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Bella Naija News

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President Muhammadu Buhari in Guangzhou, China said his administration would take urgent steps to restructure Nigeria’s market by supporting new investments in manufacturing, agriculture and mining.

The President, who stated this at a reception in his honour said Nigeria would welcome the support of local companies, foreign investors and the Chinese government for efforts to diversify the country’s economy.

Other agreements announced and signed during the visit, based on the statement, comprise a $1billion facility for the establishment of a Hi-tech industrial park in Ogun-Guangdong Free Trade Zone in Igbesa, Ogun State.

The statement said the Ogun-Guangdong Free Trade Zone and CNG (Nigeria) Investment Limited also signed an agreement valued at 200million dollars for the building of two 500MT/day float gasoline facilities.

It further said that the arrangement, valued at downstream industrial park in Kogi State and $363 million www.naija news for the establishment of an extensive farm was also declared at the Nigeria-China company forum.

In addition, arrangements experiencing discussions comprise a $500 million project for a $25 million facility for creation and the supply of television broadcast equipment of pre-paid smart meters between Mojec International Limited and Microstar Company Limited.

"This time we shall be more deliberate. The authorities and companies will be entailed," Buhari said.

The statement included that Buhari also visited the Sino-Singapore Knowledge City in Guangzhou, "which showcases advancements by China in medical, science and technological innovations."

The bella naija news today Agency of Nigeria (NAN) reported Shehu as saying the President has expressed satisfaction with the outcome of his working visit to China, which he said afforded added investments to Nigeria surpassing $6billion.

Buhari said the several arrangements concluded with the Chinese would have a huge and positive impact on key sectors of the Nigerian economy, including housing, solid minerals, agriculture, power and rail transportation.

In the solid naija-news minerals sector, Granite and Marble Nigeria Limited and Shanghai Shibang signed an agreement valued at 55 million dollars for the construction and equipping of granite mining plant in Nigeria."

In accordance with the statement, a total of $1billion will be to be invested in the development of a greenfield expressway for Abuja-Ibadan-Lagos under an agreement reached by the Infrastructure Bank and Sinohydro Corporation Limited.

It further said that both companies additionally sealed a $250 million deal to develop an ultra modern 27-storey highrise complex and a $2.5 billion agreement for the development of the Lagos Metro Rail Transit Red Line project.

According to the statement, 300 Chinese companies and about 100 Nigerian businesses participated in the Nigeria-China business forum, which took place a day after Buhari began his v isit .

Maria Brewer, Deputy Chief of Mission, United State embassy in Nigeria, on Friday said Curve International, an U.S. firm, was targeting 2, 000 jobs for Nigerian girls lastest news in naija the next five years.

Brewer made the disclosure at the opening of a fitness centre owned by the firm at Zone E, Apo Legislative Quarters, Abuja, and said that the enterprise was a franchise of a

She said "Curve Fitness Centre in Abuja creates the opportunity to encourage female fitness and health" and to reinforce a brand new fitness franchise industry in Nigeria

She said that the center which began in Lagos in 2014 would be targeting to open about 200 additional centers across the country.

In accordance with the envoy, the fitness centre created by the firm has 7,000 factory outlets in 94 nations of the world.

She identified personal hygiene, balanced diet and good wholesome lifestyle for longevity of life as panacea.

Guest Speaker Pastor Tunde Bakare, at the event, lauded the initiative of the business for setting such center in Abuja.

He urged Nigerians to be creative and consider what they could add to the world’s economy apart from population.

Before, Operations Manager of the center, Mrs Peace Elimimian, had expressed confidence that the center would influence on the lives of women.

The class which was initiated eight years ago by NIPSS is aimed at creating a crucial means of getting technocrats associated with policy making for national growth.

He said the threat was a worldwide phenomenon which was not limited to Nigeria.

According to him, corruption is more common where there's bad governance, systemic failure and poor value orientation.

He stressed that it was regrettable as the legislations appeared to not be helping the issues, that in spite of the various legislations against corruption in the country, it continued.

The ICPC leader, hence, called to review corruption laws in the nation to ensure greater operation, efficacy and deterrence.

He said that though public understanding was that the commission was only engaged in prosecuting corrupt government officials due to the sentiments it was focusing on other corrupt practices.

