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 | Jan 27, 2015 | News, Tenders
National Hajj Commission of Nigeria (NAHCON)
Invitation to Tender for Printing of Passport Appendices and Pilgrims’ Identity Cards for Hajj 2015
The National Hajj Commission of Nigeria (NAHCON), hereby requests reputable and competent printing companies to summit tender for the printing of passport Appendices and pilgrims identity cards for the 2015 Hajj operations. The items are as stated below
| Item |
Quantity |
Colour of Cover |
| Passport Appendices for ordinary pilgrims |
67,000 |
Ash |
| Identify cards for ordinary pilgrims |
67,000 |
|
Passport Appendices for international
pilgrims |
10, 200 |
Purple |
(2) Samples of the intended items shall be available for inspection by the prospective applicants at the procurement Unit of the Commission between 12noon and 4pm every working day within the advert period,
Tender Requirements
(3) Applicants must have the capacity to produce security documents and are required to submit the following:
(a) Current pension Clearance Certificate from PENCOM.
(b) Evidence of Compliance Certificate with the provision of section 6(1) (3) of the Ammended Industrial Training Fund (ITF) Act No. 19 of 2011
(c) Audited accounts of the Company for the last three years (2012, 2013 and 2014).
(d) Evidence of Experience in Jobs of Similar Nature and Complexity Executed within the last (5) years with Verifiable Letters of Contract Award and Certificates of Job Completion.
(e) Detail Company profile including contact address of the company and indicating CVs/Provisional Qualification of key Company staff.
(f) Evidence of verifiable Financial Capacity/Reference letter from a Reputable Bank (attach Bank Reference Letter).
(g) A Sworn affidavit that all the information/Documents provided is Correct and verifiable by the Organization.
Collection of tender documents:
Interested eligible Firms/contractors are expected to collect the tender documents from the address below:
The Secretary,
Procurement Planning Committee,
NAHCON Head Office,
Sokoto House.
No 1, First Avenue.
Off Ahmadu Bello Way,
Central Business District
Abuja
Interested eligible Firms/Contractors are expected to pay a non-refundable tender fee of Five Thousand Naira only (N5.000) in a certified bank draft payable to the National Hajj Commission of Nigeria.
Submission of Documents:
All Tender documents (Technical and financial) three copies each, are to be neatly bound and placed in two separate envelopes and clearly marked at the top left hand corner with TECHNICAL BID FOR PRINTING OF PASSPORT APPENDICES AND PILGRIMS IDENTITY CARDS FOR HAJJ 2015 and FINANCIAL BID FOR PRINTING OF PASSPORT APPENDICES AND PILGRIMS’ IDENTITY CARDS FOR HAJJ 2015 with the name of the Company/Firm clearly written at the reverse side of the envelope. The envelope should be addressed to:
The Secretary,
Procurement Planning Committee,
NAHCON Head Office,
Sokoto House, No 1, First Avenue,
Off Ahmadu Bello Way,
Central Business District
Abuja,
All tender documents should be dropped in the tender box located at the office of the Commission’s Secretary within working hours on or before Tuesday 10th March, 2015 at 2.00pm
Opening Of Bids:
Tender documents will be opened immediately following the deadline of the submission on Tuesday,10th March, 2015 by 2:00pm at the Reception Hall of the Commission’s Headquarters, National Hajj Commission of Nigeria. No.1 First Avenue, Off Ahmadu Bello Way, Abuja. All applicants and interested members of public are invited to attend the bids opening session.
Note Please:
Successful Companies are to note that:
(i) This invitation is not interested to create any form of contractual relationship or obligation on the part of the Commission; nether shall it be liable to any applicant for any expenses or loss incurred in connection with this application.
(ii) Interested bidders may obtain further information from the office of the Commission’s Secretary.
(iii) Failure to satisfactorily fulfill the conditions as requested above will result to invalidation of such bid.
(iv) Only shortlisted firms would be contacted.
(v) This advertisement is published for information purpose only and should not be considered as a commitment or obligation on the part of the Commission to award a Contract.
(vi) The Commission is not bound to shortlist any bidder and reserves the right to annul the bidding process without incurring any liabilities and assigning any reason thereof.
(viii) Bidding documents must be dully signed by an authorized official to bind the bidder to contract.
Signed:
Management
