The Nation Newspaper

Category: Industry

  • Global foreign direct investment slips to $1.52tr

    Global flows of foreign direct investment (FDI) fell by 16 per cent in 2017, to an estimated $1.52 trillion, down from a revised $1.81 trillion in 2016, according to the latest United Nations Conference on Trade and Development (UNCTAD) Global Investment Trends Monitor. According to the report  from UNCTAD, promoting foreign direct investment for development remained challenging as global flows in 2017 fell in contrast to other macro-economic variables.

    In a statement signed by UNCTAD Secretary-General, Mukhisa Kituyi, FDI recovery from the 2008 financial crisis continued to be on a bumpy road. “While FDI in developing countries remained at a level similar to the previous year, more investment in sectors that can contribute to the Sustainable Development Goals is still badly needed.  However, promoting FDI for sustainable development remains a challenge,”he said.

    He explained that the decline was tempered by an 11 per cent growth inflows to other developed economies, principally Australia, while FDI to developing economies remained stable, at an estimated $653 billion, two per cent more than the previous year.

    The statement further stated that flows rose marginally in developing Asia and Latin America and the Caribbeans, and unfortunetly remained flat in Africa.

    In reverse,  the decline of global FDI flows is in stark contrast to other macro-economic variables, such as the GDP and trade growth, which saw substantial improvements in 2017,” Director of UNCTAD’s Investment Division James Zhan, said, adding  that upward synchronisation of the trends in the year is probable, but risks are abundant.

    The UNCTAD Global Investment Trends Monitor also showed that after three years of growth, cross-border mergers and acquisitions (M&As) declined in 2017.

    M&A growth had already slowed in 2016, and went on to contract by 23 per cent in 2017, to $666 billion. However, this still represented the third-highest level since 2007.

    However, elevated geopolitical risks and policy uncertainty could have an impact on the scale and contours of any FDI recovery in 2018.

    In addition, tax reforms in the United States (US) are likely to significantly affect investment decisions by US multinationals, with consequences for global investment patterns.

     

  • FCT yam farmers seek storage facilities to boost exportation

    Some yam farmers in the Federal Capital Territory (FCT) have called on the Federal Ministry of Agriculture to create storage facilities in area councils to encourage yam exportation.

    The farmers made the call in separate interviews with reporters  in Gwagwalada, saying that if adequate yam storage facilities were established in area councils, it would encourage farmers to participate in yam exportation.

    MrAjidala Zaka, a yam farmer in Paso village, told NAN that the yam farmers had no storage to preserve their produce for a long time.

    “Farmers are forced to sell the yams at giveaway prices whenever they notice any sign of decay in them. Very large number of yams decay and are wasted due to the lack of storage facilities in the area.

    “The agricultural institutes in the country should create yam storage facilities in the FCT so as to promote yam exportation in the area,” he said.

    Mr Noroka Musa, a yam farmer in Kuje Area Council, also said most yam farmers were forced to sell their yams at giveaway prices due to lack of storage facilities.

    He said:“As a yam farmer with large harvests, you are compelled to dispose off your yams on time or you face the risk of massive crop damage due to lack of storage facilities.

    “We have just started harvesting yams and the price is low due to increased supplies in the market. The price will later on increase and those with adequate storage facilities will benefit more at that time,” he said.

    Mr Samuel Kura, another yam farmer in Abaji Area Council, appealed to the Federal Ministry of Agriculture and Rural Development to construct yam storage facilities in the area.

    According to him, there is also a need for the ministry to adopt a quality management system in order to improve the quality of yams meant for exportation.

    He stressed that other countries that exported agricultural produce always put in place a quality control system, which was designed to monitor farm produce — from the seed planting stage to the crop harvesting stage — before export.

    “The Federal Ministry of Agriculture and Rural Development should take up the challenge and create yam storage facilities in order to encourage yam exportation and boost production,’’ he said.

    It would be recalled  that on June 29, last year,  Nigeria launched the exportation of yams to Europe and the U.S., as part of moves to diversify the economy and earn the much-needed foreign exchange.

