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Thursday 16th July 2020,
Hope for Nigeria
service_chief_jona

President Jonathan Decorates New Service Chiefs, SEE What He Asked Of Them

President Goodluck Jonathan, on Wednesday decorated the newly appointed service chiefs with their new ranks. Those who were decorated include, Chief of Defence Staff, Air Chief Marshal Alex Badeh; Chief of Army Staff, Lt.-Gen. Kenneth Minimah; Chief of. Naval Staff, [...]

February 5, 2014 General

Syria – ship more chemicals to Russia

Russia said its ally Syria would soon ship more chemical weapons abroad for destruction after being accused of dragging its feet, while activists said civilians in Aleppo were fleeing deadly barrel bomb raids by President Bashar al-Assad’s air force. Moscow [...]

February 5, 2014 International

Judges lessen sentence handed to Gladys Chauke

It is said hell hath no fury like a woman scorned. Two Pretoria High Court judges had some sympathy with a woman who, in a “crime of passion”, pulled her two-timing husband so badly by the testicles that he had [...]

February 5, 2014 Government and politics, Human rights, Law
Disturbed by the inability of most investors in the recently privatised power generation and distribution firms to raise funds to run the operations of the plants, President Goodluck Jonathan has directed Vice-President Namadi Sambo to convene a meeting of stakeholders to seek new funding for the power sector. The Head, Public Communication, Bureau of Public Enterprises, Mr. Chigbo Anichebe, confirmed this in a statement made available to our correspondent in Abuja on Monday. Anichebe said stakeholders from different parts of the world would come together at an international conference holding at the State House in Abuja next Monday. The BPE spokesperson quoted the Permanent Secretary, Ministry of Power, Ambassador Godknows Igali, as saying that the conference was aimed at augmenting the efforts of the private sector in seeking funds for the electricity industry. Igali said, “Following the physical handover of the successor companies to the private sector investors on November 1, 2013, the burden of process optimisation and capacity expansion has been shifted from the Federal Government to the new owners. “Nonetheless, the Federal Government recognises that power supply still remains a social responsibility as it is the paramount infrastructure needed for our nation building and economic development. “Consequently, the President has directed Vice-President Namadi Sambo, who also chairs the National Council on Privatisation, to convene an international conference to facilitate the funding of the power sector infrastructure development of the country to achieve the required modernisation, expansion and overall enhancement of electricity service delivery. “Ultimately, the direct beneficiaries of the fund influx are the Transmission Company of Nigeria, the Discos, Gencos, NIPPs, the emerging IPPs and other sector service providers.” Participants in the conference are expected to be drawn from the country, development partners, the donor community, international financial institutions and financiers. According to Anichebe, the conference aims to facilitate an interaction between the new investors and local and international financial institutions to explore the available opportunities in meeting the capital expenditure needs of the Nigerian power sector.

FG seeks financiers for power firms

Disturbed by the inability of most investors in the recently privatised power generation and distribution firms to raise funds to run the operations of the plants, President Goodluck Jonathan has directed Vice-President Namadi Sambo to convene a meeting of stakeholders [...]

February 4, 2014 Business, Finance
Sonnie Ayere

FG May Get 15% Stake in New Mortgage Company

By Ndubuisi Francis The federal government may own 15 per cent equity or less in the newly-launched Nigeria Mortgage Refinance Company (NMRC), which is set to address the challenges associated with housing finance in the country. The NMRC, which has [...]

February 4, 2014 General
NSIA commits $10m to SMEs’ for agric business

NSIA commits $10m to SMEs’ for agric business

THE country’s agricultural sector development got a boost Monday, with the announcement by the Nigeria Sovereign Investment Authority (NSIA) through its Nigeria Infrastructure Fund to commit about $10 million to the Fund for Agricultural Financing in Nigeria (FAFIN or The [...]

February 4, 2014 General
FG reassures Nigerians of improved electricity supply

FG reassures Nigerians of improved electricity supply

The Federal Government on Sunday reassured Nigerians, especially industrialists, of steady electricity supply in a very short time. Chinedu Nebo, the minister of power, gave the assurance at the investiture of the newly elected president and council of the Enugu [...]

