The Nation Newspaper

Tag: Nigeria

  • BBNaija: Seyi becomes Head of House again

    Seyi Awolowo has become the Head of house in the ongoing BBNaija season four.

    News Agency of Nigeria (NAN) reports that this Seyi’s third Head of House win since the show started on June 30.

    He clinched the title after winning the fiercely contested challenge on Monday, securing a spot in the final week.

    The Challenge which was in two rounds, saw all the Housemates vying for the coveted position of HoH, but only one person could clinch it.

    The first round of the challenge involved the Housemates walking continuously across the Arena from the starting line to the finish line and back again until they heard the buzzer to stop.

    This exercise lasted for seven minutes before the buzzer went off. In the end, Elozonam, Seyi, Cindy Tacha and Omashola qualified for the next round.

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    The Housemates had a minute to complete the next challenge. They had to count the chin-chin into a bucket and write out the total number of the Chin-Chin in the bucket.

    NAN reports that the Housemate with the number closest to the total was awarded the title Head of House.

    Seyi said the total of the Chin-Chin in the bucket was 4,750 while the actual number was 3090 making him the one with the closest correct estimate

    Apart from immunity, Seyi was given 250 Bet9ja coins, bonus coins for his Team and the Head of House Bedroom privileges which he refused to share with anyone.

  • Two medical doctors in trouble over death of pregnant woman

    Two doctors with Federal Medical Centre, Asaba, have appeared before the Medical and Dental Council of Nigeria Tribunal, to answer charges of gross professional negligence.

    The doctors, Iyiola Adewale and Adigba Onodjohwoyovwe, are accused of gross professional negligence which led to the death of a patient in their care.

    The prosecuting counsel, Mr Nasiru Aliyu, told the tribunal on Monday in Asaba that the defendants while on duty on March 7, 2017, negligently handled one of their patients, a pregnant woman, Mrs Rita Uchebuego, now late.

    According to the prosecutor, they allegedly failed to attend to her as appropriate for the management of her condition.

    Aliyu said the offence is punishable under section 16 of the Medical and Dental Practitioners Act.

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    However, the defendants pleaded not guilty to the charge.

    Chairman of the tribunal, Prof. Abba Hassan, adjourned the case till Sept. 24, for address.

    News Agency of Nigeria (NAN) reports that the tribunal was established for trial of offences under the medical and dental practitioners act.

    This is the tribunal’s third session in 2019, and had already convicted some doctors during its second session for professional misconduct.

  • Tecno offers varsity scholarship to students

    Africa’s preferred smartphone brand Tecno, has offered scholarships to university students in Nigeria.

    The technology firm extended the gesture to the students during the ACADAFEST, a concert put together by ScholarX and iManage, organisations, celebrities and members of the public to sponsor 20 deserving students through university.

    Tecno Nigeria, PR and Strategic Partnership Manager Jesse Oguntimehin, who spoke on the gesture, said  Tecno is sponsoring three of the 20 students for the duration of their university education to the tune of N400,000 each per student.

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    “At Tecno, we have carried out various social activities such as our Give the Nigerian Child A Future initiative- where we visited selected schools around the country to empower bright students, awarding them scholarships for their academic excellence. We also provided pupils within these schools educational materials to ease their learning journey. There was also the annual Light Up Your Dream competition where we rewarded two young Nigerian Entrepreneurs with N1million each to grow their businesses,” he said.

    He said this year, in line with its determination to impact positively on its consumers, Tecno  decided to collaborate with the oraganisers for the maiden edition of the ACADAFEST where it awarded three Nigerian students scholarships reiterating the commitment to the development of the Nigerian society.

  • $9.6b verdict: P&ID offers to negotiate with Fed Govt

    • Nigeria to pursue case ‘to logical conclusion’
    • Delegation to allay investors’ fears

    Owners of Irish firm, Process and Industrial Developments Ltd (P&ID), which got a $9.6billion judgment against Nigeria, have made offers for settlement.

    The offers came after a Federal High Court in Abuja wound up the firm and its Nigerian affiliate following their guilty plea to fraud and money laundering.

    The Federal Government received five negotiation offers from individuals close to the firm, it was learnt on Monday.