     

  • MAN cautions on tomato paste importation

    MAN cautions on tomato paste importation

    Manufacturers Association of Nigeria (MAN) has urged the Federal Government to protect the huge investments by local firms in tomato production by reducing the importation of concentrated tomato paste.

    Its President, Dr. Frank Jacobs, at a media forum, insisted that the government, through its tomato policy, must regulate the massive importation of concentrated tomato paste, which is killing local industries producing tomato paste.

    According to him, there is a need for the government to check the continued importation of concentrated tomato paste into the country and enhance its local production.

    Jacobs said despite the government’s backing for local tomato paste manufacturing firms, all is not yet well with the industry in terms of stability and conducive environment.

    He noted that importers of concentrated tomato paste still spent billions of naira yearly on the commodity through the seaports and land borders.

    “The issue of tomato has been on for a long time. Members in the sub-sector have invested heavily in the industry. They have made representations through the MAN on ways to protect their industries. I believe that most of the imports you are talking about are not the finished tomato paste, but rather, the concentrate ones,” Jacobs said, adding: “If they are the concentrate ones, then those people that import them are expected to pay some levies. Paying the levy is to balance against those people that have gone into backward integration and, therefore, producing their own tomato concentrates here. Unfortunately, the yield of tomato last year was not very good and that resulted in lack of enough tomato in the country. So, it’s a very difficult situation now.”

    He continued: “But I think what we have been doing in MAN is to continue working with those operators and government policy makers to see how we can balance the situation so that we cannot starve Nigerians of tomato consumption. They have to eat tomato and since we cannot produce enough in the country, people would be allowed to import concentrate, even though they will pay levies for importing them. But at the end of the day, we want to make sure that the operators are doing well and also the consumers that will eat it are seeing it in the market.”

    Speaking further, the MAN boss said despite the availability of land suitable for the cultivation of tomato in the country, it is appalling that foreign tomato paste still find its way into the country.

    Jacobs bemoaned the on-going challenges facing the local manufacturers of tomato paste, adding that apart from the environmental and industrial challenges, the issue of mass importation of the product into the country is the most critical thing affecting tomato development in Nigeria.

    The MAN boss explained that Dangote Group of Industries, Erisco Foods Limited and Savannah Tomato Limited, which are into manufacturing of tomato paste, are groaning over paste importation and non-availability of tomato.

    He also explained that governthe ment needs to further increase tariff on tomato paste importation, as the 60 per cent import duty and $1,500 per ton levy are not enough to deter the continued importation of tomato paste into Nigeria.

    Jacobs said Nigeria is the second largest producer of tomato in Africa and 13th in the world. “Sadly, about 750,000 of the tomatoes harvested in Nigeria go to waste as a result of poor Food Supply Chain (FSC) management, price instability and the supply preference of farmers and middlemen for urban markets than processors due to low farm gate prices,” Jacobs said.

    He added that “importers still spend N11.7 billion yearly on the importation of tomato paste into Nigeria, which is worrisome”, urging the Federal Government to grant indigenous manufacturers special window to backwardly integrate, saying that they should also be granted access to foreign exchange (forex) for tomato development.

  • SON to ensure minimum standards on goods

    The Standards Organisation of Nigeria (SON) plans to establish more laboratories  to ensure that locally-produced goods and imported ones meet the minimum requirement of the Nigerian Industrial Standards (NIS).

    Its Director-General, Osita Aboloma, said the body was determined to put the indigenous products at the international markets, pointing out that to achieve this, the agency had been equipping its staff with the requisite knowledge and technical know-how.

    He stated this during the ISO/IEC three-day laboratory accreditation implementation course at its training centre in Ogba, Lagos.

    He added that the course was one of such programmes to enable SON’s existing accredited laboratories to implement the most current standard released last November.

    ‘‘Therefore, I will implore you all to be attentive, ensure you understand all that you are being taught and prepared to implement the standard towards maintaining our accreditation in the Food and Chemistry Laboratories,’’ he urged.

