Archive for nigeriang

Premier League youth sides to take centre stage

Premier League youth sides to take centre stage

The
Nigeria Premier League (NPL) have made known their intention to
organise a championship involving the youth sides of all the teams
taking part in this season’s Premier League championship.

Prior to the start
of the 2010/2011 season, the NPL made it mandatory for all the 20 teams
taking part in this season’s championship to register a youth team made
up of players under the age of 18. Plans are now underway by the NPL to
have these youth teams compete against one another in its bid to
develop youth football amongst the 20 clubs taking part in this
season’s top-flight. Spokesman for the NPL, Emeka Nwani, said that the
move is to ensure that the feeder teams of the 20 clubs are also
actively involved in playing the game rather than taking the back seat.
According to Nwani, the competition will take a format that will see
the various teams grouped into six zones as the NPL wants to take into
cognizance the fact that a league system will be financially too
demanding on the clubs.

20 teams, six zones

“The NPL will soon
organise a competition for the feeder teams of the 20 clubs taking part
in this season’s Premier League,” said Nwani. “Remember that the NPL
told all the clubs before the start of this season to ensure that they
set up their feeder teams with the age limit of players not more than
17 years. So in order to make sure that these feeder teams, or youth
teams as you will like to call them, are not just there for the sake of
being back-ups for the senior teams, the NPL has decided to start a
competition for them very soon. The competition will be in a zonal
format. This format we believe will be good for the clubs for the time
being.”

Nwani further revealed that the champions of the six zones are
expected to converge at a yet to be determined venue to feature in a
playoff that will determine the winner of the youth cup. The NPL media
man also took time to warn clubs of the grave consequence of fielding
players that are older than the stipulated 17 years during the proposed
competition. “The NPL will not condone a situation where clubs field
players that are older than 17 years. Once we discover that, I can
assure you that appropriate sanctions will be meted out to such a club
or clubs,” said Nwani.

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‘Friends of Rugby’ takes the game to schools

‘Friends of Rugby’ takes the game to schools

The Friends of Rugby, a group that promotes the sport, have concluded plans to host a school rugby tournament.

The tournament, to
be known as the Mike Ukome 12-A-Side Schools Rugby Tournament, is
scheduled to hold this Saturday at Saint Saviours School, Ikoyi, Lagos,
from 12 noon through to 6pm. Seven schools will be participating in the
tourney: St. Saviours School, Children International School, Corona
School and Toyibat. Others teams which will participate in the one day
event, which will herald the main 7’s Schools Tournament coming up
early next year, are Dowen College, British International School and
Addax Colt.

“We have decided to
return to the basics, which we started some 12 years ago by hosting a
schools rugby tournament,” said Ntiense Williams, the Secretary of the
group. “You will remember that there was Vitamalt Schools Rugby Program
which heralded Schools Rugby in Nigeria, and then came the Emeka Ukome
Annual Schools Tournament, which ran for almost five years
uninterrupted. According to him, in the last two years, nothing has
been heard about the Emeka Ukome Tourney, so the group decided to
revive it under a new name, Mike Ukome, so as to “give the school
children some rugby to enjoy and start getting involved in the
beautiful game of rugby at a tender age.”

According to the coordinator of the schools program, Emeka Ukome: “I
am very thankful to FOR and in particular Kelechi Mbagwu with his hard
working team for giving back hope to schools rugby, especially the Mike
Ukome Cup,” he said. He then went ahead to explain the format which the
tournament would take. “The event will be a 12-A-Side rugby tournament
for four categories of boys and girls namely, Under-12’s, Under-14’s,
Under-16’s & the Girls events,” he said.

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Imoke to flag off Obudu Race

Imoke to flag off Obudu Race

Cross
River State Governor, Liyel Imoke, will flag off the 6th edition of the
Obudu International Mountain Race coming up this Saturday at the Obudu
Ranch Resort.

William Archibong,
the Chairman of the Local Organising Committee, stated that the
governor has accepted to once again flag off this year’s race, which
will witness the staging of the second edition of the African Nations
Mountain Running Championships for both men and women.

