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The Nigerian Sovereign Investment Authority (NSIA) managers of the nation’s sovereign fund, will today release funds as part of its equity stake in the second Niger bridge, even as it revealed that it earned N2.5 billion in profits at the end of the half year 2014 period. “We are in the process of paying money to Julius Berger as part of early works for the bridge,” said Uche Orji, the managing director, NSIA, in a telephone interview with BusinessDay. “The SWF made net profits of N2.5 billion as at June, 2014, while our expenses were flattish to down,” Orji said. The profits are 370 percent higher than the N525 million profits realised by the NSIA in the 15 month period to December 2013. Half of the profits are realised gains, while the rest are unrealised gains from the investment portfolio, based on the market’s performance, according to Orji. The Julius Berger-NSIA Motorways Investment Company (JB-NMIC) Consortium is the preferred bidder for the development of the Second River Niger Bridge Project. The NSIA invests with three funds which are the Future Generations Fund to which it allocates 40 percent of its assets; Nigerian Infrastructure Fund (40 percent) and Stabilisation Fund (20 percent). The Nigeria Infrastructure Fund (NIF) focuses entirely on domestic investments in selected infrastructure sectors. “The Nigeria Infrastructure Fund (NIF), NSIA is focused on investing in critical infrastructure that would attract and support Foreign Direct Investment, promote economic diversification and enhance growth,” The NSIA said in a statement in its 2013 FY financial report. The NSIA has funded three commitments in the infrastructure fund namely: the Nigeria Mortgage Refinancing Company, in which it holds 22.7 per cent stake, fund for agriculture finance and the second Niger Bridge. Speaking on the future generations funds (FGF), Orji said four hedge fund managers were allocated 25 per cent of the agency’s assets, across various strategies including global, macro and long-short equities. The FGF has an investment horizon of about 20 years. Orji said the near term view is positive for the market in 2014, with 80 percent of the FGF asset allocation in growth assets, 15 percent in inflation hedge assets and 5 percent in deflation hedge assets. Within the growth asset category, the NSIA has allocated 25 percent to equities, split 15 percent to emerging markets and 10 percent to developed markets. ‘‘We have also allocated 25 percent to absolute return funds, another 25 percent to private equity funds and 5 percent to other diversifiers. Within the inflation protection assets, we have allocated 10 percent to real assets and 5 percent to commodities. And finally we have retained 5 percent in cash as deflation protection for the portfolio,’’ he said. The Private Equity (PE) fund would also be fully allocated by December, according to Orji. While there was no direct exposure to Nigerian equities for the period, there was a little indirect exposure through investments in Emerging Markets (EM) fund managers with Nigerian assets in their portfolios. ‘’We are not considering direct exposure to Nigerian equities for now,’’ Orji said. businessDay aug.11.2014 |
The core investor of Ughelli Power Plc has invested N65 billion into the power plant, raising the capacity from 170 megawatts, MW to 420MW since the handover of the Power Holding Company of Nigeria, PHCN, assets to successor companies in November 2013. The Chief Executive of Transcorp, Mr. Adeoye Fadeyibi, who disclosed this when the Senate Committee on Privatisation paid an oversight visit to Ughelli Power, said the increase represented 46 percent of the 972MW available capacity. Fadeyibi explained further that the short/medium/long term goal include gradual increase of plant output, while hoping to stabilise energy sent out to conform with industry standards to the plant’s installed capacity of 1000MW by end 2015. He added, “expansion of plant capacity by the installation of 1000MW Greenfield power plant by the end of 2018,” with about 70 percent of its current assets employing US technology. The Chairman of the Senate Committee on Privatisation, Senator Olugbenga Obadara, commended the company over the local content of the management team. In another development, the Committee visited the new Warri Ports where they praised the satisfactory performance of the operators, Messrs Associated Maritime Services, for the excellent development of the infrastructure and commitment to the Concession Agreement. Obadara advised the concessionaire to apply for extension of the concession period to enable them continue with their good works and development of the ports given that the firm has three years left of its 10 year-concession period. Officials of Nigeria Ports Authority, NPA, also attested to the