₦airaland Forum

Qatar Airways has agreed to take a 60 percent stake in a new $1.3bn international airport in Rwanda, according to a Memorandum of Understanding (MoU) signed on Monday.

The board said a first phase of construction would provide facilities for seven million passengers a year in the Bugesera district, about 25km southeast of the capital Kigali. A second phase, expected to be completed by 2032, would double capacity to 14 million passengers a year.

"The partnership features three agreements to build, own, and operate the state-of-the-art facility," the MoU signed between Qatar Airways and the Rwandan government said.

The country's infrastructure minister Claver Gatete told a news conference that a construction company was still being sought to build the airport.

The plans for the new airport are a modification of those drawn up in 2017 for a smaller facility with a maximum capacity of 4.5 million passengers a year in the same location.

Company and government officials said at the time that Rwanda had signed a deal with the African division of Portuguese construction firm Mota-Engil to build an international airport at a cost of $818m.

Gatete said the investment from Qatar Airways would enable it to build the larger airport.

"We are looking for a bigger sized airport. That's why we are looking for a bigger investor," he said.

Qatari ruler Sheikh Tamim Bin Hamad Al Thani is currently visiting Kigali for the presentation of the International Anti-Corruption Excellence (ACE) Award.


Gatete said there was also a possibility that Qatar Airways would help state-run carrier RwandAir to expand, but gave no more details.


https://www.aljazeera.com/amp/ajimpact/qatar-airways-buy-rwandan-international-airport-191209212841510.html

causimalbarka:
He has Anan

Northerners go for ANAN more than ICAN..
While southwesterns go for ICAN. I don't why though

alfasexy:
If Ikwere is not Igbo, why do they insist on speaking Igbo?

sapele914:
ˈMɪskrɪənt/Ipob.

Noun, A Person who has done something wrong or unlawful.

"The police are straining every nerve to bring the miscreants to justice".

wwwihy:
IPOB, supporters and sympathisers are misinformed miscreants

Okoyiboz3:
But you people said once you're in Apc, your sins are forgiven.

MetaPhysical:
Brief History, Egbema Kingdom, 1976.

So Egbema became kingdom in 1976

The Federal Military Government(FMG) of Muritala Mohammed had "finalised" the assignment of the 1975 panel for the creation of additional States, headed by Justice Ayo Irikefe. By February, 1976, there were "problems" of Boundaries, the FMG set up another panel to see to it, That panel was headed by Justice Mamman Nasir.

The panel approached Ohaneze(The people and King) of Egbema on the need to add them to Rivers State; created 10yrs earlier.

The people of Egbema vehemently rejected the idea to be added to Rivers. The panel tried all possible means to no avail, they had to use "force". Egbema, made up of 17 villages, was "forcefully sliced"; 3 villages were added into Rivers, while leaving 14 in present day Imo.

The King is in present day Imo side of the divide & still superintends his subjects in both Imo and Rivers States. In Rivers State Egbema is in Ogba/Ndoni/Egbema LGA, while in Imo it’s in Ohaji/Egbema LGA. Egbema has huge deposits of Oil and Gas.

This same panel added Ndoni, a town from the old Mid-West region into Rivers State. This is the town fmr. Governor Dr. Peter Odili comes from. In other words Odili became a Rivers man 10yrs after its creation; This almost cost him the 1999 Guber election.

This Commission also added Obigbo into Rivers State. It is on record that the people of Obigbo protested but were curtailed by Federal might. Like Egbema, Obigbo also has huge deposits of Oil and Gas and plays hosts to one of the largest Gas Powered plants(Afam) in the country.

Born2Breed:
Lauretta go hear am now. If e don dey hot, i go reveal her moniker here on NL.

Yeye drunkard.

djfbn:
I received the text. Please can someone confirm if we can do interview is online, in our various state. Since is CBT

Obiaksnews:
The USA can not afford to close it's border, The USA makes millions of dollars daily from it's borders unlike Nigeria which doesn't instead it incurs more loses when the borders are open. I understand your sentiment against the government closing down our land borders. But i can assure you, this time Nigeria has made a good decision.

Obiaksnews:
You really don't know what's happening in the world then, early this year Donald Trump threatened to withhold the aids it offers to Mexico as well as slamming high tariffs and taxes on Mexican products if Mexico doesn't act or find a solution on how to stop the influx of migrants from other south American countries like El Salvador, Venezuela and the rest of them through their country. When Mexico saw that Donald Trump wasn't backing down on his threat they had to take action. For our neighboring countries to take us serious we had to take action also. As sovereign nations the only thing Nigeria can do to make other nations act right is to put up stiff sanctions against them. The border closure may bring about a lot of hardship for the time being, but it will pay off in the long run.

