₦airaland Forum

FP!

rozayx5: hmmm, this beats Oriental, though the Japanese Restaurant on the 4th floor looks cool

Definitely the best looking hotel in Nigeria right now!

What am even happy about is the amount of foreign and local investments springing up in Nigeria nowadays....its becoming massive, and it sure comes with plenty jobs for the alarming unemployed we have in nigeria

Na money kill am!

Excellent finishing

More interior

interior

More

As the Intercontinental Hotel Group (IHG) the foremost American hotel chain, opens its flagship hotel outlet in Nigeria, Lagos hospitality market would be boosted with additional 358 luxury rooms, five-star services and products, and influx of skilled hospitality manpower.

Apart from changing the Lagos skyline, the multibillion naira 23-storey five-star hotel building, which is the tallest hospitality property in Nigeria, will cater for a steadily increasing number of business travellers arriving in Nigeria, as the country goes through a period of renewed investment in its infrastructure.

The development, which is centrally located on Victoria Island, according to Didier Coeln, the general manager, is a clear reflection of InterContinental Hotel Group’s confidence in Lagos, a city that is seen as a thriving commercial hub of West Africa.

However, rooms are from $500 per night, but the rates, according to Silvia Jurecka, director of sales & marketing of the hotel, are flexible depending on the volume of business, number of guests and other offerings guests are willing to buy into.

Facilities in the hotel include 358 rooms and suites made up of 246 standard rooms, 30 twin rooms, 17 large corner king rooms, 17 corner 1 bed room suites, 14 one bedroom end suites, 4 Club floor junior suites, 2 large 1 Bedroom suites (Club floors), 1 Presidential suite, 55 suites and larger rooms in total, 4 club floors with 72 club floor rooms and suites.

http://businessdaynigeria.com/intercontinental-group-ushers-358-rooms-lagos-hospitality-market

zig2ryme04: its actually 43 not 25

Re-Read the post again and do the maths well!

eko ilee: Silly question. You are assuming they know how to build bridge or do anything . The fact is, toll or no toll I don't care, just build infrastructures and make our lives better which so far the useless and worthless PDP don't know how to do.

This bridge was built in less than four years while the useless people are still in capable of building a shorter village Niger bridge after 14 years rule.

Dont you think if you keep repeating one silly joke peeps will start scrolling past your post once they see ur name!

Its now sounding childish and lame, pls find another joke!

MARK-REN:
@ bloggernaija you are speaking from both side of your mouth. @9gerian made his point aptly.....

There is no difference between toll gates as presented by LSSG and the removal of fuel subsidy as presented by PDP as they are both aimed at generating revenue for so called infastructure. ACN should not call us for protests when it suits them to "fight for the poor".

Well said!

Dont be surprise when the ACN people start organizing protest rally at ojota if after FG reconstruct and maybe toll the lagos ibadan expressway......when all these opposition people say they are fighting for the masses while criticizing GEJ i laugh! they are just using the gullible to seek for power.

Eko Ile: They are all lazy, incompetent and disabled so I see them waiting for another 30 years...... Bambiala people..


lmoa..

This ur old boring song of we begging! If we leave lagos for u with all our investment, month no go even end and ur govt will be running to abuja for monthly alawee!

Na because we sustain lagos state govt with our business taxes u hav mouth to talk! Don't provoke ibos to take all their investments home! U will never knw wat u got till u loose it!

ba7man: You want fine infrastructure and you don't want to pay for it?? In this Country?? That's why some wait on the FG, i get it now.....U go wait tire.

Mumu u hav already paid for it!! That's if u are old enough or employed to be paying tax, cause I can see u are jobless or still in being spoon fed by ur parents

US govt can never use tax payers money to build a bridge and still toll it again! They will only allow a toll on a road if it was constructed on a concessionaire basis to recoup investment!

Eko Ile: This looks so so better than many in Yankee gan sef.. Eko o ni baje o.

Foolish human being! Celebrating slavery.....one day ur master will also tax you for sleeping with ur wife!

Nigeria economy is booming, Capital market is almost at 2008 highest level,lots of investment are coming into the country in quantum, jobs are being created,lots of billionaires and millionaires are coming up everyday,......inflation single digit,foreign reserve 50 billion dollars,companies yearly results very impressive,

Investments in agriculture,ICT,manufacturing,power sector,have never being this high in nigeria history, and it will soon start trickling down to the masses in massive job opportunities and empowerment.....all these achieved in the worst security situation nigeria has ever been since the civil war! Imagine what it will be when security and power issue is resolved??

