₦airaland Forum

Tara Agro to Transform Adani into Regional Hub for Rice Production

11 Nov 2013

By Raheem Akingbolu

With works nearing completion on the ultra-modern Tara Agro rice processing mill, the agrarian Adani Community in Uzo Uwani Local Government Area of Enugu State, is on the threshold of transformation from largely subsistence agriculture into a commercial hub for agribusiness and rice production.

According to a statement issued in Lagos at the weekend, it was stated that the 42,000 tonnes Tara Agro mill, which will be the biggest rice processing mill in South East Nigeria, is expected to be completed by January 2014.

The statement further stated that the mill, which is a private sector investment, is being built by Tara Agro Industries Limited, owners of the Ebony Agro rice processing mill in Ikwo in Ebonyi State, and the producers of International quality rice brands namely Ebony Super and Ebony Gold. Larger than the Ebony Agro mill, the Tara Agro mill is also said to be fully integrated to produce, package, grade and export quality brands of rice-under a new Brand-Queen of the Niger.

An impact investment, Tara Agro mill is being set up to process locally sourced paddy rice from small holder farmers in Adani Community into parboiled polished rice of international quality. When it begins operation, the mill will raise demand for paddy, and is projected to increase the acreage of rice cultivation from 1,400 hectares one-crop per year in Adani to about 5,000 hectares of three crops per year cycle, thereby expanding the number of financially viable primary producers.

It will also provide supply to meet the growing national demand for high quality rice. Over 5,000 direct and indirect employments will be created in the community. These factors combined will raise household incomes in Adani Community, creating sustainable wealth for the people.
Chairman, Tara Agro Industries Limited, Mr. Charles Ugwuh, said, “Our increased investment in rice production is a testament to our firm commitment to the growth, development and proper coordination of rice production and processing value chain in Nigeria. The choice of Adani rice producing community as the location of the Tara Agro rice mill is as a result of our commitment to building an empowering rice value chain from which small holder farmers can reap social/ economic benefits.

“We are committed to fostering a value chain with shared economic, social and environmental values in which producers, buyers, processors, and others collaborate to create value. It is our belief that this will accelerate the transformation of small holder farmers from subsistence levels into commercially viable enterprises.”

According to Ugwuh, Tara Agro will unlock the huge economic potential of Adani Community by bridging the existing rice processing gap, and by dividing the usually combined functions of producer/processor/seller assumed by thousands of small holder farmers in a way that is most efficient and beneficial to the value chain.

“Tara Agro mill will enhance the productivity of thousands of subsistence farmers through paddy off-take agreements, and by fostering the emergence of input suppliers, storage and logistics providers, as well as technical support, credit and market linkages, among others, which were formerly non-existent on the rice value chain in Adani.”

Project Director, Tara Agro rice processing mill, Mr. Reuben Malcolm, said, “The huge investment in the new rice processing mill in Adani is a courageous one born of patriotic zeal, and commitment by its promoters to the growth and development of the Nigerian economy, in spite of the evident infrastructure deficit in Uzo Awani Local Government Area. The mill site is not connected to the national grid, and the construction of the factory has been wholly dependent on the use of heavy duty generators procured for that purpose.”

Malcolm urged the State and federal government to fast track development of infrastructure such as roads, standard bridges, power supply, storage facilities as well as rectification of the broken down Adani irrigation system, if the potential of Uzo Awani as the leading staple crop processing centre of the South East must be unleashed.

He also called for the state government’s intervention in promoting mechanised farming, agricultural extension services and ensuring access to credit by farmers’ co-operative societies to create an enabling operating environment for private sector players like Tara Agro.

Investment in the Tara Agro integrated rice mill by the promoters of Ebony Agro Industries Limited aligns with the Federal Government’s current policy focus of re-diversifying the economy and re-positioning the agricultural sector to play the lead role in economic development.

Once it is operational, the mill will further boost the quantity and quality of rice production in the country, revitalise and harness the enormous potentials of the developing rice sub- sector to create food security, stimulate job creation, and wealth creation for farmers.

http://www.thisdaylive.com/articles/tara-agro-to-transform-adani-into-regional-hub-for-rice-production/163931/

