₦airaland Forum

Collynzo16: Sorry.
You make no sense.

The coal supply has to last for a very long time...do we know the amount of coal we have in Enugu in relation to the "desired" power needed in the subregion taking into cognizant future growth.
So the fundamental question is how many metric tons of coal do we have in Enugu and environ

The main problem with coal powered plant is supply. Yes there is coal in Enugu...but how long will it last..10 .20. or more years...if its just about less than 50 years in terms of power investment. It is not viable from an investors point of view... let the states carryout a thorough visibility study on it..
Investment is rarely an emotional issue

In support of the Federal Government’s new automotive policy, an indigenous company, Cambistry Ventures Ltd (CVL) has set up multi-million naira ultra modern Automotive Transmission Fluid (ATF), brake fluid and power steering plant in Ikotun, Lagos to meet with the demands of automotive manufacturers as well as existing automobiles plying our roads.
CVL which specialises in the production of automotive transmission fluid,brake fluid, power steering fluid, injector cleaners, among others, which the brand name Truvalue is located at Ikotun, Lagos.
Speaking to Motoring Journalists recently at the plant, the Managing Director, CVL, Engineer Ikechukwu Okafor, who retired as an Assistant Director from NNPC said that the Federal Government effort to revive the nation’s auto industry is quite commendable and should be supported by all stakeholders in the sector.
According to him, the decision to set up a plant for Truvalue production of the products in partnership with its foreign partners from the United States gave birth to the multi-million naira project which is due for commissioning next month.
“Before now, we used to import these products from the United States but with the Federal Government’s resolve to grow our auto industry, we have decided to throw our support on the local content by producing these products locally without compromising quality,” he said.
According to him, CVL has the capacity to meet all the automatic transmission fluid, brake fluid, steering fluid needs of cars in the country. He also noted that the quality of his products stand them out as most brake fluids currently in the market contain water which is not good for the brake system.
The CVL boss further explained that the plant would commence production by next month as the engineers from Serac, a reputable company that produced the equipment from France will be arriving to set up the filling lines.
CVL is in partnership with reputable companies from USA like Omni Specialty Product Louisiana, Technical Chemical Company in Texas and Freeze Stone Products Incorporated, Florida. Said he: “We picked what is best in class in every segment and don’t compromise quality for any reason.
When you pick our products, we want you to hold us responsible for them at all time, that is why we are partnering with the world’s best manufacturers.”
On what led to his interest in this area of business, Engineer Okafor explained, “My passion to see automobiles run without embarrassing the owners on the road is the number one reason and the plans to create job for the youth too.
I started by importing injector cleaners, power Steering, automatic transmission fluid, things you can use to keep your car running. I deal in top of the range. I discovered that the products in the market were not of high quality, In the last 15 years, I have gained some market and people attested to our quality.
Unfortunately, our petrol chemical industries is not working, which I think will affect the level of our local content. “We want to produce at home with the influx of large number of automatic transmission vehicles into country, we need quality ATF.
But unfortunately, most of the ATF available are of low quality, hence, we are introducing ours to make the difference.
The ATF we imported are for car from early 2000. I do Dextron VI Marcon V and that is what we are going to produce in our plant here.
What I want to start with for now is to package brake fluids dot 3 and 4 and ATF. It will be of the same quality from Europe and America. All batches of our products are tested by InterTech Automotive research in Texas. They are the testing agent for SONCAP. What gives me joy is that there is nothing imported without testing.


http://www.vanguardngr.com/2014/08/n...thers-locally/

Total Builds $900m Pipeline to Supply Gas to Alaoji Power Station
Posted by: The Citizen in Business, Other News August 26, 2014

Mrs. Elisabeth Proust, MD, Total Upstream Companies in Nigeria
Hope for improvement in power supply in Nigeria has been rekindled as French oil giant, Total has stated that it has built a $900 million worth of pipeline infrastructure to supply gas from the company’s Oil Mining Lease (OML) 58 to the 964 megawatt-capacity Alaoji Power Station in Abia State.
The new Managing Director of Total Upstream Companies in Nigeria, Mrs. Elisabeth Proust, who confirmed this investment to THISDAY at the weekend, however, stated that for the investment of such magnitude to be economic in Nigeria, the price of domestic gas should be increased from its current level of $2.5 to $7 per million British Thermal Unit (BTU).
“We have invested in very huge pipeline onshore – 50 kilometres of 24-inch pipeline, starting from OML 58 to go to Imo River and to Alaoji. Here, we are already in contract with the power plant at Alaoji. This is our first customer. We will be ready to deliver the gas by 2015. So, we are now in negotiation with other industries, not power plants, to provide them with gas. My plan is that in 2017, we should produce and supply the gas through the pipeline,” she said.
Proust said it was a huge pipeline that transverse several communities, adding that the company has spent $900 million on the project.
She however, said to ensure that such project was economic, domestic gas price should be increased to between $5 and $7 per million British Thermal Unit.
According to her, the recent improvement in domestic gas price cannot make such project economic.
“To get the economy of such project, we need to have a good price. The improvement in gas price is good. But we can say that it cannot provide the economy of such pipeline project. I hope that we will achieve a better price so that we can have the economy of such investment,” she added.
The Total boss further disclosed that her company will supply gas to Alaoji at a price of $2.5, adding however, that this price is not adequate to guarantee adequate returns on the investment.
“So, we have made calculations on that and we can say that for the fiscal terms in the joint venture and production sharing contracts, we need between $5 and $7 per million BTU for the development of such facilities. If the fiscal terms change, may be, we will need more. It depends on how they change,” she explained.
She said Total had taken the risk, adding that “when you take risk, you take the reward.”
“The reward is to maintain a big affiliate in Nigeria, create employment opportunities,” she added. THISDAY