excellent performance of the concessionaire with regard to safety, revenue target, infrastructure development, manpower training and almost 100 percent local content of its personnel. Meanwhile, the Delta State Governor, Dr. Emmanuel Uduaghan, commended the management of Ughelli Power for the level of development and investment within six months of take over. He said that the Delta State Government decided to invest in the power sector so that the profit would be used to subsidise power supply to the rural communities in the state. The Governor, who made the observations when the Senate Committee on Privatisation paid him a courtesy call in Warri, also commended the management of the Benin Distribution Company for its effort at boosting power distribution within its area of operation. He noted that the oversight activities of the law makers would help to keep managers of privatised companies on their toes and ensure returns on investment for the benefit of Nigerians. http://www.vanguardngr.com/2014/08/ |
Railway moves 280,549 tonnes of cargo in 2 years Published on August 9, 2014 by · No Comments The Nigeria Railway corporation moved 280,549 tonnes of cargo between 2012 and 2013, according to a report released by the Ministry of Transport. The report, which focused on the ministry’s activities in 2012 and 2013, was made available to NAN by the Nebolisa Emodi, the Permanent Secretary, in Abuja on Friday. The report stated that in 2012, 182,465 tonnes of cargo were conveyed by rail while in 2013, 98,084 tonnes of cargo were transported. According to the report, 4,155,988 passengers were transported by rail in 2012 and 4,328,789 passengers in 2013. It also stated that the ministry rehabilitated 1,494 kms of narrow gauge in 2012 while 1,931 kms were rehabilitated in 2013. Furthermore, 518.7 kms of standard gauge were constructed in 2012 while 406 km of standard gauge were constructed in 2013, the report said. “The volume of cargoes throughput stood at 77 million tonnes in 2012 and 77 million tonnes in 2013 while 80 million tonnes were being targeted in 2014. “Thirty-four wrecks and derelicts were removed in 2012; six were removed in 2013 while 30 are targeted to be removed in 2014.” On the volume of cargo moved through the inland waterways, it said that 3.4 million tonnes were conveyed in 2012, six million tonnes in 2013 while six million tonnes were targeted in 2014. It also said that 1,308,864 passengers used the service in 2012, 3,350,000 passengers in 2013 while 3, 600,000 passengers were targeted in 2014. It said that the number of boats, ferries, barges and vessels that navigated the waterways increased from 35,136 in 2012 to 39,000 in 2013. The report explained that the amount of cargo conveyed by rail was as a result of a drop in haulage due to the non-completion of the rehabilitation works on haulage carriages. According to the report, track rehabilitation work was carried out on Akere Bridge in Niger state in the Western Line during the period under review. It stressed that the ministry’s focus was on providing safe, secure and adequate inter-modal transport system, to facilitate Nigeria’s socio-economic development and ensure the welfare of members of the public. |
FG commences remodelling of railway stations nationwide Begins with Lagos, 7 other states ABUJA—The Federal Government has commenced remodelling of existing railway stations across the country through Public Private Partnership, PPP, initiative. Disclosing this in Abuja during a visit of the body of Permanent Secretaries, Minister of Transport, Senator Idris Umar said that the Federal Ministry of Transportation is focused on its mandate particularly in respect of the country’s railway system. According to Umar, the first phase of the railway stations project, is to be remodeled and redeveloped to connect, Ebute-Meta in Lagos, to Ilorin, Kaduna, Kano, Port Harcourt, Enugu, Jos and Gombe. File photo: Passengers hanging on a moving train in Lagos at Ikeja Railway Station, Lagos… He said, “Following the lifting of the embargo on rent and lease of Nigerian railway Corporation’s land and landed properties, the redevelopment of the Nigerian railway stations through Public Private Partnership is being processed. ”Transaction Advisers have been commissioned to drive the process for private sector participation”. Umar underscored the modernisation of the railways stations in the country as part of the ultimate solution to the problems hampering the development of the sector. He stated that the advertisements for the expression of interest are expected to be published next month. The minister stated that the Federal executive Council has approved the establishment of six Inland Deep Ports also under the PPP arrangement while the federal government has given its approval of Lekki port while the other five namely Ibaka, Agge, Olokola, Badagry, and Ogidigbe/Escravos deep seaports are being processed. He further stated that the approval of six dry ports have also been given including Isala-Ngwa in Abia state; Ibadan, Kano, Haipang in Jos, Funtua in Katsina and Maiduguri. According to the minister, “We are working seriously to build new seaports in the country because the ports are overstretched particularly Lagos where 60 percent of our cargoes are being handled”. at: http://www.vanguardngr.com/2014/08/ |