“He will be
assisted by Bruno Gozzelino, the President of the World Mountain
Running Association, who has confirmed he will be here for the race,”
he said. Top stars, including the defending men and women champions,
Ethiopia’s Habtamu Fikadu Awash (men) and Mamitu Daskaas (women), as
well as three former champions led by reigning world champion, Andrea
Mayr of Austria, have all arrived for the race.

So much to win

Meanwhile, the
total prize money for this year’s race, according to Archibong, has
been increased by over $35,000 following the introduction of the
women’s version of the African Nations Mountain Running Championships.
The total prize money has gone up from $245,500 to $278,000. The prize
money for the first to the 10th position for this year’s race remains
the same, with the winners in each gender category going home with
$50,000 each, while $20,000 and $9,000 respectively will go to the
second and third placed finishers. The African Championship draws a
prize money of $15,000 for first team position, $10,000 for second and
$7,500 for third team position for both men and women.

The prize monies
for best Nigerian finishers in both gender categories, as well as the
respective winners of the men’s and women’s Media Race are also
unchanged with the top three finishers going home with $2,000, $1,500
and $1,000 respectively. Also unchanged are that for the Children’s
Race, where a total of N590,000 will be shared among the top 10
finishers with the top three in the boys and girls categories carting
home N100,000, N80,000 and N50,000 respectively.

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Six teams advance to quarters in youth cup

Six teams advance to quarters in youth cup

Six
teams have already confirmed their places in the last eight of ongoing
the C. Woermann Youth Football Championship, holding at the Astroturf
of the National Stadium, Lagos.

Last year’s
runners-up, Wincor Nixdorf FC, were the first team to book a place in
the quarter finals with a 1-0 victory over BPW FC yesterday after
topping group A with seven points. Big FC of Port Harcourt also made it
to the last eight after defeating Deutz FC 2-0, while Lorry Brand FC
made it to the quarter finals courtesy of two late goals against
Hanchang FC of Enugu. Another side that cruised into the last eight was
Mahle FC, who did so by beating Sthile FC of Owerri 2-0, as well as
C.Woermann FC.

Commenting on the tournament, former Super Eagles defender, Kingsley
Obiekwu, who is the coach of C.Woermann FC, said that the tournament is
serving as a platform for players in the grassroots to express and
expose their hidden talents. “Tournaments like these are really helping
to discover talents in the country,” he said. “The Most Valuable Player
at the 2009 edition, Ugonna Anyaora, now plays for FK Haungsund in
Norway. If the Nigeria Football Federation encourage championships like
these, by giving the organisers the desired backing, then we will fish
out good talents that will one day play for the national team.”
Obiekwu, who was a member of the Nigerian team that won a historic gold
medal at the 1996 Olympic Games in Atlanta, however expressed
disappointment with the performance of his club, C. Woerman FC.
However, he expressed optimism that his side will make it into the semi
finals.

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Obiekwu expresses confidence in Siasia

Obiekwu expresses confidence in Siasia

Former Super Eagles defender and a member of the team of Atlanta
1996 Olympics football team, Kingsley Obiekwu, has expressed confidence in the
ability the new Super Eagles Coach, Samson Siasia, to perform well at the task
of revamping the national team.

Responding to media personnel at the National Stadium, Obiekwu
said: “He (Siasia) has played in Nigeria and Europe and he knows what it takes
to be a good coach. He has paid his dues with the junior teams and I think now
is the time to allow the indigenous coaches to do what they know how to do.”

Obiekwu also advised the new coach to use scouts to source for
players. “There are very many good Nigerian players here and abroad that can
still play for the national team,” he said. “What Siasia needs to do is to just
scout for them. Since he cannot be everywhere at the same time, I will advice
he receives recommendation from people like ex- internationals and former
colleagues. However, picking who to field for his team should be his final
decision.”

