₦airaland Forum

Cornelia Connelly College Afaha Oku wearing a new look after uncommon transformation train paid them a rehabilitation visit.

first of the many footbridges to be constructed in Uyo completed

more of Akwapoly

Akwa Ibom State polytechnic after undergoing Uncommon transformation by governor akpabio

updates on the ongoing Uyo stadium

Good critics like oshimole dont usually make good leaders am not suprised!

Now this is what will bring all the self seeking polithieficians back to PDP after all this is all what politics in Nigeria is about.

I see PDP using this wells to whip erring members and their followers in line, dangling the wells as gift ha, ha, ha.

And don't also forget the refineries that are also up for sale next year. A lot of carrots are being prepped for 2015 elections.

Support jonathan and get a refinery or OML, making them offers that will be difficult to reject! SS have most of the carrots needed to negotiate political patronage/loyalty.

Over the next two weeks, the Department of Petroleum Resources will undertake a road show to different parts of the country about the programme. This will be followed by a three and a half-month of competitive bidding process in line with the Federal Government’s commitment to openness and transparency in the conduct of business activities in the country

• To rehabilitate refineneries ahead of sale

After several years of waiting, the Federal Government has finally flagged off the second oil marginal fields licensing round in the country,under a strategic move to deepen the participation of indigenous oil companies in the upstream sector of the oil and gas industry.
Meanwhile,the government has stated its resolve to embark on rehabilitation of the nation’s four refineries ahead of their sale to private investors.
The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, who declared the bid round open in Abuja, yesterday,affirmed that it would boost the participation of Nigerian indigenous companies in the upstream and thereby increase exploration and production activities in the sector to the benefit of Nigerians and the Nigerian economy.
Giving details of the licensing round, Alison-Madueke stated that a total of 31 fields are on offer with 16 of them located onshore, while the remaining 15 are in the continental shelf.
The Minister,who said the Federal Government is committed to transparency in the bidding process,also encouraged companies indicating interest in the assets to form consortia that would enable them leverage upon each other’s strengths.
“Over the next two weeks, the Department of Petroleum Resources will undertake a road show to different parts of the country about the programme. This will be followed by a three and a half-month of competitive bidding process in line with the Federal Government’s commitment to openness and transparency in the conduct of business activities in the country” Alison-Madueke stated.
Giving an update on the last marginal fields bid round held in 2001, the Minister disclosed that out of the 24 fields that were allocated to 31 indigenous oil companies in that exercise, eight were already producing while the others are at various stages of development.
Alison-Madueke noted that the marginal field operators who currently account for about one per cent of the nation’s production have also recorded huge discoveries in excess of 100 million barrels to the nation’s reserve base, adding that out of the eight assets that have so far been divested by the IOCs, at least four are held by active marginal field operators, who have continued to demonstrate remarkable technical ability in operating significantly larger assets.
“In their operations, the companies have addressed corporate social responsibility as a critical element, by providing for stakeholder participation as part of their success factors.
“In addition, their development strategy is in line with the nation’s gas flare policy and global environmental guidelines on green house emissions, by ensuring full utilization of their associated gas.
“Indeed, one of them has established a modular refinery for diesel production which is the first of its kind in the country” Alison-Madueke stated.
The Minister explained that the Federal Government is encouraged by the modest achievements of the marginal field operators in line with the objectives of the local content policy to kick off this marginal field licensing round.
On the proposed sale of the refineries, Alison-Madueke reiterated government’s stance to move away from managing major infrastructure, adding that government would go ahead with the original plan to rehabilitate the refineries,to get a premium price from their sale.
The Minister maintained that adequate room has been made in the privatization time-table for engagement with all stakeholders to resolve all labour issues to ensure a win-win situation for all.

http://www.ngrguardiannews.com/index.php/business/business-news/139727-govt-kicks-off-marginal-field-licensing-round

agbameta: Then turn around and sell the same power infrastructures to their cronies for 10 kobo each in the name of privatization at the expense of poor Nigerians......


Oponuchukwu kwenu.... smh.

Eko ile,Are you mad because the project is not sited in your state?
At least they are not going to spend N1billion per MW nor are they going to build a 10 MW generator like some gov. and call it an independent power plant, but they are going to build something worthwhile.