Afren, Partners Suspend Drilling Operations in Nigerian Oilfield

26 Nov 2013

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Ejiofor Alike

United Kingdom-listed Afren Plc and its partners - Optimum Petroleum Development Limited and Lekoil Limited have suspended the current drilling operations at the Ogo prospect located on the oil prospecting lease (OPL) 310 licence offshore Nigeria after the drilling results surpassed expectations significantly.
In geological parlance, OPL 310 is located in the Upper Cretaceous fairway that runs along the West African Transform Margin.
Extending from the shallow water continental shelf to deep water, the block represented a wild cat exploration opportunity in an under-explored basin.
Afren said in a statement that a detailed pre-drill evaluation of the block identified several prospects lying in the same Turonian, Cenomanian and Albian sandstone intervals that have yielded significant discoveries in Ghana and Côte d’Ivoire.
“The first exploration well drilled by the Partners was the Ogo prospect, a four-way dip-closed structure in the Turonian to Albian sandstone reservoirs. The drilling programme included a planned side-track, testing a new play of stratigraphically trapped sediments that pinch-out onto the basement high,” said the statement.
The statement added that the Ogo-1 well was drilled to a total measured depth of 10,518 feet (10,402 feet true vertical depth subsea).
According to Afren, the Ogo-1ST reached a total measured depth (TD) of 17,987 ft (12,050 ft true vertical depth) and encountered hydrocarbon intervals in the same Turonian, Cenomanian and Albian reservoirs that were successfully drilled and logged at the Ogo-1 well.
The Chairman of Afren, Mr. Egbert Imomoh, said: “The Ogo and Ogo-1ST discovery continues a 100per cent exploration track record following discoveries at Ebok North Fault Block and the Okoro East Extension in Nigeria and the Simrit-2 and Simrit-3 exploration wells in the Kurdistan region of Iraq. Based on the well data, the Partners have identified volumes in excess of our pre-drill estimates. We look forward to further exploration results in East Africa on the El Kuran well and in Kurdistan on Maqlub-1 and the exploration tail on the BR-5”.
Based on the well data, the Partners estimate the P50 to P10 gross recoverable resources range to be significantly ahead of pre-drill expectations across the Ogo four-way dipped closed and syn-rift structures.
Additional upside potential is expected in the syn-rift play. The partners expect the syn-rift to contain a light oil or a condensate rich gas.
While circulating bottoms up at TD, the drill string parted at 3,390 ft and during good progress towards recovery of the drill string from the well bore, the well took a hydrocarbon kick. After the kick was safely controlled, the partners considered it prudent to move to permanently secure the well. The Partners intend to drill an appraisal well in H2 2014, ahead of development planning and will also increase 3D coverage on the block, currently covering only 25 per cent of the block, to define further prospectivity.
Afren has 22.86per cent participating interest and 40 per cent economic interest in the block, while Optimum has 60 per cent and 30 per cent participating interest and economic interest, respectively.


http://www.thisdaylive.com/articles/afren-partners-suspend-drilling-operations-in-nigerian-oilfield/165217/

THIS SHOULD BE A CASE BETWEEN BETWEEN APC AND APGA SUPPORTERS AND NOT ANAMBRA VERSUS IMO STATE. THE PEOPLE OF IMO STATE ARE NOT IN SUPPORT OF A BIGOTED, TRIBALISTIC AND CONFUSED PARTY. CHINO AND CO TAKE NOTE. APGA HAS THE SUPPORT OF THE GOOD PEOPLE OF IMO STATE. ONYE AHANNA NWANNE YA!!!!!!!!!!

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MADAM STELLA IS DOING A NICE JOB

Six Under Consideration to Replace Sanusi as CBN Governor

29 Oct 2013


By Obinna Chima


As the Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, prepares to step down in June 2014, frontline contenders for the job have started to emerge, investigations by THISDAY have revealed.

The foremost contenders in consideration can be put into two groups comprising three outsiders, who will steer a new direction for CBN and its monetary policies.

They are the Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr. Mustafa Chike-Obi; the Group Managing Director/Chief Executive Officer, Access Bank Plc, Mr. Aigboje Aig-Imoukhuede; and Managing Director/Chief Executive Officer, First Bank of Nigeria Limited (FBN), Mr. Bisi Onasanya.

The second group are insiders who share similar views with Sanusi on monetary policies and are expected to ensure continuity.
They are the three Deputy Governors of the CBN: Dr. Kingsley Moghalu, Mr. Tunde Lemo and Dr. Sarah Alade.

Whoever succeeds Sanusi next year will be the 11th central bank governor in Nigeria, following in the footsteps of Roy Pentelow Fenton (1958 - 1963); Alhaji Aliyu Mai-Bornu (1963 - 1967); Dr. Clement Nyong Isong (1972 - 1975); Mallam Adamu Ciroma (1975 - 1977); Mr. Ola O. Vincent (1977 - 1982); Alhaji Abdulkadir Ahmed (1982 - 1993); Dr. Paul A. Ogwuma (1993 - 1999); Chief (Dr.) Joseph O. Sanusi (1999- 2004); Prof. Chukwuma C. Soludo (2004 - 2009); and Mallam Sanusi Lamido Sanusi (2009 to date).

As specified in the CBN Act 2007, the central bank governor is in charge of the official bank of the Federal Government of Nigeria and provides economic advice to the federal government.

Apart from appending his signature to every denomination of Nigeria’s currency, the governor among other duties, oversees the country’s banking sector.
Alongside the Monetary Policy Committee of the CBN, the governor also determines the monetary policies of the country, which have an impact on the financial system and the macroeconomy.

In a country aspiring to attract investments, create jobs and plug the infrastructure deficit, a major consideration when appointing a central bank governor is understanding his economic philosophical underpinnings.

Will the central bank governor’s monetary policies be targeted at attaining price stability and bolstering the local currency that will be driven by a tight monetary policy stance as epitomised by Sanusi or will he adopt an expansionary approach that will lower interest rates, drive investments and create jobs?
With the North holding the CBN governorship for four times, it is expected that the post will go to the South.