    One of those interested in negotiation is Adam Quinn, son of P&ID’s owner, the late Michael Quinn.

    Already, the government has initiated moves to get him repatriated to Nigeria to face trial.

    The government has, however, put the offers on hold pending the outcome of the case before a United Kingdom court on Thursday.

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    Attorney-General of the Federation Abubakar Malami (SAN), Inspector-General of Police Mohammed Adamu; and Economic and Financial Crimes Commission (EFCC) Acting Chairman Ibrahim Magu yesterday spent hours briefing foreign lawyers on forensic investigation of the controversial gas project.

    It was learnt that the team met with major UK media organisation to explain Nigeria’s position on the matter.

    The delegation is expected to hold a crucial session with investors tomorrow to allay fears of likely collapse of the nation’s economy as a result of the judgment.

    A source, who spoke in confidence with our correspondent, said: “Ahead of the legal battle on Thursday against P&ID, the Federal Government has received five offers from some individuals acting on behalf of the Irish firm for negotiation.

    “One of those seeking peaceful resolution of the row is Adam Quinn, who is a son to the late owner of P&ID. For security reasons, we want to keep other names under wraps.

    “The government has, however, decided to put these offers in abeyance, pending the outcome of Thursday’s sitting. We are not opposed to talks or negotiation, but, given a similar circumstance in the past, the government is a bit circumspect about any offer from the representatives/ associates of P&ID and other arbiters.

    “We want to pursue this case to its logical conclusion before we give any other option a thought.”

    Investigation confirmed that Malami, Adamu and Magu have spent quality time with the foreign lawyers engaged by the Federal Government.

    Another source added: “These three leaders on the delegation, who were saddled with the investigation of the gas contract awarded to P&ID, had considerable discussion with the offshore lawyers on their findings.

    “The report of the EFCC was presented to the foreign lawyers to underscore the fact that the gas contract was a scam. All the procedures, suspects’ statements, relevant documents and court judgments were made available to the offshore lawyers to strengthen Nigeria’s case.

    “We are building our case on the fraudulent contract, non-execution of any job and how the arbitration panel was misled into the award of the $9.6billion damages against the Federal Government.

    “We want the UK court to grant Nigeria’s request for a stay of execution of the judgment.”

    An official said: “Members of the delegation had audience with Reuters, AP, Financial Times, and other agencies. On Tuesday (today), the team will meet with BBC team to set the records straight that P&ID was just being smart in securing the $9.6billion award.

    “The impression out there in the international community was as if the nation defaulted or reneged on a contract when the entire process was invalid.

    “Part of the mandate of the delegation is to change the narrative that Nigeria violated contract terms with P&ID.”

    It was learnt that the delegation will hold a business session with investors in the UK on Wednesday.

    Malami confirmed some of the findings of The Nation on the activities of the delegation in London.

    He said: “It is simply that we met with our local and international legal teams in the High Commission office in London.

    “We took briefings from the teams in Nigeria and UK for the purpose of developing strategies targeted at setting aside the award.”

  • SON equips steel manufacturers for global competitiveness

    The Standards Organisation of Nigeria (SON) has equipped local steel producers for the global market.

    It said it is spearheading the harmonisation of standards within Africa and the West African sub-region, urging Nigerian steel producers to not only take advantage of the biggest market in Africa, but also the world over.

    Its Director-General, Osita Aboloma, at an emergency meeting with steel producers, said the meeting was basically to prepare operators of the organised steel sector on the need to adhere to quality for their goods to be acceptable within Nigeria and at the global market.

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    “If you adhere to standards in Nigeria, your goods will be accepted anywhere in the world because of the African Continental Free Trade Agreement (AfCFTA), Nigeria has signed. Almost all the African countries that have subscribed to the agreement will use the harmonised standards to achieve seamless trade activities and for breaking technical barriers to trade,” he said.

    According to him, the steel sector is one of the most formidable sectors where the nation has the competitive and comparative advantage to earn lots of foreign exchange, while also creating wealth and job opportunities.

    Speaking on the raids the agency embarked on to ensure sanity in the steel sector, he said they were part of its conformity assessment activities to make sure goods are produced to meet global best practices.