VENTURES AFRICA – Nigeria on Wednesday approved a loan of N15.7 billion (about $100 million ) from the Indian Import Export Bank to boost power supply in three of its 36 states. The loan used to finance power infrastructure in Cross Rivers, Enugu and Kaduna states, Dr. Yerima Ngama, the Minister of State for Finance said. "We believe that this facility will go a long way towards transforming our industrial areas and other communities as part of Mr President's commitment to economic transformation agenda.'' According to local reports, Ngama also indicated that $30 million would be allocated to Cross-Rivers state for the development of the Calabar Independent Power Project . Enugu state will get $40 million (about N620 million) for the electrification of 96 communities while $30 million will be given to Kaduna to augment the resources needed for the construction of the 70 Km transmission line from the Gurara Dam to Kaduna industrial area. Part of the fund will be used for the construction of 132 KVA and 33KVA sub-stations for power supply to the Kaduna industrial area as well as the distribution of transformers and other accessories to the 96 communities in the three Senatorial Zones of the state, according to Ngama. He said the facility was taken at 2 percent interest rate to be repaid over a 10-year period with three years moratorium.
http://www.hispanicbusiness.com/2013/11/23/nigeria_to_boost_power_in_3.htm

Home » Sports » Three killed as World Cup stadium collapses

Three killed as World Cup stadium collapses
Three killed as World Cup stadium collapses
Posted by: Adediwura Aderibigbe in Sports 3 hours ago

No fewer than three people have been reported killed after a crane collapsed at the Arena Corinthians in Sao Paulo — the stadium will host the tournament’s first game.
The incident occurred on Thursday, damaging three huge metallic parts of the ground and destroying part of the stadium’s structure.
A construction worker at the site who asked not to be identified told Goal: “I was a little far from the place of the accident, but what I know is that that would’ve been the last piece to be installed in the stadium structure. We were lucky that several workers weren’t there at the moment, because it happened during our lunch break.”
“The structure fell and initiated a cascade effect. We felt a strong tremor and that’s worrisome. It could’ve affected other structures.
“I’m really sad. Some of the Corinthians’ fans are also here, around the stadium, and they are crying with what happened. I’m a Corinthians fan and I know how passionate we are, but the most important thing is the lives of the people.
“I believe we could have more fatal victims in the next hours. What the guys around here are talking is that there are at least four people dead.”
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Update on port harcourt stadium pictures courtesy of Tbite/feel rivers

The crybaby gov. amaechi and his gang of 6 should leave PDP because its too corrupt as they have alleged to any party of their choice so the country can move on.
These rebel govs are not interested in ant peace but to cause as much damage as they can in PDP before they depart.

This are the states that are mortgaging the future of their state with loans.

For Lagos State, the debt to revenue ratio stood at 155.4 per cent, with the annual statutory revenue standing at N125.48bn and a debt profile of N193.44bn.

On a revenue profile of N44.97bn and a debt profile of N35.98bn, Ekiti State’s ratio stood at 80 per cent. Kaduna had a revenue profile of N63.94bn, debt profile of N40.08bn and debt to revenue ratio of 62.68 per cent.

For Cross River State, the ratio stood at 61.44 per cent on a revenue of N56.92bn and a debt of N34.97bn.

The ratios for Edo, Ondo, Bayelsa, Ebonyi and Kwara states stood at 56.03 per cent, 55.12 per cent, 54.5 per cent, 51.85 per cent, and 51.75 per cent, respectively.

Four other states whose debt to revenue ratio exceeded the states’ average of 36.36 per cent are Imo, 49.4 per cent; Ogun, 45.45 per cent; Bauchi, 41.97 per cent; and Osun, 36.52 per cent.

The least indebted states by the debt to revenue ratio include Rivers, 2.02 per cent; Borno, 3.28 per cent; Akwa Ibom, 3.88 per cent; Taraba, 6.79 per cent; Plateau, 8.02 per cent; and Adamawa, 8.72 per cent.

The FRC said the debt profile included external debts; money borrowed from banks and the capital market, but excluded debts owed to contractors, which could not be ascertained.

Lagos, Ekiti, seven others are heavy debtors –FRC

Nine states of the federation are in serious debts judging by their revenue profile, the Fiscal Responsibility Commission has said.

