by SNGZ | Mar 18, 2015 | News
Nigeria’s foreign direct investment (FDI) rose by 41 percent in Q4 of 2014 as against the preceding quarter (Q3), the National Bureau of Statistics (NBS) has said.
FDI increased from a value of $544.50 million in quarter three of 2014, to $768.86 million in quarter four.
According to the report, despite the increase, Nigeria’s total capital imported to the country for the period declined. A sharp decline of $2,042.84 million – 31.22 per cent – was recorded from the value of $6,542.58 million that was recorded in the preceding quarter.
Also, the closing quarter of the year 2014 was still greater than the $3,904.55 million of capital imported in the opening quarter, by $595.18 million or 15.24 percent.
The bureau attributed the decline in the capital imported in quarter four to low levels of investors’ confidence owing to the build-up to the 2015 elections.
“Capital Importation is divided into three main investment types: Foreign Direct Investment (FDI), Portfolio Investment and Other Investments, each comprising various subsectors,” the report said.
According to the Wall street journal (WSJ) frontiers and frontier strategy group (FSG) frontier market sentiment index, Nigeria maintained its top spot as the frontier-market economy that is attracting the most attention from American and European multinationals for potential future investments.
The report stated that the greatest value of capital imported to Nigeria continues to be the United Kingdom, with $1.94bn imported in the fourth quarter of 2014, representing 43.21 per cent of the total.
It said marginal declines were also observed in the United States, which is Nigeria’s second largest source of capital, declining by $54.62m or 4.84 per cent to $1.07bn in quarter four.
For portfolio investment, the report also stated that this made up the largest portion of the total capital imported.
It said at a fourth quarter value of $2.0bn, portfolio investment declined by $3.12bn or 60.94 per cent from its quarter three value of $7.12bn.
by SNGZ | Feb 25, 2015 | News
“Africa’s new economic environment” is the theme of the 2015 Africa CEO Forum that will take place on March 16-17, 2015 in Geneva. The meeting, which is co-organised by the African Development Bank (AfDB) and the Paris-based magazine group, Jeune Afrique, will focus primarily on development priorities of African businesses.
Some 800 leading decision-makers from Africa and elsewhere, including AfDB President Donald Kaberuka, will be in attendance.
The Forum will be an opportunity for the AfDB, and notably its Private Sector Department, to reemphasize its strategic mandate in partnering with African countries in “doing business”. “Going forward, the Bank is set to grow its private sector portfolio and play a greater co-investment and co-financing role beyond its annual investment target of around US $2 billion per annum,” said Kodeidja Diallo, Director of AfDB’s Private Sector Department.
Africa’s economic outlook will be discussed in depth. Experts and delegates will discuss the growth paths of Africa’s economies over the next five years.
The Forum will also address the subject of Africa’s competitiveness, which is a crucial factor for businesses. The organisers will tackle the issue of the World Bank’s Doing Business index which measures progress in the business environment of 189 countries each year. According to the index, of the bottom 50 countries, 36 are African.
A question to be asked is: Why is Africa lagging behind when Georgia, which is also an emerging economy, has climbed 100 places in eight years and now ranks in the top ten?
The urban explosion in Africa will also be high on the Forum agenda. The focus here will be rather on what percentage of the annual $25-billion consumer market African businesses can tap into, and under what conditions. Discussions will also centre around how African businesses, with their knowledge of transport, and linkages to trade and other sectors, could play a decisive role in structuring African cities and making them more productive.
Through its private sector window, the AfDB invests in infrastructure, financial institutions, industries, agribusiness, manufacturing and service sectors in Africa. It supports African enterprises to become more competitive at home and abroad, while continuing to attract foreign investment. An increasing demand for private-sector participation through innovative partnerships, presents significant opportunities for growth, synergy and impact.
Source: afdb.org
by SNGZ | Feb 9, 2015 | Tenders
Yellowstone Power Generation Project
Invitation for Expressions of Interest for EPC and O&M Contractors for a 350MW Gas-Fired Thermal Power Plant in Nigeria
Yellowstone Electric Power Limited (“Yellowstone”), wishes to invite interested qualified parties to express interest in providing engineering, procurement and construction (EPC services) and Operations and Maintenance (O&M services) necessary for the Turnkey implementation of its 350 MW simple cycle gas fired power plant. The power plant shall be constructed near the town of Ajaokuta in Kogi State, Nigeria (“the Yellowstone Project”).
Any party wishing to submit an Expression of Interest to provide EPC and O&M services for the Yellowstone Project (an (Applicant”) is hereby encouraged to contact the Designated Representatives listed below.
Each Applicant will be supplied with detailed information regarding the process for submission of an Expression of Interest, including the required supporting documentation.
The deadline for receipt of Expressions of Interest is February 21, 2015.
Based upon an evaluation of the Expressions of Interest received, Yellowstone (in its sole discretion) will select those Applicants to be invited to tender for EPC and O&M services for the Yellowstone Project.
Successful Applicants will be issued an Invitation to Tender (ITT) and other bidding documents.
It is anticipated that the ITT will be issued in April 2015.
Designated Representative:
Yellowstone Electric Power Ltd
4th Floor, the Octagon, 13A
AJ Marinho Drive, Victoria
Island, Lagos, Nigeria
Attention: Ms Sandy Eyal and Mr. Ronen Gani
Emil: sandy.eyal@quantum-power.com , ronen.gani@power-54.com
Please note that this is not an invitation to tender. Yellowstone shall be responsible for the cost of any submission. Any submission shall be at the cost of the Applicant. Yellowstone reserves the right to accept or reject any submission.
