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Tag: targets

  • Govt targets 460,000 jobs

    The Federal Government aims at creating about 460,000 jobs in the next four years through the Growth and Employment Project (GEM), the Minister of Industry, Trade and Investment, Mr. Olusegun Aganga has said.

    Aganga, who spoke  in Abuja at the inauguration of an eight-member steering committee for the GEM project, said the project is aimed at enhancing job creation and increasing non-oil growth in specific high-potential value chain sectors and would help to create 110,000 direct and 350,000 indirect jobs.

    The Committee is chaired by Aganga with members drawn from the Ministries of Finance, Information, Communications Technology, Culture and Tourism, Agriculture and Rural Development and the National Orientation Agency (NOA).

    Aganga said the committee is critical to enhancing inclusive economic growth through job creation and wealth generation. “The GEM project is very important to the Federal Government and the Nigerian economy. It is an employment project by the Ministry of Industry, Trade and Investment, supported by the World Bank and the United Kingdom Department for International Development (DFID).

    He said the World Bank is providing about $160 million loan facility, while the DFID is providing a grant of about $100 million. The project is aimed at job creation and increased non-oil growth in specific high potential value chain sectors. The project was conceptualised after the conduct of the Growth Poll Studies in 2007.

    “The study identified key sectors with potential growth in the economy and with high potential to generate jobs. This is what the Nigerian Industrial Revolution Plan and the National Enterprise Development Programme, launched by President Goodluck Jonathan recently, seek to achieve.”

    Aganga added that his ministry, working with the World Bank and DFID, has identified eight key-sectors with potential for generating employment. He said the impact of the implementation of the GEM programme would be felt in no distant future.

    He said: “It is expected that the GEM programme, which will run from June 2013 to September 2018, will create a minimum of about 460,000 jobs, comprising 110,000 direct and 350,000 indirect jobs. There are eight priority sectors that we have identified based on their growth and employment potential, which are also areas of focus in our NIRP and NEDEP.“ They are: Information and Communications Technology; wholesale and retail; hospitality and tourism; meat and leather; construction and real estate; entertainment industry; agro processing, light manufacturing and entrepreneurial development.”

    Speaking during the event, the World Bank Sector Leader, Finance and Private Sector Development in Nigeria, Mr. Michael Wong said the bank was committed to the successful implementation of the project, adding that it would reach about 10,000 enterprises within the implementation period.

  • Oando targets N100b profit on ConocoPhillips’ acquisition

    Oando targets N100b profit on ConocoPhillips’ acquisition

    Oando Plc will more than double its pre-tax profit to some N100 billion as the integrated energy group looks to unlock immense potential of its acquisition of ConocoPhillips (COP)’s Nigerian businesses.

    Speaking during a visit to the Nigerian Stock Exchange (NSE) yesterday, group chief executive, Oando Plc, Mr. Wale Tinubu, said the conclusion of the acquisition of COP, Oando’s earnings before interest, taxes, depreciation and amortisation (EBITDA) will rise from the current annual average of N45 billion to N100 billion.

    He said the increase in earnings would also lead to improvement in dividend payout to shareholders going forward.

    According to him, Oando has technically concluded the momentous acquisition having pooled the final financial considerations to complete the $1.55 billion agreement with COP.

    “All we require now is the consent of the minister, which is the legal requirement. The transaction will not be fully consummated until the minister consent is received,” Tinubu said.

    He assured the stockbrokers that ministerial consent is a near certainty, noting that the final approval will be granted very soon.

    He reiterated that the acquisition is a game changer for Oando as it will immediately position the company as the largest indigenous oil producer in Nigeria. Oando through OER currently produces 4,500 barrels of crude oil per day from two producing fields, with this acquisition it will start producing circa 50,000 barrels per day from six producing fields.

  • Customs targets N1.2tr in 2014

    Customs targets N1.2tr in 2014

    The Nigerian Customs Service (NCS) yesterday said it has set a revenue target of N1.2trillion for the year.

    The Comptroller-General, Dikko Abdullahi, who made this known during the decoration of newly promoted officers in Abuja, said 2014 is the year for the Service to prove to the Federal Government that it has come of age, “that we have built technological competences that will stand the test of time.”