The states are: Lagos, Ekiti, Kaduna, Cross Rivers, Ondo, Edo, Bayelsa, Ebonyi and Kwara.

In its Annual Report and Audited Accounts 2011, which was released in Abuja on Thursday, the FRC listed the nine states as being under the weight of huge debts.

The FRC also raised the alarm that given the rate of growth of the national debt and debt servicing, the nation’s debt was unsustainable except action was taken to reduce the rate of growth or increase the Gross Domestic Product growth rate.

According to the report, the total indebtedness of each of the states as of December 31, 2011 was beyond the limit set by the Debt Management Office.

The DMO had said that states’ indebtedness should never rise more than 50 per cent of their annual revenues in the previous 12 months, while the nation’s total indebtedness should not be more than 40 per cent of the GDP.

For each of the nine states, however, the total indebtedness as of December 31, 2011 was more than 50 per cent of their revenue profile.

For Lagos State, the debt to revenue ratio stood at 155.4 per cent, with the annual statutory revenue standing at N125.48bn and a debt profile of N193.44bn.

On a revenue profile of N44.97bn and a debt profile of N35.98bn, Ekiti State’s ratio stood at 80 per cent. Kaduna had a revenue profile of N63.94bn, debt profile of N40.08bn and debt to revenue ratio of 62.68 per cent.

For Cross River State, the ratio stood at 61.44 per cent on a revenue of N56.92bn and a debt of N34.97bn.

The ratios for Edo, Ondo, Bayelsa, Ebonyi and Kwara states stood at 56.03 per cent, 55.12 per cent, 54.5 per cent, 51.85 per cent, and 51.75 per cent, respectively.

Four other states whose debt to revenue ratio exceeded the states’ average of 36.36 per cent are Imo, 49.4 per cent; Ogun, 45.45 per cent; Bauchi, 41.97 per cent; and Osun, 36.52 per cent.

The least indebted states by the debt to revenue ratio include Rivers, 2.02 per cent; Borno, 3.28 per cent; Akwa Ibom, 3.88 per cent; Taraba, 6.79 per cent; Plateau, 8.02 per cent; and Adamawa, 8.72 per cent.

The FRC said the debt profile included external debts; money borrowed from banks and the capital market, but excluded debts owed to contractors, which could not be ascertained.

The FRC explained, “Only statutory revenue is used in the analysis because the states refused to supply data on their IGR. In any case, the IGR is not more than eight per cent of the states’ total except Lagos, which also refused to furnish its IGR. In essence, the omission of the IGR may not distort the result of the analysis.

“It is also pertinent to observe that the non-inclusion of the outstanding debt owed to contractors and contingent liabilities may more than offset the omission of the IGR.

“The Federal Government owes 111.63 per cent of its statutory revenue. In terms of debt to GDP ratio, the Federal Government debt stock is about 14.5 per cent. The national debt of N8.29tn is, however, about 22.1 per cent of the GDP. This is higher than the publicised figure of 17.5 per cent.

“At present, Nigeria’s GDP is growing at 7.45 per cent. The stock of debt is growing at approximately 23.75 per cent, while debt service is growing at 26.81 per cent.

“In a situation in which the growth rates of debt and debt service outstrip the growth rates of revenue and GDP, it is safe to say that debt is hardly sustainable, unless the rates of growth and GDP are stepped up and the rate of borrowing is reduced or held constant.”

For the Federal Government and its agencies, the statutory revenue stood at N5.54tn; while the debt stock stood at N6.19tn, thereby taking the debt to revenue ratio to 111.63 per cent. The entire country had a debt to revenue ratio of 85.38 per cent as of December 2011.

However, the Commissioner for Finance, Lagos State, Mr. Ayo Gbeleyi, said he was not aware of the FRC report, but noted that the state’s revenue and expenditure profiles were available for free on the government’s official website.

His counterpart in Ekiti State, Mr. Dapo Kolawole, said the claim by the FRC that the state was among the most indebted in the country was false.

Kolawole said, “The information is false and the data is wrong. Ekiti is one of the most efficient states in the country. In terms of financial management, we are very efficient and prudent.

“What I am saying is that it is embarrassing for somebody sitting somewhere in Abuja to tell me that Ekiti is one of the states that over-borrowed without crosschecking. What is the basis of statistics and how much have we borrowed compared with the state’s GDP?”

