Author: The Nation

The annual GTCO Food & Drink Festival is back again for its 6th edition, and food lovers across Africa and the world are in for a feast like never before.

The event is slated to hold from Saturday April 29th till Monday May 1st 2023, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos, providing a 3-day weekend of food and endless celebration. 

The GTCO Food & Drink Festival brings together the greatest minds on the global culinary stage, the most industrious Nigerian small food business owners, a world class, state-of-the-art children’s play area, merging them all to give attendees the most memorable food and drink event. 

Commenting on the 2023 GTCO Food and Drink Festival, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Segun Agbaje, said; “Food and drink are intrinsically social things, and best enjoyed when shared. We understand the value of bringing together businesses and consumers who are passionate about food and have continued to inspire new ways to experience life through food and drink.

“The continuing success of our free-business platforms reflect our unchanging commitment to promoting enterprise and echoes our brand promise of creating great experiences.”

Constantly innovating the space and on a quest to continue creating great experiences for all stakeholders, GTCO Food & Drink will be expanding its capacity by creating more opportunities for more businesses and increasing its highly coveted vendor stalls from 142 to 204, giving even more innovative and assiduous business owners the chance to not only showcase their businesses to the over 250,000 foodies in attendance, but also engage with their customer base and learn from a confluence of other great-minded food entrepreneurs.

The event will also feature three premier DJs in Africa, setting the scene for a weekend of celebration, food, drink, and togetherness. 

Guaranty Trust Holding Company Plc is a leading financial services company providing banking and non-banking services including payments, wealth management, and pension fund management, with a presence across eleven countries spanning West and East Africa as well as the United Kingdom.

The Group operates a diversified, Proudly African franchise and is renowned for its innovative approach to customer service and stakeholder engagement which has endeared the brand to millions of people across Africa and beyond.

Over the years, many customers have benefited from its unique loan products including the Food Industry Credit and Fashion Industry Credit designed specifically for businesses in the food and fashion industry.

How far can the planned protest march and nationwide strike action by the Nigeria Labour Congress (NLC) resolve the lingering cash crunch being experienced by Nigerians? That is the question of the hour as some analysts react to the hotly debated issue which many argue has pauperised Nigerians, reports Ibrahim Apekhade Yusuf

Barring any last minute change of mind, the national leadership of the Nigeria Labour Congress (NLC) has threatened to embark on a strike if the cash crunch, fuel scarcity and electricity tariff increase are not addressed.

Rising from a meeting, the apex labour union said it was determined to address the lingering crisis being precipitated by the actions and inactions of the Central Bank of Nigeria (CBN).

In a communiqué by NLC at the end of its Central Working Committee (CWC) meeting in Abuja, the congress said the challenges were among the issues that raised the most concerns.

In the communiqué, the National President of the congress, Comrade Joe Ajaero and General Secretary, Emma Ugboaja, charged the Federal Government to take action to cushion the hardship of the cash

In the communiqué, the National President of the congress, Comrade Joe Ajaero and General Secretary, Emma Ugboaja, charged the Federal Government to take action to cushion the hardship of the cash crunch, fuel scarcity and high cost of electricity tariff on Nigerians.

Expectedly, the NLC had resolved to embark on a nationwide strike Wednesday next week over the lingering scarcity of cash across the country. The Congress also planned to storm the Central Bank of Nigeria to protest the devastating development.

In the communiqué, the National President of the congress, Comrade Joe Ajaero and General Secretary, Emma Ugboaja, charged the Federal Government to take action to cushion the hardship of the cash

“CWC said poor implementation of the Naira redesign policy has caused considerable pain and hardship to the people.

“Similarly, the CWC-in-session, after reviewing the fuel supply situation and the attendant arbitrary costs at filling stations, expressed dismay at the nonchalance of NNPCl and government. It, accordingly, resolved to ask the NNPC/FGN to normalise the fuel supply situation.

