₦airaland Forum

The power minister assured disengaged electricity workers of their pay.

The Federal Government has provided a grant of $750
million (N120 billion) to the Nigerian Bulk Electricity
Trading Company, NBET, President Goodluck Jonathan said on Monday in Abuja.

Mr. Jonathan said this while performing the handing over of share certificates and licenses to the 15 new core investors of the successor companies of the Power Holding Company of Nigeria, PHCN. He said the fund is aimed at positioning the ‘bulk buyer’ to carry out its post privatization mandate without financial constraints.

Incorporated in 2010, the NBET is to “engage in the
purchase and resale of electrical power and ancillary
services from independent power producers and from the
successor generation companies,” according to its website.

Mr. Jonathan said the new owners of the five generating
companies were inheriting signed gas supply and
transportation agreements. He added that the government would maintain the agreed gas supply pricing policy in order to encourage new investments in gas supply and infrastructure development

“The implementation of the gas policy will culminate in a
willing buyer-willing seller structure to establish a full
market- driven environment” he said.

The five power generating companies whose shares
certificates were handed over to new owners are Geregu,
Ughelli, Kainji, Shiroro and Egbin Power Plc; while ten
distribution companies were also handed over and include Abuja, Benin, Lagos (Eko), Ibadan, Lagos (Ikeja), Jos, Kano,Port Harcourt, Enugu and Yola distribution companies.

The National Council on Privatisation, NCP, had earlier
approved winners of the power companies as follows:
Abuja Distribution Company: KANN Consortium Utility
Company Ltd; Benin Distribution Company: Vigeo Power
Consortium; Eko Distribution Company: West Power & Gas;Enugu Distribution Company: Interstate Electrics Ltd;
Ibadan Distribution Company: Integrated Energy
Distribution & Marketing Ltd; Ikeja Distribution Company:
New Electricity Distribution Company (NEDC)/KEPCO, Vigeo Power; Jos Distribution Company: Aura Energy Ltd; Kano Distribution Company: Sahelian Power SPV Ltd; Port
Harcourt Distribution Company: 4Power Consortium; and
Yola Distribution Company: Integrated Energy Distribution
company.

The president also said the two hydro power plants, Kainji
and Shiroro, are to be concessioned.

He also announced that the processing of paper work for
the Kaduna distribution company and the Afam generating company was near completion and will soon be handed over to their new owners; while that of Sapele awaits the settlement of legal issues which has entangled the sale of the company.

Reminding the new owners of the companies that work is
not over, Mr. Jonathan said, “We do not expect the sector
to be revitalized overnight, but we can all look forward to a better time very soon as we have seen in the Telecommunication and banking sector.

“I congratulate our new owners who have taken over the
engines and cables that are expected to drive not just the
electricity industry, but also the socio- economic well being of the nation”.

The Minister of Power, Chinedu Nebo, in his speech said
the power ministry has repositioned itself to ensure that
there are sustained efforts towards ensuring that the
current privatization program was successful.

Speaking on the disengaged power sector workers, Mr.
Nebo said out of the 47,614 workers identified,
government has completed biometric capture of 45,156 of them. He added that “payment of severance and pension will continue through the month of October.

“I want to assure you that the Ministry has positioned itself toward providing effective overall leadership for the sector and facilitating investments with special attention on the development of the national grid, Greenfield IPP,
Renewable Energy and Rural access to Electrification”.

Sani Bello, who spoke on behalf of the new owners,
assured government that the new companies will work
hard to ensure stable power to Nigerians, so that they too
can make their profits.

“I will like to assure the President that we shall not fail,” he said.

eGuerrilla: Now you've lost me. You like Nationalists? Are you one yourself?

eGuerrilla: Better mind your language when addressing me.

eGuerrilla: The paid hireling did not disappoint as usual. If you've got a problem with Osundefender, take it with that group.

My post is clear enough for anyone with basic comprehension skills.

eGuerrilla: Indeed. But why draw my attention to what I already know?

If you read my original post again, you will note that it is specifically aimed at addressing the issue of a photoshoped image and nothing more.

Why are the standards of discourse on NL so low? A reflection of our impoverished education system?

eGuerrilla: Did you read the original article before it was retracted and republished? Of course not.



Source: http://www.independent.co.uk/news/world/middle-east/yours-for-up-to-50000-the-real-gold-iphone-5s-outshining-apples-new-release-8807520.html

eGuerrilla: And I suppose the reason we've failed to reach our projected target is because of some natural disaster, right? An earthquake perhaps?