And they say GeJ govt is the worst since independence!!?

Nigerian billionaire and Africa’s richest man Aliko Dangote has become the first African entrepreneur to lay claim to a $20 billion fortune as the stock value of his largest holding, Dangote Cement, leaped just about three-fourths since March when Forbes released its annual ranking of the world’s richest people

Aliko Dangote’s 93% stake in the cement company is now worth $19.5 billion. 

Add this to his controlling stakes in other publicly-listed companies like Dangote Sugar and National Salt Company of Nigeria and his significant shareholdings in other blue-chips like Zenith Bank, UBA Group and Dangote Flour; his extensive real estate portfolio, jets, yachts and current cash position, which includes more than $300 million in recently awarded Dangote Cement dividends, Dangote is now worth more than $20 billion.

Put into context, the Nigerian billionaire is now among the top 25 richest people in the world, richer than Russia’s richest man, Alisher Usmanov, richer than India’s Lakshmi Mittal and running neck and neck with India’s Mukesh Ambani. He is catching up to such Americans as Google’s billionaire founders Larry Page and Sergey Brin.

The unprecedented surge in Dangote Cement’s share price is largely a market response to the company’s impressive 2013 Q1 results.

The cement manufacturer’s unaudited results for the three months ending March 31 showed that the company’s pre-tax profit rose to $339 million, representing an 80.6% increase from last year and a strong indicator of the company’s future earning potential. The results also indicate a 79.5 % rise in its earnings per share over the corresponding period last year.

Explaining the company’s share price boost in an email to Forbes, Carl Franklin, Dangote Cement’s Head of Investor Relations in the U.K said that in the first quarter of 2013, the company had a huge increase in demand across Nigeria, gas supply improved considerably and the capacity was much more ramped up.

“So Q1 was the first sign of just how profitable we can be in Nigeria. The amazing thing is that 66% of our gas-fired production in Q1 was done at 84% gas. Imagine what would happen to margins if we did the same amount at 95%. This has given investors a good sense of what we can really do when everything goes in the right direction,” Franklin said.

With a current market cap of $20.5 billion, Dangote Cement becomes the first Nigerian company to achieve a market capitalization of over $20 billion.

“It’s certainly a landmark for a Nigerian company and we’re proud to be the first to achieve it. Obviously we are focusing on building long-term and sustainable value for shareholders through our investments in Nigeria and Africa. Nigeria is a very entrepreneurial country and I can assure you that other companies will follow us in achieving this.”

Other companies might eventually achieve this, but it’s going to take a bit of time. Dangote Cement currently accounts for more than a quarter of the total market capitalization of the Nigerian Stock Exchange. The second largest company on the Nigerian Stock Exchange (NSE) is currently Nigerian Breweries, West Africa’s largest manufacturer of Alcoholic and non-alcoholic beverages. The company has a market cap of $8.5 billion.

Dangote debuted on the FORBES billionaires list in 2008 with a fortune we pegged at $3.3 billion. His fortune dropped to $2.5 billion in 2009 and plunged further to $2.1 billion in 2010. His fortune surged  557% in 2011 to $13.8 billion after he took Dangote Cement public. He dropped to $11.2 billion in last year’s rankings, but rebounded at $16.1 billion this year. Since March, his fortune has jumped another 30%.

Dangote was destined to shine in business. At age 8, he apparently gave packets of sweets he had made to the house servants to sell for him. His father Mohammed Dangote was a successful businessman and an associate of his maternal uncle Alhaji Sanusi Dantata. Dantata and his brother controlled the trade in kola nuts and livestock conducted by 200 agents. Dangote started building his fortune over three decades ago after taking a loan from Sanusi Dantata. He started trading in commodities like flour, sugar and cement.

He became a billionaire by later manufacturing these items. He started making pasta, salt, sugar and flour in 1997. But he found his gold mine in cement, when he was awarded a government’s state owned cement business in 2000 and began building his own plant in 2003. He listed Dangote Cement in 2010.

Today, it is Africa’s largest cement company providing cement to Nigeria and other African countries that otherwise would likely have to pay to import much of the materials.