“The CWC expressed its outrage at the surreptitious increase in electricity tariff without notice and without improvement in quality of service. CWC resolved that, henceforth, any surreptitious increase would be met with appropriate response,” the communiqué stated.

The NLC berated the Abia and Imo state governments on the payment of workers’ salaries/allowances and pension.

“There were national protest actions in Abia and Imo States over non-payment of salaries/allowances and pensions for several months, non-remittance of check-off dues and other anti-union activities. Reviewing the performance of the actions, it was noted that the Abia State government has signed an agreement with Congress pending full implementation of the agreement.

“In Imo, however, the action is ongoing as more unions are poised to fold in as the issues are multi-sectoral and include the following: refusal to implement previous agreements reached between the state government and trade unions since 2021; 20 months’ salary arrears owed to some workers stigmatised as ghost workers and declaration of 11,000 workers in the state as ghost workers and diversion of their salaries even when they were regularly at work.

“Others are vandalism of Congress office and equipment by hoodlums; implementation of discriminatory pay and institutionalisation of apartheid in monthly payments; refusal to pay eight years arrears of gratuities owed retirees; non-appropriate implementation of the national minimum wage law; harassment, intimidation and  brutalisation of trade union leaders in the state; intimidation of workers in the state and continuous disregard for Collective Bargaining and Social Dialogue,” the labour union said.

Ajaero, after his election, pledged that NLC would not pay lip service to electricity tariff increase and fuel subsidy removal.

NECA weighs in on NLC

Apparently fearing the unpalatable outcomes of the planned strike, the Nigeria Employers Consultative Association (NECA) has advised the organised labour to shelve its planned strike against the prevailing naira scarcity to avoid plunging the country’s economy into further chaos.

The Director General of NECA, Mr. Adewale-Smatt Oyerinde, who gave the advice at a press conference, said any industrial action at the moment would be counter-productive.

The national leadership of NLC had resolved to embark on a nationwide strike Wednesday next week over the lingering scarcity of cash across the country.

The Congress also planned to storm the CBN offices nationwide to protest the devastating development.

However, it had been reported that some officials of the apex bank, including its deputy governors, had met with the leadership of the congress in Abuja, to resolve the issue.

While slamming the apex bank on its poorly implemented naira redesign policy and its implications for businesses and others, Oyerinde cautioned any strike this time won’t be helpful to the country.

Oyerinde said: “While we had expressed our deep concern as regards the mismanaged and dreadful implementation of the naira redesign policy, and in fact, some other policies of the Central Bank of Nigeria, it is our strong believe that the planned strike by the NLC could further drag the economy into a deeper hole, leading to rapid business closures, job losses and other socio-economic challenges.

“While we affirm emphatically our displeasure with the government’s loud silence and seeming inactivity in resolving the self-inflicted quagmire, the planned strike, at this time, could be counter-productive.

“We, hereby, urge the maximum use of the instrumentality of social dialogue in resolving all issues associated with industrial and social-economic disputes.

“Actions by the government and indeed social partners that could compromise the fragile economic state of the nation should be avoided. We urge the CBN and indeed, the federal government to immediately address the genuine concern of Nigerians in view of the ongoing socio-economic difficulties.”

Like NECA, the Director-General of the Michael Imoudu National Institute of Labour Studies (MINILS), Ilorin, Kwara State, Mr Issa Aremu, has advised the CBN to engage the NLC in a social dialogue to avert the planned strike over the continued cash scarcity.

Aremu who made the call last Thursday in Ilorin on the sidelines of the Interfaith Prayer organised to mark the 40th anniversary of the institute.

The directive, according to the trade unionist, became imperative following the expiration of a one-week ultimatum given to the apex bank to make cash available for Nigerians.

Speaking on the development, the MINILS head said it was unprecedented that the labour union is threatening to picket the CBN, asking the apex bank to use every means at its disposal to ensure monetary stability in the country.