Chinas emergency in the world stage would be counted as one of those historical dynamics that changed africa for the better beyond the shackles of Europe. One of the reason I favour multipolar world . |
omololu2020: guy r u now sayin d yorubas in lagos dont know d dia sef,dont let us pway for ethic riot,but if dia z a riot,yorubas n igbos in d north west n oda regions dey find diasef will b killed,yorubas,hausa n oda non igbo livin in d south east would b killed,dats d way it will b in every region,state n local govtThe point is that their is no special/specific distinguishing physical features among different ethnic groups in the country... There is absolutely not one feature for example the Yorubas have that the Ijaw, the Efiks , the hausas does not..... so are you going to kill based on language.,., many non-hausas speak hausa same goes to other ethnic groups.... So who are we really going to ethnic cleanse.... l\ |
suwailad: Liberia, Seirra leone, sudan, somalia, and rwanda should tell you a bit more about insurgency and how it contributes to full blown warI do not see the relationship between those countries named above and BH activities.... That you called BH an insurgency does not mean that they are. |
EasternLeopard: BH attacked LagosOk lets take Lagos for example... How will you distinguish between a Yoruba and a Hausa, an Igbo from a Yoruba or hausa ,or TIV or Ijaw beside the language. So ethnic cleansing might lead to your ethnic group killing their own people e.g. Igbos killing Igbos or Yorubas killilng Yorubas because their is not one perfect physical distinguishable features among Nigerians. |
spikesC: Only Bokoharam activities cannot lead to a declaration of war. Bokoharam is just a tool in the bigger atrocities been committed in Nigeria as a whole.but it still does not tell us who will be ones fighting whom over all those things you enumerated....E.G... If the Yorubas feel cheated who will they direct their fight against, so goes with other ethnic groups... |
@Op your treaties actually is based on the premise that Hausa/Fulanies are war mongers and will fight to dominate other people in their lands.. Keep wondering what elicits this wild or some will say bigoted idea about the Hausa's you presented here |
@Op please can you explain to naivettees like me how BOKO HARAM activity will lead to declaration of War. And how will this be done or carried out |
@Op About this war you are so enthused about ....who will declare this war and against whom. |
Ed Nuckenfuts 11 I've been a mechanic for 30 + yrs. Worked on all kinds from front to back and top to bottom. Most things are basic on all types meaning ( Ford, Chevy, Chrysler, Toyota, VW,s etc....) like steering, breaking, AC, Computer and modules ran feed back sensors, O2 sensors, etc..., theses things are basic in the operation of the real world we live in due to demand by customers or by the standard law in manufacturing building. Now what I'm getting at here is that along time ago when I was in my 20's I ended up with a small Toyota truck, we all remember those little compact 4 cylinder's. Compared to the rest of manufacturing autos at that time there was no comparison to the mileage and dependability that they put out. I was so trusting in them at the time I wound up owing 5 at one time, lol, wife wasn't all that happy though. Now I own 3, Toyota's. My 2001 Tacoma 4 runner, in which, most of you naysayers won't believe or except anyways, got it's first tuneup in the summer of 2012, with the mileage of 200 thousand, (I mean a, trimming belt and water pump (even though it wasn't leaking or running hot, just preventive maintenance) spark plugs, news front seals, valve cover gaskets) This truck still dosnt use or leak any oil, and gets the same gas mileage it always has. Our 2005 Carolla still as good as new, just filter and oil changes, my 2013 tundra, well what can I say. All my buddy's after they ride in or drive it loves it. But to those who's not a wizz in autos, it's about dependability over all. I prefer Toyota. Some say I'm not patriotic for not buying a Ford or Chevy but most of those parts are subbed out to other countries to build or assembled. Who's patriotic here ? To end it all up, I always use synthetic oil and clubs. I'm not trying to convince anyone what to buy, just a 30 + yr mechanic's experience with honesty. |
zeelo2014: Nice. put up more pics.
