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Pres. Buhari to sign a €50Million Euro Loan Agreement with France for Capacity Building in the Power Sector

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President BuhariThe Federal Government would, in May, sign a 50 million Euro (about (N11.15 billion) loan agreement with French government for capacity-building and upgrade of power training facilities in Nigeria, a government official has said.

Dr. Reuben Okeke, Director-General, National Power Training Institute of Nigeria (NAPTIN) made this known at a graduation of trainees at the institute’s National Graduate Skills Development Programme (NGSDP) on Monday in Abuja.

Okeke said that President Muhammadu Buhari was expected to sign the agreement on behalf of Nigeria, while President of France, Francois Hollande would sign for his country.

“By next month, the President of Federal Republic of Nigeria and that of France will be signing a loan agreement to get NAPTIN completely transformed, up to a tune of 50 million Euros,” he said.

He said that at the current rate of N222.8 to one Euro, the loan would be valued at N11.15 billion, adding that the fund would help NAPTIN’s training programme.

Okeke said that the institute’s programme was answer to manpower shortage in the technical skills in Nigeria’s power section.

According to him, the success of the recent power sector reform will depend on the availability of a qualified workforce to meet the needs of the industry.

He said that there was need for NAPTIN to structure its operations to reflect the needs of the private sector.

He disclosed that the institute was currently working with a leading international consulting outfit for funding support of the Agence Francaise de Development (AFD) to evolve a new strategic plan.

The director-general said that the plan included the training needs of the new private entrants as well as their participation in the delivery process.

He disclosed that with the assistance of AFD, NAPTIN would become a hub for power sector professional development in West Africa.

He said that 154 candidates enrolled for the NGSDP training in the 2014/2015 batch, adding that “today the institute is graduating 142 engineers – 48 distribution engineers, 58 generation and 36 in the transmission cadre.”

The News Agency of Nigeria (NAN) was established by the Federal Government of Nigeria in May 1976 to gather and distribute news on Nigeria and cover events of interest to Nigeria at the international level for the benefit of the Nigerian Media and the Public.

34 Comments

  1. truth

    April 19, 2016 at 3:14 pm

    There is no problem with borrowing if the money wouldnt turn out disappearing without any accountability. This man is getting nigeria into continuous debt that isnt needed if all those money that has been stolen have been returned and used properly to build the country. I am tired of this his traveling, he needs to sit his butt down and try for once to run the country properly, because if care is not taking and the way things are going on the country, Buhari might come back to no nigeria to be president over.

    • Nkechi

      April 19, 2016 at 5:41 pm

      Getting loan from a foreign country is a serious thing. and we must see the fruits. Administer it properly, don’t let the money develop wings. If it is misappropriated, then there was no point getting the loan in the first place before one oyinbo writes something else in telegraph. The pay back rests on all Nigerians this one no be personal loan o. The whole country will be paying it back therefore we all must benefit at large. If foresight says it will not benefit at large, I beg change am to personal loan.

    • shomowale

      April 20, 2016 at 8:28 am

      and why not borrow from allied states…. since when has francophone France been the ally to Anglophone Nigeria……….France and England?! the two don’t mix!

      rest assured with one thing failure to pay back! will mean having ur economic development plans dictated to you against ur favor and to the favor of France capitalistic interest UNTILL the debt is recovered could be 100 years…

      …this is how Europe has managed to stay rich and everyone else poor. they control the market they know what will be on demand 50 years from now…so they work to secure that commodity for dirt cheap this is what loans are for….Gosh we learned this in our very first lesson of Macro economics in high school.

      coz even if they don’t get their money’s worth back they will gain from other more precious commodities from your country at very favorable rate at a very favorable time! simple Economics!

      general rule never borrow from none allied states. they will be ruthless in obtaining their debt and could seriously diverge u from any development discourse ur were on!

    • Lol

      April 19, 2016 at 5:42 pm

      I’m not bias but make sure you know what you’re talking about.

