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Power Industry Solicit For More Investment To Boost Power Supply

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Minister of Power, Works and Housing, Mr. Babatunde Fashola has urged local and international investors to take advantage of the various investment opportunities in the power sector to boost their fortunes and improve electricity supply in the country.

He made the call at the opening of a two-day EU/Nigeria business forum organised by the European Union (EU) delegation to Nigeria in Lagos.

“Public Private Partnership (PPP) is key in financing projects and providing infrastructure. We in governance recognise that and serious investors know we are ready to create a frame-work for sustainable development.”

According to him, investments in infrastructures such as energy, schools, highways, among others, are driving growth globally. Contributors at the panel discussion include Chief Executive Officer, Nigeria Sovereign Investment Agency, Mr. Uche Orji; Deputy Country Director, Agence Francaise de Development (AFD), Mr. Hugo Pierrel; Country Manager, International Finance Corporation, EmeEssien Lore; and the Head, Economic Cooperation and Energy Section, EU delegation, Mr. Juan CASlA.

They stressed the need to harness grants for renewable power generation, and called for increased commitments in power generation and distribution through partnership. The experts advanced the need for creation of credit guarantor system for projects in the power sector.

Kaduna State Governor Nasir el-Rufai said infrastructure deficit, especially electricity, had been a major problem in the textile industry, hence the need to support the government in providing steady power supply.

However, in an interview with The Guardian, Slovakia Ambassador to Nigeria, Peter Holasek, who introduced the country’s trade delegations to the forum, said their visit was part of efforts at establishing trade relations in key sectors of the economy such as energy, power, mining, ICT and food processing. He added that Slovakia businesses would seek established Nigerian business partners in the relevant sectors.

The Head of EU delegation to Nigeria and ECOWAS, Michel Arrion, said the objective of this year’s forum was to explore measures for financing power in Nigeria.

Governor of Lagos State, Akinwunmi Ambode, represented by Mr. Tunji Bello, and the President of Lagos Chambers of Commerce and Industry, Chief Mrs. Nike Akande, described the forum as timely, especially with the dwindling revenue from oil.

They stressed the urgent need to boost infrastructural development for economic growth, and expressed the hope that the meeting would engender mutual trade and economic relations.

 

 

 

 

 

Source: guardian.ng

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NEWS

Banky W Elated After Undergoing 4th Successful Surgery For Skin Cancer

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Banky W elated after 4th successful skin cancer surgery | fab.ng

Nigerian singer and politician Banky W is celebrating a victory! After successfully battling skin cancer for over 10 years, he recently underwent his fourth surgery for the disease.

On May 23rd, 2024, Banky W shared a heartfelt message on his Instagram.

The singer posted a video showing glimpses of his recovery journey. His wife, Adesua Etomi-Wellington, was like a pillar of support by his side. In a lengthy message alongside the video, Banky W encouraged anyone facing challenges. He expressed his faith that things would ultimately work out.

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MOVIES

Kanayo O. Kanayo Reacts To Ban On Ritual Scenes In Nollywood

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New Rules: Kanayo O. Kanayo reacts to ban in Nollywood | Fab.ng

Nigeria’s entertainment industry is buzzing with criticism over the government’s new rules for movies, music videos, and comedy skits. The government puts limitations on what can be shown in these forms of entertainment. This includes things like “money rituals,” “ritual killings,” and the use of tobacco products.

Big names in Nigerian entertainment are not happy about these rules. Renowned actor Kanayo O. Kanayo slammed the move as “arrant nonsense.” He questioned why the Minister of Arts and Culture, Barrister Hannatu Musa Musawa, would support such restrictions on creative freedom for filmmakers.

Veteran musician Mike Okri even suggested the government might be trying to hold back the entire film industry with these new regulations.

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MOVIES

I Was Collecting N4000 For A Lead Role – Lateef Adedimeji

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Lateef Adedimeji was collecting N4k for a lead role | fab.ng

Nollywood actor Lateef Adedimeji recently appeared on comedian Teju Babyface’s podcast, “Deep Dive.” He reminisced about his early days in the Nigerian film industry. He openly shared some of the financial realities he faced as a budding actor.

Lateef Adedimeji revealed that early on, in 2014, he was offered a lead role for a mere N4,000. This low payment reflected his position as a newcomer still trying to establish himself. However, things started to look up for him the following year.

By 2015, Adedimeji’s experience and talent began to be recognised, and his pay rose significantly. He mentioned roles in that timeframe that commanded fees between N100,000 and N200,000—a substantial increase from his initial starting point.

This discussion on the podcast highlights the challenges faced by many aspiring actors, who often have to accept lower pay until their talent and experience are recognised by the industry. Adedimeji’s story offers a glimpse into the perseverance and dedication it takes to navigate the early stages of an acting career.

“If I tell people that I wasn’t collecting N100,000, N200,000 until 2015/16, a lot of people would not believe me. Before then, the highest I collected for a lead role was either N4,000, N5,000, or N10,000. I was paid that low back in 2014 because it was more like a learning process.”

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