Archive for nigeriang

Foreign investment in Africa to reach $150b by 2015

Foreign investment in Africa to reach $150b by 2015

Africa could
attract billions of dollars in new investment over the next few years
as emerging market investors search for higher returns and foreign
perceptions of risk improve, Ernst & Young said on Tuesday.

The global
accounting firm said in a report titled “It’s time for Africa” that
foreign direct investment (FDI) into the continent was forecast to
reach $150 billion by 2015 from $84 billion in 2010, driven by strong
growth in new projects from next year.

Ernst& Young
surveyed over 562 global executives on where they would invest over the
next decade and 42 percent of them were considering investing further
in Africa while an additional 19 percent confirmed maintaining
operations in the region.

The report said the
continent was becoming increasingly attractive to international
investors planning new developments and expanding existing ones and
that perceptions were becoming increasingly positive over the longer
term.

It identified Asia as the only continent ahead of Africa in terms of investors’ perceptions.

“While Africa’s
challenges are well documented, there is an increasing recognition that
the continent is on an upward trajectory; economically, politically and
socially,” Ernst & Young’s said in its 2011 Africa attractiveness
survey.

It projected GDP to
grow to $2.6 trillion by 2020 from $1.6 trillion in 2008 and consumer
spending to increase 62 percent to $1.4 trillion over the same period.

Investors’ interest

Key sectors
targeted by investors include consumer products, construction,
telecoms, financial services and mining and metals — perceived to have
the highest growth potential over the next few years.

The survey showed
emerging market investors were positive about Africa’s attractiveness,
viewing the region as critical to their own growth, while developed
markets investors were cautious, saying that the region still needed to
develop further.

The African
continent, home to one billion people, had long been ignored by
international investors who only thought of the region in terms of
political instability and corruption.

But as the majority
of the 54 countries which make up Africa embrace democracy and install
reform-minded governments, analysts say the world’s poorest continent
and least tapped frontier markets could fast become a diamond in the
rough.

Ernst& Young
said investments in the continent by African countries grew 21 percent
between 2003-2010, but actual amounts were less than invested by other
emerging economies.

It highlighted the
high levels of risk involved in investing in Africa but said the
profitability levels compensated for the risk and that some sectors had
little competition.

“Despite the
improving perceptions of Africa, it is in competition for the
international capital and resources that will help drive and sustain
growth and social development,” it said.

“It is currently ranked in the same category as Latin America and Eastern Europe in terms of attractiveness for investors.”

REUTERS

Click to Read more Financial Stories

Federation vice chairman blasts Falcons

Federation vice chairman blasts Falcons

The Super Falcons’ unimpressive 1-1 draw against the Black
Queens of Ghana in an All Africa Games qualifier played at the Abuja National
Stadium, has attracted criticism from the first vice chairman of the Nigerian
Football Federation, Mike Umeh.

Umeh described the team’s performance against their Ghanaian
counterparts as shameful and unacceptable to Nigerians.

“I feel so bad. This is the least match we expected to draw.
Even 3-0 could not have been acceptable. Look at our so called big Falcons they
could not beat the small Ghanaians. I am not happy, I expected a win,” he said.

Asked what was responsible for the Super Falcons poor
performance, he said the team did not play to instructions and as well
committed silly mistakes like the one which resulted in the Black Queens’s
equalizer. He also said that the team lacks skilful players and got easily
tired in the second half of the game.

Despite the 1-1 draw which puts the Black Queens in a vintage
position, Umeh expressed optimism that the Super Falcons will qualify by
beating the Black queens in Accra in the second leg of the qualifier, which
comes up in a fortnight. He explained that the Black Queens will be under
pressure to qualify and that will give Nigeria some sort of advantage. Umeh
also hinted that the team will be overhauled to give room for better players
that will replace the ones that played the first leg in Abuja.

No chance

Reacting to the game, the coach of the Black Queens, Kuuk Adazi
wrote off the Super Falcons’ chances in the second leg in Accra by stating
emphatically that his side will beat the Falcons.

He said his side came to Nigeria with a clear tactics – to sit
in the rear, soak the Falcons pressure and catch them on the breaks which paid
off. He went on to boast that his young side, which consists of the under-20 side
that featured in the last World Cup will go places. He praised the Nigerian
team as well but advised the Falcons to work on their midfield department.

In the first leg of the encounter played at the Abuja National
Stadium between the Super Falcons and the Black Queens, which ended 1-1 apiece,
Desiree Oparanozie put the Falcons ahead in the 75th minute while Grace Asare
equalised for the Black Queens four minutes later.

