Tag: Nigeria

  • Nigeria hits AFCON final

    Nigeria hits AFCON final

    … routs Mali 4-1

    Super Eagles of Nigeria on Wednesday qualified for the final of the ongoing African Nations Cup in South Africa.

    The team defeated the Eagles of Mali 4-1 in the first semi final played at the Moses Mabhida Stadium in Durban.

    Elderson Echiejile opened the floodgate with a perfectly timed header from Victor Moses pull out in the 25th minute.

    Brown Ideye doubled the lead in the 29th minute, taking advantage of a long ball from Emmanuel Emenike to leave the Malian goalkeeper Samassa Mamadou and his defenders stranded.

    The third goal arrived in the 44th minute through Emmanuel Emenike whose low shot from a free kick took a slight deflection off a Malian defender and rested at the back of the net.

    The strike brought Emenike’s tally in the tournament to four.

    Substitute Ahmed Musa added the fourth goal in the 60th minute, while the Malians pulled a goal back through Cheick Amadi Diarra in the 74th minute.

     

  • UNILAG shines at 50

    UNILAG shines at 50

    Accolades won by the university are well deserved, but there is room for improvement

    his year’s convocation of the University of Lagos is, in a way, the climax of the celebration of the institution’s 50th anniversary that started last year. Indeed, for the university, there is cause to celebrate its unique place among higher institutions in the country. It was the first federal university established after independence. The older university established in Ibadan in 1948 was, at the time, a college of the University of London.

    The establishment of universities in Ile-Ife, Zaria, Nsukka and Lagos brightened the hope of Nigerians that the post-colonial years would boost development in the country. Of the four, the Ahmadu Bello University, Zaria, University of Ife and the University of Nigeria, Nsukka, were established by the Northern, Western and Eastern regional governments. Only the University of Lagos was funded from the federal purse, as a symbol of nationhood and meant to cement the unity expected to come with the 1960 independence.

    Following the recommendations of the Ashby Commission set up in 1959, it was recommended that a university be established in Lagos “to offer day and evening courses in Commerce, Business Administration, Economics and Higher Management Studies.” The commission equally recommended that the university could be non-residential. However, a UNESCO Advisory Commission set up a year later advised against making the university non-residential. Rather, it called on the Federal Government to make the university complete and all-encompassing.

    Consequently, the University of Lagos, fully residential and autonomous, came into being on October 22, 1962, with Professor Eni Njoku as the first vice-chancellor. It was a dream come true and it provided a rare opportunity of providing quality higher education for all Nigerians.

    The late vice-chancellor of the university, Professor Adetokunbo Shofoluwe, at a pre-celebration world press conference on May 8, last year, captured its objectives: “From my vantage point, the future looks beautiful, full of promise and myriads of opportunities. I see a future of outstanding excellence in the quality of staff and of course as a consequence, of students. I see a future of trail-blazing collaboration between the academia of this university and the budding industry in Nigeria … I see UNILAG joining the league of the best 100 universities in the world.” That represented the resolve of the university community when it turned 50 last year.

    In recent times, the university has won laurels and awards. Recently, it topped the list of the best doctoral theses produced by Nigerian universities. The result of the exercise carried out by the Nigerian Universities Doctoral Theses Awards Scheme ((NUDTAS) adjudged four of the doctoral candidates presented by the university as the best. In 2010, the National Centre for Energy Efficiency and Conservation was established as a testament to its standing as a great centre for science research. In the same year, the last accreditation visit to the university by the National Universities Commission approved all courses run by the departments, faculties, schools, colleges and centres of the institution.

    The steady progress made by the university was made possible by the minimal disruption of the academic calendar by industrial disputes and students’ protests. This is an attestation to the maturity of the management and a budding culture of peace on the campus.

    The support drawn from firms, wealthy individuals and institutions is second to none in the country. Last year, the university’s Office of Advancement acknowledged 179 such partners.

    We salute the university for its steady progress and contributions to national development. We identify with its resolve to make its mark among the best centres of academic excellence in the world and urge its management to remain faithful to the goal set by successive leaders of the institution. This has already resulted in UNILAG being the university of first choice for young Nigerians who seek admission every year.

    We hope that, by the time the university would be celebrating its diamond jubilee in 2022, it would have improved upon its ranking, not only in Africa, but globally.