February 4, 2014 Demographics, Power
NBS to carry out jobs creation survey

NBS to carry out jobs creation survey

The National Bureau of Statistics on Monday unveiled plans to carry out a survey to enable it to ascertain the total number of jobs created by both the public and private sectors of the Nigerian economy. The agency said in [...]

February 4, 2014 Employment

Hadiza – The ‘run away’ lover

To be in love is to be in bondage.Love is a universal language.Hadiza is a Fulani girl that I met during my youth service in Niger state.I met her by chance.My eyes caught her tall frame with robust cheeks.She was [...]

February 4, 2014 General
wto Nigeria trade policy

WTO seeks transparency in Nigeria’s trade policies

The World Trade Organisation has called on the Federal Government to ensure transparency and inclusiveness in the formulation and implementation process of the country’s trade policies. The Deputy Director-General, WTO, Ambassador Yonov Agah, stated this on Saturday, in Abuja at [...]

February 3, 2014 Business
economy

Foreign portfolio investors withdraw $12.8bn in 2013

By Babajide Komolafe Foreign portfolio investors withdrew $12.8 billion from the economy last year, even as the nation’s external reserves maintained it downward trend last week. Speaking at the Monetary Policy Committee (MPC) meeting held last month, Deputy Governor, Central [...]

February 3, 2014 Business
Nigeria GDP Growth

Non-oil Sector Drives Nigeria’s GDP Growth

By Obinna Chima The non-oil sector of the Nigerian economy was the main driver of the country’s real Gross Domestic Product (GDP) growth in 2013, a report has indicated. According to the report, ongoing reforms in the key sectors of [...]

February 3, 2014 Business
Olusegun-Aganga

FG, GE Sign $350m Power Financing Deal

By Crusoe Osagie The federal government, at the weekend, signed a $350 million deal with General Electric (GE) to support the construction of small-scale power projects across Nigeria. The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, while speaking [...]

February 3, 2014 General
Minister-of-Power-Prof-Chinedu-Nebo

Subsidy on electricity not necessary – FG

The Federal Government has said it is not right to continue to subsidise electricity consumption by the citizens. According to the government, the power sector has been characterised by a series of challenges that require huge financial commitment. The Minister [...]

February 3, 2014 Power
patrick_art

Why Nigeria’s industrial development is slow -UNIDO

The United Nation Industrial Development Organisation (UNIDO) on Thursday attributed Nigeria’s slow pace development to inconsistency in the country’s industrial policy. UNIDO Country Representative in Nigeria, Dr Patrick Kormawa, who stated this in an interview, noted that Nigeria’s over-dependence on export [...]

January 31, 2014 Business
Olusegun-Aganga

FG moves to revitalise iron, steel sub-sector

The Federal Government says it has concluded plans to develop and implement a comprehensive Backward Integration Policy for the iron and steel sub-sector of the Nigerian economy. The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, who said this [...]

January 31, 2014 Key sectors
nigeria-turkey

Bilateral trade with Turkey hits $2.3b

TURKISH investors plan $50m textile plants in ImoTHE volume of bilateral trade between Nigeria and Turkey has risen from $2 billion in 2012 to $2.3 billion last year, as the two countries, yesterday, renewed strategies to further raise transactions profile [...]

January 31, 2014 Business
Minister-of-Communications-Technology-Mrs.-Omobola-Johnson

Govt commences open data initiative

The Ministry of Communication Technology on Thursday commenced the Open Data Development Initiative to support the Federal Government’s objective of driving innovation, investment and economic growth by enabling access to its data. The introduction of the open data initiative was [...]

January 31, 2014 Technology
Nigeria Pinching State Bond Bonanza Before Vote Africa Credit

Nigeria Pinching State Bond Bonanza Before Vote: Africa Credit

Nigerian states clamoring to sell bonds before next year’s election are seeing their plans threatened as regulators in Africa’s second-biggest economy tighten the requirements for issuing debt. Federal officials will prove less willing to approve sales as the February 2015 vote [...]

