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Politics › Re: Rehabilitation Of Enugu-PH Road Raises Hope On Enugu-Onitsha Road by nameo(op): 2:21am On Mar 30, 2013
at least a promise made by the govt was kept. That is a good thing, esp for those peopel in the southeast whose roads are clearly improving.

Some of my friends say the SE roads are improving at a rate higher than at any time since the civil war!! lipsrsealed lipsrsealed lipsrsealed lipsrsealed
Politics › Re: Nigeria Hope For Railway Resurrection- Washington Post by nameo: 2:18am On Mar 30, 2013
eko ilee: ^^^^^^^^^^ You guys are wrong...


http://premiumtimesng.com/news/124876-premium-times-train-trip-lagos-kano-live-blog.html


Premium Times Train Trip Lagos – Kano (Live Blog)
Okay, you are right. PT try. But what of the others.

But let them go and do the one on the ongoing work on the PH-maiduguri line so we can put both the govt and the contractors on the toes, make another story no go enter again. Imagine both the Lagos-kano and PH-maiduguri working; wouldn't that be great?
Politics › Re: Gunmen Kill Nine In Fresh Attack …as Truck Crushes Four Beggars by nameo: 2:13am On Mar 30, 2013
This is too bad. Just too bad.

What is the government doing about this?
Politics › Rehabilitation Of Enugu-PH Road Raises Hope On Enugu-Onitsha Road by nameo(op): 2:08am On Mar 30, 2013
LAST Saturday, James had travelled from Port Harcourt to Enugu. He had expressed surprise on alighting at the Gariki Park in Enugu and had exclaimed, “You mean we are already in Enugu? This is unbelievable!” The last time he travelled on the road (seven months ago), it took the vehicle about six hours to wade through the muddy road to Port Harcourt.

Overwhelmed with joy over the short time it took him to get to Enugu, he declared that the rehabilitation on the road has given much relief to travelers, urging that it should be sustained on all roads across the country.


According to him, what used to be Enugu-Port Harcourt highway and others like that in the South-East had been nightmares to travellers.

This is as a result of ugly scars on the dual carriage roads caused by deterioration of the road that hindered free movement of goods and people. The situation of the road became so deplorable that much harsh and horrendous words were used to describe it, all in an attempt to call attention of federal authorities to the suffering of the masses.

Transporters, who resorted to making detour in villages around the deplorable road to either get to Umuahia, Aba or Portharcourt had threatened action against the government should it fail to rehabilitate the road before December of last year.

On several occasions, men of the underworld laid siege on the highway dispossessing commuters of money and other valuables, especially at the Lokpanta Junction near Abia State, where Hausa Cattle traders now use as parking lot for trailers.

[b]Perhaps, it was in response to this cry by residents and road users that the Minister of State for Works, Bashir Yuguda, toured the road and other federal roads in the zone on September 2, last year, where he stated the desire of the Federal Government to repair them using the Federal Roads Maintenance Agency [FERMA].

He had said that immediate repairs would begin as soon as the rains eased, stressing that the same level of repair would be carried out in other failed roads in the zone with December 2012 as completion deadline.

Yaguda who inspected the Enugu-Onitsha highway, the Ekulu River Bridge, Emene along Enugu-Abakaliki highway and the Enugu-Port Harcourt road, added that the Federal Government had as at then paid N7 billion to the construction company handling the rehabilitation of the Enugu-Onitsha highway and reassured the people of the South East zone of its determination to complete all ongoing road rehabilitation projects in the area.

Travelling through some of the roads last week, especially the Enugu-Port Harcourt, through Abakaliki and Onitsha, it was observed that considerable rescue work had been carried out on the roads, making them motorable again.

It was further observed that the double lanes on the Enugu-Port Harcourt highway had been restored save for an area near Ihube where one of the contractors, Setraco, was still battling to fix[/b].

A traveler, Ndubuisi Ene told The Guardian that the prompt response of government to complaints of the people over the state of the road commendable.

He urged constant monitoring of the roads so that other areas that might give way after the rehabilitation exercise could be taken care of before the total rehabilitation as promised by the Minister.

Early in February, Executive Director, Operations in FERMA, Francis Ikpenwa, was on routine inspection of the 93 kilometer Enugu-Otukpa road. He stated that the agency had introduced a new programme, termed “Preventive and Maintenance” for any road that was recovered to stop it from deterioration and attend to any identified failure immediately.

He said, “We have surveillance unit that ply the roads and makes sure that any identified pothole is attended to on time and in that way, it will reduce much stress. We watch our contractors very closely and we don’t wait until they finish. As they work, they are rated. So if a contractor is not doing very well, we will check him. There are many of them we have dropped while others have done very well. The contractors we have now are working very well.
”

Managing Director of one of the companies working on the roads, Chief Festus Onuh gave kudos to the leadership at the Senate, especially the senate committee on works and FERMA for organising the rehabilitation, supervising the activities of the contractors and ensuring the contractors were paid for the jobs that they did.

He however suggested constant maintenance work on the roads, adding that serious retainership should be put in place for the maintenance of the road.

While praises are being showered on the rescue mission that had restored the Enugu-Port Harcourt highway, efforts should be made to hurry contractors, the CCC and RCC handling various areas of the Abakaliki-Onitsha highway to speed up efforts so as to complete the road before the rainy season peaks.

Till now, users of the highway are still being restricted to one lane of the road, the other lane having been closed completely awaiting rehabilitation
.
http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=117729:repair-of-enugu-port-harcourt-road-raises-hopes-on-enugu-onitsha-highway&catid=3:metro&Itemid=558
Politics › Re: Nigeria Hope For Railway Resurrection- Washington Post by nameo: 2:02am On Mar 30, 2013
why must it be the international media that is informing us about what is going on in our own railway sector? What of our Local media(Punch, vanguard, guardian, nation, saharareports, leadership, and others)?

Shouldn't our Local media be reporting to us on the progress work on the portharcourt-maiduguri rail line that is presenting ongoing, so we can put the authorities and the contractors on the toes?

I tire for 9ja at times o
Politics › Subsidy Scam Fraud: Efcc Gets Restraining Order On Foreign Accounts by nameo(op): 10:34pm On Mar 27, 2013
Chairman of the Economic and Financial Crimes Commission (EFCC), Mister Ibrahim Lamorde said the Commission had secured a restraining order on the United Kingdom accounts of some fuel subsidy fraudsters.

