Chinese investors to establish granite quarries, sugar cane plantation in Nigeria

A group of investors from China's Shan Dong Province has said that the Shan Dong Province would establish granite quarries and sugar cane plantation in Ekiti State as soon as necessary formalities were completed.

Speaking during a meeting with the state governor ,Engr.Segun Oni, over the weekend, leader of the Chinese team,Mr. Zhang Zhi Lin, who said his team was in the state to assess its business opportunities disclosed that his organisation had already established a mega quarry worth N2 billion in Ibadan , the Oyo State capital.

Mr. Lin who said that his team was impressed with what it has seen, stressed their readiness to join hands with the state government in its quest to turn the economy of the state around.

On his part, the governor assured the investors that his administration would continue to provide the necessary incentives for any one wishing to invest in the state.

He said his administration was walking tirelessly towards making Ekiti a haven for investment through the provision of good network of roads, world- class infrastructure, as well as safe, secure and investment friendly environment

Oni further disclosed that apart from taking steps to complete the long abandoned 132/33Kv sub- station in the state capital, his administration had concluded plans to establish six injection sub - stations as part of steps to boost electricity.

Governor Oni urged the august investors to take advantage of the abundant human and material rersources as well as favourable business climate in the state.

Leadership

Related stories: China invests $6 billion in Nigeria

Chinese firm to manage Nigerian airport

China to cremate 21 Nigerians if bodies are not claimed by December 15

Video report of Nigerians rioting in China

Shell to sell off estate in Delta state, Nigeria

Shell Petroleum Development Company (SPDC) may have decided to sell its multi-million naira sprawling residential estate located in Edjeba, Warri, Delta State.

The company attributed the plan sale to sell off the estate to paucity of fund as it can no longer afford the high cost of its maintenance.

Occupants of the estate have also given quit notice to vacate the building to enable the company estate management carry out valuation of the properties.

A resident of the estate, who feel very concern about the decision of the SPDC management to sell the estate, said, it will not be easy to vacate such a secured area and get exposed to rancourous and insecure environment in the metropolis.

It would be recalled that SPDC had in recent time been making move to halt its operations and investments in Nigeria.

Shell Chief Executive, Peter Voser was recently quoted as saying in the company website, "The company has lost confidence in its Nigeria operations and no longer depends on the country in oil and gas output."

Shell, which has maintained its leadership position in the oil and gas sector in Nigeria since 1958 has recently made move to sell 10 of its Nigerian on-shore oil assets worth between $4 billion and $5 billion.

It was gathered that China National Petroleum Corporation has been reported as a possible buyer of the assets, as the company have shown enough interest to enter the Nigeria oil exploration industry.

The decision by Shell to move out of Nigeria may not be unconnected with high rate of militancy, kidnapping, violence and sabotage of its oil facilities in the Niger Delta region.

Shell production output went down from 300,000bpd to 120,000bpd in the height of violence crisis in the region; this greatly affected the company revenue.

Despite the amnesty granted militants by President Umaru Musa Yar'Adua in 2009, four expatriate workers with SPDC were kidnapped last week in Port-Harcourt by unknown gun men.

Daily Champion

Related stories: Shell plans to sell about $5 bln worth of assets it has in Nigeria

Video - U.S. vs China for Nigeria's oil

Chinese in $3b battle to buy Shell assets in Nigeria

Video - Oil War

Nigeria to assist Haiti

Vice President Goodluck Jonathan yesterday expressed condolences to President René Préval and the people of Haiti over the devastating earthquake in the country's capital, Port-au-Prince.

In a statement signed by the Senior Special Assistant to the Vice-President on Media and Publicity, Mr. Ima Niboro, Jonathan expressed Nigeria's sympathy with Haiti, noting that Nigerians shared in the grief of their Haitian brothers and sisters.

He said the international community can count on Nigeria's support on the rebuilding of Haiti.

Also Minister of State for Foreign Affairs Alhaji Jibril Maigari yesterday said Nigeria will donate food items and other relief materials to the people of Haiti who were hit by earthquake.

Maigari told the BBC Hausa service that no Nigerian died in the disaster, adding that the country has been assured by the United Nations that all the 120 Nigerian Police officers serving in the UN peacekeeping mission in Haiti are safe.

Also in a statement issued in Abuja, he said the ministry has been in touch with Nigeria High Commissioner to Jamaica Mr Peter Oyedele who was in Haiti to monitor the situation and confirmed that no Nigerian died in the unfortunate incident.

