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Tag: infrastructure

  • Lagos steps up security, infrastructure, others

    Lagos steps up security, infrastructure, others

    The fifth edition of the town hall meeting organised by Governor Akinwunmi Ambode was another proof that Lagos has no rival among states in the country, writes WALE AJETUNMOBI.

    Sir Molade Okoya-Thomas Indoor Sports Hall of the Teslim Balogun Stadium, Surulere had perhaps never seen such over flowing crowd before. As early as 7 am, people from all walks of life started converging on the hal. They were there to listen to the account of stewardship of the Lagos State Governor Akinwunmi Ambode.
    The event, which held on Tuesday, October 11, was the third Town Hall Meeting this year and fifth in the series of the programme.
    Before the governor’s arrival, eminent personalities had converged on the venue.
    Some of the eminent personalities include: Lagos State Deputy Governor, Dr. Idiat Oluranti Adebule; members of the State Executive Council; Oba of Lagos, Oba Rilwan Akiolu; Senator representing Lagos Central at the Senate, Chief Mrs Oluremi Tinubu; former Senator representing Lagos West, Ganiyu Olanrewaju Solomon; former Lagos State Deputy Governor, Abiodun Ogunleye; Elegushi of Ikate Land, Oba Saheed Ademola Elegushi; All Progressives Congress chieftain, Prince Tajudeen Olusi; Majority Leader of House of Representatives, Femi Gbajabiamila; former Speaker of Lagos State House of Assembly, Adeyemi Ikuforiji; Oniru of Iru Land, Oba Abiodun Oniru and former Secretary to the State Government, Princess Adenrele Ogunsanya.
    Others include member of the House of Representatives from Lagos, Hon. Jide Jimoh; member of Lagos State House of Assembly from Surulere, Hon. Desmond Elliot; renowned economist, Professor Pat Utomi; Managing Director of Access Bank, Herbert Wigwe; service chiefs and heads of security agencies, among many others.
    Ambode disclosed plans to recruit at least 5,000 Neighbourhood Watchers to boost security across the State, with new recruits expected to earn at least N25, 000 monthly with other allowances, adding that the Neighbourhood Safety Agency Bill which he signed into Law on August 15, 2016, was part of efforts to institutionalise and deepen community policing in the State.
    “There is a law that has just been passed which is the Lagos State Neighborhood Safety Corps Law, 2016 and in line with the resolution taken by the House of Assembly yesterday, we would go all out to make sure that this agency is activated and all our neighborhoods will be covered, and then centralize with the State Government with all the necessary equipment and resources to ensure that we establish what we call community policing and that is the way to go.
    “We will rebrand Neighborhood Watchers and re-equip them to the level that each Neighborhood Watchers in all the Local Governments will have their vehicles and necessary equipment to complement security. We are also working on employing additional 5,000 Neighborhood Watchers in all our Local Governments and they will be paid by us, while the basic salary for the entrance level will be N25, 000 per month,” the Governor said.
    The governor, who said the government would soon roll out all its empowerment programmes, said interventions targeted to assist youths, artisans and the needy to become self reliant have been provided, hence beneficiaries would start getting support from the last quarter of the year.
    “We will roll out all our empowerment programmes immediately to assist all our youth, artisans and the needy. The funding for the N500m Lagos State Persons Living with Disability Fund has been provided and beneficiaries will start getting support from this quarter,” Governor Ambode said.
    Speaking on the budget performance of the 2016 budget, Governor Ambode disclosed that the State’s budget performance for January to September performed at 69 per cent as against 65 per cent for the same period in 2015.
    He said a total of N166.8billion has been spent on capital projects this year, a figure, he said, was more than double the N53.6billion spent for the same period last year.
    Ambode said the state generated N97.3billion in the last quarter with an expenditure of N110.2billion, noting that the cash reserve of the State has remained positive.
    The governor also disclosed that N55billion was expended on capital expenditure in the last quarter.
    According to him, the last quarter witnessed a lot of activities from the delivery of massive road infrastructure across the Local Governments in the State as well as the promulgation of the anti-Land Grabbing Law, aimed at making life easier for property owners and a boost in investment activities that will enhance the growth and development potentials in the State.
    He expressed optimism that despite the recession, the State’s economy would remain on a strong and sound footing if capital expenditure spending is increased.