Speaking when the British High Commissioner to Nigeria, Doctor Andrew Pocock paid him a courtesy visit, Mister Lamorde explained that the EFCC was formalising ways of getting the funds forfeited and repatriated to Nigeria.

The EFCC chairman said the restraining order secured by the Commission in the UK was as a result of the wonderful relationship the Commission had enjoyed and is still enjoying from the UK in recent times.

Earlier, Doctor Pocock had observed that owing to corruption in allocation and delivery process, cost of infrastructure in Nigeria has been three times higher than it ought to be.

He, however, expressed optimism that if Nigeria got it right in the power sector privatisation, the country would be on the verge of an industrial revolution.
http://www.channelstv.com/home/2013/03/27/subsidy-scam-funds-efcc-gets-retraining-order-on-foreign-accounts/
Politics › Sanusi Lauds Oduah And FG Over Dry Terminal For Kano Airport by nameo(op): 12:09am On Mar 19, 2013
Governor of the Central Bank of Nigeria, CBN, Sanusi Lamido Sanusi, has commended Federal Government’s plan to build dry and perishable cargo terminal in Kano, adding that viable airports would contribute to the growth of the nation’s economy.

Mallam Sanusi said this, weekend, during the commissioning of the newly-remodelled international terminal at the Mallam Aminu Kano International Airport, Kano.

[b]He said such a terminal would give farmers a direct link to both domestic and international market, where they would maximise earnings for their produce.

He said: “For me, as an economist and as the Governor of Central Bank of Nigeria, dry and perishable cargo terminal is the most important and visionary step that the Aviation Minister has taken.

“Airports are not just to carry human beings from Lagos to Kano. It is not just there to make travel easy and comfortable experience for individuals.

“Kano is an agricultural state. It used to contribute 60 percent of the total revenue of the northern region. The only way agriculture is going to come back is for farmers to be linked to the markets.

“I have had the benefit of looking through some tomato survey, feasibility study. There was somebody that I consulted and he said to me, ‘do you know that tomato actually costs more in Lagos and Port Harcourt than in London?’

“In other words, if a farmer can produce tomato in Kadawa and put it on a plane every morning in Kano to get to Lagos or Port Harcourt, he should earn more than you will get it in the supermarket in the UK.”

Sanusi commended the efforts of the Minister of Aviation, Stella Oduah, adding that if other Ministers had been working with the same commitment as Oduah, Nigeria would have been transformed.

“Many people have asked me, how come the Central Bank of Nigeria seems to be always constantly supporting aviation. The reason is that Central Bank of Nigeria supports public servants that are doing something. And the advantage of doing something is that people can like you or not like you; they may agree with you or not agree with you; they cannot take away from you what you have achieved. There is no one that can go to Kano airport or Kaduna airport or Enugu airport or Port Harcourt airport or Lagos airport and claim that things are not happening. ”

Sanusi described the planned cargo terminals as great opportunity for opening up entire population and linking them up to the markets, adding that the idea of dry and perishable cargo terminal recognises that airports are parts of the economic development of a nation.[/b]

“I will like to congratulate the Minister for having that vision. This is something that I am sure the people of Kano will welcome and would like to see actualised as quickly as possible.”

“For those who may believe that the Ministry of Aviation does not want international airlines to come to Kano, the question is, if the Ministry didn’t want international airlines to come to Kano, why would they be building an international terminal? So, building an international terminal will take as evidence of a commitment to encourage the airlines to come.”
http://www.vanguardngr.com/2013/03/sanusi-lauds-fg-over-dry-terminal-for-aminu-kano-airport/
Politics › Re: Remodelled Mallam Aminu Kano Airport (Pictures) by nameo: 12:04am On Mar 19, 2013
Governor of the Central Bank of Nigeria, CBN, Sanusi Lamido Sanusi, has commended Federal Government’s plan to build dry and perishable cargo terminal in Kano, adding that viable airports would contribute to the growth of the nation’s economy.

Mallam Sanusi said this, weekend, during the commissioning of the newly-remodelled international terminal at the Mallam Aminu Kano International Airport, Kano.

He said such a terminal would give farmers a direct link to both domestic and international market, where they would maximise earnings for their produce.

[b]He said: “For me, as an economist and as the Governor of Central Bank of Nigeria, dry and perishable cargo terminal is the most important and visionary step that the Aviation Minister has taken.

“Airports are not just to carry human beings from Lagos to Kano. It is not just there to make travel easy and comfortable experience for individuals.

“Kano is an agricultural state. It used to contribute 60 percent of the total revenue of the northern region. The only way agriculture is going to come back is for farmers to be linked to the markets.

“I have had the benefit of looking through some tomato survey, feasibility study. There was somebody that I consulted and he said to me, ‘do you know that tomato actually costs more in Lagos and Port Harcourt than in London?’

“In other words, if a farmer can produce tomato in Kadawa and put it on a plane every morning in Kano to get to Lagos or Port Harcourt, he should earn more than you will get it in the supermarket in the UK.”

Sanusi commended the efforts of the Minister of Aviation, Stella Oduah, adding that if other Ministers had been working with the same commitment as Oduah, Nigeria would have been transformed.

“Many people have asked me, how come the Central Bank of Nigeria seems to be always constantly supporting aviation. The reason is that Central Bank of Nigeria supports public servants that are doing something. And the advantage of doing something is that people can like you or not like you; they may agree with you or not agree with you; they cannot take away from you what you have achieved. There is no one that can go to Kano airport or Kaduna airport or Enugu airport or Port Harcourt airport or Lagos airport and claim that things are not happening. ”

Sanusi described the planned cargo terminals as great opportunity for opening up entire population and linking them up to the markets, adding that the idea of dry and perishable cargo terminal recognises that airports are parts of the economic development of a nation.[/b]

“I will like to congratulate the Minister for having that vision. This is something that I am sure the people of Kano will welcome and would like to see actualised as quickly as possible.”