Obiaksnews:
Rightly said, But i would disagree with you on some of the points you raised. The neighboring countries have a part to play in our fight against smuggling. Without being sentimental, i see reasons with the government on the closure of the Nigerian land borders. for instance goods brought from outside the ECOWAS region are being tempered with by neighboring countries. They collect the import duties from those countries but then bring it to Nigeria making us believe they are from ECOWAS nations, Thereby avoiding to pay import duties to Nigeria. Nigeria has reiterated that goods coming from outside the ECOWAS region should not be tempered with and should be brought straight to Nigeria in the containers they came with, but our neighboring countries do other wise. On the other hand fuel products which are subsided for Nigerians are being smuggled to other African countries and sold for exorbitant prices at the detriment of Nigeria and it's masses, How can you explain the existence of over 150 petrol stations along our border towns, when the people living in border town communities are just a handful ? And talking about border security, no matter how sophisticated our border security is, there would still be loopholes. USA with all it's technology is still battling with the infiltration of migrants and cocaine into it's territory and that's why they are talking about building a wall. The border closure is bigger than the issue of rice smuggling.

Brandstudio01:
This is a good development. Not only will it strengthen issues bothering on the country's security, but generate more revenue for the country.

Sources say oil company executives have been visiting UAE to obtain financial backing for big market debut.

Aramco executives from Saudi Arabia met officials at the Abu Dhabi Investment Authority (ADIA) in the United Arab Emirates (UAE) on Monday to discuss a potential investment in the oil giant's debut share sale that could raise as much as $25.6bn, three sources familiar with the talks told Reuters News Agency.

Aramco has struggled to attract a major cornerstone or anchor investor for its initial public offering (IPO), which could potentially be the world's biggest ever. It has also approached the Kuwait Investment Authority (KIA) and Singapore's sovereign wealth fund, GIC.

The meeting between Aramco and ADIA - which manages some $800bn - was separate from an investor roadshow in Abu Dhabi, the second leg of a Gulf marketing effort by Aramco and its advisers.

A similar roadshow was held in Dubai on Sunday.

A spokesman for ADIA declined to comment. Aramco has said it does not comment on specific investor meetings.

"Aramco have stepped up a gear this month, but the signs are that it is unlikely to be the blockbuster sale that the Kingdom once hoped for," said London-based Capital Economics in a note on Monday.

"And plans for this sale to be followed by an international listing seem to have lost momentum," it added.

Cancelled roadshows
The company has also cancelled marketing roadshows for its listing outside of the Gulf because of the lack of interest from foreign institutional investors.

Some investors who attended the Aramco roadshow in Abu Dhabi on Monday also expressed mixed feelings about investing in the deal.

Aramco's future weight in the region's benchmark indices was a compelling reason for fund managers in the Middle East and North Africa to invest in its shares, a fund manager said after the roadshow.

But another fund manager said Aramco's dividend yield of 4.4 percent at the top end of its valuation was less attractive than many other publicly-traded oil companies.

For example, oil supermajor Royal Dutch Shell has a dividend yield of 6.48 percent, Refinitiv data shows.

'Rich valuation'
Aramco is looking to sell 1.5 percent of the company in the deal, valuing the company between $1.6-1.7 trillion. It has set a base dividend of $75bn over five years.

The deal is the centrepiece of plans by Crown Prince Mohammed bin Salman (MBS) to diversify the Saudi economy away from its reliance on oil.

"For the biggest IPO in history, it is still a wait-and-see approach for us: how it will perform, who's going to make the market," said an investment adviser to high-net-worth investors in Abu Dhabi.

"The rich valuation, the recent attacks, the oil price, regional tensions - we are yet to get perspective on this," the adviser added.

Aramco's roadshow was led by Yasser Mufti, vice president of strategy and market analysis, and attended by members of the oil firm's IPO team, according to an investor invite seen by the Reuters.

Retail subscription for the IPO reached 21.77 billion Saudi riyals ($5.8bn) on Monday, lead manager Samba Capital said.

The retail element of the sale so far amounts to a total of 680,254,540 shares, the firm said in a statement.

The last day of subscription for the retail tranche of the share sale is November 28, it said, having launched on November 3.

The oil giant said it plans to sell about three billion shares, at an indicative price range of 30-32 Saudi riyals (about $8.25), valuing the IPO at as much as 96 billion Saudi riyals ($25.6bn).

https://www.aljazeera.com/amp/ajimpact/saudi-aramco-pitches-abu-dhabi-investors-troubled-ipo-191125162511233.html?__twitter_impression=true

busar:
Alhamdu lillah for Islam... There's hardly an aspect of life that Islam does not touch.. Proud Muslim

DIKEnaWAR:
I think the problem of Islam is trying to regulate every aspect of life and daily living. I mean it should just stop at setting parameters for what is good and wrong and let our morality and conscience direct us in that regard.


For clarity, it is this opinion on every issue and trying to regulate everything that breed many varied interpretation and give rise to plenty sect leaders and fundamentalism.