Author: The Nation

  • Investors to lift Onne terminal with $100m

    Investors to lift Onne terminal with $100m

    By Ibrahim Apekhade Yusuf

    In an important milestone for Nigeria’s port industry, Onne Multipurpose Terminal (OMT) has commenced container operations at Onne Port, thereby doubling Eastern Nigeria’s modern container handling capacity and providing a catalyst to the region’s economic growth.

    Enrique K. Razon, Chairman/President, ICTSI, commenting on OMT’s debut noted that: “These are just the first steps. We are bullish on the long-term prospects for the Nigerian economy and we are ready to invest significant funds in OMT. To-date, ICTSI has invested $35 million in state-of-the-art equipment, IT systems and personnel training.”

    The next step,” he elaborated, “will be major infrastructure works as well as investments in additional and bigger equipment totalling $100million. We will progressively align OMT’s facilities and service capacity to the needs of the diverse customer base the terminal is intended to serve.”

    MSC Floriana, a vessel belonging to the world’s biggest shipping line, Mediterranean Shipping Company (MSC), berthed at OMT located at Berths 9-11 at Federal Ocean Terminal, Onne Port. OMT offloaded 1297 containers.

    “We are all very proud of the successful operation of the vessel,” underlined Robert Uljan, Head of Operations, OMT. “Our advanced cargo handling systems worked well and our operations and technical teams, all recruited from Rivers State, hit the ground running and performed very successfully. We are very confident we can build on this achievement and progressively ramp up performance over the quay and landside to the benefit of all of our customers, shipping lines and cargo owners,” he emphasised.

    OMT, a subsidiary of the global port operator International Container Terminal Services Inc. (ICTSI), is ideally placed to serve shipping lines and Nigeria’s importers and exporters. Backed by a financially strong investor, OMT is a state-of-the-art facility with 750 meters of deep-water quay, 22 hectares of yard area, two of the biggest mobile harbour cranes in Nigeria, ample yard equipment and the latest IT systems powering operations and planning.

    Following OMT’s opening, Jacob Gulmann, Managing Director, OMT, commented:  “It has been a pleasure to work with the Nigerian Ports Authority to realise this project. Berths 9-11 had been languishing, lying virtually unused for the last decade. Now, in partnership with NPA, we are bringing the area to life, adding capacity and competition to Onne Port. This is sorely needed as the port is currently experiencing acute congestion with respect to container traffic. We are also very happy to be able to hire and train hundreds of talented employees during this period of challenges to the oil and gas sector which has hit the local communities particularly hard.”

  • Nigeria attracts $195m healthcare investment in five years

    Nigeria attracts $195m healthcare investment in five years

    By Ibrahim Apekhade Yusuf

    The nation’s healthcare ecosystem has attracted an estimated $195milion in the sector in the last five years, a report has revealed.

    According to data obtained from Africa Private Equity and Venture Capital Association (AVCA) April report on equity and venture capital deals.

    Of the 97 volumes of PE and VC deals reported worth $1.3 billion from 2015 to 2020, Nigeria accounted for 15 percent besting Morocco, Egypt, South Africa and Ghana.

    The 15 percent share of deals amounts to about $195 million.

    Morocco came in second as its healthcare accounted for 11 percent share of the PE&VC deals to Africa.

    This was followed by Egypt with a deal volume of 10 percent as South Africa and Ghana made the top five lists with eight percent volume of deals each.

    Nigeria’s growing population and seemingly low commitment by the Federal government on healthcare delivery has made the country a very attractive market for healthcare Investors.

    “The demand for healthcare services in Nigeria is high and will increase with the growth of the population. Unfortunately this rising demand cannot be covered by Nigeria’s weak healthcare system today,” Anthony Abou Nader in June 2019 told a group of healthcare Investors inviting them to invest in Nigeria.

    He also projected bigger investment in the next four years for Nigeria’s healthcare sector.

    Also, the United Nations Economic Commission for Africa (ECA) estimated health financing gap of US$66 billion per annum in Africa.

