Wednesday, September 26, 2012

Privatizing electric power generating companies

The preferred bidders for the five state power plants are : 
Transnational Corp. for the 947- megawatt Ughelli power station.
China Machinery Engineering Corp. (leading a group of companies) for the Sapele plant.
Amperion Power Distribution Ltd. for the Geregu plant.
Mainstream Energy Solutions Ltd. the Kainji hydro plant.
North-South Power Co. Ltd. for the Shiroro hydro power plant.
Kainji Dam

Nigeria, Africa’s top oil producer, is selling majority stakes in power plants.
The country will also let private investors buy as much as 70 percent of 11 distribution companies spun out of the former state-owned utility NEPA/PHCN.

Read More at Bloomberg - Nigeria names winning bidders for five state power plants.
More photographs of Kainji hydroelectric power site at skyscrapercity.

Tuesday, September 25, 2012

YouWIN is back

The previous installment of Federal Government grants program YouWIN yielded 1,200 big winners of N1m - N10m. Winners included the six winners of the presidential award (one from each zone):

Bimlack Jimon (NE), a graduate of geology with 1,000 palm trees and 26 employees. 
Robinson Omorogiuwa (SE) is a school proprietor with 49 personnel and hopes to use the grant to build more class rooms. 
Mbetobong Umoefih (SS) with 14 workers and an annual turnover of N7 million, 

Muritala Osuolale Bello (SW) has an IT company, Afrigold, with five employees and plans to employ 100 more. 
Mohammed Aminu (NW) has eight members of staff and hopes to employ 80 more in a computer-training business 
Gbenga Akin Makinde (NC) also into IT and hopes to increase his staff strength from 32 to 120.  

Source: 13 April 2012 - Jonathan says era of Godfathers in appointments is over

This time, YouWIN is women-only. Applications close on OCTOBER 14, this is the deadline for you to apply online with your business plan and other information.
What is YouWIN - Nigeria Grants
 Start planning now, and you could get grant money to grow as a Nigerian entrepreneur.  Here are some business ideas.  Good luck. 

Friday, September 14, 2012

Dead airline

Air Nigeria was beautiful, but now it has fainted like Virgin Nigeria before it.

Air Nigeria
But what beautiful design on the aircraft, it made my heart soar to see it in the sky above the expressway in Ikeja, Lagos.  The company management has suspended all flights and operations, and the picturesque eagle may fly no more.  Well, there may yet be a rescue. 
Previously, Richard Branson (Founder/CEO of Virgin) dumped the Virgin Nigeria effort.  Was it not a lovely dream?  The cool simplicity of the Virgin brand, serving the coolest, blackest market in the world.  It failed, and Richard Branson said Never Again would he attempt to do business in Nigeria because of the greed of the politicians.
Now, Jimoh Ibrahim (CEO of AirNigeria) blames "staff disloyalty and weak business environment" for the asphyxiation of his company.
Tell me about staff disloyalty!
A few years ago flying Virgin, I had to fend off this weasly porter at the luggage check-in counter.  He was desperate to let me carry luggage over the allowed weight.  He would discount the fee, you understand?  Jeez, I don't want to pay you.  I want to pay the AIRLINE, idiot!  And he had actually doubled the excess luggage weight in the first place.  Really, this employee was ruining the company that was trying to feed him.
Someone observed that this was why planes around here would sometimes "fall from the sky."  

A brief history of Air Nigeria (Source: , September 14, 2012)
AirNigeria Virgin Airlines

Air Nigeria History

Air Nigeria, (formerly Virgin Nigeria) was established in 2004 when the Federal Government of Nigeria and Virgin Atlantic Airways signed a Memorandum of Mutual Understanding (MMU) that gave birth to the airline. Air Nigeria, then trading as Virgin Nigeria Airways started operating on 28th June, 2005 with flights to London Heathrow, Johannesburg as well as regional and domestic flights using Airbus A340-300 and A320-200 aircrafts. The airline quickly endeared itself in the minds of consumers as a result of its excellent customer service delivery and safety standards (being the first West African carrier listed on IOSA directory).
Air Nigeria currently operates domestic and regional flights that cut across 16 locations in Nigeria and in the West and Central African region. From its operational base at the Murtala Mohammed Airport, Lagos, Air Nigeria operates to  Owerri, Port Harcourt, Enugu, Abuja, Kano and Sokoto on the domestic routes while it also operates to Brazzaville, Accra, Douala, Dakar, Monrovia, Cotonou, Banjul, Libreville, Sao Tome and Abidjan with further plans to extend services to more African destinations, Europe, Asia and America. Air Nigeria is currently pursuing its new focus and vision to dominate the domestic and regional markets.
Following the airlines’ acquisition by Barrister Jimoh Ibrahim of the NICON Group in April 2010, the airline is vigorously pursuing its vision of being the leading African airline with exceptional travel experience as well as making Lagos, a major hub in the sub-Saharan region.  Air Nigeria has within a space of five months, progressively embarked on an ambitious plan of fleet growth that now accounts for the actualization of its short term plan of having 10 aircrafts in its fleet before the end of 2010.
The airline is 100% e-ticketing compliant across her network and is the first Nigerian airline and first in West Africa to be listed on the IOSA Directory as it adheres strictly to the International Civil Aviations Organization’s safety regulations and standards. Its registration on the IATA Operational Safety Audit (IOSA) registry places it at par with the best airlines in the world having shown its commitment and demonstration to airline safety standards
Air Nigeria since inception, has always been in the vanguard of constantly reviewing its product offering to meet the demands of passengers. It offers a frequent flyer programme known as eagleflier® that seeks to reward passenger loyalty.
Air Nigeria continually strives to offer its passengers a unique customer experience from the point of first contact and on until they disembark from their flights. Both English and French speaking passengers’ needs are catered for as Air Nigeria’s crew are well trained to handle such needs.
That's all for now. Next up, I may comment on the new notes (controversy over 5000naira bill), and more exciting, a rush of funds to the stock market. Read, Share, and consider writing your thoughts - it's a group blog after all.

Tuesday, September 04, 2012

Back to reality?

Could the internet Honeymoon be ending?

Internet, Please don't die on me.

Oh, there's some life
Today's internet adventure.  Well, August was a good month.

Previously on UpNaira