    He continued: ‘‘It is on record that in 2017, over 40 training sessions were carried out by the unit as against three of such programmes in 2016. There was also a remarkable improvement in the turnover from this division. As part of the readjustment in the efficient and effective running of the organisation, services that can be delivered within the organisation are patronised, thereby saving cost that would have been expended on external parties.’’

    The SON’s boss, represented by the Director, Special Duties, Mohammed Kabir,  said the idea of the impactful training is to impact requisite knowledge, competence, development for both staff and the general public  in order to disseminate information on current standards as well as provide benchmarks for other institutions that are partners in the development of this country.

    He said: ‘‘Pursuant to that, it was established that the division needs to be energised in order to meet up with the current trend. This informed the restructuring of the Training Services Division. Competences of the facilitators continue to remain a primary objective and you will agree with me that there has been a surge in staff capacity building.’’

    He  directed that the next batch of laboratories preparing for accreditation in  Lagos and Enugu would undergo the same course towards achieving accreditation.

    Furthermore, he said, the agency had been working assiduously to develop enough quality infrastructure across the country aimed at making locally made products meet the required minimum expectations for global standards.

  • Chinese firm set to develop Inland Container Depot in Edo

    Chinese firm set to develop Inland Container Depot in Edo

    A Chinese firm, China Harbour Engineering Company (Nig.) Ltd, has indicated its readiness to go into partnership with Atlantique Marine Engineering Services, Edo Inland Container Depot,  known as AMES-Edo ICD on export.

    Mr Jason Wang, who led a seven-man delegation of the firm to the state on the invitation of Edo Government, dropped the hint on Friday in Benin.

    Wang and his team also visited the Gelegele seaport, the operational base of the AMES-Edo Inland Container Depot to assess the work done so far.

    Wang said he was impressed and that his firm would look at possible ways of collaborating and partnering with AMES-Edo to drive the project to its earliest conclusion and begin full operation.

    “We are impressed with the work done here so far. China Harbour Engineerng Company ( Nig.) Ltd will look at possible ways of collaboration to drive the project to its earliest conclusion,” he said.

    He said the team was in the state as a follow up to  Gov. Godwin Obaseki’s business visit to the company in China about three weeks ago where an MOU was signed by the state government and the company to develop the Gelegele Seaport.

    READ ALSO: Gelegele Seaport: China Harbour arrives Benin, commences work on project

    Dr Charles Akhigbe, Chief Executive Officer ( CEO ) of Atlantique Marine and Engineering Services, AMES, the promoters of the AMES-Edo inland container depot, said the organisation was confident that the proposed inland container depot would reduce the cost of export of agricultural produce and increase government’s GDP.

    Akhigbe disclosed that the port was just three steps from final approval for full operations to commence.

    He said  the project would create not less than 3,000 jobs for youths and provide the platform for exchange of knowledge between government and foreign investors.

    He also said that the container depot would emerge as the pioneer full-fledged inland container depot in Southern Nigeria to commence operation and would immediately serve the need of haulage services.

    According to Wang, the company has already commenced negotiation with the Federal Government to build modern railway lines as a primary mode for long distance haulage of cargo, noting that 75 per cent of Nigeria’s total export passed through Edo.

    “Discussion is ongoing with the Nigeria Railway Corporation to use BOT PPP mode to construct 110km short spur line from Agbor to Edo inland container depot.

    “For now the inland container depot will operate 100 per cent by road but in the next 6-10 years, 40 per cent will go by road while 60 per cent will be by rail.

    “The phases one and two of the inland container depot would accommodate 12, 000 units of 40ft TEUs and 8,000 units of 40ft TEUs with a maximum of 25,000 TEUs at any given time,” he said.

    Meanwhile, the Senior Special Assistant to the Edo Governor on Business Bureau, Mr. Edward Osayande, said the governor was committed to industrialising the state by encouraging public private partnership.

