The Nation Newspaper

Category: Small Business and Entreprenuership

  • ‘Farming is a lucrative business’

    Many young Nigerians are quitting their flourishing careers, ditching their businesses and opting for farming as a profession. Most of them say it wasn’t the lack of jobs, but the search for a more sustainable lifestyle that prompted the move. Innocent Mokidi owns Brote Urban Farm, worth millions. He shares his story with DANIEL ESSIET.

    INNOCENT Mokidi, an Accounting graduate from Edo State, never envisaged he would become a successful agri-entrepreneur. But as providence would have it, a risk taken saw Mokidi, the Chief Executive of Brote Urban Farm, dumping employment for farming.

    The Abuja-based entrepreneur is the owner of a flourishing agro-business with  a strong presence in  vegetable farming.

    He started in 2013 as a poultry keeper with 1,000 birds. Three years later, he had become the owner of 5000 layer birds.

    The success that accompanied his poultry business made him to start a vegetable farm in Abuja year later. He researched how to grow better, healthier food. He  engaged  five people to work with him. Today, the venture is a sucess story. The farm is worth millions.

    He said: “Right now, we have 30 persons working full time and 162 as part time. I can still  remember in 2014 when I started Brote Urban Vegetable Farm Processing Limited in Abuja  with just half an hectare cultivating maize and tomatoes.”

    ‘’This year, I am cultivating 150 hectares planting maize, soybean and sesame seeds.The beauty of it all is that we have been able to find new ways to increase our yields in all three crops and also improve on the best agricultural practices.”

    Read Also: ‘How I became a millionaire through fish farming’

    According to him, the  major crop  that gives him is soybean. In Abuja, where he resides, he is one of the most sought-after poultry farmers.

    “Looking back, I can  say that it was the best decision of my life to  go into farming. I remember no one took me serious when I first started farming; people used to  ask:  ‘’What am I doing in the farming space, because everyone views farming as a profession for the old people and people in the rural areas.But today am glad to see more young people involved in the agricultural space.”

    However, his success did not come without hard work, strategic planning and implementation. He spent time on farms to see things first hand. In the last five years, he has also been working on an excel sheet that records daily crop prices, hoping he can predict pricing and take advantage of it.

    He specialises in fast-maturing crops that take an average of three months to be ready—with high returns upon harvesting. He grows vegetables, such as beans, tomato, radish and other green leafy vegetables.

    He has the knowledge and skill, which included enrichment of fertiliser and pest management. He has also has skills in post-harvest management, marketing, business planning, compost making and saving.

    His farm has also established a nursery and vegetable farm in the nation’s capital to serve growers.

    Mokidi is building low-cost greenhouses to ensure that vegetables are grown in environmental- friendly greenhouses.

    He plans to cultivate safe and high-quality crops that meet international standards.

    Another strategy that worked for him was, perhaps, his eagerness to learn and understand quickly.

    He wants youths to embrace agribusiness. He believes their involvment in agriculture could reduce the problem of ageing farmers and increase youth employment.

    Besides, he wants to introduce young people to cash crops that will enable them to earn enough money.

    For him, their developments in agricultural technology and agribusiness models could transform livelihoods and the economy.

  • ITC invites women entrepreneurs

    The International Trade Centre (ITC) has announced a new call for women entrepreneurs and women-owned businesses to apply to SheTrades Invest  to get training and finance to grow their businesses.

    The SheTrades initiative aims to connect three million women to market by 2021. It brings together stakeholders around the world to work on seven actions to address trade barriers and create greater opportunities for women entrepreneurs. It is supported by a web and mobile digital platform.

    A project of the SheTrades Initiative, SheTrades Invest will be open to women-owned businesses in the countries in which SheTrades has partner investors across Africa, Asia, the Caribbean and Latin America.

    All applications will be reviewed and selected companies will gain access to learning opportunities and technical assistance provided by ITC and its partners to improve their investment readiness and competitiveness.

    Companies selected for the training will also be assessed by a growing network of investors looking to fund promising enterprises and ideas.

    The second phase of SheTrades Invest will cover agriculture, artisan, culture, education, energy, environmen, financial services, health, housing development, information and communication technologies, Infrastructure and facilities development, manufacturing; supply-chain services, technical assistance services, textile and clothing, tourism, transport and logistics, and water.