Dangote still likely has bigger ambitions. He told Forbes Wealth Editor Luisa Kroll at Davos in 2011 that he expected his firm to have a market cap of $60 billion within five years. At $20.5 billion, Dangote Cement still has a long way to go to live up to that dream, and while it is quite unlikely that Dangote Cement could hit a $60 billion Market Cap by 2016, don’t write it off as ‘impossible’. With Dangote, you never know.


http://www.forbes.com/sites/mfonobongnsehe/2013/06/01/aliko-dangote-is-africas-first-20-billion-man/

The story of road development will never be told in Nigeria without giving special credit to President Goodluck Jonathan’s administration. He, not only put road infrastructure at the front burner for economic acceleration, but also harnessed some of the finest human resources to initiate viable reforms for the sector.

These milestones by Federal Government are however prompted by the fact that the importance of good roads can never be over-emphasized to any nation. Chairman of the ruling Peoples’ Democratic Party, PDP, Alhaji Bamanga Tukur giving credence to this noted some time ago that roads are like arteries which carry blood to all parts of the human body, same way roads convey economic activities to all parts of the country. So, these roads are essentially required to be in good condition always for good economy to flourish.



The spirited determination in driving repairs of many of the nation’s decaying roads in the past two years is obviously what has resulted in the busy nature of many project sites across the country. For those that quickly forget the past (many do anyway), the deplorable conditions of Benin-Ore-Sagamu expressway and the Enugu-Port Harcourt expressway, before now,were part of what amplified the clamour for the declaration of state of emergency on the nation’s roads.

The perennial failed spots at Ore axis which troubled that road for many years deteriorated to such a gory sight that motorists had to abandon the road and meandered through bush-paths. Armed robbers feasted on many of them at will. The journey from Lagos to Benin which ordinarily took three and half hours suddenly became nine hours or more.On Enugu-Port Harcourt highway, vehicles sometimes got sub-merged in deep potholes that once littered the expressway.

Following the political will from President Jonathan and not any state of emergency, the Federal Ministry of Works under the leadership of Arc Mike Onolememen gave these roads and many others astonishing succour. Motorists who used the Benin-Ore-Sagamu expressway, the Enugu-Port Harcourt Highway and many other highways have been short of words in lauding government’sintervention which some have equally described as a dose of ‘fresh air’in the road sector.

Since road developments are tangible for all to see, Nigerians based on what they have seen have appreciated efforts at improving all the nation’s major road corridors. Impressive records have been achieved on the dualization of Abuja-Abaji-Lokoja road in FCT and KogiState and the dualization of Kano-Maiduguri road in Kano, Jigawa, Bauchi, Yobe and BornoStates. As at 2011, these roads awarded in 2006, were already wearing the garb of abandoned projects. Because of the drive to have unbroken dual carriageway across the six geopolitical zones, Arc Onolememen gave the fillip for value-added work on them.

Works have also started on the dualization of Lokoja-Okene-Benin road alignment in Kogi and EdoStates,which is described as the ‘missing link’ in the comity of dual carriageways in the six geopolitical zones. It is hoped that in the next two years, Nigerians will be able to drive from Maiduguri to Lagos on an unbroken chain of dual carriage ways through Kano, Kaduna, Abuja, Lokoja, Okene, Auchi, Benin and Sagamu to Lagos. It is the same from Kaduna through Abuja, Lokoja, Benin, Asaba, Onitsha, Enugu to Port-Harcourt!

A critical section of the Apapa-Oshodi Expressway, from Ijesha-Beachland Estate in Lagos State is now wearing new looks and the Trailers’ Park, intended to keep over 400 trucks out of Lagos roads is nearing completion.

There is also the ongoing works on Loko-OwetoBridge, over River Benue with approach roads in Nasarawa and BenueStates and the dualization of Suleija-Minna Road in NigerState.

Apart from these, a record of 32 other roads have been completed in the past two years. Among them is the dualization of the Section I of Ibadan-Ilorin road, (from Ibadan to Oyo), repairs of Third Mainland Bridge (Phase Two) which was completed 10 days ahead of the scheduled date, Otta-Owode road in Ogun State, old Oyo-Ogbomoso road in Oyo State, Omuo-Ifaki road in Ekiti State, reconstruction of the Lafenwa Bridge in Ogun State, Gbogan-Iwo road in Oyo State, Ijebu Igbo-Ajegunle-Araromi-Ife-Sekona road in Ogun State and Rumukurshi-Chokocho road in Cross River State.