Listen, when all is said and done, neutral observers know that oil theft is symptomatic of a corrupt system, supervised by none other than the Petroleum minister. Even the President knows this much.



Source: NG Tribune

eGuerrilla: While debunking the debunkable, you need to be mindful that the original article was published by a UK based newspaper.

It is actually not as uncommon, as you think, for images embedded in a syndicated news report to be altered (for effect), as it passes from one web portal to another. In my opinion, it is the sort of embellishment which sometimes leaves much to to be desired.

Caleboha: Nigerians celebrate mediocrity. We hold tribal and religious affiliation dear. Many of southern extraction believe he did excellently even though they know deep within them that they exude more confidence, poise and intelligence than their commander in chief. They give him no room for improvement as they insist he is excellent despite obvious lapses. I miss OBJ. It was swt fun bk then. I held no fears of my president embarrassing me on national TV

Rossikk: Wow... and there I was, thinking they were still in the contract signing stage!! This country is moving so fast even for some of us economy watchers, how much more the 'docile' public!!

ketoprofen: no, on NTA, last wk

Hajiya Ladi Maladi, a woman rice farmer who cultivated one hectare of rice, takes care of 23 orphans. From the harvest of her rice farm, she was able to build herself a house,which she is so proud of. Large-scale commercial rice producers are also expanding the production of rice locally.


Dominion Farms, a foreign investor, has invested $40
million in a commercial rice farm in Taraba State and its
rice will hit the market in 2014.Dominion Farms,a 30,000
ha field, including community out-grower farms, will
become the largest rice farm in Africa. Olam has expanded its rice cultivation by 10,000 ha, in response to the policy incentives by the government.

Yet, as our farmers rejoiced, the rice importers launched a
massive offensive, to reject their achievements, ignore the reality of massive local rice production, while clamoring to be given waivers – yet again – to bring in 15-year old rice from India and Thailand. I read a newspaper article by the Guardian, that they could not find local rice in Lagos. I was not surprised. The local mindset is that what is ‘local rice’ is ‘inferior’ rice, with stones and unsavory odor.

We have moved beyond this within the last two years. In
response to government policy and incentives for rice, 14 large-scale integrated rice mills were established by the
private sector in two years, producing international quality long-grained parboiled rice. Well-packaged, long grained parboiled local rice, from Kano (Umza rice),Ebonyi (Ebony rice), Benue State (Mikap rice) are on the market; and they are tastier and healthier than imported rice which are often 15 years old rice dumped on the Nigerian market.

What the writer in Guardian did not realize was that there
was local rice in Lagos! It was just different from what he
was expecting to be local. The true story the journalist
missed was that the Lagos State Government bought
seventeen trailer loads of paddy rice from Kebbi state,
moved them down to Lagos to mill in the rice mill set up by the Lagos state government. Just imagine: two states of Nigeria trading in rice paddy, produced locally, and milling the rice, instead of importing brown rice from Thailand and India. As the paddy rice moved from the lush paddy fields in Kebbi to Lagos, several more jobs were created – stimulating local economy and getting our youth off the endangered list of the unemployed. Lagos state sells the milled rice as ‘Eko rice’.

nku5: @OP - this is the kano to lagos train about to leave minna station at about 7.30 am. The train from what I heard, arrives and leaves like clockwork. I was surprised because all we have heard is that nothing is being done etc. Honestly I think nigerians are just used to bad news. No one bothers to check.

ketoprofen: i watched d documentary on Abakiliki rice processing plants and i was thrilled

lloydtruth: i hope this private sector won't bring their greedy moves into the power sector.

otokx: Labaran should explain why salaries of non teaching university staff are unpaid since August.

Vice President Namadi Sambo has announced
plans to handover the Power Holding Company of Nigeria (PHCN) to successor companies by Monday 30th Setember next week.

The Vice President who spoke at a meeting on
power sector reforms in Abuja also announced that
outstanding payments of pensions and gratuities of
workers of the defunct PHCN have been cleared.


He said the Federal Government plans to generate
a total of 10,000 megawatts of electricity before the
end of 2014 and 20,000 megawatts before the end
of 2016.

Financial experts, top government officials and
major players in the power sector attended the
forum to take stock of achievements, challenges
and prospects of the nation’s power sector and also
to celebrate the role of commercial banks in the
provision of support to the federal government’s
reform agenda to the power sector.

