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Entrepreneurship in the Digital & Mobile Age

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In this digital age, there’s never been a better time to be an entrepreneur in Nigeria. Google’s co-founder Sergey Brin said “Scarcity breeds clarity”.  What he meant was that if and when times are tough  businesses of all sizes need to maintain a start-up mentality – forcing people to think creatively and rise to the challenge when resources are scarce. Inventive and entrepreneurial people use challenging times to take risks, launch businesses and grow existing enterprises.

Our generation’s industrial revolution is digital and the Internet has broken down trade barriers so effectively that small businesses can now compete for new customers, from home.  Even the smallest company can have national and even regional success, providing it has a good product or service that consumers, somewhere, will pay for.  Entrepreneurs born during hard times will not be limited to selling products in their locality, but can expand quickly and with smaller risk.  The Web has given entrepreneurs access to a live focus group which they can tap into to discover trends, build business plans and test their products cheaply.  Whether you sell at a trade fair, or own a shop in Ikeja or sell goods online, it’s invaluable to know where and when there is demand for your product.

As recently as five years ago, SMEs and entrepreneurs would have had to invest in expensive market research to discover gaps in the market, but now the same research can be undertaken with a few clicks of a mouse.  If you wanted to know which products to display in your shop window next Christmas, why not compare the volume of search interest in each product, using Insights for Search and discover the winning product?  Or why not find out whether there is a bigger demand for your product in Abuja or Port Harcourt instead of risking money by launching it on a whim?  Or set up a Facebook page or a Twitter account and canvass opinions for free.

Entrepreneurial mindsets are exploiting new business niches and are driving Nigeria’s economy.  As such, we need to prepare the next generation of entrepreneurs to meet the challenges brought by the global nature of enterprise.  We need to help them understand that their future competition in business may not come from their neighbouring store on the high street, or even a competitor in the same city or country, but from an equally talented entrepreneur in Nigeria, or India, or elsewhere.

So why not take a few minutes this week to think about how you can sharpen your entrepreneurial skills online and grow your business?

Here are a few steps that businesses can take to begin building their smartphone Internet strategies today:

  1. Keep layout simple

Keep mobile Internet layout simple so mobile users can navigate easily on the small screen.

Use clear and concise headlines, keep scrolling simple (top to bottom) and make search easy for the user by ensuring that search boxes are visible and search results are clean and easily filtered.

  1. Prioritise content

Make it easy for customers on-the-go to find content that is most relevant to their needs.

Select valuable content for users on-the-go and understand the limitations of the mobile attention span by providing an experience that is more transactional and action-oriented, rather than browsing based.  Ensure that site navigation and load time is as fast as possible.

  1. Use uniquely mobile features

Users can interact through touch, sound, sight, and location on their mobile device. Take advantage of this functionality to maximise user experience.

Offer users the most relevant information based on their location and leverage other functions on mobiles such as GPS, cameras and notepad. Building for feature phones is important, but smartphones allow for a rich user experience.

  1. Design for thumbs, not mice

Remember that most smartphone users will be interacting with your website through a touch screen.

Design your site to prevent accidental clicks and avoid hover over menus. Distinctively coloured buttons and stand out conversion buttons should be larger and more prominent.

  1. Make it easy to convert

Make it easy for users to convert on-the-go.

Shorten the conversion process by keeping forms concise and reducing unnecessary fields. Keep call to actions clear and make account access and log-in processes quick and easy. If you have sales people: remember a phone is a communication device. Utilising a click-to-call option is the best way to connect sales representatives to consumers looking for specific products and services.

We’re in the earliest chapters of mobile’s history. As the mobile web expands, the opportunities available for marketers to reach consumers and grow their businesses will increase as well. Businesses are boosting sales, brand-awareness, and purchase-intent through effective mobile campaigns. It’s not too late to be early to mobilise your business.

GTBank to Redeem $500million Eurobond Ahead of Maturity Date

Guaranty Trust Bank Plc, GTBank, has invited holders of its $500 million 7.50 per cent Eurobond initially due by May 2016, to tender their securities for redemption by the bank from Thursday, February 4.

