₦airaland Forum

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The tallest hotel in West Africa, Intercontinental Lagos, built at a cost of N30 billion, was unveiled in Lagos yesterday.

The hotel located at Kofo Abayomi Street, Victoria Island, Lagos, Southwest Nigeria is a 23-storey building containing 358 rooms and 37 suites and a Presidential suite.

The Intercontinental Lagos, a subsidiary of the Intercontinental Hotel Group, IHG, is owned by the Milan Group.

Chairman, Milan Group, Ramesh Valechha said the hotel would change the landscape of Lagos and boost the hospitality industry in the state.

He disclosed that Memorandum of Understanding for the project was signed on 31 March, 2004 while it took two years to complete the design work before the conceptualisation of the project began.

He stated that the Lagos State Government, Skye Bank and Wema Bank were supportive of the project.

Valechha disclosed the building of the hotel cost over N30 billion while 650 jobs were created for Nigerians.

Regional General Manager, IHG, Africa, Karl Hala said the hotel is the leading hotel in Nigeria, saying the group had 170 Intercontinental Hotels in 60 countries of the world.

He described the unveiling of the hotel in Lagos as a significant milestone in the hospitality industry, adding that the group also had 20 Intercontinental Hotels in Africa and that the hotel was the only 5-star hotel in Nigeria.

Chief Executive Officer, Design Group, Bayo Odunlami said it took lots of challenging moment in the design and conceptualization of the project, saying he was happy that the group overcame the hurdles.

http://pmnewsnigeria.com/2013/09/29/fashola-unveils-west-africas-tallest-hotel-in-lagos/

Kazeem Ugbodaga
Governor Babatunde Fashola of Lagos today unveiled the tallest hotel in West Africa, Intercontinental Lagos, built at a cost of N30 billion.
The hotel located at Kofo Abayomi Street, Victoria Island, Lagos, Southwest Nigeria is a 23-storey building containing 358 rooms and 37 suites and a Presidential suite.
The Intercontinental Lagos, a subsidiary of the Intercontinental Hotel Group, IHG, is owned by the Milan Group.
Unveiling the 5-star hotel, Fashola said the edifice would surely boost the hospitality and tourism industry in the state, while urging other entrepreneurs to look inward and invest their money in hotels and public utilities such as roads.

Fashola at the official opening of Intercontinental Hotel in Lagos
According to him, the unveiling of the hotel represented the increasing brands of hotels making Nigeria their choice destinations, saying that the tourism industry would be boosted by the new edifice.
“The tourism business is the major sector that creates jobs but sadly, this sector faces lots of challenges across the continent. The Lagos State Government is committed to providing the enabling environment,” he said.
Fashola harped on collection of consumption tax and urged hotels and other in the hospitality business to help the government to collect the tax for developmental purpose.
“Consumption taxes are not levied on hotels but on consumers. The role of hotel is to collect the tax and give it to us. It is by collecting this taxes that you empower us to provide schools, public utilities and others,” he stated.
Chairman, Milan Group, Ramesh Valechha said the hotel would change the landscape of Lagos and boost the hospitality industry in the state.
He disclosed that Memorandum of Understanding for the project was signed on 31 March, 2004 while it took two years to complete the design work before the conceptualisation of the project began.
He stated that the Lagos State Government, Skye Bank and Wema Bank were supportive of the project.
Valechha disclosed the building of the hotel cost over N30 billion while 650 jobs were created for Nigerians.
Regional General Manager, IHG, Africa, Karl Hala said the hotel is the leading hotel in Nigeria, saying the group had 170 Intercontinental Hotels in 60 countries of the world.
He described the unveiling of the hotel in Lagos as a significant milestone in the hospitality industry, adding that the group also had 20 Intercontinental Hotels in Africa and that the hotel was the only 5-star hotel in Nigeria.
Chief Executive Officer, Design Group, Bayo Odunlami said it took lots of challenging moment in the design and conceptualization of the project, saying he was happy that the group overcame the hurdles.

http://pmnewsnigeria.com/2013/09/29/fashola-unveils-west-africas-tallest-hotel-in-lagos/?utm_source=feedburner&utm_medium=twitter&utm_campaign=Feed%3A+PmNewsNigeria+%28PM+News+Nigeria%29

ASUN strike may last 1 years.

How I wish there is Lagos state police (LASPO).

Let me continue our dialogue (from last week) with an exhortation of one of Nigeria’s authentic heroes, Aliko Dangote.  By the way, he is also my employer and even though I have been on an indefinite leave of absence since 2001, he has not declared me AWOL. I also claim with pride that he is a big brother and a friend. But I have a personal complaint. His bottomless wealth is yet to rub off on me. He began a bold and daring initiative in 1999 to transform from the less tasking and quick returns commodity trading into the fog and turbulence of massive industrialisation. He does not do things in half measures.