    The report noted that Nigeria along with many other African countries are yet to fulfil the agreement to allocate 20 percent of its national budget to healthcare, hence present a huge opportunity for private investors to rewrite the narrative.

     

  • AfDB, IFAD, others commit $17b  to boost food security in Africa

    AfDB, IFAD, others commit $17b to boost food security in Africa

    By Ibrahim Apekhade Yusuf

    A coalition of multilateral development banks and development partners has pledged over US$17 billion in financing, in a bold bid to address rising hunger on the African continent and to improve food security, The Nation has learnt.

    These funds were pledged on the final day of a two-day high-level dialogue – Feeding Africa: leadership to scale up successful innovations recently.

    The event was hosted by the Africa Development Bank and the UN International Fund for Agricultural Development (IFAD), in partnership with the Forum for Agricultural Research in Africa (FARA) and the CGIAR System Organisation.

    In addition, 17 African heads of state signed on to the commitment to boost agricultural production by doubling current productivity levels through the scaling up of agro-technologies, investing in access to markets, and promoting agricultural research and development.

    The various parties adopted a communiqué outlining these commitments at the end of the event.

    Of the overall amount pledged, more than US$10 billion came from the African Development Bank, which said it would invest US$1.57 billion on scaling up 10 selected priority commodities over the next five years. This will help countries achieve self-sufficiency. Another US$8.83 billion go towards building strong value chains for these commodities over the next five years. This will include programmes to create opportunities for young people – particularly women.

    African Development Bank President Dr. Akinwumi A. Adesina said: “Let us now create today, a stronger partnership: a partnership for greater scale; a partnership to take technologies and innovations to hundreds of millions of farmers.”

    IFAD said it aimed to provide an additional US$1.5 billion to Africa to support national efforts to transform food and agricultural systems over the next three years. IFAD will also invest more in creating the pre-conditions for increased agricultural productivity. The organisation is helping to develop a growing pipeline of investments to restore land, create jobs and build resilience to climate change in the Sahel region. This will contribute to the Green Great Wall objectives, and will create 10 million jobs in the region by 2030.

    “We praise the African leaders’ commitment to increase agricultural productivity and improve food security for millions of Africans,” said IFAD President Gilbert F. Houngbo. “By modernising African agriculture, small-scale farmers will be in a better position to bring more affordable food to consumers and create decent livelihoods for millions of young Africans involved in the processing, storage and marketing of food.”

    The Arab Bank for Economic Development in Africa (BADEA) committed up to US$1.5 billion over the period 2020-2024 in agriculture. The Islamic Development Bank Group said it would earmark US$3.5 billion in developing the agriculture sector in Africa in the next three years. It said these investments will develop commodity value chains for both staple food and cash crops.

    In an additional show of solidarity, the Bill & Melinda Gates Foundation, joining a coalition of development partners, declared that it will invest US$652 million in the next three years. This will support agriculture research and development initiatives in Africa. This funding is expected to empower 300 million farmers with a host of new innovations.

    IFAD has invested over $23.2billion in 518 million rural people, empowering them to reduce poverty, increase food security, improve nutrition and strengthen resilience since 1978.

    The funds come as grants and low-interest loans to projects. IFAD is an international financial institution and a United Nations specialised agency based in Rome – the United Nations food and agriculture hub.

  • PSG stumbles leave Lille on brink of Ligue 1 title

    PSG stumbles leave Lille on brink of Ligue 1 title

    LILLE stand tantalisingly close to a first Ligue 1 title in a decade, but Kylian Mbappe is convinced that Paris Saint-Germain will only have themselves to blame if they fail to retain their crown.

    PSG’s 1-1 draw at Rennes last weekend followed a 3-0 victory for Lille at Lens, and left the northern club requiring four points from their last two outings to be sure of becoming champions for the first time since 2011.

    It would be a remarkable success story for Lille, but also a damning indictment of PSG’s failings in a campaign in which they have lost eight times already, as many as in the last two seasons combined and the most they have suffered in a single season since 2010-11.

    “If we don’t win the league it will have been us who failed to win it rather than them who won it,” Mbappe told Eurosport after PSG beat Montpellier on penalties in midweek to reach the French Cup final.

