern Lagos is Tinubu.

goonsmi:
don't gerrit twisted bro.

limeta:
Get well soon

kelvinreality:


My brother, there is nothing FBI about the news. Let us stop praising the western world for their superiority while they keep degrading Africans.

This act by efcc is a complete move based on evidence gotten maybe from ally.

Goke7:
This is the king of foreign investment we are talking about not all those chop and run portfolio investors. One of the results of PMB's visit to china.

I hope some fellows will sleep well tonite!

Investors from Shaaxi Pharmaceutical Industry (China) have concluded arrangements to construct a $1 billion hi-tech pharmaceutical park.Getty Images
A group of investors from Shaaxi Pharmaceutical Industry Limited in the Republic of China have concluded arrangements to construct a $1 billion hi-tech pharmaceutical park, drug manufacturing facilities, health centre and hospital on a 1000 hectares of land located in Ogun Guangdong Free Trade Zone (FTZ).

This follows the signing of a Memorandum of Understanding (MoU) between the Ogun State government and Shaaxi Pharmaceutical Industry Company Limited last week.

Speaking during the inspection of Ogun Guangdong Free Trade Zone led by Waindu Multafu and Mohammed Umar, comptrollers of Ogun Area Command and Federal Operation Unit of Nigeria Customs Service (NIS) respectively, Tunji Giwa, customs officer in charge of the FTZ, said such an investment in the FTZ would prompt upsurge of revenue generation in the state.

John Xue, chief operation officer of Ogun Guangdong FTZ, described the $1 billion investment as the single biggest investment in the industrial park, which has hosted 50 manufacturing factories, 30 of which have employed 4,500 Nigerian workers.

Xue noted that the pharmaceutical facilities would acquire 1,000 hectares of land out of the total 10,000 hectares land size in Ogun Guangdong Free Trade Zone, having acquired the land for 99-year tenor from Ogun State government, adding that about 200 expatriates from China, Lebanon and India are currently working in the zone with an investment worth $400 million.

He further said that German BOSCH machines and tools manufacturing firm have also conducted visibility studies on Ogun Guangdong Free Trade Zone for the possibility of localisation of the German company in the zone as well as Guangdong Roofing Plant, stressing that the pharmaceutical products and consumables produced by the plant would expand drugs and pharmaceutical industry in the country.

He appealed to President Mohammadu Buhari-led Federal Government and Governor Ibikunle Amosun-led Ogun State to fix one of the most valuable industrial roads– Agbara-Igbesa-Atan-Ota expressway–to allow smooth and easy movement of raw materials and finished goods and services.

“I stand bold to surmise that Ogun Guangdong FTZ is one of the fastest growing zones in the country despite some teething challenges the zone is grappling with. Numberless containers have fallen along the road while coming to the zone. Our vehicles, on many occasions, have got stuck in the middle of the road often flooded with water and mud during rainy season.”

“This and sundry setbacks militate against the full utilisation of the opportunities/potential that the zone offers prospective investors,” the customs officer in charge of Ogun Guangdong Free Trade Zone (FTZ) said.

Waindu Multafu, comptroller, Ogun Area Command of Nigeria Customs Service (NIS), urged all investors operating in the Free Trade Zone, Igbesa, to respect all government policies that guide their operations, adding that the zone is established to engender smoother business relationship between the nation and China as well as other nations.

Mohammed Umar, comptroller, Federal Operation Unit (FOU), Nigeria Customs Service, said investors in the FTZ must be sincere in their operations by coming up with accurate calculations in terms of quantum of raw materials brought into the zone to help determine the rate and value of duties on products for export.

Umar expressed his displeasure at lack of respect to safety regulations in some of the industries in the zone, observing that some of the workers at the extrusion factories are not provided safety gear, thereby exposing them to the 100°C temperature which could cause health to the workers in future, adding all investors must strictly adhere to labour laws and safety regulations.

https://asokoinsight.com/news/investors-to-build-1-billion-pharmaceutical-facilities-in-ogun-ftz-nigeria

Almaiga:
Freeglobe, all you need to do to convince Nigerians about your SCAM Ugu export is this. Show a picture or Video of the Farm where $5m worth of UGU was harvested. Abi, is it to much to ask of the Video or Picture of your Multi million Naira Ugu farm, to proof your point?
The Video you upload is a Farm that is not worth morethan half a million Naira
I advise you to try harder to covince me next

Fanyogoyogo:
Where are the Osu Ijo Slaves Republic to come and tell us how they gathered together $1bn to develop the Lagos Rail.

kherington:
our youths are becoming unintelligent by the day instead of praising the state for not mortgaging it's future you are criticising the state for not borrowing money to embark on white elephant projects my question to you is what has those indebted states achieved with the money they borrowed has the loan changed the life of the ordinary man on the street a debtor is like a slave any day anytime Good morning nairalanders

wingman:
Yoruba and envy!
Tufiakwa! Your people are cursed.

