Tag Archives: Invest

Power: Gov Emmanuel urges FG to invest in infrastructure.

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Akwa Ibom State Governor, Mr Udom Emmanuel, has called on the Federal Government to speed up the development of infrastructure that would facilitate the distribution of electricity in the country.

 

Governor Emmanuel made the call when the Minister of Power, Works and Housing, Mr. Babatunde Fashola, called on him at Government House, Uyo.

 

He pointed out that the Ibom Independent Power Plant has generated enough power and is awaiting evacuation by the Distribution companies.

 

Governor Emmanuel expressed delight at the assurances by the Minister that the Federal Government was working out modalities for reimbursement of funds expended on federal assets, saying that his administration would use the funds judiciously in the development of infrastructures.

 

The Governor particularly lauded the Minister’s commitment to ensuring that the various electricity sub-stations are not only completed but energised.

 

Speaking earlier, Mr. Fashola, said his visit to the state was aimed at working out ways for the completion of the power distribution sub-station at Ikot Ekpene and Itu Local Government Areas.

 

Mr. Fashola assured that the power sector has been repositioned to enhance steady supply of electricity in the country.

He used the occasion to commend Akwa Ibom State Government for its investment in the power generation plant and intervention in the rehabilitation of federal roads assuring that efforts have been put in place for the reimbursement of the funds expended by the state on federal assets.

Nigeria Invites Russian Farmers To Invest

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The Nigerian government on Thursday extended invitation to Russians to take advantage of the country’s arable land to produce and export agricultural products.

Vice President Yemi Osinbajo gave the invitation when a Russian delegation led by the Russian Minister of Agriculture, Alexander Tkachev, called on him on Thursday.

“The oil prices have gone down tremendously and yet large amount of foreign exchange is used to purchase food abroad and we have large arable land for agric. It won’t make sense, if you don’t use the land,” Mr. Osinbajo said.

“We are inviting Russian farmers to invest in Nigeria, produce and import from here. We are just six hours away from Europe by air. Vegetables, flour can be exported to Europe from here. Even our local market here is a lot.”

Mr. Osinbajo said the availability of arable land in Nigeria made the case for improved local agricultural production in Nigeria an imperative, rather than continued importation with its significant pressure on dwindling foreign earnings of the country.

Both the vice president and the delegation that included Russian deputy minister of agriculture, Evgeny Gromyko, and officials of Russian firm (Rusal) agreed that the two countries should deepen the existing diplomatic relationship, especially economically.

The vice president assured his visitors, which included the Russian ambassador in Nigeria, Nikolay Udovichenko, there was a lot of money to be made if Russian technology in agriculture was deployed locally.

Earlier, the Russian agriculture minister, who is the Co-Chair of the Nigeria-Russia Joint Commission, expressed his country’s willingness to enhance the existing trade relations with Nigeria.

He noted that the Nigeria-Russia trade volume as at the end of 2015 exceeded $300 million, adding that there were potentials for improvement in the years ahead.

The Russian minister said there were better opportunities for economic cooperation between both countries.

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http://www.premiumtimesng.com/news/more-news/215057-nigeria-invites-russian-farmers-invest.html

India To Invest $5bn In Nigeria

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President Muhammadu Buhari has welcomed the proposed investment of $5billion in the Nigerian economy by the business delegation that accompanied the Vice President of India, noting that India had already invested $10 billion in the economy.

According to a statement by his senior special assistant on media, Garba Shehu, President Buhari said Nigeria will continue to expand its relationship with India in the areas of health, education, agriculture, technology and trade.

Receiving the Indian Vice President, Mohammad Hamid Ansari, at the State House, President Buhari said Nigeria had over the years benefited from the cooperation of the Asian country in trade and investment, agriculture, technology and the fight against terrorism.

President Buhari said Nigeria would emulate the Asian country’s agricultural model and capacity to feed its one billion population, and also export to other countries, describing the country as “sustainable and prosperous’’.

The President noted that Nigeria would continue to support the reform of the United Nations Security Council, pointing out that it was unfair on the rest of the world for five countries to exercise power of ‘‘yes or no’’ in the UN.