The year 1999 was a critical year for all Nigerians, more so the big players. It was a year in which the Nigerian political space was brimming with Yoruba triumphalism. The struggle to reclaim the mandate of President-elect Moshood Abiola had ended with his death and that of his oppressor, General Sani Abacha. Going forward, the Nigerian state adopted and implemented a comprehensive policy of pacifying and compensating the Yoruba. The laws and regulations binding the registration of political parties, were, for instance, waived to accommodate the Yoruba-based party, the Alliance for Democracy (AD).  And it was an open secret that the Presidency of Nigeria was theirs for the taking. Recall that the two presidential candidates were two Yoruba chiefs, Olu Falae and Olusegun Obasanjo. The former uniquely held the presidential candidature of two political parties, the AD and the All Nigeria Peoples Party (ANPP) but the two combined together was no match for Obasanjo’s Peoples Democratic Party (PDP).

This triumphalism impacted critically on Dangote. There were loud murmurs and animus that the concession to cite two or three major factories in the Apapa port-among them the third largest sugar refinery in the world, was a product of Northern nepotism in general and specifically under Abacha. I was, at the material time, one of the blue eyed boys of the Afenifere oligarchy. It was in this capacity and recognition that Dangote recruited me to become the public face of Dangote group. I suspected that this cooptation tempered the nascent Yoruba economic bellicosity against him.

A friend to President Obasanjo was dispatched to enlist the overriding support of their most influential ‘son’ against Dangote. Those who know Obasanjo can very well predict his reaction in such circumstances. He walked the Yoruba emissary out of the villa and assigned him the status of persona non grata from that day on. Typically, Obasanjo then began to take an active interest in the endeavours of Dangote. The interest was soon upgraded to benevolence from which Aliko and Nigeria thrived and blossomed. To the glory of Nigeria, Dangote has become the poster boy of African industrialisation drive and the wealthiest black man to boot. But you have not seen anything yet. While Nigeria is looking at 2015 with trepidation, our man is looking at it with a determination to rise to the very top of Forbes magazine ranking of the wealthiest of the wealthy. If I were you I will not bet against him.

Only a week ago, he brought to public notice the investment of $9.5 billion.  The mega investment covers a petrochemical and fertiliser industrial complex and a medium scale petroleum refinery located in the intended Olokola economic conurbation straddling Ondo and Ogun States.  It is a platitude to say Nigeria is in dire need of more Dangotes. Yet as betroth Brecht observes, ‘unlucky is that society without a hero, but unhappy is the one that is in need of heroes’. To the eternal credit of President Goodluck Jonathan, he demonstrated a commensurate appreciation of this unique Nigerian by honouring him with the Grand Commander of the Order of Niger (GCON).

Is it not ironical that despite the vaunted superior modernisation of the Yoruba, it is a guy from Kano who came to industrialise the South-west-exceedingly more than any Yoruba investor has ever attempted? There was a documentary that recently ran on the DSTV cable TV titled “the makers of America”. The cast comprised five historical figures including JP Morgan and Rockefeller; I cannot now remember the other three but they were all entrepreneurs and high stake investors. As distinguished as many American politicians were, no mention was made of any. This remarkable documentary was only being consistent with what we were taught in our political science classes- that the economy is the substructure, the foundation upon which political superstructure is anchored.

I was recently shouted down and lectured, with much vehemence, that ‘Dangote is the most hated man in Kano’. I was so astounded and provoked that I had to hurriedly leave the environment lest tempers begin to rise beyond control. And how did he acquire this dubious trophy? Nothing more than infantile Kano nationalism which requires him to make investment decisions not based on economic rationality but on the son of the soil sentiments. Had he taken that course, we surely would be telling a totally different kind of story today. The precedent of advanced economies indicates that one of the crucial precursors to their quantum leap on the development ladder was the historical epoch referenced as ‘the age of rationality’. How rational would it be for him to ignore the comparative advantage of the factors of production including but not limited to coastal accessibility; proximity of raw materials and market that Lagos presented and preferred Kano as investment destination.

No doubt, there is a lot of anger in the ‘North’ over the Nigerian presidency. But it is a misplaced emotion. Obasanjo was president for eight years yet the road leading to Abeokuta through Otta has for long been abandoned and neglected. He patronised Dangote a lot (and could not care less from which corner of Nigeria he hails from) as any enlightened Nigerian leader should do. His presidential court was populated a lot more by smart guys and gals who do not answer to Yoruba names.  The value of Obasanjo’s Presidency for the Yoruba was little else than symbolic. He often told us that rather than indulge in nepotism manoeuvre to favour his ethnic kin what he would do was to create a level playing field and anticipate that the Yoruba would do well given their relative competitiveness. 