Similarly, the Ondo State Government said the report did not capture the present state of things in the state.

The Commissioner for Information, Mr. Kayode Akinmade, said things were now different from 2011, the year covered by the report.

He said, “Going by the date of the report, this could not have been the latest status of Ondo State’s debt profile because this was 2011 report.

“However, from time to time, we go to look for finance from the money and capital markets. Every state carries some debt profile, ours is very sustainable, our debt to revenue ratio is below 20 per cent.”

http://www.punchng.com/news/lagos-ekiti-seven-others-are-heavy-debtors-frc/

searay: Being able to read and write doesn't make on literate. Judging from most of the 1st page coments. It's either they did not read the article or they are bunch of illiterate. No apologies.

They are all members Akpabio haters association. It dosent mater what akpabio says as long as its from him its bad. The reason is simple Akpabio developmental strides and support for GEJ is a nightmare for the opposition parties and their supporters.

Its time traitors leave PDP. Akpabio predicted this a while ago that traitors will leave the party. Nice its finally happening

heres the bane of nigeria! everything must boil down to where you are from. we are discussing SK ethnicity instead of his technical coaching abilities and his performance/result as a coach.

Nigeria i hail!

kwame tut: Joburg GDP is about $ 164bn (is gonna be more than this with Waterfall City, Sandton City,Steyn City,Zonk izizwe, then NEW CITY IN MODDERFONTEIN), Kaapstadt/Cape Town $ 103bn, Durbs $23bn etc..but SOUTH AFRICANS WILL NEVER STOOP LOW TO A LEVEL OF SAYING THEIR CITIES GDP'S IS BIGGER THAN MOST AFRICAN COUNTRIES.

Only a Naaigerian DESPARATE MENTALITY can do this.

We are talking about the GDP of lagos State being greater than the GDP of The country of kenya as reported by an internationally renowned magazine The Economist, and you are screaming jo'burg and quoting irrelevant statistics.

The truth is the truth Lagos state GDP trumps Kenya's GDP the earlier you accept that the better for you! keep living in denial and exposing your ignorance in social media for the world to see.

Folks like you give Africans a bad name, learn to read with comprehension.

Why dont we hire a foreigner to run NFF as those folks are incompetent and while we are at it a foreigner should also replace the sport minister.
SK all the way.

All is set for the hosting of Bayelsa State International Jazz Festival as Gloryland is set to host the world between December 3 and December 7 when the Bayelsa International Jazz Festival takes centre stage in the state capital, Yenegoa.


And expected to entertain are South Africa's great, Hugh Masakela, Femi Kuti, American jazz legend, Earl Klugh, Somi, Ego, Gbamgbe Brass Band Cotomou and Naijazz All Stars Band with the likes of Dapo Dina, Imole Africa, Victor Ademofe, Lekan Bablola, Bright Gain and DJ Lami to mention a few.


In a chat with The Entertainer Director General of Bayelsa State Tourism Development Agency, Ebizi Ndiomu Brown, said that on December 3, Bayelsa would play host to the world: "Bayelsa International Jazz Festival 2013 is packaged by the Bayelsa State Tourism Development Agency on behalf of the state government. There is no gainsaying that Jazz music provides the needed ambience for the promotion of sustainable tourism in Bayelsa State. Bayelsa State is ready to host the world.


"The festival will open the doors to tourists and jazz music enthusiasts will savour the beauty and serenity that we enjoy in Bayelsa State. Besides, the Jazz music festival aligns with the cardinal objectives of our amiable governor, Honourable Henry Seriake Dickson, in developing alternative sources of revenue generation in the state."


According to her, master classes and arts journalism classes would also be included as part of the jazz festival. She used the opportunity to call on all multinationals, corporate bodies and individuals to partner the agency in organizing the festival.

http://odili.net/news/source/2013/nov/24/500.html

The froggy gov. babangida Aliu is a bigger traitor to the north than anyone else,of all the money recieved from the federation purse to develope Niger state, What are his achievement?

Enriching himself and his family to the detriment of the good people of Niger state. If the looter of Niger state commonwealth is not a traitor then i don't know who fits that definition.

Viva Niger people and may no good come to those that loot your commonwealth!