Speaking also on the pitfalls he must avoid to have a successful tenure,
Obiekwu who says he trusts in the instinct of Siasia said, “I know he is a very
determined man and I know he would stand his ground,” he said. “He should not
allow the Nigeria Football Federation to toss him about. They have a way of
interfering that is not healthy. The best way to inculcate discipline to show
it and that is what Siasia should do.”

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Minister asks group to focus on rubber

Minister asks group to focus on rubber

The minister of
state for commerce and industry, Josephine Tapgun, has urged the Common
Fund for Commodities, an international financial institution
established by the United Nations, to pay more attention to rubber
projects in Nigeria.

She said this on
Tuesday when the organisation’s managing director paid her a courtesy
visit at her office in Abuja. Ms. Tapgun said that the Nigerian
government pays special attention to the organisation activities in
providing support to small scale enterprises and value addition to
commodities in Nigeria.

Ali Mchumo, CFC
managing director, said Nigeria is strategic to CFC programme
actualisation, and that Nigeria has shown political will and was the
only country among members of CFC from Africa that is making
contribution to the fund. Mr. Mchumo added that he hoped that Nigeria
would continue to play an important role in the institution’s
activities.

The courtesy call
was preparatory to the 22nd governing council meeting of CFC, holding
in Abuja. The governing council is the highest decision-making body
within the institution structure of the Amsterdam-based Common Fund,
which finances commodity development projects for small and medium
sized enterprises in commodity production, processing, and trade, in
developing and least developed countries.

The minister, who
also represented vice president, Namadi Sambo, at the opening of the
governing council meeting, expressed concern over the volatility and
instability of commodity markets with less than three percent of total
Official Development Assistance (ODA) to agricultural commodity sector.

She lamented the
continued restriction to market access of commodities from developing
countries to developed countries, and called for the abolition of such
practice. She challenged the World Trade Organisation (WTO) to remain
committed to development, as enunciated in the DOHA Round, with special
attention to the peculiar circumstances on developing and least
developed countries, and adopt an approach that would be fair and
transparent, with respect to trade in agricultural commodities.

The federal
government also promised to assist the CFC and strengthen its future
collaboration, as well as give both moral and financial support to the
organisation. Ms. Tapgun further said that recent economic and
political reforms embarked on by the government have drastically
improved the corporate governance and political climate of the country,
adding that it is not taking for granted the undeniable attraction of
the country to investors, and it is making efforts and striving hard to
improve the economic environment and introduce new incentives.

“We are taking
drastic measure to rebuild, overhaul, and considerably improve our
infrastructure, particularly power supply and transportation, in order
to increase the efficiency of our national economy and decrease the
cost of doing business. We have invested heavily in the provision of
steady power and have launched a road map on power.

“However, to
achieve quick and sustainable results, we are, among other measures,
privatising the provision of power and transport infrastructure,” she
stated.

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JP Morgan still managing Nigeria’s reserves

JP Morgan still managing Nigeria’s reserves

JP
Morgan, a United States investment banking and securities firm, has
said it is still managing $500 million of Nigeria’s foreign reserves,
in collaboration with Zenith Bank.

Tosin
Adewuyi, the bank’s senior country officer in Nigeria, said the
collaboration, which has been on since 2006, is still ongoing.

“Zenith
Bank Nigeria joint venture is still very much on. Nothing has changed
since then,” Mr. Adewuyi said at the sidelines of a workshop between
the Nigerian Stock Exchange, the London Stock Exchange, Thomson
Reuters, and JP Morgan, held yesterday in Lagos.

The
Central Bank, in October 2006, gave 14 Nigerian banks, with their
international asset manager partners, $7 billion each, out of the
country’s foreign reserves, to manage on behalf of the country.

The
14 global asset managers and their local counterparts were Black Rock
and Union Bank; J.P. Morgan Chase and Zenith; HSBC and First Bank; BNP
Paribas and Intercontinental Bank; UBS and UBA; Credit Suisse and IBTC
Chartered Bank; Morgan Stanley and GTB; Fortis and Bank PHB; Investec
and Fidelity; ABN Amro and Access Bank; Cominvest and Oceanic Bank; ING
and Ecobank; Bank of New York and Stanbic Bank; and Crown Agents and
Diamond Bank.