     

  • Nigeria, Cameroon  raise security committee

    Nigeria, Cameroon raise security committee

    NIGERIA and Cameroun moved yesterday to prevent the influx of terrorists from troubled Mali and other parts of the sub-region. They set up a joint Trans-border Security Committee.

    Inaugurating the committee in Abuja, Foreign Affairs Minister Ambassador Olugbenga Ashiru said the agreement had been signed with Cameroonian vice prime minister since February 28, last year.

    According to him, the recent reports of terrorist incidents in some border villages with Cameroon have further underscored the urgency to inaugurate the National Committee to pave the way for an early meeting of its members with their Cameroonian counterparts towards an earnest and effective implementation of the agreement.

    Ashiru urged the committee members to bring their expertise to achieve the noble aims and objectives of the agreement.

    He said: “This event is holding at a crucial period of renewed international fight against trans-border crimes; including the on-going war in Mali; to get rid of the terrorist groups; their networks and heinous activities.

    “Your committee has an important role to play in the efforts to curb the wave of trans-border crimes and safeguard lives and properties on our common borders with Cameroon.

    “In line with its mandate, the Trans-Border Security Committee is to develop practicable strategies and measures to strengthen cooperation on security between the two countries on their common borders.

    “This includes new and additional measures to address the challenges of terrorism, trans-border trafficking in small arms and light weapons and influx of illegal immigrants.”

    Urging the Nigeria members of the committee to take the assignment seriously, Ashiru said: “I cannot over-emphasize that as representatives of Nigeria, you must always be guided by our national interests in your deliberations, considering the link with our national peace, security and development.”

  • Nigeria, Indonesia trade volume hits $2b

    Nigeria, Indonesia trade volume hits $2b

    The trade volume between Nigeria and Indonesia stands at $2billion, the Indonesia Minister of Trade, Gita Wirjamwan, has said.

    Wirjamwan made this known during the Nigeria –Indonesia Bilateral Trade Meeting and Business Luncheon in Abuja. He assured that a preferential trade agreement between Nigeria and Indonesia would soon be concluded as part of efforts to increase trade and investment between the two countries.

    The Minister of Trade and Investment, Olusegun Aganga also assured that both countries would work to double the trade volume by 2015.

    He said: “Both countries will come up with strategic and implementable action plans where they can leverage the cordial bilateral trade relationship to boost trade and increase Foreign Direct Investment.”

    “It is good to have country-to country discussions and Bilateral Agreements but at the end of the day, most of these things come down to the people and how they put discussions and agreements into action.

    “The Indonesian Minister of Trade and I have agreed that our technical teams will come together and put together a strategic plan for Nigeria and Indonesian which we will implement going forward.

    “In terms of trade, we have already set targets for ourselves in terms of where we want to be and what we want to achieve. One of our major objectives is to double the bilateral trade between the two countries by 2015, particularly, when we have met and had bilateral discussions and agreements. We will work together to make sure that this happens.

    “I see this meeting as symbiotic relationship between the two countries. Indonesia is about a trillion dollar economy. They have some similarities with Nigerian in terms of natural resources in agro- commodities and oil and gas. One of the  major decisions taken by the Indonesian Trade Minister and I is that we will create a vehicle that will make it easier for the private sector of both countries to flourish and co-invest in the different sectors of the economy.

    “In line with our Industrial Revolution Plan, one of the things that we want to do in terms of growing the value chain, is to identify areas where we have competitive and comparative advantage so that we can attract more investment into these areas in order to create jobs, generate wealth and transform our economy”.

    Wirjawan said Nigeria has been recognised globally as the biggest market for Foreign Direct Investment in Africa. This is very important for us, especially giving the huge human and natural resource base in Nigeria. There are over 15 Indonesian companies currently operating and doing well in Nigeria.

  • Nigeria, Indonesia sign pact on airlines, aircraft maintenance

    Nigeria, Indonesia sign pact on airlines, aircraft maintenance

    Nigeria and Indonesia on Sunday signed multi-billion naira long-term agreements on airlines and aircraft maintenance.

    This is coming as the bilateral trade volume between the countries hits $2.2 billion.

    The News Agency of Nigeria reports that the agreement and contracts are between GMF Aeroasia, Indonesia with its Nigerian counterparts, including Kabo Air, Silverback Africa, Hak Air, Max Air and Service Air Limited.