Deepfreezer:
tell me ur state. Governors all over the federation knows governance in Anambra is worthy of emulation. No be hear say.

THE SUN SHALL FOREVER RISE FROM THE EAST.

Montaque:
What kind of post is this?
The communities you cited in lagos and Edo will start behaving like the ND militants once the companies start treating them like the IOC's are presently treating/degrading the ND.
Nobody hates investment, but those communities ve an existence before those mega companies, which will continue after the company makes their money and pack up.

Deatheater:
Ouch. Were you literally crying when you saw that anambra debt was that low or are you tried of ridiculing obiano. Anyway i can feel your pains from a thousand mile take heart and don't die young.

Joe4lv:
Let me analyse Anambra state debt for you to show you that in essence, Anambra isn't in debt.

the FG owes Anambra a backlog of 26b as monies used for federal road construction/repairs in the state and if you substract 3bn from 26bn you will find out that Anambra state is the only state floating above the debt ridden stance of Nigerian states.

I took my time to study the reasons why federal roads in most states are best to be addressed as 'death traps' and I realised the cause is more of federal govt than states. most of the state governors are willing to repair federal bad roads in their states and later FG reimburse then, even if it means borrowing to do so but let's do the maths and see why they don't.

you borrow 5bn to do road from a bank at an interest rate of let's say 23% per annum. called minister of works to value your proposal and approve you do it so later they pay you. you take the loan and after doing the road while the interest runs,FG didn't pay back in 5 years and guess what,you have succeeded in indebting your state even when you leave office.

this hinders development and I suggest all allocation to states be increased and all federal roads within a state be managed by state govt.

AmuDimkpa:
If you are going to continue behaving like a little kid who rejoices that his playmate's Akara balls fell down simply because he didn't have any, then, don't quote me again...
Until you grow up, BYE!

AmuDimkpa:
Which gaffe? How is it embarrassing? Even a blind man knows Obiano is working. This calculated attempt at destroying his reputation doesn't hold water.
His crime is that he is doing well , people are going home to invest and some people are not happy about it, he has to be destroyed and pulled down .
This cannot work . SR can continue playing their drum , we will not dance to it.

https://www.businesstodayng.com/wp-content/uploads/2016/07/FB_IMG_1469894703145.jpg


Babatunde Fashola Speaking to United Kingdom delegates.


With both countries currently facing peculiar challenges, Nigeria’s Power, Works and Housing Minister, Mr. Babatunde Fashola SAN, has canvassed a partnership between the United Kingdom and Nigeria that would ensure infrastructural growth and prosperity for both countries.

In a Keynote address with the theme, “Delivering Infrastructure: Lessons for Nigeria and the UK”, which he delivered at a Forum organised by the Nigeria Infrastructure Advisory Facility at the headquarters of Adam Smith International in London at the weekend, Fashola said such partnership with Nigeria “in a relationship of shared prosperity” could be a useful way for the United Kingdom in her quest for growth after Brexit.

The Minister, who analysed the socio-economic import of the historical relationship between the UK and Nigeria, recalled that the past relationships between the two countries, especially in the early 20th Century, had been mutually beneficial in terms of infrastructural development and trade partnerships adding that the economies of both countries had been the better for it.

Describing the long relationship between the two countries as Partnership that has worked in the past, Fashola advocated, “a re-engagement with Nigeria” recalling that in the early 20th Century, when Nigeria’s infrastructure was developed by the UK, up to the 1970s when we were the UK’s largest trading partner, the economy of that country prospered.

Emphasizing on the need for the re-engagement as a plausible option in the aftermath of Brexit, Fashola, who noted that the modality for such re-engagement lay in the realm of policy and economic choices for the people and government of the UK, however, declared, “In the early 20th Century, when our infrastructure was developed by the UK, up to the 1970s when we were the UK’s largest trading partner, how did the UK’s economy fare?

