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1HE GUARDIAN,Thursda)t October 2S, 2012
Business Appointments P21 The transformation agenda's tango with enhanced productivity ~ili;
43rd ANNUAL
.;r" it "
Canada strategises to increase FDI in Nigeria
G~NERAL MEE11NG
"'Tf{E
Union Bank ot Niger~\c-
Group "'-linI Direc'OI'/aIief Encu.iY1I Officar, Union Bank ,I Hlferli PIt, Mrs. Funb Oslbadu (lefT); Oepuly Gen.raI Unlpr. fllWlCll and Slrllqy. VIdor Akopu; MIl Claitmln, Rklwd Olck Kramer, 1'lhe43rd Jl'~ rellel.llMtlrinl 0111'11 bIn6t." Uyo, AkwIIbom S'.'e, on TuesdlJ,
Non-oil export earnings hit N37bn inAugust, says CBN
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.. ....
~Iexportearnrngsduring
the month of August lOU at
S231.36 mllllon(N17 blUlon~
The flgure represents an incruse of lUi and 108.7 pr"f cent atxM: the mts In the p~ 1 month ,:md lM c0rning period of lOll ording 00 theCBN, the lOOl non-ollexpon earnings mscoo account oflncr9se In theumIn~ from lndustrt.11 and manul'iictured products .rub- sec·
2
,."" In themomhly report rdeasm
by the apel bimk on lbcsda)\ tile development refleam.
largel}t the Inc:rr~ In rKripts In respect of Industrial and manufacrured pmdlKtS sub>«ton. A breakdown of recdplS
Alolal of N2.3 billion was guaranleed 10 9,641 fanners under Ihe Agricullural Credit Guaranlee Scheme (ACGS). This represenled an increase of 231.0 and 141.5 per cenl above the loans guaranleed in Ihe preceding monlh and Ihe corresponding period of 2011, respeclively. showed that proceeds of tndum1al m1nufactumt, agn. cultuTilI, mlner.tls .1nd foOd sub-sectors stood at SlOO.l 0111· Uon. ~o mil1lon, 1Zl5 mil-Uon.11O.s milllon.;meI Sl.l mil·
1100. ,.",.a..."
Il .1dded thal the shares of IndUSll1a1. manuractuml. agrl-cuJtur.t~ mln«.lls. food pr0ductS and tnMpon :iub-sectors In non-oil export proc«ds ~ tll.36.7, IOJ, 8.9, 0.9 and O.lpercnll. respectM:l)t The report st1t~ that Nigeria's crude 011 and natural
gas prodlK:tloo was e:stimlled atanave:ragrofu mlllkm b;u-.
"" ",n"_
According to the report. -Nigeria's crude 011 prciduc. tion. including condensates and nalural gas liquids. w.r> e:stimaleC:l at an iI\Ie:fiIg!' or 2J million pet'" day or :).1 million barnis for the month. This was O.CJJ mbd or 3.1 pet' ani a~ 1M il\le:rage 0( 2.13 mbd pr0duced In the pm::eding month. The d~loplTle'llt was .1ttrlbutedlo the riSt'lncrudeoll pr0duction from ~ deoep-waler
offshore alld tTildltlonal on· slwn fields .1SwelJ as reduction In crude oil thdt due to Incruscd security.rurve1ll.trn of the wa~ w.IY5-crudeofl ecport wasestl~t· eel at 1.85 mbd Of" 5735 million barrels. This repreRntm .1n Increase of 1.9 pu ant alxm the t78 mbd or 55.18 million barn:is recorded In the pm::edIng month. OeIM:ries to thl! refineries ror domestic con· rumption stood at 0.45 mbd or 1l.9S million bands during the month under m'iew -N. an esdmat«l aver.tg!' of $114.14 per barre~ the pt1Cl' of Nlgerta s ml!reflce crude. the Bonny Ught rose by 9.9 pr"f am. compared with the kYtl In thl! pnUding month. The incrNSe In pt1crwas attributrd to the riSf! In demand fOl'crude 0 11 mainly from lapan and North Ameria .15 well ;IS
Hl~h
emmuy Wit'; v.orIdng on <;trate-
10'
"'J1iE Cmlr.l1 B.mk of Nigeria .l(CBN) has put Nlgma's ilia!
Canadian
l Comm~r 10 N"~ Qui§: Coot~ on TlJI5dao; SiIid hr;
I~ased demlOO for fuel oU as an altema~ ~r source duringpoweroutages In Indu. The awr.t~ prices of othI!T competing oudes. namely the ~ Texas Intermedlille, we Brent and Fonados. al S91.79, $113.76 and S1539 per barrel.
~al!iOs~simi
I.1r trmd .15 the Bonny Ughl"
The rqx>n noled !hat ~II- able datJ Indicated that agn. rultur.l1 actMt~ In most part of the country recl!lvriI a major boost due to wriJ distrlbmeel r.tinf,:111 dunng the ~<h.