In his remarks, the Indian Vice President said his country, which is the leading buyer of Nigeria’s crude oil, will increase its purchase of the commodity in addition to natural gas.

According to him, the relationship between Nigeria and India is near perfect as both countries ‘‘have nothing to quarrel about’’.

World Population Day: We Must Invest In Girl Child Education– El-Rufai

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Kaduna state governor, Malam Nasir el-Rufai yesterday called for massive investment in the education of teenage girls for sustainable development.

Governor el-Rufai in a statement he  personally signed and issued in Kaduna, to mark the 2016 World Population Day today, said increased investments should be made in health and education for the benefit of the teenagers who are living the transition from childhood to early adulthood.

According to the governor, his administration has ensured that issues concerning teenage girls are adequately captured in the State Development Plan  (SDP).

El-Rufai noted further that the present administration, under his leadership, “upholds the universal right of all persons, including teenage girls, to education, health and freedom from violence.”

The governor said, society must ensure that the teenage girls who are the voiceless, marginalised and the  vulnerable are heard and given the opportunity to be included in all  decision-making processes that affect them.

“Kaduna State Government appreciates the importance of population issues as a key factor in sustainable development. Therefore, we are delighted to mark the 2016 world population day. This is especially true of teenage girls who often face more challenges than their male counterparts. “World Population Day which has the theme: Investing in Teenage Girls.

We welcome the focus on this important demography. Teenagers are living the transition from childhood to early adulthood, and require that increased investments be made in health and education for the benefit of the young.

“Without education, in poor health, and with little or no control over her own body, her future can be derailed, and her potential may never be realised. The challenges and obstacles faced by a teenage girl tend to multiply if she is a member of an ethnic minority, lives in a village or is from a poor household. But when a teenage girl has the power, the means and the information to make her own decisions in life, she is more likely to realise her full potentials and become a positive force for change in her home, community and the Nation.

Credit: Leadership

FG Urged To Invest Recovered Loot In Housing

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A call has gone to the Federal government to invest recovered looted funds in the development of low-cost housing and mortgage financing to facilitate the reduction of housing deficit in Nigeria. Director-General, Institute of Mortgage Brokers and Lenders (IMBL), Elisha Jasper, made the call in a congratulatory message to the President Muhammadu Buhari on his one year in office.

“There is a lack of mortgage professionals in Nigeria due to lack of mortgage studies; thereby creating a lack of knowledge and skills on mortgage brokerage, financing and lending. But IMBL cannot do it alone.

Individuals (workers and/or students), governments, Federal Mortgage Bank of Nigeria (FMBN) and Primary Mortgage Institutions (PMIs) must all play their parts or roles in this fight.

The governing council of IMBL urges that the looted funds recovered should be reinvested in low-cost housing and mortgage. While IMBL, with help from the government, continues to raise and produce mortgage professionals, FMBN should build mass houses that can be allocated or acquired by Nigerians on mortgage,” he stated.

Jasper said that members of IMBL believe that every Nigerian should own a house, no matter the situation of the economy. He noted that the problem with housing in Nigeria has become very unbearable and unimaginable, for not just the poor or low-income earners, but also for the so-called rich and elite.

Credit: Vanguard

Masari Urges Wealthy Individuals To Invest In Katsina

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Gov. Aminu Masari of Katsina State has urged wealthy citizens of the state to invest their funds by setting up companies that would generate employment.

Masari spoke at an interactive session with Katsina industrialists and business moguls on Monday.

‘’The setting up of industries and companies by the well-to-do individuals would assist to reduce the menace of unemployment.

‘’Today, 70 per cent of the Katsina youths including graduates and NCE holders are roaming the streets without jobs,’’ he said.

The governor lamented that majority of the youths are unskilled and untrained who only resort to crimes as a way out.

Masari advised the prominent Katsina citizens to show sign of commitments by striving hard to establish companies so as to motivate others from outside the state to do same.

‘’As citizens of Katsina, you must show signs of patriotism before outsiders will invest in the state,’’ he said.

He said that the state government on its parts would provide specious land to those willing to establish companies in the field of agriculture and mineral resources.