    Abdullahi said the NCS will adopt a new strategy to deal with revenue offenders, adding that it will no longer be business as usual as legal action will be taken against offenders.

    He urged the officers to consider the challenges of terrorism as theirs, saying they should be on the alert to save the lives and property of Nigerians.

    He said: “Today, we are not fighting smuggling but we are fighting terrorism. The earlier we start seeing it as the challenges of the Nigerian Customs Service, the better.“

    The CG explained that of the 4,225 officers elevated, five were promote Deputy Comptrollers-General, saying they have been appointed into the management board, with each representing the six geo-pollitical zones of the country.

    Dikko said to complement the management, are 17 officers of the rank of Assistant Comptroller-General (ACG), adding that 111 of these were among those whose promotions were approved by the board.

    Abdullahi said the NCS has effectively taken over and is implementing the new Pre-Arrival Assessment Report (PAAR) was introduced into the clearance system.

  • 2015: Lagos APC targets 5m votes

    The Lagos State All Progressive Congress (APC) is work ing towards polling five million votes in the 2015 elections.

    The deputy chairman of the party, Alhaji Abiodun Sunmola, disclosed this at the stakeholders meeting of the East Senatorial District held in Maryland, Lagos.

    Sunmola, who is also the senatorial leader, said: “The task before us now is to mobilise the party members and supporters, ahead of 2015 general elections so that the APC would garner, at least, five million out of six million voters registered in Lagos State.”

    He added: “We should mobilise people to come out and vote in 2015. If Lagos APC can poll five out of six million registered voters in the state, it will boost the chances of the party at the centre. Besides, our leader Asiwaju Bola Tinubu, will have confidence to assert his leadership at the national level.

    “Given the fact that the Peoples Democratic Party (PDP) in Lagos State is dead, we should go back to our various wards to mobilise for our great party-APC that is capable of leading the country to the promise land. The task before us all is that we should make sure the APC wins, not only in Lagos State, but also at the centre.

    “To this end, we are setting up a committee that would visit all wards to assess the performance of each ward in the mobilisation drive. We should avoid distraction and divisive tendencies. APC is one family”, he added.

    The Publicity Secretary Mr Tunde Temiomu had earlier told the gathering that the purpose of the meeting was to disseminate information about the new party to the grass-roots.

    Senator Gbenga Ashafa disclosed that the leadership of the party is working out a formula for sharing positions among the legacy parties that formed the APC. We want to avoid acrimony in our party. Every segment will be carried along in the decision making. We want to prove to them that internal democracy reigns in the APC, he said.

    Ashafa urged members to work hard for success in 2015. He pray God to grant both Asiwaju Tinubu and General Muhammadu Buhari the wisdom to lead the party to the promise land.

    A member of the House of Representatives, Hon. Lanre Odubote, recalled that the formation of the APC started the day the House was inaugurated in 2011, when the progressive forces teamed up to elect House officers.

    Odubote buttressed his point by saying that the APC is in the majority in the House today as a result of the crisis rocking the PDP.

    The party scribe, Charles Odugbesan, said, while the restructuring is going on, executives at the ward level have not been dissolved. They would remain till new officers are elected, he said.

    “When the time for congress is ready, it will be announced. We have to accommodate members of the legacy parties in the new executive. Harmonisation Committee will meet very soon and work out formula for sharing offices, Odugbesan added explained.

    Those present at the meeting included Alhaji Sunmola, Senator Ashafa, Hon Odubote, Hon Demorin Kuye, Hon. Gori Ogbara, Alhaji Akanni Seriki, Asipa Kaoli Olusanya, Otunba Fatai Olukoga, Mr Temiomu, Mr Odugbesan, Mr Tunde Badmos, Pa Banire, Hon. Dele Onabokun, Dr Olaseinde, Mrs Folake Shokunbi, Hon Dele Korede, Prince Rotimi Agunsoye, Obafemi Durosinmi, Mr Olusegun Jamiu, Hon Babafemi Durosinmi, Hon S.A. Idowu, Afolabi Sofola, Alhaji Sikiru Banire an Tunde Braimah

  • APC targets five banks to boost access to credit

    APC targets five banks to boost access to credit

    The All Progressives Congress (APC) is planning five development banks to make credit accessible, former Chairman of the Peoples Democratic Party (PDP), Chief Audu Ogbeh, has said.

