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October 27, 2010

In an attempt to diversify their service offerings and to compete effectively, hotels across Nigeria are expanding their services towards conference venue services. ABN's Keisha Gitari reports from Lagos
 

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Student Architect جاري&#15
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Nigerian Cement Demand to Rise 45% Amid Construction Boom, Stanbic Says

Demand for cement in Nigeria, sub- Saharan Africa’s second-biggest economy and the continent’s most populous nation, is expected to rise 45 percent in 2010, Stanbic IBTC Bank Plc said.

Output of the building material may increase 63 percent this year, while demand will surge to as much as 47.9 million metric tons a year by 2014, Lagos-based analysts including Tomi Ajai, Bunmi Njugo and Esili Eigbe wrote in an e-mailed report dated Oct. 27.

“Nigeria is one of the lowest cement-consuming countries in the world,” with 17.4 million tons consumed in 2009, representing 116 kilograms (256 pounds) per person compared with 325 kilograms each in the developed market and 550 kilograms in developing markets, they said.

Demand is being driven by a construction boom as the country, Africa’s top oil producer, embarks on the provision of houses, schools, roads and bridges for its 150 million people. Local demand for cement is expected to increase as government revenue climbs due to higher oil prices, Lagos-based Access Investments and Securities Ltd., a unit of Access Bank Plc, said in a research note in May.

Nigeria expects to attain self-sufficiency in the production of cement and become an exporter in 2013, when production is forecast to reach 22 million metric tons, compared with the government’s projection of domestic demand at 20 million metric tons, Commerce and Industry Minister Jubril Martins-Kuye said Sept. 30.

Capacity Expansion

Domestic producers such as Dangote Cement Plc, Africa’s biggest producer of the material, Lafarge SA’s local unit, Ashaka Cement Plc and Cement Company of Northern Nigeria Plc, are expanding their plant capacity to meet rising demand.

Lafarge WAPCO Nigeria Plc’s price estimate was raised to 48.5 naira, from 42.5 naira, while its recommendation was maintained at “hold,” Stanbic said.

Ashaka’s rating was reduced to “sell” from “buy,” with a price estimate of 25.3 naira, according to the report.
http://www.bloomberg.com/news/2010-...e-45-amid-construction-boom-stanbic-says.html
 

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Student Architect جاري&#15
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Student Architect جاري&#15
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Plants to Add 11,000 Megawatts to National Grid, Underway - Akano

A new solution that may take electricity supply in Nigeria to the next level has been uncovered by the Green Word Water Africa.

The process, which involves Desalination plants, according to the African representative of the company, Tim Kayode Akano, will add 11,000mw to the national grid in the next three years.

The new technology drive according to Akano, will also fetch the country about $45 billion and about one million jobs when fully operational.

The epileptic power supply which is currently at between 3,000 and 3,500 mw is a far cry from the expected 40,000 mw, thus making economic activities hard and has easily affected every aspect of our lives in Nigeria.

UNICEF, recently reported that more than 70 million Nigerians lack access to clean water, nearly 100 million people have no latrines or toilets. The lack of clean water and proper sanitation means that waterborne diseases like typhoid, guinea worm, cholera, malaria, and diarrhea can easily spread. This equally calls for solution through provision of potable water. Cases of such epidemiological diseases have been reported in some parts of the country.

It is against this background that Green World Waters Africa (GWWA), a subsidiary of AEHI Inc USA, in partnership with China National Nuclear Agency, has proposed a solution that is capable of eliminating the aforementioned challenges within the shortest possible time.

With the desalination plant Akano said the following landmarks will be achieved between now and the next 36 months including the immediate creation of 100, 000 jobs

" This solution will not only provide sufficient and stable electricity, it will supply clean potable water. This is also an ideal electoral tool to get the mandate of the teeming Deltans."

Nigeria currently spends $13billion yearly to power diesel generators with its concomitant pollution of the environment.

Supply of electricity is the biggest challenge confronting Nigeria today. 60 per cent of industries (according to MAN) have closed down between 1999 and 2010 (from 4,000 in 1999. MAN has only 1,900 members today.)

This leads to mass unemployment. According to the Ministers of Education and Labour, 40, 000, 000 Youths are currently unemployed. This further leads to crime and unrest (high rate of kidnapping, ritual killings and social unrest)

Consequently, Foreign investors through Foreign Direct Investment (FDI) are further driven away due to social and political instability (Real or perceived).