“For those who may believe that the Ministry of Aviation does not want international airlines to come to Kano, the question is, if the Ministry didn’t want international airlines to come to Kano, why would they be building an international terminal? So, building an international terminal will take as evidence of a commitment to encourage the airlines to come.”
Politics › New Sugar Policy Spurs Local Investors, Set To Reduce Importation by nameo(op): 11:59pm On Mar 18, 2013
The newly introduced sugar policy, comparable to the backward integration policy in the cement industry, has been attracting applause from stakeholders in the sugar industry. The backward integration for the cement industry introduced in 2002 boosted local production of cement from 2.0 million metric tons per annum in 2003 to 18.5 million metric tons per annum in 2012. Additional 12 million metric tons are yet being expected from the expansion, while new plants are currently under construction across the country by the manufacturers.

The policy changed the country’s position from a leading importer of cement to that of being self-sufficient as well as a potential net exporter of the product. It is based on this success story that news of the new fiscal policy measure for the sugar sector recently introduced by the government, through the Central Bank of Nigeria (CBN) has started generating excitement among stakeholders in the sugar industry.

The new policy, which came into effect January this year, was convened through a circular signed by the CBN’s Director of Trade and Exchange Department, W.D Gotring.

The policy stated, “Any importation of equipment that will be used for the manufacturing of sugar is duty-free and there is a tax holiday for five years. Raw sugar (H.S Codes 1701.1100.00-1701.1200.00) shall attract an import duty rate of 10 per cent plus levy of 50 per cent, while refined sugar (H.S Codes 1701.9110.0-1701.9990.0) shall attract an import duty of 20 per cent plus a levy of 60 per cent.”

Reacting to this development, Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) lauded the policy and described it as a bold step which if well implemented might have numerous multiplier effect on the sugar sector.

“If we don’t want to move backward, we should take our destiny in our own hands to reduce importation, save the naira and the exchange rate and give jobs to our people,” said Mr. John Isemede, Director General, NACCIMA.

According to him, the private sector strongly believes that with these incentives, new investors will come into the sector, while the existing ones might expand their operations and many people will be employed. “Those who are service providers, those who are into agro chemical and implements will have jobs,” he emphasized.

However, he cautioned that priority should be given to Nigerian companies and individuals, especially the five years tax holiday, so that “We do not leave our gate open for people to come in only to invest and after four, five years because you have given them pioneer status, they will relocate to neighbouring countries.

“There should be a road map and it should be properly monitored so that we do not solve one problem and create multiple other problems. So, the position of NACCIMA or the OPS is that it is a welcome development because it will create jobs, it will reduce the price of sugar, the agro-chemical, and even those that are providing the implements will have jobs. In addition, it will help the country to move from this present level of granulated sugar to cube and brown sugar, the one used for cake-making and things like that. So, it is a welcome development”.

He noted that existing companies in the sector, like Dangote Sugar Refinery and BUA Sugar Refinery are into pack sizes now, and they have big sugar cane farms already. “Dangote has a big farm in Numa, Adamawa State, which is the Savannah Sugar Company. So, they can now continue to invest more. You heard of Bacita Sugar, there is one in Hadejia and there is another one in Kwara. So, these are opportunities that we have to tap into to develop our economy,” he said.

Sameer Vaswani, Managing Director, A &P Foods Limited, manufacturers of HAANSBRO brand of biscuits, chewing gums and sweets, also hailed the policy.

Vaswani noted “The three main raw materials required for biscuit production are flour, sugar and palm oil. The long-term policy of encouraging local sugar cane plantations and growing of sugar cane locally is a fantastic policy but it needs time. Sugarcane planting and harvesting cannot just start overnight.”

In order to ensure availability of sugar cane, Dr. Latif Busari, Executive Secretary, National Sugar Development Council, Abuja, disclosed that plans are being concluded for the citing of 236,000 land banks in seventeen states for sugarcane production.

He identified the states to include Zamafara, Katsina, Kwara, Kogi, Jigawa, Imo, Edo, Cross River and Benue. Other states are Taraba, Ogun, Plateau, Ondo , Anambra and Adamawa.

According to him, the sugar industry is a promoter of investment, job and wealth creation and a tool for rapid rural development as it creates communities that are self- sufficient.

As an example, he said that in India, the sugar industry employs one million people directly and six million indirectly, stressing that it is what it will do for Nigeria.

He also said that the Federal Government should discuss with the state governments to make land available to existing and prospective investors for the project. He noted that the expected cost of implementing the project is about $3.1 billion, with the objective of raising local sugar production to attain self -sufficiency as in the cement sector, and stem the tide of importation of raw sugar as well as contribute to the production of ethanol and generation of electricity.

Minister of Trade and Investment, Mr. Olusegun Aganga, noted that compared to other West African countries, Nigeria produces two per cent of the 2.5 million metric tons of sugar required for its 165 million populations while over 75 per cent of raw sugar is imported and granulated by few investors in the nation’s sugar sector. This makes the county the lowest sugar producer in the region; this is in spite of the availability of abundant raw materials for sugar production across the country.

For instance, Benin Republic produces 25.6 per cent of its sugar requirement; Burkina Faso, 47 per cent; Cote d’Ivoire 54 per cent; Senegal, 48 per cent and Mali, 28 per cent.
http://www.vanguardngr.com/2013/03/new-sugar-policy-spurs-local-investors-to-action-set-to-reduce-importation/
Politics › Re: ORONSAYE REPORT: FG Begins Implementation Finally, Trims 100bn From Budget by nameo(op):
A week or so ago, I saw this article, which I believe is also in the spirit of the Implementation of this Oronsaye's Report.

But the question is: is this the full implementation of the report? Does anybody here have the report?


President Goodluck Jonathan has ordered the restructuring of the Office of the Head of Service of the Federation to enable it fast track the development of the country.

He made this known in Abuja on Friday at a formal send-off ceremony for two past Heads of Service of the Federation, Mr Stephen Oronsaye and Prof. Oladapo Afolabi.
The president was represented by Vice President Namadi Sambo.

He said his administration was committed to the transformation of the service into an enviable and modern institution capable of supporting the political leadership in its effort to fast track the development of Nigeria.

``It is in line with this thinking that I have recently approved the restructuring of the Office of the Head of the Civil Service of the Federation to enable it drive the transformation of the service. It is envisaged that at the end of the restructuring, the present five office structure would be reduced to three.

``It will lead to slimmer, more efficient and fit-for-purpose organisation devoid of overlaps, duplications and fragmentation, more responsive and better able to provide quality management, direction and guidance to the Federal Civil Service,” he added.

