Nigeria’s President To Meet With Investors In London

President Goodluck Jonathan will be visiting the United Kingdom on Wednesday for a three-day meeting with foreign investors.

The meeting is aimed at attracting more investments to Nigeria.

Issues that would be discussed at the meeting of Nigeria’s Honourary International Investors’ Council include generating long-term affordable finance for Nigeria’s real sector, developing Nigeria’s private equity and venture capital sectors to attract more foreign investments and Nigeria’s information and communications technology master-plan.

The government’s spokesman, Ruben Abati, said that the council’s meeting, coordinated by Baroness Lynda Chalker, would also feature a review of Nigeria’s existing investment policies by the Organization for Economic Cooperation and Development, the Paris-based international organization dedicated to the promotion of policies that would improve the economic and social well-being of people around the world.

“President Jonathan will be accompanied by Governor Emmanuel Uduaghan of Delta State, Governor Kashim Shettima of Borno State, Senator Emmanuel Paulker, Senator Nenadi Usman, Hon. Sylvester Ogbaga, Hon. Isiaka Bawa, the Coordinating Minister of the Economy and Finance, Dr. Ngozi Okonjo-Iweala, the Minister of Industry, Trade and Investments, Dr. Olusegun Aganga and the Governor of the Central Bank, Mr. Lamido Sanusi.

Others on the President’s entourage include the Minister of Petroleum Resources, Mrs. Diezani Allison-Madueke, the Minister of Communications Technology, Mrs. Omobola Johnson, the Minister of Power, Prof. Chinedu Nebo, the Minister of Special Duties, Mr. Kabiru Turaki, the Minister of State (Foreign Affairs), Prof. Viola Onwuliri and heads of relevant government agencies”, Abati said in a statement on Tuesday.

The accompanying Ministers and heads of agencies will brief the gathering on developments in their areas of responsibility, and also lead discussions on proposals for overcoming identified challenges.

Some members of the council are the CEO of the Investment Corporation of Dubai, Mr. Mohammed al Shaibani, a former South African Minister of Public Enterprises, Mr. Alec Erwin and the Vice President of Hewlett-Packard’s Enterprise Group in Europe and Middle-East and Africa, Mr. Olivier Suinat.

The President is expected back in Nigeria at the weekend.

FG Restates Commitment To Improving Infrastructure

The Federal Government has restated its commitment to the provision of critical infrastructure in all areas of the economy, in order to fast track the development of the nation.

Addressing participants at a gathering on the protection of critical national assets and infrastructure, Vice President Namadi Sambo called on security agencies to work together in protecting the nation’s assets.

He stressed the need for a quicker resolution of court cases involving economic saboteurs and stiffer penalties for offenders.

Vice President Sambo who declared the forum open advised security agencies to step up their game in protecting the nation’s assets.

The Minister of Power, Prof Chinedu Nebo and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu decried the vandalisation of national assets by criminally minded persons.

Although terrorism and vandalism are two major issues confronting the nation, the National Security Adviser, Col Mohammed Dasuki and the Commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ade Abolurin pledged their commitment to combat the menace.

The two day event will among other issues examine strategies for the protection of Nigeria’s critical national assets and infrastructure including the role of the NSCDC in the protection of such assets.

FEC Domesticates Three UN Conventions, Approves N34.99 Billion Contract

The Federal Executive Council (FEC) has ratified and approved three United Nations Conventions for domestication and operation in the country.

The conventions are the Prevention and Punishment of Crimes against Internationally Protected Persons; International Convention against the Taking of Hostages and that of the Suppression of Terrorist Bombings.

While briefing State House Correspondents after the meeting, the Minister of Information, Mr Labaran Maku said that the memos for the ratification of the convention were brought to the council by the ministry of foreign affairs for approval.

Over N123 billion road contracts was also approved, while the full operation of rail transportation is said to commence fully within major city in the country by next year.

The Minister of Works, Mr. Mike Onolememen said the contracts will focus on the reconstruction of section two phase two of the Oshodi –Apapa Expressway  with N14.9 billion.

He also said that the Mokwa-Bida Expressway in Niger state is a collaborative effort with the World Bank and will gulp N10.9 biilion, adding that the rehabilitation of the Akure-Ilesha Expressway in Ondo and Osun states will cost N7.39 billion.

The FEC also approved the purchase of 6 mobile sub stations in the power sector totaling N1.8 billion.

The Minister of Power, Prof. Chinedu Nebo said the substations will serve as substitutes when the need arises for both the existing power plants and the NIPP projects.

He also announces that seven out of the 10 NIPP projects are ready for commissioning