Tallest hotel in West Africa unveiled in Lagos

 

The new 5-star hotel, 23-storey building Intercontinental Hotel is located at Kofo Abayomi Street, Victoria Island, Lagos and boasts of 358 rooms, 37 suites and a presidential suite and is proudly the tallest hotel in West Africa,  it cost a whooping N30billion!!

 

It was built by the Milan Group, designed by a Nigerian architect, Bayo Odunlami.

 

It was commissioned yesterday by Governor Fashola in the presence of a lot of dignitaries such as Oba Akinolu of Lagos, Oba Oniru, The Alake of Egbaland, Oba Gbadebo,  Dele Momodu.

 

 

 

 

FG to Upgrade Maritime Academy Oron to Award Degrees

The Minister of Transport, Sen. Idris Umar, said on Monday that the Maritime Academy of Nigeria, Oron, would be upgraded to award degrees.
NAN reports Umar made the statement at the 2013 World Maritime Day Celebration in Calabar. The theme of the event is: “Sustainable Development, IMO’s Contribution Beyond Rio+20”.

He said that a Memorandum of Understanding (MoU) was expected to be signed soon with the World Maritime University, Maimo in Sweden.

According to him, the Federal Government is also addressing the challenges of berthing facilities in the academy.

“Government is also addressing the challenges of berthing facilities for Nautical Science and Marine Engineering Cadets for their mandatory sea time to enable them obtain various classes of certificates of competency.’’

Obama congratulates Jonathan, Nigerians on 53rd independence anniversary

 

Washington, DC – The U.S. President, Barack Obama, has congratulated  President Goodluck Jonathan and the people of Nigeria as the nation celebrates 53rd anniversary it Independence Day on Oct.1.

 

“A warm friendship connects the Nigerian and American people, reflecting our shared values of democracy, economic growth, security, and respect for human rights and the rule of law.

 

“Our partnership is strong because of our people, as the proverb tells us, if you want to go quickly go alone. If you want to go far go together,’’ Obama in a statement,  issued by Secretary of State, John Kerry said on Monday.

 

He added that in the coming years, the U.S. would be looking forward to going further with Nigeria as the country expands education, jobs and opportunity for its people.

 

“On the 53rd anniversary of your independence, I wish all Nigerians a safe and prosperous future,” Kerry quoted the U.S. president as saying.

 

Meanwhile, in the historic city, New York, Nigerians and friends of Nigeria from around the world are gearing up to celebrate the anniversary of Nigeria’s Independence.

 

The celebration is scheduled from Oct.3 to 5 with activities ranging from party for young Nigerians and their friends, to a cultural night where the youth would demonstrate appreciation of their Nigerian heritage. Read full story from source

Vanguardng

 

Apple bumps Coca-Cola to become world’s top brand

 

For the first time in its 13-year history, Interbrand has a new leader of its annual study of the most valuable brand names: Apple.

 

The iPhone maker bumped Coca-Cola, which had led the study since it began in 2000, with a brand value that Interbrand assessed at $98.3 billion. And reflecting the rising importance of technology in global business and consumer consciousness, Google came in at second place with a brand value of $93.3 billion, well ahead of the soft drink maker’s $79.2 billion value

Not everyone fared as well in the tech world. As Samsung rose from ninth to eight place with a 20 percent brand value in increase, it traded positions with Intel, which dropped 5 percent.

Interbrand bases its assessment on a combination of the company’s financial performance, its role influencing consumer choices, and how well the brand lets a company charge premium prices and deliver profits.

“Every so often, a company changes our lives — not just with its products, but with its ethos. This is why…Apple now ranks No. 1,” said Jez Frampton, Interbrand’s global chief executive officer in a statement Monday. The report (PDF) added a cautionary note amid paragraphs of lavish praise: “The focus for the future is clear: Apple must succeed in slowing Samsung’s momentum and capture the booming Chinese mobile market.”

Apple surged from 36th place in the first Interbrand study in 2000 to the top spot in 2013. No. 2 Google is rising faster.