He, therefore, urged the Head of Civil Service of the Federation to ensure that the implementation of the restructuring of his office was carried out to the letter.

Jonathan said that ``this is to enable our quest for a responsible civil service and one that takes cognisance of the need to deliver is achieved.
http://dailytimes.com.ng/article/jonathan-orders-restructuring-office-head-service
Politics › ORONSAYE REPORT: FG Begins Implementation Finally, Trims 100bn From Budget by nameo(op): 1:49am On Mar 10, 2013
The federal government is to save a whopping N100 billion from reduced allocation to Ministries, Departments and Agencies (MDAs) with overlapping functions.

[b]The government, which has started implementing the Steve Oronsaye Report which proposed the scrapping or merging of such MDAs began in the 2013 budget to trim allocations to agencies with duplicate functions, since scrapping them cannot be implemented immediately. The expected result of this budgetary slash for the affected MDAs will be a saving of about N100 billion in 2013 by the government.

Coordinating Minister for the Economy and Minister for Finance Dr. Ngozi Okonjo-Iweala, who made this known at the 2013 budget briefing in Abuja, said that some the MDAs were created by Acts enacted by the National Assembly, accordingly, only a repeal of the Act can scrap them.

Okonjo-Iweala, said “we are continuing the roll-out of Integrated Personnel Payment Information System (IPPIS) across all MDAs which will result in savings in personnel costs. In the spirit of the Oronsaye Report, we have started trimming down allocations to agencies with duplicate functions. For the 2013 Budget, this resulted in about N100 billion of savings, and we hope to have even greater savings in 2014” she said.

However, since some of these agencies with duplicate functions were established legally, the minister of finance said the executive “will require the support of the National Assembly in reviewing the relevant legislations before we implement the rationalisation exercises.”

The minister said that the cost of governance had reduced adding that for instance, the share of recurrent spending in total expenditure has reduced from 74.4 per cent in 2011 to 67.5 per cent in 2013 She said the government had sustained its policy of re-balancing its expenditure in favour of capital investment over the medium term. She said, “The share of recurrent spending in total expenditure has reduced from 74.4 per cent in 2011 to 67.5 per cent in 2013[/b].

“Similarly, capital spending as a share of total expenditure has increased from 25.6 per cent in 2011 to 32.5 per cent in 2013.”

http://www.leadership.ng/nga/articles/49501/2013/03/08/fg_slashes_n100bn_allocation_mdas_overlapping_functions.html
Politics › Korea Firm Acquires 70% Egbin Power Plant, Chinese Firms Acquires 2 Others by nameo(op): 2:54am On Mar 01, 2013
[b]The National Council on Privatisation on Thursday approved the sale of 70 per cent of the Federal Government’s stake in the Egbin Power Plc, Lagos.

The Chairman of the council’s Technical Sub-committee, Mr. Atedo Peterside, disclosed this to State House correspondents at the end of its meeting presided over by Vice President Namadi Sambo.

Peterside said the plant would be sold to KEPCO for $407.3m.

He recalled that the transaction was conceived in 2007 when the Federal Government initially agreed to sell 51 per cent of the plant.

Peterside said, “What we have done today (Thursday), after negotiations and approval by the NCP, is to agree to sell 70 per cent of the plant to KEPCO, which is a South Korean company.

“KEPCO will pay $407.3m. At the time the transaction was done in 2007, Egbin was valued at $549m and they actually paid a deposit of 10 per cent of the amount based on that valuation.

“Based on that valuation, we have agreed to more or less ratify that previous transaction. But we have done the valuation and increased the transaction cost, and they are paying a larger sum of money. The evaluation that we have done with Egbin at a value of $670m is higher than the original evaluation of $549m.

“In total, they are going to pay $407m to the Federal Government and the evaluation was comparable to the evaluation that was done for Geregu, Sapele and Ugheli Power plants.”

Peterside said the government also resolved to sell the Omotosho and Olorunsogo Power plants to the Chinese companies that built them.

He recalled that the plants were already under construction at the time the government decided to privatise the power sector; therefore, a decision was taken that the construction firms should be given rights of first refusal to buy the plants.

Under this arrangement, he added that the firms would pay the balance of the money the government had already paid them for the construction.[/b]

With this transaction, Peterside said every power plant now had a core investor except for Afam.

The Minister of Communications Technology, Mrs. Omobolanle Johnson, said the NCP approved a reform bill for the Nigeria Postal Service to make it perform better in postal regulation and operating activities, and contribute more to the nation’s Gross Domestic Product.

She said the bill would be sent to the Federal Executive Council for deliberation and transmission to the National Assembly.

The Minister of Mine and Steel Development, Mr. Musa Sada, said the NCP deliberated on the report on the progress being made by the Attorney-General of the Federation, Mr. Muhammed Adoke, on the issue of arbitration that was delaying the privatisation of the Ajaokuta Steel Plant and Aluminium Smelter Company of Nigeria.

Sada said progress was being made in the efforts aimed at reaching an out-of-court settlement.

He said, “We are beginning to see that very soon, we are likely to conclude some of those issues, such that the BPE will take full charge of these two important facilities and ensure they are appropriately privatised, not the way it happened before that is now putting us into these issues.

“This time, it will be in such a way that they will come back to contribute the way that they are expected to as major industrial backbone of the Nigerian economy.”

The Acting Director-General, Bureau of Public Enterprises, Mr. Benjamin Dikki, said the council also considered and recommended five bills in the transport sector for the ratification of the Federal Executive Council and onward transmission to the National Assembly.

Also on Thursday, Amperium Consortium, presented a confirmation of payment of $33m, including local component of N519.12m into the bank account of the BPE.

The payment was the 25 per cent down payment required for the consortium to acquire 51 per cent of the Geregu Power Plant.

The bid winners for the power plants were earlier given 15 days within which to make the down payment.

Amperium Consortium was the first to make the payment
.

- See more at: http://www.punchng.com/business/business-economy/fg-sells-70-of-egbin-power-plant-to-kepco/#sthash.FVKJyeAa.dpuf
Politics › GE Makes Nigeria Its Africa's Hub,builds $1billion Manufacturing Plant In Calaba by nameo(op): 1:40am On Feb 02, 2013
The Federal Government and General Electric (GE) Company of the United States Thursrday sealed a $1 billion (N158 billion) investment deal on the establishment of a new manufacturing and assembly facility in Calabar, the Cross River State capital.

