₦airaland Forum

CSTR2:
hahaha.
Nigeria losing international support even before the real struggle begins.
oh boy.

Buhari need to be very careful before he becomes a war criminal.

Truth be told.

chino11:
Work is ongoing at the Onitsha 2nd Niger bridge..

Thanks for the confirmation. Over to u lalasticlala, oam4j, afam4eva fp.

Can anybody verify on going work on site for the Second Niger Bridge? U cannot trust these tabloid newspapars.


chino, agbaworo, asha and buddahmonk over to you.

http://www.thisdaylive.com/articles/nsia-affirms-commitment-to-second-niger-bridge-project/219582/

07 Sep 2015
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Chika Amanze-Nwachuku

The Nigeria Sovereign Investment Authority (NSIA) has restated its commitment to the Second Niger Bridge project, assuring that barring unforeseen problems the bridge would be constructed and delivered in 48 months.

The agency also said only $2.21million has so far been expended on consultancy for the project as against the N140 billion declared by Governor Adams Oshiomhole of Edo state. Oshiomhole had alleged that the NSIA had spent about N140billion on consultancy. He also claimed that $700 million was surreptitiously moved from the Sovereign Wealth Fund (SWF), for the second Niger bridge project.

Former President Goodluck Jonathan, last year performed the groundbreaking ceremony for the construction of the bridge, with the construction billed to be completed in 48 months.

The 11.9km length bridge was structured under the Public Private Partnership (PPP) arrangement, using Design, Build, Finance, Operate and Transfer (DBFOT) model.

Acting through its wholly owned subsidiary, NSIA Motorways Investment Company (NMIC), the NSIA is collaborating with the Federal Ministry of Works and Julius Berger Investment (JBI) as joint sponsors on the financing, development and construction of the bridge.

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 $700million at the then prevailing exchange rate of N154/$. The final project cost would naturally be affected by exchange rate fluctuations and other variables.

Providing an update on the project, Managing Director and CEO of NSIA, Mr. Uche Orji, explained that $247,586, about N49 million has been spent on the due diligence phase of the project while $1.96 million, about N3.9 billion has been spent on the project development phase as consultancy services fees. These services, he noted, included work in legal, financial, technical and engineering and environmental social impact advisory, provided by various credible and well-recognised Nigerian and international professional services firms.

Orji said: “To date, NSIA has spent a total of US$2.21 million 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.”

According to Orji, Africa Finance Corporation (Nigeria) was engaged as financial advisor; Clifford Chance, UK and Templars (Nigeria) as legal advisors; Allot Nigeria Ltd and Takedo International, UK as traffic advisors; WSP Group Africa, (South Africa) as technical advisor and Aurecon (South Africa) as Environmental consultant.

He explained that total consultancy services cost so far is less than one per cent of the estimated project cost. He said: “Whilst there is no standardised 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 per cent 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.”

Under the PPP arrangement for the project, the federal government made a N30 billion commitment to the project while the consortium is expected to raise the remaining funds for the project from Nigerian and international lenders and equity providers. Orji confirmed that the government has so far released N18billion of which N10 billion has been disbursed for early construction works.

The agency’s technical consultants on the project, according to Orji, have been instrumental in value-engineering the project and reducing the initial project cost to the current level.

“NSIA has put in place a multi-stage approval process for all disbursements, and which all payments involving construction are made only after approval by a third party engineering firm, which matches work completed against amounts due.


“NSIA has had promising engagement with potential lenders, which include many international investors. NSIA is rated by the US-based Sovereign Wealth Fund Institute as one of the most transparent sovereign wealth funds in the world. NSIA continues to uphold and abide by the highest standards of corporate governance, accountability and integrity.

The NSIA was rated by the US-based Sovereign Wealth Fund institute as one of the most transparent sovereign wealth funds in the world.

Very funny

interesting.

http://www.punchng.com/news/i-raped-my-daughter-only-six-times-factory-worker/ lalasticlala

On Wednesday, 34-year-old factory worker, Mohammed Ahmed confessed that he has raped his daughter ONLY 6 times. (Only??)
Ahmed, who was paraded by officials of the Osun State Command of Nigeria Security and Civil Defence Corps said he started having sex with his 14-year-old daughter in April, 2015.

Ahmed said:
“I have two wives. The first had left and she gave birth to three children. The second wife gave birth to two children before she died.
“This one is the first child of my first wife. I don’t know what came over me in April when I started having sex with my daughter. I had sex with her only six times since April 2015.”
The Head, Public Relations and Protocol Unit of the NSCDC, Mr. Wale Folarin, said the command was alerted to the man’s act by one of his neighbours.
Folarin said:
“The incident was reported to us by a neighbour, who said he used to hear the cry of the girl every night. When confronted, the girl admitted that her father had been raping her.”