Growth in non-oil export hits US$2.970bn — NEPC

on August 28, 2014 / in Business 12:49 am / Comments

By NAOMI UZOR

The Nigerian Export Promotion Council, NEPC, has disclosed that, Nigeria realised $2.970 billion from non-oil export, in 2013 a 15.9 per cent increase over $2.561 in 2012.


Disclosing this at the business meeting tagged” A New Dawn For Nigerian Export” organised by the Nigerian-British Chamber of Commerce, NBCC, the Executive Director/CEO, NEPC, Mr. Olusegun Awolowo, said Nigeria’s export is dominated by oil, but that, there has been steady growth in Non-oil export to $2.970 billion in 2013, a 15.9 per cent increase over $2.561 in 2012.

He said that non-oil export potentials have not been fully exploited despite endowed natural resources solid minerals, agriculture, adding that, some of the challenges are poor infrastructure, energy, finance, skills and capacity.

According to him, the non-oil export challenges in Nigeria are infrastructural deficiency, poor standardisation of products, high cost of production, falsification of documents, weak linkages to chain supply, unwholesome trade practices, and exports dominated by primary products, inability to meet export orders, restricted access to credit and trademark.

He said that for Nigerians to position effectively in the global market, Nigerian goods for export must meet competitiveness standards – identify international benchmarks, invest in skill, technology & innovation, provide conducive and stable Export Policy Environment, intensify PPP collaborations, consult widely with stakeholders,address issues of market failure, partner with Bi-lateral chambers of commerce on export opportunities and promotion, as well as engaging Nigerians in Diaspora, take optimal advantage of trade preference programmes – AGOA and others, export of value added products as against commodities, simplify export procedures and documentations and imbibe E-Commerce culture to reduce cost and time.

Awolowo noted that there is no better time than now to critically address issues that will enhance the development and promotion of Nigeria non-oil exports and that the world is our oyster as opportunities abound to stamp ‘Made in Nigeria Products’ on the global stage.

He said we need to harness our comparative advantage population, natural resources, geo-diversity, adding that, The Bilateral Chambers of Commerce including NBCC has a critical role to play in harnessing the existing potentials for export by achieving world class standards for products and creating jobs and economic growth through value chains.

- See more at: http://www.vanguardngr.com/2014/08/growth-non-oil-export-hits-us2-970bn-nepc/#sthash.SyG3DWfD.dpuf

Emmys Awards 2014: 'Orange Is The New Black' Actress Uzo Aduba Beats Laverne Cox For Outstanding Guest Actress


Uzo Aduba kisses her 2014 Emmy for Outstanding Guest Actress in a Comedy. Reuters

“Orange Is The New Black” had its first 2014 Emmy win about a week before the 66th Primetime Emmy Awards. Uzo Aduba won the statue for Outstanding Guest Actress in a Comedy at the Creative Arts Emmys Aug. 16. The actress gave her speech at the Aug. 16 ceremony where she thanked the creators and producers for making a show "that lets everyone be represented in such a beautiful way."
The Primetime Emmy Awards showed a quick clip of her win (as well as Jimmy Fallon’s win for Outstanding Guest Actor in a Comedy for “Saturday Night Live”), but viewers didn’t get to see the speech. The actress apparently was very emotional when she thanked her mother, according to the New York Daily News. Aduba still hit the Primetime Emmy stage to present the Emmy for Outstanding Directing for a Comedy to Gail Mancuso for her work on “Modern Family."

Aduba plays Suzanne “Crazy Eyes” Warren in the Netflix hit. The award was for her portrayal in Season 1 when her storyline involved wanting Piper to be her prison wife. Next year, the actress won’t be able to compete in the category since she was upgraded to a series regular in Season 2.
Aduba was up against her fellow “Orange Is The New Black” castmate Laverne Cox, who made Emmy history even though she lost. Cox was the first transgender Emmy Award nominee.


“Orange Is The New Black” Season 3 will premiere on Netflix in 2015.

The ministers and commisioners of health in the country failed woefully in that an outbreak of such magnitude in the neighbouring countries should have compelled them to start a massive campaign to sanitaize the public about Ebola. The campaign should have included the port authorities who would then have the necessary mandate to quarantine anyone coming from the subregion or deny entry at port of origin.