    He said the party is working hard to make sure that it meets the demands of the people.

    Ogbeh added that APC is targeting coal as an alternative to realising its target of meeting the 40,000 megawatt promised Nigerians.

    He spoke in Abuja at the Third International Conference on Africa’s Indigenous Stimulants.

    Ogbeh said the people have a choice to vote for who they want.

    Said he: “We have our agenda, they have their agenda. There are things they want to do and we have our own idea of doing things. We are looking seriously at coal and more hydro plants.

    “Priorities differ, depending on the option. It’s like drivers on the same highway, not all necessarily enter the same potholes. Some are more skilful.

    “We are planning five new development banks because it is impossible to access credit in this country. We have deliberately locked the economy.

    “We’ve locked the economy and there is no growth and we are grumbling about crime, unemployment and hopelessness among youths. I hear now that they are talking about one bank. We are talking about five; five development banks charging interest rate of one digit.

    “It is one of the key areas for access to credit for those who have enterprise in mind, especially younger people who have ideas and have no where to raise money. We can’t go on with this 30 per cent interest rate. We have been doing it since 1986. The country has been dying ever since. We can’t pretend that it is going to go on forever and that one day a miracle will happen. Somebody has to do something about it.”

    On why the party is dominated by ex – PDP members, Ogbeh said: “People defect from all over. People quarrel, people disagree on principles and they move. I don’t have to stay in a house if I am in a danger of death. I have experienced three assassination attempts. If I quit APC today, I quit politics. That is not an issue.

    “We are working very hard. Talking to people and presenting our agenda. If they like what we are saying, they vote. If they don’t, they remain where they are.”

  • Emenike targets Turkish league crown

    Emenike targets Turkish league crown

    New signing Emmanuel Emenike has told MTNFootball.com he hopes his goals will crown Fenerbahce champions of Turkey again.

    The Istanbul giants have won the Turkish league 18 times with their last triumph being two seasons ago.

    “My target is to win the league title with Fenerbahce and if possible the double with the cup. It is my duty to score goals as a striker and I will do my best to get as many as I can for Fenerbahce,” Emenike told MTNFootball.com

    “I love this club and will do all I can to make the fans happy. The reception was great and I am ready to give my best.”

    The AFCON 2013 top scorer has been assigned jersey number 29.

    He has featured for Delta Force (Nigeria), Mpumalanga Black Aces, FC Cape Town (Both South Africa), Karabukspor in Turkey and Spartak Moscow of Russia.

  • FEDERATION CUP: Ogene targets more goals

    FEDERATION CUP: Ogene targets more goals

    Nembe City utility player Ogene Elijah is confident of scoring more goals in the Federation Cup as his side faces Sunshine Stars in a Round of 32 fixture in Rojenny.

    The former Akwa Starlet midfielder scored Nembe City’s lone goal against Igbo Ambassadors in a Round of 62 clash in Owerri.

    Elijah told SportingLife that he and his teammates have all it takes to advance to the next stage at the expense of Sunshine Stars.

    He added that their league victory over Heartland would boost their morale against the Akure Gunners.

    “I want to score more goals. I am not underrating Sunshine Stars but we have ability to beat them. We have defeated big clubs in the league, a clear example being our home and away victory over Heartland in the Globacom Premier League,” the Edo State-born player declared.

    “The spirit in the camp is high and with the inclusion of new players, we will do our best to get to the next stage. This is my first year in the Premier League and I want to register my presence; the only way to do that is to score more goals.

    “I am grateful to the Management of Nembe City for giving me the opportunity to play in the top flight. We will give Sunshine Stars a good fight. They are an old team but we have the team that can beat them.”

  • Fed Govt targets 4,000MW from coal

    Fed Govt targets 4,000MW from coal

    The Minister of Power, Prof Chinedu Nebo, at the weekend inaugurated a committee to develop a framework for coal as a means for generating power.

    The minister said the utilisation of coal for power would fetch Nigeria an excess of 4,000 megawatts (MW) of electricity.

