Category: Industry

  • PZ Cussons gets ISO certification

    PZ Cussons gets ISO certification

    PZ Cussons Nigeria Limited has been presented with a certificate of conformity to the requirements of International Organisation for Standardisation (ISO) 9001: 2015 Quality Management System (QMS) standard by the Standards Organisation of Nigeria (SON).

    PZ Cussons is the first to be so certified with the new standard by SON. The certification, which is valid for three years, means that products and services from the manufacturing giant consistently meet customer’s requirements, and that quality is consistently improved.

    At the certificate presentation to the company at its factory in Ikorodu, Lagos, during the week, the Director General (DG) of SON, Mr. Osita Abaloma, said that with the ISO 9001: 2015 QMS certificate, the Ikorodu and Aba factories of PZ Cussons are adjudged to have a system in place to deliver quality products to its customers at all times.

    “By this achievement, the company has joined a privileged class of ISO 9001:2015 QMS certified organisations and a trailblazer for others to follow on the requirements of this new standard, Aboloma declared.

  • El-Rufai praises NB on contribution to economy

    El-Rufai praises NB on contribution to economy

    Kaduna State Governor Nasir Ahmad el-Rufai has praised Nigerian Breweries Plc for its role in the economic development of the state. The company, he said, remained the biggest tax payer in the state.

    The governor, who was at NB Plc’s stand at the just-concluded Kaduna Economic and Investment Summit (KadInvest 2.0), said the firm plays a big role in the state, as far as investment and “economic growth are concerned”.

    The governor was accompanied by the National Chairman of the All Progressives Congress (APC), Chief John Odigie Oyegun; Kano State Governor, Alh. Umar Ganduje and his Zamfara State counterpart and Chairman of the Nigeria’s Governors’ Forum, Alh. Abdullazeez Abubakar Yari, as well as the Deputy Governor of Jigawa State, Barrister Ibrahim Hassan.

    El-Rufai maintained that NB Plc was a shining example in corporate Nigeria and a strategic partner for development in the state given its huge investments and social intervention programmes in Kaduna.

    Earlier, while welcoming the governor and his entourage to the stand, the Corporate Affairs Adviser of NB Plc, Mr. Kufre Ekanem, said Kaduna State was a friendly environment for investment and has been home to Nigerian Breweries since 1964 when its first brewery was built in Kakuri.

    Ekanem thanked the Kaduna State Government for its support over the years stressing that the company will continue to be a partner for growth and development in the state in line with its commitment to supporting the development aspirations of its host governments and communities.

  • ‘Requisite technology, competitive skills ’ll drive manufacturing’

    ‘Requisite technology, competitive skills ’ll drive manufacturing’

    Nigeria can only come out of recession if the manufacturing sector is equipped with requisite technology and competitive skills to drive the economy, the General Manager, BEAMCO  Nig. Limited, Mr. Emile Bado, has said.

    He said there was the need to support the productive sector with the necessary machinery and raw materials, arguing that a country that cannot produce and export to earn foreign exchange cannot thrive.

    Speaking with The Nation in Lagos, Bado said, for instance, that the manufacturing sector has been held down by poor electricity supply, which adversely affects its competiveness.

    He regretted that over 30 per cent of manufacturers’ working capital is spent on generating electricity aside other capital projects that should have been otherwise provided by the government.

    The industrialist said although, his company wanted to help the industrial sector to run more efficiently through the supply of compressors, machinery as well as engage in repairs and serviAces, the nation’s poor infrastructure particularly power remained stumbling block.

    “My expectation is to help manufacturers work more efficiently. My company also wants to help indigenous manufacturers in particular areas where we have competencies and also build skills and encourage training for fresh graduates,” he said.

    Bado urged the government to expedite action on the provision of regular power supply, noting that this will drive the manufacturing sector and the economy as a whole.

    He also said that manufacturers, on their part, should always select the right partners that will not only give them good services, but also enable them cut cost in the production process.

    The industrialist recalled that one of the greatest shocks he received when he came to Nigeria was that most people knew next to nothing about emissions and recycling.

    While noting that almost everything can be recycled, from plastics, nylons, bottles etc, he called for greater attention to such areas to rid the streets of refuse and also create wealth.