While they were "distracted " by the petty demands of the doctors they failed to see the bigger threat hovering over us.

influential in what sense, as in their field or encompassing all busniess endeavours... This list is a wash

[img]
https://www.youtube.com/watch?v=t2S7aqZgn2E&feature=player_detailpage[/img]

Suicide Bombing: DSS says 13 Catholic Sisters’ regalia stolen
Published on August 23, 2014 by · No Comments

Marilyn Ogar, spokesperson of the DSS

The Department of State of State Service (DSS) has warned that terrorists may be planning to attack in a different way after 13 pieces of Catholic Reverend Sisters’ regalia were stolen from a shop in Kano state purportedly for suicide bombing.

In a statement released by Marilyn Ogar, spokesperson for the DSS, Nigerians are advised to look out for persons, especially female suicide bombers who may disguise in this regalia. The DSS believes that it might a new tactic adopted by suicide bombers following the awareness of Nigerians to the use of hijab.

“On 20 August 2014, about 4:00 a.m., some yet to be identified persons broke into a tailoring shop located at No. 55 Odutola Street, Sabon Gari, Kano, and stole about thirteen (13) pieces of Reverend Sisters’ regalia of the Catholic Church. With the recent trend in female suicide bombings in the country, the removal of these regalia may be the handiwork of terrorists’ elements that may want to perpetrate acts of terror using such garments.

“Consequently, this Service has taken necessary pre-emptive measures to thwart the exploitation of distinct religious wears for terrorist purposes. We also wish to draw public attention to this development and call on all citizens to be more circumspect and exercise greater vigilance with users of such peculiar attires.

The DSS then encouraged Nigerians to report any suspicious movement by anyone to the security operatives. “We enjoin all and sundry to continue to cooperate with law enforcement agencies through the provision of useful information on suspicious activities within their immediate environment. This Service will continue to collaborate with all stakeholders as we strive to keep our country safe.”

M0GIDI: @ kmariko

If you read Punch and TheNation you'd be forgiven for thinking Nigeria was a lot poorer than Sao Tome and Principe, thanks for bringing Businessday to those who would rather not duel on reality.

Thank you for believing in this good country

Nigeria’s shrinking imports data show policy gaining traction

Recent trends in Nigeria’s import trade dynamics have seen import values shrink since the last quarter of 2013, indicating that government’s policies to improve the country’s terms of trade are gaining traction.

These policies include the Agriculture Transformation Agenda, National Industrial Revolution Plan, backward integration programme, among others.

Imports into Nigeria have been falling for the two most recent quarters for which data are available (Q4 2013 and Q1 2014).

The National Bureau of Statistics’ (NBS) import figures for Q4 2013 show that imports fell by 19 percent from Q3 2013, recording a trade surplus of 20.3 percent for the period.

Nigerian exports in the first quarter of 2014 also rose by 14.2 percent from the previous quarter, while imports fell by 8.3 percent, resulting in a trade surplus of N2.4 trillion. Q1 2014 trade surplus rose to 35.4 percent, higher than the surplus for the previous quarter. Imports fell by 8.3 percent from Q4 2013, and 6.2 percent from the corresponding quarter of 2013.

Nigeria’s import figures have been falling markedly since the new Federal Government’s policy on rice, sugar (initiated in February 2013, but took effect in June 2013), fish, and most recently, the new automotive policy.

The policies, aimed at boosting the nation’s agric sector, have seen food imports fall by N2.5 billion in the last three years, according to Akinwumi Adesina, minister of agriculture and rural development, adding that Nigeria would surpass its target and produce 22 million tonnes of additional food by 2015.

“When we started in 2011, our aim was to produce additional 20 million tonnes of food to the existing production. As at the end of 2013, 17 million tonnes of additional food had been produced since 2011, and by 2015, 22 million tonnes of additional food would be produced,” said Adesina.

He said Nigeria was now the reference point for agriculture on the continent as the country was rapidly closing its food importation gap.

The new policies have seen a significant fall in the volume of those goods imported. Since the Federal Government imposed the new levy in addition to the import duty on rice imports, the Nigerian Customs’ rice-related annual revenues have fallen by at least 70 percent.

Prior to the implementation of the policy, rice imports accounted for between 70 percent to 90 percent of the Apapa Area One Customs Command’s monthly revenue.

Revenue generated from rice levies dipped by 90.6 percent, from N125.3 billion to N11.8 billion.

Charles Edike, Customs area controller, Apapa Area1 Command of the Nigeria Customs Service (NCS), said in an interview that the new import policy affected the revenue collection of the command.

“Fish, which used to be the second revenue source for the command, was also affected by the policy of government,” Edike said.

The NBS’ classification by section showed that the structure of Nigeria’s import trade was dominated by boilers, machinery and appliances (23.7 percent) mineral products (16 percent), vehicles, aircraft and parts (13 percent), base metals and articles of base metals (9.5 percent), and chemical and allied industries (8.5 percent).