Whereas the Country will require up to 40,000 megawatts to achieve the vision 20.20. economic development, the current generation is below 6000 megawatts
http://allafrica.com/stories/201011090856.html
 

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Federal Housing Authority to Build 100, 000 Housing Units

Mustapha Suleiman

17 November 2010

Managing Director of Federal Housing Authority, Mr. Terver Gemade, has unveiled plans by his organisation to provide 100, 000 affordable Housing Units within four years to assist in closing the huge 16 million deficit gap, currently characterising the country.

Gemade unveiled the plan during a stakeholders' forum on the provision of 3 million affordable housing units for public servants on Tuesday, in Abuja.

"We have planned to develop a 100, 000 housing units within four years, which is a programme that has never been done before and quite huge for our organisation alone.

"Ours is not a dream, it is a reality because the 100, 000 housing units have been determined based on our resources and capability, which has been divided into short, medium and long term basis within the targeted period.

"Also, we have already set the first phase of 14, 000 housing units running within the first year and have even commissioned few estates of over 1, 000 houses and others are still ongoing which we hope to commission any time from now," he said.

However, he expresses dissatisfaction over the frequent changes of government policies and lack of continuity by various administrations, blaming such action as one of the major setbacks responsible for the failure of housing development in the country.

"There must be continuity in government, but unfortunately, the people who come into the positions of policy making do not keep that sustainability, which is the biggest problem facing the housing sector," he said.
allAfrica.com
 

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Jonathan Promises 20,000 Megawatts By 2015

Mohammed S. Shehu

18 November 2010

Domestic power generation in this country would rise to 20,000 megawatts by 2015 and would meet the needs of manufacturing industries many of which currently generate their own power, President Goodluck Jonathan said in Abuja yesterday. He spoke while presenting his administration's blueprint on power, agriculture and Niger Delta to former British Prime Minister Tony Blair and the Chief Executive Officer of JP Morgan Bank of the USA, Mr. Jamie Dimon. He also vowed to implement the action plans to their logical conclusion.

Jonathan told the visitors at the State House, Abuja, that if his administration's plans for the power sector are fully implemented, Nigeria should be generating enough power for use in homes, offices and commercial enterprises by April next year.

He also briefed them on his administration's efforts to boost agricultural production in the country through large scale commercial farming as well as measures being taken to sustain peace in the Niger Delta. He said the Federal Government was also tackling challenges in the area of power transmission and that it intended to move as quickly as possible on the construction of a new National Power Transmission Super-Grid to replace the existing grid which can no longer meet the nation's power transmission needs.

He told Blair and Dimon that Nigeria would welcome support from international finance organizations and global banks such as JP Morgan through long-term financing for the super-grid project which is critical to assuring the sustainability of stable power supply in the country.

Blair told Jonathan that there was a huge amount of goodwill in the international community towards supporting his efforts to achieve rapid socio-economic development in Nigeria. The former British Prime Minister said the decision by JP Morgan, one of the world's largest banks, to upgrade its representative office in Nigeria to a full-scale branch was a vote of confidence in Nigeria and the Jonathan administration.

Also yesterday in Abuja, Jonathan received the Foreign Minister of the Russian Federation Mr. Sergey Lavrov, who is in the country to follow-up on the implementation of bilateral agreements signed during President Dmitry Medvedev's official visit to Nigeria last year. Jonathan assured Lavrov that his administration will do all it can to facilitate the implementation of the agreements and the expansion of areas of economic cooperation between Nigeria and the Russian Federation.
allAfrica.com
 

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Bayelsa Govt Releases Funds for Project Completion

Osa Okhomina

15 November 2010

Yenagoa — Business activities in Bayelsa State have started showing signs of life with the return of contractors handling development projects for the state government.

This follows the release of needed funds for the completion of projects including the 500-bed Melford Okilo Memorial hospital in the state.

Other projects expected to be completed before April 2011 are the five star , the State Library and the Ijaw National Council (INC) secretariat building, the completion of the power projects and the Yenagoa Water Reticulation plant.

Already, the State Governor ,Chief Timipre Sylva has announced that the sums of N600million and N300million respectively have been realised for the completion of the power project and the Water reticulation. Also released was the sum of N1billion for the completion of the State Government owned Five star hotel at the Ox-Bow lake area of the state capital.