    He said the inland container depot was the central plank of the state government’s effort at creating jobs through industrialisation.

    He also stressed the need to bring the Gelegele Seaport, AMES-Edo inland container depot and Edo Industrial Park together to drive development in the state.

    NAN

  • ‘$408b global ceramics market beckons on Nigeria’

    ‘$408b global ceramics market beckons on Nigeria’

    In 2012, WinterGreen Research, an independent research organisation, announced a new study on Ceramics Market Shares, Strategy and Forecasts Worldwide – 2012 to 2018. According to the study, global markets are poised to grow steadily as developing countries’ population creates middle class, encouraging the demand for ceramic products. The lead author of the study, Susan Eustis, says the forecast indicates that the $279 billion ceramics trade will reach $408 billion this year. However, the Ceramics Researchers Association of Nigeria (CeRAN ) says  Nigeria needs to do more to meet its market share of the target. OKWY IROEGBU-CHIKEZIE reports

    Experts have argued that the quest for diversification and capital inflow from non-oil sector can be realised if the nation taps into the huge potential in ceramics manufacturing.

    Ceramic products, such as crockery (plates, dishes and other items) and sanitary wares, apart from their decorative look, are primarily hygienic. This is also one of the main reasons for their wide usage in bathrooms and kitchens in households to medical centres, laboratories, milk booths, schools and public conveniences, among others.

    All these make it attractive as a huge foreign exchange earner for the country. But, in all these, Nigerian ceramics manufacturers seem not ready to meet their share of the global market projection of $408 billion by the end of the year.

    Ceramic Researchers Association of Nigeria (CeRAN) President and Chief Executive Officer (CEO) Epina Technologies Limited, Prof. Patrick Oaikhinan, told The Nation that ceramics manufacturers have unfortunately focused mainly on narrow area of the sector, adding that it will not give them the needed edge to meet the projected increased demand that would yield the projected amount by the end of the year.

    To a former Deputy Director in charge of solid minerals, ceramics and electroplating technologies at the Federal Institute of Industrial Research Oshodi (FIIRO), Mr. Patrick Sonny Irabor,  there is a huge opportunity in ceramics business awaiting the nation and  that 85 per cent of the raw materials that would be needed could be obtained locally.

     

    Prospects of the sector

     

    For Oaikhinan, the emergence of West Africa as a manufacturing hub for the ceramic industry because of the growing construction sector, is expected to have a positive impact on the market.  According to him, low manufacturing cost, compared to countries in North America and Europe, have forced numerous ceramic manufacturers to commence production in West Africa, adding that in December 2013, West African Ceramics Limited made an investment of over $50 million to begin production of ceramic tiles in Nigeria.

    His words: “Construction industry growth in bricks, with rising demand for new residential structures in the emerging markets of China and India due to urbanisation, are expected to drive market demand for ceramic tiles over the forecast period. Asia-Pacific was the largest ceramic tile market, exceeding 60 per cent of global volume in 2013.

    “The governments of India and China have increased spending on infrastructure improvement, which is expected to promote the demand for residential and commercial structures and boost the ceramic tile market over the forecast period.”

    The global construction industry is growing rapidly with a major contribution from emerging countries. In 2016, the revenue generated by the global construction industry reached approximately $8.82 trillion from $7.91trillion in 2012. The revenue is expected to reach approximately $14.98 trillion by 2025. The emerging countries accounted for 51.9 per cent of the total construction industry in 2016 and estimated to contribute approximately 62.5 per cent by 2025. The governments of these regions are investing significantly in residential homes, owing to the rapid urbanisation in lieu of jobs, better lifestyle and other amenities.

    Underscoring the huge revenue sources of ceramics, Prof Oaikhinan gave figures to buttress the fact that ceramics is a huge foreign exchange earner.

    He pointed out that for decades economists have created models to determine what best drives economic growth in an attempt to help policy makers know where best to focus their efforts. Creative thinkers have reasoned that computer training, foreign languages, sports schools and provisional work agencies could help to reduce unemployment and generate wealth in Nigerian economy while Ceramics manufacturing business is conspicuously absent.