    “In this quarter, we will concentrate more resources on capital projects. We will put money in the hands of our local contractors and through them stimulate and reflate the economy. Immediate payments will be made to contractors handling health sector and education sector projects within the next two weeks,” Governor Ambode assured.
    Speaking on some projects outlined for the next quarter, the Governor said that plans have been concluded to transform the Yaba Bus Park with the provision of modern bus shelters replica of the ones erected at the Tafawa Balewa Square (TBS) in Lagos Island.
    Governor Ambode also assured that the road rehabilitation projects ongoing at Adetola Street and Brown Road in Aguda, Surulere as well as Olajuwon and Biney Streets in Yaba would be completed before the end of the present quarter.
    He said with the completion and delivery of the first phase of the 114 local government roads last month, the process of bid invitation for the construction of additional 114 roads across the 20 Local Governments and 37 Local Council Development Areas would commence within the next three weeks.
    “We have commenced a multi-faceted development that will change the face of Lagos Island. We have installed new bus shelters at Tafawa Balewa Square and before the end of December, various projects will be commenced within the National Museum axis, Onikan to Tafawa Balewa Square, and from Lagos House Marina and Freedom Park. By the time we complete these projects, Lagos will become a major tourist destination in West Africa,” the Governor said.
    Highpoint of the event was the interactive session where Governor Ambode took time to listen to the areas where the people would need the attention of government ranging from road rehabilitation, personal requests and critical interventions in general issues affecting the people.
    For instance, one of the participants at the meeting who requested for coaching job with the Sports Ministry got an instant approval for her request. The governor ordered affected officials to go and inspect areas where issues were raised by the people, with the view to intervene as quickly as possible.
    A resident of Dolphin Estate, Chief Mrs. Bewaji Kuku, raised the issue of flooding in the estate, saying that it has been a major concern for residents anytime it rained.
    She also raised the issue of contract for indigenous contractors, saying that local people should be encouraged to grow the economy, especially through the construction industry.
    However, Kuku recalled his encounter with Ambode during the electioneering campaign when she ‘bombarded’ him with questions on his preparedness to lead the State. She said: “I must confess that Governor Ambode has indeed performed very well and he is working hard to transform the state.”
    The Association of Professional Women in APC, on their part, commended Governor Ambode for the good job he has been doing in the State, but asked for the consideration of their members for employment opportunities.
    Responding, Governor Ambode took time to respond to all the issues raised, assuring that the concerns of the people would be addressed. He explained that the State Government has expended a lot of resources in combating flooding in the State, adding that the Flooding on Dolphin Estate was most times flash flood which would disappear few hours after the rain.
    He also assured the residents of the estate of the commitment of his administration to continually improve on the issues of flooding, ditto for all the nooks and crannies of the state.
    Oba of Lagos Oba Rilwan Akiolu lamented the suspension of a bill seeking special status for Lagos by the Senate, but expressed optimism that the bill would still become law in the nearest future.
    He said: “The suspension of the bill sponsored by our amiable daughter and wife, Senator Oluremi Tinubu is unfortunate but it is better and advisable to let these people know that this is not a matter of quarrel but a question of time. It will definitely happen.”
    The monarch, who recalled the history of the agitation for special status for Lagos, urged the promoters of the bill to go back to drawing board and do their home work well before representing it for consideration and passage.
    On the performance of Ambode’s administration, the monarch said with the monumental achievements recorded in the last 16 months, the eight years tenure of office of the Governor was certain.
    Also speaking on the special status bill, another APC leader in the State, Prince Tajudeen Olusi urged the promoters of the bill to be circumspect when representing the bill for consideration. He said it must be made clear that the National Assembly should not, and must not attempt to legislate for Lagos as a result of the request for one percent empowerment for Lagos which the bill seeks to achieve.
    The governor, who also spoke on the issue, commended Senator Tinubu for her courage to push for the bill, while also lauding the Senate President, Bukola Saraki for his magnanimity in allowing the bill to be presented on the floor of the Senate.
    By the time the crowd started dispersing, there was almost an agreement that Ambode is just starting with Lagos and that when he is through with it, the sky will be its limit.