Vice President,Namadi Sambo listed some of the
challenges that must be tackled to achieve the
needed development in the sector ,one of which is
the handing over of successor companies to
investors for better output.

The CBN Governor, Lamido Sanusi also highlighted
major contributions of commercial banks to the
power sector, and according to him, over $2 billion
has been committed to the federal government’s
privatisation of the sector.


While a lot has also been done by government for
the provision of over 6 million meters which is to be
installed across the country, the chairman of the
technical committee of the national council on
privatisation, Atedo Peterside was of the view that
building a synergy between government and
members of the private sector is key to achieving
more success.

Nigeria’s agricultural transformation agenda is set for a
major boost with the coming on stream of Quarra Rice Mill, one of the country’s largest rice processing mills, to meet the rapidly growing domestic rice demand.

The mill, which has an annual capacity of 30,000 tons of
paddy rice, is operated by Quarra Rice Limited, which
expects to process 150,000 tons per year by 2018.
Located in Tsaragi, Kwara State, within a 100-kilometre
radius of Nigeria’s most fertile rice growing territory, the
mill’s output of parboiled rice and rice flour will be sold
domestically to help alleviate food security concerns and
substitute for expensive imports.

The United States Department of Agriculture estimated
level of import of rice in Nigeria is 2.7 million tons of rice
per annum. Nigeria produces 2.85 tons of milled rice and
4.524 million tons of paddy rice per year.

Quarra Rice Limited’s target output quantity accounts for
around 3.6 percent of the nation’s yearly rice imports as it is uniquely positioned to drive higher productivity and
serve as an example of commercially successful yet
sustainable agricultural investment in Nigeria.

Abdulfatah Ahmed, Kwara State governor, at the
commissioning of the mill on Thursday, said it was
alarming that Nigeria continued to spend about $2 billion
annually on importation of roughly 2 million metric tons of
rice, wasting scarce foreign exchange and stunting growth of local agriculture, while accelerating the growth of foreign economies.

He noted that the Quarra rice mill would contribute
towards meeting local demand for rice in the country and
further deepen the depth of commercial agriculture.

“While the Federal Government is doing a lot to grow
commercial agriculture in Nigeria, more still needs to be
done to local agribusinesses such as Quarra rice to boost
food security,” he said, adding that structured and
carefully planned agricultural reforms are very critical.

While noting that the bane of agricultural development in
the country is the complete disconnect between the
farmers and utilisers of agriculture produce, the governor
said that only through structured commercial farming can
the country adequately feed the people and guarantee
their economic prosperity.

According to Adewunmi Adesina, minister of agriculture
and rural development, at the event, 9 million metric tons
of food was added in 2012/2013 to the nation’s domestic
food supply, which is 80 percent higher than the annual
target of 5 million metric tons that had been set.

“Food imports declined by N857 billion by the end of 2012; for example, the nation’s import bill for wheat, rice and sugar was down by $3 billion in 2012. Agric exports
expanded by 822,000 metric tons in 2012, as the sector’s contribution to non-oil exports expanded by N759 billion,” said Adesina, who was represented by Ike Azogu, executive director of National Centre for Agricultural Mechanisation.

awodman: Expansion of the initial infrastructure and the decision of
the Ministry of Aviation to upgrade the facilities have been
linked to delay in the completion of remodelling work at
the Port Harcourt International Airport, Omagwa, Rivers
State.

However, Inter Bau, the contractor handling the project,
said the international terminal of the airport was over 90
per cent completed while massive work was going on at
the domestic terminal and would take shape soon


Also, the Chinese Civil Engineering Construction Company (CCECC) has started work on the modern international terminal at the airport in accordance to the loan agreement signed between the Federal Government and the Chinese government, where Chinese Exim Bank offered a loan of $500 million for the construction of ultra-modern terminals at Nigeria’s four major airports- Lagos, Port Harcourt, Abuja and Kano.

On the level of work done at the Port Harcourt airport, the
architect in charge of the project, Chinagozim Amanze said since the construction work started, it had never stopped.

The architect explained that the scope of work was
expanded from the initial plan to renovate the airport to
total upgrade with the expansion of facilities, deployment
of modern equipment and architectural design.