“In that period our inter-state Rail was built by the UK, but today China is building our inter-city Rail in spite of a language barrier. But how is the UK economy faring compared to China?”,he asked

The Minister, who noted that at the time the topic for the event organised by NIAF was chosen and the date was fixed, the EU referendum had not taken place, declared, “Now that it has and Brexit has occurred, my only recommendation is that in charting a way forward for renewed prosperity, UK must look back now to partnerships that worked in the past.

“The Nigerian market is bigger than what it was in the 20th Century but its needs are different and it is now a sovereign democracy”, he said .

On the importance of infrastructure to human survival and quality of life, Fashola, said the importance lay in the impact on their people adding, “Perhaps more than we have ever cared to talk about at the street level is the fact that it is infrastructure that determines our quality of life”.

“It is infrastructure that helps define how long and how well we live. It is definitive in the question of whether a child dies before five or lives up to 80 years. It is infrastructure that defines how long it takes to travel a fixed distance, in what comfort we do so, and at what cost to our disposable income”, he said adding that it also defines how far or how near a person has to look in order to acquire skills for survival.

According to the Minister, “It defines whether we are secure or insecure in our homes, communities, cities or countries. Infrastructure is certainly defining in whether natural disasters result in temporary displacement or snowball into a humanitarian disaster. Infrastructure is the big currency that no Central Bank prints but which all Financial Systems can support. Its sufficiency or dearth is a product of a choice between fiscal profligacy or fiscal prudence by a state”.

“[b]All of what I have said attempts to sum up the presence or absence of roads, bridges, hospitals and clinics, airports, seaports, ferry terminals, bus systems, bicycle lanes, traffic systems, Internet penetration, schools and universities, security apparatus, emergency response, drains, flood control systems, water supply, fire-fighting systems, telephone connectivity and, of course, electricity”, he said.

Fashola, who noted that as human civilization evolves, the quality, type and complexity of infrastructure it procures is defined by its personal aspiration, added that it is the quality of infrastructure at every stage of human development that separates the big nations from the small nations.

“But one thing is also certain; infrastructure ages, and needs to be renewed from time to time, just as it needs expansion to respond to the number of users as a result of a globally expanding population and urbanisation”, he said.

The Minister, who traced the cause of the “insufficient” and “aged” infrastructure in Nigeria, said at their most challenged stages, as described by a London tabloid recently, the Infrastructure in the UK was far better than what obtains in Nigeria.[/b]

He said except for Asia and a few European countries, that have managed to keep relatively smaller populations and are not migrant destinations, many of the world’s leading economies are struggling with aging infrastructure, the United Kingdom not excluded.

[b]Painting the picture of the state of Nigeria’s infrastructure, Fashola, who quoted the Times of London in its Editorial of Saturday July 23, 2016 titled ‘Build and They Will Come.’: which respectively referred to the UK roads, broadband, airport and railway networks as congested, patchy, deficient and dysfunctional, said even at their present states, he would describe them as better than the Nigerian equivalents.

He declared, “Now, I have used that ‘patchy’ broadband, the ‘deficient’ airport, and ‘dysfunctional’ railway, and, without patronising the UK people or government, or putting down my own country, I will trade our airport, broadband and most of the road service for the UK ones”, adding, “It is not that Nigeria lacks infrastructure, it is simply that it is insufficient and has aged”.

Hinging the insufficiency of infrastructure to inability of subsequent administrations since the 1970s to develop and expand the existing ones, Fashola noted, “Since the great construction boom of the 1970s, and the maintenance of the early 1990s under the Petroleum Trust Fund, managed by President Buhari in an ad-hoc capacity during a very dark political period in Nigeria, our population has grown much faster than our infrastructure”.

“For example, in Lagos, the two bridges built in the 1970s and the third one in 1991, which connect the Island and the Mainland, have not been added to, in spite of two oil booms between 1992 and 2013. Between the late 1970s when Jebba and Egbin Power Plants were built by the Buhari and Babangida governments, no major power plant was commenced until early 2000, a period of over a decade and a half. But during that period, our population exploded in leaps and bounds”, he said.

According to the Minister, while conducting an overview on how things got to the current situation, “What is in the immediate past, between 2010 and 2015, is that oil prices soared and exceeded $100 per barrel, and we earned about $215Billion in that period. Today, we face challenging economic times. We have suffered consecutive negative growth and are economically experiencing a recession”.

The Minister said the reason for the economic recession in the country was as a result of the profligate fiscal policy between 2010 and 2015, when Nigeria not only under-budgeted (N4 trillion) in the face of deficient infrastructure, but also compounded it “by providing 15 per cent for capital expenditure, which was under-funded” and 85 per cent for recurrent, which it “adequately funded”.