    He said the Ministry of Mines and Steel Development was conducting explorations in the Nigerian coal belt to identify and quantify the feasibility and viability of the coal sills in the country.

    Nebo said: “Nigeria is blessed with an abundant array of deposits of coal spread in 13 states of the federation. Significant and commercial quantities are evident in the belt spanning Enugu, Benue, Kogi, Nasarawa and Gombe states. Nigeria’s proven coal reserve is about 639 million tonnes and inferred reserves are in the region of 2.75 billion tonnes.

    “This shows you how important it is that a good work of exploration to quantify these coal sills is done. “The Federal Ministry of Power and the Federal Ministry of Steel are working together to ensure that not only is coal mined from our coal deposits but that our coal is also converted to power. When that is done, it is most likely that this coal belt, when utilised, can give us in excess of additional 4,000 MW of electricity.”

    The minister also said Nigeria’s generation mix consists of 70 per cent thermal plants and 30 per cent hydropower.

    Thermal plants, he explained, are based on natural gas as fuel.

    Rolling out the world average generation mix, Nebo said coal contributes 41 per cent; gas, 21 per cent; hydro, 16 per cent; nuclear, 13 per cent and oil, five per cent

    In his analysis of the contribution of coal to power, the minister said coal contributes 93 per cent to South Africa’s power generation.

    He noted that China generates 79 per cent of its power from coal while it is 87 per cent in Poland.

    According to him, Australia and the United States generate 78 per cent and 45 per cent of their electricity from power.

  • I have met my targets, says Orji

    Abia State Governor Theodore Orji has declared his performance sterling. He said he had delivered on his targets.

    In a statement by his Special Adviser on Public Communications, Ben Onyechere, Orji said: “If I should translate my electoral promises with the level of development both completed and on-going, I can comfortably beat my chest assertively that I have met my targets.

    “We deliberately decided to keep away from public view initially about our foundational projects because it is not my character to make noise and play to the gallery in the name of politics.

    “With the ongoing inauguration of infrastructural outlay, where fully built projects are being put to use for the benefit of the people, it is very clear that we have not relented in our avowed objective of laying foundations while increasing our efforts in putting finishing touches on the projects that we had started.

    “The purpose of inaugurating our projects is to bring to the knowledge of the people the existence of such infrastructure ,which will add value to their lives.”

    The governor vowed not to mix with politics with performance.

    “One major feature of our developmental initiatives is the prioritisation of infrastructure, which will directly impact on the livelihood of the generality of Abia people.”

    Orji added that his administration had identified health related issues as the bane of the development of the state .

    He spoke at the inauguration of a chest clinic built and donated by Agbami field, a conglomerate of several big oil companies.

    The governor said it is only a healthy man who will demand for the dividends of democracy, which is why he is upgrading and building hospitals in the state.

    Orji said: “It is only a healthy man who can appreciate the dividends of democracy, because a sick person can never appreciate it.

    “It is only when such person is healthy that he will appreciate it and we can only keep them healthy by giving them quality health care delivery.”

    He said his administration had declared a total war against all diseases, adding that the war against all sicknesses would continue until he leaves office.

    Orji said: “As part of the war against all ailments, we have built a paediatric centre at Amachara, 250 health centres in all the wards, 100-bed hospitals in major hospitals iand 17 ambulances for the 17 local governments”.

    The governor praised Agbami field for building the chest clinic and assured them that it will be put to maximum usage.

  • Omeruo targets European football

    Omeruo targets European football

    Dutch club ADO Den Haag are targeting European football next season, Nigeria international defender Kenneth Omeruo has said.

    With 36 points from 29 games, only one point separate ADO from a Europa League play-off spot.

    ”The fans of ADO Den Haag have high expectations of their club and we will not disappoint them. They hope we get European football and I think we’re going to do that.

    ”The final of the competition is very exciting. All the clubs where we still have to play against have different interests. Some clubs have the chance to become a champion or should do everything possible to avoid the relegation playoffs,” Omeruo was quoted as saying by soccernews.nl.

    19 – year – old Omeruo has suited up 23 times for ADO Den Haag in the Dutch championship. He has not been cautioned in his last 10 games.