    Emphasising the importance of ceramics, Irabor stressed that without ceramics, there would not be the convenient employment of electricity, the production of the highest grade of steel and that most other products of the furnace would be impossible. According to him, there will be no bricks or tiles, the production of corrosive chemicals, the use of crucibles for refining purposes would remain unknown. In short, a modern industry state without the many diverse forms of pottery is almost inconceivable.

    He said the manufacture of ceramics will encourage reactivation of dead factories, establishment of new industries, improve the exploration and appropriate utilisation of the nation’s abundant natural solid mineral resources.

    He also stressed that it would create industrial activities, employment generation and economic empowerment of the citizenry, while the huge import dependence of ceramic products would be reduced. “The development and investment in this non-metallic solid mineral-based sector would go towards the much talked-about diversification of the mono-oil economy,” he added.

    “The prospects for ceramics and glazes in Nigeria are phenomenal as they stand to accelerate development. In today’s world, pottery has grown through development in science, technology and engineering to assume a formidable role in the modern and space age of man,” he stated.

     

    Challenges

     

    Concerning the challenges in the sector, Oaikhinan said prior to 1980s several ceramic industries such as   Richware Ceramics (Lagos); Modern Ceramics (Umuahia); Nigergrob Ceramics (Abeokuta); Ceramic Manufacturer (Kano) and Quality Ceramics (Shagamu), among others, were enjoying booming businesses.

    He, however, lamented that they are all moribund, noting that  only four local ceramic manufacturing industries that are still producing  and their products are mainly tiles and sanitary wares.

    He said: “These industries are producing below installed capacity because of shortages of professionals with generic and technical skills in ceramics manufacturing business. There is also the absence of avenues for people that are interested in ceramic manufacturing business to pursue their ambitions, just as there is the absence of training programmes in ceramic science, engineering and technology in our universities or polytechnics. There are equally lack of knowledge of the chemical and mineralogical compositions, and non-existence of raw material processing plants to feed the local ceramic industries.”

    He canvassed the strengthening of ceramic entrepreneurship in Nigeria, arguing that it is the golden highway to economic democracy.

    For Irabor, the challenges facing ceramics and its glaze component manufacturing in Nigeria are enormous. There are a number of critical factors necessary for the development and growth of ceramic and glaze technology and their manufacture in Nigeria. “Such factors are many and they varied from the government policy framework, financial structures, politics, expertise, manpower, technology, to availability of appropriate raw materials,” Irabor said.

    According to him, available skilled manpower in this sector is either being frustrated into changing into other profession or is redundant, leaving the stage for pseudo-experts in ceramics.

    In the area of equipment, he observed that the nation’s machinery and system building capabilities are very low and the sad situation has reflected in the level of production, huge import bill, poor maintenance culture and high failure rate of industrial projects. With particular reference to ceramic manufacturing in Nigeria, the dependence on imported machinery, remains high as the most vital systems must be imported, maintained and operated efficiently for a sustainable production process.

     

    The way forward

     

    The way forward lies in charting a positive course to revert the current situation to reduce import dependence, create employment opportunities, improve living standard and reduce poverty just by exploiting and utilising our natural solid mineral resources, Oaikhinan said.

    More appropriately, through adequate funding of Research & Development (R&D), manpower development and general capability building in the non-metallic mineral and ceramic sectors, the situation would substantially improve, he added.

    For decades, economists have created models to determine what best drives economic growth, in an effort to help policy makers know where best to focus their efforts. “Creative thinkers have reasoned that computer training, foreign languages, sports schools and provisional work agencies could help to reduce unemployment and generate wealth in Nigerian economy,” Oaikhinan said.

  • NESG canvasses reforms to improve access to education, healthcare

    The Nigerian Economic Summit Group (NESG) has said reforms in key sectors of the economy, accompanied by strategic investments, are necessary to improve quality of life and obtain better educational outcome.