    During the first phase of SheTrades Invest, ITC trained over 600 women and businesses on topics related to investment readiness and conducted boot camps in five countries in partnership with local accelerators and other partners.

  • Boosting entrepreneurship through green opportunities

    Renewable energy saves scarce resources, maintains healthy ecosystems, minimises pollution and waste. It also creates jobs and boosts entrepreneurship, DANIEL ESSIET reports.

    Green businesses that safeguard the health of consumers and communities are generating jobs and boosting entrepreneurship. One of them is renewable energy, which fuels some businesses.

    The growth in renewable energy is creating new jobs in Africa. Experts see green business as a win-win solution to address development challenges. The renewable energy job market is booming. It is estimated that it will create 24 million jobs worldwide by 2030 – up from 9.2 million reported in 2014.

    According to the International Renewable Energy Industry (Irena), the proportion of renewables in the global energy mix will double and increase gross domestic product (GDP) by up to $1.3 trillion across the world.

    In 2014, it accounted for more than 2.5 million jobs, largely in operations, maintenance and manufacturing – now increasingly dominated by a jobs boom in Asia.

    As Nigeria explores ways of tackling high unemployment rate, experts say the country’s $250 billion potential in green economy could play a vital role in this regard. They say entrepreneurs can tap into the enormous opportunities in the green space to create millions of jobs.

    A green economy is low in carbon, resource efficient and socially inclusive, according to the United Nations Environmental Programme (UNEP). In a green economy, growth in employment and income are driven by public and private investment into such economic activities, infrastructure and assets that allow reduced carbon emissions and pollution, enhanced energy and resource efficiency, and prevention of the loss of biodiversity and ecosystem services, UNEP adds.

    The experts, who spoke at a forum organised by the Nigeria Climate Innovation Centre (NCIC) in Lagos recently, said with the consequences of climate change on the ecosystem, it is imperative that entrepreneurs leverage the opportunities in the green space to create solutions and wealth.

    “Nigeria has power gaps of about $200 billion, agricultural waste of 40 percent and 200 million people creating waste that is not recycled,”  Chief Executive, All On, Wieber Boer, said.

    “This shows that there is a huge investment opportunity in the country’s green economy that entrepreneurs can tap into by creating solutions that are viable and sustainable to these challenges,” Wieber said. All On is a company set up by Shell Company with a mission to increase access to commercial energy products and services for underserved and unserved off-grid energy markets in Nigeria, with a special focus on the Niger Delta.

    He stated that with more solutions being provided to address climate change, the country will be able to create new jobs and scale the opportunities in the green economy.

    He noted that it would be hard for the country to build a green economy, if the government continues to subsidise petrol.

    According to him, the green growth sector offers great economic and ecological benefits for small businesses and is estimated to grow considerably in the coming years.

    Also, NCIC Chief Executive Bankole Oloruntoba said the global green economy is a multi-trillion dollar economy, which the country’s entrepreneurs could harness through innovative solutions.

    “If Nigeria is able to develop conducive environment for the growth of the green economy, the country could have a massive share from the over $14 trillion global green economy,” Oloruntoba said.

    “In Nigeria the challenges are enormous and if we can create some form of opportunities to support businesses in that space in terms of capacity, it will create a rival opportunity for the country to build an economy that does not depend on crude oil,” he said.

    “The green economy gives the country the opportunity to create more jobs and there are lots of opportunities in the green space with covers from media, to transportation, to waste management and even to educate among others,” he further said.

    He noted that the NCIC was providing technical training to start-ups that are creating solutions to issues of climate change.

    He said his organisation was planning to create a fund for businesses in the green space with the  Central Bank of Nigeria (CBN).

    Charge d’ Affaires of Ireland Bob Patterson, while reeling out some of his country’s programmes for growing its green economy, said that Ireland would continue to support Nigeria in growing its own green space.

    “Agricultural practices are significant and major contributors of climate change and we must find ways to address this,” Patterson said.

    “We are committed to supporting diversification within agriculture and land use to develop sustainable and circular value chains and business models for lower carbon intensifying farming,” he noted.