Mr. Adewuyi said despite the drop in Nigeria’s foreign reserves, the arrangement still subsists.

Deepening presence

He added that JP Morgan may consider deepening its presence in the country.

“We view Nigeria as a key market for us in Africa. In Africa, pretty much Nigeria comes into number two,” he said.

He, however, said the bank is not considering buying into any of the rescued banks.

“While
we are not purchasing a local bank, we do have relationship with some
of them and helping to build capacity. We don’t run a retail bank in
Nigeria, at least not now. Not to say, in the next two or three years,
we don’t see that as a viable model. But so far, we support banks,
corporations, and government behind the scene internationally,” Mr.
Adewuyi said.

Ibukun
Adebayo, head of primary markets, Middle East, and Africa of the London
Stock Exchange (LSE), said it was collaborating with the Nigerian Stock
Exchange to enhance its development. He said the Stock Exchange has
performed as expected, considering the fallout of the global financial
crisis.

“The
Nigerian Stock Exchange is doing exactly what the London Stock Exchange
is doing, which is keeping interest in the market. We (LSE) get a lot
more support from our regulators. In the UK, we operate under a more
flexible environment. We don’t have rigid rules,” Mr. Adebayo said.

He said LSE operates under codes which need not be rigidly adhered to, provided there is proven effort to comply.

“That
flexible approach to regulation means that we have actually works very
well and that has attracted a number of investments,” he said.

He
explained that unlike Nigeria, investors in the UK capital market have
a responsibility to the companies in which they invest.

“We
have the investors’ stewardship code, which effectively means that
there is covenant between investors. We don’t want you here today and
gone tomorrow. You have to shadow a certain amount of dedication to a
company over a period of time,” Mr. Adebayo said.

This arrangement, he said, helped to mitigate the repatriation of
funds from the UK market during the global financial crisis in 2008.

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Tiger buys into Nigeria food business

Tiger buys into Nigeria food business

South Africa’s
Tiger Brands, maker of food and consumer goods, agreed to buy 49
percent of the food business of Nigeria’s UAC, as it ramps up expansion
in fast-growing African markets to offset slack demand at home.

Tiger also said on
Wednesday it had acquired Deli Foods Nigeria, an unlisted biscuit
maker, and had formed a joint venture with Ethiopia’s East African
Group to manufacture and sell personal goods and food. It did not say
how much it paid for any of the transactions.

Tiger, which also
reported a slight decline in full-year profit, becomes the latest South
African firm to make a push into poor but rapidly growing sub-Saharan
frontier markets.

“Africa is a long
way from being developed, but fast-moving consumer goods such as food
will continue to be a staple consumption, and Tiger Brands wants to be
part of the action,” said Zaheer Joosub, an analyst at Citigroup in
Johannesburg.

Home to about 1
billion people, Africa’s population is expected to double by 2050. Many
frontier economies boast growth rates of 7 percent or more, far
outstripping the projected 2 to 3 percent in South Africa, the
continent’s largest economy.

In what may be the
biggest bet on the long-term outlook for the African consumer, U.S.
retailer, Wal-Mart Stores Inc., is in talks to buy a controlling stake
in South Africa’s Massmart, which also has a presence in some frontier
African markets.

Focus on Nigeria

Tiger Brands said Deli Foods and the Ethiopia business would initially add 500 million rand in annual sales.

The UAC deal will
give Tiger a big presence in Nigeria, Africa’s most populous nation and
sub-Saharan Africa’s second-largest economy, while for UAC, which is
struggling to fend off increased competition, the deal with Tiger is
“very positive”, said Akinbamidele Akintola, an analyst at Renaissance
Capital, in a note to clients.

“This strategic partnership might help turn around the operations of the business to regain market (leadership),” he said.

Tiger Brands, which
makes bread, breakfast cereal, and energy drinks, reported headline
earnings per share of 1.39 rand for the year to end-September, compared
with 1.41 rand last year.

Headline EPS is the main profit gauge in South Africa and excludes certain one-time and non-trading items.