The contenders are:

Mustafa Chike-Obi
Chike-Obi played a huge role in the resolution of the banking crisis that almost led to the collapse of the financial sector in 2009. AMCON under Chike-Obi bought all the non-performing loans of banks which helped to restore sanity in the financial system.
In fact, AMCON’s job which was to stabilise the banking industry was even extended to the restructuring of bad debts. The corporation had over 12,000 individual bad loans to deal with and was able to approach that without the mentality of a liquidator by supporting ailing industries that were once indebted to banks.

Chike-Obi until his appointment as the AMCON’s helmsman was the founder and managing partner of Madison Park Advisors, a financial service advisory and consulting firm in New Jersey, USA, specialising in hedge fund and private equity investment advice.

He has also held senior positions in various Wall Street firms including Goldman Sachs, Bear Stearns and Guggenheim Partners, among others.
He graduated from University of Lagos with a First Class degree in Mathematics and holds an MBA from Stanford University Graduate School of Business.

Pros
• Unlike Sanusi, he will pursue a monetary policy regime that is more expansionary.
• He will work towards lowering the Monetary Policy Rate (MPR), thereby allowing more credit to flow through the banking system to create job opportunities and support SME and real sector growth.
• By his nature, he will be more accessible and transparent in the position.
• He will only be the third governor from the South-east.

Cons
• Has been absent from Nigerian banking for a while, though his role in AMCON has helped him to catch up.
• Does not fully understand the dynamics of Nigerian politics.
• Regional considerations may count against him, given that the Minister of Finance, Director General of the Securities and Exchange Commission (SEC) and CEO Nigerian Stock Exchange are from the South-east.
(This could also be a strategic calculation on the part of President Goodluck Jonathan to retain the South-east in his support base

Aigboje Aig-Imoukhuede
Aigboje Aig-Imoukhuede’s banking career spans over two decades. He spent over 10 years at Guaranty Trust Bank Plc (GTBank) and resigned in 2001 to lead a dynamic team of accomplished bankers as the Managing Director/Chief Executive Officer of Access Bank Plc, with the mandate to transform the bank into a world-class financial services provider.
Aig-Imoukhuede’s leadership inspired Access Bank’s rapid and unprecedented growth over the past eight years which have seen the bank rank amongst the top six banks in the country.

He holds LL.B and BL from the University of Benin and the Nigerian Law School respectively. Aigboje serves on the sub-committee of the Bankers Committee on Professional Ethics.

Pros
• He is a seasoned banker who understands the dynamics and workings of the Nigerian banking system.
• He is a ruthless risk manager, much in the same mold as Sanusi, but also pro-growth and in support of women and SMEs.
• He is on several technical committees at the heart of Nigerias economic transformation from banking to equity and debt.
• He is a member of the economic management team with regional and global reach.
• He will only be the second governor from the South-south.
• Like Sanusi, he can be firm.

Cons
• He will be coming with the baggage of an owner-manager of a bank that he would have to supervise. But THISDAY checks reveal that upon leaving Access Bank, he intends to divest his shares in the bank to invest in a new venture.
• There might be a strong lobbying against him by the oil marketers who he indicted.



Bisi Onasanya
Mr. Bisi Onasanya, a fellow of the Institute of Chartered Accountants of Nigeria (ICAN), has been the Managing Director/Chief Executive Officer of First Bank of Nigeria Limited (FBN) since April 2009. Onasanya also serves as Chairman at Kakawa Discount House Limited.

Onasanya boast over 23 years post-qualification experience and until his appointment as MD/CEO of FBN, was Executive Director, Banking Operations and Services. He joined FBN Holdings Plc (formerly known as First Bank of Nigeria Plc) in 1994 as a Senior Manager and was previously Deputy General Manager/Group Head, Finance and Performance Management Department, Coordinator, Century 2 Enterprise Transformation Project, as well as founding MD/CEO of First Pension Custodian Nigeria Limited, a subsidiary of FBN Holdings Plc.

Pros
• Would be bringing a wealth of experience garnered in the banking and financial services sector.
• If pedigree is anything to go by, Onasanya will be following in the footsteps of Joseph Sanusi and Sanusi Lamido Sanusi, who were previously managing directors of FBN, Nigeria’s oldest bank.
• His appointment will assuage the feelings of marginalisation in the South-west under Jonathan.
• He will only be the third governor from the South-west.

Cons
• The choice of another CBN governor from First Bank could raise eyebrows over the reluctance by government to beam its searchlight on other banks (although Ogwuma was from Union Bank of Nigeria Plc).
• He is not an economist.
• He is by nature insular and may be less accessible.

Kingsley Moghalu
Kingsley Moghalu has been the Deputy Governor, Financial System Stability since 2009. He led the implementation of far-reaching reforms to enhance the quality and stability of banks and other financial institutions, the management of systemic risk to Nigeria’s banking system.

Moghalu is a member of the Board of Directors, the Monetary Policy Committee, and the Committee of Governors of the CBN, and is also a member of Nigeria’s Economic Management Team. He is a member of the board of directors of AMCON.

He obtained an LL.B (Honours) degree in Law at the University of Nigeria, Nsukka in 1986, a BL from the Nigerian Law School, Lagos, an M.A. from The Fletcher School of Law and Diplomacy at Tufts University, USA, and a Ph.D in International Relations from the London School of Economics (LSE) at the University of London, UK. He also obtained an International Certificate in Risk Management from the Institute of Risk Management, London, UK.

