Connect with us
nairametrics

Business News

NNPC commences construction of N21 billion medical facility in Kaduna

The facility is one of the 12 hospitals which the corporation intends to construct across the six geo-political zones in the country.

Published

on

Crude oil market remains unpredictable- NNPC Boss

In line with the earlier announced decision to diversify into the medical sector, Nigerian National Petroleum Corporation (NNPC) has commenced the construction of a N21 billion medical facility in Katsina State.

NAN reports that the construction of the 200-bed Emergency and Infectious Disease Hospital was flagged off on Saturday in Kaita, Katsina state.

The facility is one of the 12 hospitals which the corporation intends to construct across the six geo-political zones in the country.

According to the Group Managing Director (GMD), Mallam Mele Kyari, who laid the foundation for the multi billion Naira project on Saturday in Kaita, the project is billed to be completed in 18 months.

READ ALSO: Former NNPC GMD, Dr. Maikanti Kacalla Baru, dies

GTBank 728 x 90

“The initiative is meant to strengthen the country’s national healthcare delivery facilities in combating the ravaging Covid-19 pandemic.

“Katsina State is among the 12 states selected for this humanitarian project for the fight against COVID-19 and other infectious diseases for generation yet unborn.

“We are doing this kind of project in 12 states in the six geopolitical zones of the country and these projects were practically funded by the Federal Government of Nigeria through the NNPC,” he said.

Coronation ads

Kyari also added that the hospital, estimated to cost N21 billion, was being executed in collaboration with Total and other oil and Gas companies operating in the country, and meant to provide services to patients in the North West zone.

The budget for the hospital covers the construction of the facility, provision of medical facilities, logistics and support to patients.

According to the GMD, NNPC had also donated one Toyota ambulance, 10,000 pieces of face masks and full set of ventilator kits to the Katsina State Government to support its ongoing war against COVID-19.

 

Jaiz bank ads

Ruth Okwumbu has a MSc. and BSc. in Mass Communication from the University of Nigeria, Nsukka, and Delta state university respectively. Prior to her role as analyst at Nairametrics, she had a progressive six year writing career. As a Business Analyst with Narametrics, she focuses on profiles of top business executives, founders, startups and the drama surrounding their successes and challenges. You may contact her via [email protected]

2 Comments

2 Comments

  1. Segun Lawoyin, M.D.

    June 13, 2020 at 9:32 pm

    This is fearfully distressing. Is Nigeria really this far of a FAILED STATE as represented by Harvard University that NNPC which has not been able to successfully run one oil refinery independently in her entire life is now the National Organ System that is going to build a Health Care System for Nigeria? This in a Nation that does not now have a semblance of a credible Health Care Delivery System as attested to by the fact that the Nation’s Head of State gets his health care needs serviced in England. Where does the Managing Director of NNPC get the idea that he is in a position to spend NNPC funds in this manner? And where is the outcry from the Nation’s Medical Society, the Nursing Society, the Hospital Administrators Society, the “knowledgeable” public. Is NIGERIA DEAD ALREADY?

    • Segun Lawoyin

      June 13, 2020 at 9:56 pm

      The Guardian Business Week News 12 June 2020:”NIGERIA HAS HIGHEST PERSONNEL COST IN GLOBAL PETROLEUM INDUSTRY”. And NNPC the Government Unit so described is now embarking on building Hospital Centers for the Nation? A Nation that already has wasted the life-time productivity of every one of her generations since 1960 cannot continue this way. It is dead end into perdition.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Tech News

MTN, Vodacom launched 5G in sub-Saharan Africa in 2020 – GSMA Report

Vodacom and MTN launched their first major 5G networks in Sub-Saharan Africa in 2020, according to the GSMA 2020 report.

Published

on

The Global System for Mobile Communications (GSMA) 2020 report revealed that Vodacom and MTN launched their first major 5G networks in Sub-Saharan Africa in 2020.

The telecoms operators offered 5G mobile and fixed wireless access (FWA) services in several locations across South Africa – this appears to be a welcome development, as the South African government had already assigned temporary spectrum in the 3.5 GHz range in the wake of the Covid-19 pandemic.

Obviously, the proximate opportunity to be harnessed for the 5G in South Africa is to use FWA to bridge the gap in fixed broadband connectivity for homes and businesses.

According to the report, there has been 5G trial runs in almost all the countries in Sub-Saharan Africa, including Gabon, Kenya, Nigeria and Uganda but the possibility of mass deployment of the 5G network is still not guaranteed, as there are significant levels of unused 4G capacity. Also, the 4G adoption rate is still relatively low, creating opportunities for the operators to increase their stakes in 4G.

As a boost to mop up the unused 4G capacity, the partnership between Safaricom and Google to finance the acquisition of 4G smartphones, provides the desired momentum as low-income consumers pay for 4G devices in convenient and flexible daily installments.

GTBank 728 x 90

According to the report, it is expected that over the next five years, the number of smartphone connections in Sub-Saharan Africa will almost double to reach 678 million by the end of 2025 — an adoption rate of 65%.