This is a part of efforts to assuage the fears expressed by international investors over its ability to redeem its Eurobond

A statement from the bank yesterday requested that investors in the debt instrument should tender any and all of their securities for purchase by the offer or for cash, on the terms of, and subject to the conditions contained in a tender offer memorandum dated February 4, 2016 .

The offer commenced yesterday and will end at the expiration deadline, according to the bank, stating that results of the offer are expected to be announced on or before February 11, 2016.

However, it pointed out that if the expiration deadline would be extended, an announcement to that effect would be made no later than 9a.m. (New York City time), on the next business day after the previously scheduled expiration deadline.

The bank however explained that through the offer, “it seeks to deploy its available United States dollar liquidity to the repurchase of the Securities ahead of the scheduled maturity in May 2016. This liability management exercise allows the bank to efficiently manage its liquidity by addressing in full debt maturing in 2016.

GTBank also stated that any securities purchased by the offeror would be surrendered for cancellation to the principal paying agent in respect of the securities.

 

Cummins, Sapele Power Signs Deal To Build 300Megawatts Gas-fired Power Plants

Cummins Cogeneration Ltd, has signed a 300 MW Power Purchase Agreement, PPA, with Sapele Power Plc as part of its plans to build one of Africa’s largest gas-fired power plants.

This partnership is coming just weeks after the company announced the signing of a 300 MW investment in neighboring Beyin, Ghana.

The Chairman of the company, Deepak Khilnani, who spoke at the event, said: “We are excited about our partnership with Sapele Power Plc because we believe this synergy will birth strengths and capabilities that will deliver a clean and sustainable long-term energy solution for Nigerians.”

This project will be operated using Cummins Combined Heat and Power (CHP) lean burn gas generator sets which emit up to five times less nitrogen oxide than comparable diesel generator sets and near-zero particulate matter.

Currently, Sapele Power Plc operates Nigeria’s second largest power plant by an installed capacity of about 1020MW, capable of meeting the energy needs of around 750,000 homes at full capacity.

Upon this partnership, the plant will distribute electricity generated from the plant directly to Nigerian Bulk Electricity Trading Plc (NBET), supplying millions of homes and businesses with clean power.

Anthony Onoh, Chairman of Sapele Power Plc, who expressed delight on the signing of the agreement, said: “We know that Nigerians have high expectations from the privatized power sector and that is why the company, has a strong focus on sustainable power generation focused on capacity recovery from its existing asset, as well as expansion from a mix of projects which would double the plant installed capacity within the next three years.”

“The project will be split into two phases; the first phase is expected to be completed and exporting power by July 2016 and the second phase is forecast for commissioned by December 2017,” he added.

Upon completion, the project will supply approximately three billion kilo-watt-hours of electricity to the Nigerian grid per annum, which is approximately 10 per cent of total production today.

“We are innovatively rising to the challenge of improving performance at our generating station; as well as integrating more renewable energy into the grid.” Anthony further explained that talks with the U.S. EXIM Bank, the African Development Bank, and the African EXIM Bank about funding for the power generating plant expansion projects were on-going.

NCAA Suspends Operation Of Bristow Sikorsky S-76C++ Helicopter After Crash

Bristow Helicopters

The Nigerian Civil Aviation Authority, NCAA, has suspended the operation of the Sikorsky S-76C++helicopter operated by Bristow Helicopters Limited in Nigeria, following the two crash incidents in just six months

At a press briefing in Lagos on Thursday, February 4, the director general of NCAA, Captain Muhktar Usman said the authority views with utmost seriousness the successive mishaps of Bristow Helicopters’ operating aircraft Sikorsky S-76C++ on the coastal waters of Lagos.

“These decisions are without prejudice to the investigations being conducted by the Accident Investigation Bureau (AIB). As a matter of fact, it will serve to assist in the entire process. The authority will fully support AIB in the investigation and the suspension will enable the NCAA carry out a full scale audit on its operations with particular emphasis on its Sikorsky S-76C++ type,” Usman said.

The Sikorsky S-76C++ is an American medium-size commercial utility helicopter manufactured by the Sikorsky Aircraft Corporation. The aircraft features twin turbo shaft engines, four bladed main and tail rotors and it has a retractable landing gear.

The helicopter was first built in the mid 1970’s with the design goal of providing a medium helicopter for corporate transportation and the oil drilling industry.