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tigerleggs: pics or u are on ur own
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tpia1: is that western union?These are my pics.. nairaland has limited attachment
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The very short dash started from Somewhere In Nigeria >>> Lagos >>>Houston >>>Seattle and finally Vancouver to Fulfill a promise to a High School Mate. Back in my beautifull Nigeria Thanks for watching Enjoy [img]https://flic/ps/2czJcZ[/img] please click on the link above for all the pics
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Yungmilio2: okay. I get your pointYou are factually wrong 1. Most ..over 90% of homes in Canada are mortgage...Mortgage means in laymans terms...loans to help one buy a house.. 2. Unemployment in Canada is high...thats why a lot of there professionals ( Dr and pharmacists) are in USA. Most other grads move to Asian to teach English.. Or the middle east as healthcare professionals or teachers Please try to learn more about the country you live in. |
I think the headline is misleading.. Do you mean not colonized by whites |
berem: What makes it "Pride of the Nation"? The slogan will cease to exist when Jonathan steps down in 2015.Remember every part of the country is yours to enjoy..it doesn't matter who is the head of state... |
Sloan: Houston, a city in Texas is oil producing as Bayelsa. Now, I will not even compare them in any way but why on earth can't ALL these roads even be marked and well delineated and landscaped? Yes, I know this was the best or one of the best roads you found and took a picture of but I am surprised you do not see this is a disgrace? Yet Bayelsa has a population of less than 2 M but a budget topping almost all the other states when you factor in their oil derivation component? So, in essence from Alamadeighna and Jonathan and the 2 loonies that came after him, they still could not make one proper marking on that stretch of road? No sidewalk on that very long stretch?Just asking... How old is Houston |
myhero4eva: they can only deceive themselves to defend their wickedness in the face of the world but they can never fool ordinary Nigerians with such false statistics. 70% nigerians are hungry 2dayhow do you know |
Yungmilio2: what is this one saying?1. Not many people in the world can afford to build and own 2 bedroom flat in a city...thats why more people rent than own irrespective of country. 2. Question is how many people go naked in Nigeria for lack of clothes... Even in the USA (just an example) people still donate clothes for ones who cannot afford it. 3. Most Nigerians I guess 60% live in rural communities where they feed off their farms and the issue of hunger is negated.. Secondly in cities, most people square their meals ... if in doublt start and analyse your neighbourhood hunger or feeding index. 4. You for writing on this forum is actually helping to better the country in your own little way....E.g. you pay for electricity to power your phone, you pay MTN for the minutes , you write on this forum and help Seun to employee people to manage it. so you as a person is helping move this country forward just as the ministers in the course of doing their job ( whether you like or not ) has forced investors to look at the country and see whether to put their money in the country ..... and if it happens , more employment, increased income, reduction in poverty... 5. Be happy and enjoy what you do and where you are , because in a little way you are helping to reduce poverty in this country... Its a collective activity. thanks and be well |
Onegai: Osanobua. Please let me mention these economies:I beg to disagree with some of the statements concerning foreign investments in those countries..... Their shares are reduced not because of government induced policies per see but the rising wealth in the society such that indigenes or indigenous companies wealthy enough could buyout some of the shares in the foreign company. E.g. Ford still owns substantial shares in Mitsubishi cars and Reanult basically owns Nissan... The rail in places like Singapore, malaysia, Thailand are deep down Japanese owned concerns with substantial local shares. GE is a very global company and irrespective of where they are located ( might have local management) but overall does not change the structural leanings of the company globally. thanks and be well |
nagoma: You have tried. But I'm amazes at the intellectual bankruptcy on nairaland. No attempt to read or to think at all. So sorry.Kudos to the most insightful and intellectual explanation. Good research. |
Habakus: Please refer to Ihuomadinihu's replies to these your questions; I think they aptly address them.Dates are very important in history to place things in their proper context. Parents said this and grand parents did that does not tell us what generation and the generation that first bore the brunt of the middle Eastern indoctrination... |
Ihuomadinihu: Make i attempt your questions before he replies,lol.1. OK so the Igala man ( who supposedly knows his/her own origin) meet someone ..the aboriginal who cannot remember their origin yet the Igala also cannot recall his own origin which is why we are having this conversation..also your invocating the presence of aboriginals, are you not in essence implying evolutionary emergence of the human within the said environment. 2. Cultural similarities with the Jews by extension means cultural similarities with the Arabs. So why not claim Arabic origin. Could it be because the first white men that your ancestors met were Christians not islamist or Ethiopian orthodox. After all they all share the same cultural affinity of Abrahamic religion. 3. I guess that science have improved so much to give us date of these artifacts..what are they we can start from there. 4. The Igbo's left Africa became Jews ..as a result of what? ... Moses selected them for the conversion? Fought wars on the side of Israel.. Thus made honorary Jews or ?. So please direct us to any text where this conversion took place. There is non in Torah. 5. So they left Israel and forgot their language.religion.place of origin until a white man reminded them. It just doesn't flow. Thanks and be well |