    • Amaka

      April 19, 2016 at 8:30 pm

      Not biased either, but make sure you read comments thoroughly if you intend to contribute. Read between lines also. You can tell that some pun was intended. Little literature helps. I like the comment.

    • shomowale

      April 20, 2016 at 8:17 am

      LOL IF u EVER WANTED TO KNOW WHY THE THIRD WORLD IS THE THIRD WORLD TRY “DEBT.”

  2. Marie Antoinette

    April 19, 2016 at 3:16 pm

    He who goes -a-borrowing, goes – a-sorrowing…

    • Miss

      April 20, 2016 at 2:55 pm

      one of my father’s favorite quotes!!! God rest his soul.

  3. xxxx

    April 19, 2016 at 3:17 pm

    I tot the loan wit the Chinese was refuted. Una no go kill person.

  4. Jagbajantis

    April 19, 2016 at 3:44 pm

    Looks like Mr. President is preparing the groundwork for Nuclear Energy capacity generation in Nigeria. France is known to have the most thriving Nuclear Energy program in the world.

    People are worried about our terrible maintenance culture which could cause catastrophes of Chernobyl proportions, if we decided to go the nuclear route. What about weapons proliferation?

    • Mz Socially Awkward...

      April 19, 2016 at 4:54 pm

      No wonder he went for that Nuclear Energy summit last month… I was wondering which one concern Agbero (Nigeria) with overload (Nuclear Energy)?

      And I don’t want to imagine how that situation could turn out, especially when one considers how we cannot guarantee even the security of ordinary pipelines. No be this same country wey don leave Shell, Chevron and co to destroy communities in the Niger Delta with continued oil pollution over the last 40 years? You say dem wan join nuclear energy to things they have no means of controlling? Only the Blood of Jesus can protect us…

    • shomowale

      April 20, 2016 at 8:56 am

      ARE U THAT HELPLESSLY INSANE??! ARE U STUPID!! “NIGERIA NUCLEAR POWER?!” NIGERIA CANT MANAGE HYDRO POWER U THINK THERE IS A NUCLEAR STATE IN THE WORLD THAT WILL ALLOW A IRRESPONSIBLE NATION LIKE NIGERIA TO ADMINISTER “””””””NUCLEAR”””””” POWER!

      U MIGHT AS WELL VOTE YCEE FOR PRESIDENT U CONFUSED BASTARDS!

      Stop falling for such simple monkey tricks. Question is: who owns Nigeria and why do Fullanis enjoy absolute impunity in that country ?!!!! it’s all inter linked! answer that and U’ll be able to make sence of a lot of things! because right now ur nation is classified an Islamic/sub Arabian state: Enemy to the West by default!

      UNTILL u change that identity you will never see the light of development not if the west can help it! U’ll just continue seeing predatorial economics just like one!

  5. PDP FAN

    April 19, 2016 at 3:56 pm

    The People’s Democratic party, PDP, has alleged that
    despite the hardship and economic meltdown
    currently rocking the nation, Hanan Aisha Buhari, 16-
    year-old daughter of President Muhammadu Buhari,
    reportedly flew first class on British Airways, BA,
    flight 083 to London from Abuja on Tuesday.

    This disclosure was made known via PDP Nigeria
    Twitter account, @PdpNigeria on Tuesday.

    According to the tweet, “Hanan (Aisha) Buhari – 16yr
    old daughter of our president flew first class on BA
    flight 083 to London from Abuja today.
    “Her seat number was 2k. She is a Secondary School
    Student.
    “So much about the people’s president. #
    BuhariAndCorruption.”