 

Oil Price Plunge: Shell Set to Cut jobs in Nigeria, Other Countries

 

Parent company of Shell Petroleum Development Company of Nigeria, SPDC, Royal Dutch Shell, has confirmed it will cut 10,000 staff and direct contract jobs across its global companies in 2016.

Shell which employs around 90, 000 in more than 80 countries stated that it will slash  the jobs to curb costs amid the lingering slide in oil prices.

Shell’s Chief Executive, Ben van Beurden, said in a webcast on its 2015 fourth quarter and full year results yesterday that the plan was part of holistic changes the company was undertaking to restructure and refocus its operations this year.

The Shell chief ​e​xecutive said the company was making substantial changes by reorganising its upstream, reducing costs and capital investment to enable Shell respond to lower oil prices.

Beurden who said the planned merger between Shell group and BG Group was expected to be completed in a few weeks, revealed that the company has exited the Bab sour gas project in Abu Dhabi, (UAE) and is postponing final investment decisions on LNG Canada and Bonga South West in deep water Nigeria in 2016.

Lingering Bear Hold Pulls NSE Index Down by 0.38%

The equity segment of the Nigerian Stock Exchange, NSE , continued its downward trajectory on Thursday, February 4, as the All Share Index (NSE ASI) dipped further by 0.38% to close at 23,517.19 points, compared with the depreciation of 0.96% recorded on Wednesday, February 3.

Year-to-date (YTD), the NSE ASI depreciated by 17.89%. Similarly, the Market Capitalization slid by 0.38% to close at N8.09trn, compared with the marginal appreciation of 0.96% recorded yesterday to close at N8.12mrn.

The depreciation recorded in the share prices of Dangote Cement, Nestle, Dangote Sugar, Oando, and UBA were mainly responsible for the loss recorded in the value of the Index.

The total value of stocks traded on the floors of The NSE today was N3.74bn, up by 28.54% from N2.91bn traded yesterday. The total volume of stocks traded was 2,641mn in 3,057 deals.

The three most actively traded stocks were: Wema Bank (2,453mn), FBN Holdings (40.70mn) and FCMB (38.02mn). The trading in Wema Bank shares accounted for 92.88% of the total volume traded today. The most actively traded sectors were: Financial Services (2,603mn), Conglomerates (22.69mn) and Consumer Goods (6.78mn).

DMO To Issue N90billion Bonds On Feb 10

The Debt Management Office,DMO, on Thursday, February 4, unveiled federal government’s plans to raise a N90 billion ($452.26 million) worth of local currency denominated bonds at an auction on February 10, the second of such in 2016.

The debt office said it will sell N40 billion in paper maturing in 2020 and N50 billion in the debt maturing in 2026, using the Dutch Auction System in which the price is lowered until the bond is bought.

Both debt notes are reopenings of the previously issued bond and Nigeria is planning to borrow as much as $5 billion to help fund its budget deficit due to the plunge in oil which has also sent the naira into a tailspin.

It expects a deficit of N3 trillion ($15 billion) in 2016, up from an initial N2.2 trillion ($11 billion) estimate. Nigeria’s total debt rose to N12.60 trillion ($65.42 billion) as at December 2015, up from N11.2 trillion in 2014.

Meanwhile, the Central Bank of Nigeria sold N242.38 billion ($1.22 billion) worth of three-month-to-one-year treasury bills on Wednesday at higher yields than in its previous auction yesterday.

The bank raised N50 billion more than initially planned as it increased the amount of six-month paper auctioned from the N30 billion it had previously announced to N80 billion and sold N45.17 billion of its three-month paper at 4.95 per cent, up from 4.29 per cent at a sale on January 20. It also sold N80 billion of six-month debt at 7.97 per cent against 7.59 per cent and N117.21 billion of one-year paper at 9.49 per cent compared with the 9.32 per cent on the same date.

Total subscription stood at N400.82 billion, compared with N288.98 billion. The 3-month bills closed at 4.59 per cent on the secondary market on Wednesday, the 6-month traded at 7.87 per cent while the one year paper closed at 8.45 per cent.

