Category: Industry

eppe Terra (a tomato paste) has been praised for its achievements in the market.

Euromonitor International in its report on packaged food praised the firm for its successes.

This is coming about two years after its launch into the market.

According to Managing Director, Tropical General Investment Nigeria Ltd (makers of Peppe Terra), Roy Deepanjan:“We have been able to put up a brand whose quality and proposition is international.

He said this has been vindicated by Euromonitor International’s special mention on Peppe Terra, adding that the brand was praised for being innovative and uniquely adapted for to suit local tastes’.

Roy added: “The report, on packaged food in Nigeria, goes on to praise Peppe Terra as an ‘unique blend of tomatoes, onions, and spicy chilli, that addresses a local need, rather than being an international product to which consumers have to adapt’.

The country needs strong Micro, Small and Medium Enterprises (MSMEs) and well- nurtured small entrepreneurs to attain 10 per cent growth rate and above in the next decade, the Minister of Trade and Investment, Olusegun Aganga, has said.

He spoke at the maiden Nigerian Banking-Panel evaluation for SMEs’ business proposals in Lagos.

Aganga,who was represented by the Chief Executive Officer of Nigerian Leadership Initiative (LDI),Mr Yinka Oyinlola, challenged banks to look beyond multinationals and large domestic corporate businesses and improve access to those living in rural areas and the informal sector, stressing that it is only in doing so that the financial services industry can meaningfully contribute to national economic development.

He said SMEs have been prioritised to fashion out pro-active development policies, adding that the government is working withinternational development partners, in pursuing financial inclusion to make growth broad-based and sustainable for the hitherto excluded SMEs.

He said in recognition of the important role played by MSMEs in economic development and their contributions to employment and the Gross Domestic Product (GDP), and realising that financial access is critical for MSMEs’growth and development, his Ministry,the Central Bank of Nigeria (CBN) and the Bank of Industry (BoI) were taking the lead in supporting initiatives that would improve access to finance.

“In specific terms, my ministry is looking at three key areas to support the development and growth of a dynamic SME sector in Nigeria.

“First, we have designated SMEs a ‘priority sector’ and are fashioning pro-active SME development policies in respect of finance, appropriate technology and skills development, in addition to rationalising the existing policies and institutions.

“Second, as part of the overall macro-economic management, we are focused on creating an enabling economic environment comprised sound macroeconomic and structural policies, good infrastructure, fair policy of competition, and efficiently functioning institutions.

“Third, we are providing necessary business support services for SMEs including skills training, trade fairs and exhibitions, product research and development, appropriate technology research, access to Export Processing Zones (EPZs), and business support centres,” he said.

He urged entrepreneurs to understand that a potential business idea must be open to evaluation and feedback from others who may provide genuine insight on refining the existing concept.

A new Shoprite store will be opened at the newly constructed Kwara mall in Ilorin today.

The Business Development Manager, Shoprite, Jan Van Zyl, said: “We’re happy to open an outlet in such a welcoming environment. Kwarans are renowned for their effortless taste and we have the quality to satisfy.”

On the expansion projects, he said: “The success of Polo Parks, Enugu has proven that centres of this nature can be successful outside the conventional commercial centre of Lagos and Abuja.

“ Shoprite is proud to be part of this development.  It is to prove the company’s commitment to serving Nigerians from all backgrounds and income groups across Nigeria.  “We believe by going to all places where our customers are located, we can serve our customers better.”

The Human Resource Manager, Shoprite, Adeola Kagho, said about 180 direct and over 100 indirect jobs will be created in the new outlet.

He said: “We build employee competence by investing in training and development. Our training programmes have an organisational and personal perspective to it which results in our employees ability to carry out their jobs effectively.”

NIGERIA exported Sesame Seed products worth N210 billion in the first-half of the year.

Executive Director, Nigerian Export Promotion Council (NEPC) Mr David Adulugba, who made this known in Abuja, listed sesame seed among the export products that earn Nigeria huge income.

He said though the country’s main export revenue earner was oil, there were strong indications that the swing would change soon.

He said sesame seed may become the major earner of foreign exchange for the country.

“The sesame seed, an increasingly popular oil seed, is believed to be oldest of all cultivated seed crops, and is a food of high value throughout Asia since ancient times.

“In Nigeria, however, it ranks second to cocoa in terms of export volume in Nigeria, is fast becoming prominent among non-oil exports,” he said.