    • chi-e-z

      April 19, 2016 at 5:14 pm

      she’s the president’s daughter I wouldn’t even expect her on a public plane. that’s like complaining sasha returned back to her school in

    • chi-e-z

      April 19, 2016 at 5:18 pm

      *sasha travelled in first class somewhere not even Air Force one or private helicopter or something…….I don’t trust y’all naija politicals oh. you be killin people all willy nilly if anywhere needs secret service protection and custom bullet/ poison proof everything for president’s family it’s Nigeria

    • Rebel

      April 19, 2016 at 5:33 pm

      When Patience Jonathan was using presidential jet up and ann why una no talk?

      Okay, try to keep up with the reasoning, I know it’s hard for you, but try.
      1. Buhari is the president of Nigeria.
      2. Buhari receives salary as the president of Nigeria.
      3. If Buhari decides to use his whole salary to buy zobo and rub his body, he is empowered by the constitution to do so.
      4. If he uses part of his salary/savings to buy 1st class ticket for his daughter on British Airways, he is also empowered by the constitution to do so.
      5. Since you’re a PDP fan that also likes to monitor under-age people maybe you can explain why Governor Wike’s children left PH in 1st class as well?

      Seriously though I want PDP to be a great opposition but you guys just can’t act mature. You guys have so much opportunity but you prefer gutter fighting and baseless arguments. You will soon become obsolete if Buhari’s plans start to be felt before you guys organize yourselves.

      Goodluck

    • AaaFeeCee

      April 19, 2016 at 10:59 pm

      Where is Sahara reporters? Remember that buhari is so poor he had to borrow bank loan with double digit interest rate to buy his nomination form.

    • Lol

      April 19, 2016 at 5:37 pm

      And so were they poor before. What about the oles on Bellanaija and their politics funded weddings please.

    • AaaFeeCee

      April 19, 2016 at 11:02 pm

      But the dullard wants the ministers to fly economy and business class…well I’m not surprise,heard they have privatized corruption

    • Tola

      April 20, 2016 at 1:51 am

      This government sure has it’s own challenges but criticizing a president for having his daughter get on first class flight is ludicrous even professionals are able to do that. Secondly, will she be safe in economy, before some immature people kidnap a girl who has no control over her parents’ actions. Please leave the 16yr old out of this. Nothing special about Mr. President’s daughter getting on first class flight Haba. Buhari can afford it. His salary is not meagre. Let’s speak the truth and not hate. If Mr President takes a wrong step, let’s speak out but if he did not, let’s not say he did. That is not good

    • shomowale

      April 20, 2016 at 8:57 am

      SHE IS THE PRESIDENT DAUGHTER HAVE SOME DIGNITY AND COMMON SENCE!

  6. freemind

    April 19, 2016 at 4:57 pm

    O ya ! them celebs and bloggers who used their platforms to vote this man in, come out in mass and use that same platform to stop this madness. who borrow borrow don epp?

    • AaaFeeCee

      April 19, 2016 at 11:03 pm

      Buhari is a fraud. He is the greatest corrupt man ever known to mankind, a desperate manipulator.

  7. chi-e-z

    April 19, 2016 at 5:07 pm

    brah we already basically became a territory of china with that last deal now we gon be france’s produce b*t . We should not have anything Nuclear in Nigeria I mean nothing Nuclear our maintenance is 0% like we couldn’t even keep simple windmills maintained and we gon be able to maintain nuclear plants. brah… I can’t beal I just knew it was a mistake I knew it… satelites, currency adaptations, increased deficits. I know we gat to acquire money to get everything we need fixed but oh menh … I can’t watch this. Always know every country is acting in their own interest oh no one is doing all this borrow borrow w/o a satisfactory usually exploitative motive.

    • chi-e-z

      April 19, 2016 at 5:10 pm

      ok let me be positive. Buhari will fix nigeria with strong ethics and we will pay back all our lenders in surplus….menh I have to be this only country I have citizenship 2 ooh…I need y’all 2 work this out.

  8. Lol

    April 19, 2016 at 5:36 pm

    Here comes the complainers. Nigerians always say america this america that. Well america runs on borrowed billions from China. Google how much america owes and your mouth will open. It moves by the second. and the rest of the world. America is doing this and that the things you compare Nigeria with it’s not free money. Healthcare, schooling.

