₦airaland Forum

Off-topic: I just read that Epe in Lagos have not had power supply in 3 years! Na true?

If its true, what a shame.

Is the head of SEC not the same Arunma Oteh that the National Assembly what to kill. Wetin the woman do them sef?

Nigerian stocks rose to a 32-month high on Monday, ending the year up 34 percent in the index’s best performance since 2007, led by growth in the consumer goods and banking sectors which is expected to continue into the new year.

Africa’s second biggest economy and top oil producer is growing in popularity as an investment destination, offering the promise of high economic growth and a consumer market of 160 million people. Its sovereign debt has soared since JP Morgan added it to its emerging market bond index this year.

“With continued interest in financials and consumer goods, we expect the market to extend gains into the New Year,” analysts at Vetiva Capital said in a note to Reuters, adding that banks would lead the charge in 2013, reports Reuters.

Nigeria’s naira currency closed flat at 156.20 to the U.S. dollar, but gained 1.8 percent over the year, supported by forex inflows from foreign investment into the local debt market and the Central Bank’s tight monetary policy.

Stocks rose 0.76 percent on Monday, to cross a 28,000 point psychological level and closed the year at 28,079 points, a level last seen in April 2010, to become the second best performing index in sub-Saharan Africa, after Uganda.

This year’s performance was supported by a stable naira, a flurry of strong earnings results and a new market-making system, attracting foreign investors and local fund managers back to equities, analysts and stockbrokers say.

The index of Nigeria’s top-10 consumer goods stocks ended up 41.3 percent, to become the best performing sector, while banking stocks finished up 21 percent.

Nigerian stocks recovered after falling 16 percent last year but the market is still less than half the value it was, prior to the 2008 collapse, which wiped off 60 percent of stock values and coincided with a banking crisis.

The index rose 70 percent in 2007.
Nigeria trade closed after a half day ahead of the New Year’s holiday.

http://www.businessdayonline.com/NG/index.php/news/76-hot-topic/49693-nigeria-stocks-up-34-in-2012-gains-to-continue

The Nigerian Railway Corporation (NRC) on Wednesday revived hopes for a cheaper means of transportation in the country as it conveyed 450 newly-recruited soldiers from Zaria to Lagos.

The News Agency of Nigeria (NAN) reports that the new recruits had just finished their training at the Nigerian Army Depot in Zaria and were posted to Lagos State for service.

Mr Adekunle Ayeni, the Railway District Manager (RDM), Northern District, told the News Agency of Nigeria (NAN) in Zaria that the corporation has been re-positioned to render quality and reliable services.

Speaking later to newsmen after the soldiers left, the RDM said ``we want to assure Nigerians of quality and reliable services, as the new recruits will arrive in Lagos after 25 hours’’.

NAN reports that the passengers’ train with five coaches took off from Zaria at 1.15 p.m and was expected to arrive in Lagos at 2.15 p.m on Thursday.

Ayeni called for patronage from government agencies, private organisations and individuals ``as their contributions towards the revitalisation of the rail system’’.

While commending the efforts of the Federal Government towards reviving the railways, the manager appealed for more funding to enable the corporation serve Nigerians better.

He assured that the essence of re-introducing rail services was to provide efficient and effective transportation of goods and people across Nigeria.

NAN reports that Col. Sa'id Jibril-Balarabe, the Commander, Recruit Centre, Depot Nigerian Army, Zaria, led the soldiers to the railway station where they boarded the train.

Balarabe declined making comments on the mode of transportation but NAN gathered that the recruits were heading to Lagos for their first posting.

http://www.leadership.ng/nga/articles/43513/2012/12/26/nrc_transports_450_recruits_lagos.html

MERRY Xmas All....

Dangote Sugar Refinery Plc has commenced export of sugar to Ghana, Gambia and Sierra Leone, its Managing Director, Engineer Abdullahi Sule has said.

He said Senegal and other African countries have also shown interest in the product of his company.

He disclosed this in Lagos during a media tour of his company, where he also explained that the export of the company's sugar outside the shores of the country is in tandem with its plan to consolidate the market expansion.

He said: "We have started exportation of Sugar into Ghana, Gambia and other countries after a pilot scheme.

"Over all, we are seeing a more positive prospect than we had envisaged because we had thought upon acquisition of Savannah Sugar our production would move up by 100, 000mst per annum within three years, but with what we have put on ground, we would achieve that within a reasonable time frame."

