Nigeria to establish $25 billion Infrastructure Development Fund

Minister of Budget and National Planning Sen. Udoma Udo-Udoma

 

Nigeria will establish a $25 billion Infrastructure Development Fund to finance projects in the country, the Minister of Budget and National Planning, Udoma Udo-Udoma, has said.

Mr. Udo-Udoma said this while receiving the Report of the three-day Pre-Summit Workshop from the Infrastructure Public-Private Partnership Summit Group on Thursday in Abuja.
He said the development fund would provide a pool of fiscal resources for long term financing of priority projects.

He said the ministry had developed the National Integrated Infrastructure Master Plan (NIIMP) for accelerated infrastructure development in the country for the next 30 year.
“The fund seeks to raise the stock of infrastructure from the current level of 20 per cent to 25 per cent of the GDP to at least 70 per cent by 2043.
“A total investment outlay of 3.05 trillion dollars will be required for the implementation of NIIMP.
“The investment will be geared towards meetings infrastructure requirements of the major sectors of the economy.
“The NIIMP captured Energy, Transport, Information Communication Technology, Agriculture, Water, Mining, Housing, Social Infrastructure, Security and Vital Registration sectors,” Udo-Udoma said.

He pointed out that the implementation of the NIIMP required collaboration of stakeholders – Federal and State Governments and the private sector – to provide required investments.

“The NIIMP, apart from being a robust framework for infrastructure development, will also serve as investors’ guide, enhance economic growth, and create job opportunities among other benefits,” he said.
Earlier, Abubakar Mahmoud, Chairman, Infrastructure PPP Summit Group, said the group was formed to address deficit in infrastructure and that government alone could not drive the provision of infrastructure.
Mr. Mahmoud said that the concept of forming the group was for private sector to pull resources and expertise together to create framework for PPP dialogue and engagement.
“We have received a lot of support from government agencies, including the ministry,” he said.
Also Speaking, Daniel Gori, a member of the team who presented an outcome of the summit, said that infrastructure was key to reclaiming Nigeria as the biggest economy in Africa.
Gori recalled that Nigeria had lost its first position as the largest economy in the continent to South Africa.
“We know that infrastructure is critical to this; infrastructure deficit is putting a break on Nigeria potential.
“The report focuses on Power, Transport, Agriculture and Health and we have analysed all sectors and ways they can be developed,” he said.

(NAN)

 

Bolt wins his eighth Olympic gold medal !

Without a doubt Usain Bolt is incredibly all time achiever as he won the men’s 200m to claim his second gold medal at Rio 2016, his eighth at an Olympics, and keep alive his hopes of a ‘treble treble’.The Jamaican ran 19.78 seconds to come home ahead of Canada’s Andre de Grasse and France’s Christophe Lemaitre.
Bolt, 29, has already won the 100m in Rio and will join his compatriots for the 4x100m relay final on Saturday.

He also claimed gold in the 100m, 200m and 4x100m relay at both Beijing 2008 and London 2012.
Bolt, who said in February he would retire after the 2017 World Championships, has won all eight of the Olympic finals in which he has appeared.
Britain’s Adam Gemili clocked the same time as Lemaitre, but was denied his first Olympic medal in a photo finish.

“The fact I came here and executed what I wanted to is a brilliant feeling,” he told BBC Sport.
“I wasn’t happy with the time when I crossed the line. But I’m excited I got the gold medal – that’s the key thing.”
Bolt believed he could break his world record of 19.19 and even go under 19 seconds in Rio’s Olympic Stadium.

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So the slow time – by his standards at least – left the Jamaican gesticulating angrily as he crossed the line over two tenths of a second ahead of De Grasse.
But Bolt quickly broke into a beaming smile, celebrating with a trademark ‘Lightning Bolt’ as thousands of fans chanted his name.

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Victory for BoltCredit: Getty Images

He’s currently on a victory lap around the Olympic Stadium, with the entire crowd largely chanting his name, as he throws lightening bolt after lightening bolt. Incredible.

”It’s something that you work so hard for, so that when the moment comes, winning is just relief. Obviously so much could have gone wrong. So to win today, the feeling is one of relief.”I wasn’t happy with the time and my body did not respond to be down the straight. But I’m getting older, so I am pleased to get the gold medal. That is the key thing.



”I didn’t feel any extra pressure because I don’t pay attention to the media before races. I just focus on what I need to do. I came out here and I get the job done.” – Usain Bolt said to BBC while grapsing his breath shortly after his heroic win.

Bolt celebrates after winning the gold medal in the 200m finals Credit:AP

Bolt crossing the line, possibly for the last time running the 200m Credit:Reuters

How he will be missed.

Churandy Martina finishes fourth in a time of 20.13. Superb from him and Gemili. Very disappointing for Merritt.

Heartbreak for GemiliCredit:REX

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just before the wild run, Yohan aka Beast showed off:




Bolt is introduced to the crowd. As his name is read out he does what can only be described as a little cha-cha. It’s not quite Yohan Blake’s ‘The Beast’ routine, but it’ll do.

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Bolt is introduced to the crowd. As his name is read out he does what can only be described as a little cha-cha. It’s not quite Yohan Blake’s ‘The Beast’ routine, but it’ll do.