The investment milestone also came on a day an indigenous power company, Geometric Power Limited signed a Joint Development Agreement (JDA) with US power firm, General Electric Company (GE) for the development of a 450 megawatts (MW) thermal power plant to be sited in Aba, Abia State.


Speaking on the $1 billion deal, Minister of Trade and Investment, Mr. Olusegun Aganga, who signed the Memorandum of Understanding (MoU) on behalf of the Federal Government, with the Global Chairman and Chief Executive Officer of GE, Mr. Jeff Immelt, signing on behalf of the company, said GE’s proposed investment in Nigeria was based on the country’s positive macroeconomic indicators.

It was gathered that the deal, which comprises $250 million capital expenditure and about $800 million incremental spending on local sourcing of goods and services, is expected to create 2,300 jobs and make Nigeria the regional hub for GE’s manufacturing service and innovation in Africa.
The deal will also support the company’s power generation, oil and gas production and exploration activities.


While noting that GE’s proposed investment in Nigeria was based on the country’s positive macroeconomic indicators, Aganga said: “This is the beginning of many more investments that will come from GE and we are committed to providing a conducing investment climate for both GE and other foreign investors. I want to congratulate GE for making the right decision by investing in Nigeria because our country has one of strongest macroeconomic environments with average Gross Domestic Product growth of seven per cent in the last 10 years.”

According to him, “GE’s size of investment, which is $250 million, for the outset, and $1 billion over the next five years, is significant in every respect. It is far more important because the investment is in critical areas of our economy, which is power infrastructure. This investment will support our Industrial Revolution Plan, which is based on the areas where we have competitive and comparative advantage.”

Continuing, the minister said: “There is no nation that has moved from being a poor nation to a rich one by exporting raw materials without a strong industrial base and efficient services sector. Nigeria has the raw materials and the market to become, not just number one in Africa, but among the top 10 globally. That is what our Industrial Revolution Plan seeks to achieve. It seeks to link those industries with industrial skills development and innovation.

“The days for exporting raw materials and jobs are gone. This is a new Nigeria, and a new Africa. I am delighted that GE is leading that effort on behalf of the globally investors. Again, this investment is going into the Free Trade Zone (FTZ), which is under my ministry. So, by investing in the Free Trade Zone, GE is supporting the Federal Government’s Policy for creating the FTZs, which is to industrialise the country, create jobs and generate wealth. Therefore, we are committed to making it far more efficient and supportive for foreign investors.”

Speaking during the event, Immelt said the new investment would also take care of additional investment in the service workshops in Port Harcourt and Onne and was at the point of execution.

He stated that the investment was a demonstration of the company’s confidence in the Nigerian economy.
He said: “The time is now and the place is Nigeria. The government of Nigeria has made significant progress in its economy within the last few years. GE, as a global infrastructure company, will be investing $1billion in Nigeria within the next five years, which will create about 2,300 jobs. We see a lot of opportunities in Nigeria. Where we are now is the point of execution.

“We are committed to playing our part in the sustainable growth of Nigeria and the positive impact this will have on Nigeria and the continent of Africa as a whole.”


Meanwhile, it was gathered that the JDA demonstrated GE’s commitment to partner indigenous power firms to grow Nigeria’s power generation capacity as well as brings to full realisation, earlier plans by the company to develop with Nigerian power companies up to 10,000MW of electricity in the country.
It was also gathered that the agreement was signed on behalf of GE by its Global Chairman and Chief Executive Officer (CEO), Mr. Jeff Immelt, while the immediate past Minister of Power, Prof. Barth Nnaji, signed for Geometric, which he founded to develop model power projects in Nigeria.

THISDAY gathered that Geometrics is also on the verge of inaugurating its 140MW integrated power system in Aba.
It is understood that the 450MW plant to be built with GE would cost $500 million and both companies are expected to bring in their respective strengths to achieve synergy in reaching financial closure for the project as quickly as possible.

They are equally expected to within the JDA employ technologies from GE in the full realisation of the project.
Nnaji in an interview asked indigenous and foreign electricity firms operating in Nigeria to take advantage of immense opportunities provided by a series of MoU signed by the Nigerian government and international investors in the last one year to accelerate the development of the power sector.

He listed such MoUs from which international and indigenous firms could tap from as the MoU between the Federal Government and GE for the latter to participate in the building of brand new plants to generate 10,000MW as well as the agreement with the United States Export-Import (EXIM) Bank to provide $1.5 billion credit facility to firms using American goods and services.

Nigeria also signed MoUs with Siemens of Germany and Daewoo of South Korea to help establish power plants to generate 10,000MW each.
“By entering into a development partnership with GE, we have taken a concrete step to give a practical expression to the MoUs which international investors signed because of their growing confidence in the Nigerian economy, especially the ongoing power sector reform which President Goodluck Jonathan is pursuing religiously in the interest of all the Nigerian people. The plant will be ready in not more than three years,” Nnaji said.


While explaining the difference in GE’s roles in the establishment of the 140MW Aba power project which would be inaugurated in March and the new 450MW, Nnaji said: “GE supplied us the turbine and we chose GE because it is the best in the world, but this time GE will be deeply involved in the funding, the technologies, and deployment of human capital as well as ownership.”

Speaking further, he said: This is the kind of Foreign Direct Investment (FDI) which Nigeria needs, and this is why I want other players in the fast growing electricity business in Nigeria to start to take advantage of the tremendous investment opportunities unleashed by both the power sector reform and the MoUs to work for the rapid growth of our national economy by helping the sector to leapfrog; electricity is central to our national development.”

The former minister also decried Nigeria’s practice of investing abroad saying: “Capital flight does no one any good, return on investment in Nigeria is, frankly speaking, much higher than in most countries of the world. It does seem that many of our people do not seem to fully appreciate yet the great opportunities which perceptive, far-sighted and careful international investors have now identified in Nigeria.