Eko Disco Seals 100megawatts Power Deal With Egbin To Boost Supply

The Eko Distribution Company, EKDC, has sealed a bilateral agreement with Egbin Power Station for supply of 100 mega watts of electricity to boost power supply within its network

The agreement is to ensure ensuring effective power supply that would enhance the current cost reflective tariff.

Managing Director of Eko Disco, Oladele Amoda, who disclosed this during the company’s stakeholder’s town hall consultative customer’s forum said that the company will invest in additional 100 megawatts from Egbin power station to boost power supply within its operations.

He said: “We have concluded bilateral arrangement with Egbin for supply of 100 megawatts. Customers within Lekki, Ajah, Ibeju and environs will benefit greatly from this special plan.”

“This is energy that would come directly to us without passing through the national grid.”

 

Chevron Posts $588 million Q4 Loss In 2015

Oil Major, Chevron has posted a loss of $588 million in the fourth quarter of 2015, compared with earnings of $3.5 billion in the 2014 fourth quarter (Q4).

Foreign currency effects boosted earnings in the 2015 quarter by $46 million, compared with an increase of $432 million a year earlier, the company said .

Full-year 2015 earnings were $4.6 billion compared with $19.2 billion in 2014 and sales and other operating revenues in Q4 2015 were $28 billion, compared to $42 billion in the year-ago period, the statement also said.

“Our 2015 earnings were down significantly from the previous year, reflecting a nearly 50 per cent year-on-year decline in crude oil prices. We’re taking significant action to improve earnings and cash flow in this low price environment. Operating expenses and capital spending were reduced to $9 billion in 2015 from 2014, and I expect similarly large reductions again in 2016. In addition, asset sales proceeds were $6 billion in 2015, with additional sales planned for 2016 and 2017,” the chairman and chief executive officer (CEO), Chevron, John Watson, said.

He added, “Improved refinery reliability allowed us to capture the benefits of a favorable margin environment and post excellent downstream results for the year. We continued to reshape the downstream portfolio with well-timed asset sales and good progress on petrochemical investments. We advanced our upstream major capital projects.

“We had first production from two deepwater projects in Africa, and ramped up production from Jack/St. Malo in the deepwater Gulf of Mexico and our shale and tight resources in the Permian Basin.”

Naira Crashes to Record Low of 311 Per Dollar at Parallel Market

The Naira hit record low against the dollar and other major foreign currencies, on Thursday, February 4, in the parallel market, widening the wide gap between official rate and that of black market.
The local currency, which has been hit by the lingering plunge of crude oil prices, slid to 311 a dollar in Abuja and Lagos, some dealers reported.

The British Pound Sterling was sold at N432 yesterday while the Euro exchanged at N331 at the parallel market. The interbank rate, as at yesterday, was 199.25 a dollar, 290.92 to Pound Sterling and 223.24 to a Euro.

There are lots of pressure on the Central Bank of Nigeria (CBN) to devalue the naira in order to adjust to the reality due to the fall in the price of crude oil in the global market.

Oil and gas generate about 95 per cent of Nigeria’s foreign exchange. In recent times, a barrel of crude has fallen to $27.
The naira had lost about 30 per cent of its value at the parallel market following the suspension of the weekly auction to the Bureau de Change operators (BDCs) last month by the CBN.

The governor of CBN, Godwin Emefiele, said recently that the widening gap between the parallel market and the interbank is not an issue as the parallel market is very insignificant to forex transactions.

African Freight Business Posts 1.2% Growth

The International Air Transport Association, IATA, in its recently released global freight figures shows that although African airlines Freight Tonne Kilometres flown (ie. revenue-generating cargo flown) dropped by 8.4 per cent in December 2015, the region grew by 1.2 per cent.

Despite the general freight growth of 1.2 per cent, under-performance of the Nigerian and South African economies still posed a challenge throughout the year.

The freight load factor (percentage of available capacity that was taken up by the market) in 2015 was 29.7 per cent, the lowest of any region.

“The under-performance of the Nigerian and South African economies was a challenge throughout the year, but trade growth to and from the region was sufficient to drive a modest expansion in freight tonne kilometres (FTKs),” IATA noted.