  • Lagos steps up security, infrastructure, others

    Lagos steps up security, infrastructure, others

    The fifth edition of the town hall meeting organised by Governor Akinwunmi Ambode was another proof that Lagos has no rival among states in the country, writes WALE AJETUNMOBI

    Sir Molade Okoya-Thomas Indoor Sports Hall of the Teslim Balogun Stadium, Surulere had perhaps never seen such over flowing crowd before. As early as 7 am, people from all walks of life started converging on the  hal. They were there to listen to the account of stewardship of the Lagos State Governor Akinwunmi Ambode.

    The event, which held on Tuesday, October 11, was the third Town Hall Meeting this year and fifth in the series of the programme.

    Before the governor’s arrival, eminent personalities had converged on the venue.

    Some of the eminent personalities include: Lagos State Deputy Governor, Dr. Idiat Oluranti Adebule; members of the State Executive Council; Oba of Lagos, Oba Rilwan Akiolu; Senator representing Lagos Central at the Senate, Chief Mrs Oluremi Tinubu; former Senator representing Lagos West, Ganiyu Olanrewaju Solomon; former Lagos State Deputy Governor, Abiodun Ogunleye; Elegushi of Ikate Land, Oba Saheed Ademola Elegushi; All Progressives Congress chieftain, Prince Tajudeen Olusi; Majority Leader of House of Representatives, Femi Gbajabiamila; former Speaker of Lagos State House of Assembly, Adeyemi Ikuforiji; Oniru of Iru Land, Oba Abiodun Oniru and former Secretary to the State Government, Princess Adenrele Ogunsanya.

    Others include member of the House of Representatives from Lagos, Hon. Jide Jimoh; member of Lagos State House of Assembly from Surulere, Hon. Desmond Elliot; renowned economist, Professor Pat Utomi; Managing Director of Access Bank, Herbert Wigwe; service chiefs and heads of security agencies, among many others.

    Ambode disclosed plans to recruit at least 5,000 Neighbourhood Watchers to boost security across the State, with new recruits expected to earn at least N25, 000 monthly with other allowances, adding that the Neighbourhood Safety Agency Bill which he signed into Law on August 15, 2016, was part of efforts to institutionalise and deepen community policing in the State.

    “There is a law that has just been passed which is the Lagos State Neighborhood Safety Corps Law, 2016 and in line with the resolution taken by the House of Assembly yesterday, we would go all out to make sure that this agency is activated and all our neighborhoods will be covered, and then centralize with the State Government with all the necessary equipment and resources to ensure that we establish what we call community policing and that is the way to go.

    “We will rebrand Neighborhood Watchers and re-equip them to the level that each Neighborhood Watchers in all the Local Governments will have their vehicles and necessary equipment to complement security. We are also working on employing additional 5,000 Neighborhood Watchers in all our Local Governments and they will be paid by us, while the basic salary for the entrance level will be N25, 000 per month,” the Governor said.

    The  governor, who said the government would soon roll out all its empowerment programmes, said interventions targeted to assist youths, artisans and the needy to become self reliant have been provided, hence beneficiaries would start getting support from the last quarter of the year.

    “We will roll out all our empowerment programmes immediately to assist all our youth, artisans and the needy. The funding for the N500m Lagos State Persons Living with Disability Fund has been provided and beneficiaries will start getting support from this quarter,” Governor Ambode said.

    Speaking on the budget performance of the 2016 budget, Governor Ambode disclosed that the State’s budget performance for January to September performed at 69 per cent as against 65 per cent for the same period in 2015.

    He said a total of N166.8billion has been spent on capital projects this year, a figure, he said, was more than double the N53.6billion spent for the same period last year.

    Ambode said the state generated N97.3billion in the last quarter with an expenditure of N110.2billion, noting that the cash reserve of the State has remained positive.

    The governor also disclosed that  N55billion was expended on capital expenditure in the last quarter.

    According to him, the last quarter witnessed a lot of activities from the delivery of massive road infrastructure across the Local Governments in the State as well as the promulgation of the anti-Land Grabbing Law, aimed at making life easier for property owners and a boost in investment activities that will enhance the growth and development potentials in the State.

    He expressed optimism that despite the recession, the State’s economy would remain on a strong and sound footing if capital expenditure spending is increased.

    “In this quarter, we will concentrate more resources on capital projects. We will put money in the hands of our local contractors and through them stimulate and reflate the economy. Immediate payments will be made to contractors handling health sector and education sector projects within the next two weeks,” Governor Ambode assured.

    Speaking on some projects outlined for the next quarter, the Governor said that plans have been concluded to transform the Yaba Bus Park with the provision of modern bus shelters replica of the ones erected at the Tafawa Balewa Square (TBS) in Lagos Island.