Pros
• He contributed significantly to the resolution of the banking crisis which is vital for the job.
• He is experienced in risk management.
• His experience as a deputy governor of the central bank could work in his favour.
• He will only be the third governor from the South-east.

Cons
• Although it should not matter for a job that requires a keen sense of economic management, regional considerations may count against him.
• The presidency may be more favourably disposed to looking for Sanusi’s replacement from outside the CBN.



Tunde Lemo

Lemo, who is currently the Deputy Governor Operations, has been a deputy governor at the CBN since 2004. He is presently driving the industry-wide shared services initiative towards achieving efficient banking services with 30 per cent cost savings for the Nigerian banking industry and greater penetration of banking services. Prior to this, he was Deputy Governor, Financial Systems Surveillance. He is an experienced and versatile public officer and financial manager.

Prior to his appointment as deputy governor, he had led the transformation of Wema Bank Plc as MD/CEO between 2000 and 2003 resulting in the bank’s performance which ranked it as one of the top 10 most profitable commercial banks in Nigeria in 2003.

He is a fellow of the Institute of Chartered Accountants of Nigeria as well as fellow of the Chartered Institute of Bankers with significant leadership and top management experience in both the public and private sectors spanning over 26 years. He obtained a First Class Bachelor of Science degree in Accountancy from the University of Nigeria, Nsukka in 1984 where he won seven academic laurels, including the best overall graduating student in the faculty.

Pros
• If appointed, he will be coming to the position with extensive banking experience, reinforced by his experince at the central bank.
• Although it should not matter for a job that requires a keen sense of economic management, regional considerations may work in his favour.
• He will only be the third governor from the South-west.

Cons
• Some have continued to question the role he played under the former CBN governor, Professor Chukwuma Soludo, when the rot in the banking system was not uncovered.
• The presidency may be more favourably disposed to looking for Sanusi’s replacement from outside the CBN.



Dr. Sarah Alade
She has been the Deputy Governor, Economic Policy since 2007. She attended the University of Ife, Ile-Ife (now Obafemi Awolowo University) where she obtained a B.Sc (Hons) degree in Economics in 1976. She also obtained an M.Comm degree at the University of Melbourne, Melbourne, Australia in 1983 and a Ph.D in Management Science (Operations Research) from the University of Ilorin in 1991.
She joined the CBN in 1993 as an Assistant Director in the Research Department where she served as Head, State Government Finance Office (1993-1996), Head, Federal Government Finance Office (1996-2000) and Head, Fiscal Analysis Division (2000-2004).

Alade has served on the teams of major economic policy studies, and has been involved in the preparation of the CBN’s Monetary and Credit Policy Proposals over the years. She was actively involved in the drafting of the Medium-term Economic Programme (MTP) for Nigeria and the IMF staff Monitored Programme/Standby Arrangement.

Pros
• If appointed, she will be the first female CBN governor.
• She is a qualified economist.
• Regional consideration may favour her.
• Her experience as a deputy governor of the central bank could work in her favour.
• She will only be the third governor from the South-west.

Cons
• The presidency may be more favourably disposed to looking for Sanusi’s replacement from outside the CBN.
• Some could question the role she played under the former CBN governor, Professor Chukwuma Soludo, when the rot in the banking system was not uncovered

http://www.thisdaylive.com/articles/six-under-consideration-to-replace-sanusi-as-cbn-governor/162954/

azyaq: Is this woman in question too big house of rep to call,
Naija country where steal billion n get bail steal phone n go to jail

GOD HELP US OOOO

THE AVIATION MINISTER HAVE NOT BEEN FOUND GUILTY BY ANY COURT OF LAW, HENCE SHE IS INNOCENT

MADAM STELLA ODUAH IS A HARD WORKING AND PERFORMING MINISTER WHO IS BEING CRITICIZED BY TRIBAL BIGOTS, CORRUPT PERSONS AND UNDER-PERFORMING CONTRACTORS BECAUSE SHE DOES NOT CONDONE CORRUPTION, TRIBALISM AND UNDER-PERFORMANCE. THE AVIATION MINISTER HAVE DELIVERED ALL HER PERFORMANCE BASED TARGETS TRANSFORMING AIRPORTS ACROSS THE COUNTRY.

N225m armoured cars: Reps reject calls for Oduah’s sack
Our Reporter October 29, 2013 No Comments »

…Deny seeking minister’s arrest

FROM IHEANACHO NWOSU, Abuja

The House of Representatives has rejected the clamour by some Nigerians that the Minister of Aviation, Ms Stella Oduah, be relieved of her position by President Goodluck Jonathan over the purchase of two BMW bulletproof cars by the Nigerian Civil Aviation Authority (NCAA) valued at N225million.

It also dispelled the rumour that it was planning to order for the arrest of the embattled minister.

House Committee Chairman on Aviation, Nkeiruka Onyejeocha, disclosed the stand of the Lower Chamber in an interview with newsmen.

Onyejeocha’s committee last week, commenced a public hearing on the purchase of the armoured vehicles.