It has been said a lot by my friends and brothers from the North that the many years of the incumbency of northerners in (in and out of uniform) power at the centre has seldom reflected in any positive and advantageous impact on the region. For substantial parts of the South, hankering for this office is mostly a matter of ego and mainly symbolic; to be assured that all Nigerians are equal citizens. The mentality of indispensable ambition for presidential office should not be a received wisdom for our generation and others down the line.

This is one of the reasons I’m not a fan of General Mohammadu Buhari. More than any other leader from the North, he has encouraged this parochial obsession with the office of the President; of We vs Them. He has contested for this office three times consecutively yet, we do not see in him any familiarity with any other region than the Muslim North. As the Boko Haram crisis escalated, Buhari was importuned several times to mediate and facilitate a dialogue with the insurgents. Every such entreaty was angrily rebuffed by him. He would rather focus on deriding Jonathan for his lack of capacity to secure the nation. Yet when the president finally said enough was enough and backed the tough talk with military siege on the insurgents, it was Buhari who protested that the Boko Haram were being treated unfairly in contrast to the generous panhandling of the Niger Delta militants.

Amongst all who has had the privilege of holding the highest office in the land particularly from the north, it took Obasanjo from Abeokuta to brave the odds and go to Maiduguri to dare the lion in its den-with a mission to tame rather than kill the lion. To underscore the precarious nature of this mission, the senior brother of the dead Boko Haram leader who hosted Obasanjo was gunned down the following day. I once suggested to former military President Ibrahim Babangida-(whose easy, pleasant and likable personality I still could not reconcile with his adventurous military career) to convene a mini national summit of the younger generation of Nigerians to encourage bonding and brotherliness across the cleavages. He readily agreed but the idea ultimately faltered resulting from errors of commission and omission of both of us. However, with or without me, I believe it was an initiative he should have carried forward

For the record, I should reiterate the point that I have a fairly close relationship with IBB and I admire General Yakubu Gowon and President Shehu Shagari for steadfastly standing above any partisan fray. I cannot say the same for President Obasanjo. Yes, he is an activist by nature but he could sufficiently exercise this predilection in international engagements rather than the lesemajeste of partisanship within and outside of PDP.

There is an Islamic admonition which enjoins that ‘power is best given to him who does not crave it’. I might include the qualification ‘to him who does not need it’. If there is one Nigerian who does not need the presidential toga that person is AlikoDangote . He has absolutely no need to neither fiddle with the public till nor allow anyone else to do so. He is incomparably driven and energetic to pull Nigeria up by the collar. He can be unreservedly and honestly characterised as a detribalised Nigerian. The Nigerian economy will receive from him the best nurture we can ever hope for. With him we would be putting our best foot forward and I’m fairly confident that President Jonathan will be enormously happy to have him as successor whenever he makes that determination. 2015?

http://www.thisdaylive.com/articles/dangote-for-president-/158864/

PDP candidate rejects Offa rerun victory against KWASIEC's announcement
2013-09-04 12:57:41
A councilorship candidate of the Peoples Democratic Party in Shawo South West ward in Offa Local Government of Kwara State, Mr. Afolabi Olawole has rejected victory at the election. He was declared winner of the ward election by the Kwara State Independent Electoral Commission(KWASIEC) in  Saturday’s rerun election. He stated that he did not win in the election. According to him, the candidate of the All Progressives Congress, Mr. Adefioye Kayode won the election.

He spoke during APC’s media briefing in Offa on Wednesday. He stated that he rejected his announced victory based on his religious belief of not cheating. He added that his stand was also to ensure that his community did not witness violence and retrogression. He stated that he was not influenced by anybody. Also one of the presiding officers, Oyetunji Akin  said the APC won in  the councillorship and chairmanship elections in Shaw Central ward where he presided.

KWASIEC had announced that PDP won the ward. According to him, APC polled 1,213 to defeat PDP he said had 568.

http://mobile.punchng.com/output.php?link=http://www.punchng.com/news/pdp-candidate-rejects-offa-rerun-victory-against-kwasiecs-announcement/

Wily1Wily: You are a real Yoruba Christian, you have been made the more you look the less you see by Moslems, i'm not surprise that u loved Abacha with all your life, keep it up. Yoruba moslems are only pretending to love Yoruba Christian, they used that method of love to dislodge Yoruba Christian and turn them to confused people.

let ♍ƺ just leave U̶̲̥̅̊ with Ūя̲̅ nonsense. U̶̲̥̅̊ are living in the dark. The majority will decide if GEJ will be reelected. I wish him good luck.