@Habakus 1. Who introduced the Igbo's to the existence of the land called Egypt and Israel. Is it not the white man....By extension it is also the white the imbided in the Igbo's the supposedly "exclusive cultural similarities" between the Jews..a religious group and Igbos. 2. This artifact in existence in Anambra state..where exactly in Anambra state... How old is it.. 3..And don't necessarily buy the idea that we all are from somewhere as ,evidenced from the history of the Khoisan and or the Bantus who evolved right here in good old Africa. 4. So using your analogy who did Eri or NRI meet when he/she "arrived" her. Or did they bring their spouse and kids along |
maestroferddi: What is there to contemplate when you elected to unwittingly, as it were, pooh-pooh intellectual effort on the subject in question.By the very definition and use of the term intellectual... There no way a human being can suppress the intellectual underpinning of another. Its all a matter of presenting your point of view or views to counter any you find disagreeable. I might be wrong . I believe we are merely having a friendly discuss here. Thanks and be well |
maestroferddi: Is it not pathetically ridiculous that you were trying to reduce what is otherwise an ongoing serious scholarly research to rather puerile permutations? Where, if I may ask, do you derive the power for this unsolicited pseudo-arbitration? I would rather you kept your puny prognosis to yourself. Nobody send you...It will highly be scholarly if we all stick to the issues and succinctly present our thesis or augments ....that way I a dummy can also learn from others. Thanks and be well |
@ OP eri1stson last thesis I presume is based on three premises 1. That since the history of migration of humans over the years allover the world is still"shrouded" in secrecy one cannot dispute the fact that the Igbos are not Jews.... citing the migration of the "aboriginals in Australia as an example "The issue of ancient human migration is as mysterious as human race,the inhabitants of dense forests of Australia, New Guinea and New Zealand are black Africans like me and you." Science has shown that the DNA of the aboriginals are closely related to the DNA of Africans compared to any other group. Secondly, the route of the migration seems well defined as the remaants of the DNA is found in southern Indai, cambodia, thailand, Papa New Guniea , Philipines and so on... What is currently debateable is the means and not whether they got there or not 2. The other assumption was that since the Jews may have originated from the valleys of the Nile and Ethiopia... they may have first migrated to "Egypt before heading down to present day Nigeria where they settled. If thats the case, shouldn' t we be looking for association with Ethiopians rather than the current white , Eastern Europe migrants to the current state of Isreal, or moving further why not claim Arabs as your people afterall, they are all Semites as are the Jews.. Secondly the few Igbo DNA ( individual tests) have placed the "tribe" squarely in the Benue, Congo river basin peopled by the " Bantus" . In other words it is more plausible that the Igbos may have natively evolved from their present location and set out to populate other parts of Africa, --- a very compendable achievement considering the immense size of the continent coupled with a history further than the the 3000 year history of the middle east.. Why diminish that feat. Again they might have migrated from the Congo basin or the Cameroons to their present day abode. 3. The other premise is that the Igbos should Align themselves with the Jews because they are a very powerfull group... Why limit yourself , why not align with everyone and make friends with everyone as we know power is very transient.. The power of the Jews is a myth perpertuated by the Nazis and the whites which they used to anihilate them.....If the Jews were all that powerfull why the blatant discrimination being meted to them in Eastern Europe that saw the largest airflight of the Jew ethnic group to USA and Canada in the 80s. whole villages and towns were airlifted to Seattle, Abbotsford, the Dakotas etc. to name a few places.... The so-called "power of the Jews" are rested on USA who are protecting them from the rest of the White populace that have a history of killing and discriminating against them. Assuming that the USA is usurped by China what happens then. 4. Lastly I disagree with Odenigbo in ascribing "Igboness" whatever that means. The Igbos should be fighting to include the Igalas, the Idomas etc and the other groups within the Congo Benue river basin whom they have a closer cultural association with rather than looking towards the Middle east with a mere history of 3000 years compared to the over 70,000 years they have here.... 5. Sorry to say but "intellectual" Igbo Historians are nothing but a complete wash. thanks and be well |
hakunamatata1: that's true if the formwork is made of timber. But if its steel, then the 6inches blockwork is d easiest solution to avoid welding too many joints & corners. I think they wld use steel shutters to pour the concrete. Timber can even fail when it comes to mass concreete.But we are talking of a space ....where there will be no structures. Why provide a structure where there should be non or was there a mistake in the design initially that it has to be corrected....even at that. |
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