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Naija News Feed

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

The President, who stated this at a reception in his honour by the Communist Party of China, said Nigeria would welcome the support of the Chinese government, foreign investors and local businesses for attempts to diversify the country’s market.

Other agreements declared naija.com newsnow and signed during the visit, according to 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 an agreement, valued at $363 million for the establishment of a comprehensive farm and downstream industrial park in Kogi State was also declared at the Nigeria-China company forum.

Moreover, agreements getting negotiations comprise a $500 million project for the provision of television transmission equipment and a $25 million facility for production of pre-paid smart meters between Mojec International Limited and Microstar Company Limited.

A statement issued in Abuja by his Senior Special Assistant on Media and Marketing, Mallam Garba Shehu, quoted the President as saying the diversification of the Nigerian market was long overdue, as ongoing reliance on crude oil exports had constantly made the economy vulnerable to shocks.

"This time we shall be more deliberate. Companies and the authorities will be involved," Buhari said. In his remarks, the Secretary of the Communist Party, who's also the Governor of the Guangdong Province, Mr. Hu Chinhua, pledged that the region would support the execution of all the bilateral agreements reached with the Chinese government during Buhari’s visit.

The statement added that Buhari also seen naija news with celebrity gossip the Sino-Singapore Knowledge City in Guangzhou, "which showcases advancements by China in medical, science and technological innovations."

The now naija news Agency of Nigeria (NAN) reported Shehu as saying the President has expressed satisfaction with the result of his working visit to China, which he said given additional investments to Nigeria surpassing $6billion.

Buhari said the several agreements concluded with the Chinese naija.com.news would have a tremendous and positive impact on vital sectors of the Nigerian market, including power, solid minerals, agriculture, home 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 construction and equipping of granite mining plant in Nigeria."

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



Based on the statement, 300 Chinese firms and about 100 Nigerian companies participated in the Nigeria-China business forum, which took place after Buhari started his v isit to China.


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 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 firm at Zone E, Apo Legislative Quarters, Abuja

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

She said "Curve Fitness Centre in Abuja creates a chance to bolster a new fitness franchise business in Nigeria and to encourage female fitness and health"

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

She identified great healthful lifestyle, personal hygiene and balanced diet as panacea.

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

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

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

According to the cleric, it’s time for Nigerians to think of what they are able to package for the world’s economy rather what they could get from it.

She urged women, irrespective of age, to tap into the tremendous health benefits of the centre.


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.

He said this on Friday while talking to participants of 21st session of Policy, Strategy and Leadership lessons of the National Institute of Policy and Strategic Studeis (NIPSS), Kuru, Jos, at the commission's headquarters in Abuja.

Speaking on "The Job of ICPC in the War Against Corruption: Mandate, Strategies and Challenges’’, Nta said that corruption was a huge challenge that manifested at all levels and confronted the nation.

The course which was began eight years ago by NIPSS is targeted at creating a crucial means of getting technocrats involved with policy making for national development.

He said that the menace was a world-wide phenomenon which wasn't limited to Nigeria.

According to him, corruption is more prevalent 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 dilemmas, that it continued.

The ICPC boss, therefore, called to review corruption laws in the state to ensure deterrence, efficiency and greater operation.

He said that though public perception was the commission was merely participated 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 administration in the Federal Capital Territory (FCT) and the monitoring and implementation 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 the commission was currently investigation a state where public funds have been transferred into three distinct bank accounts, adding that the details would be made public in due time.

He further said the commission had so far recovered billions of naira in cash and forfeited assets, stressing that it was additionally 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 added that ICPC was also reviewing the state’s primary health care process in collaboration to address its decay over the years.

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

The current news in naija Agency of Nigeria (NAN) reports 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 country and the indices driving it.


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

The statement quoted the minister as saying that Nigeria was adjusting to its new realities by implementing fiscal policies to steer the country back on course for secure growth with a diversified economy.



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 isn't ill. The actual vulnerability in the Nigerian market is over-dependence on just one supply of revenue; oil.

"we've resolved to develop resilience into the state’s economy to hedge against future oil shocks. The reason being dependence on oil brings about laziness and vulnerability.

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

" we've great chances to reset the Nigerian market and ensure that as we go forward, increase will be in a naija news.con sustainable manner so that we wo’t be vulnerable to petroleum price fluctuations.’’

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

"The powerful business case today breaking news in naija Nigeria is that the basics remain very powerful, a teaming, growing people that is youthful, rich in resources and with a government decided to finally get it right.

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


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


The Ekiti State Governor, Ayodele Fayose, 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.

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

"This $2 billion loan is part of the N1.84 trillion the Federal Government of Nigeria has proposed to borrow to fund the 2016 budget, which can be 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 Martes, 30 Mayo 2017