What you should know

  • It is expected that by 2025, there will be a little below 30 million mobile 5G connections in Sub-Saharan Africa, equivalent to almost 3% of total mobile connections.
  • The mobile market in the region will reach several important milestones over the next five years: half a billion mobile subscribers in 2021, 1 billion mobile connections in 2024, and 50% subscriber penetration by 2025.
  • The achievement of these critical milestones would be predicated on the operators’ commitment in providing reliable infrastructural networks across the region.
  • Between 2019 and 2025, the operators in the region would have expended/invested about the sum of $52billion in infrastructure rollouts.
  • The GSMA represents the interests of mobile operators worldwide, uniting more than 750 operators with almost 400 companies in the broader mobile ecosystem, including handset and device makers, software companies, equipment providers and internet companies, as well as organizations in adjacent industry sectors.

Coronation ads
Continue Reading

Financial Services

Stamp Duty on Nigerian Stock market transactions pegged at 0.08% from December 7

The NSE has given clarifications on the public notice released by the FIRS, itemizing contract notes at an ad valorem rate of 0.08%.

Published

on

NSE prepares to launch West Africa’s first Exchange-traded derivatives

The Nigerian Stock Exchange has given clarifications on the public notice released by the Federal Inland Revenue Service (FIRS) in July, itemizing contract notes at an ad valorem rate of 0.08% up from 0.075%, effective 7th December 2020.

The circular released by the Nigerian Stock Exchange reads:

“In reference to the Public Notice in the Business Day Newspaper of Monday, 20 July 2020, captioned ‘Clarification of Administration of Stamp Duties in Nigeria’ issued by the Federal Inland Revenue Service (FIRS) (A copy is attached as Appendix A for ease of reference).

The Public Notice provided, amongst other things, information on dutiable instruments and the applicable flat or ad valorem rates, with Contract Notes 1 itemized at an ad valorem rate of 0.08%. As you know, this is at variance with the current rate of 0.075% administered in the Nigerian Capital Market.”

To that extent, Dealing Members of the Nigerian Stock Exchange are to note the following:

GTBank 728 x 90
  • Effective December 7, 2020, the Central Securities Clearing System Plc. (CSCS) will adjust its system to implement the automated deduction of the Stamp Duty rate of 0.08%.
  • Dealing Members are required to immediately engage their software vendors for the required adjustments to their technology applications, to reflect the 0.08% rate ahead of the effective date of 7 December 2020.
  • Dealing Members are required to communicate the changes above to their clients immediately, ahead of the effective date.

What you should know

Nairametrics revealed that the FIRS listed at least 50 types of transactions that are eligible for stamp duty deductions.

Some of the listed chargeable transactions include bank deposit or transfer, loan agreement, Memorandum of Understanding (MoU), sales agreement, will, tenancy/lease agreement, and all receipts.

The FIRS noted that the recently inaugurated FIRS Adhesive Stamp is not the same as the postage stamp administered by NIPOST for the purposes of delivery of items and documents.

Coronation ads

The Stamp Duties Act, 19391 defines Contact Notes as “the note sent by a broker or agent to his principal, or by any person who, by way of business, deals, or holds himself out as dealing, as a principal in any stock or marketable securities, advising the principal, or the vendor or purchaser, as the case may be, of the sale or purchase of any stock or marketable security, but does not include a note sent by a broker or agent to his principal where the principal is himself acting as broker or agent for a principal.”

See the circular below:

Download (PDF, 566KB)

Continue Reading

Coronavirus

Covid-19: UK to approve Pfizer, BioTNech vaccine, to start immunization December 7

The UK government is set to approve the COVID-19 vaccine developed by BioNTech SE and Pfizer Inc next week.

Published

on

Covid-19: AstraZeneca vaccine gets huge boost, produces immune response in elderly, Vaccine, COVID-19: Russia to roll out vaccine in September ahead of the West 

The global reception of the Covid-19 vaccine developed by Pfizer Inc in collaboration with BioNTech following the positive outcome of its phase 3 trial, seems to have intensified as it is set for approval by the UK medical regulator.

According to Reuters, a report from Financial Times on Saturday suggests that deliveries would commence within hours of the authorization with the first immunizations using the BioNTech and Pfizer vaccine possibly taking place from December 7.

The UK Prime Minister, Boris Johnson, had earlier in the day, named Nadhim Zahawi, who is the current junior business minister, as the minister responsible for the deployment of COVID-19 vaccines.

The UK government has placed an order for 40 million doses of the Pfizer and BioNTech vaccine, which has been found to be 95% effective in the final analysis of the phase 3 trials in preventing the spread of a virus that has killed over 1.4 million people across the world with its devastating impact on the global economy.

The UK government had on November 20, formally asked its medical regulator, the Medicines and Healthcare Products Regulatory Agency (MHRA), to conduct a study of the Pfizer-BioNTech COVID-19 vaccine with a view to determining its suitability, the first step in making it available outside the United State

GTBank 728 x 90

The government which had secured 100 million doses of the Covid-19 vaccine developed by AstraZeneca and University of Oxford had also asked the regulator on Friday to assess the vaccine for a possible rollout before Christmas.

What you should know: The US drugmaker, Pfizer Inc, on November 18, 2020, announced that a final analysis of clinical-trial data of its experimental Covid-19 vaccine, which it is developing in collaboration with BioTNech, showed it was 95% effective, thereby paving the way for the company to apply for the first U.S. regulatory authorization for a coronavirus shot.

Pfizer said they had no serious safety concerns in a trial that involves almost 44,000 participants as their vaccine protected people of all ages and ethnicities.

Coronation ads

Continue Reading