News Summary: 5th, December, 2014 1. FG, GE Sign $1bn Investment Plan - ThisDay The federal government yesterday signed a Memorandum of Understanding (MoU) with General Electric (GE) for the implementation of a $1 billion investment plan in Nigeria. The MoU follows a January 2013, $1 billion investment plan for Nigeria that was announced by GE’s Global Chairman, Mr. Jeff Immelt, out of which $250 million will be earmarked for capital expenditure of the construction of a multi modal manufacturing and assembly facility in Calabar, Cross River State. The planned facility, which will have an improved ability to support a broader range of product lines in power generation as well as oil and gas exploration and production, is expected to make Calabar a regional hub for manufacturing, service and innovation, Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, said during the MoU signing ceremony in Abuja. She further said that the MoU covers an additional $800 million which GE has pledged to spend over five years in local sourcing of goods and services, labour, staff welfare and training. thisdaylive/articles/fg-ge-sign-1bn-investment-plan/195868/ - ThisDay 2. FG Slashes 2015 Budget Oil Benchmark Price To $65pb - National Mirror The Federal Government has slashed the 2015 budget oil benchmark price from $73 to $65 per barrel because of the continued fall of oil prices at the global market. The price of Brent crashed from $71 to $69.92 per barrel yesterday, while that of the Organisation of Petroleum Exporting Countries, OPEC, basket of 12 crudes stood at $67.31 per barrel compared with $68.13 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes, ORB, is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). Consequently, the naira weakened slightly, staying below the Central Bank’s new target band, following the slash in the oil price for the second time in a month. nationalmirroronline.net/new/fg-slashes-2015-budget-oil-benchmark-price-to-65pb/ - National Mirror 3. Nigeria Gets German Bank’s $200m Renewable Energy Cash - National Mirror The leader of German delegation, Renate Von Bodden, has said the German Development Bank, KFW, has voted $200 million in support of Green Credit Line to Nigeria. Speaking at a Bi-National Commission’s meeting on energy in Abuja, she said the facility is meant to act as a support base for small and medium enterprises (SMEs), specifically for the development of renewable energy and energy efficiency projects. She also said another facility worth five million Euros has been set aside for technical assistance through the KFW, adding that the German agency has the required experience that would be useful to Nigerians in developing their capacities in renewable energy projects. She expressed satisfaction with the commitment so far exhibited by Nigerian officials, just as she said the Germans have been working with the country on a number of energy related projects. “Nigeria is on track with its vision of providing more of its nationals with electricity,” she said. thenationonlineng.net/new/nigeria-gets-german-banks-200m-renewable-energy-cash/ - Nation 4. 14 Years After, Nigeria Achieves Only 1 MDG - Dailytrust Fourteen years after 148 countries signed the Millennium Development Goals (MDGs) Declaration, Nigeria has not achieved six of the seven goals. An analysis of data released by the National Bureau of Statistics (NBS) indicated that Nigeria has fully achieved the goal three hinged on “promoting gender equality and empowering women.” The 2014 MDGs performance tracking survey report released by the NBS revealed that gender disparity in primary and secondary education has been eliminated as “for every male, there is a female being enrolled into schools.” The report indicated that, “in primary schools, the Gender Parity Index in 2012 was 1.00 per cent which increased in 2014 to 1.02 per cent. In secondary schools, the GPI ratio was 1.02 per cent in 2012 and decreased by barely 1 per cent in 2014 to 1.01 per cent.” dailytrust.ng/daily/news/41282-14-years-after-nigeria-achieves-only-1-mdg - Daily Trust NPC Information Unit Room 415, 4th Floor Plot 421, Constitution Avenue, Central Business District, E-mail: [email protected] Website: nationalplanning.gov.ng
Posted on: Sun, 07 Dec 2014 01:32:27 +0000
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