Wily1Wily: He don't need to know if i exist, but trying to pull him down because he is Ijaw is not the best way, Yoruba Moslems and Co-North leaders are not better than Jonathan. Check 50yrs of Nigeria history and tell me why Nigeria economy is like this today, Jonathan did not ruin this country in 3yrs, Northern Moslems with the help of Yoruba Moslems Ruin this Country.

U̶̲̥̅̊ are one of the people that are creating problem for GEJ. I don't see senses in every of Ūя̲̅ post. IF U̶̲̥̅̊ tink U̶̲̥̅̊ can use religion to divide us in the WEst, then U̶̲̥̅̊ are making a very big mistake. Both the yoruba xtian and the moslem love each. We also love those that love us. For ur information I'm a xtian, I hate GEJ, I will never vote for him again and in fact I have already campaigning again him. Infact I want him to be impeachrd b4 2015. And do U̶̲̥̅̊ why? All his policies is agaist the Yoruba people. I voted for him in 2015 and I will never vote for him again.

Examining Lagos State GDP figures
April 22, 2013 | Filed under: Analysis | Posted by: Editor
  

While Nigerians await the state-by-state breakdown of the country’s Gross Domestic Product (GDP) figures by the National Bureau of Statistics (NBS), it is great to see that the Lagos State government has gone ahead to calculate its own estimated GDP. The move by the state is not surprising considering it has been in the forefront of economic development in the country. The state currently has one of the best and most complete economic statistics in the country.

The state’s GDP figures released in September 2012 provide some interesting insights into the Lagos economy. The state has a GDP figure put in excess of N12 trillion or $81 billion as of 2010. Its economic size is about 35.6 percent of Nigeria’s 2010 GDP but a significant 62.3 percent of Nigeria’s non-oil GDP.

However, on the African continent, Lagos State GDP figures rank fourth below Cairo ($145 billion), Johannesburg ($110 billion), and Cape Town ($103 billion). The figures show that the Lagos State GDP is higher than 14 of the 51 states in the United States of America. It is also estimated to be bigger than the GDPs of 22 of the 27 states in Brazil, and higher than 42 individual states in Africa, including Kenya with a GDP of $66 billion, Ghana with a GDP of $61.97 billion, and Tanzania with a GDP of $58.44 billion.

Seven different sectors dominate economic activities in Lagos State, led by manufacturing which, interestingly, contributes 29.60 percent of the state’s GDP figures. Road transport follows closely contributing an average of 26.47 percent of economic activities in the state. Other sectors in order of dominance include building and construction (19.60 percent); wholesale and retail (8.39 percent); telecommunications (3.71 percent); financial institutions (3.51 percent); and real estate (2.01 percent). The seven sectors account for 93.39 percent of economic activities in the state.

The Lagos State Bureau of Statistics also breaks down the state’s GDP based on sectors. Livestock is the biggest economic activity in the agricultural sector. This is closely followed by forestry, and then fisheries which is about half the size of the livestock sector. Crop production is almost insignificant in the agricultural sector, contributing just 0.004 percent of economic activities.

Road transport is the giant in the room in the transportation sector in Lagos State, making up more than 90 percent of economic activities in the sector. The road transport sector is only slightly smaller than manufacturing. Manufacturing and road transport activities actually make up an average 56 percent of all economic activities taking place in Lagos. This explains the Lagos State government’s emphasis on road transport infrastructure within the state as both sectors actually feed on each other. The roads need manufacturing goods and passenger traffic while manufacturing needs the roads to move goods from production centres to the market.

The financial services sector of the Lagos State economy is dominated by financial institutions, with the insurance sector almost a negligible player in the sector. Insurance sector’s contribution to economic activities in Lagos State stands at just 0.30 percent compared to 3.51 percent by financial institutions. In the communications sector, telecommunications dominates, with broadcasting and postal services making marginal contribution (0.03 percent).

Under utilities, electricity dominates, but it contributes just an insignificant 0.47 percent of economic activities in Lagos State, a reflection of the challenges faced in the sector in the country. The contribution by the water sector is even more insignificant at just 0.03 percent. In a more ideal situation, these two sectors would be ranking among the highest contributors to economic activities because they are essential to modern living. Unfortunately, this is not the case here. The negligible contribution of these sectors hides the strong growth potential of the Lagos State economy if both sectors are repositioned to play their proper role in economic activities.

Currently, the NBS is compiling GDP figures for about six states of the federation. Ahead of the release of these figures, which was expected in March 2013, BusinessDay research will soon be releasing its report on the states of the Nigerian federation. The report is an in-depth analysis of the macroeconomic environment and fiscal plans of Nigeria’s 36 states and Abuja. It shows what the states are going to spend and how they are going to spend it. It is also a deep analysis of the financial profile of each state, showing internal revenue projections and history, debt overhang, projections and sustainability, projected expenditure-to-consumption ratios, and major projects in each state.