LEADERSHIP check at some project sites in the state showed signs of activities as workers were ordered back to site by contractors who had been paid the outstanding funds by the State Government. Investigation revealed that the payment was made possible due to the improved allocation to the State from the Federation account.
allAfrica.com
 

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Dual Initiative Steps up Ondo Housing Provision Drive

Michael Simire

14 November 2010

Ondo State is utilising a two-pronged approach towards making available dwelling units for needy residents as well indigenes at home and in the Diaspora.

Under private partnership participation (PPP) arrangement on one hand, no fewer than four firms are involved in plans to build a considerable number of homes, courtesy of financial assistance from the National Housing Fund (NHF) scheme's Estate Developers' Loans (EDL) lending window.

The firms are Aso Savings & Loans Limited, Locke Homes Limited (LHL), Union Homes and Afri Homes.

On the other hand, a state housing scheme being executed by the Ondo State Property Development Corporation seeks to provide 36 units of three-bedroom duplexes at the cost of N360 million along Oda Road.

Thirty-six contractors are involved in the project and work is expected to formally commence this week.

The PPP endeavour features three different schemes. One of them is "Sunshine Gardens", which is being built at Oba-Ile in Akure (the state capital) by LHL. It comprises 100 units of two- and three-bedroom detached bungalows valued at N2.75 million (Starlet Type) and N3.5 million (Diamond Type) respectively.

However, a three-bedroom bungalow variant (Liberty Type) that has all the rooms ensuite goes for N5 million.

A N360 million contract for the electrification and construction of a road network in the estate was awarded recently. Finishing touches are being put on the about 350 units already built and they will be officially unveiled in February 2011, according to Alhaji Sikiru Basaru, the Lands & Housing Commissioner.

The estate displays ceramic and PVC floor finishing, suspended ceiling, boys' quarters, police post, fencing and beautification.

Work commenced on the project in May 2009, same as "Odah Road Estate", the second PPP scheme being built by the Abuja-based Aso Savings & Loans Limited. The estimated 110 units are at various stages of construction.

The estate is being built and executed with a concept similar to the Oba-Ile project, where aspiring beneficiaries are expected to pay 10 percent of the total unit cost as initial deposit. Beneficiaries can also make outright payment.

The two estates also provide for boreholes, paved walkways, car parks, water treatment plants, shopping malls, street lighting, green areas, transformers, estate security and recreational centres.

Tagged "Caring Heart Garden Estate", the third PPP project will provide a total 364 homes. Basaru said that government would soon call for tenders to execute electrical and roads construction contracts in the estate.

According to him, government has prepared a land bank comprising land resources allocated for various uses.

"Land is not a problem in the state as most have been acquired since 1976," the commissioner disclosed, saying however that the ministry refused to embrace site and service schemes as it found such unprofitable.
allAfrica.com
 

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Rivers to build free trade zone

Rivers to build free trade zone
Friday, 19 November 2010

RIVERS State government is to build its own free oil trade zone christened the Port Harcourt Energy City, in partnership with some foreign investors at Ikpokiri Island.

The city which when completed, will be an integrated mixed-use (work-in, live-in) and very well secured oil and gas free trade Island with international standard infrastructural facilities to attract some of the world’s largest companies and fabrication yards.

The Special Assistant to the State Governor on Investment, Abiye Amakiri, explained that the city shall be promoted as an industrial and manufacturing base/hub but shall not ignore, from experience, the most significant source of revenue stream the small office, start-up investor.
Amakiri said the proposed location is the Ikpokiri Island with a surveyed landmass of well over 2,000 hectares. According to him, with confirmed water depth levels, Ikpokiri provides direct access to the Atlantic and sits atop a huge gas reserve.

He explained that the area, which the city is to be sited is already a designated oil & gas free zone area by federal law (Onne Oil & Gas Free Zone Act No. 8 of 1996) and it is adjacent to the existing OGFZ complex and so shall complement rather than compete with it.

The governor’s aide said the development of the complex is to be done jointly between the state and a competent private sector foreign/technical partner on a Public Private Partnership basis.
He explained that the government has signed MOU with Development Services International (DSI) Limited for the joint development of the Energy City. DSI is a foreign entity with experience in free zone development and financing.

The Port Harcourt Energy Development Company Limited is being set up by all parties with RVSG holding 30 per cent and private sector investors to take up 70 per cent.