    Other trade agreements were between the Nigerian Chamber of Commerce, Industry, Mines and Agriculture, (NACCIMA) and the Indonesian Chamber of Commerce and Industry.

    The Minister of Trade and Investment, Mr. Olusegun Aganga, in his remarks, said the agreement would strengthen trade and investment relations between the two countries.

    The minister also sought the cooperation of Indonesian in the area of power, infrastructure, agriculture, ICT and banking.

    He said Nigeria, with a population of over 160 million people, was blessed with human, minerals resources and a market advantage because of its strategic location in Africa.

    He said that Nigeria had a strong industrial base and efficient services sector.

    He said the trade volume between the countries was over two billion dollars, adding that the countries would work together to double the trade volume by 2015.

    The Indonesian Minister of Trade, Mr. Gita Wirjawan, promised Indonesia’s readiness to partner with Nigeria in the key sectors of the Nigerian economy.

    Wirjawan stressed the need for the Nigerian Government to move up its value chain, especially in the agricultural sector.

     

  • ‘Nigeria loses 50% of its fuel to diversion’

    ‘Nigeria loses 50% of its fuel to diversion’

    Despite its dependence on imported fuel to meet local consumption, about 50 percent of Nigeria’s petroleum products are diverted by dishonest marketers and transporters to the neighbouring countries, it was learnt.

    Investigation by The Nation showed that the development had been responsible for the recurring shortage of petroleum products, especially premium motor spirit (petrol) and the resultant scarcity experienced.

    Scarcity of fuel, which lingered for very long time towards the end of last year, particularly in Lagos and Abuja despite the efforts of the Nigerian National Petroleum Corporation (NNPC), led to discovery of how the fuel meant for consumption in-country was diverted to the neighbouring countries.

    A top official of the NNPC said at the peak of the fuel scarcity last year, the corporation was concerned because there was no reason for the scarcity. The official said although it was attributed mainly to the vandalised System 2B pipeline at Arepo axis in the Obafemi/Owode Local Government Area of Ogun State, which is a key distribution facility, the corporation knew well it was supposed to have sufficient reserves. It was for this reason that the corporation carried out an internal investigation and found out that the products were diverted.

    The official said the corporation, therefore, adopted a concept tagged ‘tracking.’ The initiative ensured that all petrol imports made were monitored very closely and tracked to the point of consumption, which resulted in amazing revelation that about 50 per cent of the country’s PMS was diverted.

    The official said: “It might amaze you that about 50 percent of our fuel was diverted. You also might have observed that before Christmas and through the festive periods until now, there has not been a report of scarcity. It was no magic and we didn’t increase the volume of the imports we used to make in the past, yet retail outlets have been wet with products. It is the result of the tracking policy that we adopted.

    “In addition, the NNPC is still the sole importer of fuel as marketers have backed out since the beginning of last year. Don’t mind any marketer who tells you that he imports fuel. The truth is that NNPC imports and give them (marketers) to ensure even distribution.

    “Since we introduced the tracking strategy, it has plugged most of the leakages and the corporation sustained its import volume, which has ensured uninterrupted supply of fuel for Nigerians.”

    Oil marketers had, after the aborted downstream sector deregulation in January, last year, which shot pump price of PMS from N65 a litre to N97, stopped further importation on the grounds that the Federal Government owed them over N200billion in arrears of unpaid subsidy refund.

    Although the government has begun to pay the debts gradually, it is done under tight control, which ensures that only genuine marketers are paid claims for refund of subsidy.

    Nigeria depends on imported fuel, which is complemented by unsubstantial percentage, refined in-country by the almost dysfunctional refineries.

     

  • Banks mull funding strategy for power projects

    Banks mull funding strategy for power projects

    Nigerian banks have started a collaboration to develop amenable financing framework that would serve as financial industry’s master template for lending and funding of the power sector.

    The strategic funding plan is being developed under the auspices of the Bankers’ Committee with active participation of top management of banks, the Central Bank of Nigeria (CBN) and other key stakeholders.

    The funding strategy is a linchpin in the Bankers’ Committee’s programme for the year, which largely focused on aligning the Nigerian banking system to provide adequate financing to meet the peculiarities of the power sector.