Other global figures released by the world airline body, show that cargo volumes measured in FTKs expanded by 2.2 per cent in 2015 compared to 2014. This was a slower pace of growth than the 5.0 per cent growth recorded in 2014. The weakness reflects sluggish trade growth in Europe and Asia-Pacific.

After a strong start, air freight volumes began a decline that continued through most of 2015, until some improvements to world trade drove a modest pick-up late in the year.

IATA director-general, Tony Tyler described 2015 as a difficult year for air cargo and enjoined all to adjust with the current trend of cargo growing in line with rates of economic expansion.

“2015 was another very difficult year for air cargo. Growth has slowed and revenue is falling. In 2011 air cargo revenue peaked at $67 billion,”Tyler said.

Shell Suspends $12billion Nigeria Bonga Project over Lingering Oil Price Plunge

 

Royal Dutch Shell, says it has put on hold the Final Investment Decision (FID) on the $12 billion Bonga South West project in deep water Nigeria.

The company also announced that it reduced operating costs and capital investment in the year 2015 by a total of $12.5 billion as compared to 2014, saying further reductions would be effected in 2016.

In the company’s fourth quarter (Q4) and 2015 report results released yesterday on its official website, Royal Dutch Shell’s chief executive officer, Ben Van Beurden, also announced that the company would be laying off 10,000 workers globally, this year.

He said: “We are making substantial changes in the company, reorganising our upstream, and reducing costs and capital investment, as we refocus Shell, and respond to lower oil prices. As we have previously indicated, this will include a reduction of some 10,000 staff and direct contractor positions in 2015-16 across both companies.

“In 2015, we significantly curtailed spending by reducing the number of new investment decisions and designing lower-cost development solutions.

“For 2016, we have exited the Bab sour gas project in Abu Dhabi, and are postponing final investment decisions on LNG Canada and Bonga South West in deep water Nigeria. Operating costs and capital investment have been reduced by a total of $12.5 billion as compared to 2014, and we expect further reductions in 2016.”

The company explained it had to take such decisions regarding the Bonga Nigeria project among others, noting that only competitive projects will go forward.

“Only the most competitive projects are going ahead and many potential projects have been purposely delayed, re-phased, or cancelled. This is to manage affordability and get better value from the supply chain in the downturn,” Beurden said.

 

House of reps Uncovers 169 Ghost Companies Involved in N1 Trillion Railway Contract

Nigeria seeks more time to negotiate rail project with GE

The House of Representatives Ad Hoc Committee on Failed Rail Contracts, on Wednesdya, uncovered 169 ghost companies registered as contractors with the Nigeria Railway Corporation, NRC, for projects valued at N1 trillion.

Chairman of the committee, Johnson Agbonnayinman, (Ikpoba/Okha federal constituency) said the committee discovered the scam when they invited contractors to a meeting and no one showed up stating that efforts to reach them have so far proven abortive.

He added that so far, only the China Civil Engineering Construction Corporation, CCECC, responded to the committee’s letter.

He said: “You are duty bound to produce the contractors. They are nowhere to be found; they are not faceless but yet they cannot be reached.

“You gave them the job, so you should produce them; we are holding you responsible.”

The committee also asked the corporation’s MD, Mr. Adeseyi Sijuwade, to make available the agency’s record of Internally Generated Revenue, IGR, between 2010 and 2014, and to explain to the the committee what the IGR was used for.

In response, the MD said the IGR was used to augment the agency’s overhead budget

#EkitiGate: Court Orders Aluko’s Arrest for Perjury

A Chief Magistrate Court in Ado-Ekiti, the Ekiti State capital has ordered the State Commissioner of Police to arrest the former State Secretary of the Peoples Democratic Party (PDP), Mr Temitope Aluko over alleged perjury.

Chief Magistrate Adesoji Adegboye gave the order on Wednesday, upon a Motion Ex-parte number MAD/10cm/2016, filed by the Ekiti State Government against Mr Aluko and the State Commissioner of Police, pursuant to Section 117 of the Criminal Code Law, Cap C16, law of Ekiti State 2012, Section 79 of the Ekiti State Administration of Criminal Justice Law 2014 and Section 23 (D) of the Magistrates’ Courts Law 2014.