  • Agric Summit: Positioning Nigeria to feed Africa

    The Agricultural Summit fits into the African Union’s goal to drive Intra-African trade enunciated in the African Continental Free Trade Agreement (AfCFTA), reports Daniel Essiet

    The oft-repeated declaration that Nigeria is the giant of Africa is mainly due to its abundant human and natural resources. Indeed, the country is so blessed with vast arable land to the extent that experts have regularly expressed the view that Nigeria has the potential to feed its teeming population and the rest of Africa if the agriculture sector is properly harnessed.

    Nonetheless, the potential of the agriculture sector has remained largely untapped despite its capacity for employment generation, food security and poverty reduction in the country. But there is hope that the drive to achieve a hunger-free Nigeria remains a feasible one.

    Sterling Bank has taken up the challenge of addressing issues preventing the agriculture sector from attaining its full potential through Agriculture Summit Africa holding in Abuja, from the 5th to 6th of September 2019.

    The theme of the continental summit which seeks to transform Nigeria into a global leader in food production, processing and marketing is “Agriculture – Your Piece of The Trillion-Dollar Economy”.

    A timely initiative,  the continental summit is convened to address the future of agriculture in Nigeria and Africa at a point the continent is becoming a single market with over 1.2 billion people through the Continental Free Trade Area (AfCFTA) treaty.

    Addressing the media in Lagos on Agriculture Summit Africa which will bring together policy makers, development agencies, international finance institutions and value chain players on the continent, Yemi Odubiyi, Executive Director, Corporate and Investment Banking, Sterling Bank, said it will address the issues preventing the very important sector from attaining its potential because food security on the continent has become a critical issue.

    Odubiyi disclosed agrarian land are becoming increasingly desolate in the face of climate change and rapid population growth making food security a big challenge. Using Nigeria with population estimated at 200 million as an example, he emphasized Africa’s food security challenge by pointing out that the country’s annual population growth rate of 3 percent outstrips economic growth rate at less than 3 percent.

    “Agriculture is the focus of the government of the day in Nigeria, and it is one that has been well chosen. It will be difficult to stabilise the country until the food security challenge is addressed, and we very much appreciate the initiatives of all stakeholders addressing this same issue. We are very happy to make this our contribution to that effort. Agriculture Summit Africa will address food security and the other big problem which is job creation for young people. We all know the capacity to generate jobs that agriculture has and we believe that by supporting the sector, we will be contributing a great deal to solving the unemployment problem in Nigeria”, Odubiyi remarked.

    He added that his bank is in a unique position because of the H.E.A.R.T of Sterling Project which makes agriculture the centerpiece of its specialised focused sectors in Nigeria. “We have over the last nine years developed the leading agriculture finance business in Nigeria with about 10 per cent of our loan book in the sector. And that preceded the government policy on lending to the agriculture sector. We also are aware of Continental Free Trade Area (AfCFTA) treaty which took Nigeria some time to endorse.

    “From a market of about 200 million, we suddenly face a potential market of 1.2 billion people if we know what we are doing as a country. We can export agricultural products to other African countries, not just to Europe and that’s what getting a piece of Africa’s $1 trillion agribusiness economy is all about. Working with all other stakeholders, Sterling can help build farming businesses from small land holders to very large, sophisticated operations that help enhance food security in Nigeria.”

    The bank’s pedigree in agriculture financing is impeccable. It is oneof the first commercial banks in the country to participate in the Central Bank of Nigeria’s (CBN’s) Anchor Borrowers Programme (ABP) for smallholder farmers in Kebbi, Sokoto, Zamfara, Kaduna, Ogun and Oyo states in partnership with development financial institutions such as DFID-PropCom and DFID-MADE. Sterling Bank is deeply involved in the funding of vital agricultural projects across the country.

    Also speaking, Bukola Awosanya, Group Head, Agriculture and Export, Sterling Bank, explained that the first agriculture summit organised by the bank last year brought together smallholder farmers, input suppliers, agro-processing entrepreneurs, development finance agencies, policy makers and captains of industry in Abuja. According to her, the 2018 summit focused on co-creating a sustainable Nigerian economy through rural agricultural enterprise.

    “This year, we have raised the bar by unveiling the Agriculture Summit Africa, which is a more ambitious attempt at addressing issues preventing agribusiness in Africa from attaining their full potential,” she said. She added that it should surprise no one that Sterling Bank and its partners are leading the charge to address the issues facing agribusiness on the continent.