  • Promoting business, culture in Southwest

    In Nigeria, culture plays a dominant role in the lives of the people. It serves as a symbol of unity and help in shaping the way people perceive things. This is evident among the people of the South West where cultural norm and values are held sacred.

    As part of their culture, indigenous music has a lot of influence on their socio-economic lifestyle. It is perceived as a medium of communication where the instruments are used to send messages for correcting the ills plaguing the society or as a means of relating what the deities have concurred on issues of vital importance.

    The importance attached to their culture is evident in the way they greet, an attitude which has become part of their daily life. While greetings are exchanged, it is important for the people to smile and when asked about the wellbeing of someone, time is given to respond as this is considered to be polite.

    The Yorubas greet their elders with a lot of respect. The boys prostrate to greet their elders, while their female counterparts greet by kneeling on one or two knees depending on the tribe.

    Also, other aspects of the people’s culture are seen in the way they dance, in art works, dressing and philosophy. Proverbs and adages form an important part of their everyday language and are used extensively in all forms of communication, but music plays a dominant role in uniting the Yorubas without barriers.

    This has brought to fore the efforts made by Goldberg, also known as ‘Your Excellency,’ a product from the stables of Nigerian Breweries Plc, in promoting the rich cultural heritage of the people of the South West through music, like the Fuji t’o Bam musical concerts.

    It is a talent hunt initiative aimed at discovering promising Fuji artistes and empowering them to contribute to the growth of the entertainment culture of the people of the South West.

    It would be recalled that the brand in 2012 launched the Fuji t’o Bam initiative and has since then produced young Fuji musicians with bright future.

    Fuji music which has grown in leaps and bounds is a fusion of certain musical influences like ‘Sakara, Apala, Juju and to an extent, highlife. Indeed, the growth of Fuji music has been astronomical, particularly, since the mid-80s when the ace Fuji music artiste, Wasiu Ayinde Barrister waxed his ground-breaking ‘TALA-84’, apart from establishing his musical hegemony and imprint in the minds of the South west elite.

    To every Yoruba in the South West, Fuji music needs no introduction. It is so engrained in the socio-cultural life of the people such that it easily appeals to their feelings and admiration. This was one of the factors that led to the success of previous Fuji t’o Bam concerts organised by Goldberg in the South West.

    The indigenous musical platform, which concluded its fourth edition in 2016, had led to the discovery of Fuji talents. Apart from Tope Ajani, who after months of thrills, drills, excitement and emotions, emerged the Wura1 for the 2016 contest; Fuji t’o Bam has also brought to the limelight young Fuji musicians like Akeem Okiki from Osogbo in Osun State after winning the 2015 title; Twinzobia Twins from Ibadan, Oyo State in 2014; and Antenna, winner of the first edition in 2013.

    This year, Goldberg would bring the best of Fuji and Juju music under an umbrella body called “Ariya Repete”, which would commence audition and selection in major cities in the South West in April.

    It would be an unparalleled experience where young Fuji and Juju artistes would compete in their various capacities to win fabulous prizes and recording deals.

    Meanwhile, the inclusion of Juju music, christened ‘Juju to Gbayi’ into Goldberg’s musical concerts came from feedback from lovers of Juju music who felt marginalised and even tried to pass off as Fuji musicians so as to get a chance to contest.

    They felt the urge to partake in similar musical competition where Juju artistes can also be nurtured for future development.

    To achieve the desired results in this initiative, Nigerian Breweries Plc recently organised the Ariya Repete roundtable, like it did for Fuji t’o Bam to deliberate on how to make Ariya Repete a household emblem in Yorubaland.

    The special guest of honour was the Ooni of Ife, His Imperial Majesty, Oba Adeyeye Babatunde Enitan Ogunwusi, (Ojaja II), who was represented by Oba Adebiyi Asoya, the Asoya of Ile Asoya Kingdom.

    In the course of this, notable speakers such as Prof. Tunde Babawale, former Director and Chief Executive Officer of the Centre for Black and African Arts and Civilisation (CBAAC) and of the Department of Political Science, University of Lagos, gave the keynote address on the topic: Our Music as a Socio-Cultural Lubricant: Juju and Fuji Music Genres of Southwest Nigeria as Case Studies.

    He traced the origin of Juju music to the old Saro (Olowogbowo) quarter of Lagos where the music genre emerged from ‘asiko’ music associated with “area boys” in the quarter and added that it also incorporated Brazilian Samba elements and the guitar style of Kru sailors from Liberia.

