Newsexpress place banner advert Yudala genuine products
Buhari, investment authority brainstorm on second Niger Bridge

By News Express on 10/09/2015

Share on facebook Yahoo mail icon Gmail icon

Views: 1,876


President Muhammadu Buhari has met with the Nigeria Sovereign Investment Authority (NSIA), with focus on the performance of the Sovereign Wealth Fund, and the construction of the Second Niger Bridge.

At the Wednesday meeting between the Managing Director of the NSIA, Uche Orji, and the president, it was gathered that the federal government’s contribution to the Sovereign Wealth Fund (SWF) has been affected by the falling crude oil prices in the international market.

Briefing reporters at the end of the meeting, Mr Orji, said that the $1 billion initial sovereign fund contributed by the government recorded 15.7 billion Naira profit in 2014.

On the state of the fund, he said: “The government gave us $1 billion which is the only contribution we have received and we made 15.7 billion Naira profit last year from the contribution.

“We haven’t gotten additional fund from the government, but the fund is structured in a way that it can go through hard time.

“We all know oil price is volatile. It goes up and it comes down, but we have structured the fund such that it can remain consistently profitable.”

Mr Orji also stated that he discussed the commitment of the NSIA on the Second Niger Bridge, healthcare, agriculture and power with the President.

“We have a vehicle called NSIA Motorways Investment Company that partnered with Julius Berger Investment to become preferred bidder to the second Niger Bridge Project.

“We are still going through the process of signing the concession agreement so we become the concessionaire. But to do all of that, we have to prepare the project,” the NSIA boss said.

Mr Orji further explained that the investments the NSIA had made so far was in project preparation, “making sure that the environmental and social impact assessment is made.”

He said that the project preparation phase had cost the Authority $2.2 million.

The Second Niger Bridge is a significant project that will have three lanes on each side of the dual carriage road. (Channels TV)

•Photo shows prototype of the Second Niger Bridge.

Source News Express

Posted 09/09/2015 10:01:28 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Utuama appeals to delegates ahead of Delta 2015...

Ondo poll: PDP faction threatens INEC

What Nigeria (and Africa) must do to develop...

Delta to establish Investment Development Agency

Ramadan: Buhari warns against food price hike

Nigeria's internet users increase to 97 million

Demolition: El-Rufai warns against blanket marking of buildings...

African migrants find alternative routes to Europe

Tanzania gives 30-day ultimatum to foreigners

Peter Obi empowers Agulu youths with N24m, 41...

Magu to speak at global anti-graft conference

Navy urges Niger Delta communities to seize FG’s...

 

Latest News 123 die in tanker fire disaster FG eyes $1 billion tax windfall My role in Evans’ kidnap gang — Soldier •How he was nabbed Quit notice: Ohanaeze worried over non-arrest of Arewa youths Taraba Governor berates critics, dismisses allegations of genocide Anambra Election: Police dares Nnamdi Kanu, IPOB Emir Sanusi suspends another Bayero’s son for alleged disloyalty Delta Govt. establishes fish mills Northern group warns defenders of Igbo quit notice Osun West APC senatorial candidate tasks Muslims on occasion of Eld-el-Fitr Bombshell: Billionaire kidnapper Evans names 5 soldiers as gang members •1 already in police net Buhari, Dogara salute Muslims on Eid-el-Fitr

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (258,603 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (237,597 views) Shameless Genevieve Nnaji exposes breasts in public (195,031 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (169,569 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (164,774 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (146,212 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (126,715 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (121,242 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (111,697 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (105,196 views) Lagos plane crash: Journalist releases victims’ names (105,092 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (97,929 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,600) Business Verdict (17) Columnists (702) Complaints & Requests (92) Enterprise & Opportunities (157) Entertainment (333) Features (461) Global Business Monitor (154) International (1,426) Interviews (124) Live Commentary (28) Love Matters (59) News (25,785) Opinion (736) Pidgin (8) Politics (3,742) Religion (563) Sports (1,281) Stock Watch (18) AMA & Al Jazeera Global Update

 

CBN words on marble advert

 

 

Thousands of Biafrans gather at Nnamdi Kanu’s father’s palace for address...

 

APO Newsbreak logo

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!