Naija News Gossip Gist

Naija News Gossip Gist

President Muhammadu Buhari yesterday in Guangzhou, China said his government would take urgent steps to restructure Nigeria’s market by encouraging 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 local businesses, foreign investors and the Chinese government for efforts to diversify the nation’s market.

Other deals announced and signed during the visit, in accordance with the statement, include 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 petrol facilities.

It further stated that an arrangement, valued at downstream industrial park in Kogi State and $363 million for the establishment latest naija news update of a comprehensive farm was also announced at the Nigeria-China company forum.

Moreover, arrangements undergoing discussions include a $500 million project for a $25 million facility for creation and the supply of television broadcast equipment of pre-paid smart meters between Mojec International Limited and Microstar Company Limited.

"This time we will be more purposeful. The authorities and companies will be involved," Buhari said. In his comments, the Secretary of the Communist Party, who's also the Governor of the Guangdong Province, latest naija news today Mr. Hu Chinhua, vowed that the area would support the execution of all the bilateral agreements reached with the Chinese government during Buhari’s visit.

The statement included that Buhari also seen the Sino-Singapore Knowledge City in Guangzhou, "which showcases progress by China in medical, science and technological innovations."

The naija latest news and gossip 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 added investments to Nigeria surpassing $6billion.

Buhari said the several agreements concluded with the Chinese would have a positive and tremendous impact on key sectors of the Nigerian market, including rail transportation, solid minerals, agriculture, home and power.

"In the electricity sector, North South Power Company Limited and Sinohydro Corporation Limited signed an agreement valued at $478,657,941.28 million for the building of 300 megawatts solar power in Shiriro, Niger State."

"In the solid minerals sector, Shanghai Shibang and Granite and Marble Nigeria Limited signed an agreement valued at 55 million dollars for the construction and equipping of granite mining plant in Nigeria."

Based on the statement, a total of $1billion is always to be invested in the development of a greenfield expressway for Abuja-Ibadan-Lagos under an arrangement reached by the Infrastructure Bank and Sinohydro Corporation Limited.

It further said that both companies additionally secured a $250 million deal to develop an ultra modern 27-storey highrise complex and a $2.5 billion agreement for the development of the Lagos Metro Rail Transit Red Line project.

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

Brewer said the venture was a franchise of a, and made the disclosure at the launching of a fitness centre possessed by the company at Zone E, Abuja, Apo Legislative Quarters

She said "Curve Fitness Centre in Abuja creates the opportunity to strengthen a brand new fitness franchise business in Nigeria and to boost well-being" and female fitness

She said that the center which began in 2014 in Lagos would be targeting to start about 200 additional centers across the country.

According to the envoy, the fitness centre created by the business has 7,000 factory outlets in 94 nations of the world.

She identified balanced diet, personal hygiene and healthful lifestyle that was great for longevity of life as panacea.

Guest Speaker Pastor Tunde Bakare, at the occasion, lauded the initiative of the company for setting such centre 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 Supervisor of the centre, Mrs Peace Elimimian, had expressed optimism the centre would influence meaningfully on the lives of girls.

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

The class which was began eight years ago by NIPSS is targeted at creating a vital means of getting technocrats involved in policy making for national growth.

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

According to him, corruption is more prevalent where there's poor value orientation, bad governance and systemic failure.

He stressed that it was regrettable that it still continued, as the legislations appeared to not be helping the problems.

The ICPC boss, hence, called on the legislature to review corruption laws in the state to ensure greater operation, efficacy and deterrence.

He said that though public awareness was the commission was merely engaged in prosecuting corrupt government officials on account of the thoughts attached to it, it was focusing on other corrupt practices.

These, he said, comprised land administration in the Federal Capital Territory (FCT) and the monitoring and execution of specific 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 presently investigation a state where public funds were transferred into three different bank accounts, including the details would be made public in due time.

He further said that the commission had so far recovered billions of naira in cash and naija. news forfeited assets, stressing that it was additionally conducting study that was systemic in some conditions in some universities.

He said the measure followed reported cases of student harassment in some universities in the state.

Nta added that ICPC was also reviewing the nation’s primary health care strategy in collaboration to address its decay through the years.

He also said that insufficient protection of whistleblowers and threats to officials were some other challenges confronting the commission.

The latest naija entertainment news Agency of Nigeria (NAN) reports that the class participants were drawn from the military, the Police and other government agencies.

The 21st session of the course focused on corruption in the state and the indices driving it.

In a statement issued on Saturday, the observation was made by Adeosun at the continuing Spring Meetings of the IMF-World Bank to 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 direct the nation back on course for stable growth with a diversified market.

Adeosun insisted that what the country was passing through was not insurmountable because government was already employing a "cocktail of measures to address the dilemma.

"Nigeria is just not sick. The real vulnerability in the Nigerian market is over-reliance on a single source of earnings; oil.

"We have concluded to develop resilience into the country’s economy to hedge against future oil shocks. It is because reliance on oil brings about laziness and susceptibility.

"So, we are doing a mix of things to diversify our market, with earnings mobilisation to empower adequate investment in developing the non-petroleum sectors.

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

"The convincing business case in Nigeria is that the fundamentals remain very strong, a teaming, growing people that is young, rich in resources and with a government decided to finally get it right.

The wonderful thing is that this is recognised by long term investors and comprehend the difference between short term and long term problems and the case for Nigeria convinces one to plan for the longer term opportunities,’’ the statement quoted her as saying.

Fayose urges China not to grant $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.

President Muhammadu Buhari’s visit to China this week was to discuss the development of the nation’s infrastructure, including a $2 billion loan for railway undertakings.

In the letter dated April 12, 2016, with reference number: EK/GOV/28/10, addressed to President Jinping and presented by Fayose’s Chief of Staff, Mr. Dipo Anisulowo, in Abuja yesterday through the Chinese Ambassador to Nigeria, Gu Xiaojie, the governor said some of the jobs for which the loan was being sought were not captured in the contentious 2016 budget, which has been sent to President Buhari by the National Assembly for his assent.

The letter reads in part: "I write as one of the major stakeholders in the project Nigeria, and a governor of one of 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 finance the 2016 budget, which will be yet to be signed by the President, Muhammadu Buhari, owing to unending controversies between the Executive and Legislative arms of authorities."