  • DisCos blame TCN for interruptions despite $1.6b

    Electricity Distribution Companies (DisCos) have flayed the Transmission Company of Nigeria (TCN) over its obsolete and collapse system that has caused inefficiencies and 5,311 interface disruptions in one DisCo in the first 18 days of this month.

    The Association of Nigerian Electricity Distributors (ANED), which represents 10 DisCos, except Yola DisCo said despite $1.6 billion multilateral funding of TCN, its equipment have caused over 100 electricity grid collapses since privatisation in 2013, and nine collapses this year.

    In a statement by ANED Executive Director, Research and Advocacy, Chief Sunday Oduntan, explained that it was responding to a recent TCN report that the DisCos misrepresented crucial power evacuation and distribution data.

    Read Also: DisCos to FG: Respect electricity contracts

    Presenting the facts, ANED said it owes obligation to the 10 DisCos who have invested about $1.4 billion in the networks, insisting that the DisCos had not rejected energy load as TCN claimed in its publication.

    ANED also accused TCN of falsifying data that conflicts the data presented to DisCos by the National Control Centre (NCC) which is under TCN and coordinate power allocation to DisCos.

    While TCN headquarter data published on September 20th, 2019, showed that 13,963megawatts (Mw) was delivered to DisCos between August 22nd and 24th of 2019, the NCC data actually showed it was 19,173Mw. ANED said indicated a conflicting difference of 5,208Mw data within the same company.

    “It raises questions as to the veracity and accuracy of TCN’s response, in terms of the energy that it delivered to the DisCos. How could TCN’s supposed sent-out or delivered energy exceed that recorded by its control centre, the singular source for such information,” ANED said.

    While urging TCN to focus on improving its network, the DisCos said except for February 1, 2016, when TCN wheeled 4,557Mw, it has never wheeled sufficient energy to meet the DisCo energy off-take assumptions specified under Multi Year Tariff Order (MYTO) 2015.

    ANED said the $1.6 billion Federal Government-guaranteed and multilateral funds and grants that TCN has got is unavailable to the privatised Generation Companies (GenCos) and DisCos.

    Despite TCN saying it is implementing its Transmission Rehabilitation Expansion Programme (TREP) with the $1.6billion, “the reality is otherwise.

    The Nigerian Electricity Supply Industry (NESI) continues to deal with, largely, a TCN that finds it difficult to move away from a PHCN-legacy of uncleared equipment containers, analogue-based and informal communications systems and frequent explosions and burnings of transmission sub-stations and transformers.”

    The DisCos said such substation fire recently put Agbor and Asaba towns of Delta State; and Oye, Ekiti State in blackout.

    “Over 100 partial and total system collapse recorded since privatisation and nine total system collapses so far this year; multiple transmission interface deficiencies with 5,311 TCN interface interruptions in one DisCo franchise area, from September 1 – 18, 2019.”

    Citing Siemens: Electrification Roadmap for Nigeria report of May 7, 2019, Oduntan said: “Today, power distribution by the DisCos to end-customers is limited by power infeed from TCN.

    “Rather than eliminate all of the bottlenecks of the transmission grid, TCN, vociferously and continuously, continues to crow about its computer simulated increase in capacity, ignoring the fact that it, currently, only averages a daily 3,700Mw of wheeled or transmitted energy to the DisCos, out of its tested transmission capacity of 5,500 Mw.”

    It also noted that TCN’s constant drumbeat of the need to re-capitalise the DisCos distracts from the fact that any such re-capitalisation cannot occur in an environment that lacks the following – respect for, or sanctity of contract; regulatory and policy certainty and consistency; ability of the sector operators to recover their costs of doing business; and an alignment of technical and commercial considerations.

  • World Bank, IFC agree to support Nigeria’s devt

    The World Bank Group and the International Finance Corporation (IFC), have promised to continue to support Nigeria in bridging its infrastructure gap.

    The two organisations gave the commitment in a statement issued by the World Bank’s Senior Communications Office in Nigeria on Monday in Abuja.