Oduah, NCAA officials and Chairman of Coscharis Motors, Mr. Cosmos Maduka, whose company sold the bulletproof cars, are expected to appear before the committee tomorrow.

At last week’s hearing, the Bureau of Public Procurement (BPP) accused NCAA of breaking procurement laws in the purchase of the vehicles. The agency was also alleged to have violated the appropriation law by going outside what was approved for it in the 2013 budget.

In her reaction to calls by some people that Oduah should either resign or be kicked out by President Jonathan, Onyejeocha dismissed the calls as uncalled for. She argued that until the ongoing investigation is completed, Oduah cannot be accused of any wrongdoing.

The committee chairman said: “When you haven’t given her fair hearing, it is wrong. She is entitled to fair hearing and until we finish our investigation, until you indict somebody, you don’t call for her resignation or that she should be sacked.

“For me, you allow one to have a fair hearing and you get to a bridge before you cross it. One of the questions that we asked was were the cars bought? Were they appropriated for? Under any Nigerian law, could you have done this? When we conclude our investigation and submit the report, we’ll know if she is the one to resign or it is another person.”

On the speculation that her committee was planning to issue arrest warrant on the minister if she fails to appear before the probe panel, Onyejeocha dismissed such claims. She stated that her committee had no doubt in its mind that the minister would honour the invitation to the public hearing.

The lawmaker defended Oduah’s absence from last Thursday’s hearing, saying that she was on another assignment.

She said: “I don’t want to talk about that because she didn’t abscond. Her programme was on, so to say, before we started our investigation. I don’t see her not appearing on Wednesday.

http://sunnewsonline.com/new/cover/n225m-armoured-cars-reps-reject-calls-oduahs-sack/

I am not surprised because Yorubas are known for tribalism, corruption and falsehood

tpacalipse: Yeah! Dream on brother.

IT IS NOT A DREAM BUT A REALITY

I THINK YOU SHOULD CHANGE THE TITLE OF THIS THREAD TO SUIT THE CONTENT. THE CORRUPT YORUBAS THAT HAVE RUINED THE AVIATION SYSTEM ARE NOW CRYING BECAUSE LADY STELLA HAVE CURTAILED THEIR EXCESSIVE CORRUPTION AND BIGOTRY IN THE SYSTEM

AN IGBO MAN WILL BE PRESIDENT EITHER IN 2015 OR 2019 BY GOD'S GRACE AND THERE IS NOTHING FANATICAL AWUSAS OR BIGOTED YORUBAES CAN DO AGAINST IT.

THE WRITER OF THIS CRAP IS A DUMB YORUBA BIGOT TRYING TO DEFEND HER TRIBE'S MAN WHILE BLAMING THE AVIATION MINISTER AND OTHER DIRECTORS WITH FALLACIES AND LIES EMANATING FROM HER EMPTY HEAD. THE BIGOTRY OF THE YORUBAS NEEDS TO STOP.

We will protect and defend Nigeria’s territorial integrity - Army Chief
at Friday, October 11, 2013

The Chief of Army Staff, Lt. Gen Azubuike Ihejirika has said the Army is ever ready to protect and defend the country’s territory integrity, the current security challenges not withstanding.


Ihejirika gave the assurance yesterday when he received members of the Senate Committee on Defence and Army at the Army Headquarters.

The Army chief told the committee of the establishment of a Nigerian Army language school where French is being taught.

According to him, the fact that Nigeria is surrounded by Francophone countries in many of its borders necessitated the establishment of the school, in view of the current security challenges.

Ihejirika also informed the lawmakers that the Nigerian Army was denied the leadership of the United Nations Intervention Force in Mali on the ground that qualified officers of the Nigerian Army could not speak French.

He added that the school would teach French and Arabic to enable officers and men avail themselves the opportunity to learn other languages outside the English language.

The Army chief hinted that in the near future, one of the considerations for appointments in the Army would be proficiency in one other language besides English.

He observed that the inability of officers and men to understand French and other major foreign language has adversely affected cooperation with neighbouring countries.

Ihejirika lamented that lack of funds had slowed down the execution of various projects in the Army, assuring however, that the projects would be embarked upon as soon as funds are made available.

He told the lawmakers that the newly established 7 Division of the Army was tailored towards counter insurgency operations in the northeastern states.

According to him, there were constraints in moving troops from Jos, Plateau State to troubled areas in the northeast, particularly Maiduguri, Borno State, which he said is bigger in size than some African countries.

Chairman of the Senate committee, Senator George Sekibo said his committee would a tour of the various project sites of the Army to ascertain the level of performance.

http://www.nigerianeye.com/2013/10/we-will-protect-and-defend-nigerias.html

emmatok: Stop the lies, you are Igbo not Ijaw.

Yorubas got nothing to loose of Nigeria goes apart.
We have good land for Agriculture
We have large Crude oil deposit in Lagos, Ogun and Ondo.
We are currently the most industrialized region in Nigeria with Ogun leading.
We have the best educational institutions in Nigeria.