(Credit: Interbrand)

Apple had been No. 2 in the 2012 study of brand value, and Google was No. 4. IBM, previously No. 3, slipped to fourth place, and Microsoft stayed level at fifth place.

Samsung, which has gained prominence through consumer electronics and Android phones, rose from ninth to eight place with a 20 percent brand value in increase. That let it trade positions with Intel, which dropped 5 percent from the 2012 list.

Interbrand also calls out the companies whose brand value is rising fastest. There, Facebook came out on top, with a 43 percent increase in brand value over the last year. It ranks 52 on the overall 2013 list, up from 69th place in 2012.  Read full story from the source

Source: cnet.com

 

 

Nigeria signs power project agreement with China

Nigeria and China have signed an agreement worth $1.293billion (N 206.686 billion) on a major Hydroelectric Power Project.

Minister of Finance Ngozi Okonjo-Iweala, said, on Saturday at the signing ceremony, that the project, located in Zungeru, Niger State, is expected to generate 700,000 kilowatts or 700 megawatts of power.

She added that the contract awarded to two Chinese electric power firms, China National Electrical Equipment Corporation (CNEEC) and Sinohydro Consortium, was given a loan facility by the EximBank of China, with preferential conditions.

“The project will create thousands of jobs during the construction phase both directly and indirectly. A lot of Nigerian technicians, engineers and artisans and others will be employed during the construction phase,” added Okonjo-Iweala.She said the contractors are expected to finish work in 2018.

Chinese Ambassador to Nigeria, Deng Boqing, who signed the agreement on behalf of China’s government, said the Hydroelectric Power Project was significant to the Nigerian people, because it would contribute greatly to economic growth, meeting growing power demand as the West African nation ushers in a new period of industrialisation and urbanisation.

Source: Telegraphng

“China and Nigeria share the same dream, that is to bring prosperity and stability to the people, and these visions have been fully communicated by the leaders of our two countries when President Goodluck Jonathan visited China in July 2013.

“The construction of Zungeru Hydroelectric Power Station is one of the many consensuses reached by the presidents of our two countries. Today, the signing ceremony is the fruit of that state visit and we believe more concrete steps will be taken to further boost our already flourishing cooperation and enrich our strategic partnership,”

Deng said.“The contractors of this project, Sinohydro Corporation and China National Electrical Equipment Corporation (CNEEC) both reputed for professional experience and cutting-edge expertise, are top-ranking companies in the field of engineering and construction. I have great expectations for the two companies. It is their responsibility to ensure that all works are done with good quality as well as in a timely manner,” the ambassador said.

Eximbank will bear 75 percent of the cost of the project while a counterpart funding balance of 309 million dollars has been made available by Nigeria.

 

FG earmarks $8b for Gas-to-Power programme to boost electricity supply

The Federal Government has earmarked $8 billion dollars for the execution of the Nigerian Gas Master Plan with specific interest in meeting the gas-to-power demand in the country.

Vice President Namadi Sambo stated this in Abuja on Friday at a forum on investment in the power sector.

He said the programme would be jointly implemented by Nigerian National Petroleum Corporation (NNPC), Nigeria Gas Commission (NGC) and the private sector.

According to him, already $500 million dollars of the 1billion dollars realised from Euro-Bond would be utilized as counterpart funding for implementation of the project.

He said government had also embarked on an extensive programme for the upgrading of the nation’s power transmission capacity.

‘‘We are also implementing an extensive programme for the upgrading and expansion of our power transmission capacity.

‘‘We plan that before the end of 2014, we can transmit up to 10,000mw and by 2016 to transmit up to 20,000mw.

‘‘The total funding for this project is estimated by the Transmission Company of Nigeria (TCN) to cost about $3.7 billion.

‘‘I am pleased to inform you that funding for these projects has already been arranged.

‘‘$1.6 billion is coming from the sale proceeds of the NIPP/NDPHC ten new power plants, $500 million from the China-EXIM bank and the balance from the African Development Bank (AfDB), Islamic Development Bank and (from you) our local banks.’’

Read Full Story

Source: BusinessNews

CBN backs power reform with N109bn

The Central Bank of Nigeria (CBN) says it has disbursed over N109 billion to 20 companies in support of the ongoing power reform in the country.