The minister said Nigeria commiserates with the people of Haiti over the 7.0 magnitude earthquake that claimed over a thousand lives and rendered thousands homeless.

"The Government of the Federal Republic of Nigeria expresses its condolences to the President and People of Haiti on the devastating earthquake," the minister said in a statement issued in Abuja.

Meanwhile, the Food and Agricultural Organization (FAO), the World Food Program (WFP) and other United Nations bodies are monitoring the distribution of food and other relief materials to Haitians after the country was devastated earthquake on Tuesday.

FAO said it is "closely monitoring the situation on ground to get a clearer picture on the immediate impacts of food security and food production" as they deal with emergency food aid and nutrition.

Daily Trust

India plans $1.5 trillion investment in Africa

 Strong indications emerged yesterday that the government of India plans to invest a whooping sum of $1.5 trillion on infrastructural development in Nigeria and other parts of Africa in the next 10 years.

India's Minister of Commerce and Industry, Mr. Anand Sharma, who made the revelation at an exhibition and India-West Africa Business Forum in Lagos, pointed out that bilateral trade between Nigeria and India has for several years been in excess of $10 billion in favour of Nigeria.

He remarked that five out of the 12 fastest growing economies in the world are domiciled in Africa; a continent which he said is richly endowed with natural resources.

Commending the conveners of the forum, the President of ECOWAS Commission, Dr. Mohammed Ibn Chambers, noted that the event could not have come at a better time, when most nations are emerging from economic failures arising from the global economic recession.

According to him, the 15 countries in the West African sub-region with a combined population of well over 280million people, Africa remains a major economy that must be taken seriously, noting that the continent is blessed with skilled manpower, favourable climate that can be harnessed as an alternative to power and good forest reserves suitable for the pharmaceutical industry.

Also speaking, Nigeria's Minster of Commerce and Industry, Chief Achike Udenwa, noted that India has a lot of success stories that West Africa can learn from, adding that the opportunity the forum avails would go a long way to assist the region in its collective efforts to enhance production capacity and diversity the economic base through the injection of new ideas and technologies, as well as best global practices.

In his opening remark, Vice President Goodluck Jonathan, challenged the forum to come up with proposals that would be of mutual benefit between Nigeria and the government of India.

Jonathan, who was represented by Governor Babatunde Fashola of Lagos State, said India holds the ace in the area of education and medical science and recalled the role Indians played in the education of many Nigerians.

 Leadership

Related stories:China invests $6 billion in Nigeria

Video - investing in Nigeria

Video report on growing middle class in Nigeria

Gunmen kidnap director in Abuja

Twelve days after his kidnap by unidentified gunmen in Abuja, an assistant director with the National Planning Commission Chief Oluwole Adelana is still missing and his abductors have not yet contacted his family.

Adelana was grabbed at the Garki Area 1 of Abuja at about 10pm on January 3, while he was on his way back from his hometown Idoani in Ose Local Government Area of Ondo State, a family source told Daily Trust yesterday.

Investigations by the FCT police special anti-robbery squad led to the finding along Damaturu-Maiduguri road of the burnt remains of the Toyota Camry car in which Adelana was kidnapped, the source said.

Daily Trust learnt that at least two persons were being questioned at the anti-robbery squad office in connection with the kidnap.

Sources said a friend of Adelana's witnessed the incident and immediately contacted another friend of theirs, who later informed the victim's family about the kidnap. The family in turn reported to the police same night.

The abduction of Adelana was confirmed yesterday by his cousin, Mr Duro Aderobagun, who said that the family was worried especially because no one has yet contacted them for ransom or with information on the missing assistant director.

FCT police public relations officer Jimoh Moshood said he had not been briefed on the matter.

When asked who the family reported the case to, the victim's cousin Aderobagun said the incident was reported to the special anti-robbery squad, and the National Planning Minister had also written to Inspector General of Police Ogbonna Onovo on the kidnap.

But deputy public relations officer at the police force headquarters in Abuja, Mr. Yemi Ajayi, said he was not briefed on whether the IG received a letter from the minister.

A police official, who would not want to be named because he was not in a position to speak to the press, told Daily Trust that the matter was duly reported and was being investigated.

Adelana had served at various times in the office of the Accountant-General of the Federation and the Millennium Development Goals in Abuja.

Daily Trust

Related stories: Kidnapping culture on the rise in Nigeria

Pete Edochie shares his experience of being kidnapped

American doctor kidnapped in Nigeria sympathizes with his abductors