You people have all these, yet you people suffer from poverty and diseases. Nonsense!!! We Ijaws supported Obasanjo, why cant you yorubas support us ? Do you know there are Igbo people in Delta and Rivers state ?WHEN THE TIME COMES YOU WILL KNOWN THAT NIGER DELTA AND IGBOS ARE UNITIED. GEJ FOR PRESIDENT

ijaw citizen: Good reply except the part where you started day dreaming. South South won't form a nation but the Niger Deltans will. There are certain people in the South South who don't belong to Niger Delta.

I ALWAYS LAUGH WHEN I SEE A YORUBA MAN LIKE YOU PRETENDING TO BE A NIGER DELTAN YET NO LACK COMPLETE KNOWLEDGE OF WHAT WE IN THE NIGER DELTA WANTS. IF NIGERIA DIVIDES TODAY MAKE NO MISTAKE ABOUT IT, THE NIGER DELTA WOULD EITHER FORM A COUNTRY WITH THE IGBOS OR STAND ALONE WITH STRONG COOPERATION WITH NDI IGBO. YOU ARE JUST A FRUSTRATED YORUBA BIGOT WHO IS FULL OF FEAR. WE THE IJAWS HAVE MADE IT CLEAR THAT WE WOULD VOTE GEJ IN 2015 AND NDI IGBO IN 2019, THE SOONER YOU YORUBA & HAUSA BIGOTS REALIZE THIS, THE BETTER.

henrimoto: @rare diamond. weldone (WELL DONE). you have realy (REALLY) written like a primary school student. you should have waited for the project to be completed before writing these these false claims.. as for the malt company, i will want you to leave your town (aba) to visit other industrial cities in Nigeria before you conclude.. (my dear friend travel and see!) do you know where they call lagos ? have you been there before ? Travel and see.

You are an ignorant simpleton with no brain. The aba malting plant which was incorporated in 2004 have been in operation since , it was only expanded by NBL in 2008 to be the biggest malting plant in THE WHOLE OF AFRICA.

The Fidelity bank financed LARGEST ALUMINUM CAN FACTORY have been completed and would be commissioned by president Goodluck Jonathan. You don't have to be a genius to realize that the project have reached an advance stage as at march 2013, prompting the MD of Fidelity Bank to declare that the factory would be completed in a couple of months (note he made that statement in March '13 we are October now).

Work is progressing in both the Mega mall and industrial city, and they would be delivered in 2014 by God's grace as planned. All these developments are happening in Aba despite the under performance of Gov T. Orji.

I have contributed to your mental enhancement by correcting your wrongly spelled words at no cost, just to save you from your complete ignorance and bigotry

Fidelity Finances Africa’s Largest Aluminium Can factory

Monday, 04 March 2013 15:58
MATTHEW OTOIJAGHA

FIDELITY Bank Plc has said that it is financing the multi-million naira aluminium can project in Aba, South East Nigeria. The factory which will be ready in a couple of months’ time will take off with an initial production capacity of 1.2 billion cans per annum.

This clearly surpasses the Agbara Can Manufacturing Factory that took off with an initial production capacity of 600 million cans per year, thus making the new plant the largest aluminum can factory in Africa.

Managing Director and Chief Executive, Fidelity Bank Plc, Mr.Reginald Ihejiahi who made the disclosure to journalists, at the weekend in Lagos,explained that the financing options adopted by the bank were largely driven by its commitment and faith in the development of the Nigerian economy. According to him,“We are a bank operating in an emerging market and we believe that the industrial sector remains the heart of banking in such markets.”

Ihejiahi, whose bank also financed a similar project in Agbara, Ogun State, further explained that as an institution in business purely for commercial reasons, the bank is mandated to report to its shareholders. This,he said, implies that the bank should have steady streams of income at the end of the year, and therefore, should carefully select the projects it would sponsor at any given time, as part of its commitment to the development of the economy. Said he,“When we opened the Agbara Can manufacturing factory which was commissioned by President Goodluck Jonathan in 2010, it started with 600million cans per annum. However, the Aba Can manufacturing company which is nearing completion will take off from the first day with 1.2billion production capacity and we believe that with this pace Nigeria will soon be self-sufficient in aluminum can production.”

Ihejiahi explained that the facility offers enormous opportunity for job creation and other economic benefits to the citizens of the country. The Aba Can factory is expected to service the breweries and beverage companies in the South East and South South parts of the country, and by extension other parts of Nigeria. “We are also not ruling out export opportunities to West African and other African countries because of the size of the factory,he further stated.

Meanwhile South African Breweries has just opened a brewery in Onitsha and the market is quite large. They are expected to be a major beneficiary of the aluminum can project.

http://www.nationaldailyngr.com/business-news/fidelity-finances-africas-largest-aluminium-factory

Abia Signs PPP Framework for $1Billion Osisioma Industrial Park

By Chineme Okafor
Based on its decision to relocate industrial workshops and warehouses within the state to a befitting site, the Abia State Government has entered into a Public-Private Partnership (PPP) framework with a firm, Acroideation International Limited, to commence the development of a $1 billion 300-hectare industrial park to be located at Osisioma.

The project, which first phase was expected to be inaugurated in December 2014 with the construction of about 34,346 units of workshops is however projected to consist of a totalled number of 68,692 units of industrial workshops and warehouses sited on 200 hectares, while 1,000 units of residential estate would occupy the remaining 100 hectares when completed.