Due to non-availability of the GDP figures for the 36 states and Abuja, BusinessDay Research will be using NBS figures on consumption patterns in the states as a proxy for GDP figures. The report is an invaluable guide to anyone seeking to do business with or in the states and also to state governments wanting to know how their expenditure plans and macroeconomic environment compare competitively with other states and to the needs of the states.

Note: If you want analysis or data on any company or any particular sector of the Nigerian economy or industry or have any other queries that BusinessDay Research Unit can help you with, kindly send a mail to research@businessdayonline.com or call 08185193932. We can also help you with your confidential market surveys and competition analysis at a cost. 
 
http://businessdayonline.com/2013/04/examining-lagos-state-gdp-figures/

I just laugh reading some pple post on this nairaland. Some pple have brain but they can not reason. I'm now seeing reasons why nigerian graduates are not employable. If the young ones can not put their brain to work I'm wondering what the future hold for this country. All What is happening on nairaland have shown that nairaland maybe one of the tools the western world are using to disintegrate the country. 2015 will be very interesting. I can't wait to see what would happen. Some Pple will be disappointed.

In 2011, the majority of nigerians voted massively for a president. They knew why voted for him. And if the same president would be re-elected, it should be by the same majority and not by any section of the country. If part of those that voted for him in 2011 chose not to for in 2015, so be it. I tink they knw the reason why they don't want to vote for him again. "The reason" is what the president should find out and try to fill the space intead of palying politics that will not favour him.

theoctopus: The south west has at least 40% non Yorubas. Lagos has more than 60% non Yorubas. Even among the Yorubas, APC only has at most 60% votes. Ondo is not APC. So your analysis is funny. GEJ will still win most of the south west come 2015 easily

U̶̲̥̅̊ are deceiving urself.

Dike Chimezie: Good riddance too bad rubbish.
D question now is do GEJ need this prodigals to triumph in 2015?No is my answer.
What GEJ need is 'we' that voted him b4 and that shall vote him again.
GEJ all d way.
In GEJ word, no shaking.

If U̶̲̥̅̊ minus SW vote from the total vote of GEj U̶̲̥̅̊ knw what that means

PDP is gone! 2015 will be so interesting. I can't wait to watch this game. GEJ should have learn from OBJ. Nigerians need a national president and not ethical president.

Eko Atlantic City: Turning adversity into prosperity

April 12, 2013 | Filed under: Analysis | Posted by: Editor
  The story of the Eko Atlantic City is that of the unending efforts of man to turn natural adversity into prosperity. In 2003, erosion ravaged a good part of Victoria Island, with a very serious threat to Ahmadu Bello Way, whose border had partially collapsed into the sea.

Concerned about this development, the state governor at the time, Bola Ahmed Tinubu, sought the help of experts with a view to stemming the tide of erosion which was threatening to swallow up the whole of Victoria Island. It was in the course of the study of the problem that it was revealed that if a wall was constructed on the original coastline, it would effectively check the course of the erosion. That is the origin of the Eko Atlantic City project.

When completed, the new city would be home to 250,000 people and a workplace of 150,000 others as it is planned as a mix of business and residential developments. The city is to have different districts with different offerings. It is being conceived and developed to be better than Manhattan in New York City and Dubai in United Arab Emirate. The project represents a peep into the future of Lagos as it offers a world-class infrastructure to facilitate the development of a new African city. With Lagos’ growing population and its attendant implications, Eko Atlantic City will help in no small way to widen the options available for socio-economic interaction in the state. In essence, part of the objective for bringing the city on board is to relieve the pressure on the ever-enlarging population of the state. The 10 square kilometre city will have waterfront areas, tree-lined streets, efficient transport systems and mixed-use plots that combine residential areas with leisure facilities, offices and shops.

The Eko Atlantic City project is basically a recovery and environmental protection plan whose main goal is to restore land lost to coastal erosion since the late 1950s and to offer a lasting solution to the erosion dilemma by providing a strong seawall or revetment along the newly-reconstructed coastline. Lagos is not alone in this unending struggle between man and the forces of nature. Similar process has taken place in the Netherlands, large parts of Rio de Janeiro in Brazil, parts of Dublin, Ireland, parts of New Orleans (which is partially built on land that was once swamp), much of the urbanised area adjacent to San Francisco Bay, including most of San Francisco’s waterfront and financial district, Mexico City (which is situated at the former site of Lake Texcoco), large parts of Monaco, 25 percent of Hong Kong Island, Mumbai, India and loads of individual islands, one of which the Burj al Arab Hotel in Dubai lies on.