January 31, 2014 Africa
Minister-of-Power-Prof.-Chinedu-Nebo

Current power outages’ll last for two weeks – FG

The Federal Government has said that the near total blackout being currently experienced in most parts of the country will take the next two weeks to be resolved. The Minister of Power, Prof. Chinedu Nebo, said this in Abuja on [...]

January 31, 2014 Power
$11bn Invested in Agriculture Since 2011

$11bn Invested in Agriculture Since 2011- Jonathan

President Goodluck Jonathan  yesterday in Addis Ababa, Ethiopia, said a total of $11 billion had been invested in  the agricultural sector by private investors and development partners since the agricultural transformation agenda of his administration was launched in 2011. The [...]

January 31, 2014 Agriculture
BoI partners community on skills acquisition, employment generation

BoI partners community on skills acquisition, employment generation

THE Bank of Industry (BoI) has partnered the people of Bonny Kingdom as part of efforts to empower them with requisite skills that would aid employment generation and also increase the number of entrepreneurs in the country. The bank’s Managing [...]

January 30, 2014 Employment
The Nigeria Sovereign Investment Authority invests N1.6bn in mortgage refinance company

The Nigeria Sovereign Investment Authority invests N1.6bn in mortgage refinance company

The Nigeria Sovereign Investment Authority, through its Nigeria Infrastructure Fund, has announced that its board has approved a firm equity commitment of N1.6bn in the Nigeria Mortgage Refinance Company Plc. It, however, said the investment was subject to applicable regulatory [...]

January 30, 2014 Finance
Ambassador-of-Japan-to-Nigeria-Ryuichi

Japan to support Nigeria’s automobile development plan

Japan to support Nigeria’s automobile development plan – Japan has pledged to provide technical assistance to the Federal Government in the implementation of the proposed Automobile Development Plan aimed at ensuring the production of various vehicles in the country. The [...]

January 30, 2014 Business
Goodluck-Jonathan

Nigeria Mobilises $700m for Trans-Sahara Gas Project

Nigeria Mobilises $700m for Trans-Sahara Gas Project – President Goodluck Jonathan Wednesrday announced that Nigeria had mobilised $700 million to support the completion of Nigeria-Algeria gas pipeline project. Jonathan made this known in Addis Ababa in a report on the [...]

January 30, 2014 Business
Ngozi-Okonjo-Iweala

WEF: Foreign investors impressed with Nigeria — Okonjo Iweala

WEF: Foreign investors impressed with Nigeria — Okonjo Iweala BY JONAH NWOKPOKU The Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo Iweala, has said that foreign investors were impressed with Nigeria’s economic growth and overall performance [...]

January 30, 2014 Business

Skydiving – Teenager survives 3,000-foot fall

Skydiving – Teenager survives 3,000-foot fall – Tulsa, Oklahoma: A 16-year-old Texas girl who plummeted more than 3,000 feet (915 metres) to the ground in an Oklahoma skydiving accident survived and is recovering from her many injuries, a doctor said [...]

January 29, 2014 Incidents, International

Woman Wrecks her 28-year old marriage over a debt

Woman Wrecks her 28-year old marriage over a debt   – A 52-year old woman, Alhaja Shade Adebayo, who resides in Lagos State, southwest Nigeria, has narrated how her friend, Ganiyatu Lawal, wrecked her 28-year old marriage over a debt [...]

January 29, 2014 General

D’Banj – I’m Going Into Farming

D’Banj, Nigeria’s pop music star said that he is considering delving into full scale farming to help fight poverty and encourage many African youths to embrace agriculture as a means of livelihood. He was also made the organisation’s face of 2014 Year [...]

January 29, 2014 General, Music and film

London celebrates Chinese New Year 2014

London celebrates Chinese New Year 2014 – Chinese New Year takes place this year on Friday January 31, but for London the main Chinese New Year celebrations, marking the Year of the Horse, take place on Sunday February 2. As [...]

January 29, 2014 International