Sales from
continuing operations fell 2 percent to 19.3 billion rand, hurt by
lower food prices and the weaker business environment. Tiger said that
while there was a steady increase in sales in recent months, it
remained cautious about the outlook for the first half of the new
financial year.

Shares of the
company were up 0.8 percent at 185.33 rand by 1018 GMT, compared with a
flat Johannesburg All-Share index. Tiger Brands shares have gained 8
percent so far this year, compared with a nearly 12 percent rise in the
benchmark.

Shares of UAC were little changed, outperforming a 0.7 percent dip in Nigeria’s All-Share index.

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Nigeria seeks African Development Bank support

Nigeria seeks African Development Bank support

The Federal
Government is exploring prospects of enlisting the support of the
African Development Bank (ADB) towards the execution of some critical
projects in the country’s power sector.

Olusegun Aganga,
the finance minister, said this on Tuesday, when Donald Kaberuka, the
ADB president, visited him in his office in Abuja.

“We have to take
advantage of the opportunities in the ADB to solve problems facing
African nations. As Africans, we believe that we have to manage our
issues by ourselves through the partnership with ADB,” Mr. Aganga said.

The minister, who
identified the Independent Power Projects (IPPs) as one area that
requires some attention, expressed optimism that the ADB would be able
to join the World Bank in providing the partial risks guarantees to
interest the Independent Power producers.

The finance
ministers and Central Bank governors in five African countries (C-10
Committee) had in its last meeting in Washington to discuss how issues
affecting Africa’s development could be tackled, directed Nigeria,
Egypt, South Africa, and Kenya to get together to explore creative ways
to solve the infrastructural issues affecting the African continent.

The meeting with
the ADB boss, Mr. Aganga explained, was in furtherance of that agenda,
considering the continued supportive disposition of the bank to the
government’s development efforts, particularly with the ongoing reforms
in the country to check the infrastructure deficit in the power sector.

Ineffective institutions

Besides, the
minister said the Primary Mortgage Institutions (PMIs), like Bank of
Industry (BOI), Nigerian Agricultural and Cooperative Banks (NACB),
Nigerian Export-Import (NEXIM) Bank, and National Economic
Reconstruction Fund (NERFUND), which were established to provide
support to government in the execution of it policies, have not been
living up to expectation.

“All these
institutions were set up by government to help execute government
policies in the different sectors of the economy. But, unfortunately,
government is not seeing the benefits of these institutions at the
moment,” he noted, adding that government is working on ways to ensure
that they become more active in providing finance to the real sector of
the economy of the country’s economy.

“We will see a big
difference and change in how government execute works with the PMIs.
The ADB has worked in so many countries to promote this effort by
sharing ideas to empower them to deliver their mandate to the economy.

“Government has
decided to empower all the banks in the country to work closely with
all these institutions towards the empowerment of Small and Medium
Enterprises (SMEs) and the development of the power infrastructure, to
ensure that they are provided with the support they require to execute
government policies the way they should have been done,” he said.

The ADB president
said he was in the country to, among others, explore ways of working
with the Federal Government to handle the assignment handed by the C-10
in Washington, adding that he was of the conviction that Africa will
come out of the global economic crisis stronger, if its resources are
properly managed to the benefit of the people.

“We are here to
interact with the Federal Government on ways to consolidate on the
achievements so far and to accelerate efforts on the development of
infrastructure in the country,” he said.

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Commodifying nature in an age of climate change

Commodifying nature in an age of climate change

For about two
weeks, starting from next Monday, the world will be locked into another
session of negotiations on how to tackle climate change. The
conference, to be held in Cancun, Mexico, has drawn less excitement
than its predecessor held in Copenhagen, Denmark, a year ago.

The excitement of
Copenhagen was partly driven by the false information that circulated
that the Kyoto Protocol was ending at that meeting. Though there were
serious, but failed efforts, made at that conference to lay the
protocol to rest, its first period actually ends in 2012, while a
second commitment period will be entered into as soon as the first
period elapses.