Efforts to get the chief of the Super Falcons, Eucharia Uche and members of
the Nigerian Football Federation Technical committee to comment on the game
were unsuccessful.

Click to Read More Sports Stories

Real Madrid seek inspiration from past glories

Real Madrid seek inspiration from past glories

Real Madrid are attempting to revive former glories to inspire
them on their mission to overturn a two-goal deficit at arch-rivals Barcelona
in Tuesday’s Champions League semi-final second leg.

Real’s website (www.realmadrid.com) ran a picture on Sunday of
their players celebrating a 2-0 semi-final first-leg victory at the Camp Nou in
2002 that paved the way for their ninth and most recent triumph in Europe’s
elite club competition.

Zinedine Zidane and Steve McManaman scored that night and the
Spanish giants drew the return leg at the Bernabeu 1-1 before Real beat German
side Bayer Leverkusen 2-1 in the final thanks to Zidane’s stunning volley.

“Everyone agrees it will be difficult, but no one gives up
hope,” the club wrote.

“This historic precedent is just what Real Madrid need to have
even greater faith in their chances on Tuesday.” Goalkeeper and captain Iker
Casillas added his voice to the message of optimism.

“The names of the two teams that will play the final haven’t
been inscribed yet,” the Spanish World Cup winner said.

“You never know what may happen. We will play in Barcelona
knowing a final is set to take place in a month and that any of the four teams
still in the championship may be in it.” The ill-tempered first leg in Madrid
last week, when World Player of the Year Lionel Messi struck two late goals
after Real defender Pepe had been sent off, resulted in UEFA opening probes
into the two clubs.

They both filed a complaint about the other with European
soccer’s governing body,

Barca reporting Real coach Jose Mourinho for belittling his
counterpart Pep Guardiola’s achievements and Real accusing the Barca players of
play-acting.

Common sense

Barca president Sandro Rosell sought to ease tension ahead of
Tuesday’s clash, urging the club’s fans to “show good manners and common
sense”.

“Our supporters are a model of good behaviour and I am asking
them to show that again this Tuesday, especially because all eyes will be on
us,” he told the club’s TV channel.

“I want them to support the team, forget about all the other
stuff and not get provoked.”

Barca and Real rested key players and were beaten in La Liga at
the weekend, Barca surrendering the lead and losing 2-1 at Real Sociedad and
Real going down 3-2 at home to relegation threatened Real Zaragoza.

REUTERS

The results preserved Barca’s eight-point lead over Real at the
top with four games left and the Catalans remain firmly on course for a third
successive Spanish league title.

Barca’s defence has been ravaged by injuries and their problems
deepened on Saturday when they lost centre back Gabriel Milito to a thigh
strain and reserve team fullback Martin Montoya to a fractured clavicle.

There was more positive news on Andres Iniesta’s calf injury
when the Spain midfielder, who missed last week’s first leg, took part in
Sunday’s training session.

Heroic habit

Real will be without Pepe for Tuesday’s game and defender Sergio
Ramos is also suspended.

Mourinho, who was sent from the bench for protesting Pepe’s
dismissal, will have to watch from the stands.

“Madridismo always believes in comebacks,” Real Director General
Jorge Valdano said on Sunday.

“If there was just one team that had the habit of being heroic, it would be
Real Madrid. Nothing should deprive us of feeling hope and excitement for
Tuesday’s match.”

Click to Read More Sports Stories

Referee worries and Chelsea give United a "massive" week

Referee worries and Chelsea give United a "massive" week

Worries about refereeing decisions and a squad rotation
conundrum before a title showdown against Chelsea have transformed Manchester
United’s next week from comfortable to “massive”.

United’s defeat by Arsenal and Chelsea’s win over Tottenham
Hotspur over the weekend have shaken up the title race with Alex Ferguson’s
side only three points ahead of the champions who travel to Old Trafford on
Sunday.

A Frank Lampard goal for Chelsea, which television replays
showed had not completely crossed the line and a United appeal for a penalty
for Gael Clichy’s trip on Michael Owen have led to Ferguson voicing fresh
concern over refereeing.

“They (Chelsea) got great decisions for them (on Saturday) and
they seem to get these decisions at the moment,” said Ferguson, who has already
served a five-match touchline ban this season for criticising referees.

“They got one to win the league last season at Old Trafford,” he
added, referring to Didier Drogba scoring from an offside position. “So that’s
a worry. You go into a game worrying about these things.” Victory at Old
Trafford would put Chelsea top on goal difference, an almost unimaginable
situation for the most ardent Blues fan two months ago when they trailed United
by 15 points.

