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THE NATION TUESDAY, APRIL 28, 2015 11<br />
THE NATION<br />
BUSINESS<br />
E-mail:- bussiness@thenationonlineng.net<br />
Institute signs MoU<br />
with agency to<br />
monitor hotels<br />
From Bukola Amusan,<br />
Abuja<br />
THE National Institute<br />
for Hospitality and<br />
T o u r i s m ,<br />
(NIHOTOUR) has signed a<br />
Memorandum of Understanding<br />
(MoU) with the<br />
Trans African Homes and<br />
Estate Management Services<br />
to monitor and regulate the<br />
activities of hotels in the<br />
country.<br />
The Director of<br />
NIHOTOUR, Chika Balogun<br />
who signed the MoU on behalf<br />
of her agency said it is<br />
always ready to work with<br />
sister agencies that will make<br />
its work easier.<br />
She said NIHOTOUR is<br />
highly disturbed with the<br />
ways some hotels are being<br />
operated in the country<br />
where rules, standards and<br />
regulations are not being<br />
considered in their operations<br />
“We are partnering with<br />
the Trans African homes and<br />
estate management services<br />
to boost the services of hotels<br />
in the country, to train hotel<br />
staffs and assess their services<br />
and operations periodically<br />
“We are worried over the<br />
state of some hotels in our<br />
cities and it is time we start<br />
to proffer sanctions to hotels<br />
that fail to operate within<br />
the approved guidelines,”<br />
she said.<br />
She added that training of<br />
hotel workers will assist in<br />
boosting the revenue of hotels<br />
so that a unique selling<br />
point can also be maintained<br />
in their services.<br />
Chairman, Trans African<br />
Homes and Estate Management<br />
Services said the agency<br />
embarked on the partnership<br />
in order to bridge the gap in<br />
the way hotels are being<br />
managed in the country.<br />
He said the agency will<br />
work with NIHOTOUR to<br />
recognise hotels that can be<br />
worked with in the first<br />
phase of the exercise.<br />
Oil<br />
COMMODITY PRICES<br />
Cocoa<br />
Coffee<br />
Cotton<br />
DATA STREAM<br />
$58/barrel<br />
$2,686.35/metric ton<br />
¢132.70/pound<br />
¢95.17pound<br />
Gold $1,396.9/troy<br />
Sugar $163/lb<br />
RATES<br />
Inflation 8%<br />
Treasury Bills -10.58%(91d)<br />
Maximum lending 30%<br />
Prime lending 15.87%<br />
Savings rate 3%<br />
91-day NTB 15%<br />
Time Deposit 5.49%<br />
MPR 13%<br />
Foreign Reserve<br />
$34.5b<br />
NIGERIA’s bid to mi<br />
grate to digital<br />
broadcasting in the<br />
next two months may be a<br />
mirage after all, as about 95<br />
per cent of television boxes<br />
in Nigeria are analogue.<br />
Executive Director, Pinnacle<br />
Communications Mr.<br />
Dipo Onifade, said the Nigerian<br />
Broadcasting Commission<br />
(NBC) has been deceiving<br />
Nigerians about the<br />
project.<br />
Onifade whose firm won<br />
a bid to distribute signals<br />
to homes alleged that the<br />
planned Jos digital switchover<br />
was a hoax, designed<br />
to deceive Nigerians and the<br />
Federal Governmen into<br />
thinking that the sqitchover<br />
is about to commence.<br />
He insisted that it will be<br />
impossible for the country<br />
to distribute 26 million<br />
boxes to households in Nigeria<br />
before the deadline.<br />
Besides, there is a pending<br />
legal action before the law<br />
THE Ogun State govern<br />
ment yesterday signed<br />
an agreement with the<br />
Chinese Civil Engineering<br />
Construction Company<br />
(CCECC) for the construction<br />
of inter and intra-city<br />
railway project to commence<br />
soon.<br />
While the Secretary to the<br />
State Government(SSG), Mr<br />
Adeoluwa Taiwo, signed the<br />
contract documents on behalf<br />
of the state government, the<br />
Chairman of the construction<br />
firm, Mr Cao BaoGang,<br />
signed for it.<br />
Governor Ibikunle<br />
Amosun and his Works<br />
Commissioner, Arc. Lekan<br />
Adepite served as witnesses<br />