    According to Babawale, the music of the culture of the people of the South West, which is Juju and Fuji, has positively impacted every area of life of the Yorubas, including the reduction of socio-economic tension and the prevalence of religious tolerance.

    Babawale posited that it was a man named Tunde King who later transformed ‘Asiko’music into Juju.  Tunde King and his contemporaries such as Akanbi Wright, J. O. Araba, Daniel Ojoge Aleshinloye and others introduced dundundrums, electric guitars and later acoustic guitars in the process of creating Juju music.

    He said until the 1960s, Juju music rendered in Oyo dialect was mainly performed in Lagos.  By the early 60, its performance had spread to other parts of Yorubaland incorporating other Yoruba dialects like Ijesa and Ekiti.

  • SON seals off factory over substandard fans

    SON seals off factory over substandard fans

    The Standards Organisation of Nigeria (SON) has clamped down on a company at Abule Oshun, Lagos, for manufacturing substandard fans.

    SON Director of Compliance & Enforcement Mr. Bede Obayi, told The Nation that the agency acted based on surveillance. He said HangFair International Company Limited, which claimed to have imported the fans from China actually manufacture them in their warehouse without conformity to standard practice.

    He said the company was involved in counterfeiting and faking, using a SON registration number given to another manufacturer who went through the agency’s standards procedures.

    Obayi regretted that the genuine manufacturer is somewhere believing he has done something right by registering his product with SON, but unknown to him somebody in Abule Oshun was reaping his benefit.

    The SON director said: “This man is doing nothing but simply reaping where he did not sow. We have the mandate to close the factory, which we have done and until his product goes through our mandatory assessment programme (MANCAP), we will ensure he does not go back to his illicit business, we insist that the procedure is right.”

    Obayi accused the Managing Director of the company, Mr. Uchenna Ugah, of depriving people the benefit of enjoying the cash they spend on his products.

    He further accused him of using ISO 9002, which SON has discontinued since 1987, stressing that it shows the ignorance of the manufacturer on the need to adhere to quality standards.

    Obayi said SON insists that manufacturers do the right thing, especially as the Federal Government is diversifying the economy and encouraging Micro, Small & Medium Enterprises (MSME).

  • Tanzania’s Dewji bags Africa CEO award

    Group Chief Executive Officer of Mohammed Enterprise Tanzania Limited (MeTL), Mohammed Dewji has bagged the prestigious Africa CEO of the Year award.

    He beat other heavyweights across the continent to take home one of the biggest awards in Africa’s private sector at a gala dinner organised by the Africa CEO Forum.

    Dewji thanked the organisers for the honour. He also thanked John Magufuli, Tanzania’s President for his fight against corruption.

    Anta Babacar Ngom Bathily was crowned ‘Young CEO of the Year’ for her leadership skills as Executive Director of Sedima, Senegal’s leading agribusiness group.

    Created at last year’s Forum, the award recognises a promising young African business leader under 45. Ms. Ngom Bathily dedicated her award to “all women and young women” as well as to her father, who was at the ceremony.

    Egypt-based Elsewedy Electric received the African Company of the Year award, presented to a representative of the Group CEO Ahmed Elsewedy, who said as an African company, Elsewedy “has an obligation to take part in the development and in bringing the right technology to solve Africa’s challenges”.

    The award for African Bank of the year went to Morocco’s leading Attijariwafa Bank, ranked Africa’s fourth largest bank with over seven million clients and more than 16,000 employees in 24 countries. The bank’s CEO, Mohamed El Kettani, received the prize from Amir Ben Yahmed, Founder and President of the Africa CEO Forum.

    The Private Equity Investor of the Year award was given to AfricInvest, a Tunisia-based firm dedicated to the international expansion of French SMEs in Africa. The award presentation was done by EmnaKharouf, Managing Partner at Deloitte ConseilTunisie.

    German insurer Allianz and Portuguese company Mota-Engil, who together have been operating in Africa for over two decades, were the joint winners of this year’s International Corporation of the year award. The award was presented by Michael Rheinnegger, Managing Partner of Rainbow Limited to representatives from both corporations.