Tagged the “Abia International Industrial City” (ABIIC), Head, Project Management Team of Acroideation, Seyi Olufade, told journalists yesterday in Abuja, that ABIIC, which was borne out of the need to establish key sectors of the economy of the state, would establish the foundation for the development of competitive domestic products for export, thus, launching the state into the rich field of global economy within time.


Olufade explained that with all its offerings such as expansive shopping malls, warehouses and over 10,000 capacity commercial car park amongst others, ABIIC which he said, was just about a kilometre from the state’s commercial town of Aba will be operated on a Build Operate and Manage (BOM) basis for 35 years from the date of inauguration by Acroideation.


He also said the firm had secured technical partnerships from European and Chinese firms, adding that the United Nations Industrial Organisation (UNIDO), Nigeria’s Bank of Industry (BoI) and Nigerian Investment Promotions Commission (NIPC) amongst others have shown keen interests in the industrial park.


Olufade said: “With the visit of the then Work Bank President, Paul Wolfowitz, in 2005 to view the popular Ariaria market Aba in company of the now Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, it was clear that all the affluence and influence are tucked in Ariaria market and the sway it portends to the Nigerian economy.


Critical elements affecting the growth of the industrial market include lack of product branding, design, packaging, marketing and funding, the ABIIC project is the response to these problems; it is a landmass of 300 hectares in Osisioma, about 1km from Aba town.”


He disclosed further that the industrial complex would rely on the 24 hours electric power supply pledge of the Geometric Aba Independent Power Plant to power its activities with further alternative arrangements, adding that the PPP had been crafted to insulate it from political interference in the case of changes in government.


“We have the strong partnership of the state government, the needed funding and technical expertise have been secured and we are ready to push forward the project with a groundbreaking event slated for September 2013 to herald the commencement of construction,” he stated.

http://www.thisdaylive.com/articles/abia-signs-ppp-framework-for-1bn-osisioma-industrial-park/156836/

Aba Mega Mall project is private sector driven – Obanua

on September 30, 2013 / in Business, Finance 12:10 am / Comments

BY YINKA KOLAWOLE

Abia State government recently entered into partnership with a real estate investment and infrastructure company, Greenfield Assets Ltd, to develop the Aba Mega Mall, comprising of 5,830 ultra modern shops in Aba. In this interview, Group Managing Director, Greenfield Assets, Paul Obanua, gives insight into the significance of the project. Excerpt.

What is the Aba Mega Mall project all about?
The project is geared towards creating a commercial hub for the entire eastern and south-south regions of the country. It is designed to stimulate the urban renewal of Aba city, by providing a structured facility where trading and other commercial activities can be done in an orderly manner. Presently in Aba, every nook and cranny including the roads, drainages and streets, are trading posts. This project is an attempt to sanitise the city by giving the people of Aba a dignified trading centre, which from a survey conducted by us, the traders and dwellers in the city are eager to have it operational.

Are you constructing on virgin land or will already existing properties pave way for the project?

The construction has already begun and it is on a virgin land. The Aba Mega Mall would consist of 5,830 ultramodern shops and they will come in four sizes of 12sq meters, 16sq meters, 24sq meters and 48sq meters. Now the interesting part is that the facility will also have provisions for banks, security post, petrol station, 25,000 sq meters of climate-controlled warehouse space, restaurants and a massive parking space for over 5,000 cars. When completed, the mall facility management will require considerable manpower in excess of 20,000 direct jobs and over 100,000 indirect jobs.

What is the significance of this project to the people of Aba and Abia State in general?

The significance of the Aba Mega Mall project is that we are providing the most needed infrastructure for the South-East, South-South, and the entire country and even beyond our borders. We are talking Cameroon, Gabon, Togo, Ghana and the entire sub region of West Africa. At the moment there is no standard retail infrastructure in Aba. We are building a world-class retail facility, with 10MW 24 hour power supply, paved roads, clean sanitation, guaranteed security in order to create an atmosphere of world-class shopping centre with peace of mind. The availability of the mall would give the people an opportunity to grow their customer base, market share and profit, while regenerating the city, which becomes a win-win situation for the traders and the city.

An insight into the profile of foreign firms partnering Greenfield on the project

Q B Construction is a renowned Construction Company in the United States. They have done projects all over the US. There is JK Structures Limited, a Pan European company; they have the elevated concrete technology. JK Structures has been in existence for almost 30 years and were involved in the building of the Euro Disney.We are also involving local contractors. The competencies of our development partners are not in doubt, and we call them our development partners because they have some level of venture financing.

Does Greenfield have needed resources to ensure the mall does not become one of uncompleted government projects?

First of all, government does not intentionally fail in their projects but the level of bureaucratic bottleneck in the Nigerian system is the reason many projects fail. Secondly, the Aba Mega Mall project is private sector driven.

The Abia state government is encouraging private sector driven development; this is what governments all over the world do by creating an enabling environment, laws and support system to the private sector to assist in developing the economy of a state. Aba Mega Mall can never be one of the abandoned white elephant projects because before the project started we had attained what is called a financial close; this means that the money to build is already in place before we went to site.