In the Motion, which was filed and moved by the State Director of Public Prosecution (DPP), Mr Gbemiga Adaramola, an order of the court was sought to issue warrant of arrest against Mr Aluko to be executed by the State Commissioner of Police for the purpose of committing him (Aluko) for trial for the offence of perjury. Chief Magistrate Adegboye said the order was granted as a means for the first defendant (Aluko) to attend the court for defence.

The matter was premised upon an application to the State Attorney General by a lawyer, Mr Sunday Olowolafe, calling for the prosecution of Mr Aluko for alleged perjury. The legal practitioner said; “I hereby apply to your office that Dr Temitope Kolawole Aluko be arrested and sued for perjury in view of the interview recently granted on Channels Television by 8:00pm on Sunday 31 January, 2016.

In the affidavit filed in support of the motion ex-parte by Special Assistant to the State Governor on Public Communications and New Media, Lere Olayinka, he said Mr Aluko, who was a witness before the Governorship Election Petition Tribunal sworn to a Statement on Oath on August 4, 2014 wherein he stated that the Election was not only free and fair, but devoid of violence, thuggery, hooliganism, snatching of ballot boxes, and related forms of electoral disorderliness.

Olayinka further averred that Mr Aluko tendered and adopted his Statement on Oath on November 12, 2014 and further gave evidence under cross examination.

He stated that all what Aluko said on Channels Television on Sunday, January 31, 2016 were contrary to and opposite in direction to his evidence before the Ekiti State Governorship Election Petition Tribunal.

MAN Projects 5% Growth for Manufacturing Sector in 4 Years

The Manufacturers Association of Nigeria, MAN, has disclosed its desire to grow Nigerian manufacturing sector by 5 percent per annum within the next four years. They are currently collaborating with Manufacturing Partnerships for African Development (MPAD) to hold an Expo in Lagos,March,2016, where it hopes to meet thousands of industry experts as a way of realising that dream.

The Chairman Economic Policy Committee (EPC) of Manufacturers Association of Nigeria, MAN, Reginald Odiah,  said, “My vision is to see a Nigerian manufacturing sector that is developing and achieving a GDP growth of 5% per annum for the next four years”. They however called for an enormous investment to take the Nigerian manufacturing sector to the next level.

Moreover, thousands of Nigeria’s leading manufacturing experts will meet for the third annual MPAD & inaugural Nigeria Manufacturing Expo (MAN Expo) in Lagos from 15-17 March, which will be launched in response to the government’s commitment to industrialisation and Nigeria’s need to diversify.

He argued that 2015 was particularly a difficult year for local manufacturers, “reason being that it is an election year and government attention was particularly drawn into electioneering and winning the elections. Very little attention was paid to other sectors of the economy, especially manufacturing as is usual at these times.

“We are hoping and looking forward to Government now giving more time to the Real Sector – Manufacturing and Agriculture. We hope to prepare ourselves working with Government towards addressing the challenges of moving the real sector forward in 2016.”

2016 Budget: Senate Faults Agency’s N83 Million Refreshment Allocation

The Senate has condemned the N83 million allocated to meals and refreshment by the Standards Organization of Nigeria in the 2016 Budget proposal of the agency‎.

Chairman of the Senate Committee on Trade and Investment, Senator Sam Egwu, said such amount was outrageous considering the dire economic situation of the country.

Egwu also queried the rationale behind over N100 million allocated for overseas monitoring and evaluation by the same agency.

Defending the budget of N10.3 billion of the agency‎, the Director General, Dr. Joseph Odumodu, said SON wished to optimally explore its revenue generating arm and would add about N120 million into the consolidated revenue account at the end of the fiscal year.

Odumodu also said there was a need to strengthen the states offices of SON for better efficiency and that SON also wanted to exploit the SON act of 2015, which empowered it to prosecute and send to jail all those involved in the manufacturing and importation of substandard goods.

Ship Hijack: Military Absolves Pro-Biafra Agitators

The Director of Defence Information (DDI), Colonel Rabe Abubakar, has disclosed that the ship that was allegedly hijacked by pro-Biafra separatists is currently in Benin waters.

He noted that though the ship was intercepted by those with criminal intension, it is now in safe hands.
Abubakar, however, said that the ship was not intercepted by members of pro-Biafra agitators as alleged in many quarters.

