The Nation Newspaper

Tag: begins

  • Fed Govt begins construction of N11.6b road in Enugu

    The Federal Government has started the construction of the Nenwe-Uduma Road in Enugu State.

    The contract is said to be the most expensive road project in the Southeast.

    The Federal Government awarded the contract for the 26-kilometre road to Setraco Construction Company for N11.6billion.

    Flagging off the road at the weekend on behalf of the Federal Government, the senator representing Enugu West and Deputy Senate President Ike Ekweremadu said the road would be completed in 30 months.

    Ekweremadu, who attracted the road to his constituency, explained that he promised the people of Uduma and Nenwe communities during his electioneering campaign that it would be constructed before the end of this year.

    The senator said he was happy that the people voted for him and got the road.

    He assured that those who do not return home for the Yuletide would not recognise the road in 2013.

    Ekweremadu added that the contractor would begin work on the road in the next two weeks.

    Giving an account of his stewardship since he joined politics, the senator expressed happiness that he fought the guinea worm scourge, which was rampant in some communities in his constituency, before he assumed office through the provision of potable water.

    He said he joined politics not because he had no job but because of his resolve to uplift his people.

    The senator said the road was part of fulfilling his vision for his people.

    Ekweremadu thanked President Goodluck Jonathan for approving the project, assuring that his constituents would support his administration.

    The President-General of Nenwe Improvement Union, Edeafia Clement, said the residents were happy to witness the beginning of the road.

    He said: “The good people of Nenwe and Oduma are very good neighbours connected with a road that can best be described as muddy, undulating, jerky and very rough. The Nenwe-Oduma road is one of the major roads that touch the agrarian life of Aninri people.

    “Aninri literally means land of food. Indeed, we are farmers, producing a variety of food items, including rice, cassava, yam, vegetables, among others, in not just subsistence but also in commercial quantity. We cannot evacuate these crops to urban areas for better bargain because of the deplorable state of this road.”

  • Medview Airlines begins transporting of pilgrims from Saudi Arabia

    Medview Airlines begins transporting of pilgrims from Saudi Arabia

    Medview Airlines at the weekend began transporting at least 2011 pilgrims that travelled from Mecca, Saudi Arabia.

    The pilgrims arrived through the Hajj and cargo terminal of the Murtala Muhammed International Airport (MMIA), Ikeja, Lagos.

    The airlines flew in about 500 pilgrims from Oyo State on Friday, while another 505 pilgrims from Ogun State were brought back on Saturday.

    Five hundred and five pilgrims from Osun State returned yesterday with additional 337 from Edo State. Another batch of 164 pilgrims from Ogun State were expected to arrive the same day.

    Among the returnees was the Speaker of the Oyo State House of Assembly, Monsura Sunmonu, who described the exercise as interesting and purposeful.

    On the deportation of female pilgrims by the Saudi Arabian authorities, she said it was the policy of the government for women to be accompanied to the holy land. She urged the National Hajj Commission of Nigeria (NAHCON) to ensure that things are done rightly in future to prevent a recurrence.

    Also speaking, the Chief Executive Officer, Med-View Airline, Alhaji Muneer Bankole, described the exercise as successful despite some hitches.

  • Unity Bank begins sale of 9 subsidiaries

    Unity Bank Plc has started divesting from its non-core banking subsidiaries with a view to complying with the new banking regulatory regime introduced in 2010 by the Central Bank of Nigeria (CBN).

    Under the CBN’s Scope of Banking Activities and Ancillary Matters No 3, 2010, banks are required to fully concentrate on core banking functions. The new model requires banks to either sell all non-core banking businesses or form a holding company to hold such non-core banking businesses including activities such as insurance, asset management and capital market operations.

    Most banks including Access Bank Plc, Diamond Bank Plc, Fidelity Bank Plc, Guaranty Trust Bank (GTB) Plc, Skye Bank Plc, Sterling Bank, Zenith Bank, Unity Bank and Wema Bank have chosen to divest from non-banking subsidiaries.

    Unity Bank at the weekend indicated it has commenced and made appreciable progress in the divestments from non-core banking subsidiaries.

    In a regulatory filing with the Nigerian Stock Exchange (NSE), the bank indicated that it has already sold three subsidiaries including Unity Registrars Limited, Pelican Prints Limited and Northlink Insurance.

    It indicated it was about completing the deal for Caranda Management Services Limited, which sale process was just about 14 per cent to complete. Two other subsidiaries- Hexadix Properties Limited and Unity Bank Bureau De Change Limited have also started discussions with potential new investors with the processes almost 39 per cent and 27 per cent completed respectively.

    Unity Bank also informed that it has identified a buyer for the purchase of Unity Investment & Capital Limited, while Newdevco Investments & Securities Company Limited and Unity Kapital Assurance Plc are currently being packaged for sale to identified buyers.

    The bank stated that it intended to conclude the whole divestment process on or before December 31, 2012.

  • NSC begins Rio 2016 preparations after Eko 2012

    NSC begins Rio 2016 preparations after Eko 2012

    The National Sports Commission (NSC) has mapped out plans to commence preparation for the Rio 2016 Olympic Games immediately after the forthcoming Eko 2012 National Sports Festival (NSF) holding in Lagos from November 29 to December 9.

    According to the Media and Publicity Committee sub-committee of the Main Organising Committee (MOC) of the 18th NSF, the NSC will select experts to monitor and scout for promising and outstanding athletes during the sports festival to form the nucleus of a new Team Nigeria.

    Eko 2012, the MOC said in a statement, is expected to provide exceptional athletes who would be groomed on a periodic basis every year from 2013 till the next Olympics.

    “These athletes would form the core of the country’s contingent to future international sports competitions holding from next year,” the body said. “These competitions include the All Africa Games and the Commonwealth Games.”

    The statement added that the NSC Chairman/Minister of Sports, Bolaji Abdullahi, has directed that “henceforth, only athletes who have shown enough will and zeal to compete in our national colours will be given consideration in the formation of a new-look Team Nigeria.

    “The minister has also directed that the various sports associations must henceforth endeavour to take part in all national and international competitions available as that would keep the teams competitive in the build-up to the Olympics.”

    Meanwhile, the minister has directed that the various Sports Zones created by the NSC be empowered to scout for and develop talents in their domains, while particular attention should be paid to such sports as taekwondo, judo, wrestling, weightlifting and athletics.