“It speaks volumes that GE, a Fortune 500 company which was in 2011 ranked the sixth largest company in the US by gross revenue and is a big brand in energy, technology infrastructure, capital finance, consumer and industrial products, is now taking a radical interest in our country.”

http://www.thisdaylive.com/articles/fg-seals-1bn-deal-on-electric-manufacturing-assembly-plant/138100/
Politics › Re: FG Hands Over PHCN Power Cops To Private Bidders In 2 Weeks- Anyim by nameo(op): 5:12am On Jan 26, 2013
This will be so sweat if this is true. Private hands need to take over the sector asap
Politics › Re: Five Power-Injection Stations Commissioned In Ibadan by nameo: 4:58am On Jan 26, 2013
Hmmm? Its like most of the power projects would really come on stream this year like they said. The number of such projects on this section today testifies to that.

We Pray o.
Politics › FG Hands Over PHCN Power Cops To Private Bidders In 2 Weeks- Anyim by nameo(op): 4:50am On Jan 26, 2013
Secretary to the Government of the Federation Anyim Pius Anyim said yesterday that the federal government would in two weeks conclude the privatization and handing over the nation’s power sector to private firms for management.
Anyim, who was speaking to newsmen in Lagos on the proposed Nigeria’s centenary celebration said the federal government is on the final stage of the agreement with the new owners and that they at the concluding stage and would formally hand over the generation and distribution companies to the new investors.
“The hand-over will be done in two weeks and we expect to see stable power supply soon,” he said.
The Bureau for Public Enterprises (BPE) said last year that it received of $335.85 million from 16 preferred bidders for both distribution and generation companies
.
The preferred bidders for the Discos submitted bank guarantees worth about $188.48 million, while the preferred bidders for the Gencos submitted bank guarantees of about $147.38 million.
The breakdown of the guarantees is as follows:
Discos include; Abuja Disco: Kann Consortium Utility Company Ltd - $24,600,000.00; Benin Disco: Vigeo Power Consortium - $19,350,000.00; Eko Disco: West Power and Gas - $20,250,000.00; Enugu Disco: Interstate Electrics Ltd - $18,900,000.00; Ibadan Disco: Integrated Energy Distribution and Marketing Ltd - $25,350,000.00; Ikeja Disco: NEDC/KEPCO Consortium - $19,650,000.00; Jos Disco: Aura Energy Ltd - $12,300,000.00; Kano Disco: Sahelian Power Ltd -$20,550,000.00; Port Harcourt Disco: 4Power Consortium - $18,636,306.00; and Yola Disco: Integrated Energy Distribution and Marketing Ltd - $8,890,000.00.
GENCOs are Shiroro Hydro Power Plc: North-South Power Ltd - $16,748,180.00; Kainji Hydro Power Plc: Mainstream Energy Solutions - $35,680,500; Sapele Power Plc: CMEC/EURAFRIC Energy Ltd - $30,150,000.00; Geregu Power Plc: Amperion Power Distribution Limited - $19,800,000.15; Ughelli Power Plc: Transcorp/Woodrock/Sumbion/Medea/PSL/ Thomassen -$45,000,000.00
http://www.dailytrust.com.ng/index.php/business/49272-fg-hands-over-power-to-private-firms-in-2-weeks-anyim
Politics › Re: GEJ Has Done It Again. by nameo: 3:47am On Jan 26, 2013
grin grin grin grin grin grin
Politics › Re: Critical Comatose Textile, Cotton Sector Regains Breath by nameo: 3:43am On Jan 26, 2013
This is obviously Good.

But what about the farmers? Are they receiving from this fund?
Foreign Affairs › Re: The Facts And Fallacies Of The War In Mali by nameo: 2:22am On Jan 26, 2013
The guy is obviously an Ideologue. Dont pay much attention to him
Politics › Re: Things That GEJ Has Done In Your City/state In 2 Years by nameo: 2:19am On Jan 26, 2013
I dont have any thing to say, LOL
Politics › Re: JTF: We Have Cut Oil Theft By 84% In Niger Delta by nameo(op): 2:16am On Jan 26, 2013
Wasn't this what the President was asked in that CNN interview- what is the name of the newscaster again?

Is there any collaborating evidence for this or is it that its only within Bayelsa that this huge reduction have been seen?
Politics › Re: SSS Arrests Masterminds Of Jaji Bombing by nameo(op): 11:47pm On Jan 18, 2013
SSS should arrest and kill more of these extremists.

Yesterday, JTF killed 5 terrorists who attacked their position in Kano and just also busted another terrorist cell in Gombe. This is how it is supposed to be.

Kudos to our Security services.
Politics › Re: Strategic Nnpc Benin Depot Finally Reopened by nameo: 10:38pm On Jan 18, 2013
I actually wanted to post this article from the Nation Newspapers on this retooled Benin Depot in a new thread, but since this thread already exists I decided to post it here in stead:

A strong feeling of appreciation and re-awakening ran through the historic city of Benin in Edo State yesterday as Minister of Petroleum Resources Mrs. Diezani Alison-Madueke re-commissioned the strategic Benin Depot of the Pipelines and Products Marketing Company (PPMC) which has been out of operation since 2005.

Governor Adams Oshiomhole said with the re-activation of the Benin Depot by the minister, the Federal Government has demonstrated its resolve to sustain the ongoing reforms in the oil and gas industry.

“The minister has demonstrated that indeed good things can come from the Petroleum industry as well as the NNPC,” he said.

Oshiomole recalled how he had to embark on what he termed a ‘pilgrimage’ to the Warri Refinery at the inception of his administration, to solicit for the supply of petroleum products to the state. “I thank God that I don’t have to make such long walk to Warri again because the Benin depot is back to service.” he said.

The governor pledged to mobilise the resources as well as the people of Edo State to combat the issue of pipeline vandalism which he described as a national menace.


Declaring the depot open for operation, Mrs. Alison-Madueke noted that the revamping of the Benin depot is a single item in a long list of practical measures designed by the President Jonathan’s administration to sanitise the downstream sector of the oil and gas industry.

She said: “As an industry, we are extremely satisfied that the transformation agenda of the President in the oil and gas industry is coming to fruition. We are grateful to the Joint Task force for the level of support they have given the petroleum sector especially in the area of pipeline vandalism. It clearly shows how successful we can be as a people if we come together to combat a scourge.”

Group Managing Director of the NNPC Andrew Yakubu said in the months ahead, the drive to revitalise the nation’s petroleum products depot will be sustained with the re-opening of the Gombe and Jos depots. “We have re-commissioned Mosimi, Aba and now Benin. But the good news is that we are not going to stop here, very soon we shall be in Gombe, Jos and other depots. In fact, we are not going to stop until the 21 depots become fully operational,” he said.