Chelsea benefit from a week’s rest before the game, while United
divert thoughts to Wednesday’s Champions League semi-final second leg against
Schalke 04 where Ferguson must field a strong enough side to defend a 2-0 lead
while keeping his top players fresh.

“They’re two massive games,” Ferguson, who has said he will make
changes for the midweek game, told MUTV.

Decisive game

While Ferguson is counting on United’s imperious home form to
hold up, Chelsea need little reminder that they were the last team to win at
Old Trafford more than a year ago.

“As we showed last year by going to Old Trafford and winning a
decisive game in the Premier League, there’s no reason why we can’t go there
and win again,” local media quoted Chelsea captain John Terry as saying.

“There’s no bigger spur than going to Old Trafford and winning
to put ourselves right in the frame for bringing the Premier League trophy back
to the Bridge.” Ferguson received his touchline ban for saying he “feared the
worst” when he saw Martin Atkinson was refereeing his side’s match at Chelsea
in March which ended in victory for the London side and a remarkable turnaround
in their fortunes.

Since that 2-1 win, Chelsea have dropped only two points and
they are also unbeaten in the league for 10 games.

While their cause was helped by the controversial Lampard goal,
United have not been without their own lucky escapes as defender Nemanja
Vidic’s hand ball was missed on Sunday when the Serb deflected Theo Walcott’s
dangerous cross for a corner.

United defender Patrice Evra refused to dwell on refereeing,
saying the main problem against Arsenal was his team’s below-par performance
and that as long as they can rediscover their pace and creativity they had
nothing to worry about.

“We just need to play the Man United way,” he told MUTV.

“We have our destiny in our hands. We have a massive game against Chelsea.
If we want to win the title then we have to beat Chelsea — it’s as simple as
that. If we don’t beat them then we’ll be in trouble.”

REUTERS

Click to Read More Sports Stories

Rooney misses training but should be fit for Schalke game

Rooney misses training but should be fit for Schalke game

Manchester United striker Wayne Rooney missed training on Tuesday but should be fit for their Champions League semi-final second leg against Schalke 04, manager Alex Ferguson said.

“He didn’t train this morning, he has a tight hamstring. He’ll be alright tomorrow,” Ferguson told a news conference on the eve of Wednesday’s match at Old Trafford where United start with a 2-0 advantage from last week’s first leg in Germany.

With Sunday’s potential Premier League title decider against Chelsea looming, Ferguson will rest players and has hinted that strikers Dimitar Berbatov and Michael Owen will be involved against the German side.

REUTERS

Click to Read More Sports Stories

Victorious Flying Eagles get heroic welcome

Victorious Flying Eagles get heroic welcome

New African U-20 champions, the Flying Eagles of Nigeria were
yesterday treated to a heroic welcome on arrival at the Murtala Muhammed
International Airport in Lagos.

The Nigerians, who defeated Cameroun 3-2 on Sunday to clinch the
African Youth Championship (AYC) title, were led into the country by the
President of the Nigeria Football Federation Aminu Maigari, and welcomed by
hundreds of singing fans and eager journalists who came to catch a glimpse of
the new set of football heroes.

Coach of the team, John Obuh thanked everybody that supported
the team en-route to being crowned champions of Africa for a record sixth time.
.

“It wasn’t an easy tournament no doubt but we thank God we came
out victorious,” he said. “We will continue to work hard and improve the team.”

Through the streets

Unlike the Super Falcons, who on their return to the country
after their victorious conquest at last year’s African Women’s Championships
were conveyed to their hotel aboard a truck not befitting of champions, the
Flying Eagles were placed in an open-roof bus made available by the Lagos State
government.

The team also displayed the Africa Youth Championship trophy as
they were driven through the streets of Lagos From the departure lounge of the
airport the players were taken to the presidential lounge of the airport where
the sports minister Taoheed Adedoja was on hand to receive the team.

Adedoja told the victorious team that President Goodluck
Jonathan was very pleased with their performance in South Africa and had given
his word that they will get a befitting reception from the presidency.

“The trophy you won is a sign of hard work and team work, I will
call this trophy Nigeria’s Goodluck Cup,” Adedoja said.

Adedoja urged the team not to relent on their achievement as
much would be expected from them at the World Championships in Colombia later
in the year.

“We are happy that you are the new African champions but we will
pray that you will also go ahead to rule the world,” he added.

The players and officials of the Flying Eagles were later
treated to a dinner at the Sheraton Hotels in Ikeja.

The Flying Eagles’ victory gave Nigeria its first AYC title since 2005.

Click to Read More Sports Stories

‘Argentines are not magicians’

‘Argentines are not magicians’

As
the Super Eagles gear up for the June 1 friendly match with Argentina,
first vice-chairman of the Nigeria Football Federation, Frank Umeh
believes that the Nigerian team can earn a rare victory over the
two-time former world champions.