The erstwhile labour leader further noted that depositors had been subjected to a lot of hardship in recent times over the CBN financial policy.

Mr Aremu said that CBN must be more transparent and engaging and look at the overall policy’s impact on the growth and development of the nation’s economy.

He said that this would ensure the confidence of Nigerians in the banking system.

Mr Aremu explained that such a cashless policy should be gradually introduced after the appropriate infrastructure had been put in place.

“It also requires mass sensitisation and awareness, and there is a limited time for implementation of the policy for Nigerians,” he said.

However, the institute’s head lauded the CBN’s Anchor Borrowers Programme, saying it “provides loans (in kind and cash) to smallholder farmers, which have boosted agricultural production, especially rice”.

He, therefore, insisted that picketing of the apex bank by labour leaders was avoidable and preventable, advising CBN to address all concerns by organised labour.

On the 40th anniversary of the institute, Mr Aremu said, “This gathering is all about appreciation to Almighty God in the Holy Month of Ramadan, in which Catholic lent, also runs. Both Christianity and Islam stress gratitude. Gratitude pleases Allah, while ingratitude displeases Him.”

“Glory to Almighty for sparing our lives to continue the institutional building that started with President Shehu Shagari’s formal inauguration in 1983,” he said.

Dr. Okwara Udensi , the Chairman of the Manufacturers Association of Nigeria (MAN) Edo\Delta chapter, has also expressed worry over the planned strike by the labour union, saying that it has the potential to further wreck the economy.

According to him, he would rather the warring parties seek the option of a roundtable in order to arrive at an amicable resolution of the impasse.

The fear of NLC… beginning of wisdom

Not wanting to take any chances at all, the CBN directed all commercial banks to open for operation on Saturdays and Sundays, as part of a coordinated effort to ease circulation of banknotes of various denominations.

The apex bank also confirmed the evacuation of banknotes from its vaults to commercial banks across the country.

This latest development was disclosed in a statement signed by CBN Acting Director, Corporate Communications Department, Isa AbdulMumin, in Abuja, on Friday afternoon.

The statement noted that a substantial amount of money, in various denominations, had been received by commercial banks, for onward circulation to their respective customers, even as it prevailed on banks, to conduct physical operations in banking halls through the weekends.

Excerpts of the statement read: “The CBN has directed all banks to load their Automated Teller Machines, as well as conduct physical operations in the banking halls through the weekends.

“Branches of commercial banks will operate on Saturdays and Sundays to attend to customers’ cash needs.

“The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, would personally lead teams to monitor the level of compliance by the banks in various locations across the country,” it stressed.

The bank, therefore, urged Nigerians to be patient, as the current situation would ease soon, with the injection of more banknotes into circulation.

The Central Bank of Nigeria on Thursday began the disbursement of old naira notes to Deposit Money Banks as government authorities stepped up efforts to end the biting currency scarcity that has inflicted pain on millions of bank customers nationwide.

The central bank had directed DMBs to pick old N1,000, N500 and N200 notes at its offices across the country for onward disbursements to customers, following a meeting between the CBN Governor, Godwin Emefiele, and bank chief executive officers on Wednesday.

Findings by our correspondents on Thursday revealed that commercial banks got old naira notes from CBN offices across the country.

Multiple bank sources including CEOs and top executives confirmed to The PUNCH that the apex bank released old notes to banks.

“I can confirm to you that we received old notes from the CBN today, we also received a memo from the central bank to this effect,” the CEO of a commercial bank told The PUNCH on condition of anonymity.

Also, a general manager at a tier-2 bank told one of our correspondents that the lender got some old notes from the central bank on Thursday.

“The CBN has started giving us old notes. However, it will take some time for the currency to circulate,” a top official of a mid-size bank confirmed to one of our correspondents on Thursday.

However, top bank officials said it would take about two weeks for the situation to normalize, adding that bank queues might not disappear until later next week.