Based on your experience, do you think that the PPP route is the way to go in the development of Nigeria?

Yes, it’s the way to go, but the various governments should endeavour to keep to agreements. The government alone does not have the money and all other resources to develop the country. Take a look at our national budget which is barely $30 billion (less than that of New York City Council 2014 budget of $70 billion) will not be enough to reconstruct all our federal highways as there are today. Hence governments across the country should do everything possible to encourage private investors and keep to PPP agreements.

What is Greenfield’s vision for the city of Aba in the next 10 years?
In the next one year we would have completed the mall and have it operational, after which we’ll then go into building the 1,000 hectares Free Trade Zone. On the other the hand, the various power projects in and around the city would have also become fully operational. Aba having the right infrastructure in place, in 10 years’ time will be comparable to places like Shenzhen and Chengdu in China. It will be a commercial/industrial hub for Africa in the next 10 years.

The idea of the project is to eliminate street trading. One of the causes of people trading on the street is the lack of funds to rent a decent shop. Does the Aba Mega Mall intend addressing this by making shops cheaper to rent?
I will tell you that street trading is not as a result of the inability to afford a shop but stems from lack of adequate retail infrastructure.

Trading is a commercial decision geared towards wealth creation. So when you’re talking of such economic decisions, you are looking at a venture where the intention is to make profit. Trading is not a social activity, neither is it born out of communism. Every trader is a capitalist and so the interest of a capitalist is to engage in a sustainable venture that offers growth and profit. In effect, if you have a commercial facility where people can grow their business and make more sustainable profit, they’ll go there. Why would anyone want to remain on the streets if there’s an alternative location where customers consider more accessible, secure, orderly, healthy and conducive to do business; wouldn’t the traders rather have their trading outlets there?

http://www.vanguardngr.com/2013/09/aba-mega-mall-project-private-sector-driven-obanua/

http://www.ngrguardiannews.com/property/property/130977-abia-partners-greenfield-on-aba-mega-mall-

LARGEST MALTING PLANT IN AFRICA BEGINS OPERATIONS IN ABA


He said the company's decision to site the ultra-modern plant in Aba has further underscored the investment potential of the state, assuring that the government would provide the enabling environment to encourage the setting up of more industries in the state.

He also pledged to ensure the security of lives and property and charged the state's Commissioner for Police to carry out this mandate efficiently.

Orji, who led top members of his cabinet to the occasion, later unveiled the commemorative plaque and went on a facility tour of the plant, accompanied by senior management of the company.

In his address, Mr. Michiel Herkemij, managing director/chief executive, Aba Malting Plant, described the investment as a manifestation of the company's unalloyed support for the growth and development of Abia State.

He recalled that Aba Malting Plant, formerly known as Universal Malting Plant, was incorporated on October 8, 2004, by a group of investors to produce and supply high quality malted sorghum for the food and beverage industry.

Noting that the strategic initiative was conceived to create employment opportunities for Nigerians through technical support to farmers and other entrepreneurs, as well as empower them to produce the vital raw material locally, he said the Aba Malting Plant acquired the Universal Malting Plant on March 1, 2008.

"As at December, 2008, Aba Malting Plant had invested about N10 billion in this project to ensure its sustenance," adding, "Aba Malting Plant is an ultra-modern highly automated sorghum malting plant with the latest technology for the sorghum malting process. The plant is the biggest of its kind in the whole of Africa."

According to Herkemij, the plant would assist in ensuring high quality malted sorghum for the production of beverages of the highest quality for consumers.

"The plant will also become a centre of excellence for sorghum malting knowledge and skills.

"Our goal is to assume the role of an African regional knowledge centre for sorghum research. In addition, it will create sustainable employment through direct engagement in sorghum farming and other activities related to sorghum supply chain management," he said.

"All these massive investments," he said, "have made the company one of the highest investors in the state."

Besides, he appealed to stakeholders to support the government's vision for quick industrial growth and investment promotion in the state by creating the enabling environment for businesses to thrive.

Dignitaries from all walks of life-including traditional rulers in the locality, top officials of government parastatals and agencies, graced the occasion, while Chief Kola Jamodu, the Chairman of Aba Malting Plant, led the company's management team to the ceremony.

http://www.independentngonline.com/news/ndig/article02

ABA IS ONE OF THE WORLD'S INDUSTRIAL CITY.

1 BIGGEST MALTING PLANT IN AFRICA IS LOCATED IN ABA

2 BIGGEST ALUMINUM CAN FACTORY IN AFRICA IS IN ABA

3 BIGGEST MEGA MALL IN THE WORLD IS IN ABA

4 ABA HAS THE LARGEST CONCENTRATION OF INDUSTRIAL CLUSTERS IN AFRICA

5 LARGEST INDUSTRIAL CITY IN WEST AFRICA IS IN ABA

ETC

Poverty is a big issue in yoruba land. Their govt needs to reduce the high rate of poverty and under development in south west nigeria

IMO STATE HAVE HIGHEST CONCENTRATION OF EDUCATED PERSONS IN AFRICA. The statistics vindicates this position

Nice developments

FFK IS A BIGOT