The Ministry has also rehabilitated the Uba-Mbalala road in Borno State, reconstructed and commissioned the Vom-Manchok road in Plateau State,repaired the Funtua-Gusau-Sokoto road (from Gusau to Talata Mafara) in Zamfara and Sokoto States, Katsina-Daura road in Katsina State, Anka-Daki-Takwas-Gummi road in Zamfara State, Langtang-Lalin-Tunkus-Shendam road in Plateau State, Numan-Gombe road in Adamawa and Gombe States, Mararaba-Pambeguwa road in Kaduna State, Jebba-Lafiaji road in Niger State, Takai-Albasu-Gaya road in Kano State, Nafada-Gombe Abba Road in Gombe State and Hong-Mubi road in Adamawa State.

The dualization of Onitsha-Owerri road with Onitsha Eastern bypass, in AnambraState was also accomplished by this administration. Other newly completed roads such as the Obiozara-Uburu-Ishiagu road in Enugu and EbonyiStates, the Abakaliki-Mbok (Ogoja Junction) road in Ebonyi and CrossRiverStates, Owerri-Aba Road in Imo and Abia States, Okpala-Igwurita road in ImoState and Ikom-Mfum Road in CrossRiverState are great landmarks in the history of road development in Nigeria.

The Ministry has also done very well in responding to wash-outs and gully erosions that have eaten up many federal roads in the recent past. Three wash-outs along Onitsha-Enugu dual carriageway in Anambra and EnuguStates, the collapsed sections of Wukari-Mutum Biyu road in TarabaState,wash-outs on Gombe-Potiskum road in GombeState and the massive gully erosion that cut off the Okene-Benin roadin Auchi, EdoState were all reinstated in record times.

Flooding occasioned by global warming also had adverse effect on many roads and the Ministry quickly intervened to bring succour on the Kano-Katsina road in KatsinaState, Enugu-Port Harcourt Dual Carriageway in EnuguState, the Yenegoa-Kolo-Nembe-Brass road in BayelsaState, Shendam-Yelwa-Ibiroad and Langtang-Lalin-Tunkus-Shendam road, both in PlateauState.

Part of the transformational agenda is to link all economic centres with good roads. As a result, the ministry completed the rehabilitation of access road to Kaduna Refinery in KadunaState, access road to Warri Refinery in DeltaState and the access Road to OnnePort in RiversState.

The novel Operation Safe Passage of 2012 which has remained unparalleled in the history of road development was aimed at recovering several deplorable sections of our major roads to ameliorate the sufferings usually experienced by road users at the end of the year when there is massive movement of people across the country for festivities. Some of the roads rehabilitated by the Ministry under the Operation Safe Passage include; Lokoja-Okene road, Ilorin-Jebba-Mokwa-Tegina-Kaduna road, Suleja-Minna road and Lafia-Makurdi-Aliade-Oturkpo-9th Mile road.

Others include the Jalingo-Kona-Lau road in TarabaState, Kano-Zaria-Kaduna road, Kano-Bichi-Katsina-Jibia Niger border road, Enugu-Okigwe-Umuahia-Aba-Port Harcourt road, Aba-Ikot Ekpene road, Odukpani-Itu road, Okene-Auchi-Benin road, Irrua-Ilushi road, Lagos-Ibadan expressway, Ibadan-Ilorin road and Apapa-Oshodi road.

On resumption of office in July, 2011, Onolememen quickly proceeded to upgrade the Public Private Partnership (PPP) Unit to a full department. As a result, Nigerians are on the verge of benefiting from PPP for road development since budgetary allocations alone are grossly inadequate to satisfy the nation’s appetite for modern roads like other nations of the world.

maintenance and vegetation control in the past two years. FERMA has maintained a total of 1, 980 km of road corridors in the past two years.

With numerous new policies aimed at efficient service delivering abounding at the Federal Ministry of Works, both contractors and staff alike are upbeat that work is ‘good to go’ as the youthful Arc Mike Onolememen parades new ideas to improve the road sector like never before. He has again sounded it to contractors that money will only be released for permanent works like asphalting and no more for ordinary earth works as in the past. This is another way of checking the short-changing of government through project abandonments and endless request for augmentation occasioned by washouts by contractors. It’s a new test of true patriotism at the federal ministry of works indeed.



www.vanguardngr.com/2013/05/how-weve-been-bulldozing-the-nations-roads/

Rastamann: Thank God it ended a 2 - 2 goaless draw!

2-2! And you still add am goaless draw!?

Nigeria and their adding double to every word they say.....which one be Draw Draw?? Its a draw jare! SMH

I thought they say its only Nigeria that is corrupt!! Never knew outside nigeria they have ever heard a word called corruption.