    The group stated this in its 2018 Macroeconomic Outlook titled: “Will Nigeria’s growth be inclusive in 2018 and beyond?”

    The outlook, obtained by The Nation, indicated that development of human capabilities, access to quality education and healthcare are basic rights of citizens.

    The NESG advised that government policies should be tailored to significantly support both sectors to improve standard of living in the country. “The relevance of education remains unclear, as it is apparent that the educational system is raising graduates that find it difficult to fit into the workplace, even as innovation and entrepreneurship learning are not picking up as expected.

    “Healthcare in Nigeria is in a dire strait; this is evident in the high infant and under-five mortality rate.”

    According to NESG, growth in population, which is expected to reach 399 million by 2050, will increase the demand for jobs and social services.

    It indicated that there was an urgent need to up-scale job creation to salvage current unemployment and underemployment situation.

    The group revealed that the social sector could help in filling the job gap through skills development to boost productivity and reduce number of unemployed citizens.

    It indicated that government spending and urgent reforms must support the development of the social sectors to improve literacy rates; learning outcomes; access to quality health education and gender equality.

    “ Interestingly, the Economic Recovery and Growth Plan (ERGP) recognises the importance of developing these sectors and outlines several reforms to be implemented by the government.”

    The NESG also recommended the provision of socio-economic data to measure progress recorded in the country. “The government should provide frequent and timely data on poverty, learning outconmes, out-of-school, mortality rates, unemployment rates to track Nigeria’s performance on improving quality of life,”it said.

    It also suggested the enactment of a national skills development policy and programme to address skills and capability challenges across all sectors in Nigeria.

    “In the light of this, we propose that the Graduate Internship Scheme (GIS) needs to be reviewed and implemented to encourage synergies between the private sector and the fresh graduates.

    “Nigeria needs holistic structural reforms for the education sector; the purpose of education in Nigeria needs to be clearly defined, while issues of accountability and governance of the sector must be given utmost attention.

    “Nigeria’s curriculum must be up-to-date with the rapidly changing skills-need of the country. To achieve this, the Nigerian government must strengthen public-private approaches in the review of the curricula at different levels.”

  • Deferred constitution of MPC may hurt economy, says LCCI

    The economy may suffer investment hurt if the Senate continues to defer the full constitution of the Monetary Policy Council (MPC), the Lagos Chamber of Commerce and Industry (LCCI) has warned.

    It said the non-confirmation of remaining eight members of the 12-man council, which caused the postponement of the Central Bank of Nigeria’s first Monetary Policy Committee meeting, could attract adverse consequences to the economy.

    At the chamber’s first briefing on  how the economy is fairing in Lagos,  its President, Babatunde Ruwase said the relevance of the MPC in determining interest rate and other economic indices was more  essential than political tussle straining the council’s efficiency.

    “The MPC has the mandate to review economic and financial conditions in the economy; determine appropriate stance of policy in the short to medium term; review regularly, the CBN monetary policy framework and adopt changes when necessary. The failure of MPC to meet as schedule has adverse implications for stakeholders in the financial sector and the economy in general. We call on the Presidency and the Senate to speedily resolve their differences in the interest of recovery and growth of our economy,” he said.

    Reviewing issues ranging from foreign exchange market, inflation, interest rate, foreign reserve, capital market, recurring fuel crisis, power situation and security among others, he said access to funding remained narrow for many domestic investors and private sector players, especially the Small and Medium Enterprises (SMEs), noting that the commercial banks unfriendly lending rate was  still pegged between 20 and 35 per cent.

    Despite fragile economic growth backed by the  appreciation in crude oil price, oil output and better liquidity in the forex market, Ruwase believed the growth could only be sustained by job creating and socially inclusive initiatives.

    This, according to him, will spur backward integration while improving patronage of made in Nigeria products.

    “Beyond the GDP numbers, we have to contend with the challenges of unemployment, which was at 18.8  per cent in the third quarter of 2017, translating to 16 million unemployed people,” he said.