    Governor Ambode also assured that the road rehabilitation projects ongoing at Adetola Street and Brown Road in Aguda, Surulere as well as Olajuwon and Biney Streets in Yaba would be completed before the end of the present quarter.

    He said with the completion and delivery of the first phase of the 114 local government roads last month, the process of bid invitation for the construction of additional 114 roads across the 20 Local Governments and 37 Local Council Development Areas would commence within the next three weeks.

    “We have commenced a multi-faceted development that will change the face of Lagos Island. We have installed new bus shelters at Tafawa Balewa Square and before the end of December, various projects will be commenced within the National Museum axis, Onikan to Tafawa Balewa Square, and from Lagos House Marina and Freedom Park. By the time we complete these projects, Lagos will become a major tourist destination in West Africa,” the Governor said.

    Highpoint of the event was the interactive session where Governor Ambode took time to listen to the areas where the people would need the attention of government ranging from road rehabilitation, personal requests and critical interventions in general issues affecting the people.

    For instance, one of the participants at the meeting who requested for coaching job with the Sports Ministry got an instant approval for her request. The governor ordered affected officials to go and inspect areas where issues were raised by the people, with the view to intervene as quickly as possible.

    A resident of Dolphin Estate, Chief Mrs. Bewaji Kuku, raised the issue of flooding in the estate, saying that it has been a major concern for residents anytime it rained.

    She also raised the issue of contract for indigenous contractors, saying that local people should be encouraged to grow the economy, especially through the construction industry.

    However, Kuku recalled his encounter with Ambode during the electioneering campaign when she ‘bombarded’ him with questions on his preparedness to lead the State. She said: “I must confess that Governor Ambode has indeed performed very well and he is working hard to transform the state.”

    The Association of Professional Women in APC, on their part, commended Governor Ambode for the good job he has been doing in the State, but asked for the consideration of their members for employment opportunities.

    Responding, Governor Ambode took time to respond to all the issues raised, assuring that the concerns of the people would be addressed. He explained that the State Government has expended a lot of resources in combating flooding in the State, adding that the Flooding on Dolphin Estate was most times flash flood which would disappear few hours after the rain.

    He also assured the residents of the estate of the commitment of his administration to continually improve on the issues of flooding, ditto for all the nooks and crannies of the state.

    Oba of Lagos Oba Rilwan Akiolu lamented the suspension of a bill seeking special status for Lagos by the Senate, but expressed optimism that the bill would still become law in the nearest future.

    He said: “The suspension of the bill sponsored by our amiable daughter and wife, Senator Oluremi Tinubu is unfortunate but it is better and advisable to let these people know that this is not a matter of quarrel but a question of time. It will definitely happen.”

    The monarch, who recalled the history of the agitation for special status for Lagos, urged the promoters of the bill to go back to drawing board and do their home work well before representing it for consideration and passage.

    On the performance of  Ambode’s administration, the monarch said with the monumental achievements recorded in the last 16 months, the eight years tenure of office of the Governor was certain.

    Also speaking on the special status bill, another APC leader in the State, Prince Tajudeen Olusi urged the promoters of the bill to be circumspect when representing the bill for consideration. He said it must be made clear that the National Assembly should not, and must not attempt to legislate for Lagos as a result of the request for one percent empowerment for Lagos which the bill seeks to achieve.

    The governor, who also spoke on the issue, commended Senator Tinubu for her courage to push for the bill, while also lauding the Senate President, Bukola Saraki for his magnanimity in allowing the bill to be presented on the floor of the Senate.

    By the time the crowd started dispersing, there was almost an agreement that Ambode is just starting with Lagos and that when he is through with it, the sky will be its limit.

  • IFC to raise $5b for infrastructure investments

    IFC to raise $5b for infrastructure investments

    The International Finance Corporation (IFC), a member of the World Bank Group, has launched a programme that aims to raise $5 billion from global institutional investors to modernise infrastructure in emerging markets over the next five years.

    The programme it said, would open up a new stream of capital flows to improve power, water, transportation, and telecommunications systems in developing countries.

    The initiative, called MCPP Infrastructure, builds on the success of IFC’s Managed Co-Lending Portfolio Program, a loan-syndications initiative that enables third-party investors to participate passively in IFC’s senior loan portfolio.