    I’m all for borrowing. There is nothing in that country. We have the funds to pay it back.
    My own is that it is used correctly.

    • Tobi

      April 19, 2016 at 8:41 pm

      Borrowing is but a little issue. Dispensation of funds wherein citizens thank the government for taking the initiative to borrow is the issue. America lives on borrowed funds but this is the same country where I see children of immigrants become notable professors. I have seen people rise from absolutely nothing to something in America. A nation, though with it’s own challenges but with loads of opportunities. My aunty who lives in Ametica has been talking about how bad it is to grow old in America for the past 3yrs. She still hasn’t left the country. She told me she built a house in one of the GRA’s, she still hasn’t left. My simple point is this; Don’t let the money develop wings. Money announces itself. If you used the money for the right purposes, we will see it.

    • Lol

      April 20, 2016 at 3:07 am

      I wish people will realise how hard and expensive it is here to get a good college education. Average school here costs 17-25,000. But its okay sha.

  9. Suga

    April 19, 2016 at 5:42 pm

    If only this administration will put such energy to harnessing possible ways to local fund generation we would have seen the benefits already . they are very slow to fulfilling all their campaign promises but so very fast to borrow from different countries Thank God my future depends on God ALONE.

  10. gbaskelebo

    April 19, 2016 at 6:28 pm

    Dude really!!! This is becoming too much, yes we have a serious problem in the power sector, but lets first see the result of one (China), before getting to France for another! The number one man in Aso rock seriously need advisers irrespective of politics at play!

  11. ebuzko

    April 19, 2016 at 7:19 pm

    nawa o diz PDP no go kill person President daughter fly first class u complain.

  12. Tosin

    April 19, 2016 at 9:23 pm

    smells imaginary to me
    the loan, the amount, the purpose, the people…

  13. shomowale

    April 20, 2016 at 8:37 am

    …….I mean this is a unscrupulous amount of borrowing guys….DESSERT SAILING ECONOMICS…..

    Last time AFRICA did so much borrowing was from the ARABS in the Middle Ages. Who literary collapsed dissolved our economies before installing slavery they broke us! Really, they Did!

    As a result our economies became weak, powerless and infinitesimally dependent on debt like a Heroin addict.

    We couldn’t make any decisions for ourselves. Our economies were as good as worthless and non existent, we just kept getting poor and we never knew why! why we had Goverments that were as Good as Non-Goverment.

    we lost all and total faith in the moral standpoint of the state and their will to serve the common men. And AFRIKA, Africa as We know it moved away from a central Goverment planned Economy and fell from honor to what u see today! A state of Mistrust! u wanna know why monkey hates monkey?’ why we would deal with anyone before ourselves?!

    we became disenfranchised with state, dissolved our Governments and became small LITLE governmentless clans – MONKIES essentially where once we could have called upon the entire power of AFRICA, now we were just a band of confused MuMu heads.

    Soon after Arabians installed slave economics, they literary broke us down bit by bit and our total capacity to rule “ourselves”. This is why SUBSAHARAN Africa is so poor while Dessert Sahara Africa is so rich. AFRICANS don’t hate ARABS For slavery but we Hate each other!

    I know all real Black people believe this! AFRIKA was the original kingdom of God fearing men an Empire built on solid grounds of faith…..of Non rebellious men completely militarily devoted to the state! we never questioned our “Huq” “Fairness – Order” “moral stand point” we were the subject of envy for all monarchies and the largest of the time ….

  14. Dtruth

    April 20, 2016 at 1:40 pm

    Please don’t we have qualified economists in Nigeria no more? I’d love to here from economists to understand the dynamics and effects of this loan based on every aspect including default/implementation etc….But it’s so unfortunate all we now have is a bunch of fashion and entertainment/marriage critcs and gossips….The future is so dark for 9ja oooo…..

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