They also hope to pay N500,000 per customer by next week.

“The situation will not normalise immediately. The impact will begin to be felt on Friday. Overall, things should normalise between one and two weeks,” a top bank executive told The PUNCH because he was not authorised to speak on the matter.

The National President, Association of Senior Staff of Banks, Insurance and Financial Institutions, Mr Olusoji Oluwole, said, “Until recently, the volume of the old currency released to banks has been minimal. This coupled with panic withdrawal by customers, and the restriction of daily withdrawal limits by the CBN has caused continued rationing. However, with the announcement yesterday by the CBN to pump more cash into the system, we hope the pressure will ease by next week if the CBN keeps to this promise.”

But the CBN has reportedly concluded plans to dispatch a team of officials to monitor compliance on the part of banks.

It was gathered that the apex bank officials would monitor banks in Lagos, Abuja and other cities with a view to enforcing proper disbursement of the old notes collected from the CBN.

Top officials of the bank were said to have been directed to ensure the speedy recirculation  of the old naira notes, hence the monitoring exercise.

Also speaking with a cross section of some banks’ customers at Lagos metropolis and environs at the weekend they confirmed to our correspondent that majority of the deposit money banks were now paying cash, compared to experience of the past few weeks when there was acute cash scarcity both in the banking halls and most of the ATM galleries.

A food vendor, who simply gave her name as Lami, said when she visited the banks on Friday she got more than enough with assurances that she could come on Saturday and Sunday if she was cash strapped.

Investigation by The Nation revealed that the apex bank has since stepped up efforts to end the biting currency scarcity that has inflicted pain on millions of bank customers nationwide, after a Supreme Court ruling, and a proposed protest by NLC, scheduled for this week.

As part of efforts to ensure gender mainstreaming, women are to play leading role across the management cadre at all subsidiaries of the British American Tobacco company in West and Central Africa, The Nation has learnt.

The development, investigation revealed is in line with the policy thrust of the company.

Shedding light on this new policy regime, the firm said this is in keeping with this year’s International Women’s Day (IWD) themed ‘Embrace Equity’ which is a call to action for accelerating women’s opportunities and promoting equity to forge harmony, unity, and help drive success for all.

British American Tobacco in West and Central Africa recognises that our employees are all unique and have different needs, experiences, and opportunities, and through equity everyone has access to the same opportunities.

Embracing equity provides an excellent opportunity to celebrate British American Tobacco’s (BAT)’s diverse and inclusive culture which shows the company’s commitment to gender diversity.

The company is proud of its diversity and o inclusion agenda, remarkably, we were globally awarded the Brandon Hall excellence award for best diversity, equity, and inclusion strategy, recognised in the 2023 Bloomberg Gender Equality Index inclusion for demonstrating commitment to addressing gender diversity and transparent reporting.

The BAT of tomorrow will be a high growth, consumer goods company, with sustainability and diversity at our core. To further help accelerate the pace of progress, we have set bold ambitions to increase the proportion of women in senior leadership teams to 40% as well as increase the proportion of women in management roles to 45%.

Besides, we hope to achieve at least a spread of 50% nationalities within all key leadership teams

This accelerated focus on diversity is crucial in creating a dynamic and inspiring workplace that will propel BAT into the future and create A Better Tomorrow™ for all our stakeholders. In building A Better Tomorrow™ we understand and are committed to fostering a gender equal-equity workforce which is evident in the independent accreditation from Fair Pay Workplace (FPW) for equitable pay practices.

Identifying the unique skills set and capabilities, perspectives, ideas, and background of our employees, empowers them and creates an inclusive culture that unites us as ONE and makes BAT a Great place to work.

 “Equity is everyone’s responsibility” remarked Odiri-Erewa-Meggison, the External Affairs Director, West and Central Africa “and at BAT we create an inclusive workplace that acknowledges the unique contributions of women to the organisation.”