    After his comments caused a backlash, Mbappe took to social media to explain himself.

    “Lille would make for great champions if they are crowned but with eight defeats, if we lose the title we will be fully responsible,” Mbappe wrote alongside the hashtag #Respect.

    Lille, who took four points out of a possible six against Paris this season, could even win the league with a game to spare this Sunday.

    In the seemingly unlikely event that PSG fail to beat mid-table Reims, Christophe Galtier’s Lille will be champions by bettering the capital side’s result when they host Saint-Etienne.

  • Aribo helps Rangers finish as unbeaten champions

    Aribo helps Rangers finish as unbeaten champions

    LEON Balogun was missing, but Joe Aribo featured as champions Rangers, ended their Scottish Premiership season unbeaten with a 4-0 win over Aberdeen.

    Steven Gerrard had already been crowned champions going into their final game of the season but needed to avoid defeat to end the season unbeaten.

    Aribo played as an unorthodox left-back once again, and he put in a decent shift for the 76 minutes he was on the pitch.

    The Nigerian international had a 94% pass accuracy while also made one successful interception and tackle, respectively.

    Rangers settled into the game quickly as Joe Lewis gave them a 1-0 lead inside five minutes. Kemar Roofe then finished off a Ryan Kent assist in the 34th minute before scoring his second on the hour mark following a ball from Ianis Hagi.

  • ‘Tuchel got it wrong’ Chelsea fans rage after losing FA Cup final

    ‘Tuchel got it wrong’ Chelsea fans rage after losing FA Cup final

    LOSING the FA Cup final, despite a big final three games coming up, is hurting Chelsea fans who think their side should have performed much better at Wembley.

    Thomas Tuchel’s side lost to Arsenal in midweek, suffering a blow to their hopes of a finish in the top four.

    They have Liverpool breathing down their necks with Jurgen Klopp’s side possessing a game-in-hand over the Blues.

    Leicester City player ratings as Youri Tielemans cracker wins historic first FA Cupleicestermercury

    One fan said: “One more thing. Our shooting from outside the box. Horrible. Corners. Horrible. So many issues from last season still remain and need addressing.”

    Another added: “Tuchel has got this whole week wrong…Major doubts over top four chances now. Play your best players when it matters most. End of.”

    “Tuchel got it wrong today and got it wrong midweek,” a third supporter said.

    “Pulisic needs to start. Chilly needs to start. Put your best players on the pitch now. There’s no room for error.”

    A fourth fan added: “I’m broken, 29th May is the last chance to save this season.”

    “You can’t win a cup final with someone like Werner upfront, his decision making is awful,” another said. “Chances don’t come often in finals, every single decision matters. If Tuchel uses Timo for the Champions League final, it’s congrats to Man City.”

  • Lewandowski equals  Bundesliga record  with 40th goal

    Lewandowski equals Bundesliga record with 40th goal

    ROBERT Lewandowski equalled Gerd Mueller’s 49-year-old scoring record as the Bayern Munich striker netted his 40th Bundesliga goal of the season in a 2-2 draw at Freiburg on Saturday.

    Lewandowski, FIFA’s best male player of 2020, has equalled Mueller’s tally, scored over 34 games in 1971⁄72, in just 28 league fixtures this term.

    Lewandowski converted a penalty for the champions after 26 minutes to equal the league’s record.

    As part of his penalty celebrations, the Poland striker lifted his match shirt to reveal a picture of Gerd Mueller over the text “4ever Gerd”.

    The fixture was briefly halted after Lewandowski equalled Mueller’s milestone as his Bayern team-mates made a guard-of-honour on the side of the pitch which the smiling 32-year-old ran through.

    Freiburg drew level almost immediately when Manuel Gulde headed in at the near post from a corner on 29 minutes after slipping his marker.

    Bayern, who were crowned German champions last weekend for the ninth season in a row, upped the tempo after the break.