Anti-corruption campaigner, P.C. Appiah-Ofori, has stated that the only way Ghana can rid itself of the pervasive corruption within its institutions is through the intervention of Jesus Christ.

Speaking to Citi News, Mr. Appiah Ofori lamented the rising level of corruption within the country and advised government to curb the situation if it intended to develop the nation's economy.

“As long as corruption is going from bad to worse, citizens would not be able to benefit from the economy and only Jesus can stop corruption in Ghana. Unless corruption is curbed, there is no way, because the money that government would have to use to prosecute projects and activities will not be available. The money ends up in people's pocket”.

According Mr. Ofori, "for the 12 years that I was in parliament, I did all that I could, but it rather went from bad to worse, and this is the reason why I decided not to go there again.”

“As long as the president is not able to access enough funds, he will not be able to positively contribute towards the development of this country

http://www.citifmonline.com/index.php?id=1.1401905

*opens thread see it is full of knock heads wallowing in self hatred, closes thread while thinking if only its abacha that is still ruling*

Iberibe!

This report is like one year ago! Haven't they still completed it yet?

A state of emergency was declared here and all the ACN CPC goons all ran away like their fellow cohorts, BH boys!

havent you noticed that since SOE was declared, GEJ has been having less bashing here!.....SOE took care of those nonsense

Who ever listen to opposition views and believe their crap especially those that have been in power and are presently out of favor should know devil is using their destiny to play whot!

They have not and never will have d masses interest at heart will making any comment! They are just using d gullible to seek for power!

A word is enough for the wise!

DWJOBS.com:
Men am so filled with the holy Spirit if not i was going to say leave the STUPID FOOL alone!!!!!! sometimes i think nairaland administrators should insist on birth cert. upload before one can comment but viewing is okay as one can get some schooling before graduating to comments

But u still finally said!

Eko Ile: The international designation was part of Jonathan's political games in the SE and of course the SE ate it up like spaghetti instead of holding him for a new airport. His promises commitments in the region is always patch patch,even the river port that was hyped endlessly is a redundant and obsolete repainted warehouse and 2 forklifts...



The fact is, the region can do better especially looking at other state's in the SS building their own airports from scratch with no federal mediocre attachments. It just beats me why the whole of SE sits and beg for everything and end up with remodeled this and patch patch that tu shut them up.


Seriously, what is going on with the SE governors?

Sometimes when u do dis ur opposition thing just pause for some min and listen to ur self and see how foolish and Hypocritical u sound....ur writeups are too childish abeg!

I just hope the chinese will do a far better job with the 13 billion naira international terminal so they can relegate this to a local wing which it is looking like.

Why they commissioned this terminal before finishing the works is another matter for another day!

Not a fantastic looking terminal but miles ahead from where we are coming from.

When ever I watch boko haram videos like the recent one they were celebrating the arms catchment they captured from mongoro barracks......all goes through my mind is, see nice shot for a drone missile.....it will be a lame duck shot with no collateral damage at all cause they are in an open field in the desert!

But come to think of it when was d last we heard of a major BH attack? Since SOE I haven't heard of one.

So happy especially for mike anyasodo....still can't fathom why his career has exploded like iyanya cause dat guy is more talented out of all the PF winners!

Emi ni baller!

awodman: Nnaaaa lekwanu m eshishi oooo ...Ur wife abi na ur office mates got u angry..please don't rest ur venom on me..am just an ordinary Nigerian who saw a good development on his country and decided 2 share with fellow forum members..Is it now a crime 2 believe in my country and the person heading its affairs??...please take ur anger elsewhr..if d news got u angry thr is a transformer in ur neighborhood dat needs some love...Lekwa m ikpo m shoe

The dude is seriously bitter....allow him to pour out his venom before he collapse....surely someone stole his food or his dad hit him with some terrible lashes so he is looking for where to unleash his venom, pls allow him or we have murder in our hands

very funny guy

For you guys information it is a 750 MW capacity power plant and when you add it to mambilla 3500 MW which also construction is about to start you have a whooping 4250 MW for distribution into the grid....add to 10,000 we will be generating by first quarter of next yr plus new ipps dat private companies are bringing on board, example chevron 500MW plant mobil 500MW transcorp 1000MW geometric 650 MW etc.....we are heading to 20,000 MW by 2016

Can somebody tell me if this administration is actually clueless?