At specific product level, motor spirit had the greatest value of imports, comprising 12.5 percent of total imports for Q1 2014, followed by spelt (common wheat) and meslin (a mixture of wheat/rye) at 3.5 percent, and machine tools at 3 percent of the total value of imports.

Wheat and wheat-related products, accounting for the second largest import commodity by value, highlights the degree of food dependency of the Nigerian economy.

This means that the Nigerian economy is still susceptible to fluctuations of food commodity prices on the international market. Increased wheat prices internationally will have knock-on effects for the FMCG industry and subsequently result in imported inflation.

Classification by broad economic categories showed that industrial supplies comprised 28.2 percent of total imports, followed by capital goods (22.3 percent) and transport equipment and parts (14.4 percent).

Nigeria’s trade surplus figures have acted as a boosting factor to the country’s macro-economic fundamentals. The value of the naira is expected to be stable in the near term, as demand for dollar eases, going by the analysis of the trade data. More accretion in the foreign reserves is also expected.

Businessday 21/08/2014


Edozie Ifebi

Indigenous firms seen boosting Nigeria’s production on marginal field

August 21, 2014 |

The contribution of indigenous firms to oil and gas production and reserves in Nigeria through marginal fields awarded to them in the first licensing round has grown in recent times, adding pressure on the government to expedite action on the next bid round.

More indigenous oil firms are seen as positioned to boost Nigeria’s stagnant production and reserves, as the next marginal field bid round is eagerly anticipated to come on stream sooner than later.

“Without necessarily ranging them, I can count five indigenous oil companies that are poised to grow in the upstream sector. They include Energia, Platform, Seplat, Niger Delta Resources, Waltersmith, and Emerald,” Wumi Iledare, president, International Association for Energy Economics, told BusinessDay.

“These are capable people. If you will only give resources to these capable hands, oil and gas will be made available because these people have the skills,” he said.

Marginal fields are fields in which available reserves do not make them commercially viable for the holders of Oil Mining Leases (OMLs), typically the international oil companies (IOCs), to develop. Such fields are located within existing OMLs operated by IOCs and are left dormant for a considerable amount of time.

Just recently, a joint venture (JV) partnership between two Nigerian independent oil and gas companies, Frontier Oil Limited and Seven Energy, brought about a new gas facility in Akwa Ibom State, riding on the back of a marginal field awarded in 2013.

The gas processing facility, which is a boost to the gas-to-power aspiration of the Nigerian government, is capable of generating 1,000 megawatts (MW) of electricity.

In 2003, Frontier Oil was awarded the Uquo marginal field in OML 13 by the Department of Petroleum Resources (DPR) after a keenly contested marginal field round, with proved plus probable reserves of about 667 billion cubic feet of gas. The Uquo JV commenced commercial gas production in 2012 and aims at, among other things, producing in excess of 200 million standard cubic feet of gas per day (mmscfd), supplying gas to power plants and industries in the country.

Dolapo Oni, energy analyst at Ecobank, said the marginal field programme was the first programme that gave a lot of indigenous companies access to oil and gas resources in the country.

“It provided them with the industry experience and also financial backing to expand production such that they can now look into acquiring assets being divested by IOCs. The programme has also encouraged the growth of the local content,” Oni said.

“The easiest way to get more indigenous companies into exploration and production is through marginal field programme because the assets are cheaper with proven reserves and most of them have infrastructure in place,” he added.

Austin Avuru, managing director, Seplat Petroleum Development Company, said at a recent conference in Lagos that by 2018, 50 percent of domestic gas production to power the economy would come from Nigerian independents.

The marginal field programme by the Federal Government is aimed at increasing reserves, production, employment, local content and indigenous participation in the upstream oil and gas business.

Eight of the 24 fields awarded in 2013 are currently producing, with over 40 new wells drilled by the awardees representing a four-fold increase, according to DPR.

Reserves have increased by over 100 million barrels of new resource volumes to 326 million barrels, representing a three-fold increase in the nation’s resources, DPR said.

Diezani Alison-Madueke, minister of petroleum resources, had in November 2013 flagged off the next marginal field licensing round, with 31 fields on offer. Sixteen of the 31 marginal fields are located onshore, while the remaining 15 are located on the continental shelf.

The announcement and the road shows by DPR generated massive investor interest in the bid round, but since then not much has been heard about the progress on the impending bid round.

The selection of the fields to form part of the bid has been attributed as one major cause of the delay, even as the DPR is liaising with the various leaseholders regarding potential marginal fields.

“This licensing round has been highly anticipated, and upstream participation has been a key strategic point for most new entrants in the industry,” said CBO Capital in a recent report.

Noting that marginal field programme was gradually living up to expectation with production growth for oil and up to 100 mmscfd for gas, Osten Olorunsola, former DPR director, recently said, “Marginal fields are now also breaking new grounds, integrating the value through crude oil production, monetisation of gas and small scale refining. They are also deploying new technologies and are better able to handle local communities.”