It would be recalled that a defense ministry source, had stated that a vessel was seized on Friday, about 160 kilometers off Nigeria’s Bakassi Peninsula, along Nigeria’s south-eastern Atlantic Ocean coastline, near the border with Cameroon.

The shadowy militant linked to the hijack reportedly threatened to blow up the vessel with its foreign crew unless the Nnamdi Kanu, the detained leader of the Independent People of the Biafra (IPOB), is released within 31 days.

The ultimatum was reportedly given at the weekend by a militant identified under the assumed name of “Gen. Ben”.
The name of the ship, according to Colonel Rabe Abubakar, is MT LEON DIAS (9279927), a tanker.

Rabe reiterated that the ship is “presently in Benin waters, about 7.5 nautical miles off Cotonou Port, under the watchful eyes of the Benin Republic Navy.”

Meanwhile, the Movement for the Actualization of the Sovereign State of Biafra (MASSOB) has denied any link with the ship’s hijackers.

New leader of MASSOB, Comrade Uchenna Madu, vehemently denied working with any Niger Delta militant group or the hijackers who allegedly hijacked the Nigerian ship off the Bakassi Peninsula.

Madu said MASSOB did not believe in actualising Biafra through violence, and would remain non-violent in its struggles for the Biafra autonomy.

He said MASSOB would never resort to violence or take up arms against the Nigerian government no matter the provocations.

Madu accused the military of a deliberate ploy to link Biafran agitators with militancy as an excuse to declare war on them.

5 Fun Ideas for Valentine in Port Harcourt

Valentine’s Day is fast approaching and…hate it or love it, you should be on the love train. Good thing is that whether you want to declare your love, wow your secret crush, or just have a memorable time in Port Harcourt City, River State, there are plenty of opportunities to do so.

Ranging from spontaneous, to romantic or just simple, Jovago.com, Africa’s No.1 online hotel booking site offers 5 fun things to do in Port Harcourt for Valentine. Even better, some of these ideas are not just for Valentine’s Day, they are also appropriate for each day of the year.

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Weekend getaway at Le Meridien Ogeyi Place

Good news for all lovers of Valentine’s Day, the holiday for 2016 falls on Sunday, so this is the perfect excuse for a long romantic weekend. Whether you already live in Port Harcourt or are making a trip to the city from another location, a stay at Best Western Premier Hotel , would certainly spice up your relationship with your partner this holiday.

The hotel which is listed on Jovago.com, has a special valentine package from NGN30, 250 which includes 2 nights stay at the hotel, buffet breakfast at the Ororo restaurant, complimentary access to gym & Pool, complimentary Internet, raffle draw entry to win great prizes and more.

Set out on a pedestrian adventure

This is not the conventional way to spend valentine, but it’s sure a means to kill two birds with one stone as you not only spend quality time with your partner, but you also learn so much about the city when you walk through it.

Take your Valentine to a popular but safe neighborhood like Abuloma or Rumola and explore the environs, taking pictures and making memories along the way.  You could actually keep things spontaneous and set out for an unknown destination. It would be such a rewarding experience when you finally get to the desired spot, perhaps a local restaurant or road side pub.

Sunday lunch buffet at hotel presidential

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If you are not cut out for a long weekend stay in a fabulous hotel, you can at least settle for an exquisite lunch buffet at Hotel Presidential Hotel. An elegant location in the heart Port Harcourt, Sunday lunch buffet is offered at one of the hotel’s onsite restaurants, the Rivers Restaurant, every Sunday from 12:00pm till 3:00pm.

Spend quality time with your ‘boo’ enjoying the local foods of the city and savoring a taste of River State’s culinary culture. The hotel usually has special events as well as special offers which you can benefit from as long as you make early reservations.

Order in and have a takeout feast

Sometimes, spending intimate and quality time with your partner on Valentine’s Day is all you need. Waive the parties, buffets and outings and settle for an in-house feast of take outs. Make food orders from several different restaurants and assemble a palatable spread from all of the delivery spots- including local and foreign dishes. Indulge yourselves. Just ensure you know to avoid foods that you or your partner may be allergic to…and keep things interesting.

