The Nation Newspaper

Tag: plans

  • Ecobank plans improved funding for movie industry

    The Managing Director, Ecobank Nigeria Patrick Akinwuntan has said the lender would support the Nigerian movie industry through improved funding and other commitments to the industry.

    He spoke at the premiere of the movie ‘The Bling Lagosians’ in Lagos said Ecobank is determined to support the creative industry as they are most suited in the task of reinventing the Nigeria of our dreams. This also being in line with the Central Bank of Nigeria (CBN) vision to support the Creative Industry through a Financing Initiative

    Akinwuntan said Ecobank is passionate about Africa and its cultural renaissance, and its partnership with Bolanle Austen-Peters, a renowned African culture promoter, sits perfectly with the Pan African brand.

    Further he stated that the bank will continue to leverage its digital offerings to facilitate a more seamlessly connected Africa. According to the bank Managing Director, through its flagship products EcobankPay and the Ecobank Xpress ecosystem the bank will remain in the forefront as key enablers of digital payments across the continent.

    As part of the partnership, Ecobank handed over N.5 million to the best dressed person at the premiere, being the climax of the ‘Eko for Show’ dress code for the event. Guests were encouraged to dress spectacularly to win cash prizes sponsored by EcobankPay.

    EcobankPay, is the lifestyle digital payment and collections service of Ecobank Nigeria, had been designated the payment solution for the premiere of the much anticipated movie.  EcobankPay is a convenient digital QR code that enables payments using the mobile phone, without the need for a plastic card. The uniqueness of the platform is that it has MasterPass, MVisa and Mcash embedded in the merchant identity QR Code. This enables each customer to transact across the three platforms not minding the bank cards they are holding.

     ‘The Bling Lagosians’ is a story that centres on the lifestyle of a Lagos family that is presently living in their past glory.

  • NIMASA plans to make over $400m yearly from ship chandling

    Nigeria Maritime Administration Safety Agency  (NIMASA) Director-General (DG) Dr Dakuku Peterside has developed a blueprint that will enable the country make over $400 million yearly from ship chandling.

    A senior Federal Ministry of Finance (FMoF) official, told The Nation, that Peterside is concerned that foreigners and non-professional chandlers are supplying essential com-modities to ships, including  Floating Production Storage Offshore Vessels (FPSOVs), oil rigs, platforms, supply boats and liquefied natural gas (LNG) vessels.

    The illegal practice, he said, had resulted in capital flight.

    The official alleged that some of those in the business obtained their licences from the Nigeria Customs Service (NCS).

    Peterside, the official said, was working on an updated record of authentic professionals in the business.

    “Lack of regulation of the profession was partly responsible for the criminal activities on the nation’s territorial waters and that is why NIMASA is taking the bold move to end the cycle of criminalities in our waters and seas.”

    He described the business as a most lucrative one.

    Ship chandling, established in Nigeria through an Act in 1958, comprises retail dealers who supply equipment and goods for ships.

    Items that could be found in a chandlery may include: rosin, turpentine, tar, pitch (resin), linseed oil, whale oil, tallow, lard, varnish, twine, rope and cordage, hemp, oakum and tools (hatchet, axe, hammer, chisel, planes, lantern, nail, spike, boat hook, caulking iron, hand pump, (marlinspike).

    Others are brooms, mops, galley supplies, leather goods, and paper. Items that could be supplied by the modern day chandlers range from foodstuff, drinks, oil, engine oil, water,  spares to materials that the Captain of the ship may require.

    Former Nigeria Licensed Customs Clearing Agents (ANLCA) President, Prince Olayiwola Shittu, said though the Local Content Act was to address such issues, the Nigerian Content Development and Monitoring Board was yet to understand the dynamics of local content in ship chandling.

    He said the country loses billions of naira yearly due to the low level of activities in the ship chandling sub-sector. He urged NIMASA to co-ordinate the statutes guiding ship chandling to harness it to create jobs for the youth and boost the economy.

    Ship of 5,000 Gross Registered Tonnage (GRT), he said, would require about $50,000 monthly for food, pharmaceuticals, oil, lubricants and other things to go to sea and return to port.