  • LCCI faults IMF’s stand on monetary policy

    LCCI faults IMF’s stand on monetary policy

    The tight monetary policy recommended for Nigeria by the International Monetary Fund (IMF) is inconsistent with economic recovery process, the Lagos Chamber of Commerce and Industry (LCCI), has said.

    Speaking with reporters in Lagos,  LCCI Director-General Muda Yusuf said the Chamber does not share IMF’s view that monetary policy needs to be further tightened at this time.

    Tightening the monetary policy was part of the report of the IMF Article IV Consultation on the Nigerian economy. The IMF Article IV Consultations is an independent assessment of the Nigerian economy and the current economic management framework.

    But Yusuf argued that it is inappropriate to call for further tightening of monetary policy in an economy that is grappling with recession, high unemployment, high operating costs, high interest rates, and faltering real sector.

    “Already, interest rate ranges between 25 and 30 per cent and this is adversely affecting businesses and stifling economic growth,” he said.

    The IMF recommendation on review of existing Value Added Tax (VAT) and excise duty also did not go down well with LCCI.

    “Such a move would not be consistent with the economic recovery process. It will also not be consistent with the Federal Government’s vision to build an inclusive economy, spur growth, support the real economy and create jobs,” Yusuf argued.

    The LCCI DG, however, agreed with the IMF’s concern over Nigeria’s fiscal deficit increase from 3.5 per cent of Gross Domestic Product (GDP) in 2015 to 4.7 per cent of GDP in 2016.

    He said that the increase in the nation’s fiscal deficit occurred in spite of the under performance of the capital expenditure during the period.

    He attributed this to the high cost of governance and revenue shortfalls over the period. “It clearly raises concern over the fiscal sustainability in the management of the economy. It underlines the need to keep an eye on the size of recurrent expenditure and other measures to promote fiscal consolidation,” Yusuf said.

    He also said LCCI shares IMF’s concern about the increasing cost of debt service in the economy. “In the 2017 budget, debt service allocation is N1.66 trillion and this is 35 per cent of projected revenue and over 70 per cent of the projected capital spending. This disproportionate resource commitment should be a cause for concern,, he said.

    The LCCI, according to Yusuf, also aligns with the IMF on the need to ease foreign exchange restrictions to boost foreign exchange inflows from autonomous sources and strengthen investors’ confidence.

    He lauded the Central Bank of Nigeria’s intervention in the foreign exchange market, but said that a sustainable framework for the market was inevitable for economic growth.

     

  • CAP Plc inaugurates automated factory

    Chemical and Allied Products (CAP) Plc, a subsidiary of UAC of Nigeria Plc. (UACN), has commissioned its new state-of-the-art in-plant tinting factory.CAP Plc is the manufacturer of Dulux premium brand of paints and the technological licensee of AkzoNobel.In his welcome address at the commissioning event at the company’s factory in Lagos, the Managing Director, CAP Plc, Mrs. Omolara Elemide, noted that the acquisition of in-plant tinting technology was well-thought-out.

    She said it was intended to place the company in alignment with market trends as well as meet the increasing customer demand for paint colours in small volumes.

    Elemide revealed that the company invested in the new automated In-Plant Tinting Technology, which is the first of its kind in Nigeria, to continue to push the limit of excellence in the paint industry and reaffirm its leadership.

    She explained that the automated in-plant tinting technology will make it possible for the company to profitably manufacture premium quality paints in large and small batches within the shortest possible time, while also completely eliminating  colour variation from batch to batch.”

     

  • BUA Group to increase cement market share with 10m tonnes

    BUA Group to increase cement market share with 10m tonnes

    BUA Group has unveiled plans to increase its cement market share with 10 million metric tonnes by 2018.

    At the company’s yearly customers’ forum and award held in Abuja, its Executive Chairman, Abdulsamad Rabiu, said the firm would double its production capacity through an expansion of its production plants.

    “Cement business is a very challenging one, because it is a capital intensive business especially with the declining value of the naira. But I want to assure you that we have embarked on an expansion drive that will be completed by the end of next year or at the beginning of 2018,” Rabiu said.

    He said cement was cheap compared with other African countries, noting that, despite the harsh operating environment, the company would continue to meet its stakeholders’ aspirations.

    Rabiu said the essence of the forum was to celebrate the success of the company’s partners and interact with them.