Describing the depot revamping project as NNPC’s contribution to the transformation agenda of the Federal Government, Yakubu urged stakeholders to support the corporation in its quest to combat the incidence of pipeline vandalism.


Similar commendations came from the leadership of the Edo State chapters of the Independent Petroleum Marketers Association (IPMAN) and the Petroleum Products Tanker Drivers Association.

Constructed in 1978 and inaugurated on August 30,1979, the Benin depot has 17 storage tanks with a combined design capacity to store 121, 720,000 litres of petroleum products including premium motor spirit, household kerosene and automotive gas oil. The facility has nine loading arms. The depot serves as a link for products evacuation from the Warri Refining and Petrochemical Company through a 16-inch pipeline traversing 89.9km.
http://thenationonlineng.net/new/news/benin-oil-depot-back-in-operation/
Politics › SSS Arrests Masterminds Of Jaji Bombing by nameo(op): 10:20pm On Jan 18, 2013
https://photos-f.ak.fbcdn.net/hphotos-ak-ash4/394892_486206894770771_356574535_n.jpg
50 year old yam hawker from Jalingo, Taraba state who allegedly acts as a motivational preacher for members of the Boko Haram Sect in Kaduna state has been paraded by the SSS.

Addressing a news conference in Abuja, the Deputy Director, Public Relations of the SSS, Marilyn Ogar, explained that the suspect, Mohammed Idris also conducts surveillance on selected targets using the cover of a yam hawker.

“Following the incident, a thorough investigation was initiated by this service and the military which led to the arrest of some suspected masterminds of the attack,” spokeswoman for Nigeria’s secret service” Mrs Ogar said.

15 lives were lost in the twin attack on the Saint Andrew military protestant church located within the premises of the Armed Forces Command and Staff College.

Also paraded is 18 year old Ibrahim Mohammed from Osun state who confessed to actively participating in several attacks in Kaduna state including the suicide bomb attack on St Rita’s Catholic Church in Badarawa area of the state.

“Mohammed and Idris will be handed over to the military for further investigation. However, other suspects apprehended in the same vein are still being … (questioned).”
http://www.channelstv.com/home/2013/01/18/jaji-bombing-sss-parades-2-suspects/
Politics › Re: Defence Minister Collapsed At Armed Forces Remembrance Day by nameo: 11:24pm On Jan 15, 2013
why?
Politics › Poverty Rate In Nigeria Reduces, Now 46%- WORLD BANK by nameo(op): 11:17pm On Jan 15, 2013
The World Bank Vice President after a meeting with President Goodluck Jonathan on Tuesday disclosed that by the World Bank’s own criteria and assessment, the level of poverty in Nigeria had actually declined from 48 per cent to 46 per cent under the present administration.

He however noted that Nigeria’s GDP growth rate of eight per cent is not sufficient to reduce poverty in the country.

Mr Diop said the Nigerian government can further reduce poverty in the country by tackling the problem of inadequate electricity supply.

He stated that the World Bank would be releasing Nigeria’s economic report next month.

The report is based on the World Bank’s assessment of the Nigerian economy.


Meanwhile the federal government has reaffirmed its commitment to the implementation of all reforms considered necessary for accelerated economic growth, job creation and poverty alleviation in Nigeria.

President Goodluck Jonathan stated this when he received the World Bank’s Vice President for Africa, Mr. Mouktar Diop, on Tuesday in Abuja.

The President stated that although it was not easy to undertake certain reforms in an intensely political environment, the federal government under his leadership will continue to evolve and implement policies that will assure sustainable development and the long-term well-being of the nation.

Acknowledging Mr. Diop’s commendation of his administration’s stewardship of the Nigerian economy, the President said that with the continued support of the World Bank, other international institutions and investors the federal government will achieve an even higher growth rate for the national economy.

The President said that Nigeria will particularly welcome more support from the World Bank for the concluding stages of its power sector reforms especially for the speedy resolution of labour issues and other matters related to the on-going privatization of the sector.

Mr. Diop commended on-going reforms in the country and the management of the Nigerian economy by the Jonathan Administration which he said had made Nigeria one of the fastest growing emerging economies in the world in spite of the current global recession.

Speaking to state house correspondents after the meeting Mr. Diop assured President Jonathan that the World Bank will “use all instruments available to it” to support Nigeria’s power sector reforms, saying that he had a clear brief from the bank’s President to give all necessary support for the reforms.

http://www.channelstv.com/home/2013/01/15/nigerias-poverty-level-falls-by-2-world-banks-vp/
Politics › Re: Saboteurs In Government Condoning Terrorism By Boko Haram – Jonathan by nameo: 9:46pm On Jan 14, 2013
hmm?
Politics › JTF: We Have Cut Oil Theft By 84% In Niger Delta by nameo(op): 2:54am On Jan 14, 2013
The Commander of the Joint Task Force in the Niger Delta (Operation Pulo Shield), Major General Johnson Ochoga, has said that the formation has in the last two years reduced crude oil theft in the region by about 84 percent - from 9.5 million barrels to 1.5 million barrels.

Also Friday, a detachment of soldiers arrested two policemen and 20 others at the Marina Beach in Calabar, Cross River State, with three wooden boats and three buses loaded with drums of stolen fuel.

Ochoga who spoke yesterday in Yenagoa, Bayelsa State, after he formally announced his retirement from the Nigerian Army to the men under his command said the security campaign against crude oil theft in the region had been a huge success.

The JTF commander who handed over to Major General Bata Debiro said though the challenges were enormous added that "the men of the JTF did well within the mandate handed over to it by the Defense Headquarters" for an end to the theft of crude oil, sea piracy and other crimes along the creeks and waterways of the region.

He said: "The terrain is different, not because of the waters, but because of the length these oil thieves can go to achieve their nefarious act. If you want to sustain the fight, you must be alive. We have done well so far. In term of discipline, there is no organization that is devoid of black sheep. But we have sustained our zero tolerance to crimes."

Debiro, the new commander of the JTF commended his predecessor and declared his readiness to sustain the battle against oil thieves and sea piracy in the region.

In his report in 2012 on the activities of the command, Ochoga said the JTF arrested 1,945 suspects while 18 ocean going Vessels used in transporting stolen crude oil were seized.