These, he said, comprised land management in the Federal Capital Territory (FCT) and the monitoring and execution of particular government policies.

He said that ICPC was collaborating with the Nigeria Labour Congress (NLC) and Economic and Financial Crimes Commission (EFCC) in some of the duties.

Nta said that the commission was presently investigation a state where public resources had been transferred into three distinct bank accounts, including that the details would be made public in due time.

He further said that the commission had so far regained billions of naira in cash and forfeited assets, stressing that it was also conducting study that was systemic in some conditions in some universities.

He said the measure followed reported instances of student harassment in some universities in the country.

Nta included that ICPC was also reviewing the nation’s primary health care system in collaboration with the National Primary Health Care Development Agency to address its decay over time.

He listed societal values, tolerance, political and socio economic policies, weak government institutions and restriction of ICPC prosecution to State High Courts as some of the challenges confronting the commission.

He also said that inadequate protection of hazards and whistleblowers to officials were some other challenges facing the commission.

The naija news of today Agency of Nigeria (NAN) reports that the course participants were drawn from the military, the Authorities and other government agencies.

The 21st session of the course focused on corruption in the state and the indices driving it.

The Minister for Finance, Mrs. Kemi Adeosun, says Nigeria will overcome its economic challenges without taking loan facility from the International Monetary Fund (IMF).

In a statement issued in Abuja on Saturday, the observation was made by Adeosun at the ongoing Spring Meetings of the IMF-World Bank in Washington DC in response to why the government has refused to apply for IMF loans.

The statement quoted the minister as saying by executing fiscal policies to direct the nation back on course for secure growth with a diversified market that Nigeria was adjusting to its new realities.

Adeosun insisted that what the country was passing through was surmountable because government was already implementing a "cocktail of measures to address the problem.

"Nigeria is not sick. The actual vulnerability in the Nigerian economy is over-dependence on a single source of sales; petroleum.

"We have concluded to develop resilience into the nation’s economy to hedge against future oil shocks. This is because dependence on oil brings about vulnerability and laziness.

"So, we are doing a mix of stuff to diversify our market, with revenue mobilisation to empower sufficient investment in developing the non-oil sectors.

" We ensure that as we go forward, naijaa news growth will be in a sustainable manner so that we wo’t be vulnerable to oil cost changes.’’ and have fantastic opportunities to reset the Nigerian market

The persuasive business case in Nigeria is that the basics remain quite strong, growing people that is young, a teaming, rich in resources and with news naija latest a government decided to finally get it right.

The great thing is that long term investors understand the difference between short term and long term issues and recognise this and the case for Nigeria gets one to plan for the longer term opportunities,’’ the statement quoted her as saying.

Fayose urges China not to allow Nigeria’s $2b loan

Ayodele Fayose, the Ekiti State Governor, has written to the Chinese government seeking the stoppage of the $2 billion loan.

President Muhammadu Buhari’s visit to China this week was to discuss the development of the state’s infrastructure.

But Fayose said in his letter to President Xi Jinping of China: "The government of China should be mindful of the fact that Nigerians, irrespective of their political and spiritual affiliations, are entirely opposed to increment of the state’s debt burden, which is already being serviced with 25 per cent of the Federal Government annual budget."

In the letter dated April 12, 2016, with reference number: EK/GOV/28/10, addressed to President Jinping and delivered by Fayose’s Chief of Staff, Mr. Dipo Anisulowo, in Abuja yesterday through the Chinese Ambassador to Nigeria, Gu Xiaojie, the governor said some of the projects for which the loan was being sought weren't recorded in the controversial 2016 budget, which has been sent to President Buhari by the National Assembly for his assent.

The letter reads in part: "I write as one of the major stakeholders in the job Nigeria, and a governor of certainly one of the federating units making up Nigeria, to draw your attention to report the Federal Government of Nigeria is on the brink of getting a $2 billion loan from the Export-Import Bank of China.

"This $2 billion loan a part of the N1.84 trillion the Federal Government of Nigeria has proposed to borrow to finance the 2016 budget, which will be yet to be signed by the President, Muhammadu Buhari, owing to unending controversies between the Executive and Legislative arms of government."


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Guest Jueves, 22 Febrero 2018