• 95% households yet to get set-top<br />
boxes • Jos launch a hoax<br />
From Vincent Ikuomola,<br />
and Kehinde Ore<br />
court which could also hamper<br />
the country’s switchover<br />
plan before the deadline.<br />
The Geneva 2006 Agreement<br />
sets 17 June this year<br />
as the date after which countries<br />
may not be able to use<br />
the frequencies currently<br />
assigned for analogue television<br />
transmission for<br />
digital services, without being<br />
required to protect the<br />
analogue services of neighbouring<br />
countries against<br />
interference.<br />
This date is generally regarded<br />
as the internationally<br />
agreed date for analogue<br />
switch-off date along<br />
national borders.<br />
The Broadcasting Organisation<br />
of Nigeria (BON)<br />
had recently allayed the<br />
fears that the country will<br />
be switched off from the international<br />
community<br />
should it fail to meet up<br />
with the June 17 digital<br />
switch over deadline.<br />
But Onifade, explained<br />
that plans by Nigeria to migrate<br />
to digital broadcasting<br />
by June 17 might have<br />
hit a brick wall, following<br />
the apparent unpreparedness<br />
on the part of the Federal<br />
Government to meet<br />
the deadline.<br />
On why he felt the country<br />
was not prepared for<br />
the digitaal switch on,<br />
Onifade said more than 95<br />
per cent of television boxes<br />
in Nigeria are analogue<br />
while 26 million households<br />
are yet to get these<br />
boxes barely two months<br />
to the deadline.<br />
Commercial banks are not manufacturing-friendly<br />
as their interest<br />
rates are usually very high; therefore,<br />
commercial banks remain a<br />
major challenge to the sector. Even<br />
the Bank of Industry’s (BoI) framework,<br />
which pegs interest rate at<br />
nine per cent, only finances machinery<br />
acquisition; it does not cater for<br />
working capital.<br />
-MAN President, Dr Frank Jacobs<br />
Nigeria far from digital<br />
migration, says Pinnacle chief<br />
He also noted that the<br />
current arrangement favours<br />
foreign media companies;<br />
accusing the NBC of<br />
conniving with a South African-based<br />
firm to shut out<br />
indigenous firms from participating<br />
in the process.<br />
He added that every<br />
household in Nigeria will<br />
be compelled to pay over<br />
N6,000 in order to secure<br />
the set-top boxes in order<br />
to enjoy the dividends of<br />
the digital migration.<br />
He said: “We are talking<br />
about digital switchover.<br />
Nigeria is nowhere near<br />
being ready to switchover.<br />
This takes time. About 95<br />
per cent of television boxes<br />
in Nigeria are analogue.<br />
How are you going to distribute<br />
26 million boxes to<br />
households in Nigeria before<br />
the deadline? These issues<br />
have not been ironed<br />
out; so, we are not ready to<br />
migrate.<br />
• From left: Chairman, Jaiz Bank Plc, Dr Umaru Mutallab; Vice President Namadi Sambo and Managing Director of the bank,<br />
Mr Muhammed Nural-Islam, during their courtesy visit to the Vice President at the Presidential Villa in Abuja...yesterday.<br />
Consumers seek<br />
independence as<br />
NERC offers to<br />
fund advocacy<br />
From John Ofikhenua and<br />
Ayorinde Hope, Abuja<br />
WITH one voice, elec<br />
tricity consumers<br />
yesterday told the<br />
Nigerian Electricity Regulatory<br />
Commission ( NERC)<br />
not to temper with the independence<br />
of the Nigerian<br />
Electricity Consumer Advocacy<br />
Network (NECAN).<br />
The interaction was all at<br />
the inaugural meeting of the<br />
commission with the group<br />
in Abuja.<br />
Their fears was that since<br />
NERC would provide the<br />
take-off fund for the running<br />
of the affairs of NECAN, the<br />
commission would not allow<br />
it the desired autonomy to<br />
operate effectively.<br />
Representative of Golden<br />
Spring Estate, Sylvester Ugu<br />
said the platform has been<br />