Buhari will destroy nigeria, am convinced.

Buhari will destroy nigeria, am convinced.

^I dont know why he will post such false pics rather than actual state of things.

All the Buhari idol worshipers. Buhari integrity masturbaters. U have killed Nigeria finally.

jega&buhari.

New International Version Hosea 8:4
They set up kings without my consent; they choose princes without my approval. With their silver and gold they make idols for themselves to their own destruction.

Onyejiuwaokoh:
North did not only vote against Jonathan in 2011 election but went extra mile to kill more than a thousand souls, that did not not stop GEJ from giving them 100% care , appointment and recognition. With all the noise from the he goat (Rochas) i don't know why the Imo youth has not terminated him.

Buhari is just a biggot. No further explanation for this total disregard to decorum from the Chief Diplomat and Peace maker called President.

lalasticlala seun fp

Murray is a politicians looking for Baba Favour. Baba will soon bless the pikin.

https://www.thecable.ng/say-buharis-appointments-lopsided


Another appointment, another objection. Since President Muhammadu Buhari started making appointments after his inauguration, there have been complaints from several parts of Nigeria that he is not respecting the principle of federal character. The appointment of Ahmed Lawal Kuru to replace Mustafa Chike-Obi as the MD/CEO of the Asset Management Company of Nigeria (AMCON) on Tuesday has sent tongues wagging again.

Although most of the objections appear to be coming from the south-east and south-south, some voices from the south-west and north-central are also getting louder against what they view as heavily tilted appointments in favour of the core north, where the president hails from. They argue that in the interest of national unity and cohesion, Buhari should make a deliberate attempt to balance the appointments.

However, that is just one side of the argument. There are also commentators who insist that merit should come before federal character and Buhari should only be criticised if he is appointing people who are not qualified to hold those positions. Yet some argue that it is too early in the day to judge Buhari, as there are still hundreds of appointments to be made.

What do you think? Kindly drop us a vote and a line…. lalasticlala

Thank you GEJ for investing in Electricity and Building new Power Plants.


God Bless you sir. http://www.pdpintegrityvanguard.org/

Appointment have to reflect a national character. This is not a Daura State.

Tinubu is in charge. Buhari will deliver. lalasticlala

https://www.thecable.ng/say-buharis-appointments-lopsided


Another appointment, another objection. Since President Muhammadu Buhari started making appointments after his inauguration, there have been complaints from several parts of Nigeria that he is not respecting the principle of federal character. The appointment of Ahmed Lawal Kuru to replace Mustafa Chike-Obi as the MD/CEO of the Asset Management Company of Nigeria (AMCON) on Tuesday has sent tongues wagging again.

Although most of the objections appear to be coming from the south-east and south-south, some voices from the south-west and north-central are also getting louder against what they view as heavily tilted appointments in favour of the core north, where the president hails from. They argue that in the interest of national unity and cohesion, Buhari should make a deliberate attempt to balance the appointments.

However, that is just one side of the argument. There are also commentators who insist that merit should come before federal character and Buhari should only be criticised if he is appointing people who are not qualified to hold those positions. Yet some argue that it is too early in the day to judge Buhari, as there are still hundreds of appointments to be made.

What do you think? Kindly drop us a vote and a line….

owobokiri:
He romatices the status of the Sarduana of Sokoto a lot. That will make him a local king up north but will instigate dire effects down south. . To his defence though, he was ready to walk back to the desert with his marauding horde of tribal supporters if he didn't win the last elections untill Tinubu in his sophisticated idiocy lured him back into mainstream politics with all types of entincing placations. . Why won't he feel like he owns this Aeragen thereafter?

I am inclined to agree with the bolded as much as u recognise Tinubu as the King maker.

Buhari this, Buhari dat... Wat exactly is the problem becos all I see is Oduduwa wining the day. 234!

Nigeria which way?

Buhari should just declare asset, let these pdp rest.

How do we pacify these igbos again? I don tire, any suggestion?


Tinubu should head ohaneze!

Tinubu would have performed better.

Seun Osewa who God has blessed no man can curse. Let this be a lesson to you and other tribal jingoist about hating any person or group. You do a disservice to yourself and company. U banned dontjealousme1 for five years becos of Mikel support and criticism against nairaland witch hunt against Mikel last year, but look at this topic on your FP today.


I feel vindicated. I was right and you as usual was wrong.

Gowon again?