Similarly, Alison-Madueke recently said, “In their operations, the companies’ development strategies are in line with the nation’s Gas Flare Policy and global environmental guidelines on Green House emissions, by ensuring full utilisation of their associated gas. Indeed, one of them has established a modular refinery for diesel production, which is the first of its kind in the country.”

The marginal field programme is an offshoot of the Federal Government’s policy to promote indigenous participation in the upstream sector of the petroleum industry.

Businessday 21/08/2014



FEMI ASU & JOSEPHINE OKOJIE

Nigeria’s shrinking imports data show policy gaining traction

August 21, 2014 | Filed under:

Recent trends in Nigeria’s import trade dynamics have seen import values shrink since the last quarter of 2013, indicating that government’s policies to improve the country’s terms of trade are gaining traction.

These policies include the Agriculture Transformation Agenda, National Industrial Revolution Plan, backward integration programme, among others.

Imports into Nigeria have been falling for the two most recent quarters for which data are available (Q4 2013 and Q1 2014).

The National Bureau of Statistics’ (NBS) import figures for Q4 2013 show that imports fell by 19 percent from Q3 2013, recording a trade surplus of 20.3 percent for the period.

Nigerian exports in the first quarter of 2014 also rose by 14.2 percent from the previous quarter, while imports fell by 8.3 percent, resulting in a trade surplus of N2.4 trillion. Q1 2014 trade surplus rose to 35.4 percent, higher than the surplus for the previous quarter. Imports fell by 8.3 percent from Q4 2013, and 6.2 percent from the corresponding quarter of 2013.

Nigeria’s import figures have been falling markedly since the new Federal Government’s policy on rice, sugar (initiated in February 2013, but took effect in June 2013), fish, and most recently, the new automotive policy.

The policies, aimed at boosting the nation’s agric sector, have seen food imports fall by N2.5 billion in the last three years, according to Akinwumi Adesina, minister of agriculture and rural development, adding that Nigeria would surpass its target and produce 22 million tonnes of additional food by 2015.

“When we started in 2011, our aim was to produce additional 20 million tonnes of food to the existing production. As at the end of 2013, 17 million tonnes of additional food had been produced since 2011, and by 2015, 22 million tonnes of additional food would be produced,” said Adesina.

He said Nigeria was now the reference point for agriculture on the continent as the country was rapidly closing its food importation gap.

The new policies have seen a significant fall in the volume of those goods imported. Since the Federal Government imposed the new levy in addition to the import duty on rice imports, the Nigerian Customs’ rice-related annual revenues have fallen by at least 70 percent.

Prior to the implementation of the policy, rice imports accounted for between 70 percent to 90 percent of the Apapa Area One Customs Command’s monthly revenue.

Revenue generated from rice levies dipped by 90.6 percent, from N125.3 billion to N11.8 billion.

Charles Edike, Customs area controller, Apapa Area1 Command of the Nigeria Customs Service (NCS), said in an interview that the new import policy affected the revenue collection of the command.

“Fish, which used to be the second revenue source for the command, was also affected by the policy of government,” Edike said.

The NBS’ classification by section showed that the structure of Nigeria’s import trade was dominated by boilers, machinery and appliances (23.7 percent) mineral products (16 percent), vehicles, aircraft and parts (13 percent), base metals and articles of base metals (9.5 percent), and chemical and allied industries (8.5 percent).

At specific product level, motor spirit had the greatest value of imports, comprising 12.5 percent of total imports for Q1 2014, followed by spelt (common wheat) and meslin (a mixture of wheat/rye) at 3.5 percent, and machine tools at 3 percent of the total value of imports.

Wheat and wheat-related products, accounting for the second largest import commodity by value, highlights the degree of food dependency of the Nigerian economy.

This means that the Nigerian economy is still susceptible to fluctuations of food commodity prices on the international market. Increased wheat prices internationally will have knock-on effects for the FMCG industry and subsequently result in imported inflation.

Classification by broad economic categories showed that industrial supplies comprised 28.2 percent of total imports, followed by capital goods (22.3 percent) and transport equipment and parts (14.4 percent).

Nigeria’s trade surplus figures have acted as a boosting factor to the country’s macro-economic fundamentals. The value of the naira is expected to be stable in the near term, as demand for dollar eases, going by the analysis of the trade data. More accretion in the foreign reserves is also expected.



Edozie Ifebi;;; Businessday 21/08/2014

Its all about business, pure and simple.

The value chain will create jobs in the state

When people start looking at the business side of life devoid of primodal sentiments, the country will become more peaceful... Cos in business everyone understand one thing and one thing only... how to pay their bills chikiena.

Nigeria’s middle class jumps six-fold to 23m in 14 years – Standard Bank

August 20, 2014

Nigeria’s middle class jumped six-fold in 14 years as economic growth spiked between 2000-2014 with the return to democracy and increase in private sector investments, according to Standard Bank in a new report.

According to the bank, middle class households in 11 leading sub-Saharan African economies, including Nigeria, are set to balloon to about 40 million by 2030 as the benefits of economic growth are more inclusively distributed.