for customers to build upon<br />
and do their homework.<br />
He said: “I think the proper<br />
thing to do is to have our independence,<br />
and it is for the<br />
association to get registered<br />
with the Corporate Affairs<br />
Commission (CAC). That<br />
takes it off from NERC and<br />
NERC will now be making<br />
recommendations.”<br />
Besides, representative of<br />
Lafarge Cement, Dr.<br />
Abdullahi Buba said there<br />
was suspicion even if it was<br />
not based on fact. “So I still<br />
want to emphasise on the risk<br />
of independence. From the<br />
document you have presented,<br />
I want to say more on<br />
the mitigating aspect, that<br />
this body is independent of<br />
NERC, but it must be seen to<br />
be independent of this<br />
body.”<br />
The commission had in its<br />
terms of reference for the development<br />
of framework for<br />
engaging consumer advocacy<br />
groups in the Nigerian Electricity<br />
Supply Industry (NESI)<br />
maintained that it would provide<br />
a start-grant for the Corporate<br />
Head Office of the<br />
NECAN.<br />
The terms of reference<br />
reads: “The start-up grant will<br />
incorporate office furniture<br />
and utilities, salaries for its<br />
core staff for two years, and a<br />
funding for some of its consumer<br />
education and<br />
outreach activities.<br />
Ogun, Chinese firm seal intra-city railway deal<br />
From Ernest Nwokolo,<br />
Abeokuta<br />
in a ceremony attended by<br />
the Chinese Consul-General,<br />
in Nigeria, Lin Kan.<br />
Although discussion about<br />
the cost implication is still<br />
ongoing between the two<br />
parties, it is estimated that<br />
about $3billion will be spent<br />
on the project while the construction<br />
work would take at<br />
least three years to be completed.<br />
On completion, the railway<br />
project is expected to ring the<br />
four divisions of the state and<br />
places such as Abeokuta-<br />
Sagamu-Lagos, Ilaro, Agbara<br />
Industrial Estate and Idiroko.<br />
Other places to be linked<br />
with the rail project include<br />
Papalanto, Lafenwa in<br />
Abeokuta, Ijoko - Ota,<br />
Alagbole, Akute and parts of<br />
Ijebuland, the Redeemed<br />
Christian Church of<br />
God(RCCG) area (Sagamu)<br />
and that of the Winners<br />
Chapel (Otta).<br />
In justifying the need for the<br />
rail system, Amosun said the<br />
project upon completion,<br />
would take the much pressure<br />
off the roads as well as boost<br />
commerce and industries in<br />
the Gateway State.<br />
The governor however said<br />
the work on the railway<br />
project wont commence until<br />
ongoing roads and bridges<br />
being built in the state are<br />
completed with the laying of<br />
the last asphalt.<br />
According to him, emphasis<br />
would also be placed on building<br />
rural roads to open communities<br />
and villages in the<br />
state for rapid socio-economic<br />
growth and development.<br />
While urging CCECC to<br />
work round the clock and ensure<br />
the project reaches an<br />
appreciable stage when the<br />
state would clock 40 years<br />
by February next year,<br />
Amosun said it will redefine<br />
the landscape of the state and<br />
also engender the desired development.<br />
Amosun said: “No doubt,<br />
this is an important day in<br />
the history of our dear state.<br />
This agreement signing with<br />
the Chinese company for the<br />
rail project, when completed,<br />
will complement our road infrastructure<br />
all over the state.<br />
“Apart from infrastructural<br />
development, it will also attract<br />
bring to our state, it will<br />
also create jobs for our people<br />
and as well as quicken the<br />
movèment of persons and<br />
goods across the state.<br />
“Like I always emphasise,<br />
without functioning and<br />
proper infrastructure, we<br />
cannot develop. This step we<br />
are taking today will help in<br />
technology transfer and<br />
bring positive impact on the<br />
lives of our people.”