    Shittu said the NCS has the power to enforce as well as carry out the requisite training to understand the dynamics of how this aspect of the maritime business is run.

    “NIMASA and the Federal Government must do something about the business. The country must use all the resources we have to provide jobs for our people. Other countries are using ship chandel-ling to empower their youths and there is nothing wrong if we also tap into it,” he said.

    But an importer, Mr Shola Adedayo, alleged that port operators were charging indige-nous chandlers about 20 per cent of the total cost of the goods to be supplied. “They collect the money before they allow the goods to pass through their terminals for supply to the crew inside ships,” he said.

  • Zone Tech Park plans start-ups sponsorship

    A venture builder for start-ups, Zone Tech Park, has unveiled plans to sponsor start-ups.

    According to its founder, Bolaji Olagunju, the sponsorship was established to turn great ideas into products and services efficiently and profitably.

    He spoke at the launch of Zone Tech Park at the company’s premises in Gbagada, Lagos.

    Olagunju said the start-ups would have direct access to more than 400 domestic and international corporations who are clients of workforce.

    He said: “African starups are faced with significant challenges that hinder their growth. Zone Tech will change the status quote and help individuals and their businesses to realise their full potential through education, venture building and strategic enterprise support.”

    He said the firm is open for start-ups at all stages in their life cycle, from those that are a great idea on paper to those with customers already on-board.

    “Zone Tech Park has a free co-working space for start-ups, which are not charged for access to the tech hub’s multitude of services and advisers. . We also plug our start-ups into a network of more than 400 corporations giving them direct access to market, helping them to avoid bottlenecks, strike deals faster and scale quicker. We support our start-ups in preparing for funding rounds by giving access to a network of potential investors, accelerator programs and ecosystem architects.

    “We have experienced in-house engineering team of over 20 software developers and designers; we also have experts in finance, legal, marketing, sales and fundraising teams that are ready to start work with our start-ups.’’

    According to the Zone Tech Park Chief Executive Officer, Toro Orero, the firm is not another co-working space, but would build companies.

    “With the wealth of corporate clientele at our disposal, we have hit the ground running and we are already  building world-class products and housing great start-ups.

    “We have experienced in-house engineering team of over 20 software developers and designers; we also have experts in finance, legal, marketing, sales and fundraising teams that are ready to start work with our start-ups,’’ he said.

  • Afreximbank plans $1b for trade, infrastructure

    The African Export-Import Bank (Afreximbank) has expressed its readiness to work with the Federal Government arrange about $1 billion financing for government’s investments in trade-enabling infrastructure.

    The bank has so far approved financing amounting to $17 billion for Nigerian entities between its commencement of operations in 1994 and last December, its President Benedict Oramah, said.

    Speaking during the bank’s visit to Nigeria, he said the lender’s facilities had made major impact on critical sectors of the economy. He added that the bank had loans outstanding of about $3.5 billion in Nigeria as at December last year.

    Oramah identified the sectors benefiting from the bank’s facilities as financial institutions, transport, hospitality, manufacturing, agro-allied, oil and gas, power, and telecommunications.

    He said that Afreximbank’s support to Nigeria had included provision of liquidity and trade finance lines of more than $800 million during the banking consolidation when many international banks cut credit lines to the country. It also included the provision of $1.8 billion to support the economy during the recent oil price shock in 2015 to 2016.

    He enumerated that the bank’s current initiatives in Nigeria to include the development of testing and inspection centres across the country in collaboration with the Standards Organisation of Nigeria; establishment of a Centre of Excellence for Tertiary Healthcare/Medical Park; potential participation in the Nigeria SEZ Investment Company Ltd being promoted by the government; support for industrial projects through loans to strategic banks; arrangement and disbursal of $750 million to the Bank of Industry in June; provision of trade and letter of credit lines to all Nigerian banks, in close coordination with Central Bank of Nigeria, in order to ensure access to trade finance; and development of an Afreximbank Africa Trade Centre in Abuja.

     

  • Asake’s burial: Family axes CAN from plans, rites

    •We want everyone involved, says younger brother

    The family of the late General Secretary of the Christian Association of Nigeria (CAN), Rev Musa Asake, has rejected offers of assistance from the apex Christian body on burial plans for the Kaduna-born preacher.