Bolt in the blocksCredit:Getty Images

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Rio Olympic Football : Nigeria’s ready to settle for bronze medal against Honduras

Nigeria’s ready to settle for bronze medal against Honduras

  

Solomon Dalung, Nigerian Sports Minister under criticisms for poor performance of the country’s Olympic games team.

Nigeria’s  U-23 team is gearing forward to playing Hondurasin clash for bronze medal following the team’s failure to rise to the occasion as they were beaten 2-0 by Germany on Wednesday’s Rio Olympic Games Men’s football semi final match at the Corinthians Arena.

Nigeria Dream Team VI

Nigeria’s U-23 team failed to rise to the occasion as the team were beaten 2-0 by Germany in Wednesday’s Rio Olympic Games Men’s football semi final match at the Corinthians Arena. The Dream Team VI were made to pay for their poor organisation in the defence as Lukas Klostermann scored with a simple tap-in to give the Germans an early lead in the 9th minute after a brilliant pass from the right flank.The Dream Team will now play Honduras to compete for the bronze medal of the event.

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 Nigeria Vs Honduras Match Time is scheduled on Saturday 20th.

Kick off : 5pm Nigerian Time. The game is a medal winning match, so the dream team can still win a bronze medal.

Samson Siasia, Nigeria’s U-23 football coach

Nigeria could have equalised immediately after Germany goalkeeper Timo Horn gifted the ball to Sadiq Umar in the 18 yard box but he hurriedly hit the ball back to the goalkeeper without precision and could have passed the ball to Mikel Obi in the second attempt that could have slotted the ball to the back of the net.

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Samson Siasia’s men dominated the game but could only convert one of their numerous chances via a first half header from Sadiq Umar against Sweden

 

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The Germans dominated the Dream Team VI in terms of possession and they deservedly got their reward with a second goal in the 89th minute through Nils Petersen to end any hope of a comeback from the Nigerian side. The Germans deserved their lead after nine minutes through big defender Lukas Klostermann, who steered home a low cross from the right.

But they left it late to double their advantage a minute to full time through substitute Petersen, when he turned in a pass from an acute angle.

Nigeria were gifted a big chance by the German goalkeeper Timo Horn to equalize three minutes after the opponents went in front when his poor clearance fell to Sadiq Umar inside the box, but he somehow blocked the effort.

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In the 20th minute, Nigeria goalkeeper Emmanuel Daniel made a point-blank save off Lars Bender to keep his team in the game.

And on half of the hour, Sadiq Umar and then Mikel could not capitalize on another slip by the German defence.

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Injury proned Etobor not played in two consecutive matches in Rio.

But Germany created the better chances in the first half – skipper Meyer saw his shot from outside the box miss target not by much and two minutes later, Davie Selke’s shot from top of the box was firmly held by the Nigeria goalie.

In the 42nd minute, Selke failed to get a good touch to another low cross from the right with Troost-Ekong breathing down his neck, before Serge Gnabry failed to make the most of another good chance minutes later.

Midfielder Mikel Obi stabilizing the Dream Team IV

In first half stoppage time, Sadiq Umar put Aminu through on goal, only for a German tackle right inside the box put the ball out for a corner.

The Dream Team VI will now play Honduras,who lost 6-0 to Brazil in the third place match for the bronze medal position.

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Buhari's admnistration more clueless than Jonathan's -Chibok girl's mother

A mother of one of the abducted Chibok girls, Esther Yakubu, has described the President Muhammadu Buhari’s administration as “more clueless than Jonathan’s government.”

Esther made the remark after sighting her daughter in the new video released by the Boko Haram insurgents demanding swap of their detained members with the Chibock girls.

The emotionally laden mother said, “The Chibok girls must be rescued, they must have their lives, the future that Boko Haram tries to truncate,” adding that Buhari’s administration was “more clueless than Jonathan’s.”

Boko Haram had in its new video use the girls who were abducted in 2014 from their dormitory in Chibok, Borno State as bait for the release of its members held in prisons across the country.

Speaking further, Esther said though she wanted the best educationally for her daughter, but regretted putting her in boarding school.

“I wanted her to have the best of education, I planned to sponsor her education to whatever level she wanted, but she could not sit for her final examinations because she was abducted.

“Boko Haram in the video asked the government to release their members so that they could release our girls. If the government knows that it cannot handle the insurgency, it should invite other countries. It is not a crime to seek assistance in a war. It is a shame for them to allow our daughters to languish in captivity for over two years. “I don’t regret sending her to school, but I regret putting her in boarding school. If she was a day student, she would be home with me that night. The abduction affected her because she was in boarding school,” she said

Boko Haram had in its new video use the girls who were abducted in 2014 from their dormitory in Chibok, Borno State as bait for the release of its members held in prisons across the country.

Speaking further, Esther said though she wanted the best educationally for her daughter, but regretted putting her in boarding school.

“I wanted her to have the best of education, I planned to sponsor her education to whatever level she wanted, but she could not sit for her final examinations because she was abducted.

“Boko Haram in the video asked the government to release their members so that they could release our girls. If the government knows that it cannot handle the insurgency, it should invite other countries. It is not a crime to seek assistance in a war. It is a shame for them to allow our daughters to languish in captivity for over two years. “I don’t regret sending her to school, but I regret putting her in boarding school. If she was a day student, she would be home with me that night. The abduction affected her because she was in boarding school,” she said