Sergio Berlanga, the Human Resource Director, also remarked “As we aim to transform our business, we need to challenge the status quo and drive innovation. This means becoming better at attracting and retaining an increasingly diverse set of capabilities, welcoming a more inclusive working environment, and striving for even greater gender balance.”

This year, employees of BAT in West and Central Africa marked the day with the theme #Embrace Equity and a call to action for accelerating women’s equality in the workplace and society at large. Hosting a series of activities and open forum conversations, calling for change, and leading the way in bringing about change for an equitable environment where every can thrive. Equality is the goal, equity is the means to get there, through the process of equity, we can reach equality

Jumia Food Nigeria, the leading online food delivery platform, is excited to announce the launch of its Online Food Festival campaign.

The two-week long festival will feature exclusive deals from top-rated restaurants such as Cold Stone Creamery, Pinkberry, Samantha Bistro & co, Yin Yang Express, Tantalizers, Bukka Hut, Dodo Pizza, Domino Pizza, Cilantro, and more. Consumers will be able to enjoy their favourite meals from these restaurants at discounted prices and with the added convenience of fast delivery.

“We are excited to bring this Online Food Festival to our consumers in Nigeria. At Jumia Food, we are always looking for ways to enhance the consumer experience and provide exceptional value. The Online Food Festival is a testament to that, and we are confident that our consumers will enjoy the various discounts and deals on offer,” said Oluwafemi Ajulo, Head of Commercial, On-Demand Services, Jumia Nigeria.

Though expanding small-scale irrigation can be profitable and benefit between 113 and 369 million rural people, access to finance and credit is a major barrier to access irrigation and water harvesting equipment, in addition to land tenure issues, experts have said.

Speaking at the UN 2023 Water Conference, the International Fund for Agricultural Development (IFAD) called for accelerated investments to help small-scale farmers in developing countries access and manage increasingly scarce water resources in the face of a changing climate and more extreme weather events.

“There is no food security without water security. Water is indispensable to produce food but small-scale farmers increasingly struggle to access the water they need to grow their crops and feed their animals, leading to human suffering, migration and conflict,” said Jyotsna Puri, IFAD Associate Vice-President, Strategy and Knowledge Department.

“Solutions exist, but investments are needed to help millions of small-scale farmers access them.”

About 3.2 billion people overall live in agricultural areas with high to very high water shortages or scarcity of which 1.2 billion people – roughly one-sixth of the world’s population – live in severely water constrained agricultural areas.

While small-scale farmers produce one third of the world’s food and up to 70 percent of the food produced in developing countries, they increasingly face water challenges due to climate change. Since 2000, the number and duration of droughts has increased by 29 percent. Population growth causes an increased demand for water, which is also a key driver of water scarcity.

“The only solution is to make the best use of every single drop. Small water infrastructure, better soil and water management, and natural solutions such as agro-forestry can go a long way in ensuring small-scale farmers have the water they need,” added Puri.

“We need to increase investments from the public and private sectors to accelerate the uptake of proven techniques, and local solutions.”

Investment needs are immense. For example, in East Asia and the Pacific, US$6.8 billion are needed each year until 2030 for irrigation expansion and efficiency and water management improvements to be at full efficiency.

According to the OECD, despite a strong economic case for water investments, financing flows are not commensurate with investments needs.

“Given the amount of financial need and the intensification of climate change, we must further develop innovative financial instruments to unlock billions from the private sector, sooner rather than later, and channel funds, infrastructure and know-how to small-scale farmers,” added Puri.

Blended finance, which strategically uses development finance to mobilise private investments, sustainable or green bonds, and public-private partnerships, are examples of financial instruments.

IFAD is a major investor in small-scale farmers’ water solutions. IFAD’s ongoing investments in water projects and activities amount to US$2.85 billion. IFAD-supported projects invest in water tanks, rainwater harvesting systems, agroforestry, soil management techniques that maintain soil humidity, small irrigation systems and drip irrigation, and also natural solutions such as agro-forestry and ecosystems restoration. 