Record a love song together at a studio

Music according to Shakespeare is the food of love. Rather than just listen to music, it would be a romantic idea to go create one of your own. You do not necessarily need to know how to sing or have a sonorous voice to pull it off. Book some time in the studio and work with the resident producer, you will be surprised the outcome at the end of the day.

While you may not end up releasing the track, the song could become a symbol of your love and it can be played as the theme song for your wedding or anniversary, plus you can also share the story and love song with children in future.

5 Quick Things to Know About the Lagos City Marathon

 

Eko for show. This coming weekend will be one of fun, excitement and a benign exhibition of the tourism potentials of a state which is on its way to becoming a mega city. It’s not a surprise because Lagos has always been the pacesetter when it comes to novel events, remember the Lagos Countdown? And of course, it’s the economic heartbeat of Nigeria.  Many will go as far as saying ‘No Lagos, no Nigeria’. Drums roll…welcome, the Lagos City Marathon which derbies on February 6th. A marathon hinged on bringing local and international athletes together to experience the hospitality, nerve racking hustle, entertainment, art, sport and the swashbuckling side of a burgeoning city. If you are participating in the marathon, here are some quick things you need to know. Get your trainers on Saturday and join over 40 international runners in the first Lagos City Marathon.

The route

This is perhaps the most important information that all participants should have at their finger tip. The start point (7:30am) is The National Stadium Surulere while the finish point is Eko Atlantic. In between, the runners will go through popular stops like Ojuelegba, Anthony, Maryland, Ojota, Ogudu, Third Mainland Bridge, and Federal Palace Hotel among other places. The distance to be covered is 42.195 kilometres which is less than three hours.

Running numbers

marathon

To be eligible for the race, you must collect your running number. You can collect it at the Teslim Balogun stadium which is a stone throw from the National Stadium. Don’t forget you need a means of identity and confirmation received via email to receive your running kits. The numbers can be collected between the hours of 10 am and 6 pm.

Registration closes on 4th February 

For Nigerians that like to do things at the eleventh hour, they still have ample opportunity to register to run in the marathon. Go online and register. Registration is very simple. Put your money where your mouth is. No bragging!

$50,000.00 up for grabs

Converting 50,000 dollars to the black market rate of the naira will give you a staggering amount. But if this is not enough to motivate to participate, what about the sound of 1 million naira for the 1st male and female Nigerian to cross the finish line? It’s not about winning but participating. Notwithstanding, money has always been an excellent motivating factor in any engagement.

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50,000 Marathoners are expected

Imagine the huge logistics that will go into organising the Lagos City Marathon in a city like Lagos. So, you have to forgive any hitches. On the part of the government, maximum security, refreshments, ambulance services and entertainment are guaranteed. For runners, it’s advisable to leave your car and other valuables at home, arrive early and follow instructions. You are assured of a pleasant time at the marathon!

NEPC, Ondo State Partner On Cocoa Production

According to the Chief Executive Officer of the Nigerian Export Promotion Council (NEPC), Mr Olusegun Awolowo, Ondo State is strategic to the Federal Government’s initiative of achieving Zero Oil programme in its bid towards diversifying the nation’s economy. He said that the council would partner with the Ondo State government in a bid to boost cocoa and oil palm production which the State has relative advantage.

Awolowo noted that the nation’s over-dependence on oil and its decline globally has been causing a major set back to the economy of the country, hence the need to maximize other areas of comparative advantage for her survival.

“Ondo State accounts for over 40% of all cocoa export in Nigeria. We are here to exchange ideas with the governor on how to scale up production of cocoa because we need to set a target under our zero oil initiative so that we can meet the international demand of millions of metric tons. Nigeria used to boom in cocoa but now we are producing around 240,000 metric tons, Ivory Coast on 1.7m metric tons and Ghana 750,000 metric tons.

“But when you look at these countries, when you map them, you will see that Nigeria has expanse of arable land more than they have. We are ready to work with Ondo State, which is one of our targets even in the oil palm production”.

Mimiko, commended the initiative of diversifying the nation’s economy, calling on President Mohammad Buhari to spearhead the marketing of Nigeria before the international community, adding that his administration would assist the NEPC to enhance cocoa production for export and other products which the State has relative advantage.

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