₦airaland Forum

Look at the power configuration in Nigeria today; there are three arms of government: The executive, the legislature and the judiciary. The executive is headed by Buhari who is a northerner; the two arms of the legislature which are the Senate and the House of Representatives, are headed by northerners: Bukola Saraki and Yakubu Dogara respectively. The Chief Justice, Mahmoud Mohammed, who heads the judiciary, is also a northerner. So, the entire government is completely in the hands of the northerners.

Axeurdaddy:
......Here's to all those who think GMB is a Boko Haram sympathiser.



Y'ALL BLOODY NITWITS

Dogara had solicited for Israal`s support to Nigeria to help end Boko Haram and other security challenges, in addition to attracting investments in agriculture, solid minerals, energy and tourism.

August 24, 2015
THE SECOND NIGER BRIDGE PROJECT UPDATE
The Nigeria Sovereign Investment Authority (NSIA) through its Nigeria Infrastructure Fund is
committed to the development of infrastructure in Nigeria. Acting through its wholly owned subsidiary, NSIA Motorways Investment Company (NMIC), NSIA is collaborating with the Federal Ministry of Works and Julius Berger Investments (JBI) as joint sponsors on the financing, development and construction of the Second Niger Bridge project (the “Project”).
KEY HIGHLIGHTS
o The Second Niger Bridge and adjacent roads will be 11.9km in length.
o The project is structured as a Public Private Partnership (PPP) and will be constructed and operated on a Design, Build, Finance, Operate and Transfer (DBFOT) basis.
o It is expected that the Bridge would be constructed and delivered in 48 months. When completed, the Bridge and adjacent roads will have six (6) lanes with three (3) in each direction.
o The Project was initially estimated to cost N108billion excluding duties and VAT, (if duties and VAT are included, the Project cost is N117.9billion). This was equivalent to US$700million at the then prevailing exchange rate of N154/$. The final project cost would naturally be affected by exchange rate fluctuations and other variables.
o The Federal Government of Nigeria (FGN) made a N30billion commitment to the Project. The consortium would raise the remaining funds for the project from Nigerian and international lenders and equity providers.
o The Federal Government has released N18.3billion so far of which N10.4billion has been disbursed on early construction works.
NSIA’S CONTRIBUTION
o [size=15pt]NSIA assembled a team of Nigerian and international advisers with proven capabilities and global experience in PPP infrastructure projects to ensure the Project get first- class advisory services. These consultants were engaged through a rigorous and competitive procurement process.[/size]
o To date, NSIA has spent a total of US$2.21million on consultancy services on the two phases of the Project – US$247,586 on the due diligence phase; and US$1.96million on the project development phase. These services have included work in the following areas: Legal, Financial, Technical & Engineering and Environmental & Social Impact Advisory, provided by various credible and well-recognised Nigerian and international professional services firms.
o Total consultancy services cost so far is less than one percent of the estimated project cost. Whilst there is no standardized benchmark for transaction costs, the European Investment Bank’s Economic and Financial Report No. 3 of 2005, indicates that, on the average, the level of transaction cost for the procurement phase of PPP projects is over 10 percent of the capital value of the relevant project in Ireland, the Netherlands, Portugal, and the United Kingdom. This EIB survey estimate does not include costs related to contract monitoring and renegotiation in the operational phase of the relevant projects.
o NSIA’s technical consultants on this Project have been instrumental in value- engineering the Project and reducing the initial project cost to the current level.
o NSIA has put in place a multi-stage approval process for all disbursements, under which all payments involving construction are made only after approval by a third- party engineering firm, which matches work completed against amounts due.
o NSIA has had promising engagement with potential lenders, which include many international investors.
o NSIA is rated by the US-based Sovereign Wealth Fund Institute as one of the most transparent sovereign wealth funds in the world.
o NSIA continues to uphold and abide by the highest standards of corporate governance, accountability and integrity. In this regard, NSIA’s accounts are audited by PricewaterhouseCoopers (PwC) and made publicly available within the first 90 days of the new calendar year. The 2013 and 2014 Annual Reports are available on NSIA’s website, www.nsia.com.ng.
o Attached is the table indicating the list of consultants engaged so far for the assignment.

About NSIA
The Nigeria Sovereign Investment Authority (NSIA) was established in 2011 under an Act of the National Assembly, the Nigeria Sovereign Investment Authority Act. The objective of the NSIA is to promote fiscal stability, build a savings base for future generations of Nigerians and enhance the development of Nigeria’s infrastructure. The NSIA’s investments are made through three distinct funds: the Stabilization Fund, the Future Generations Fund, and finally the Nigeria Infrastructure Fund, through which the NSIA’s investment in the construction and development of the Second Niger Bridge Project is being made. The Nigeria Infrastructure Fund aims to invest in infrastructure projects in Nigeria that contribute to the development of essential infrastructure in Nigeria in addition to meeting the NSIA’s targeted financial returns. For more information, please visit the NSIA’s website at www.nsia.com.ng.
Signed: Management

eliment:
No, na TV station make you give am. Olodo plenty

barcanista:
What about those that can't affo®d it?

barcanista:
@OP: I, Barcanista endorse your proposal. Thank you



Sai PDP

mars123:
Well,we all know the president that let boko haram get to this level.

[size=15pt]Boko Haram: Britain condemns recent attacks[/size]
The United Kingdom has condemned recent attacks by Book Haram insurgents which has led to the death of hundreds of innocent Nigerians.

The British government made the condemnation on Saturday in a statement issued by the Minister for Africa, James Duddridge, insisting that the recent attacks by the Islamist insurgents in the holy month of Ramadan were appalling.

Duddridge said: “I am appalled by the recent attacks in Borno State in which over 100 people have been killed. These attacks deliberately targeted Muslim worshippers during the holy month of Ramadan. My thoughts and sympathies are with the victims and their families.

BREAKING: NFF terminates Keshi’s contract over Ivory Coast application

“These attacks serve as a stark reminder of the threat posed by Boko Haram, which deliberately targets the weak and vulnerable and those, both Muslim and Christian, who will not subscribe to their extremist and intolerant views. The United Kingdom remains firm in our determination to support Nigeria in the fight against terrorism.”