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Naija News 2day

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

The President, who stated this at a reception in his honour said Nigeria would welcome the naijanews247 support of foreign investors, the Chinese government and local businesses for efforts to diversify the state’s market.

Other deals signed and announced during the visit, in accordance with the statement, include 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 additionally signed an agreement valued at 200million dollars for the building of two 500MT/day float gasoline facilities.

It further stated that the agreement, valued at $363 million for the establishment of a comprehensive farm and downstream industrial park in Kogi State was also announced at the Nigeria-China business forum.

In addition, agreements getting negotiations include a $500 million project for a $25 million facility for creation and the provision of television broadcast equipment of pre-paid smart meters between Microstar Company Limited and Mojec International Limited.

"This time we will be more purposeful. Businesses and the authorities will be entailed," Buhari said. In his comments, the Secretary of the Communist Party, who's also the Governor of the Guangdong Province, Mr. Hu Chinhua, vowed that the area would support the execution of all the bilateral agreements reached with the Chinese government during Buhari’s visit.

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

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

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

In accordance with the statement, a total of $1billion is 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.



In accordance with the statement, about 100 Nigerian businesses and 300 Chinese companies participated in the Nigeria-China business forum, which took place after his v isit was begun by Buhari to China.


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

Brewer said the venture was a franchise of a, and made the disclosure at the launch of a fitness centre owned by the business at Zone E, Abuja, Apo Legislative Quarters

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

She said "Curve Fitness Centre in Abuja creates the opportunity to encourage wellness" and female fitness and to reinforce a brand new fitness franchise business www.naijanews in Nigeria

Based on 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 healthy lifestyle for longevity of life as panacea.

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

He urged Nigerians to be creative about what they could enhance the world’s economy and think apart from population.

Previously, Operations Manager of the center, Mrs Peace Elimimian, had expressed optimism that the center would influence meaningfully on the lives of girls.

Based on the cleric, it’s time for Nigerians to think of what they are able to package for the world’s market instead what they could get from it.




Mr Ekpo Nta, Chairman Independent Corrupt Practices and other Related Offences Commission (ICPC), has said that Nigerians must resolve to reduce corruption to the barest minimum by eschewing and acting against it.

The class that was started eight years ago by NIPSS is targeted at creating a critical means of getting technocrats involved with policy making for national development.



He said that the menace was a world-wide phenomenon which had not been confined to Nigeria.

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

He stressed that it was regrettable as the legislations seemed not to be helping the problems, that it persisted.

The ICPC chief, hence, called on the legislature to review corruption laws in the country to ensure greater operation, efficiency and deterrence.

He said that though public understanding was the commission was only engaged in prosecuting corrupt government officials on account of the thoughts attached to it, it was focusing on other corrupt practices.

These, he said, contained land latestnaijanews.com 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 capital have been transferred into three different bank accounts, adding that the details would be made public.

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

He said that the measure followed reported cases of pupil harassment in some universities in the country.

Nta added that ICPC was also reviewing the country’s primary health care process in collaboration to address its decay over the years.

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

The naija news 24 Agency of Nigeria (NAN) reports the course participants were drawn in the military, the Police and other government agencies.

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


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

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



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

"Nigeria isn't sick. The actual vulnerability in the Nigerian market is over-reliance on one source of sales; petroleum.

"We have resolved to develop resilience into the nation’s economy to hedge against future oil shocks. The reason being reliance on oil brings about susceptibility and laziness.

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

Adeosun said with a diversified market the government would have empowered opportunities for wealth creation that would have flown down to every Nigerian.

"The powerful business case in Nigeria is that the basics remain very powerful, youthful growing population, a teaming, rich in resources and with a government decided to eventually get it right.

"The wonderful thing is that long term investors recognise this and understand the difference between short term and long term issues and the case for Nigeria gets one to plan for the longer term chances,’’ the statement.


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


Ayodele Fayose, the Ekiti State Governor, has written to the Chinese government seeking the stoppage of the $2 billion loan being sought by the Federal Government of Nigeria.

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

But Fayose said in his letter to President Xi Jinping of China: "The government of China should be aware of the fact that Nigerians, irrespective of their political and spiritual associations, are completely against increment of the nation’s debt burden, which can be 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 given 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 jobs for which the loan was being sought were not 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 endeavor Nigeria, and a governor of one among 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 in 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 fund the 2016 budget, which is not yet been signed by the President, Muhammadu Buhari, owing to unending controversies between the Executive and Legislative arms of authorities."
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Guest Viernes, 24 Noviembre 2017