    Asake, 68, died on May 11 after a brief illness in Abuja.

    Our correspondent confirmed the family had already communicated the rejection of assistance to CAN.

    In a letter dated May 23 signed by the deceased’s son based in the United States of America Aminchi Musa Asake, the family declared unequivocally to the apex Christian body “we do not need your assistance.”

    Titled Letter of information, the document obtained exclusively by our correspondent reads: “I received your letter dated May 22. I want to thank CAN for reaching out to my family and wanting to commiserate with us on the passing of my father.

    “You have been so generous as to offer assistance with the planning of his burial, even planning a service of songs and commendation service.

    “But at this point, I must ask CAN to stop. We do not need your assistance.

    “The family has taken an independent decision that we will be solely responsible for the burial of our father, Late Rev Musa Asake.

    “We have already set up an independent committee and will proceed accordingly with our plans. Thank you.”

    It was gathered the letter might not unconnected with firm beliefs among family members that Asake was badly treated and frustrated by CAN leadership.

    One of them, who spoke with our correspondent on strict anonymity, confided that the deceased was constantly under pressure and fear following an alleged power play in the body.

    The family source said: “We cannot allow CAN leaders to shed crocodile tears during his funerals because many of them frustrated him so much in his last days on earth.

    “For example, we have SMS records of the President threatening to sack him and not pay his salary up to 24 hours before he died.

    “Such persons will come to the funeral to pay tributes when in their hearts they know they made living hell for our father. So, we will rather do the funeral as a family than allow his detractors to gloat over his corpse.”

    This feeling, according to family sources, was further reinforced when a delegation of CAN visited the deceased’s residence hours after his demise, asking for keys to his office at the Christian Centre, Abuja.

    “Our father died on Friday and the same day, CAN asked some officials to commiserate with us. Can you believe they asked us to deliver the keys to his office?

    “They want to take over the office when his body had not even settled down in the morgue. It is obvious they don’t mean well at all,” another family source stated.

    It was further gathered that another delegation of CAN visited the deceased’s residence last Tuesday with Asake’s widow refusing to receive them.

    The delegation was eventually received by a male relation who was reportedly handed an envelope, which he initially rejected.

    After many pleas, the relation received the envelope, which contained only N50, 000 to “support burial plans.”

    It was learnt the delegation also offered to buy the casket for the deceased, a suggestion that was immediately rejected by the family.

    The funeral committee set up by the family is headed by immediate Executive Secretary of the Nigerian Christian Pilgrimage Commission(NCPC), John Kennedy with Rev Albert Uko as secretary and Pastor Bosun Emmanuel as Publicity Secretary.

    A statement by the committee stated an interdenominational Service of Songs holds on June 5 at Abuja by 4pm at the National Christian Centre while another Service of Songs is slated for June 7 at Kafanchan Stadium.

    The funeral holds on June 8 at Kafanchan Stadium by 10am while the interment is at Ungwa Rimi, his ancestral home.

    But CAN also has a committee headed by Bishop Stephen Adegbite, the National Director for National Issues.

    It stated a Service of Songs for the deceased holds on June 6 at the National Centre by 5pm.

    The commendation service is slated for June 7 by 9am.

    The wake is for Kafanchan Stadium same day while the funeral service on June 8 by 10am at Kaduna.

    Contacted Adegbite told our correspondent on phone two committees would meet tomorrow to “harmonise” things.

    The deceased’s younger brother, Jonathan, a former House of Representatives member also confirmed the harmonisation meeting to our correspondent.

    On whether he is aware of the letter from Asake’s eldest son, Jonathan asked our correspondent to discountenance it, fuelling speculations the family might be divided on the communication from Aminchi.

    “What I can tell you is that the family wants as many different components and interest groups accommodated so we are meeting on Monday to harmonise positions.

    “There is nothing like parallel committees. We want everybody involved because he was a public figure.”

  • Asake’s burial: Family axes CAN from plans, rites

    •We want everyone involved-younger brother

    The family of late General Secretary of the Christian Association of Nigeria (CAN), Rev Musa Asake, has rejected offers of assistance from the apex Christian body on burial plans for the Kaduna-born preacher.

