Investment

FG Pledges to Partner Genuine Investors in Mining Sector

Published

7 years ago

November 9, 2017

FG Pledges to Partner Genuine Investors in Mining Sector

The federal government has reaffirmed its determination to ensure that the mining industry gets the right partnership it needed to be able contribute positively to the economy of the country.

Minister of State for Mines and Steel Development, Abubakar Bawa Bwari made the remark on Tuesday through the Deputy Director of Press, Ministry of Mines and Steel Development, Mrs. Rhoda Iliya.

According to the statement, the minister, during a meeting in his office with a delegation of Chinese investors from the East – China Metallurgical Institute of Geology and Exploration, led by the Director of the Institute, Mr. Liu Ling Sheng in Abuja, noted that a lot of proposals had been received from foreign investors interested in collaborating with the ministry on exploration and beneficiation in the mining sector.

The Ministry, he added, intends to partner genuine investors that can justify their interest in terms of competency, years of experience, availability of modern equipment, records of achievements and ability to provide jobs and capacity building to Nigerians in the mining sector.

Bwari told the visiting Chinese delegation who expressed interest in investing in the mining sector to submit their proposals to a technical committee to be established by the ministry to determine areas of interest and benefits to the two parties.

It said, earlier, a member of the delegation, Mr. Paul Ogbe Kaizer made a presentation on the profile of the Institute. The business scope of the Institute includes rock and mineral testing, risk assessment of geological disasters, solid mineral exploration hydrogeology, engineering geology, environmental geology investigation, geology drilling, geophysical and geochemical exploration, surveying and mapping, among others.

Kaizer stated that the Institute has modern and advanced mining equipment, records of achievements in lead and zinc, copper iron deposits, manganese and has won over forty awards in several regions in China in mining.

He added that the company has presence in Nigeria and has worked in Kogi, Kebbi and Nasarawa States mining coal, Lead and Zinc and Manganese. Adding that, the company is interested in collaborating with the Ministry in the area of mining and provision of jobs and capacity building to Nigerians in the mining sector.

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Investment

Economic Alliance: Governors Eno and Sanwo-Olu Flag Off Ibom Towers in Victoria Island

Published

5 days ago

October 31, 2024

Bassey Marshall

The Governor of Akwa Ibom State, Umo Eno, and his Lagos State counterpart, Babajide Sanwo-Olu, have flagged off an 18-storey Ibom Towers project in the Victoria Island area of Lagos State.

Governor Eno announced this via a post on his official X handle on Wednesday, October 30.

Speaking after the Ibom Towers project ceremony in Lagos, Governor Eno stated that the project will drive revenue growth and strengthen economic ties between Akwa Ibom and Lagos States.

Eno commended Lagos State Governor Sanwo-Olu for leading the ceremony, adding that the project is set for completion in 24 months.

He detailed that the Ibom Towers, located at Plot 868A, Bishop Aboyade Cole, Victoria Island, Lagos, will feature luxury apartments, gyms, pools, and smart building technology.

Governor Eno said, “Today, as part of our efforts to diversify Akwa Ibom’s economy, we marked the groundbreaking of the 18-story Ibom Towers in Lagos. This project, expected to be completed in 24 months, will drive substantial revenue growth and economic ties between Akwa Ibom and Lagos States.

“We are grateful to Governor Babajide Sanwo-Olu for leading the groundbreaking ceremony and to former Governors Udom Emmanuel, CON, and Obong Victor Attah for their support.

“Ibom Towers represents a bold step toward economic innovation, featuring luxury apartments, gyms, pools, and smart building technology.

“It’s designed to attract urban professionals and generate revenue through property leases and tourism, boosting GDP for both states. Thanks to everyone who joined us today, including the Oba of Oniru, HRM Oba Abdulwasiu Omogbolahan Lawal, His Eminence Ntenyin Solomon Etuk, Speaker Udeme Otong, AKICORP MD Imo-Abasi Jacob, and numerous traditional rulers for their support in bringing this vision to life. Together, we’re paving the way for a prosperous future!”

