₦airaland Forum

China restates commitment to provide 85% funding for $2.8 billion AKK gas pipeline project

By Adeyemi Adesanya-Daniel - September 3, 2018


The Nigerian National Petroleum Corporation (NNPC) has been assured by China National Petroleum Corporation (CNPC) that it is committed to helping it secure up to 85 per cent of $2.8 billion it requires to build the Ajaokuta-Kaduna-Kano (AKK) pipeline project, a statement from the corporation on Monday disclosed.

The statement which was signed by the Group General Manager, Public Affairs of the NNPC, Mr. Ndu Ughamadu, and sent to THISDAY in Abuja, explained that the Group Managing Director of NNPC, Dr. Maikanti Baru, got the assurance from CNPC during a high-level meeting between both corporations.

It stated the meeting was held on the sidelines of the ongoing Forum on China-Africa Cooperation (FOCAC) Summit in Beijing, China.

According to it, the AKK gas pipeline would enable connectivity between the East, West and North that is currently non-existent. It would also enable gas supply and utilisation to key commercial centres in the northern corridor of Nigeria with the attendant positive spin-off on power generation and industrial growth.

The statement also added that financing for the 40-inch by 614 kilometres (km)AKK gas pipeline is expected to cost about $2.8 billion, and 85 per cent of the money is expected to be funded by the financiers which include Industrial and Commercial Bank of China (ICBC), Bank of China, and Infrastructure Bank of China with Sinosure, China’s Export Credit Agency (ECA), providing insurance cover, while the remaining 15per cent will be provided by the contractors which include Oilserve/Oando consortium, as well as Brentex/China Petroleum Pipeline (CPP) Bureau consortium.

It quoted the Assistant President and Board Member of the CNPC, Mr. Wang Shihong, to have said his compnay placed a very high premium on the AKK project.

“We are in full support of Nigeria’s quest to deliver the AKK project. We are working relentlessly towards securing funding for the project based on regulations and policies of Chinese financial institutions,” Shihong stated in the statement.

Shihong, also said that the CNPC cherished its relationship with the NNPC, and pledged to fully support his company’s subsidiary, CPP Bureau, partner in the AKK project, to ensure success of the initiative.

It added that Baru in his response, stated that the AKK project was dear to Nigeria, and that while at the FOCAC Summit, President Muhammadu Buhari reiterated the potentials of the project to strengthen Nigeria-China relations.

He explained the NNPC was looking forward to a successful close-out of the project’s financing towards official groundbreaking ceremony in October, this year.

“We want to maximise the construction work before the end of the year. We are hoping for the quick resolution of the financing agreements so that we will kick-start the project in October, when the dry season begins,” Baru said.

Edo signs pact with Chinese firm to build Benin port

By Abdullateef Salau in Beijing 
Published Date September 3, 2018


The Edo state government on Monday signed an agreement with a Chinese firm, China Harbour Engineering Company (CHEC) to build a port on the Benin River.

Governor Godwin Obaseki and the company’s vice president Li Yi signed the agreement for both parties in a ceremony held at the Nigerian Embassy in Beijing, China.

Obaseki said the agreement was to build a port on the Benin River, dredge the river which is a channel of about 40 kilometres, and to build a link road to join the bye pass.

The proposed port would link Lekki deep sea port and help decongest the ports in Lagos, the governor said.

“The company we are working with is the largest investor in the Lekki deep sea port. So the Benin River port is going to be a sister port to the Lekki deep sea port. We expect that up to 30 per cent cargo going to the Lekki deep sea port would be meant for Benin port,” he said.

He added that the construction of the Benin port would also provide opportunities to export agricultural and manufactured products being produced in the in the state.

“We are investing massively on agriculture particularly in areas like oil palm, rubber cassava, fruits and all range of agricultural produce which need to be processed and exported outside the country”

“There are companies operating in the state and are seeking to export their products. The port will provide opportunity not only to export agricultural produce but also some of the products that are now being manufactured in our area,” the governor said.

“Another advantage is that once you create the infrastructure, there is the possibility that other industries would spring up in the state. This opportunity is going to rapidly help in diversifying the economy of Nigeria,” he added.

positivethought:
All lies by BMC,how can a lifeless cadaver shine?

naptu2:
Who mentioned anything about shiney??

naptu2:
I didn't write that. You'll have to take it up with the supermod that wrote it.

naptu2:
Yeah, but you quoted me instead of addressing the issue with the supermod that wrote it on the home page (only supermods can post on the home page).

nonny400:
Well, that's what I saw...

nonny400:
I see you sir.

nonny400:
What is shiney about this? It goes beyond pictures. We want to hear what he said...

Breaking: Rinsola Abiola Quits APC

By Ridwan Balogun
August 31, 2018

Late M.K.O Abiola’s daughter and the Special Assistant on New Media to the Speaker of the House of Representatives, Rinsola Abiola has quit the APC.