    Asake, 68, died on May 11 after a brief illness in Abuja.

    Our correspondent confirmed the family had already communicated the rejection of assistance to CAN.

    In a letter dated May 23 signed by the deceased’s son based in the United States of America, Aminchi Musa Asake, the family declared unequivocally to the apex Christian body “we do not need your assistance.”

    Titled Letter of information, the document obtained exclusively by our correspondent reads: “I received your letter dated May 22. I want to thank CAN for reaching out to my family and wanting to commiserate with us on the passing of my father.

    “You have been so generous as to offer assistance with the planning of his burial, even planning a service of songs and commendation service.

    “But at this point, I must ask CAN to stop. We do not need your assistance.

    “The family has taken an independent decision that we will be solely responsible for the burial of our father, Late Rev Musa Asake.

    “We have already set up an independent committee and will proceed accordingly with our plans. Thank you.”

    It was be gathered the letter might not unconnected with firm beliefs among family members that Asake was badly treated and frustrated by CAN leadership.

    One of them, who spoke with our correspondent on strict anonymity, confided that the deceased was constantly under pressure and fear following an alleged power play in the body.

    The family source said: “We cannot allow CAN leaders to shed crocodile tears during his funeral because many of them frustrated him so much in his last days on earth.

    “For example, we have SMS records of the President threatening to sack him and not pay his salary up to 24 hours before he died.

    “Such persons will come to the funeral to pay tributes when in their hearts they know they made living hell for our father. So, we will rather do the funeral as a family than allow his detractors to gloat over his corpse.”

    This feeling, according to family sources, was further reinforced when a delegation of CAN visited the deceased’s residence hours after his demise, asking for keys to his office at the Christian Centre, Abuja.

    “Our father died on Friday and the same day, CAN asked some officials to commiserate with us. Can you believe they asked us to deliver the keys to his office?

    “They want to take over the office when his body had not even settled down in the morgue. It is obvious they don’t mean well at all,” another family source stated.

    It was further gathered that another delegation of CAN visited the deceased’s residence last Tuesday with Asake’s widow refusing to receive them.

    The delegation was eventually received by a male relation who was reportedly handed an envelope, which he initially rejected.

    After many pleas, the relation received the envelope, which contained only N50, 000 to “support burial plans.”

    It was learnt the delegation also offered to buy the casket for the deceased, a suggestion that was immediately rejected by the family.

    The funeral committee set up by the family is headed by immediate Executive Secretary of the Nigerian Christian Pilgrimage Commission (NCPC), John Kennedy with Rev Albert Uko as secretary and Pastor Bosun Emmanuel as Publicity Secretary.

    A statement by the committee stated an interdenominational Service of Songs holds on June 5 in Abuja by 4pm at the National Christian Centre, while another Service of Songs is slated for June 7 at Kafanchan Stadium.

    The funeral holds on June 8 at Kafanchan Stadium by 10am while the interment is at Ungwa Rimi, his ancestral home.

    But CAN also has a committee headed by Bishop Stephen Adegbite, the National Director for National Issues.

    It stated a Service of Songs for the deceased holds on June 6 at the National Centre by 5pm.

    The commendation service is slated for June 7 by 9am.

    The wake is for Kafanchan Stadium same day while the funeral service is on June 8 by 10am in Kaduna.

    When contacted, Adegbite told our correspondent on phone the two committees would meet tomorrow to “harmonise” things.

    The deceased’s younger brother, Jonathan, a former House of Representatives member also confirmed the harmonisation meeting to our correspondent.

    On whether he is aware of the letter from Asake’s eldest son, Jonathan asked our correspondent to discountenance it, fueling speculations the family might be divided on the communication from Aminchi.

    “What I can tell you is that the family wants as many different components and interest groups accommodated so we are meeting on Monday to harmonise positions.

    “There is nothing like parallel committees. We want everybody involved because he was a public figure.”

     

  • Fed Govt plans100, 000 mass housing units’ scheme

    The Federal Government  said its plans to deliver 100, 000 affordable homes yearly as social housing scheme in the country is close to fruition.

    Minister of State for Power Works and Housing II, Surv Hassan Zarma, stated this during an inspection of Lafia, National Housing Programme (NHP).