    In its first phase, the program allocated $3 billion from the People’s Bank of China across 70 deals in less than two years. It demonstrated how large investors can benefit from delegating the processes of deal origination and approvals to IFC.

    The first partnership under the program was signed with the global insurance company Allianz. Under the agreement, Allianz intends to invest $500 million, which will be channeled into IFC debt financing for infrastructure projects in emerging markets.

    IFC is also in advanced discussions with Eastspring Investments, the Asian asset management business of Prudential, for a commitment of $500 million. Similar discussions are being conducted with AXA, also for a commitment of $500 million.

  • Kwara to battle infrastructure deficit 

    The Kwara State government is set to plug the about N255 billion infrastructure gap in the state with the recent launch of its Infrastructure Development Fund (IF-K). The state plans to achieve this through partnership with some banks, contractors, consultants and others.

    The state Governor Abdulfatah Ahmed said that the establishment of the IF-K was informed by his desire to ensure rapid infrastructure growth and the need for an appropriate savings as well as investment mechanism. He added that in the next 10 months, over N5.8 billion will be pumped into the state’s economy via the IF-K.

    “Our expectation is that this injection will keep our project partners in business and have a positive spiral effect on employment generation. In the medium term, the remaining N5.3b of government spending will boost the state’s Gross Domestic Product (GDP) for about 18 months while sustaining the multiplier impact on job creation,” he said.

    The governor has also launched the construction of a Diamond Underpass at Geri Alimi, Ilorin, promising to commission soon the state’s newly-acquired Asphalt plant.

    Ahmed said, “Once the rains are over, we will commence major projects in the road, education, energy and health sectors across the state in a manner that accelerates development and ensures its even distribution.

    “Following from the PPP, IF-K is the second phase of my government’s long-term strategy to diversify our local economy, stimulate economic growth via private sector participation in infrastructure development and create opportunities for collective prosperity.

    “The purpose of the IF-K, therefore, is to pool funds for infrastructure projects, optimally leverage private sector resources for infrastructure development and channel State Internal Revenue to directly impact economic diversification and growth strategies. IF-K is also designed to ensure maximum quality assurance for asset and services procured by government and encourage broader and deeper interactions with the Kwara State Government from private and non-private partners.

    “The fund will be financed through a N5 billion seed fund and a N500 million monthly contribution from the state’s Internally Generated Revenue through an Irrevocable Standing Payment Order (ISPO). This implies that the money will be taken at source from the state’s Internally Generated Revenue and provides an additional layer of assurance to project partners.”

  • Fed Govt advised on jobs, infrastructure in the Niger Delta

    Fed Govt advised on jobs, infrastructure in the Niger Delta

    Rivers/Bayelsa Community Council in Lagos has held a reception for youths who just graduated from the Nigerian Railway Institute, Yaba, Lagos.

    At a reception organised in their honour and investiture of new executives of the council and formal presentation of skills acquisition scholarships to  students, the chairman of the council in Lagos, Mr Bob Igoni, said it takes a lot to see the graduating students pass out of the institute to enable them have something doing with their time and talents.

    Joseph Evah, a human rights activist, said all the promises made by the Sani Abacha government when Bayelsa was created were not fulfilled, not even by former President Goodluck Jonathan, who is an indigene of the state.

    “There is need to accomplish the dualisation of the East/West Road to the Mid-West; the only route that links other parts of the country and create more road for the coastal areas for the whole region of the Niger Delta; and to address issues of marginalisation of indigenes of the state at federal level for employment.”

    The group urged the Muhammadu Buhari government to address these issues.

    A former president of the council, Mrs Daba Obioha, said the society has existed long enough to begin to care for certain needs of the youths so that they can work hard to keep the flag flying.

    A fellow at the Nigerian Institute of International Affairs, Lagos,  Prof Charles Dokubo, advised President Buhari to strive hard to bring Nigeria to its past glory, adding that Nigerians are going through hard times.

    “ I haven’t seen this type since I was born. Everything everywhere is crumbling due to economic hardship”, he said.

    Mrs Timebi Koripamo Agary said the railway work force was reduced drastically to enable the corporation pay salaries of workers as at when due.

  • Ganduje steps up infrastructure

    Dwindling federal allocations have not deterred Kano State Governor Abdullahi Ganduje from tackling the state’s infrastructure challenges. KOLADE ADEYEMI reports

    Like everywhere else, federal allocation cash is dwindling in Kano State. But that is no excuse for the state governor Abdullahi Ganduje.

