Tuesday, October 15, 2013

Nigeria going through biggest privatization phase in it's history

With over $3 billion proceeds from the privatisation of the 18 successor companies of the Power Holding Company of Nigeria (PHCN), Nigeria may have recorded the biggest ever privatisation transaction in global history.

The Director-General of the Bureau of Public Enterprises (BPE), Benjamin Dikki, gave the score sheet, in a keynote presentation to “The Nigeria Investors’ Summit” held in New York, United States of America, last week.

He noted that the Nigerian Government has been consistent in its policy to open up its economy and create the enabling environment for the private sector to thrive.

Dikki added that the present administration, in particular, has gone the extra mile in its efforts to create an environment conducive to attract private sector investments in infrastructure

He noted that the reform initiatives that were so far implemented by the Federal Government had worked; urging prospective investors to take an informed decision, as the upcoming reform initiatives would work.

He enthused that the world was waking up to the most attractive investment haven in the world – Nigeria— urging the investors that had missed the last tranche of investment opportunities, not to miss the next ones.

The Director-General said the first in the long list of upcoming opportunities are in the telecommunications and the transport sectors, stating that the NITEL and its frequencies are still available for sale in a guided liquidation process that will commence soon.

In the transport sector, he said that the railway, National Inland Waterways, Ports and Harbour, and National Transport Commission bills were ready and soon to be sent to the federal legislature for passage.

He revealed that the reforms in the housing sector had equally reached advanced stages; adding that with over 18 million housing deficit in the country, the Federal Government had made the reforms in that sector a priority.

The privatisation helmsman said the Bureau, in collaboration with key stakeholders, is currently reviewing the policies, legal and regulatory framework to attract private sector investments in the sector.

Said he: “We will harness the warehouses and silos all over the country and link them up to the trading platform for Warehouse Receipt Trading system. Once we make prices and buyers predictable, we have a mega boom in the making.”

Dikki said the planned reform in the Development Finance Institutions (DFIs) will commence with the privatization of Bank of Industry (BOI) and Bank of Agriculture (BOA).

He noted that on the reforms in the tourism sector, the BPE has begun the review of the policy, legal and regulatory frameworks for the sector to attract private capital into this tourism gold mine

He alerted the investors interested in the Oil and Gas sector that when the Petroleum Industry Bill (PIB) is passed, the Refineries will be available for privatization; adding that the network of oil and gas pipelines will also be available for concession.

Written by Roseline Okere

GUARDIAN

Nigeria team bus attacked post World Cup qualifying match in Ethopia - Player injured

Nigeria's Nosa Igiebor was injured on Sunday when the team's bus was attacked in Addis Ababa after their World Cup play-off first-leg against Ethiopia.

The Real Betis midfielder needed emergency treatment on his palm after the bus windows were shattered as the team left the Addis Ababa ground.

Nigeria, who won the match 2-1, have reported the incident to Fifa.

"We hope Fifa will take an action," Nigeria Football Federation (NFF) vice-president Mike Umeh told BBC Sport.

"It's a shame that such an embarrassing behaviour could happen after a football match."

Ben Alaiya, the Super Eagles media officer, joined Umeh in condemning the actions.

Alaiya said in a press statement that fans attacked the team bus with stones after the match and one of the heavy stones shattered the rear windscreen of the bus, sending all inside the bus scampering for safety.

"Igiebor was the unlucky one as the stone slashed his right palm leading to profuse bleeding that was immediately attended to by team doctor, Ibrahim Gyaran," he wrote.

Nigeria are favourites to progress to their second straight World Cup when the two sides meet again in Calabar on 16 November.

Tuesday, October 8, 2013

Charges against Russians attempting to traffic guns in Nigeria dropped

The seven were among 15 Russian sailors charged with illegally bringing weapons into Nigeria last year, after Nigerian authorities intercepted a ship on October 23 and found on board several guns and thousands of rounds of ammunition.

Confirming the verdict, defense lawyer Ogidigba Mobosa also told Reuters TV that two Nigerians who had been aboard the ship had been charged with wrongfully telling the Russians they had permission to enter Nigerian territory with the weapons.

The boat was operated by Nigerian shipping company Blue Sea Maritime.

Arms smuggling to and through Nigeria is rife, with demand fuelled by an Islamist rebellion in the north and by armed robbery, kidnapping, oil theft and piracy in the south.

Nigeria is also sometimes used as a conduit for shipping arms to other conflict-ridden parts of West Africa.

Shippers complain that a lack of permission for armed private security leaves them vulnerable to pirates. West Africa has overtaken Somalia's coast as the region of the continent worst affected by piracy, experts say.

During the court hearings, the Russian sailors did not explain why the arms were on board their ship.

REUTERS

Related stories: Video - Russia wants Nigeria to release arrested sailors

Thursday, October 3, 2013

Plane crash in lagos leaves dozens dead

A plane carrying 20 people has crashed shortly after take-off from Lagos airport in Nigeria, officials say.

A rescue operation is ongoing. At least 13 people are known to have died and several more of those on board were injured.

The Associated Airlines plane was bound for Akure, which lies about 140 miles (225km) north-east of Lagos.

The plane's engine appeared to fail and the aircraft plunged to the ground and burst into flames, officials said.

The charter flight took off at about 09:30 local time (08:30 GMT) from the domestic terminal at Lagos's Murtala Mohammed International Airport.

Officials said the plane crashed on to open land within the airport complex, close to a fuel storage depot.

It is not yet clear whether the fuel caught fire.

Eyewitness Ahmad Safian told the BBC: "I heard a loud bang and then there was lots of black smoke. The security forces rushed straight to the scene. I saw three bodies removed from the wreckage."

Mr Safian said the road to the airport was blocked for a short time but operations were continuing as normal at the airport.

Yakubu Dati from the Nigerian airports authority said that 20 people had been on board the plane.

Akure is the capital of Ondo state. Local media reported that the plane was carrying the body of the former state governor, Olusegun Agagu, who was to have been buried this weekend.

Although Nigeria's air safety record has improved in recent years, the country has a history of major passenger plane crashes.

In June 2012, more than 150 people were killed after a dual engine failure caused a plane to crash in Lagos.

Lagos airport is a major hub for West Africa and saw 2.3 million passengers pass through it in 2009, according to the most recent statistics provided by the Federal Airports Authority of Nigeria.

BBC

Tuesday, October 1, 2013

Video - Security stepped up after Boko Haram attack on College in Northern Nigeria


Nigeria is stepping up security at schools in Yobe state. Dozens of students are in the hospital following an attack on their college that left at least 50 dead. The army says the students were shot as they slept by Boko Haram fighters.