    He said low income earners, such as artisans and commercial vehicle operators, among others, would have access to the affordable houses at the price of N2 million and N5 million for one-bedroom and three-bedroom flats respectively.

    He said the housing project initiated by the Office of the Vice President, will be supported by the Federal Ministry of Finance but entirely different from the current NHP being executed in the 34 states across the federation.

    According to the minister, who is the Chairman, Presidential Initiative on Family Home Fund, government is committed to end housing deficits in the country.

    He said: “The 100, 000 houses is family home fund that is purely social housing programme. The cost will not be as high as this, it will be much more lower.

  • Fed Govt finalising plans on toll gates’ return, says minister

    The Minister of Power, Works and Housing, Mr. Babatunde Fashola, has  said the Federal Government will standardise the operation and management of toll gates before reintroduction.

    He spoke yesterday in Abuja when he appeared on the News Agency of Nigeria (NAN) flagship programme, NAN Forum.

    Fashola said the standardisation was to overcome some of the problems encountered in the past in the operation and management of the plazas.

    He said: “We are also working to overcome some of the problems of the past, accountability and transparency in the operations and management.

    “We think technology gives us an opportunity to overcome these problems.

    “So we want to standardise all of that, then we have sent our officers out because we have revolved the design actually, what we want the toll plazas to look like.

    “In terms of design, quality of materials, cost, because we want to issue bids for people to come and bid for them.

    “So that when we are evaluating the bids, there can be proper evaluation because we are standardised.”

    The minister said the Federal Government had recorded progress in road construction and rehabilitation, considering the poor state of the roads at the inception of the current administration.

    “We have momentum in terms of team work, project delivery and problem solving and I think we should be seeing more cascading of results in more places.

    “In areas where our contractors are back to site, what we hear is that the journey is getting better; their travel time has been reduced and we will continue to reduce that.

    “Those that used to go through bush paths now see that they can drive through the roads even though it is not finished.

    “Contractors on the road sites who were laid off are back to work. So, that is a good news for them and their families to earn income,” he said.

    Fashola said the Federal Government was also making efforts to recover and protect its rights of way on highways to address the challenges of abuses on federal roads.

    According to him, the government on each highway has a right of way of 45.75 metres from the centre line on either sides of the road.

    He said the right of way of the government had over the years been encroached on by unapproved structures, trading, illegal parking of vehicles and vehicular repairs.

    Fashola said the Federal Government would not renew temporary occupant of its right of way.

     

     

  • Fed Govt plans N100b bonds next week

    The Federal Government plans to issue two bonds valued at N100 billion next week, in a continuation of the government’s dual strategy of proactive debt management and development of the domestic debt market.

    A notice by the Debt Management Office (DMO)-which oversees Federal Government’s sovereign debt issues, indicated that the government will be offering by subscription N100 billion worth of bonds in its February 21, 2018 auction.

    The offer circular obtained yesterday indicated that government will sell a N50 billion three-year bond at a coupon of 14.50 per cent and maturity of July 2021. Government will also offer a N50 billion bond with maturity in February 2028.

    The July 2021 bond is a re-opening of previous issues while the February 2021 bond is a new 10-year issue.

     

  • Disquiet over plans to withdraw N18b from N45b IDPs fund

    •N5b for ‘retraining’ of security personnel
    •We followed due process, says minister

    There is disquiet over the request to deduct N18,227,065,037.50 from the N45 billion approved by the National Assembly in 2016  for the Presidential Committee for the Northeast Initiative (PCNI).

    Of the targeted N18.2 billion, N5 billion is being proposed for the “retraining of security personnel” in the Northeast under a project called the “Bama Special Squad”.

    The National Assembly had, in December 2016, approved the N45 billion for the rehabilitation of millions of Internally Displaced Persons (IDPs) and rebuilding of the six Northeastern states ravaged by the Boko Haram insurgency.

    The N45 billion was meant to address humanitarian crises in the 112 local governments in the six states – Borno, Yobe, Adamawa, Bauchi, Gombe and Taraba.

    The N18. 2 billion is meant to go into a special account, the “Northeast Intervention Fund”, which has been placed under the control of Minister of State for Budget and National Planning Mrs. Zainab Ahmed and Chief of Staff to the President Abba Kyari.