“The first phase, which is the international terminal is
about 95 per cent completed because all facilities are in
place and they have been empowered. The mechanical
facilities are working. So the first phase is 95 per cent
completed. What is left is a few touch ups and clean ups.
Then on the second phase (domestic terminal) we are on
demolition work. The wet works are about 60 per cent
completed. We have done the roof slab up to the end. We
have done the columns to carry the rafters. The rafters are already on ground. On demolition work, we are about 80 per cent completed, we are carting away debris and what is left is an existing slab on the demolition work. So after demolition work by this week we hope to start the final wet work that is about 30 per cent left,” he said.

On the level of work being done, Amanze said, “This is
more than renovation. It is an upgrade. A facility that is on ground is being upgraded in terms of passenger capacity,in terms of capacity on ground. When we came in, we had to start our work and the few challenges we faced include the fact that the airport is operational while work is going on in it.”

The new features at the airport when completed would
include more capacity. While the old one had 700
passenger capacity, the new terminal will facilitate about
1500 passengers at the same time.

ba7man: The last Global Recession forced International Investors to sit-up and take notice of how Developing economies performed during it.....that was back in 2009 so you see the Nigerian Economy was already witnessing and upturn before G.E.J became president.

Nigeria was one of the Countries that was largely unaffected and it also had a booming population. They continually harped on how Nigeria was one of the next investment destinations in various Economic reports on CNN back then. It was also all over foreign Economic magazines too.

They also bemoaned the fact that China was the first to move in on Nigeria and the African Economy in their bid for Global Economic domination to strengthen theirs.

The Chinese were more agressive in their Economic push so while other Global investors were still debating and observing the Nigerian insecurity situation and epilleptic power supply, the chinese move in quickly.

If Guru Maharaji or Godogodo the Armed robber had ended up president, these investors would still have come. It has more to do with the individual awakening of the Average Nigerian to global ideas, not one G.E.J's policy.

Who would have ever thought a profession like Public speaking" would create an industry that would generate Millions?? Or ordinary Tying of Gele would serve as a source of income generation?? The spirit of Entrepreneurship is taking over Nigeria and you can now find Nigerians as young as 19-20 creating jobs for themselves and their friends.

Was with a friend's 21 year old sister yesterday and she was showing me Beads she bought from a fellow 21yr old girl that makes them for N6000. A group of 19 year old girls i know put their pocket monies together and started a fashion line, making outfits for their friends, parents and their friends. They are making more money now than a lot of people.

I have a friend that works during the week and covers Weddings and events through photography during weekends. He makes an average of N150,000 every weekend.

I have tonnes of examples of Nigerians that schooled abroad and those living in diaspora and were forced back home due to the Recession. They came home with smart ideas, implimented them and are currently making money. They came home with more progressive ideas forcing the home grown Entrepreneurs to step-up their game through research and increased innovation and this has given rise to Competition.


These are the kinds of people leading the Economic revolution in Nigeria. Go to Daystar Church and see how Economic Empowerment informations are been shared. My own Church organizes an Entrepreneurship Wednesday service once a month in which all we discuss is Business principles, Ideas and their implimentation.

Truely, Nigeria's Economy is on an upward march but I'll prefer to give credit to the Nigerian Citizens that have decided to take their own lives in their hands........Not one obscure F.G Policy.

We need to learn to see the big picture......Have a global view.

ba7man: No investor/Manufacturer will ignore a market base of 160 million people. Its common sense.

That's was what attracted them, not what G.E.J told them.

theoctopus: President Jonathan has committed to building on the democratic process that we've seen in Nigeria in the past. The last election that brought President Jonathan to power was a hallmark on the continent and in Nigeria in terms of free and fair elections. And I know that he is committed to making sure that the elections in 2015 move in that same fashion.

idumuose: That's a very good news coming from the SSS. mike Ozhekome
where are Ɣ☺u?Oya come and ask the FG to grant Kelvin
amnesty and compensate him.

caseless: See this 'lilly-hearted' human right lawyer trynna chicken out. My friend, brace up and fight like a man.
U think politics is jst about commenting on any national issue as a lawyer, criticizing successive govt in nigeria? Com'on, it is bigger than that. Stay and fight cos if u cant stand the heat, dont enter the kitchen.

Sincere 9gerian: I'm currently watching a Glo Nigeria Premier League football on Super Sports. The match is between Enyimba and Akwa United at Aba Stadium. Sincerely speaking, the Aba pitch appears to be best maintained natural grass pitch in Nigeria (outside the recently re-grassed Abuja Stadium). I'm really impressed with what I'm seeing.

I've not gone into the streets to look at other things but a govt that gets some of these little things right may not be as bad as some critics want us to believe.