The CBN Governor, Malam Sanusi Lamido Sanusi, disclosed this on Friday in Abuja at a Special Forum on `Financing the Power Sector Reforms for Economic Development’.

“The CBN provided 10 million U.S. dollar-grant to the Bureau of Public Enterprises (BPE) which is what financed the entire privatisation process.

“In the interim, we provided long term fixed single digit interest rate funds for power investments by manufacturers.

“We’ve disbursed over N109 billion to 20 companies and I believe we added about 500 mega watts of electricity generation capacity to this country,’’ he said.

Sanusi said the apex bank had reviewed potential guidelines recognising longer time formation for asset quality.

He also said that the CBN, in collaboration with the Ministry of Finance, was working to review the development financing institutions to create one institution that can finance development.

Sanusi said that lending for privatisation was the first step, but “the only way loan gets back to the banks will be if investment are made in the other value chain’’.

“If a bank puts money to fund a generating plant and the plant does not have gas, does not produce power, it will end up with a bad loan.

“Therefore, we need to look at all the investment going into gas, generation, metering, and transmission.

“I hope we recognise this as an important first and final step in financing the power sector,’’ he said. Read full story from source

Source: Vanguardng

Anti-apartheid icon Nelson Mandela sitting up and looking around, his grandson reveals

Nelson Mandela is now “sitting up and looking around”, his grandson revealed today.

The anti-apartheid icon is recovering at home after spending nearly three months in hospital.

Grandson Mbuso Mandela said he was doing “much better” and sitting up on his bed.

He added: “I saw him again yesterday at lunch. He is doing well.

“We are keeping him company.”

He stressed that Mandela, 95, is not completely bed-ridden.

Mandela is receiving intensive care for a respiratory illness at his home in Johannesburg where he returned after being discharged on September 1st. Read full story from source

Mirror.co.uk

Kebbi fights malnutrition with N175m

The Kebbi State Government on Thursday said that it spent N175 million on the purchase of drugs and treatment of malnutrition amongst children in the last one year.

 

Speaking in Birnin Kebbi, Muhammad Argungu, Director, Primary Health Care Services in the State Ministry of Health, said that the programme also involved the purchase of nutritional materials for the affected children.

 

It said the gesture was carried out in collaboration with UNICEF.

 

“The programme is presently conducted in 65 centres in 10 local government areas while 10,000 malnourished children have already benefited from it,” Argungu said.

 

He revealed that children living in border towns with Niger and Benin republics were also beneficiaries of the programme.

 

According to him, the state government had been releasing the sum of N100 million yearly since 2010 as its counterpart funding for the programme.

 

“The programme was introduced in 2010 in Kebbi to help in combating malnutrition amongst children, particularly in areas bordering Niger and Benin republics,” Argungu said

Source: Telegraphng

NUT Gives FG, ASUU 2 Weeks Ultimatum to Resolve Dispute

The Nigeria Union of Teachers (NUT) on Thursday gave a two-weeks ultimatum to the Federal Government and the Academic Staff Union of Universities (ASUU) to resolve the strike, embarked upon by university lecturers.
The NUT President, Mr Michael Olukoya, gave the ultimatum in Abuja at the end of the union’s meeting with teachers’ representatives across the country.

The News Agency of Nigeria (NAN) reports that ASUU, had on July 1, embarked on a strike it described as “comprehensive, total and indefinite’’
.
The lecturers are protesting the non-implementation of some issues, contained in an agreement the union had entered into with the Federal Government since 2009.

Olukoya said that members of the union would not hesitate to close down the nation’s schools, if the two parties failed to reach agreement after two weeks.

He described the current ASUU strike “as nationalistic, patriotic and self-sacrificing.
“We will not hesitate to shut down the education system in the country, if the government fails to fulfil or honour the agreement it entered into with the lecturers.”

The NUT president said that Gov. Adams Oshiomhole of Edo’s call for a complete over-haul of teachers’ qualification as unacceptable to the NUT.

Source: Thisdaylive