He said there are indications that it if well-cultured, it becomes the main foreign exchange earner for the country, especially given that it is suited to Nigerian soil.

His words: “This is so because sesame is produced across many states in Nigeria .

“Although Nasarawa is the leading producer, it is, however, well grown in such other states as Benue,Taraba, Kebbi, Kano, Bauchi, Kogi, Plateau, Adamawa, Kwara, Cross River, Ebonyi, Niger, Gombe, Katsina, Yobe and Borno

“With the efforts of the NEPC thus far, it is believed that just a little more sensitisation and probably increased empowerment of the farmers and the evolution of the right policies that the product would take its pride of place in foreign exchange earning for the country.

He said aside sesame seeds, other export products in the profile included cocoa and cocoa preparations, oil seeds, edible fruits, nuts, citrus, tobacco, fish, shrimps and gum Arabic.

Aside Nigeria, other major producers of the commodity in Africa include Sudan, Ethiopia, Kenya, Niger, Chad but Nigeria, given other considerations, has been charged with the successful establishment of the African Sesame Seed Producers Alliance (ASSPA).

The Federal Government has approved the establishment of 9,555 industrial clusters, the Minister of Science and Technology, Prof. Ita Ewa, has said.

Ewa spoke at the Fourth Annual Continental Conference of the Pan African Competitiveness Forum in Abuja.

The minister said parastatals in the ministry had been sensitised and mobilised to implement the programme at pilot levels in a few locations to serve as proof of concept.

“Subsequently, it would be replicated in all 9,555 political wards in the country based on each ward’s comparative advantage in terms of natural resource endowment,” he said.

He said the replication of the project for other wards would be in collaboration with state and local governments, non-governmental organisations, development partners, banks and multinational companies.

Ewa said: “The implementation of the cluster programme shall involve training of prospective Small and Medium Enterprises (SME) by deploying technologies to designated Skills Acquisition Centres, where prospective SME operators would be trained on the use of the technologies.

“At the end of the training exercise, the ministry will coordinate support from relevant agencies to empower the graduates to acquire and use the technologies for commercial ventures”.

Lafarge Cement Wapco Nigeria Plc has promised to continue to innovate and come up with products that will meet customers’ needs.

Speaking at the just-concluded 26th Lagos International Trade Fair, its Managing Director, Mr Joe Hudson, said the company’s decision to have more than one cement brand was informed by the need to providing customers with a range of alternative cement brands to pick from.

“For us in Lafarge, we are set to re-define the cement industry in Nigeria. We have the technical expertise to do that, because we have built the biggest research cement laboratory in the world to keep us abreast in terms of innovations in cement landscape in Nigeria.

‘‘We are leading the required differentiation in the cement market and will continue to deliver value to our customers and stakeholders through our innovative products and services,” Hudson said.

He said the company had invested a substantial amount of money in the provision of its other products , aimed at providing products and services to building contractors in need of large volumes of already mixed concrete to ensure faster and quality execution of products.

On the Lafarge Readymix Nigeria Ltd, a subsidiary of the company, he said the company had decided to introduce the Readymix concrete in the market because of the huge opportunities for such products, adding that the model of Readymix was already operational in various African countries, such as South Africa, Zambia and Morocco, where the company operates.

His wrods:“Our ReadyMix business has become a preferred solution in the concrete sector in Nigeria. We are expanding with three new plants across the nation”.

“Lafarge Powermax has also been launched, an innovative 42.5AL high quality performance cement that is used for large construction projects like bridges, high rise structures, slabs and beams, spun pipes, garden paths and driveways and so on.”

“ The company is building plants across Nigeria, starting from Lagos. The aim is to provide commercial Readymix concrete product, targeted at providing products and services to building contractors who need large volumes of already mixed concrete to ensure faster and quality execution of jobs.

“We have plants located strategically around various cities, but at the moment, Lagos is where we technically mix the concrete with cement and transport it to the construction site which ensures that the strength and quality is maintained and according to specification,” he said.

The specialised fair and exhibition slated for November 13 to 24 is to enable the country develop its local content policy, Group Deputy Managing Director, Aulic Nigeria Limited Dr Chika Ezeh has said.

The forthcoming fair, with the theme Boosting Nigeria’s development through trade exhibition, will hold at the Lagos International Trade Fair Complex. She said the fair is the maiden edition of what would become an annual event.

The company is the concessionaire of the complex.