    “This is an acknowledgement of a solid partnership that works. It is our way of celebrating them for constantly dealing with us through the years to this point. We are rewarding our key distributors who have shown excellence and tenacity in the face of the prevailing economic situation,” he stated.

    Rabiu added that the loyalty of distributors to the brand has helped maintain its high position in the market. “The dedicated workforce is appreciated as well,” he said.

    Presenting gifts to the distributors, Rabiu said: “This award is our little way of celebrating you as you have been with us constantly throughout the year. Your loyalty to the brand has helped us to grow and we will continue to celebrate customers who have been there in this period of economic crisis.”

    BUA Acting Managing Director Mr. Yusuf Benji said despite the challenging operating environment, the company would not compromise on the quality of its products.

    “Our watchword is quality. Anybody that knows our products can attest to their high level quality that will not be compromised. We are going to give Nigerians value for their money,” he stated.

    The company has staked about N100 million in cash rewards, cars and other prizes to stakeholders that supported its business last year.

    In a related development and in furtherance of its commitment to boosting rice production, the Group has disbursed N600 million interest-free loans to rice farmers in Kano State.

    In addition to the interest-free soft loan of N288,000 to each farmer, improved seeds, fertilisers, pumping machines and other rice farming tools were also distributed free to over 2,000 rice farmers.

    The event, which held at Imawa Village, Kura LGA of Kano State, brought together rice farmers from Kano and Jigawa states, under the umbrella of Rice Farmers Association of Nigeria (RIFAN), Kano Chapter.

    Rabiu was at the event to engage the farmers and supervise the distribution of the farm inputs and tools.

    He expressed optimism on the partnership between rice farmers and BUA Rice Milling Company.

    His words: “Kano State, by far, is one of the most potential states in the country for rice farming and BUA is happy to have successfully established a mutual benefitting partnership with the rice farmers”.

    He further stated that the non-interest soft loan granted to farmers was BUA’s way of encouraging farmers to increase their yields.

    Rabiu reiterated that it is the organisation’s initiative of supporting government’s plan towards the drive to diversify the Nigerian economy into agriculture as an alternative to crude oil exploration.

    With 2,000 beneficiaries reached during this pilot phase, BUA targets 50, 000 farmers to benefit from the scheme in the next four years, with a target of a minimum of a million tonnes from Kano State alone.

  • BoI to receive ICAN award for supporting MSMEs

    The Institute of Chartered Accountants of Nigeria (ICAN) has nominated the Bank of Industry (BoI) for this year’s edition of its merit award  slated for April 28 in Lagos.

    The nomination was in recognition of BoI’s outstanding contributions to the growth of businesses and the nation’s economy.

    The institute said the bank was being recognised in the corporate body category of its merit award.

    ICAN said having reviewed BoI’s activities in the last one year, it found that BoI has recorded remarkable improvements in supporting Micro, Small and Medium Enterprises (MSMEs) in line with one of the priorities of the Federal Government.

    The institute said, for instance, that a review of activities during the 2016 financial year showed that BoI’s loans approvals as at December 2016 rose by nine per cent to N150 billion, compared to N138.5 billion achieved in 2015.

    Indeed, disbursements to MSMEs also went up by 42 per cent within the same period to N8 billion, from N5.64 billion in 2015, while the bank’s wide ratio of non-performing loans (NPL) reduced to 3.87 per cent in 2016, from 5.75 per cent in 2015.

    Also, BoI’s operating Profit Before Tax (PBT) rose to N17.4b in 2016, from N11.95b in 2015, representing 46 per cent increase.

    “All these culminated in BoI’s ratings by international and domestic rating agencies being upgraded and affirmed throughout 2016.

    “While Moody’s assigned BoI Aa1 in 2016, up from Ba3 of 2015, Agusto’s rating of AA- in 2016 was higher than A+ of 2015. AA+ assigned by Fitch in 2015 was affirmed in February 2017”, the bank stated in a statement.

    In the last one year, BoI had taken bold steps to implement the economic programmes of the Federal and state governments in collaboration with domestic and foreign development partners.

    The bank noted that conscious efforts have continued to be made towards evolving a favourable ecosystem for SMEs in Nigeria and further deepen its credit delivery process and have it revitalised for speed and efficiency.

    These include expansion of the bank’s branch network, automation of its operations and equipping youths with relevant business skills in solid minerals, agro processing as well as cotton, textile and garmenting.