“Argentines are not magicians; we can beat them,” he said.

“With adequate preparation for the match and the full commitment of the players we can talk of victory.”

Already the Super
Eagles coach, Samson Siasia is expected to make public this week, the
list of players that will be playing the highly anticipated friendly
match, with Wigan forward Victor Moses expected to make the list ahead
of his debut for Nigeria.

The Super Eagles
were defeated 1-0 the last time they faced the Argentines at the 2010
World Cup; a match that witnessed a string of spectacular saves from
Hapoel Tel Aviv shot stopper Vincent Enyeama who emerged as Nigeria’s
hero on the day.

Time and time
again, Enyeama prevented the Argentineans, in particular two-time
reigning FIFA Player of the Year, Lionel Messi, from hitting the back
of the Nigerian net.

And the Nigerian
shot stopper, who was in a Lagos yesterday to attend a function, said
he was also looking forward to the match and hopes for a favourable
result.

“It’s going to be great match, I am really looking forward to the match,” he said.

Enyeama against Messi

Asked about the
secret of his splendid display last time out against the Argentines,
Enyeama said his personal resolve to put smiles on the faces of
Nigerians accounted for his heroics.

“It wasn’t about
not allowing Messi to score or any other thing, I just wanted to put
smiles on the face of Nigerians and that was all I did even though we
eventually lost,” he said.

Aside the June 1
date, the Super Eagles are still expected to play another exhibition
match with Argentina in Bangladesh later in December.

Although Nigerian
and Argentinean teams have met on a number of occasions, especially at
age-grade level, the first game between both countries at senior level
was at the 1994 World Cup in the United States of America where the
South Americans ran out 2-1 winners after current Super Eagles coach,
Siasia had shot the Super Eagles into the lead.

Then came a
goalless draw the following year at the FIFA Intercontinental Cup, the
forerunner to the present-day FIFA Confederation Cup, before a 1-0 win
by the Argentineans at the 2002 World Cup.

That was the last time both sides met at senior level until last year’s World Cup encounter.

Click to Read More Sports Stories

United to rest players against Schalke

United to rest players against Schalke

With
a title-deciding match looming against Chelsea on Sunday, Manchester
United manager, Alex Ferguson has decided to rest some of his players
against Schalke today in the second leg of the UEFA Champions League.
United hold a handsome lead of 2-0 going into today’s match.

United did not play
well against Arsenal on Sunday and it was very surprising that as soon
as Arsenal could get a hold of Wayne Rooney, United lost all their bite
going forward. So Ralf Rangnick and his players will have at least one
strategy today; hound Rooney wherever he is on the pitch.

Another factor is
that some players may be prioritising matches in their head – thinking
which match is more important, so it will be Ferguson’s job to field
the players that will concentrate against the Germans for 90 minutes.

Ferguson hinted on
what his line-up could look like today; “I will make some changes on
Wednesday without question. I will bring Paul Scholes back in, Dimitar
Berbatov, Michael Owen.

“We’ll need to do
that but I will probably keep my experienced players at the back. We
have a big week ahead. Wednesday is a European semi-final second leg
and then the game on Sunday. Two massive games, so we will regroup and
freshen it up.” Schalke 04 goalkeeper,

A class apart in Gelsenkirchen

Manuel Neuer
produced a series of saves at the Veltins Arena to deny the Red Devils
a more comprehensive victory and the German number one will try to deny
United more goals as he visits the Theatre of Dreams for the first time.

The first leg
showed that United were far superior to their opponents but they need
another stellar display tonight to book their ticket to Wembley for the
finals on May 28 to face Barcelona.

But legendary
Schalke striker, Raul remains optimistic and that optimism must have
arisen from the 71 goals that the Spaniard has scored in European
competitions.

Raul said, “There
are 90 minutes left and we’re not going to just give up; we know it’s
very difficult but will try to at least leave a good account of
ourselves.”

Schalke lost 4-1 to Bayern Munich at the weekend but that defeat could be easily blamed on preparing mentally for today’s match.

One of the star
performers for the Germans in that first leg loss was Neuer, who is
also one of the goalkeepers that United is looking at to replace Edwin
van der Sar, who is retiring at the end of the season. But Neuer’s
agent, Thomas Kroth has said Neuer was not thinking of playing in
England.

“Manuel is not
interested in joining Manchester United. He is not interesting in
leaving Germany. He will stay in Germany. That is definite.”

There is also a definite time line to who qualifies for the final of the Champions League and that time line starts at 19:45!