Ezeh said the fair aimed to open up the world to young Nigerians as they are targeting business development and investments through involvement of foreign and local businesses as more than 400 firms have indicated their readiness to participate.

She identified ‘irregular government’s policy and lack of respect for agreement as the bane of businesses in the country as the public and private sectors are guilty, adding that this works against the country’s favour as foreign firms find it difficult to cope under the harsh economic climate.

She said foreigners leave because they cannot cope with the way business is being done in the country.

“Unlike local businessmen who have nowhere to go, foreigners bear their loss alone as because no insurance company will like to do business with them.

On why the fair is Aulic’s first,Dr Ezeh said: “The need to study the environment and the issue raised due to the concessionaire agreement, is why this is their first trade fair and exhibition, with more to come up as from next year as, the venue will be used to its maximum capacity”.

THE Rice Millers, Importers and Distributors Association of Nigeria (RIMIDAN) has raised the alarm on the country losses to smuggling.

According to RIMIDAN, Nigeria loses N36.7 billion yearly to rice smuggling and wastes in local rice processing.

On smuggling and duty evasion, it said N20.4 billion was lost yearly, adding that there is N16.3 billion in unpaid taxes by local processors, whose investments had been crumbled by smugglers.

The President of the association, Mr Tunji Owoeye, said in Lagos that the figure came from the monitoring and analysis of developments in the rice sector.

According to Owoeye, the group arrived at the figure based on the simple summation that 30,000 metric tonnes of rice are smuggled into the country monthly, indicating that the government would be losing over N1.7 billion worth of revenue monthly.

His words: “This is in addition to the problems it is causing for the local development initiatives of the Federal Government.

“What the smugglers are riding on is the increase per tonne of rice and the porous land borders. Thus, we are faced with a situation where thousands of bags of rice are being smuggled into the country on a regularly, especially through the rivers linking Nigeria with the Republic of Benin, while genuine processors are left gloomy.”

Owoeye said the body had been partnering the Federal Government to ensure the availability of rice in the country at very competitive prices.

According to him, this will receive a big boost once the borders are policed. Besides, he said it would be a big incentive for the local farmers to produce more, and subsequently meet the local demand for rice.

He said the move would also enable genuine importers to meet with their obligations to their immediate families and the larger society.

Lagos State accounts for 65 per cent of the nation’s non-oil Gross Domestic Products (GDP),GovernorBabatunde Fashola has said.

Speaking at the just-concluded 26th Lagos International Trade Fair, organised by the Lagos Chamber of Commerce and Industry (LCCI), at the Tafawa Balewa Square (TBS), Fashola said the state also accounted for 60 per cent of the value added manufacturing, adding that it is projected to be Africa’s largest megacity and the world’s third largest by 2015.

“Despite being a relatively small state in terms of land mass, Lagos accounts for over 65 per cent of the nation’s non-oil Gross Domestic Product (GDP) and over 60 per cent of the country’s value added manufacturing. Projected to be Africa’s largest megacity and the world’s third largest by 2015. According to the UN Habitat Report of November 2010, Lagos remains the industrial, financial, telecommunications, transportation and commercial hub of the country occupying a strategic position in the nation’s economic development,” Fashola said.

He said government was not unaware of the challenges encountered by entrepreneurs in the state, adding that to constantly address these challenges, the state government organised the maiden edition of the Lagos State Corporate Assembly tagged “BRF meets Business” in March, this year, at the State House, Marina.

To address some of the economic challenge, Fashola said government would be meeting with the Organised Private Sector (OPS) later this month.

“For us in Lagos State, the forging of strategic partnership with the private sector is an economic development model that has been informed by the need to embrace an economic development approach that will guarantee sustainable growth and development. Our economic development agenda has been well reasoned out and articulated to highlight our areas of focus in terms of development needs and this is why we are indeed enthused by the opportunity availed us through this forum, the Lagos State Day, to showcase the investment opportunities in the State to such a distinguished audience with a view to facilitating the creation of mutually beneficial trade and business relationships,” he said.

Fahsola said power remained the bedrock of any meaningful development aganda.

In his address, President, LCCI, Mr Goddie Ibru, said the state governments have to face the challenges of providing more social services demanded by citizens in order to use complaints on the dull business environment.

He said government should consider putting in place a programme where entrepreneurship training talks/lectures on various areas are given by private sector business/ professional Associations, including the Chambers of Commerce.