FG to borrow $9.3bn in
two years
The Federal Government has amended its borrowing plan for
infrastructural development, reviewing its proposed debt profile up from $7.9bn
to $9.3bn between 2012 and 2014.
Published in The Punch
Newspaper on Monday, 5th November, 2012
N’ Assembly dedicates
N19bn constituency projects to MDGs
National
Assembly has agreed to dedicate its members constituency projects allowance
worth N19.6bn to the realisation of the Millemium Development Goals in the
country.
Published in The Punch
Newspaper on Monday, 5th November, 2012
How to ensure universal access to
safe medicines, by Akunyili
Former Information and
Communications Minister and erstwhile Director General of the National Agency
for Food, Drug Administration and Control (NAFDAC), Prof. Dora Nkem Akunyili,
has proposed how to ensure universal access to safe medicines.
She spoke against the
backdrop of increasing cases of fake and substandard medicines, unreported
adverse drug reactions and abuse of prescription medicines in the country.
Published
in The Guardian Newspaper on Tuesday, 6th November, 2012
Ministry spends N6 billion on creek
projects
The Ministry of Niger
Delta Affairs said it has expended over N6 billion on three projects in the
region. The projects, which are located in the creeks of Burutu local
government area of Delta state, are the canalisation/river training of
Foupolo-Bulou Ndoro creek, canalisation at Odoubou Ogbabagbene and Ogbabagbene
land reclamation and shoreline protection.
The
Minister, Godsday Orubebe gave this hint while taking journalists and some
government officials on tour of the projects at the weekend.
Published
in The Guardian Newspaper on Tuesday, 6th November, 2012
EIB, UBA seal E50m regional
financing pact for small businesses
The European Investment
Bank (EIB)—Europe’s long-term lending institution—and United Bank for Africa
(UBA) Plc, have agreed to strengthen small and medium businesses in Africa
through a 50 million euro regional funding initiative.
The initiative was
sealed on Wednesday in Lagos by the two financial institutions. The EIB loan
will be used by UBA for on-lending to eligible customers in its countries of
operation.
Published
in The Guardian Newspaper on Tuesday, 6th November, 2012
FG threatens to stop
telecom firm’s promos
Federal Government has threatened to stop all promotions that
tend to increase the subscriber base of telecommunications operators in the
country.
Minister of Communication Technology, Mrs. Omobola Johnson, gave
the warning in Abuja on Wednesday.
Published in The
Guardian Newspaper on Wednesday, 7th November, 2012
NSE places Stanbic
IBTC shares on full suspension
Shares of Stanbic IBTC Bank Plc have been placed on full
suspension by the Nigerian Stock Exchange after the bank informed the Exchange
that it had adopted a holding company(HoldCo) structure.
In a statement made available to journalists on Wednesday, the
bank said it adopted the new structure in compliance with the revised
regulatory framework by the Central Bank of Nigeria, which requires banks to
divest from non-core banking businesses or adopt a holding company structure.
Published in The
Guardian Newspaper on Wednesday, 7th November, 2012
Govt,
Chinese firms sign MoU on power plants
Echoes of the neglect of the power industry reverberated on
Tuesday night as the Federal Government signed a Memorandum of Understanding
with two Chinese firms for the execution of two hydro power plants in Mambilla
and Zungeru conceived in 1982.
Sino Hydro and the China National Electric Equipment Corporation
will handle the contract, while a Nigerian firm, Sunrise Power and Transmission
Company, which originally won the contract for Mambilla, will partner the
Chinese firms to supply the local components of the contracts.
Published in Punch
Newspaper on Thursday, 8th November, 2012
Yobe to
Train 400 Youths
As
part of efforts to tackle youth unemployment and insecurity in the state, the
Yobe State Government has concluded plans to send 400 youth across the state to
Kano for skills acquisition.
The
state Commissioner for Youth and Social Development, Aji Yerima Bularafa,
disclosed that the youths would be sent to the General Sani Abacha Training
Institute Kano during a meeting of all the 17 local government caretaker
chairmen in his office. Bularafa said he convened the meeting in order to
finalise the arrangement for the movement of the 400 youths to Kano.
Published
in ThisDay Newspaper on Thursday, 8th November, 2012
Nigerians in Diaspora Plan to Double
$10bn Yearly Remittance
The All Nigerian Nationals in Diaspora (ANNID) has expressed its desire to double its yearly $10 billion remittance to the country in the coming years.