Sule said his company currently controls 70 percent of market share in the country, just as it met 97 percent yields in the outgoing year which has reflected in the N16 billion profit after tax.

http://allafrica.com/stories/201212240478.html

Anenih was always the chairman of the board na. It is not a new

What is the address of the hospital

I love Lagos Govt cos its agencies works unlike most other Govts in Nigeria.

You made some fair point though

People will never learn

MINISTRIES, Departments and Agencies (MDAs) have been barred from using foreign cars beginning from 2013, the Minister of Trade and Investment, Mr Olusegun Aganga, has disclosed.

The minister, speaking at the end-of-year media chat, during the second annual seminar for trade and investment correspondents and business editors, on Monday, in Abuja, stated that the directive, which he said was from President Goodluck Jonathan, was aimed at promoting made-in-Nigeria goods, conserve the foreign exchange ressrves and boost job creation in the country.

He said as from January 2013, it would be an offence for any MDA to buy foreign vehicles for official purposes, adding that failure to comply would attract a sanction.

Although, the minister observed that local vehicle plants might not be able to immediately meet local auto demands, he, however, stated that such MDAs needed to exercise patience, because the local plants would eventually meet their demands.

On the importance of patronising Nigerian made goods, the minister said the excuse of the poor quality of these goods by Nigerians had been addressed by the admonition to the Standards Organisation of Nigeria (SON) to see that goods coming into the markets were of high quality.

As part of the government investment climate reform programme, he said the Corporate Affairs Commission (CAC) had been able to achieve 24 hours registration service, while the country was able to attract foreign investment worth N8.9 billion to the economy in 2011.

With the 2011 feat, Aganga said Nigeria had become the most preferred investment destination in Africa and the world, as 20 per cent of world trade comes to Nigeria currently.

http://www.tribune.com.ng/news2013/index.php/en/component/k2/item/1336-no-more-foreign-cars-for-mdas-fg

http://www.punchng.com/business/industry/new-auto-policy-is-ready-minister/

The Nigerian capital market is on the way to becoming the best performing capital market in the world for the year 2012.

This is on the back of the consistent stability recorded in the equities market in the last few months.

The Director-General of the Securities and Exchange, Ms. Arunma Oteh, stated this at the maiden edition of the SEC Journalists Academy 2012 on Friday.

According to her, already, the Nigerian capital market has become a force to be reckoned with in the global economy, owing to its performance over the last few months.

She said, “I think we are about to make history in our market because for the first time, people recognise the importance of the capital market to transforming the economy, and that is what happens, where one has had a bad experience like we did in Nigeria.

“The good news is that we are on course to having the strongest and best performing capital market in the world. We have recorded over 30 per cent gain on out Index so far this year, and this is going to continue, because it is not driven by euphoria but by fundamentals.

“And so, it is an exciting time for us in the SEC and the other operators, as everyone realises that the key reforms carried out in the market are now paying off for us, which is the reason a country like Spain (whose market is still struggling) is looking at what we did in Nigeria.”

She added that the improvement in the market indicators cut across major sectors, adding that it was not just the banking sector that had witnessed increased activities following the restructuring, but also the Fast Moving Consumer Goods sector too.

She said, “There is clearly an acknowledgment that the Nigerian market is a market to be in, but not just the equities market, we also have an important bond market which is recognised internationally.

“This is even more obvious from the fact that Barclays would in March 2013, admit the FGN bonds into their Index. Already, JP Morgan has included the Nigerian bonds in their index, and so, this gives face to the fact that Nigeria has become the preferred investment destination.”

Also speaking, the Managing Director, Quest Advisory Services Limited, Mr. Bayo Rotimi, said that the prospects of increased growth in the Nigerian capital market remained huge.

He said, “The amended Pension Reforms Act is expected to result in increased investment in the capital market by the Pension Funds Administrators.

“Also, it is likely that some proportion of the Sovereign Wealth Fund would be invested in the market, and all this would boost the market in the next few months.”

http://www.punchng.com/business/capital-market/nse-to-emerge-2012-best-performing-market-oteh/

This is good news. Its time for the NEPA workers to go, and the power reform to be concluded

This is a bad prayer o

Good. I like these sorts of things. We go use am disappear finish be that,lol

Who won the mass fight? See that man yansh! I no dey shame? lol

This is Commendable cos for the longest time there has been a HUGE problem of alternative/Secondary Power supply to Airports in Nigeria, which has not only been disgraceful but has been a threat to safe navigation in our airspace. Its been one of the many reasons ICAO have refused to certify any Nigerian airport, and something previous governments have promised to do without fulfilling it.