The british should show where and any project of that magnitude that the have built anywhere in Africa despite all the resources that they have looted in Africa. After many years of slavery they are mad that China which is a new comer in Africa has done more in less than a decade in Africa than the 1000yrs of the european in Africa! Viva China lol

Bloody good idea,Seconded it should be Lagos stock exchange.

I think that the british press have seen what is in the future of Africa and they are afraid that if most african countries copy the example of Angola that africa will be in the fore front of attaining its goals as an attractive place to live and do business.

And if there is anything that the imperialist are afraid of. It is Africa as and attractive place! they want africa to be and remain a place that must be backwards and feared at all cost, so they can rape the continent and they have done for the past 1000years for its resources.

When i speak of the kind of leadership to drive the big picture agenda for the SE am not refering to political leadership but to business leadership a collective of all the successful and resourceful business men that abound in igboland home and abroad and collapsing individual goals or aligning it with the big picture agenda. This is what will drive this initiative for the benefit of the whole region.
It will be good if the political leadership will follow suit but as a student of history i doubt that this will be the case in the initial stage as the SE states are amongst decentralized states and hence political cohesion will be very difficult to attain here.

But if the people buy into the big picture then politics/ political policies will also follow for politics follow numbers ie game of numbers and numbers reside with the people.because political leadership will come from the people who have imbibed the big picture agenda and hence the policy will align.

Should we be building such in Nigeria? Something tell me that projects like this in Nigeria will be a success what do you think?

mannylife: Docile in the context of asserting our rights and holding our govt accountable, for instance, Anambra as a state doesn't have LGA Chairpersons, rather they have a caretaker committee, how will development take place when you don't even know the govt is supposed to be about you the citizen?Looking at the big picture is one part, however, the govt play an important role in establishing necessary infrastructures that will engage them in looking that part. Per my example, how can you expect them to think of the big picture where Peter Obi is siphoning all the monies meant for the LG into govt coffers and the LG looking awful. Let govt provide the necessary infrastructure, and they will think collectively rather than individually

.

Docility in the context you described is not a problem peculiar to the SE alone but the whole country. Igbos are making money everywhere around the country where the govt. is not providing all those amenities that you mentioned. The question to you is how do they do it? If you can answer that question them i will tell you that they can do same at home even without those infrastructures you mentioned.

The ghost towns of China, Ireland and Spain – full of large empty house estates – may be a phenomenon that is on its way to Africa.Built for people who never move in, they leave those who did with a worthless property they cannot sell. Perched in an isolated spot some 30km (18 miles) outside Angola’s capital, Luanda, Nova Cidade de Kilamba is a brand-new mixed residential development of 750 eight-storey apartment buildings, a dozen schools and more than 100 retail units.

Designed to house up to half a million people when complete, Kilamba has been built by the state-owned China International Trust and Investment Corporation (CITIC) in under three years at a reported cost of $3.5bn (£2.2bn). Spanning 5,000 hectares (12,355 acres), the development is the largest of several new “satellite cities” being constructed by Chinese firms around Angola, and it is believed to be one of the largest new-build projects on the continent.

- See more at: http://www.ugandandiasporanews.com/2012/07/24/bbc-angolas-chinese-built-ghost-town-a-new-phenomenon-in-africa-is-large-empty-housing-estates/#sthash.GUdkbSfl.dpuf

manny4life: Day in day out, we discuss the same issue, the SE cannot develop without a plan. Fact is Igbos in the SE are docile, anyone who fails to plan is likely to fail...

I disagree with you ,Igbos are not docile infact they are the most hard working of all Nigeria Major tribes and the most resourceful too. All it takes is for them to look into a big picture rather than focusing on individual goals.

An average Igbo man wants to make a lot of money in his trade outside of his enclave, Once that is done he wants to go back and contribute his quota in his village by building a big house there which he only uses when he is on vacation during the end of the year.

this they have achieved 100% If you travel to any village in Igbo land as i have contrary to other villages in Nigeria,what you will see are mansions everywhere most with no good access roads.

once the vision shifts to making money at home and plugging into a bigger vision of contributing to a regional plan that will benefit everyone rather than individual goals it will uplift the entire region and will place the region on a path that will put them at number 1 in the nation.
All they need is leadership to create that big picture in which everyone at home and abroad can buy into