Its
National President, Dr. Peter Mozie, disclosed this yesterday in Abuja, while
addressing a press conference on the forthcoming Diaspora convention that will
take place in California, United States from November 29 to December 2.
Published
in ThisDay Newspaper on Thursday, 8th November, 2012
Development of Local Software
excites FG
The Federal Government has expressed delight that
efforts at encouraging the development of locally made software that would
address the peculiar needs and support the growth of the information and
communication sector of the nation is beginning to yield desired results.
Published
in ThisDay Newspaper on Thursday, 8th November, 2012
Climate Change: Lagos earmarks N40bn
to protect coastal areas
To mitigate the recurring ocean
surge and negative impact of climate change on Lagos State, Governor Babatunde
Fashola yesterday said his administration had designed coastal protection plan
that would cost about N40 billion.
The project, which will stretch for
about seven kilometres to protect coastline areas in the state, is expected to
be implemented in two budgetary cycles.
Published in National
Mirror Newspaper on Thursday, 8th
November, 2012
Abia govts shuts 100
illegal schools
The state government has sealed the
premises of the affected schools while it has set up a tribunal to try the
operators of the school.
Commissioner for Education, Mrs. Monica
Philips, who disclosed this to newsmen at a briefing in Umuahia yesterday,
said the illegal schools were used to perpetrate examination malpractices
in the state.
Published in National
Mirror Newspaper on Thursday, 8th
November, 2012
Afren boosts national’s production
capacity with 5,000 bpd
Nigeria’s 2.7 million
barrels per day (BPD) production capacity has been boosted by additional 5, 000
bpd as Afren, a major oil exploration and production firm has stated oil
production in the country.
Confirming the
development, Afren stated that the additional output would come from the Okoro
Field Extension, offshore south east Nigeria, at a stabilised rate of 5,000
bopd of 38° API oil, increasing total output from the Okoro area to
approximately 21,500 bopd. The firm stated in a statement that: “The Okoro-14
(Okoro Field Extension) development well was drilled by Afren and partner Amni
International Petroleum Development Company Ltd.
Published in National
Mirror Newspaper on Thursday, 8th
November, 2012
CBN reviews criteria
on power, aviation intervention funds
The
Central Bank of Nigeria, CBN, has revised guidelines on the N300bn Power and
Airline Intervention Fund, PAIF.
In a circular signed by Director , Development
Finance Department, Mr. Paul Eluhaiwe, the apex bank said that power projects
by any corporate entity, duly registered in Nigeria, involved in electricity
power supply value chain, including power generation, transmission,
distribution, gas-to-power projects and associated services, are eligible to
apply for the fund.
Published in National Mirror Newspaper on Friday, 9th
November, 2012
FG targets $16bn FDI
in 2013 – Aganga
The
Federal Government on Thursday said that it was targeting 16 billion dollars in
foreign direct investment, (FDI) into Nigeria in 2013 to further create jobs
and wealth for the nation.
Dr Olusegun Aganga, Minister of Trade and
Investment, said this in Abuja at the closing ceremony of the 8th National
Conference on Investment (NCI) organised by the Nigerian Investment Promotion
commission (NIPC).
Published in National
Mirror Newspaper on Friday, 9th November, 2012
Philanthropy:
Omu-Aran spends N30m on schools’ rehabilitation
Projects
in Omu-Aran, Kwara State, executed through the N2 billion Omu- Aran Development
Fund to which Dr. Jimoh Ibrahim contributed last May, have been completed.
Under the fund, N30 million was spent on
rehabilitation of science buildings and construction of laboratories, purchase
of science materials, equipment, computer sets, floor tiles and other items in
four community secondary schools.
Published in National
Mirror Newspaper on Friday, 9th November, 2012
Philanthropy: Amosun’s wife empowers physically challenged
More than 1,000 physically
challenged people from across the 20 local government areas of Ogun State on
Tuesday benefitted from the UPLIFTing the Physically Challenged programme by
the wife of the state governor, Mrs. Olufunso Amosun.
The programme, initiated by Mrs. Amosun, is designed to empower people with special needs across the state.
Hundreds of items such as free artificial limbs, wheel chairs, sewing machines and commercial items like giant coolers, umbrellas, packs of Indomie and other Dangote products and cash gifts were given to the physically challenged people to boost their personal and economic needs.
Published in National
Mirror Newspaper on Friday, 9th November, 2012
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