  • Fifth time lucky Leicester beat Chelsea to win first FA Cup

    Fifth time lucky Leicester beat Chelsea to win first FA Cup

    THE fifth time was the charm for Leicester City, who has claimed its first FA Cup in a Youri Tielemans-authored and VAR-reviewed 1-0 win over Chelsea at Wembley Stadium on Saturday.

    Leicester City had lost the 1949, 1961, 1963, and 1969 FA Cup Finals, but now hoist the trophy after a 52-year wait between finals.

    Tielemans scored an audacious goal from distance to put the Foxes ahead, and Ben Chilwell’s 90th-minute equalizer was taken off the board by VAR for a razor-thin offside as Brendan Rodgers’ men won it all.

    Leicester CEO Aiyawatt Srivaddhanaprabha was shown pumping his first, crying, and point to the image of his late father, Vichai Srivaddhanaprabha, who was killed in a helicopter crash after a match in late 2018.

    Former Leicester full-back Ben Chilwell saw a last-gasp Chelsea effort ruled out for offside after a video assistant referee review, while Kasper Schmeichel earlier made a superb save to deny Mason Mount.

    The Foxes were contesting just their first FA Cup final since 1969, when the Beatles were number one with Get Back and Neil Young’s goal sunk the hopeful Foxes – and an eight-year-old Gary Lineker cried all the way home on the train.

    The only tears of Leicester blue this time out were of joy and relief however, as Rodgers’ men capitalised on Chelsea’s toothless final-third play.

    Chelsea’s second FA Cup final defeat in as many years will now put a major squeeze on the end of the Blues’ season.

    New boss Thomas Tuchel has transformed the Stamford Bridge men after replacing Frank Lampard on January 26 but Chelsea now face a dogfight to secure a top-four Premier League finish – that starts with hosting Leicester on Tuesday night.

    The Champions League final against Premier League champions Manchester City on May 29 in Portugal must now seem an age away for Tuchel and his luckless Blues.

    And for the likes of Mason Mount and Reece James, two FA Cup final losses in succession will be a bitter pill after such a resurgent second-half to this campaign.

    A number of fans booed the players for taking the knee before kick-off, though the anti-racism gesture also received warm applause.

    However, video technology intervened to overrule the decision and restore Leicester’s lead in dramatic circumstances

  • Zidane casts doubt  over future as Real  Madrid coach

    Zidane casts doubt over future as Real Madrid coach

    ZINEDINE Zidane hinted on Saturday he could leave as coach of Real Madrid at the end of the season, saying he believes “there comes a time when it’s the moment to change”.

    Zidane’s contract expires in 2022 but he has repeatedly refused to confirm he will still be at the club next season.

    The Frenchman has a history of surprises after resigning as coach unexpectedly in 2018 before making a shock return a year later.

    As a player, he initially announced his retirement from international football in 2004 before coming back for the 2006 World Cup, after which he retired for good.

    “You talk about me leaving in 2006 and 2018 and it’s like you think I leave because I’m shirking responsibility or that I quit when things get tough,” said Zidane in a press conference.

    “It’s not, the only thing about me is that what I do, I do to the end, and then there comes a time when it’s the moment to change. For everyone, not just for me. For the club, for the good of the club, for the people.

  • Tielemans thanks VAR for victory

    Tielemans thanks VAR for victory

    BELGIAN Youri Tielemans interviewed after the final whistle by BT Sport, did not forget to acknowledge his side’s fortune in seeing that late goal chalked off.

    “Thank you VAR! Really, what an amazing thing that is!” Tielemans laughed when asked about the decision.

    “It’s a tough decision but when you have to make it, you have to make it. Maybe it was tight but it was offside, and you have to give that call.”

    Saturday’s triumph marked the first time in Leicester’s history that they have won the world’s oldest football competition, having previously finished runners-up on four occasions.

    “It feels really good! It’s amazing! I am really glad to score the goal that helped the team to win the game,” Tielemans added to the BBC.

    “It was a really tight game. To score in the final … what a goal that was! I am really happy for the team and the fans! The goal was really good!

    “It is really special to have the fans in today. I hope everyone was safe. And the fans watching it from home, I hope they are proud of us. I am sure they are.