The report notes that the phenomenal growth will be propelled by Nigeria, where the middle class grew six times since 2000 to its current level of about 4.1 million households.

This is equivalent to about 23 million middle class people, using the National Bureau of Statistics (NBS) estimates of 5.7 individuals per household in Nigeria.

The report, entitled ‘Understanding Africa’s middle class’, found there are about 15 million of the 110 million households in Angola, Ethiopia, Ghana, Kenya, Mozambique, Nigeria, South Sudan, Sudan, Tanzania, Uganda and Zambia, consuming from $15 to $115 a day. This is up from 4.6 million in 2000 and 2.4 million in 1990 – an increase of 230 percent over 14 years.

“Between 2000 and 2014, we have seen a tripling of middle-class households across these 11 countries,” says Simon Freemantle, a political economist at Standard Bank in Johannesburg, South Africa.

“It confirms the idea that Africa has structurally changed, that there has been real improvement in the last 10 years. Not just cyclical, it has been a structural change,” says Freemantle.

The emergence of a middle class was found to be most profound in Nigeria, Africa’s largest economy. About 4.1 million households or 11 percent of the Nigerian population consume $23 to $115 a day, according to the report.

However, of the total number of households across these focal economies, 86 percent of them remain within the broadly “low income” band, emphasising the nascent maturation of many of the continent’s markets.

The report also found that the combined GDPs of the 11 measured economies had grown tenfold since 2000.

Freemantle, author of the report, says the new report is cause for optimism among investors, as it suggests even greater scope for future growth, and indeed forecasts acceleration in the accumulation of middle-class households in Africa.

Commenting on the lower-than-anticipated total number of middle class households, Freemantle says any view concerning the undoubted ongoing improvement in Africa’s economic performance has to be tempered with the reality that the level of this growth and the nominal size of the continent’s middle class had not until now been adequately measured.

“Standard Bank has attempted to fill the knowledge gap by using comprehensive household income data and adopting our own measure of the middle class using South Africa’s LSMs as a framework in order to provide cross-quantifiable reference points for peer African economies,” he says.

Busssinesday 20/08/2014

PATRICK ATUANYA with wire report

spyder880: HELP!!!

The new Coal Camp embankments are being taken over by weed.

Where is our maintenance culture.

The grass does not need to be removed from there ..actually it is supposed to grow from those spaces both for erosion control and above all aesthetics. Give it a few years and see the beautiful greenery on the slopes.

anonimi: I also agree with you about being easily carried away when he SPEAKS. But the real question is does his ACTION overall align with his TALK
Or should we continue being easily CARRIED AWAY by cheap talk that has not moved us forward?

We shouldn't be carried away by a political speech. Then again most have seen him carry out his work at EFCC with some sort of "messanic" zeal.
Ribadu has some rough edges that really needs to be smoothened out to widen his appeal much more. He should learn to see himself as part of us and not above us. Secondly he should learn finesse not explosive confrontation.
Third he should be more nuanced in his dealings. .context is very important
Probably being a governor will give him much more experience in dealing with varied groups

atlwireles: What does he believe now, that he did not believe in 2011-2013? PDP does not need him, the only joy I see here, is being able to pour pepper on APC's open sores.It is great joy seeing their party fall apart like a house of cards, that it is and will remain. Last year when the great party was on life support in Adamawa, he was prancing like horse over us. Now he wants to harvest, where he never sowed. I dislike people like him. They are freeloaders and they make me sick.

Listening to Ribadu speak one gets the feeling that his belief lies in getting every form of corruption out of the national system. His core belief is that corruption is the root cause of most of the nations problems. He sees party politics as the means to get to the position where he can effectively layout his plans to tackle it. It really doesn't matter the political party as long as he gets to that position and carryout his plans.

He has a wider national appeal and credibility than anyone out there. Am sure he has realized that PDP can provide him the platform to reach every nook and corner of the country

I see him as the next president after GEJ as the rotation moves back to the north.

atlwireles: Why can't I see any value in this move I cannot trust Nuhu, not after the nonsense of the last 3 years. People have to stand for something, Nuhu seems to stand for nothing. This is how Nyako joined the PDP, only to seek the party's destruction from within. I hope Nuhu is not expecting any elective party ticket. There are people who spent days and night, fighting to keep the party alive, when Nuhu and Nyako were doing all things possible to destroy it. Just get in line and wait for your turn in 2025.

Ribadu is what Ribadu believes in...what Ribadu is about is to right the perceived wrong ( his) in the society. And he believes that he can only do that through a political party. Whatever the ideology of party is is irrelevant to his "messanic" duty of steering the Nigerian ship to the right course...

If this is true then the powers that be are prepping Ribadu as the president after Good luck.

The Director-General, Bureau of Public Enterprises (BPE), Mr Benjamin Dikki, said power privatisation in the country had started yielding results with 18-hour uninterrupted power supply to consumers in Lagos.

This is contained in a statement by BPE’s Head of Public Communications, Mr Chigbo Anichebe, on Friday in Abuja.