    Kyari is the chairman of the Bama Initiative. He also chairs the Procurement Committee. Zenaib Ahmed chairs the Project Committee of the Bama Initiative.

    Responding to The Nation’s inquiries on the project, the minister said there was no wrong doing in the steps taken so far, insisting that due process was observed in setting up the Bama Initiative.

    Speaking through Mr. Akpandem James, an aide of the Minister of Budget and National Planning, Senator Udoma Udo Udoma, the Minister of State said the project was part of the intervention programme for the Northeast.

    The minister’s response, which came through an email questionnaire sent to her by The Nation, confirmed the request, but stated that the N18.2 billion had not been released .

    She insisted that the fund was not being diverted, adding that the Bama Initiative was conceptualised to address the development of the Northeast as a focused intervention that concentrates on providing a holistic solution.

    The minister said: “First of all, the word diversion is inappropriate here. The assumption may stem from the lack of understanding of the essence of the Northeast Intervention Fund and the role of the Presidential Committee on Northeast Initiative (PCNI).

    “Both have to do with interventions in the Northeast rehabilitation programme. A representative of the PCNI is a member of Presidential Steering Committee, the Implementation and Procurement Committees of the Bama Initiative (TBI); so the question of diversion does not arise.

    “The Northeast Intervention Fund is a Service Wide Vote, which has a budgetary provision of N45 billion. Expenditure from this vote can be approved by the President for the development of the Northeast. PCNI is funded from the vote, so is TBI.

    “The Bama Initiative was conceptualised to address the development of the Northeast as a focused intervention that concentrates on providing a holistic solution; an improvement on the fragmented approach in the past few years.

    “TBI is meant to be a pilot that can be replicated in another town that has been devastated by the Boko Haram insurgency.”

    She added: “TBI is to be made operational to coordinate and support the security and humanitarian activities of the Federal Government, the Borno State Government (BOSG), the Nigerian Armed Forces (NAF), the Nigerian Police Force (NPF), the Nigeria Security and Civil Defence Corps (NSCDC) and the National Emergency Management Agency (NEMA).

    “That vehicle, which is a pilot phase of the Northeast rehabilitation programme, starting with Borno State, is The Bama Initiative (TBI). There is already a provision of N45 billion in the 2017 Budget for Northeast intervention. The N18,227,065,037.50, when approved, would be ring fenced in a Special Project Account to be used exclusively for TBI.”

    The N45 billion PCNI is set aside for the rehabilitation of 21 local governments spread across six states in the Northeast. The N18.2 billion is being proposed for Bama Local Government, which is only one out of the 21 local governments devastated by insurgency.

    On why Bama was singled out for the project, the Minister said: “The choice derives from the fact that Bama is the second largest town in Borno State. It also has the second largest number of displaced persons.

    “Bama also has a strong military presence, a helipad, good logistics and a location where a number of people have already moved to. It was, therefore, ideal that the programme is adapted to Bama.”

    Mrs. Ahmed justified the involvement of the Bama Initiative in the retraining of security agencies with N5 billion, saying the security personnel so trained will constitute what she described as the “Special Bama Squad (SBS)”.

    She said: “The Special Bama Squad (SBS) would be made up of 1,500 men of the NPF and 1,500 men of the NSCDC that will relieve the Nigerian Army in Bama and five other nearby towns and its environs.

    “The SBS will be trained to fit into their expected role. The Nigerian military is to conduct the training of the 3,000 men. TBI intervention is designed to ensure that, as the Nigerian military reclaims territories held by or under threat from the Boko Haram insurgency, these territories are secured by the Police and Civil Defence formations, enabling the armed forces to advance and secure other operating theatres.”

    Mrs. Ahmed said her position as chairperson of the Project Implementation Committee would not lead to any conflict of interests with her role as Minister of State.

    Asked to defend the Bama Initiative and speculations that it was one of the many scandals being perpetrated under the present administration, the minister said such speculations were borne out of ignorance.

    Inaugurating the PCNI in October 2016, Buhari had directed all government agencies involved in humanitarian efforts in the Northeast to collapse into PCNI, which he mandated to coordinate all intervention activities in the zone.