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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.”

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