The most innovative designers consciously reject the standard option box and cultivate an appetite for thinking wrong.


Jun 2014

Nigeria attracts N28tr private investment in four years – FG

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A total of N28 trillion has been invested into Nigeria’s economy by the private sector between 2010 and 2013.

This is over 100 per cent more than the Federal Government’s target of N13trillion for the period.

Minister of Information, Mr. Labaran Maku, disclosed this while briefing State House correspondents on Wednesday at the end of the weekly Federal Executive Council meeting.

He was joined at the briefing by the Minister of Tourism, Culture and National Orientation, Chief Edem Duke.

Maku said the figure was one of the highlights of the report of the implementation of first development plan of the country’s Vision 20:20 presented to the council by the Ministry of National Planning for review.

He said the report which would soon be presented to the public showed clearly that the present administration had achieved significantly the goals set out in the first implementation plan.

Nigeria's President, Goodluck Ebele Jonathan

Nigeria’s President, Goodluck Ebele Jonathan

He said, “One of the highlights of what we saw today was that under this period because of the present reforms that were really encapsulated ‎in the take-off of the first national implementation, we have overshot by more than 100 per cent the inflow of private sector investments in the economy.

“We targeted N13 trillion investment plan by the private sector to be able to reach our goals in the first plan.

“But the initial report we saw today was that the private sector actually invested over N28 trillion in the economy in the period between 2010 and 2013 which was over 100 per cent above the initial target of N13 trillion.

“What the report shows is that the Nigerian economy is growing by leaps and bounds and that inspite of the challenges we have had in the Northern part of the country, investments are continually flowing into the economy.

“The economy is growing and we have moved from 30th position in the global economy to 26th position by the end of 2013. We are now 26 from 30 when we started in 2010.”

Maku said the report further showed that by the time the government would implement the second plan between 2013 and 2017, the country will be moving closer to the 20th position on the global economy by the size of GDP.

He added that by the time the government implements from 2017 to 2020, Nigeria would have realised its dream of being among the 20 largest economy of GDP.

Maku also disclosed that President Goodluck Jonathan would on Tuesday perform the ground-breaking of the Centenary City being designed to mark the 100 years of the nation’s amalgamation.

He said all resources required for the city would be provided by the private sector while the Federal Government would facilitate by providing land for the project.

Duke said Nigeria will be playing host to Africa between July 2 and July 5 when it will be hosting the African Fashion Summit.

He said 25 countries had confirmed participation with 30 fashion journalists from 17 countries.

Judges, he added, would be drawn from Canada, Italy and South Africa for the event that will attract about 1,000 delegates.


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Jun 2014

Nigerian economy ‘significant,’ says Utomi

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Pat Utomi

Pat Utomi

FORMER presidential aspirant and Director of Lagos Business School, Prof. Pat Utomi, is optimistic about the Nigeria’s economy despite the odds, stating: “There is no question about the fact that ours is a significant economy, it does not mean that everything is well with it, but it has a great prospect.”

Utomi, who spoke on Monday in Calabar after chairing an economic summit organized by the University of Calabar Students’ Union, emphasized the need for managers of the nation’s economy to have a clear national approach towards this growth phase, as doing otherwise might foreclose an opportunity to grow it further.

He noted: “We are in a growth phase, it is important to be able to have a clear national strategy to approach this growth phase, otherwise we would find that the windows of opportunity might close before us.”

Utomi advised undergraduates to always think outside the box, noting that education is not all about certification but rather an opportunity to broaden the human mind. To that end, he charged students to be “creative, passionate and committed while doing the right things at all times.”

Meanwhile, in his keynote address at the summit tagged, “Cross River Beyond Oil: New Economic Realities and Youth Inclusion,” a governorship aspirant in the state, Mr. Emmanuel Ibeshi, advocated job creation policy in the state.

This, he said, would not only check the growing rate of unemployment among graduates but as well encourage skills acquisition. The former member of the House of Representatives, who tied the alarming rate of unemployment among graduates to non-professional courses, also called for a policy focusing on professional retraining.

He implored graduates to take advantage of several opportunities that abound in agriculture and tourism, among others, and canvassed scholarship programmes that would help develop graduates in other profitable fields of specialization.

The summit, according to the SUG President, Comrade Bassey Eka, advocates a shift of paradigm from oil as the nation’s most critical economic resource to setting agenda for creative alternatives.


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Jun 2014

Nigeria, Pakistan sign bilateral agreement, target $1bn trade volume

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Nigeria and Pakistan have signed a number of mutual agreements to boost bilateral trade which is expected to rise from less than $100 million to $1 billion within the next few years.

The deals were reached following bilateral talks on Tuesday at the State House, Abuja between Jonathan and President of Pakistan, Maroon Hussain, who is on a three-day state visit to Nigeria.

The bilateral agreements and memoranda of understanding meant to deepen ties between Nigeria and Pakistan cover agricultural development, industrial cooperation, cultural exchanges and trade/chambers of commerce, narcotics, anti-terrorism/security, poverty reduction and human capacity development.

Nigeria's President, Goodluck Ebele Jonathan

Nigeria’s President, Goodluck Ebele Jonathan

Briefing the press after the meeting with the Pakistani leader, Jonathan noted that despite the good relations between Nigeria and Pakistan, the volume of trade had remained low at less than $100 million.

He express his conviction that with faithful implementation of the bilateral agreements reached now, the trade volume would spike in the next few years to no less than $1 billion.

The President described Hussain’s visit as important given the fact that both countries are both suffering the scourge of terror attacks, and with Nigerian government battling to rescue young schoolgirls recently abducted by terrorists in Chibok, Borno state.

In his remarks, the Pakistani President underscored the need to institutionalise existing economic partnership, air services agreement and exchange of prisoners, in addition to the agreements on oil and gas, education, dairy/agricultural and industrial development.

Hussain disclosed that he would open a Pakistan Commercial Station in Lagos to give fillip to the cooperation efforts, which would extend to enhancing counter-terrorism measures of both countries.

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