    The chamber also raised concerns over the reluctance of government to liberalise the petroleum sector, highlighting the concentration of petroleum products supply in the NNPC.

    The model of managing the downstream petroleum sector, he added, was not sustainable as it was at variance with the administration’s drive to diversify the economy.

    “The weak compliance with the regulated price of PMS in parts of the country is largely a symptom of much deeper problems and distortions in the petroleum products supply chain.  The government needs to urgently liberalise the downstream petroleum sector for unfettered private sector participation and investment, subject of course, to an appropriate regulatory framework.

  • Business School partners Goldtracts on entrepreneurship devt

    The Rome Business School Nigeria and Goldtracks Business Place Limited, Lagos,have signed a Memorandum of Understanding (MoU) on Small Medium Enterprise (SME) development programme in Nigeria.

    At the signing on the school’s premises in Yaba, Lagos, its Country Manager, Dr Humphrey Akanazu, said: “We believe that as a result of this MOU, more Nigerians would be positively engaged, get jobs, venture into their own businesses, gain innovative ideas and gain expanded entrepreneurial expertise.”

    Akanazu said the partnership was to enhance SME entrepreneurship development in Nigeria.

    He explained that Rome Business School operates as an extended campus for Rome Business School in Italy, adding that it is an international managerial training and research institute with the aim of providing managerial training courses for entrepreneurs, managers, and professional, multinationals companies and organisations.

    Explaining the key features of the MOU, Akanazu said: “Rome Business School Nigeria designed the contents of the training with special attention to Finance Management, Business Plan, Marketing, Buiness Registration and Taxation Laws, and other managerial courses for the enhancement of the participants’ understanding of entrepreneurship while Goldtracks would expose the participants to various SME skills acquisition Module (SAM) on various opportunities available in the economy.”

    According to him, Goldtracks will be responsible for Ofada rice production and packaging, smoked fish production, nylon production, plantain and potato chips production, cassava flour/garri packaging and laundry soap production.

    Others includetoilet cleanser production., palm kernel oil production and packaging, fruit Juice production and packaging, green house production, broiler chickens  and eggs production.

    He added that Goldtracts will also render free Business Advisory Service to participants.

  • FIIRO, NIRSAL, PTDF to enhance agric value chain

    The Federal Institute of Industrial Research, Oshodi, (FIIRO), Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) and the Petroleum Technology Development Fund (PTDF)  are collaborating to enhance growth and improve food production.

    FIIRO Director-General Prof Gloria Elemo said the tripartite agreement would utilise indigenous technologies to diversify the  economy, create jobs, improve the Gross Domestic Product (GDP) and impact on the socio-economic wellbeing of citizens.

    According to her, the partnership will fast-track development of the agricultural sector through special focus on commodities that the nation had comparative advantage in producing.

    Elemo said FIIRO will utilise its competency to fabricate and install processing machinery and equipment for micro, small and medium enterprises as well as render technical consultancy services to large scale enterprises in the agric value chain.

    The partnership, she stressed, would focus on the agricultural sector based on its strategic role to drive the nation’s diversification plan.

    NIRSAL Managing Director, Alhaji Aliyu Abdulhameed, also said the agency was well funded by government with over $500 million to finance agric projects and its value chain.

    According to Abudulhameed, the government had empowered NIRSAL to play an active role in tackling and coordinating key issues in agriculture sector to ensure that increased food production and proposed industrialisation agenda become a reality.

    He reiterated NIRSAL’s readiness to adopt FIIRO’s Tomato Catalytic Model Plant already operating in Kano as a model for enhance agricultural value chain in the country.

    NIRSAL’s interventions, he said, would increase producer’s access to credit, boost income and standard of living and assist in the realisation of a stronger post-oil economy.

    PTDF Executive Secretary, Bello Aliyu, said the agency was in the partnership to develop human capacity towards transforming the country into an industrial hub through indigenous technology.

    He said technologies would assist the country stem the tide of post-harvest losses in agricultural commodities and boost activities of farmers and agro-processors.