But why would
anyone want to kill the protocol and why should it be sustained? The
Kyoto Protocol is seen by some as the only legally binding instrument
to which the industrialised and highly polluting nations can be made to
commit to cutting emissions at source. From this perspective, when
countries fight to abolish the protocol, they are simply trying to
avoid making any real commitment to tackling climate change.

One problem with
the workings of the United Nations Framework Convention on Climate
Change (UNFCCC) and the ongoing negotiations is that it bases a chunk
of its reasoning and framings on the market logic. This follows the
path created by the mindset that has built a vicious paradigm of
disaster capitalism, in which tragedy is seen as opportunity for
profit. What do we mean by this?

Rather than take
steps to curtail emissions of greenhouse gases responsible for global
warming, some people are busy devising ways of making every item of
nature a commodity placed at the altar of the market. Through this,
everything is being assigned a value and many others are privatised in
addition.

What makes this
offensive is firstly that you cannot place a price on nature, on life.
Secondly, speculators are hyping the utility of the carbon market as a
means of fighting climate change. Some of the ways this manifests is
through the carbon offsetting projects by which polluters in the
industrialised countries continue to pollute, on the calculation that
their emissions are being compensated for elsewhere.

As Friends of the
Earth International stated in a recent media advisory, “Carbon trading
does not lead to real emissions reductions. It is a dangerous
distraction from real action to address the structural causes of
climate change, such as over-consumption. Developed countries should
radically cut their carbon emissions through real change at home, not
by buying offsets from other countries. Carbon offsetting has no
benefits for the climate or for developing countries – it only benefits
developed countries, private investors, and major polluters who want to
continue business as usual.”

Cancun will
obviously be crawling with carbon speculators and traders, as was the
case in Copenhagen. And they have good reasons to be there. They will
be there because policy makers on both sides of the divide see benefits
in the schemes, even though the so-called benefits are pecuniary and
are actually harmful to Mother Earth. But as far as the money enters
the pockets of some poor countries, the rich countries can go on
polluting, having paid their “penance.”

Not just money alone

The world appears
deaf to the need for real actions to curb climate change, and the focus
remains on money. In fact, while many of the items of the Cancun agenda
have stalled, with regard to reduction of carbon emissions in the
industralised nations, there is no shortage of proposals on how carbon
markets can be brought in to give appearance of action.

Reducing Emissions
from Deforestation and Degradation (REDD) is one of such schemes in the
scheme. Quick progress is being made on REDD and already, talks are
advancing on other variants of the scheme. Indigenous and forest
community people are opposed to REDD and object to its implementation,
as attention is being focused on forests merely as carbon stocks for
mercantile purposes. Significantly, many see REDD as not seeking to
stop deforestation, but merely to reduce it.

It is also argued
that that any reduced deforestation may not be sustained, as
deforesters may just shift to another forest or zone to continue with
their activities. In other words, REDD is a pretty fiction that may
pump money into the pockets of some countries and corporations, but
will marginalise forest peoples and will not help to fight climate
change. The attraction, as critics have said, is that if this mechanism
is linked to the carbon market, it will allow developed countries pay
money to REDD-projects that preserve forests in developing countries,
and in return receive carbon credits – buying the right to pollute.

There will also be
strident rejection of any role at all for the World Bank in the climate
finance architecture that may be devised in Cancun.

The atmosphere is
set for a somber, winding series of negotiations. However, social
movements and other civil society groups are set to push up the voices
of the people, as already broadly articulated in the Peoples Agreement,
reached at the World Peoples Conference on Climate Change and the
Rights of Mother Earth held in April 2010 at Cochabamba, Bolivia.

The environmental
justice movement that took first serious steps in Copenhagen is sure to
take firmer steps on the streets of Cancun and in thousands of Cancuns
being planned for a multitude of locations around the world.

The message in
Cancun, if we must expect motions towards real actions to tackle
climate change, is that governments must pay attention to what the
people are saying, to the real challenges faced by vulnerable peoples
around the world, and not lend their ears to carbon speculators.

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