    Banks’ chief executives, Governor and top officials of the CBN and several experts had brainstormed extensively on the power sector at the recently concluded 4th annual retreat of the Bankers’ Committee.

    Sources in the know said the development of an industry-wide funding strategy was part of the outcomes of the discussions at the retreat.

    It was gathered that the funding strategy will provide the banking industry with a master agreement or template that would foster best practices, remove inconsistency, ease access to funding and encourage regulator-operator understanding as banks move into the still-evolving power sector.

    A bank may adapt the funding strategy to suit its internal structure and terms, but the template would provide guidelines, structures, terms and concepts, among others for the industry.

    The CBN would sign on the banking industry funding strategy for power sector, which would give the template a quasi-regulatory status.

    Banks are also expected to consider input of key non-bank stakeholders such as the Bureau of Public Enterprises (BPE), Nigerian National Petroleum Corporation (NNPC), Ministry of Power, Energy Commission of Nigeria (Encon) and NBET among others in the overall draft of the funding strategy to give the plan a higher level of general acceptance beyond the banking industry.

    The funding strategy will enable banks to provide well-structured finances to support investments in gas transmission pipelines, upstream gas developments, Liquified Natural Gas (LNG) and Liquified Petroleum Gas (LPG) plants, gas processing facilities, key infrastructure, port, real estate, pipe milling and fabrication yards and gas supply and gas transportation infrastructure among other.

    Besides, banks are required to reinforce their energy desk to build capacity for power project financing while the Bankers’ Committee would continuously provide supports for advocacy and programmes that centre on the power sector transformation.

    Chairman, Economic Development and Sustainability of the Bankers’ Committee/Managing Director, Access Bank Plc, Mr Aigboje Aig-Imoukhuede, said banks are aware that the growth, prosperity and national security of Nigeria depend on the success of the power sector transformation.

    According to him, the Bankers’ Committee would continue to collaborate with the government and other stakeholders to create and sustain enabling environment for private sector funding of the required investments in the power sector.

    He noted the potential impact of stable and adequate power supply on the national economy pointing out inadequate power supply has been the bane of the underdevelopment and non-competitiveness of the manufacturing sector.

    He reiterated the commitments of banks to continuously explore ways of providing adequate and suitable finances to the three key sectors of power, agriculture and transportation adding that the Bankers’ Committee’s focus on these sectors was borne out of the deep appreciation of the critical importance of the sectors as catalysts for the growth and development of the economy.

     

  • Nigeria hits AFCON semi finals

    Nigeria hits AFCON semi finals

    …Pips Cote d’Ivoire 2-1

    Super Eagles of Nigeria on Sunday defeated tournament favourites Cote d’ Ivoire 2-1 in the quarter final match of the ongoing African Cup of Nations in South Africa.

    One goal in each sent the Ivoirians, widely tipped to win the tournament packing.

    The Nigerians clearly the underdogs in this match took the game to the Elephants from the blast of the whistle and deservedly took the lead in the 41st minute through Emmanuel Emenike whose unstoppable shot from the edge of the eighteen yard box flew past Boubakar Bary in goal for the Ivoirians.

    The Elephants came out smoking in the second half in search of the equalizer which duly arrived in the 55th minute through Cheik Tiote who took advantage of a mix-up in the Nigerian defence to power a header past Vincent Enyeama.

    With score standing at 1-1 the two teams went out in search of the winning goal and Enyeama’s superb double saves prevented the Ivoirians from going in front in the 73rd minute.

    Nigeria went ahead in the 76th minute through Sunday Mba who struck an unstoppable volley past Bary.

    From then it was a ding-dong affair and the Nigerians held on to secure a famous victory over the much heralded Didier Drogba- led Ivoirians.

    Nigeria will meet Mali in one of the semi final matches on Wednesday.

     

     

     

     

  • 18 Nigerians face execution in Indonesia tomorrow

    18 Nigerians face execution in Indonesia tomorrow

    Eighteen Nigerians have a date with the executioner tomorrow in the Asian state of Indonesia, except President Susilo Bambang Yudhoyono, who is currently on a visit to Nigeria, intervenes.

    President Goodluck Jonathan yesterday pleaded with his Indonesian counterpart to stop the execution of the Nigerians who were convicted for drug-related offenses.