According 10 the n:port. actlYlties in the senor ~ doml· nated by the halWSting of maize, )'ilm and ~~ In
the Ilwstodc rub-seaor. tann-
ers continued the rMtoddng of brolkn In antJctpatlon oT sales during the forthcoming
cr::tfB.IlIED ON PAGE 16
~~I,med at Inc",<lSing lIS Direct lfl\.~ (rot) inNigma. COOter. who dlsclcxcd !hi! In Ahuja. during a meetmg wnh the Mlnl~ter of TlOldt' .ind Invt'stment. Dr. Olusegun ~ngil. said his (OlIntry' WoiI\ planning 10 Increa~ II~ mwst~nt withm tilt ~I fe'Wyeaf'l and had confidence In thl! Nlgttian I!CQnoUl¥ The envoy nOied thilt a~ pan of dfons to :ilrengthen tiad( and In\~ment relationshIp betVoftn the two countri~. morr Canadian Cl)mp.mil!~ had already indtcated their willingness to in~1 In Inrra structure projC'Cl~ .Kro~s Nlgerl.l. He explained th.u the rT"fO\.T WitS • (oIlow-up to thl! recelll Nigeriil-GJnada RI·Nation.]1 Commission m~ting in Ahuja with Nigeria's MiniSte .... of foreign Affairs and Tradfo and Inve'5tml!nt and lhe Canadi.1n Minister of Fumgn Affairs In atle:nda Il«' "Two w«ks ago, the Nlgeri.1-Can.1da HI·Natlona1 Commission m~ In AbuJa and tiKclI!nrre-pieceof that BiNatioll.1l CommlSSton was how to build and strengthen economic rda tlonshlps belwnon Nigeria andeall.1d.!. ~rO«', \\~ are kloldng at a",as whne Canadi.Jn companies an II"M"st In Nigeria and how they Gin ronn parmer· ships In Nigl!rla In line with the Nigeria-Canada BI National Commission: Cooc:er said. Aganga. .n the meeting. had said that lhl! Federal ~mlTll!nt would JIclrtnt"r with ~nuine in\~ors who were willing to Invest In critical .s«tors of the Nlgt'riiln
The sectors, he SOIkI. Indudl! infBstructun. mming, I~:r& chernlal and agri-buSJness In order 10 create jobs for the NIgt'rian peopl~ -we havt'a big !nfr.tSlruClure deflCll In Nigeriil .nd that Is why Ita- Federal GoYe~nt Is \ft)' conarMd .nd deter· mined to bridge d~ gap by devrioping the critlcallnm· structure rl!qulred to drive our Indusuiaf d~opment.
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Netherlands stakes 26m euros on cocoa initiative, cassava value chain I J toM Netherlands GUile d C str.ttegk' elixir for NIgnV'S COCOol Indum~ .15 the Emope.1n country ilnOOUnad ;} 10 mllikJo rums I~t Into the ailing sub.sector, to ~ Implemented (7Ioti a period of liveyears. The Dutch Amb.tSS.1dor co Nigerl.t, 8t:rt Ronh;yr. said his country had also contributed
six million eurm towards thl! develol?ment of NIgI:ria s GISSiIVo1 v.Jiue chain, by support.ing smallholder """'" grow=. Ronhaar, disclosed lhls In AbuJa. on TlJesdal( during a courtesy visll to thr Minister of Agriculture and Rural IkvdOpment Ill: Aldnwuml
Ad<O .... Ronhaar iKcompanied the
United Nations Spedal Envoy for FlnandaJ Inclusion, Princess M.uima of The Netht:rlands on the visit. The Princess Is the speaal Unltr'd Nations advocate who pbys the role of promodng ~t practJces and policies thai Int:re~ access to finance, ~nce consumer protection and enhance Hnandalllteraqt
~ Isalsoa patron ohheGlO Global Partnership for Rnandal Inclusion who acM>GUts the- impotUoce 0( complemenwity and coherena among global and counlryled tnfwtiYes while engaging sta.keholdm. The Dulch Ambassador saki that his governmenl was supponing cocoa growen and'me COCOiI processing
100""'"
The support, he eqllalned. had creilled opponunlties and Income for approxlmal~ Iy 100,000 Nigerian rarmers and their familia He ~, S.1kl that the most Impolt'ilnt aspect of the support was the experience and the drrw: with wllich the ~mml!nt rendered thesuppon to Nigena.
Furthermore, Ronha.lr said that a PfOWiImrnt to suppon the - Public· Pri\-"iltC' Partnership (rrr) In agro.pro. ces.slng alld honioilture in Nigeria wou ld be launched In lOU. He said that the progro.mme would bt' ImplmJ~nted by me International Fl!rtlliSf!r eotmNUED ON PAGE 16