Friday 8 July 2011

Rivers State Has Raised the Bar of Sports Festivals in Nigeria.


The Rivers State government, led by Governor Rotimi Amaechi - has raised the bar of the National Sports Festival (NSF) through the infrastructure, standard and organization implemented at the 17th NSF tagged "The Garden City Games 2011". 

Observers say that the Garden City Games   had increased massively the value and the branding NSF thereby according the festival the status it deserves in Nigeria...Vanguard

If you were at the opening ceremony, which happened right behind my apartment in Port Harcourt, you would think you were in any of the All African games, Olympics or Commonwealth games. It was just marvelous! I implore other states to emulate this feat and raise the bar even further....meanwhile, thumbs up for Rivers State and Rt. Hon. Chibuike Rotimi Amaechi.

Dangote Builds Largest Fertilizer Plant in Africa



The Dangote Group and the Saipem Group have signed an agreement for the facility engineering works that will launch the construction of the biggest fertilizer project in Africa. The fertiliser plant that will be sited in Edo State will be built by Saipem and it will have a production capacity of 7.700 MTPD of granulated Urea, (two trains with a production capacity of 3,850 metric tons each per day) ...Leadership

Apart from providing a major boost to the agricultural sector and establishing self sufficiency in fertilizer production in Nigeria, this project will create thousands of direct and indirect jobs for Nigerians throughout all phases of its lifecycle.

...Alhaji Aliko Dangote represents what I call "A True Patriot". Keep it up brother!

Thursday 30 June 2011

Nigeria's media scene is one of the most vibrant in Africa


Nigeria's media scene is one of the most vibrant in Africa. State radio and TV have near-national coverage and operate at federal and regional levels. All 36 states run their own radios, and most of them operate TV stations.

Radio is a key source of information. International broadcasters, including the BBC, are popular. However, rebroadcasts of foreign radios are banned.

Private radio and TV stations have been licensed, and there is substantial take-up of pay TV. Private TVs in particular are dogged by high costs and scarce advertising revenues. Moreover, legislation requires that locally-made material must comprise 60% of output. Viewing is concentrated in urban areas... BBC

...not bad, eehn?

Cocoa is Nigeria's second-biggest foreign-exchange earner


Cocoa is the second-biggest foreign-exchange earner for Nigeria,  Africa’s leading oil producer...ICCO Exports of beans in 2010 rose 2.3 percent to 200,333 metric tons, according to data from the Federal Produce Inspection Services, a government agency that supervises the shipments.

...the Nigetain government also need to sustain and increase its export potentials in related non-oil products. Other export candidates are Groundnuts, Palm Oil, and Cassava

The Naira may strengthen to 145 per dollar by the end of 2011


Nigeria’s naira headed for the biggest three-month gain in 14 quarters against the dollar after demand for the U.S. currency ebbed before the central bank lifts curbs on foreign investors’ debt holdings.

The naira advanced 1.1 percent to 152.025 per dollar today in interbank trading in Lagos, according to data compiled by Bloomberg.

Naira has appreciated 2.6 percent since March 31, the best three-month gain since the quarter through December 2007.

The naira may strengthen to 145 per dollar by the end of the year after policy makers decided to lift a requirement for foreign investors to hold local-currency investments in government securities for at least a year starting July 1, Central Bank of Nigeria Governor Lamido Sanusi said June 23. “Positive interest rates” will aid the gain, he said.

...that's a thumb up for CBN Governor. However, caution needs to be excercised  not to use this monetary policy to address only inflation but also consider the impact of rising naira on other indices such as foreign direct investments (FDIs), competitiveness of Nigerian exports, local industries and ofcourse employment.