 

(NAN)

U.S. To Invest $600m In Nigeria- Kerry

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The United States will invest more than $600 million in Nigeria this year, Secretary of State John Kerry said yesterday in Washington.

He spoke during the opening session of the U.S.- Nigeria Bi-National Commission meeting.

The Nigerian delegation was led by Foreign Affairs Minister Geoffrey Onyema, supported by other officials including Nigerian Charge d’Affaires Hakeem Balogun.

Those with Kerry include leaders from the State Department, USAID, the Defence Department, Commerce Department, and other key agencies.  The U.S. Ambassador James Entwistle also attended.

Kerry, who hailed President Muhammadu Buhari’s actions in office in the area of security and the attempt to diversify the economy, said: “Our development assistance this year will top $600 million, and we are working closely with your leaders – the leaders of your health ministry – to halt the misery that is spread by HIV/AIDS, by malaria, and by TB.

“Our Power Africa Initiative is aimed at strengthening the energy sector, where shortage in electricity has frustrated the population and impeded growth.

“And our long-term food security programme, Feed the Future, is helping to create more efficient agriculture and to raise rural incomes in doing that.

“Our Young African Leaders Programme, in which many Nigerians participate, is preparing the next generation to take the reins of responsibility….and in education, we are working together to try to fight illiteracy, especially in the country’s north, where the lack of opportunity has been holding people back, and where the terrorist organization, Boko Haram, has murdered thousands and disrupted the lives of millions.”

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Kerry: U.S. to invest $600m in Nigeria

25 Danish Agric Companies Ready To Invest In Nigeria

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The Danish Agriculture and Food Council’s Senior Advisor, Ms Susanne Teilmann, on Monday announced the readiness of 25 Danish companies to invest in the development of Nigeria’s agricultural sector.
Teilmann told the News Agency of Nigeria (NAN) in Lagos that the companies had indicated interest in taking advantage of the Nigeria’s huge agricultural potential and share their farming experiences with Nigerian farmers.

My Council is in Nigeria to make presentations to the Nigerian Federal Ministry of Agriculture on what we have learnt on how Nigeria’s agriculture sector can become better.
My Council is very ready to share our agricultural development experience with Nigerians. We are ready to share all our experiences with Nigeria.

Already, about 25 Danish agricultural development companies have indicated their interest in coming to Nigeria to do business, as well as share their experiences with Nigerians.

Nigeria is where things can happen and this is where we want to be,’’ she said.

 
Teilmann, however, said that the companies were ready to partner with “the right” partners in Nigeria in developing and harnessing Nigeria’s agriculture potential.
The Council’s Advisor expressed optimism that Nigeria’s agriculture sector, if well-developed, had the possibility of making Nigeria a “food hub” in West Africa.
Teilmann urged Nigerian governments to urgently begin to encourage professionalism in the development of her agriculture.
The Advisor also enjoined the Nigerian governments to encourage and create the right environment for the involvement of young Nigerians in professional farming.

“Nigeria has the great potential of being the huge food hub for the whole of the West African region if her agricultural potential are adequately harnessed.
“We need to encourage professionalism in agriculture. We need to have schools for the training of young professional Nigerians in different areas of farming processes,’’ she added.

The Danish Agriculture & Food Council represents the agricultural and food industry in Denmark.

 

(NAN)

China To Invest $10 Billion In Cross River

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The Cross River State Governor, Ben Ayade, says arrangements have been concluded for Henan Province of China to commence construction of $10 Billion project in the state.

He gave the hint about the project agreement while addressing reporters at the Margaret Ekpo International Airport, Calabar on Thursday.

Governor Ayade said that the state would witness the arrival of 100 investors from Henan, who would set up various companies and industries in Cross River.

He also stated that the Henan Provincial Government would build a new China City in the state.

According to him, other team of investors would focus on various key projects, including huge agricultural investments, renewable energy, the garment factory, hydro power projects and the seaport.

Ayade further revealed that a logistic hub for the whole of Africa that would focus on the manufacturing sector would be established in the state.

Credit: ChannelsTV