    The World Bank Vice President for Africa, Mr Hafez Ghanem, IFC Vice President for the Middle-East and Africa, Mr Sérgio Pimenta, and IFC Vice President for Economics and Private Sector Development, Mr Hans Lankes, were quoted to have discussed during a visit to Nigeria.

    The meeting discussed how the World Bank Group could help Nigeria leverage private and public investments and expertise for inclusive growth.

    Read Also: Slow growth, low investment’ll raise poverty, says World Bank

    According to Ghanem,  the bank can together with the private sector leverage government resources to bridge infrastructure gaps in Nigeria.

    “We have supported and seen success in transport, energy and power sectors using Public Private Partnerships (PPPs) models.

    “The Azura power project is an example of how we have attracted private sector investment in the power sector.

    “We are happy to work with the government of Nigeria on power sector reforms, which will create a better environment to attract more private sector financing,” Ghanem said.

    Pimenta said the financing needs of developing countries often surpassed their own budgets and available donor funding.

    He however, said that private sector resources and expertise could go a long way in bridging the gap.

    “In sub-Saharan Africa, we are increasingly seeing the private sector design sustainable business models that are creating jobs and lifting people out of poverty,” he said.

    According to the statement, the National Integrated Infrastructure Master Plan (NIIMP), Nigeria faces a $100 billion annual investment gap in infrastructure.

    It added that the new approach to mobilise development financing, was also presented during a workshop with key business leaders and policy makers.

    According to it, under this approach, the World Bank Group’s institutions will work together to mobilise a range of financing solutions (both private and public) for projects in developing countries.

    This, it said, would help expand funding options for low and middle-income countries and enable them to benefit from global best practices and expertise.

    Participants at the workshop discussed how to crowd in private sector financing to solve Nigeria’s infrastructure deficit; identified the reforms needed to support PPPs and developed an action plan to generate future PPPs.

    The statement highlighted the World bank’s portfolio in Nigeria to be $11 billion invested across all sectors, while IFC’s portfolio stood at over $1billion in sectors including manufacturing, financial services and infrastructure.

    The World Bank Group delegation also met with senior government officials including Vice President, Yemi Osinbajo, the Minister of Finance, Budget and Planning, Mrs Zainab Ahmed, Minister for Aviation, Mr Hadi Sirika and the Chairman of the Nigeria Governors Forum, Gov. Kayode Fayemi of Ekiti.

  • Edo okays N2.1b power proceeds for Benin Industrial Park

    The anchor investor in the Benin Enterprise and Industrial Park would soon be moving into the facility. This is because Edo State government has finalised plans to invest the N2.1 billion that will accrue from its divestment of 50 per cent of its equity in Edo-Azura Power Project, into the park.

    In a statement, Special Adviser to the Edo State Governor on Media and Communication Strategy, Mr. Crusoe Osagie, said the N2.1billion would go a long way in building the needed infrastructure for the park to come on stream.

    The statement read: “The state government is going to divest 50 per cent of its equity in Edo Azura Power project. We will be investing the proceeds into the Benin Enterprise and Industrial Park project as we prepare to have the Anchor investor settle down to business.

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    “The state government will be providing the needed infrastructure for the project, including access roads and other needed structures to ensure the smooth take-off of the facility.

    “We disclosed earlier that we have an anchor investor for the park. With the funds we now have, we have all that is needed to effectively kick-off. Nothing is going to be left to chance. As is characteristic of the governor, this is a masterstroke as we now have funds to begin the project. We expect other investors to cash-in on opportunities in the new industrial corridor.”

    He noted that the N2.1billion would be instrumental in ensuring that the state government meets its obligations to investors, by deploying the fund in constructing the access roads, clearing the environment as well as other physical structures to drive investment.

    He added that the Environmental and Social Impact Assessment for the Enterprise and Industrial Park is being conducted by the Federal Ministry of Environment, which would pave the way for the anchor investor to move into the facility.

  • Builders, Australian govt seal building methodology deal

    The Nigerian Institute of Building (NIOB) and its counterpart, the Australian Institute of Building (AIB) have signed a memorandum of understanding (MoU) in Sydney, Australia to improve the methodology and technology of building construction.