Governor Sanwo-Olu, who described the project as a symbol of inter-state collaboration, commended Umo Eno for recognizing Lagos as a prime investment opportunity.

The Lagos State Governor expressed his full support for Governor Eno and the Ibom Towers project.

He said, “Today, I joined Governor Umo Eno of Akwa Ibom State for the groundbreaking ceremony of Ibom Towers in Victoria Island, Lagos.

“I commend Governor Eno for recognizing Lagos as a prime investment opportunity, as this project is a symbol of inter-state collaboration. It represents not only physical growth but also our commitment to strengthening economic ties and fostering new opportunities.

“As Ibom Tower rises, it will serve as a beacon for business and community engagement, reflecting our shared vision for Nigeria’s growth through creativity and collaboration.

“On behalf of Lagos State, I extend our support to Governor Eno and all involved in this endeavor.”

Investment

FG Warns Property Owners: Settle Ground Rent in 60 Days or Lose Certificates of Occupancy

Published

2 weeks ago

October 24, 2024

Bassey Marshall

The Federal Ministry of Housing and Urban Development has announced plans to revoke the Certificates of Occupancy (C of O) of property owners who continue to refuse payment of ground rent and other statutory charges owed to the Ministry.

This development was disclosed by the Minister of Housing and Urban Development, Ahmed Dangiwa, during the 29th Conference of Directors of Lands held in Abuja on Wednesday.

Dangiwa stated that the Federal Government is giving C of O holders a 60-day ultimatum to clear their outstanding debts.

At the conference, themed “Equitable Land Stewardship: Challenges of Land Administration and Its Impact on Climate Change and Community Rights,” Dangiwa revealed that property owners’ refusal to pay their dues has resulted in a loss of trillions of naira in revenue for the government.

According to him, President Bola Tinubu’s administration will not tolerate non-compliance, as the revenue is critical to delivering on the president’s agenda.

He said, “The Federal Ministry of Housing and Urban Development is aware that several owners of titled properties have failed to pay ground rent and other statutory charges to the Ministry for several years.

“This non-compliance has resulted in the loss of trillions of naira in revenue to the Federal Government. Under the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu, this cannot be tolerated, as this revenue is much needed to deliver the Renewed Hope Agenda.”

“As such all Federal C of O title owners are hereby given a 60-day notice to settle all outstanding ground rent and statutory charges. Failure to make payment within this period will result in the revocation of their C of Os.”

“Failure to adhere to these requirements will attract the appropriate penalties and sanctions,” Dangiwa warned.

The announcement comes amidst the economic hardship ravaging the country as a result of the fuel subsidy removal of President Bola Tinubu government’s.

Investment

Deji Adeleke Boasts of Generating 15% of Nigeria’s Electricity, to Unveil $2bn Worth of Power Plant Next Year

Published

3 weeks ago

October 16, 2024

Ugwoke Ogbodo

A billionaire businessman and father of popular music star David Adeleke, also known as Davido, Dr. Adedeji Adeleke has disclosed that he has a firm that generates about 15 per cent of Nigeria’s electricity.

He disclosed this while speaking at the Seventh-Day Adventist Church’s General Conference Annual Council 2024.

Adeleke revealed that he is in the process of constructing a 1,250-megawatt power plant worth $2billion, saying that upon completion, is expected to be the largest in the country and that it would be operational in January, 2025.

He said as a businessman in electricity, he owns power plants and generate presently about 15 percent of the electricity needs of Nigeria.

The elder brother of the Osun State Governor, Ademola Adeleke, said he has Chinese engineering companies that work for him, adding that his tenth new power plant will be the biggest thermal power plant in the country.

Adeleke disclosed that while preparations for the project were underway, an unnamed government official threatened to prevent its completion.

Despite this challenge, Adeleke credited the near-completion of the project to the mercies of God, stating that it is a testament to divine intervention that the venture has progressed this far.

Adeleke noted that his Chinese friend had to travel down to Nigeria to discuss a way out because he never believed that prayer was enough to get the project done.

He affirmed that prayer did as the then Minister of Power granted the approval because he saw that the project was a brilliant one.