    With a burning desire not to disappoint his people, Ganduje who inherited a whopping N400 billion liability from his predecessor, Senator Rabi’u Kwankwaso, hit the ground running. He immediately revolutionised the agricultural sector, set the wheels of trade and commerce rolling, just as he engaged in massive infrastructural development.

    Governor Ganduje also reorganised and reformed the Kano State Board of Internal Revenue. Having shown the people the benefits of re-investing their money collected as tax and levies, there is no gainsaying the fact that Ganduje has gradually re-established the need for people in the state to pay their taxes. This he has also done, by within a shortest period of time, flagging off gigantic projects, being sponsored totally with the taxpayers’ money.

    Speaking to The Nation on some of these projects, the state Commissioner for Information, Malam Muhammad Garba said: “We have quite a number of them. There is construction of under-pass at Katsina/Kofar Ruwa Junction which is notorious for congestion, traffic hold-up, environmental, noise pollution and other traffic-related problems. The total cost of construction of this project is put at N1.2 billion. You have been in Kano for many years, and you can agree with me that these roads are very important. I am sure you have observed the hold-ups that are experienced there, especially, in the morning and in the evenings, after the close of work. I must emphasise that the cost of work on this very particular project comprises the construction of under-pass, including retaining-walls, drainages, slip-roads, lathrite-filling, soft-base, base-course, and then asphatic-wearing course. I must also tell you that this N1.2 billion set aside for this project is from the Internally Generated Revenue (IGR) that was accrued since the Board of Internally Generated Revenue was reformed and reconstituted by Dr. Abdullahi Umar Ganduje’s administration. And it is tagged ‘the tax-payers’ project.’

    “Then, there is also award of contract of another intervention that has been made through the provision of flyover at the same junction connecting Katsina/Kofar Ruwa/Kabuga Road; which have also been notorious for the same traffic congestion, as I have mentioned above. Actually, the construction of this very particular fly-over is basically approved for the engineering design; and the total amount that is approved for the engineering design of this fly-over is N9, 589, 580—this work is for the engineering design. The scope of work comprises construction of two-span fly-over, consisting of filling, pipe-gap, among others. This design work is expected to be completed within a period of 10 months. This is also tagged ‘the tax-payers project.’

    “Again, the continuation of the construction of Gwarzo/Tsaure/Tsanyawa road has also been approved. Let me remind you that the contract for this project was awarded on the 21 September, 2010 at the total cost of N4.126 billion—this was in 2010. I have to tell you that 50 per cent payment was made then; but unfortunately, the project was abandoned for the past six years and the scope of work achieved about below 10 per cent. However, because of the importance of this road, Dr. Abdullahi Umar Ganduje administration decided to mobilise the contractor by approval the payment of 10 per cent advance payment, equivalent to N206, 329 million as stated in the certificate that has earlier been approved. You must also be aware that the continuation of this project will be done from the IGR.”

    Garba insisted that the Ganduje administration was making waves in IGR, saying, “For us in Kano State, our projection for 2016 budget, when we had our retreat was to generate from N4 billion to N10 billion monthly. However, you know that because of the attitude of our people, we have embarked on a series of sensitisation exercise to educate our people on the importance of paying their taxes.

    “When we came in, what we met on ground in respect of IGR by the immediate-past administration was between N650 to N700 million per month; but were have been able to increase it gradually to about N1.5 billion. This is as a result of the re-organisation of the Kano state Board of Internal Revenue.

    “You know, we invited quite a number of professional experts and consultants on taxation—you know that is what is happening in other developed countries; and in Nigeria, Lagos, in particular, have been using this formula, because Lagos is one state that has achieved so much in Internally Generated Revenue. So, as you are aware, we reconstituted the board, and the Board of Internally Generated Revenue is now independent as part of the reform. These guys are now generating between N2.2 to N2.5 billion per month; and every month, we are seeing an increment in millions of Naira. We have not yet achieved our projection for the 2016 budget; but gradually, we are reaching the target. “

    Speaking further, he said, “With these projects being embarked upon across the state which are going to be visible for everyone to see—which are the tax payers projects, I can tell you that very soon, our IGR might even surpass our expectations. For one reason, the people will see where their money is going to and we may not need to start beating drums for them to pay their taxes. You are aware that Governor Abdullahi Umar Ganduje’s administration is people-oriented. All our policies are based on the contract we signed with the people and residents of Kano state when we came in on May 29, 2015.  So, I can assure you that in the nearest future, we will use money generated from IGR to form the entire annual budget. We want to run a self-reliant and transparent budget, with little or no input from the Federal Allocation,” he concluded.