A remarkable aspect of the Eko Atlantic City project is the Great Wall of Lagos which when completed will be over 8 kilometres long and will be topped by 100,000 five-ton concrete blocks which interlock loosely to form an effective barrier that dispels the force of the waves and provides the primary armoured sea defence. It will rise nine metres above sea level and – from scale drawing at the showroom of Eko Atlantic at the Bar Beach, Victoria Island – will almost encircle the new city. It would be a sight to behold. Presently, the Great Wall has gone past the halfway construction stage at 4.5 kilometres in length and is growing at the rate of about six metres a day. Former US President Bill Clinton said of the wall: “I am convinced that within five years, people will be coming from all over the world to see this wall.”

One is, indeed, delighted by the prospect of this new city that is expected to accommodate 250,000 people, generate employment opportunities for over 50,000 people, with approximately 150,000 people commuting daily into the city to work and do business. The recent dedication of the 5,000,000 square metres reclaimed land for the development of the city reflects the determination of the state government and its other promoters to make the project a reality. One aspect of the project that is particularly fascinating is its tourism potentials, which when completed, would serve as an additional support to drive the nation’s tourism sector. The city, when completed, will become first choice for financiers and vacationers all over the world. It presents its occupants with world-class facilities and infrastructure, making working and living a pleasure as it is expected to generate its power as well as source for its water.

Coming at a time when our dear country is being likened to a failed state in some circles, the project is an affirmation of the fact that Nigeria is capable of accomplishing greater feats despite its numerous challenges. This project is one of the good news that we will continue to talk about in this country for a long time to come. On completion, the city would not only create a tourist delight for people all over the world, but would contribute to the development of Nigeria’s economy in no small measure considering its window of enormous opportunities.

The Lagos State government and its partners on the project should be commended for keeping faith with their commitment towards the project. One is particularly impressed by the presence of President Jonathan, Bill Clinton and other high calibre individuals at the recent dedication of the project as it represents the power of common commitment to the survival of human race. It is only in putting up such common fronts that we can successfully confront nature and its challenges across the world.

Aside from being an audacious engineering and architectural statement, the city symbolises the enduring spirit of man to conquer nature. This is because the ability of human civilisation to survive and prosper on the planet has been a story of constant battle against nature. The symbols of that triumph are many across the world. The airplane is one of them. The Panama Canal is yet another. The European tunnel is another. The pyramid of Egypt remains an intriguing model of global edifice that stands as a brand testimony of the indefatigable depth of human capacity for survival.

I, therefore, urge relevant stakeholders to join hands with the state government and its partners in the realisation of this laudable project, for, as Bill Clinton said during the rededication of the project: “No one in the world is powerful enough. No one in the world is wealthy enough to solve the world’s problem.

Dike Chimezie: Is my wish to see Imo,Enugu and co(All Igbo states) blossom like Lagos but not to d detriment of d latter.I was born in Lagos and to d best of my knowledge,the Yoruba man is accomodative.

God bless you.

The Dangote Group has said it will sign $5.55bn loan deals with financiers on September 4 for the building of a $9bn refinery and petrochemical complex to be located at the Olokola Free Trade Zone, Ondo State.

The group told Reuters on Tuesday it would borrow $3.3bn for the 400,000 barrels a day refinery expected to double the country's refining capacity by late 2016.

The conglomerate, with business interests in cement, food processing and oil and gas, also said it was seeking another $2.25bn from development funds for the refinery.

When put together, about $5.55bn will be sourced externally from financiers and the group said the loan deals would be signed with the financiers on September 4.

The Chairman, Dangote Group, Alhaji Aliko Dangote, who recently emerged as Africa's richest man, said he would put $3.5bn down as his own equity.

Dangote had in April said he would put down $4bn of his personal fortune to build the refinery, while international financial institutions would raise the balance.

The Dangote Group spokesman, Mr. Anthony Chiejina, who spoke with Reuters, said, "We are not resting on our oars. The complex, including petrochemical and fertiliser plants, could be the single largest contribution to this government's economic transformation agenda."

The 400,000-barrel capacity, experts have said, would almost double Nigeria's current refining strength.

"This will really help not only Nigeria but sub-Saharan Africa. There has not been a new refinery for a long time in sub-Saharan Africa," Dangote had told Reuters in a telephone interview.

Nigeria currently has the capacity to produce some 445,000 barrels per day from four refineries, which operate well below that owing to decades of mismanagement and corruption.

The country relies on subsidised imports for 80 per cent of its fuel needs.

Dangote said the country's ability to import fuel would soon be challenged.