    The MoU which is aimed at making NIOB and AIB have a shared commitment to become a stronger professional institute and educator within the building construction industry was signed during a construction event tagged: Constructing Our World.

    The event was jointly organised in Sydney by the New-Zealand Institute of Building, Australian Institute of Building and Singapore Institute of Building.

    According to the National President of AIB, Mr. David Burnell, AIB and NIOB will work together to raise the level of professionalism in the building construction industry and education in Australia and Nigeria.

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    National President of NIOB, Mr. Kunle Awobodu said the collaboration among members of the two institutes would promote research in the field of construction and also encourage greater participation of members in jointly organised construction events for valuable Continuing Professional Development (CPD).

    The two parties have also agreed to exchange information relevant to the development of the building construction management profession in Australia and Nigeria in order to facilitate an understanding of each other’s work.

    In his goodwill message to the NIOB, the High Commissioner of Nigeria in Australia, Ambassador Bello Kazaure Husseini hoped that the bilateral relationship would advance construction innovations in Nigeria.

    Recounting his experience after a tour of building construction sites in Australia, the Vice Chairman of the Council of Registered Builders of Nigeria (CORBON), Dr. Samson Opaluwah commended the compliance with standards which the group would not relent at promoting in Nigeria.

    The former General Secretary of NIOB, Mr. Fadil Elegbede expressed satisfaction on the new value the Sydney event has contributed to the construction knowledge of NIOB members, taking into consideration cultural differences.

    As NIOB takes a giant step into global activities, expanding the scope of its construction knowledge and skills to overseas, establishing opportunities for academic and training exchange programmes, the President of the institute, Mr. kunle Awobodu  hinted that there were ongoing discussions on collaboration with the New-Zealand Institute of Building and Singapore Institute of Building to create a multilateralism for greater collective drive to technologically shaped construction products.

  • Nigeria needs $3tr for infrastructure

    Nigeria requires a whopping $3 trillion to bridge its infrastructure gap over a 30-year period, Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, said on Monday.

    Speaking at one-day workshop on Maximising Finance for Development (MFD) of Infrastructure in Nigeria organised by the World Bank Group in Abuja,  she said the cash amounts to roughly $100 billion per year.

    “With a total federal budget of less than $30 billion for 2019 and the dependency of Nigeria’s income on oil revenue with unpredictable global price fluctuation, Nigeria no doubt, lacks the fiscal space to self-finance the required infrastructure investment,” she said.

    The minister said the investment required to bridge this huge infrastructure gap has been planned to be financed through both public and private sector participation.

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    Mrs Ahmed said: “The private sector is expected to cater for about 48per cent of the investments which will account for assets that are fully owned and financed by the private sector itself. The remaining 52per cent of the required investment is expected to be financed from a combination of public and private sector for the first phase of the implementation.”

    The private sector is also expected to play a key role in providing critical infrastructure, either directly through privatisation or in collaboration with the government under public private partnership (PPP) arrangements.

    “There are four primary financing options: governments budgets; public debt; other public sources (e.g. Sovereign Wealth Fund, Public Pension Fund); and PPPs, available for financing the investments,” she said.

    In addition to already committed private sector investments, she said government is strategically considering how much, on project-by-project basis, to leverage from the primary financing options to ensure optimal risk allocation.

    Mrs Ahmed commended the effort of the World Bank Group for the timely intervention on infrastructure developmen. “The Federal Government has created an Infrastructure Project Development Facility to finance early project development activities so as to create a pipeline of bankable PPP projects, establish a dedicated cash backed fund (Government Resource Fund) outside the annual budgetary allocation process to finance the government’s contributions on infrastructure involving the private sector,” the minister explained.

    Giving an overview of Nigeria’s infrastructure gap, Mrs Ahmed said the country’s core infrastructure stock is currently estimated at 30per cent of the gross domestic product (GDP) which falls far short of the international benchmark of 70per cent.

    She said the effect of weak infrastructure is most striking in the energy and transportation sector. The two sectors, according to her, are key to national and economic development due to their multiplier effect across all sectors of the economy.

    The minister said increased private sector participation, through both PPPs and full privatisation, is required to decrease the burden of the required infrastructure investments by the public sector.