The statement said that Dikki made the disclosure when members of Abuja Chamber of Commerce, Industry, Mines and Agriculture (ABUCCIMA) visited the Bureau.

Dikki, it said, however stated that power supply around the country would have improved but for the shortage in gas supply to power generating plants.

He said that the new power owners had invested heavily to upgrade infrastructure so as to give Nigerians steady and uninterrupted power supply but restated that steady gas supply had remained an impediment.

While appealing to Nigerians to be patient with the new owners of the power assets, he said that the Federal Government was doing everything possible to solve the gas challenge.

He pointed out that the establishment of Nigerian Electricity Regulatory Commission (NERC), Debt Management Office (DMO) and National Pension Commission (PENCOM) represented government’s resolve to reform the economy.

The director-general affirmed that BPE would take advantage of platforms provided by credible organisations like ABUCCIMA to showcase its achievements.

According to him, the pension reform, for instance, has attracted over N4.2 trillion into the financial system which could be quadrupled in the next few years.

He appealed for the passage of the Petroleum Industry Bill (PIB) to open up the oil and gas sectors for job creation.

“I appeal to organisations like ABUCCIMA to prevail on the National Assembly to the pass the PIB with clear separation of the role of policy formulation, regulation and operation.

“This will open up the oil and gas sectors so that jobs will be created to take care of the country’s teeming unemployed population,” he said.

The statement said the First Deputy President of ABUCCIMA, Mr Tony Ejinkeonye, assured that the chamber would partner BPE to showcase its activities during the upcoming 9th Abuja Trade Fair.

Dear @op with a grieving heart ..am sincerely sorry for such a patriot your father who has served is dear country so well as to pay the ultimate Price.. Giving his life for the country he so loves.

Please accept my sincere condolences and may the God you serve give you the strength to go through this trying times.

Wishing you and your family the best.

Kmariko

Sometime one wonders whether these so called"leaders" ever think beyond there pocket books. Probably its an attempt at policial relevance

I wonder why some people are out to crucify our able director instead of looking at disturbing pattern of political violence in the country that has traditionally marred elections in here. The idea of airing these is to put politicians on notice that they are being watched. Again by informing the public shows that DSS has nothing to hide in policing elections.

For all those naysayers why not read the report of the national conference and at least find something you dislike and comment on it rather than screaming for absolutely no reason. The worst that can happen on reading the report is that it might provide you more ammo to hate GEJ and all things his administration stands...Just read.

This is one of the good news coming from the administration.. A hands free approach, a non interference conference that has helped to reduce rancor among the differing ethnic groups in the country. It is left for all of us to fight for the implementation. It shouldn't be A partisan issue as more of a national issue..

Several reactions have trailed the just concluded University of Nigeria,Nsukka Post-Unified Tertiary Matriculation Examination, UTME.
In an interview with a cross section of students and parents, some lauded the organisation of the examination while others expressed their dissatisfactions.
According to Jennifer Akpan, a Medical Laboratory Science candidate, “The examination was nice and was devoid of any form of malpractice”.

Another candidate of Radiography, identified as Rosemary said: “The exam was well organised, the invigilators were strict and even the security was tight.”
Also speaking on the nature of the questions given to the students, Rosemary noted that those who prepared very well for the exam won’t find it difficult. “The questions are simple if students really read there books, they will have high scores and perform excellently” she said.

Expressing his expectations of the outcome of the exam, Michael Awa, had this to say’; ”I was amazed at the turnout of candidates. Though it was intimidating, but I am hopeful that i will be admitted”.
Another candidate, Edoere said; “last year’s Jamb was very bad, but this year it is a bit fair. For admission, what I can say is about 70 per cent will gaining.“

However, some candidates expressed discontent over the limited time allotted for the examination. Ada Obasi, who applied for Medicine and Surgery cried out her in ability to finish her questions due to the limited time. She said:” This is unfair, the examination had always lasted for 50 minutes but suddenly changed to 40 minutes. Some Of us could not finish on time.”

Another candidate of Medical Laboratory Science, identified as Henry Mbachi said; ”they reduced our time from 1hour to 40minutes. They didn’t even give us time to go through the question and the head invigilator was just yelling at everybody.”
Some parents who accompanied their children to the various examination venues lamented the inability of the school to provide them with adequate accommodation.
A parent identified as Engr. Sunny said: “I am not happy at all. There is no place for us to sit down”.

Another parent who pleaded anonymity said: “I am not comfortable, as you can see, I am sitting under the tree. They are supposed to provide accommodation for us”.
Meanwhile, computer operators, traders and motorcyclists who saw the post-Utme period as a money-making season called on the Student Union Government and the school administration to lift the ban on commercial motorcyclist operation within the school.

Speaking on the success of the two-day exercise which took place on the 8th and 9th August, Inspector. Ugwu Gajethan, of Area Command Nsukka, who monitored the exercise said: “We have not recorded any form of violence so far. Security officials are here to ensure the success of this examination”.