Abiola was the President, All Progressives Congress Young Women Forum (APC-YWF) and was also a youth representative on the APC Board of Trustees.

In a statement made explaining her reasons for quitting the party, Rinsola said the constraints limiting the reach of youth in the party is something she can’t contend with again. She revealed she made a series of consultation after the passage of the Not Too Young To Run Bill but was not convinced with the responses she got.

She said;

“Your Excellencies,

My leaders, mentors, colleagues and friends,

I write to formally communicate my decision to relinquish membership of the All Progressives Congress. This has been a five-year journey during which I have met some very exceptional people and learned from you all.

Last year, while we – youth advocates and those of us in political parties who fall within the youth demography – were advocating for passage of the Not Too Young To Run Bill, I approached a handful of our leaders and expressed my intention to run for office if the Bill scales through. Thankfully, this year, Not Too Young To Run became law and young people (from 25) can now seek to occupy elective positions.

I began consultations in October 2017 but have now concluded that while legal constraints may have been done away with, there are greater challenges that we all must contend with. Apart from the usual issues like funding and violence, undemocratic dictates which are now (erroneously) viewed as the norm also pose a serious challenge. I have been told in no unclear terms that I “must not run”, that I “should not even consider it”, and that there are “consequences for disobedience”.

I believe strongly that such things should not be tolerated in a democracy which many people fought for, with some of our heroes – my father inclusive – losing their lives in the process. I also believe that if those who fought for this democracy had listened to such veiled threats or even thought about the consequences that they might face, civil rule would not have been restored when it was.

In 2013, I left youth activism for mainstream politics because I believed governance was a more efficient vehicle for bringing about change; there was nothing that I wanted more than to be part of the process of making this country work again and contributing my quota to national development. I believed – and still do – that there’s only so much that one can do to elevate the living conditions of one’s people as an individual, and that occupying a position with the backing of the Constitution gives a lot more power to change lives and in much greater numbers.

I have always advocated for enhanced youth and women participation in politics; this is why I believe that simply accepting this situation or making peace with what can only be described as tyranny and injustice as some have advised me to, would make me both dishonest to myself and untrue to everything I’ve ever advocated for.

I want to thank you all sincerely for everything you have done to help me grow and I hope that our relationship remains cordial irrespective of political leanings. I remain committed to the ideals which led me to join politics, and will join another party once I’m convinced that inclusion for youths and women is an issue they prioritise and that internal democracy truly matters.

I certainly do not have it all figured out yet, but the conviction that led me to join APC now demands that I stand and fight not just for myself, but also for other women and young people in similar circumstances. Mine is a grossly underrepresented demography and injustice, in all its forms and irrespective of who perpetrates it, must be resisted. The decision of who gets to represent us is one that should be made by the people and it is not up to any individual, no matter how highly placed, to tell me that I must not even try.

I thank you for your support so far and would perfectly understand if things have to be different going forward due to political differences.

With gratitude and utmost respect.”

As a Nigerian footballer playing in China, Asisat Oshoala was at the Nigerian Embassy in Beijing earlier, interacted directly with President @MBuhari, she talked to him about her passion, the Football and also made a great announcement. pic.twitter.com/r1HFsq5Bz0

— Bashir Ahmad, OON (@BashirAhmaad) September 2, 2018

Nigerian football star meets President Buhari in China, tells him the big event on Sports that will happen in December (video)


- Super Falcons striker Asisat Oshoala met President Buhari in China

- The President is in Beijing to attend a summit between September 3 and 4

- Oshoala told Buhari that there will be a big sporting event in Lagos in December

Nigerian female football star Asisat Oshoala has met her country's President Muhammadu Buhari in China where they interacted and also gave a speech.

President Muhammadu Buhari arrived Beijing Saturday, September 1, to attend the Beijing summit of the Forum on China-Africa Cooperation (FOCAC) holding between September 3 and 4, 2018.

Asisat Oshoala who currently plays for Chinese side Dalian Quanjian F.C was at the Nigerian Embassy in Beijing where she told President Buhari about an event on Sports that will happen in December.

''There is a big event coming up in December between the Chinese Football Federation and the Lagos state Government,'' the 23-year-old striker said at the Embassy.

Earlier, NAIJ.com had reported how Nigerian female football star Asisat Oshoala surprised her parents with a new mansion home in Lagos.

Asisat shared photos of the new home on social media while advising her followers to be selfless and try to make their family happy in any capacity they can.

tstx:
Who the is he/she?

iWasNotHere:
Who's She ?

Henri8:
Who's she sef?

wellmax:
Who is Rinsola

Akpan107:
me sef want to know who she is... no details on that yet.

ifymadu:
The same question on my mind. Who is she?

Lilimax:
@Naptu2, I sight you