Tuesday, October 4, 2016

GE to invest $150 million in Nigeria

U.S. industrial firm General Electric (GE.N) plans to invest around $150 million in Nigeria by 2017, a senior executive said on Monday.

"There are development projects where we are investing," Jay Ireland, chief executive of General Electric in Africa told the FT Africa Summit in London. GE would also invest in oil and gas industry projects.

Growth in Nigeria - an OPEC member whose economy, the largest in Africa, is in recession for the first time in more than 20 years due to low oil prices - has been stunted for decades by a lack of investment in its road and rail network.

Ireland said the Nigeria investment was part of a plan to spend $2 billion in Africa in coming years.

But the $150 million Nigerian investment falls short of the sum Nigeria's government has said GE would invest.

President Muhammadu Buhari, on Saturday in a speech marking Nigeria's independence day, said GE was "investing $2.2 billion in a concession to revamp, provide rolling stock, and manage" some of the country's railway lines.

Nigerian actress banned after on-screen hug

A leading Nigerian actress has been banned from the Hausa-language film industry because of her "immoral" behaviour, the main industry body says.

Rahama Sadau caused offence by "hugging and cuddling" pop star Classiq in a video, it added.

The industry, commonly known as Kannywood, has been under fire from conservative Muslim clerics who accuse it of corrupting people's values.

They regard it as taboo for men and women to hold hands or kiss in public.

Ms Sadau, who is said to be on a holiday in India, has not yet commented on the ban imposed by Motion Pictures Practitioners Association of Nigeria (Moppan).

Its chairman, Muhammadu Kabiru Maikaba, told the BBC Hausa service that the ban was "total".

"This is not the first time that she has been doing these wayward things. We have been warning her, but she still went ahead to dent our image," he said.

The Kannywood star appeared in the video with Classiq, in a song entitled I Love You.

In it, the Nigerian pop star is smitten with a vegetable seller in a market, acted by Ms Sadau.

Initially, she rejects his advances, batting him away with a bunch of vegetables, but he eventually wins her over.

They hold hands and engage in a bit of cuddling that would be considered demure in a Western film.

In a statement, Moppan said it hoped Ms Sadau's expulsion would serve as a deterrent for other actors.

Its code of conduct requires actors to avoid doing anything which violates Islamic and Hausa culture, reports the BBC's Isa Sanusi from the capital, Abuja.

Many people in northern Nigeria felt she had gone too far with Classiq in the music video, he adds.

Classiq cannot be banned because he is not a member of Moppan.

Monday, October 3, 2016

Video - Nigeria marks 56 years of independence




Africa's most Populous Nation, Nigeria, rolled out drums to celebrate its 56th Independence Anniversary. However, it was a Low keyed Ceremony held at the Presidential Villa.

Friday, September 30, 2016

Video - Niger Delta Greenland Justice Mandate claims responsibility



Nigerian militant group the Niger Delta Greenland Justice Mandate has claimed responsibility for the latest attack on a pipeline in the oil-producing region. The Niger Delta has been plagued by vandalism, which has seen the country's oil production plummet. Together with other economic factors, it's plunged Nigeria into a recession.

Thursday, September 29, 2016

Video - MTN denies it repatriated $13.92 billion from Nigeria




Telecoms giant MTN has denied accusations of illegaly moving $13.92 B out of Nigeria, saying the claim has no merit. The allegation threatens to raise tensions between Nigeria and MTN, yet again. It's just three months since the company agreed to pay a reduced fine of $ 1 B, for failing to have cancelled millions of unregistered SIM cards. MTN is the largest mobile phone operator in Nigeria, and the country accounts for around one third of MTN's revenues. The company had threatened to pull out of Nigeria during the unregistered SIM card dispute. MTN shares fell by over 3% on Tuesday. So far this year, MTN's JSE-listed share are 10% lower.