"In five years, when our population is over 200 million, we won't have the infrastructure to receive the amount of fuel we use. It has to be done," he said.

Past efforts to build refineries have often been delayed or cancelled, but analysts have said Dangote should be able to build a profitable Nigerian refinery, owing to his past successes in industry and his strong government connections.

Analysts have said previous attempts to get the refineries going were held back by vested interests such as fuel importers profiting from the status quo.

"The people who were supposed to invest in refineries, who understand the market, are benefiting from there being no refineries because of the fuel import business. Some are going to try to interfere," Dangote said.

He said making a new refinery run at a profit would work even if the government failed to scrap the subsidised fuel price that has deterred others from investing.

Source: the punch. http:///4F15DrkZLw

bootlegaz: I thought scientists prediction was, in 2050 every one in Lagos will go back to their village including those from Ekiti forest claiming Lagosians? Lagos is sinking, third mainland bridge is decapitating and Abuja is expanding.

just listen to urself. I'm wondering the kind of person U̶̲̥̅̊ are. U̶̲̥̅̊ are really a degrace to Ūя̲̅ parents that sent U̶̲̥̅̊ to school. Ūя̲̅ wish can never come to pass. If Ūя̲̅ wish come to pass, it will affet Ūя̲̅ generations to come. Fool

APC Considers Zoning Vice Presidency to S’East

27 Aug 2013
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Onyebuchi Ezigbo in Abuja

As the All Progressives Congress (APC) continues to tinker with a strategy to gain nationwide acceptance and triumph over the ruling Peoples Democratic Party (PDP) in the 2015 general election, the party may have decided to zone the vice presidency to the South-east geopolitical zone, THISDAY has learnt.

Sources within the APC leadership informed THISDAY that contrary to the widespread belief that it would zone the number two slot to the South-west, its target is the South-east, in order to break the stranglehold the PDP has in the region as well as the South-south zone.

They said the South-east is critical to the party as it moves to gain nationwide spread and acceptability in the key geopolitical zones in the country.

One party official explained that APC would rather zero in on the South-east for the vice presidency because it is confident that it already has the South-west and North-west, the zones that account for the largest number of registered voters, in the kitty.

“Our strategy is to pair a northern Moslem candidate with a Christian running mate from the South-east, as this will enable us capture votes from the north, South-east and parts of the South-south, which also boasts Igbo-speaking indigenes.

“By zoning the vice presidency to the south east, we would also be helping our brothers across the Niger (South-easterners) actualise their quest for the presidency, as the vice-president is just a heart beat away from the president.

“Under the current zoning arrangement that the PDP is offering the South-east, people from the zone would have a slimmer chance of capturing the presidency in the foreseeable future.

“But with the vice presidency in their grasp, their dream will be easier to attain,” the APC official explained.
Other APC sources also confided in THISDAY that President Goodluck Jonathan and PDP might have got wind of the APC’s zoning formula and moved to scuttle it by putting pressure on the All Progressive Grand Alliance (APGA) to disqualify a former Central Bank of Nigeria (CBN) Governor, Prof. Chukwuma Soludo, from contesting for APGA’s governorship ticket for the Anambra election.

“Had Prof. Soludo secured the APGA ticket, contested the governorship election and won, it would have been difficult for the PDP to convince him to return to its fold, given the way it has treated him.

“He would have been riped for the picking by APC and would have been a formidable combination with whomever he is paired with.
“Soludo’s emergence posed a serious threat to PDP, as he is popular, cerebral and would have galvanised the South-east votes for APC. That is why he was blocked,” revealed one source.

lincolnj88: This strike is turning political....all they want is thier earned allowance nothing more...dis man is just speaking out of selfishness....just stop deceiving urself

won't you rather support them even though they are fighting for there pocket? Or untill U̶̲̥̅̊ don't have lecturers left in public university b4 U̶̲̥̅̊ will knw that what they're fighting for is right. All the lecturers in public university are moving to private universities that pay well.

Lagos Taskforce Impounds Police Bullion Van  
Published on August 20, 2013 by   ·   No Comments
The bullion van driven by the errant driver


Kazeem Ugbodaga
Officials of the Lagos State Taskforce on Environmental and Special Offences (Enforcement) Unit have impounded a police bullion van, loaded with money, for driving against the flow of traffic on Agidingbi Road, Ikeja in Lagos, Southwest Nigeria.
The bullion van with registration number PF 4582 SPY was impounded around 12.00 noon on Tuesday, according to Taskforce Chairman, Bayo Sulaiman, also a Chief Superintendent of Police, CSP.
The bullion van and the driver were taken to the taskforce office in Alausa, while the driver would be arraigned in court for violating the Lagos Road Traffic Law 2012.
Under the law, the bullion van will be forfeited to the government while the driver will be made to pay N20,000 fine being a first time offender.