     

  • Udoma: Nigeria requires $3tr to fund infrastructure projects

    About $3.05 trillion will be required over the next 30 years to implement the National Integrated Infrastructure Master Plan (NIIMP), the Minister of Budget and National Planning, Senator Udoma Udo Udoma said in Abuja at the weekend.

    Under the plan, which will be executed in collaboration with federal and state governments and the private sector, the public sector will handle 52 per cent of the project, the private sector will underwrite the balance in the first five years.

    The minister, who  spoke while receiving the report of a Pre-Summit Workshop from the Infrastructure Private-Public Partnership Summit Group (PPPSG), described the NIIMP as a blueprint for accelerated infrastructure development in the next 30 years (2014 -2043), adding that it seeks to raise the stock of infrastructure from 20 to 25 per cent of the gross domestic product (GDP) to at least 70 per cent by 2043.

    The PPP SG is charged with charting a course for the PPP funding in some critical sectors as well as establish a private sector-led Community of Practice to work with the government on the implementation of infrastructure roadmaps.

    Investments in the NIIMP are geared towards meeting infrastructure requirements of the major sectors of the economy including  energy, transport, ICT, agriculture, water and mining, housing, social infrastructure, security and vital registration.

    The Minister explained that apart from being a robust framework for infrastructure development, the NIIMP will also serve as investors’ guide, enhance economic growth and create job opportunities among other benefits.

    The plan outlines a financing plan for the public sector component of the investment requirement with four major options – public budgets, loans, pension funds and sovereign wealth fund as well as public- private partnership (PPP)

    He reiterated the importance of infrastructure in turning the economy of the country around and pointed out that in his resolve to revamp the economy, President Muhammadu Buhari is determined to attract as much private sector investment as possible to enable a quick turnaround.

    Chairman of the PPP Summit Group, A. B. Mahmoud, since it would be impossible for the government to bridge the infrastructure gap within a short time, it becomes necessary for collaboration with the private sector to achieve the objective.

    He however said the private sector will only get involved in the execution of projects if the plans are well-laid out and attractive; which is why the group is out to chart a course for the PPP funding to ensure the successful implementation of infrastructure roadmaps.

  • Just like us Ghana improves on ‘stomach infrastructure’

    In more than one way, Ghana is showing Nigeria superiority. In chronological age, the country once addressed as “Gold Coast” already comes first: she got her independence in 1957, three solid years ahead of Nigeria (1960).

    It is only in upending democracy that she was slightly overtaken by her Anglophone neighbour: military putschists struck in Accra a month (February 24, 1966) after the “5 Majors” rumbled in Lagos (January 15).

    In contemporary terms, while it is true Nigeria discovered oil first, Ghana, a newcomer in the sector, is fast evincing more gumption.

    Despite its manifest innumerable benefits, the Petroleum Industry Bill (PIB) is yet to be passed into law in Nigeria as our political actors continue to put personal/sectional interests before country.

    But without much ado, the Ghanaian congress took a bi-partisan route and turned PIB to law few days ago.

    Now, Ghana has transited to the realm of creativity. Since All Progressives Party (APC) was shellacked in the governorship polls in Ekiti State in 2014, Peoples Democratic Party (PDP) has often gloated one magic formula – “stomach infrastructure” – did it. Claiming to understand the psychology of politics better than the competition, PDP postulates that physical offer of a “congo” (measure) of rice, salt and “wedging” that cocktail with token cash on election eve is far more irresistible to most voters than the catalogue of infrastructural projects delivered for public use. Since it worked in Ekiti, PDP was then quick at laying claims to the patent right of “stomach infrastructure”.

    But, as usual, Ghana has exposed the structural inadequacies of that Nigerian creation by simply proceeding to stretch “stomach infrastructure” to its culinary limits. With campaigns revving up ahead of their forthcoming presidential elections, members of the National Democratic Congress, the ruling party in Ghana, have been bringing the unusual to rallies: jollof rice massed cooked in massive pots. Those interested were encouraged to help themselves to the feast as campaign “starters”.