He said that 7,585 anti-illegal bunkering patrols were conducted by my men along the creeks of the region in 2012, while 133 barges, 1,215 boats, 187 tankers trucks, 178 illegal fuel dumps and five surface tanks were destroyed.

"Also destroyed were 36,504 drums of illegally refined products, 638 pumping machines and 326 outboard engines. Thirty-eight of the suspects were foreign nationals from Ghana, India, Lebanon and other countries of Asia and Europe."


During the clampdown on oil thieves in Calabar yesterday, one of the policemen allegedly involved in the illegal activity escaped, but a second policeman, one Sergeant Sunday Kamalu was arrested.

Soldiers from the 13 Brigade, Nigerian Army, Calabar, alongside Sector 3 of Operation Pulo Shield acting on intelligence report, swooped on the Marina Beach area at about 1am to effect their arrest at the point of loading the products.

The arrest confirms earlier allegations that some unscrupulous policemen in Calabar had been conniving with thieves to siphon petroleum products from the NNPC jetty at Ekorinim where the corporation has its tank farm.

Also arrested yesterday was the owner of MRS Petrol Station located on Mayne Avenue in Calabar South, alleged to be the receiver of siphoned fuel and a major collaborator in oil bunkering in Calabar South, Akpabuyo and Bakassi local government areas.

Sergeant Kamalu in an interview said he and his partner were serving at the Cross River State Police Command headquarters at Diamond Hill, Calabar Municipal Council but that they were at the MRS filling station on official guard duty.

The owner of the filling station where the suspects delivered some of the drums of diesel to, Elder Edet Effiong is said to be undergoing interrogation at the Brigade headquarters.

http://www.thisdaylive.com/articles/jtf-we-ve-cut-oil-theft-by-84-in-n-delta/136089/
Education › Re: FEC Approves 3 New Universities For Northern Nigeria by nameo: 9:47pm On Jan 09, 2013
As a 'southerner' (whateva that means) am really ASHAMED reading this thread. Why the sillly hostility towards the north by some nitwits?

The comments here are just simply Disgusting....GOSH!!
Politics › Re: Ibadan Dry Port Ready For Inauguration by nameo: 5:24am On Jan 09, 2013
This is Great news. This should improve efficient movement of heavy goods in the country through the inter-modal modes of transportation.

When is the other planned Inland ports coming on stream huh
Politics › Re: 434MW Geregu Power Plant To Begin Power Generation This Week by nameo(op): 4:44am On Jan 09, 2013
At least President Jonathan is doing well in Power. We all pray that this year would be even better in terms of power for the nation, especially with the Privatisation program.
Politics › 434MW Geregu Power Plant To Begin Power Generation This Week by nameo(op): 4:42am On Jan 09, 2013
[b]BARRING any unforeseen circumstances, one of the nation’s National Integrated Power Projects (NIPPs) - Geregu power plant would commence power generation to national grid by this weekend. The plant is expected to take-off with about 144Mega Watts (MW).

The Deputy General Manager, Communications and Public Relations, Niger Delta Power Holding Company (NDPCH), Yakubu Lawal, who confirmed this to The Guardian Tuesday, said all arrangements have been put in place, and the plant would be ready for take-off by Friday.

According to him, the plant, which operates on three unit turbines, would start generation from one of the units, thereby churning out about 144Mega Watts (MW) to the national grid. Geregu power plant located in Kogi State has a combined capacity of 434MW.

Lawal said the plant was first fired on Friday, while other integrity tests have been carried out, adding that gas supply is presently steady for the plant’s take-off.

The other two units according to him, are therefore expected to be fired by the end of first quarter of the year.

He described this feat as a major achievement towards growing the nation’s generation capacity, even as he confirmed that the Omotosho power plant in Ondo State (Phase II) has commenced full operation in December.

With the commencement of its fourth unit, the power plant is now operating at full capacity, boosting the national grid by another 500MW.

A visit to the power plant recently showed that the phase II of the facility is up and running through a combined turbine units.

The Managing Director, NDPHC, James Olotu, who inspected the new power plant in Ondo State recently, was very impressed about the project and optimistic that the plant would serve as critical factor to the nation’s generation capacity.

Omotosho power plant is in two phases-the phase one has installed capacity of 335mw, while the phase II has a 500mw capacity. The plant operates on four turbine units of 125mw each. It is presently operating on a temporary gas arrangement, while the main gas process is at advanced stage.

Olotu, had also noted that power generation from the NIPP projects has peaked 1,687MW and expected to reach about 4,800MW by May 2014.

He stated that with the completion of all the gas turbine projects, the NIPP capacity would hit 4,264MW by the end of 2013, adding that there would be follow up on the outstanding combined cycle for Alaoji (510MW) this year.

The NDPHC boss also assured of follow up on the completion of transmission and distribution projects, while plans are in the pipeline to complete gas projects and conclude all Gas Sales Aggregator Agreements (GSAA) and Gas Transmission Agreements (GTA).[/b]

Meanwhile, the contractor handling Sokoto Independent Power Project (IPP) project has promises to complete the project in seven months.

An official of MJB International, Mr Jim Page, suppliers of the N3.8 billion equipment for the project, said all hands were be on deck to complete the project within sevenmonths.

“The project is a reality and it will be completed in the next seven months, hopefully with no delays,”

However, the Secretary to the Sokoto State Government, Alhaji Sahabi Gada, said that the bulk of the equipment needed to complete the project had been transported to Sokoto.

“The remainder equipment contained in about fifteen containers has all arrived in Lagos and will be transported to Sokoto in the next few days. The project will be a reality and it is aimed at boosting power supply in Sokoto State. It will also attract more investors to our state. We want to augment power supply from the Power Holding Company of Nigeria (PHCN) from the present megawatts ratio,” he said.

The General Manager (Operations), Transmission Company of Nigeria (TCN), a subsidiary of the PHCN, Atiku Tambuwal, said PHCN is happy with the partnership, assuring residents of the state of unflinching support of PHCN to the project.

“Sokoto State’s current electricity consumption need is between 60 and 65 mega watts. Presently, the state gets electricity supply of not more than 25 mega watts. But the IPP project will greatly boost power supply to the state,” he said.

http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=109925:geregu-plant-to-begin-power-generation-this-week&catid=31:business&Itemid=562

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