The bullion van driven by the errant driver
Sulaiman said the the police officer escorting the bullion van was also arrested, adding that the taskforce was on a routine patrol of Agidingbi and other areas in Ikeja.
“While coming through ACME at about 12noon, we saw the driver, driving the bullion van against the traffic. He had no reason to have done that because the road was free. So, we tried to stop him but he sped away. We chased him for several minutes, and succeeded in blocking his course.
“He attempted to hit me and some of my men but we were at last able to arrest him and the police escort, while we seized the bullion van with the cash and moved it to our premises in Alausa,” he explained.
According to him, the driver, who was moving cash from an undisclosed bank at the time of his arrest had been charged to court while the officer had been handed over to police authorities for disciplinary actions.
Sulaiman lamented that several bullion vans had been violating traffic laws with impunity, saying that government would ensure that they go after such and punish them according to the law.
“The fact that police are involved in the movement of cash did not exempt them from the law. Erring drivers would be made to face the wrath of the law. Security personnel, especially those escorting bullion vans must not disregard the state`s Traffic. The law is no respecter of anybody
“Police officers are not above the law. Remember what happened recently, the case of a police vehicle which drove against the traffic to injure and kill somebody; the law took its course,” he stated.

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Posted by pmn. http:///UKnLSyuZTf

L̃̾☺=D=))oo☺ooL̃̾ . Nairalanders no go kill ♍ƺ ȍ. Abeg U̶̲̥̅̊ guys should leave this woman alone ȍ. Na her time

I don't if you read the story.the project is being financed by private investor from malaysia

FreeGlobe: Even though I must admit Amosun is likely the best performing governor in the southwest nay ACN governors but this is an elephant and wasteful project

The state government demolished its old secretariat for the project.
The Ogun State Government on Friday completed the demolition of its old Secretariat at Oke-Ilewo in Abeokuta.
Mohammed Affez, Lead Urban Designer and Project Director of Abeokuta City Centre, told newsmen in Abeokuta that it was demolished to give way for new Abeokuta City Centre project.
Mr. Affez said the master plan of the project was being finalised and would include a 60-storey skyscraper hoped to be the tallest in Africa.
He said the project would be handled and financed by Urbanisima Ltd., a Malaysian company.
“There would be adjoining structures which would redefine the landscape of the capital city.
“Others are shopping mall, recreation centre, signature tower, office complex, hotels and world class convention centre.”
The demolition is being carried out by China Civil Engineering Construction Corporation (CCEC).
The state’s Technical Committee on the project recently visited Malaysia for a week-long training on the design of its master plan.
The project was initiated in 2009 by former Governor Gbenga Daniel administration when he relocated Ministries, Departments and Agencies to the new Secretariat at Oke-Mosan in Abeokuta. http://premiumtimesng.com/regional/142925-ogun-plans-60-storey-building-in-abeokuta.html

Don't be deceive!

publisher: APC has truly embarked on 'pure filght of fancy' an ugly mix of self-righteous politicians. Quote me,in the final hours their egos will get the better part of them.

As it stands,PDP is still Nigeria's strongest party,the so-called numerical North has been proven to be a silly myth imposed on the rest of us. How else did GEJ win the 2011 elections,if the 'North' was soo powerful?

The middle-belt holds the key and right now they are largely PDP. SS, SE will always go PDPs way-APGA is a PDP ally.

SW will always deliver the required percentage of votes needed for PDP to meet its two-third quota in presidential elections.

As for the NE, all GEJ needs to do is kill Boko Haram's Shekau btw now and early 2015,the region will eat off the palms of his hand. 'Civilian JTF' will ensure execution.

The odds favour PDP here...these are my honest observations.

APC is just a tool created to consolidate Tinubu's influence in national politics-not necessarily to grab Aso rock. Buhari knows this already but what are his options? He has already failed several times on his own.

Yorubas have no real interest in occupying the presidency for now.

You all should watch and see what happens.

newton eni: Wole soyinka should pls shut his dirty mouth you have no morale justification to critisize even the lest councillor in this project called NIGERIA. why are we celebrating this satanic icon. The last time i checked on him he is the G.O and Founder of SEA PIRATE a deadly cult group which gave birth to all other cult groups in the country. the Cidi llyord is a sea pirate he should call him to order pls. Prof OLE thief soyinka should emulate men like Prophet TB JOSHUA, Bishop D. oyedepo, Pastor E. Adeboye who are touching humanity positively instead of critisizing every Govt. on board... or you can go and after all you are old FooooL

humm

#RiversStateMadness: GEJ that did not fight to get power is now fighting to retain it.