    He was yet to give any commitment before the two leaders went for a state dinner last night in Abuja.

    Apart from the 18, 30 other Nigerians are on the death row in that country for drug trafficking.

    Jonathan, who made the plea during a bilateral discussion with the Indonesian President in Abuja, demanded a bilateral tie on exchange of prisoners by both countries.

    The Special Adviser to the President on Media and Publicity, Dr. Reuben Abati, in a tweet last night said his principal was concerned about the planned execution.

    Abati said: “President Jonathan requested for a stay of execution of Nigerians on death row in Indonesia while both explore agreement on exchange of prisoners.

    “Both leaders agreed to support each other also on the basis of reciprocity for non-permanent membership of the UN Security Council for the period 2014/2015-2016.

    “They discussed re-election of Kanayo Nwanze of IFAD and candidature of Mari Pangestu for DG WTO and agreed to support each other’s candidate.

    “The presidents pledged to work together towards attaining a more balanced and mutually beneficial relationship between Nigeria and Indonesia. The two presidents agreed that Nigeria and Indonesia will share best practices and capacity building in the achievement of MDGs.”

    A source said: “The Indonesian leader has not made any commitment on Jonathan’s plea because of his country’s strict laws on drug trafficking.

    “We are hopeful that the execution will not hold on Monday. We do not know if there will be any waiver eventually.”

    According to the News Agency of Nigeria (NAN), the visiting President was accompanied by 99 Indonesian businessmen. On arrival, Yudhoyono inspected a guard of honour mounted by the Brigade of Guards, and also a 21 gun-salute in his honour.

    The FCT Minister, Bala Mohammed, said that the two-day visit of the Indonesian President would strengthen the bilateral relations existing between the two countries.

    After their bilateral discussions, President Jonathan pointed out the importance of the conference and the visit, stressing that it has become evident that most countries might not be able to meet up with the Millennium Development Goals (MDGs).

    He said: “We discussed areas that we can work together, like food, agriculture, energy, politics and security, particularly, in international peace keeping operations.”

    Both leaders also agreed to promote training cooperation involving military officers of both countries by encouraging participation of Indonesian and Nigerian military officers in training programmes at the staff colleges of both countries.

    The two leaders discussed the conflicts in Guinea-Bissau, Mali, and the Sahel, and the correlation between these and the war on terror. They shared the view that terrorism remains a global security threat. They, therefore, agreed to foster closer bilateral partnership to address this threat by cooperating closely in exchange of information, training and education as well as sharing of best practices. The two leaders instructed the relevant agencies of both countries to assess counter-terrorism needs upon which bilateral collaboration would be appropriately developed.

  • Over 40% Nigerians are hungry, says expert

    Efforts by successive governments at addressing food security in the country are yet to provide the desired result as over 40 percent of Nigerians do not have sufficient food on daily bases, a University teacher, Professor Babatope Alabadan, has disclosed.

    He also said that globally, over 800 million people, including 300 million children, go to bed hungry daily due to food insecurity.

    Alabadan who made these assertions yesterday while delivering the 25th inaugural lecture of the Federal University of Technology, Minna, titled, ”Housing and Food Security: Now and in the Future- Lessons from the Termites”, said  the three tiers of government in the country must go beyond paying lip service to food security by ensuring that the people have physcial, economic and social access to food, if Vision 20:2020 is to be accomplished.

    The professor of agricultural engineering blamed the food shortages in the country on huge food losses due to inadequate storage facilities, a development which he said has continued to affect the country’s economy and possess a threat to her national security.

    To this end he said the three tiers of government in the country should embark on mass construction of capacity Silos, especially for small scale farmers in order to reduce food losses and increase local supplies.

    He lamented that despite the favorable natural condition for food production in the country, food is still being imported into the country to meet up demand because of huge food losses at the expense of the economy of the country.

    Enumerating the dangers of food losses to the nation and the world at large, Alabadan stressed that food losses represent a significant cost to the economy and greatly impacts on the nation’s ability to feed the world, emphasizing that losses affect food quality and safety, economic development and the environment.

    He then urged the federal government to establish agricultural estates and farmsteads in every state and local governments pointing out that in addition to increasing food production, it will create jobs and reduce poverty which will be in line with the attainment of the transformation agenda and Millennium Development Goals (MDGs).