He said initial but exploratory meetings have been had with some prospective equity and debt financiers and this includes Afrexim Bank in Cairo, Egypt. The level of interest, subject to proper appraisal, has so far been encouraging.

Amakiri said the project delivery time frame for Phase 1 development is three years from January 2011.

He said Rivers State Government shall acquire and provide to the venture the Ikpokiri Island, while the foreign technical partners shall source for and make available the funding for the various phases of the development and to aggressively market and attract industries to the zone
“And because it is mixed-use, in addition to the port facility, warehouses (with specialized terminals such as RoRo), fabrication yards and stacking bays, it shall have residential estate area (to be called Harbour City), hospitals & sick-bays, international schools, research citadel…The City shall be linked to the state’s gas pipeline network with connections to a refinery project and the power generation station with related transformers battery,” he said.

Amakiri said a compilation of the incentive regimes of the world’s over 5,000 free zones have been compiled to guide the state in developing its own regime. The state regime of incentives, he pointed out, shall be in addition to the ones on offer already by the Federal Government.



http://ngrguardiannews.com/index.ph...-free-trade-zone&catid=31:business&Itemid=562
 

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Kano Gets N3.8bn Medical Centre

Kano Gets N3.8bn Medical Centre
From Ibrahim Shuaibu in Kano, 11.20.2010


Kano State Government and Pfizer Inc of the United States are to build a N3.8 billion medical centre in Kano in furtherance of the duo’s out-of-court settlement deal over the 1996 controversial Trovan clinical test in the state.


Chairman of the Board, Professor Shehu Galadanchi told reporters in Kano yesterday, that an important follow up from the negotiation between the state government and Pfizer Inc. is a large funding to the tune of $25.5 million (N3.8bn) for the building of an ultra modern medical centre, the first of its kind in Nigeria and indeed the West African sub-region.


He said the medical centre when completed will have a state of the art equipment for the diagnosis and treatment of many conditions, including cancers and serious life threatening infectious disease that are presently treated only in overseas countries of Europe and America.


Galadanchi stressed that the general populace of Kano would have the benefit of access to modern treatment facilities within their domain.
According to him, there will be 200 beds categorized into different infectious conditions and the centre will also have a fully equipped microbiology laboratory for the research and management of contagious conditions that often result in serious outbreak of cholera and meningitis.


The chairman noted that the contracts were awarded after thorough tender process that is in line with international standard, adding that the centre would also replace the old Infectious Disease Hospital (IDH) which is not a modern practice and situated within the city.
According to him, the new ultra-modern medical centre is now located at Kwanar Dawaki in Dawakin Kudu local government and the state governor, Mallam Ibrahim Shekaraum will lay its foundation stone on Tuesday.




http://www.thisdayonline.info/nview.php?id=188163
 

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Dangote gears up for cement export to ECOWAS …plans to list GDR on London Stock Exchange

November 23, 2010

Cement export to ECOWAS attractive, says Dangote

The Federal Government’s current incentives to Nigerian exporters and the friendly import policies of ECOWAS countries, make export of cement to neighbouring West African countries a viable proposition, Alhaji Aliko Dangote, President/Chief Executive, the Dangote Group, has said even as the cement company will issue global depository receipts (GDR) to be listed on the London Stock Exchange next year.

“If we export from Nigeria to any of these countries, first of all we collect 30 percent export incentives,” he said. “And then secondly, when we get into those countries, we are not to pay local duties. So it will benefit us quite a lot.”

Dangote, who stated this in an interview with Reuters in London yesterday, disclosed that the company would as from 2012 begin export of cement to some ECOWAS countries in view of its envisaged excess local capacity of more than 20 million metric tonnes and the huge demand for the product in the sub-region.

As part of its strategy of capturing the ECOWAS market, he said Dangote already has a cement plant in Ghana, noting that there are good market opportunities in other neighbouring countries such as Liberia, Sierra Leone and Cote D Ívoire, which lack limestone, one of the basic raw materials used in the production of cement.

“The only thing that we need to do is quickly to create that avenue of exporting cement rather than importing cement,”
he said.

Dangote, who revealed that the company is currently consolidating its cement businesses across Africa to reap the benefits of scale, added that the listing of Dangote Cement Plc on the Nigerian Stock Exchange (NSE) last month was part of this strategy. Dangote Cement, which was listed at N2.13 trillion ($14 billion), is currently the biggest quoted company in Nigeria accounting for about 30 percent of the entire capitalization of the exchange.