Honestly, am now becoming impressed by this Oduah woman. She is the one doing the remodelig of airports too. The TRACON project have been completed finally in the last 2 years, thereby giving radar converge to all aircrafts in the space of Nigeria. Similarly, the new VHF Communication system which ensures effective communication coverage in every airspace has also been completed . NAMA deserves some commendation.

http://www.thisdaylive.com/articles/solving-erratic-power-supply-at-nigerian-airports/125547/

But much more still need to be done o by NAMA and FG. For instance, most airports are still not fenced round such that we still hear of cows walking into the runways of some airports. What a DISGRACE! We also do not have any of our Domestic airport's runway lighted at night such that flights must stop by 6.00pm- in the 21st century!

Kudos on these ones though, we expect more

IN a bid to put an end to the erratic power supply to navigational aids across the country’s airports, the Nigerian Airspace Management Agency (NAMA) has completed the first phase of the installation of Solar Power units at a cost of N218million.

The completed Solar power installations cover six locations namely; Lagos, Abuja, Kano, Port Harcourt, Bida and Enugu.

This development came to light at the weekend during the official handing over of the completed power project by the contractor- Stormberg Power Limited, whose Chairman, Otunba Tunde Morakinyo, met with the Managing Director of NAMA, Mazi Nnamdi Udoh, at the headquarters of the agency, to hand over and intimate the NAMA boss with the completion of the project.

Speaking on the development, Udoh declared: “This is another milestone in saving money and diversifying our power source to solar. It is a project that has been ongoing and is now fully completed

and we are now using it. It is saving us the huge amount we used to spend on diesel to power generators and the down-time we used to experience due to power failure.

“So, it is a thing of joy. We will continue to explore how we are going to deploy it in other areas apart from its current usage for navigational aids which is the pilot scheme in six airports/locations.”
“The solar power is solely for navigation/landing aids only for now in Lagos, Abuja, Port Harcourt, Kano, Bida and Enugu where we have major issues as regards constant power supply to the runways/air field lighting’’.

Power supply to the airfield and runways in the aforementioned airports, Mazi Udoh pointed out used to be very erratic while NAMA used to keep them alight by running generators on 24-hour basis.

On the cost of the project which he said was N218million and that it does not cover only the installation of the Solar Power units in the six locations, but also included the training of NAMA staff in the electrical/electronics department to take charge of operations of the project.

He added that this was the first phase and assured that the next phase, which would cover other airports, was expected to begin before the end January, 2013.

The Chairman of Slomberg Power Limited, Otunba Morakinyo, said his company was delighted to be associated with the project and assure that the solar units supplied and installed for NAMA were of high quality which would tremendously ensure uninterrupted power supply to navigational aids and thereby enhance safety while saving the agency millions of naira spent monthly to purchase fuel for generators across all the airports.

http://www.tribune.com.ng/news2013/index.php/en/business-package/2012-10-29-11-35-35/tribune-business/item/808-nama-completes-installation-of-n218m-solar-power

GOOD o, very Good. Now, the major obstacle on the way of the conclusion of the Privatisation program has been removed. But ehm, where are we exactly with the Privatisation program sef?

My God! Condolences to the family and friends of these little ones. Hope they would insist on massive compensations from the owners of the trunk.

This new Minister of Agric seem to know what to do and how to do it. He was the one that reformed the distribution of fertilizers.


I found this link rather informative:

http://www.google.com.ng/url?sa=t&rct=j&q=investing%20in%20nigeria%E2%80%99s%20agricultural%20value%20chains&source=web&cd=5&cad=rja&sqi=2&ved=0CFAQFjAE&url=http%3A%2F%2Fwww.newworldnigeria.com%2Fpdf%2FAdesinaLondonBOIForumfinal.pdf&ei=SaTGUJuhFcS3hQe1oYCIDg&usg=AFQjCNG6v3-hX81L10WXDwiMr2BK_vX9Qw

The Federal Government on Friday unveiled its One-Stop Shop Agro-Input Centre to ensure the availability of agriculture inputs for farmers.