- See more at: http://www.vanguardngr.com/2014/08/

It will be nice to know the results from each state...that way we can narrow it down to specific problem areas.

@OP it does not hurt to read the constitution under which we currently operate...

August 12, 2014Sani Tukur
Sule lamido edit

Details have emerged on how the Jigawa State Governor, Sule Lamido and his sons, Aminu and Mustapha Lamido, used their positions to siphon Jigawa State funds.

A source at the Economic and Financial Crimes Commission, EFCC disclosed that the Commission, which launched a probe into the finances of the Jigawa State government after the governor’s eldest son, Aminu Lamido, was arrested at the Mallam Aminu Kano Airport on December 12, 2012 with undeclared $40,000, has uncovered how a major construction company, Dantata and Sawoe, paid N1.3 billion as kickback into the accounts of companies owned by Governor Lamido and his sons.

According to the source, between 2007, when Mr. Lamido assumed office, and now, Dantata and Sawoe Construction Company was awarded contracts amounting to N13.5 billion. Payments for these contracts were made by the state government to the construction firm through five banks – Zenith, Access, Diamond, Sterling and UBA.

Within the same period, according to EFCC investigation, Dantata and Sawoe paid out over N1.3 billion into the accounts of companies in which the governor and his sons — Mustapha and Aminu –have interests, specifically the accounts of Bamaina Holdings Limited where Sule Lamido is sole signatory and Speeds International Limited. Both accounts are domiciled in Unity Bank Plc.

Over N832 million was paid into these two accounts by the construction giant, while the balance of N488 million was paid into the family’s account at Access Bank.

To disguise the nature of the payments, our checks show, the construction company raised cheques in favour of Bamaina Company Nigeria Limited, Speeds International Limited and Gada Construction Limited.

The cheques raised in the names of Bamaina Company Limited and Gada Construction Limited were cleared into Bamaina Holdings account in Unity Bank even when Gada Construction Limited had no account in Unity Bank. These third party cheques amounted to over N500 million.
Investigators also found that there was no authorization, power of attorney or indemnity provided by the companies before these third party cheques were cleared.

The source also revealed that kickbacks were paid to some traditional rulers in the state by the same construction company. Those payments are also being investigated by the anti- graft agency, this newspaper understands. Our source, however, declined to name the traditional rulers involved in order not to jeopardize ongoing investigations.

PREMIUM TIMES learnt Danata and Sawoe is not the only construction company that returned ‘favours’ to the Lamido family for contracts awarded to them.

EFCC investigations also revealed that AG Farero, a construction firm which won the contract for the construction of the state secretariat, initially for N6.66 billion, but later for N9.3 billion, after an upward review, sub-contracted jobs to Speeds International and Bamaina Aluminium Company Limited. Both companies are owned by the Lamido family.

Other companies owned or promoted by Governor Lamido and his children also allegedly milked the state in sweetheart contract deals.

For instance, the source revealed that Aminu Lamido, who was jailed by a Federal High Court in Kano for money laundering offences, received over N1 billion from several Jigawa State establishments and agencies through his company, Saby Integrated Project Limited, between 2010 and 2013.

The company was awarded contract for the installation of street lights in various locations by the state Ministry of Transport to the tune of over N730 million. The state Universal Basic Education Board also awarded contracts of N173 million to the company, while the Small Towns Water Agency paid the same company N190 million for three separate contracts.

The source said the investigation is still ongoing, adding that no fewer than eight persons had been quizzed by the agency aside the governor and his sons. Those quizzed include the state accountant-general and some bank officials.

EFCC operatives had on November 14, 2013 arrested Mustapha Lamido in a bid to unravel the web of money laundering in which billions of naira from Jigawa State government accounts were allegedly funnelled into the accounts of companies run by the Jigawa state governor and his two sons.

Over N10 billion is said to have been transferred from Jigawa State government accounts into the accounts in which Governor Lamido and his two sons have interest from 2007 till date.
When contacted, the spokesperson for Governor Lamido, Umar Kyari, declined to comment on the allegations. Instead he referred PREMIUM TIMES to the Commissioner of Information, Babandi Ibrahim, for enquiries.

However, several calls to the commissioner’s mobile telephone were neither answered nor returned. Mr. Ibrahim also did not respond to a text message sent to him by this reporter.
Dantata and Sawoe also wouldn’t comment for this story. Our reporter visited the company’s headquarters in Abuja on Tuesday but after several hours of waiting, he was told that the Public Relations Officer of the company was unavailable for interview. He was not given any future appointment.

Efforts to contact the company through the telephone numbers listed on its website were unsuccessful, as an automated message kept saying the numbers were no longer in service.
An email to the company through the email address listed on the “ Contact Us” section of its website bounced back. An automated message said it was rejected by the server for the recipient domain — dantata-sawoe.com.

- See more at: https://www.premiumtimesng.com/news/166577-exclusive-how-jigawa-governor-sule-lamido-received-n1-3-billion-kickback-from-construction-firm.html#sthash.SjfZ9HkT.dpuf