The Minister of State, Industry Trade and Investment, Amb. Mariam Katagum has called on Nigerians and other African countries to adopt pragmatic policies in order to overcome trade obstacles so as to fully reap the benefits of global market.

She mentioned factors that often hamper competitiveness and limit access in both regional and global market as anti-competitive business practices and regulations that are unfavourable to business growth and development as well as the challenges associated with inadequate ports, roads and other infrastructure.

The minister disclosed this at the validation workshop for the report on supporting market access for trade in service under the African Continental Free Trade Area AFCFTA for Nigeria in Abuja, stating that there is a general accord that trade is an engine of economic growth.

She quoted the World Bank as saying that since 1990 economic growth underpinned by better trade policies and practices has lifted more than one billion people out of poverty, assuring that all effort such as this one which is aimed at improving market access and enhancing the participation of Nigerian companies in international trade must be encouraged and supported.

The Director General, Chief Trade Negotiator, Amb. Yonov Fred Agah said there is need to understand the sector you are dealing with before going to the negotiating table by looking at the prospect in the partner country. These should be one of the activities taken before negotiation.

The discussion covers only five service sector though there are many more out there which includes education services, environmental services, health services as all these will make us more prepared with experience on how to analyse some of these sectors.

By Afolabi Idowu

The Advertising Regulatory Council of Nigeria (ARCON) has set machinery in motion to host the first annual Advertising Industry Colloquium.

The one-day event will hold on 30th March 2023 at the Lagos Sheraton Hotel, Ikeja Lagos.

This was made known at a media briefing held in Lagos recently, the Director-General of ARCON Dr. Olalekan Fadolapo in his welcome address explained that on his assumption of office a few years ago, he constituted the Advertising Industry Colloquium and Journal Committee, to plan, organise and implement the first Annual Advertising Colloquium for academics and professionals in the marketing communications industry.

“The nearly two years of intensive, painstaking and dedicated efforts of the planning committee members have crystalised into the success of the Colloquium that will be declared open by the Honourable Minister for Information and Culture, Alhaji Lai Mohammed in Lagos,” Fadolapo said.

Making a detailed explanation on the colloquium, the Chairman of the organising Committee and Journal Committee, Prof Rotimi Olatunji expressed great appreciation for the privilege of serving as Chairman of the Committee since its inception in June 2021.

He explains that the main objective was to provide a forum for academics and students of mass communication, advertising, and other components of integrated marketing communication (IMC) to interact with professionals in advertising/other components of IMC; media practitioners, policy makers, and regulatory agencies.

“It is a social responsibility -non-fee paying, pro bono- programme widely supported by a plethora of advertisers, marketing communication sectorial groups and regulatory agencies, including ARCON to promote town and gown relationship as well as sensitise participants to current knowledge, professional practices and skill sets required for success in advertising and related fields,” Prof Olatunji stated.

The Chairman also revealed the theme of the Colloquium: “Changing Trends in Advertising Education and Practice in the Era of Globalisation: The Nigerian Perspective” The three-in-one event of the day will provide opportunities for a keynote address, panel discussions on diverse areas of marketing communication theory and practice, and a creative pitch competition.

Not less than six experts will present papers as Colloquium Keynote speakers & Discussants. They include the keynote on “Changing Trends in Advertising Education and Practice in the Era of Globalisation: The Nigerian Perspective” which will be handled by renowned marketing analyst, Mr. Idorenyen Enang.

Those expected at the Colloquium include-all academic staff, media production staff and Heads of Departments of Advertising Regulatory Council of Nigeria (ARCON) accredited universities and polytechnics or mono-technics offering Advertising, Mass Communication, Marketing and related Marketing Communication courses in Nigeria.