The Minister of State for Agriculture, Bukar Tijani, who inaugurated the centre located in Wushishi, Niger State, said the move would help to guarantee the accessibility and affordability of agricultural inputs for farmers in the country.

He said that about 62 of such centres were also ready for inauguration, adding that the Federal Government was committed to removing every impediments to the availability of agriculture inputs.

He said, “The centre was constructed by the Federal Government for the purpose of ensuring the availability, accessibility and affordability of agriculture inputs, such as fertiliser, agro chemicals, quality seed and livestock.

“The task of making food available, affordable and accessible to all Nigerians through promotion of food security programmes has been the major focus of the Federal Government.

“The ministry is very much mindful of the serious impediment of inaccessibility of good quality agriculture inputs, such as fertiliser, agro-chemicals, seeds and seedlings, livestock feeds, primary processing and extension services by farmers in a bid to maximise aggregate agricultural production output for the nation.”

The minister said the impediment as well as the preparedness of the government to withdraw from direct procurement and distribution of all agricultural inputs informed the decision to propose the establishment of the agro-input centre in each local government area.

“The centres would strengthen the food security programme of the government and they are aimed at providing market information services and promote private sector investment in viable commercial agriculture,” he added.

Also speaking at the event, Niger State Governor, Dr. Babangida Aliyu, commended the FG for its immediate intervention by distributing relief materials to flood victims in the state.

Aliyu, who was represented by the Secretary to the State Government, Mr. Daniel Shasheri, said plans were ongoing to partner the Bank of Industry to finance about 5, 000 farming projects.

http://www.punchng.com/business/business-economy/fg-unveils-agro-input-centre-to-boost-food-production/

THIS IS GOOD NA

Oya, people should start posting PICS na. I really like to know if the 'massive' rehabilitation of roads is still going on esp on important roads like Benin/Ore, PH/Enugu, Onitsha/Enugu, Lagos/Ibadan, Abuja/Lokoja, Kano/Maiduguri, EastWest etc. They said each of these roads have different contractors working simultaneously. Na true? We need to know who is lying. PICS

I believe in this nation, and i believe in your policies Sir. Just pursue them more forcefully

ACN... DEMOCRACY FOR JUSTICE

Interesting information @OP. But prosecution nko?

VERY GOOD NEWS. Kudos FG
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But Boko on my mind, lol

The Managing Director of the Nigerian Railway Corporation, NRC, Mr Adeseyi Sijuwade, yesterday said that theLagos toKano mass transit train service would commence operations on December 20.

Sijuwade made the announcement at the first management retreat of the corporation, held in Lekki,Lagos.

According to him, the rehabilitation of the tracks fromLagostoKano, including bridges and culverts has been completed for the commencement of the train service.

He assured commuters from eitherLagostoKanoorKanotoLagos safe and cheap rail transport services during the yuletide.

“This formal launch would be announced soon to ensure the resumption of full inter-state mass transit services along the rail tracks on weekdays,” he said.

The managing director said further that adequate security would be put in place with the collaboration of the police and Man-O-War before the commencement of the service.

He also said that the rehabilitation of eastern railway lines terminating atMaiduguriwas in progress, adding that trains would begin to move on the corridor in 2013.

He had earlier said that the retreat was aimed at bringing out the potential of the NRC.

Sijuwade stressed the need for strategic management of assets and facilities of the corporation in line with the organisation’s vision and mission.

http://www.vanguardngr.com/2012/12/lagos-to-kano-mass-transit-train-service-begins-operation-sijuwade/

nameo: Bwahahaha. Loud-mouthed Sanusi Lamido Sanusi over to you. Mumu people

Okay, read the article and its like it was a self-audit. The good thing about this administration is its attempt to be transparent and open, more thieving occurred in other administrations and was covered up. The problem is that none of these exposed people when they are taken to court, are finally sentenced fast enough. Our judiciary needs to sit up and hasten court processes, else government should start Aluuing the people they are exposing

Bwahahaha. Loud-mouthed Sanusi Lamido Sanusi over to you. Mumu people

[quote author=ndu_chucks]@ Uncle Gbawe, why the vicious attack? Since you cannot prove that Tinubu is not a major shareholder in the said company, stop making a fool of yourself by claiming that the authors of the OP's article are wrong. You are beginning to sound like a Tinubu groupie. This is unlike the Gbawe of old. Abi you don get post for ACN ni?[/quote]You are kidding right?