He added, “If infrastructure drives growth as we have experienced from the Great Depression and the Marshal Plan, and lately fiscal stimulus in recent years, today’s economic recession is the result of yesterday’s policies”, adding that “The Buhari government knows the cause and has designed the proper solution: fiscal stimulus and capital spending”.

According to the Minister, “Sometime in March 2015, a little over a year ago, before the Buhari Government, a snap survey of four construction companies which I conducted revealed that they had laid off 5, 150 workers because Government was not paying these construction companies for work done”.[/b]

“Since my assumption of office, in the Ministry of Power, Works and Housing, meetings with contractors in power, works and housing reveal that contractors have been owed 2-3 years. These are the seeds of Recession, planted and nurtured between 2013 and 2014”, he said.

The Minister further emphasized, “So, from N4 Trillion average budget in a time of plenty, this administration sets an ambitious N6 trillion with a 30 per cent capex. It pays serious attention to its budget as the article of faith that defines its commitment”, adding that since the 2016 budget was passed, construction companies that had demobilised from their sites and laid off workers due to lack of payment since 2014, had been re-mobilising to rail, road, power and other construction sites, and recalling workers.

He declared, “Since the budget was passed in May, 70 construction companies got paid N63.169 Billion for Q1 works alone”, adding, “The response is that in the last few weeks since budget was passed, construction companies that had demobilised from their sites and laid off workers due to lack of payment since 2014, are re-mobilising to rail, road, power and other construction sites, and recalling workers”. He cited the Kaduna-Abuja Rail project, which was commissioned but never ran in the past Government, which was opened to public service on 26 July by the new Administration as an example.

Describing the development as “the first signs of productivity that signal a clear pathway out of recession”, the Minister added, “Although results take time to manifest, Nigeria has chosen an appropriate pathway out of economic difficulty. We will recover from this recession period and also deliver new infrastructure and upgrade aging ones.

The Minister thanked the organizers for inviting him and also DFID and NIAF for the support they have provided to Nigeria in the area of capacity building and reform for infrastructure noting that the biggest lesson that humanity could glean about infrastructure generally was the impact on their lives. “The man on the street must be connected to it and understand it”, he said.

The well received Keynote address, prefaced by an introduction of the speaker by former Secretary of State for Transport, Sir Malcolm Rifkind, was followed by a Panel Discussion comprising the Academy Director , UK Major Projects Leadership Academy, Dr Paul Chapman , the Managing Director , Azura Power, Nigeria, Dr David Ladipo and Chief Executive Officer of BBOXX UK, Mr Mansoor Hamayun . The event which was attended by the Deputy Chief of Staff to the President, Mr Adeola Ipaye also featured a robust Question and Answer Session with full participation from the cross section of the audience comprising prominent Nigerian professionals, diplomats, entrepreneurs, British investors and the media.




http://www.businesstodayng.com/delivering-infrastructure-fashola-canvasses-uk-nigeria-partnership/

fcvklies:
AIR-HEAD you obviously have never stepped foot in Anambra State... asking for photos of farm. And you have over a hundred ignoramuses liking that!

Adminisher:
So many responses missing the pount.

First of all Nigerians have been exporting at least [b]500million US dollars of vegetables and food stuff to Europe, Canada and Asia annually for years before Obiano became governor.

We probably did as much as 800 million USD this year already. Go to London, New York, Calgary, Toronto.[/b]

The issue is here that the gist of the State's earlier publicity on the issue was wrong. They lied and they should have come out clean to clarify in three simple sentences instead of this long epistle which was saying just the same thing. Anambra state did not export 5 million dollars worth of vege tables to Europe during the term of this and the last administration. NOT YET.

Obiano is in my view already the best governor in Nigeria. No need to spoil a good thing by overzealous aides exaggerating and reporting speculatively

Oil: US$94,882,576,000 (96.9% of total exports)
Cocoa: $705,644,000 (0.7%)
Oil seed: $278,420,000 (0.3%)
Raw hides excluding furskins: $268,513,000 (0.3%)
Ships, boats: $213,441,000 (0.2%)
Copper: $174,174,000 (0.2%)
Rubber: $166,288,000 (0.2%)
Aluminum: $157,045,000 (0.2%)
Ores, slag, ash: $137,092,000 (0.1%)
Wood: $101,382,000 (0.1%)


http://www.worldstopexports.com/nigerias-top-10-exports/