    At a recent rally, a foot-soldier of NDC was seen squabbling with a serving female minister during a session of jollof rice (as pictured).

    The message should however not be lost: if they serve raw foodstuff in Nigeria, in Ghana value is already added to the condiment before offer is made to the people.

  • Infrastructure key to GDP growth, says BoI

    Infrastructure key to GDP growth, says BoI

    The Bank of Industry (BoI) has said an improvement in infrastructure across the country is capable of leading to double digit growth in the country’s gross domestic product (GDP).

    Its acting Managing Director, Mr. Waheed Olagunju, said if the country could record a GDP per capita income of $233.5  with less than 4,000 megawatts (Mw) of electricity, when power supply is improved to about 20,000 Mw, the GDP would hit double digit GDP.

    “It is possible and doable for our GDP to grow at double digits, because in the first half of this decade, Nigeria was among the 10 fastest growing economies in the world with a GDP growing at between five and seven per cent per annum, when the economy was driven by less than 4,000Mw of electricity,” he said.

    Speaking in Lagos during members’ evening with the Institute of Directors (IoD) Nigeria, he said in the 70s, indices clearly showed that Nigeria was ahead of China, saying GDP per capita then stood at $233.5 while China’s was $111.82. He said China is currently ranked second in the world.

    “We were ranked 88th in the world while China was 114th and by 2014, over a period of 40 years, China had overtaken Nigeria. Nigeria is blessed with so many natural resources, but have continued to depend on only one product over the years,” he said.

    He added that the country has everything required to become a great, stating that in the last 56 years, the nation has underperformed while other countries with less resources have done much better because they placed priority on industrialising their economies.

    According to him, Nigeria  has found itself where it was some years ago in 1986 when the Structural Adjustment Programme (SAP) was launched. According to him, Nigeria has been talking about diversification adding that the shocks experienced back in the years is what the nation is currently experiencing.

    “It shows that as a country we have learnt nothing over 30 years and this is why we are suffering from, but I believe we are now poised to make a change,” he said.

    He said if Nigeria can increase its electricity supply to about 20,000Mw per annum, the nation’s GDP will grow at double digits.

    He said the country is still faced with infrastructural challenges and cannot industrialise without an adequate power supply and infrastructural facilities. Olagunju pointed out that businesses spend up to 40 per cent of their operating expenses on alternative power supply to run their businesses.

    He said the mission of the Development Finance Institution (DFI) is to transform the nation’s industrial sector by providing suitable financial services to finance Nigeria’s industrialisation, saying the country should leverage areas where it has comparative advantages to drive its industrialisation efforts.

    He added that Nigeria has no business importing food to feed itself, pointing out that if Nigeria adds value to its natural resources, it should be able to feed Africa and even beyond.

    “We currently import food and one of the parameters for measuring the growth of a country is the extent to which the country is self reliant, but where we are externally dependent to feed ourselves, this means we are very vulnerable,” he said.

    Also speaking at the event, the president and Chairman,  Governing Council, Mr. Samuel Akeju, said the DFI represents the real acting agents of industrialising Nigeria, saying that BoI has continued to reflect the change needed to revolutionise the industrial sector of the economy.

    He said industrialisation is vital to achieve economic growth, adding that the institute identifies with the present administration’s renewed efforts to develop the non-oil sector of the economy through its different initiatives.

  • Kwara to launch N4.2b infrastructure fund

    The Kwara State Government is set to launch its Infrastructure Development Fund ‘InfraFund Kwara’ (IF-K) in the energy sector in the fourth quarter of 2016 with an initial investment of N4.2 billion.

    Governor Abdulfatah Ahmed revealed this during an interaction with community leaders in his office last Friday. He said IF-K has been codified into the Kwara State Public Private Partnership Law, which he assented to in 2015.

    According to him the IF-K project is a result of the Kwara Infrastructure Investment and Finance strategy, which he approved following an infrastructure assessment that was done in 2014.

    He said the outcome of the assessment showed an estimated N225 billion deficit value of infrastructure across the 16 councils and spanning all sectors, which required both government and private investment, in order to boost the state’s productivity and wealth creation.

    The governor added that the main objectives of IF-K is to provide a guided, systemic and outward facing framework for continuous and consistent infrastructure development, optimally leverage private sector or resources for infrastructure development and maximize the state’s resource allocation policies.