“And the third phase now, which we will do within the first quarter of next year, will be the other African assets which are owned by Dangote Industries that will be taken over by Dangote Cement,” he added. “This will take us to about 46 million tonnes by 2015.”

Shedding more light on the planned GDR, he said "We have actually made up our mind to do a GDR here in London. The structure is much better for us, it is a market we understand very well,"

"We have to do it in stages, where we do a GDR first, then we will list going forward on the main market. We have an internal target to list in the next year. I think we will achieve it.”

He said Morgan Stanley is one of three international investment banks that would advise on the issue.

"The two others are not announced yet ... They will be building books for the GDR," he said.
 

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Obi, firm sign MOU for monorail in Onitsha

A Memorandum of Understanding (MOU) has been signed between the Anambra State government and Globim Corporation for the finance, design, construction and operation of a monorail system in Onitsha.

At the ceremony yesterday in the Government House, Awka, Governor Peter Obi signed for the state, while Dr. Jude Igwemezie signed for GlobimCorporation.

The project begins with a feasibility study of the city.

Obi said the project would upgrade the transport system in Onitsha to actualise his vision to achieve the Millennium Development Goals (MDGs) in 2015.

He said his government is poised to improve infrastructure and social amenities in Onitsha, especially with its current status as one of the five fastest growing cities in the world.

Commissioner for Special Duties Mr. Robert Okonkwo said the project would decongest the city and enhance easy movement.

The Chairman of the firm, Igwemezie, praised Obi for giving his firm the opportunity to contribute a new transport system for the state.

He said there would be a survey to establish viability and engineering feasibility before the project execution.

Igwemezie said the company would provide the fund, execute the project and manage it for sometime before handing it over to the state government.
http://thenationonlineng.net/web3/news/19789.html
 

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Dangote Cement Said to Plan Up to $5 Billion London GDR Sale
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By Zijing Wu and Ambereen Choudhury

Dec. 6 (Bloomberg) -- Dangote Cement Plc, Africa’s biggest producer of the building material, is working with three banks to raise as much as $5 billion in a London share sale, said two people with knowledge of the plan.

Dangote will probably seek $3 billion to $5 billion in a London sale of global depositary receipts, valuing the company at as much as $20 billion, said the people, who declined to be identified because the plans are private. Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley are helping Dangote prepare the sale, slated for next year, the people said.

The Lagos-based company, which raised 13.5 billion naira ($90 million) in an initial public offering in October, plans to increase capacity more than fivefold by 2015 to 46.2 million tons through investing in Nigeria and other African countries. Demand for cement in Nigeria, sub-Saharan Africa’s second- biggest economy and the continent’s most-populous nation, is expected to rise 45 percent in 2010, Stanbic IBTC Bank Plc said in October.

Tony Chiejina, Dangote’s spokesman in Lagos, declined to comment when reached on his mobile phone. The cement producer is 96 percent owned by Nigerian billionaire Aliko Dangote’s Dangote Group.

Dangote Cement, valued at $12.8 billion in Lagos trading, surpassed Nigeria Breweries Plc on its Oct. 26 listing date to become the heaviest weighted stock listed on the West African nation’s bourse.

‘Absorb the Volume’

Dangote Cement is planning the sale because the Nigerian market isn’t “deep” enough to absorb the volume of shares needed to meet a required 25 percent free float, said Babatunde Obaniyi, an analyst at Afrivest West Africa Ltd., one of the advisers on Dangote’s October IPO.

“The best thing to do is to look for a market that is deep and can absorb the volume of shares without having a negative effect on pricing,” Obaniyi said by phone from Lagos today.

A spokeswoman at Goldman Sachs in London declined to comment. Brian Marchiony, JPMorgan’s spokesman in London, and Michael Wang, Morgan Stanley’s spokesman in London, declined to comment.

Global depository receipts are negotiable certificates held in the bank of one country representing a specific number of shares of a stock traded on an exchange of another country.

Companies from Russia and Ukraine are among those that sold GDRs in London this year to gain better access to international investors. Mail.ru Group Ltd., a Russian internet company, raised $912 million last month. Ukraine’s largest egg farmer, Avangardco Investments Public Ltd., sold $187.5 million of GDRs in April, according to data compiled by Bloomberg.
 
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