Click to Read More Sports Stories

Odemwingie reveals goal-scoring secret

Odemwingie reveals goal-scoring secret

In-form Nigerian striker Osaze Odemwingie has revealed the
secret behind his impressive performance for West Bromwich Albion. And believe
it or not, it is a sports psychologist.

The Uzbekistan-born Nigerian international has been one of the
revelations of the English Premier League season following his arrival at the
start of the campaign from Russia’s Lokomotiv Moscow, and for a modest fee of
£2.5m.

He has, however, repaid West Brom every penny of their initial
investment with a series of impressive displays as well as an equally
impressive return of 14 goals – a club record for goals scored in a season.

Odemwingie’s 14th goal of the campaign arrived in last weekend’s
win over Aston Villa, and it was his fourth strike in four consecutive games
for the Baggies.

However, in the events leading up to his goal at the Hawthorns,
Odemwingie was accused of diving by Aston Villa players who claimed the
Nigerian dived to win the free-kick from which he brought West Brom back into
the game.

From the resultant free-kick, Odemwingie had little time to
think before burying a ball flying around the Aston Villa penalty area to
cancel out the visitors’ lead.

The goal also gave the Baggies the belief to go on and beat
their opponents for the first time in 18 attempts since 1985.

Sports shrink

And Odemwingie insists he is no cheat, adding that sessions with
a sports psychologist has helped to bring out the best of his ability.

The sessions began when Odemwingie, struggling to maintain his
early scoring form for the Baggies, consulted a sports shrink at the behest of
erstwhile West Brom manager Roberto Di Matteo after the Italian had noticed
that, in the words of the Nigerian, he was “a bit down”.

“The psychologist showed me an image of a running cheetah,” said
Odemwingie. “He said that when I run, he sees that in me; that I change
direction and I’m quick.

“The thing is that cheetahs have the belief in their speed and
quality to catch their prey. That means when they lose one they’re not scared
because they’re going to get the next one. He said ‘put that in your mind and
don’t be too worried about a lost chance’.

“He was trying to make me forget about missed chances and bring
out the instinct.

He said I was a player who does better using instinct, playing
naturally, than by thinking. That week I had a chance to seal the game and I
missed, but in the next match I scored a last-minute winner against Blackpool.”
It is a strategy that has continued to work for the former player of French
side Rennes who now needs just one more goal to surpass his all-time season
best of 14 goals which he scored in the 2004/05 campaign during his time in the
French Ligue 1.

Last weekend’s win also ensured West Brom’s Premier League
status and Odemwingie had this to say.

“I knew how important this game was for our supporters,” he continued. “Most
importantly we got the three points which made the situation more clear to us
that the future is bright.”

Click to Read More Sports Stories

Salif Keita in Lagos this week

Salif Keita in Lagos this week

Malian music
superstar Salif Keita will headline the first VIP Club Nite of
Francophone World Music, which holds at the Oriental Hotel in Lagos
this week.

Known as ‘the
golden voice of Africa’, Salif Keita is one of the most successful
exponents of African music on the international scene. In addition to
his infectious Afro-pop sound, Keita is also an activist on behalf of
his fellow albinos, who are targets of ritual killings in many African
countries.

Jimi Sadare of
Effrakata Entertainment, promoters of the show, which commences at 8pm
on Friday, May 6, said the event is part of activities for the
re-branding of the company’s former ‘Francophonynite’ into a VIP night
of Francophone world music. “The event will be a night of blending the
Francophone with Anglophone; it will be fun. I have been friends with
Salif for close to 10 years, his music has a therapeutic effect on me.
That is why am bringing him for Nigerians to enjoy what I have been
enjoying,” he said.

When asked about
his company’s focus on Francophone artists, the soft-spoken Sadare
said, “It will be my joy to bring recognition to Nigerian acts also. I
discovered Francophone musicians when I was exploring countries like
Mali, Togo. There was so much peace and fun there, and the music is so
soothing, that is what am trying to transport to Nigeria.” He told
reporters that he was the first person to promote a Nigerian artist in
Francophone countries. “Flavour performed in Lome through my company,
and am willing to sell more Nigerian acts.”

According to the
travel and entertainment boss, the VIP Club Nite is targeted at mature
minds, members of the diplomatic corps, expatriates, celebrities and
others. The Salif Keita show will be the first of quarterly VIP Club
Nites, while the Francophone World Music night will hold monthly,
attracting both foreign and indigenous artists to perform for select
audiences.

Also on the bill for the Oriental Hotel show are music acts like the
Afrobeat/jazz band, Ayetoro, as well as deejays from Togo and the
Republic of Benin.

Click to read more Entertainment news