    She said Sterling Bank has helped a lot in developing the country’s agriculture value chain, adding the bank is a thought leader and the preferred lender for smallholder farmers, agribusinesses, input suppliers and other players in the local agricultural value chain.

    “We are quite proud of our huge intervention in the agriculture value chain which is creating food security, stimulating job creation, while also enhancing the income of farmers in agrarian such as states Kebbi, Sokoto, Zamfara, Kaduna, Bauchi, Ogun, Imo andFCT Abuja, among others.”

  • Searching for more opportunities

    Building businesses is a passion for Adagbada Dipo, the Chief Executive of Exzie Business Hub. He gives tips in this report by DANIEL ESSIET.

    MANY university graduates or youngsters with a few years of experience and innovative minds are entering the digital space and trying to create a place for themselves.

    These young minds are smart, well-read and witty, and know the industry well. Owing to their deep knowledge and skills, they are changing the dynamics of the industry in various ways.

    The Chief Executive, Exzie Business Hub, Adagbada Dipo, a budding entrepreneur, falls into this category. He has built businesses and is unable to resist the urge of starting something. His passion is driven by several factors, including the desire to define the entrepreneurship space.

    He runs his digital hub that is using latest financial technologies, such as blockchain, artificial intelligence, cloud computing and big data, to provide solutions to challenges faced by micro, small and middle-scale enterprises in developing countries.

    Dipo has been involved in 12 businesses, including fashion. He said: “From 2007 to this moment, I have embarked on over 12 businesses. I started with a trading business called The Perpetuals. I sold fashion accessories and that was while I was in my first year at the university.”

    He  discovered that starting a digital hub that will create solutions for innovation-driven entrepreneurs to take their business to the next level is his forte.

    He said: “Having embarked on numerous businesses in various sectors in an economy like Nigeria’s, it became imperative to create a platform where entrepreneurs would have business solutions at their finger tips. I faced challenges ranging from manpower to finance, and even lack of basic business administration and management tools set. This gave birth to Exzie – providing solutions to challenges I went through as an entrepreneur.” Exzie started with less than a N100,000, but today, the business is self-sustaining with 10 people on his payroll.

    The business consists of mentorship, advisory services, access to investor and corporate networks and workshops on business.

    He considers the hub a support mechanism for businesses that have the potential to grow the digital economy by creatively using new technologies.

    For Nigeria  to be considered a true nation of technology, he believes digital entrepreneurs need a platform for success.

    He wants to be part of initiatives that provide the resources for aspiring entrepreneurs to collaborate with one another, make the most of modern technology and create jobs for a new generation of digital natives.

    He  wants the hub to make  a huge impact on the country’s industrial sector, leading to many digital start-ups blossoming.

    He said there was a need to enhance small businesses’ potential and help them create more jobs and induce sustainable and inclusive growth.

    He  finds it  easy to transfer learning from one venture and build on  networks of clients to gain a headstart in a fiercely competitive market.

    For him, Nigeria is underpinned by an attitude and healthy creative tension, which forces a fusion of talent and innovation.

    He wants to be counted among young Nigerians who are building solutions that will contribute to help the country to be recognised internationally as a tech city.

  • Making a living from fish processing

    A graduate of the University of Agriculture, Makurdi, Benue State, is practising what he studied in school: Fish processing, DANIEL ESSIET reports.

    After Uloko Caleb received his degree from the University of Agriculture, Makurdi. Benue  State, where he studied Fisheries and Aquaculture, he made up his mind that he was not going to work for anybody.

    He said: “I always knew from the start that I wanted my own business. I started seeing reasons that complaining never yield positive results; therefore, with my experiences and the knowledge I obtained from the university, I conceived the idea of going into fish processing and packaging.”

    His training exposed him to value addition to fish and fishery products. He knew what an entrepreneur needs to prepare various fish products to increase consumer appeal, enhance income and improve livelihood.

    He set out to establish a small fish processing business. He saw a market for it with increasing business opportunities.

    He said: “I chose fish processing to fish production because of inadequate fund to build ponds, install and sink borehole in order to have sufficient water. Therefore, I decided to start small, by going into fish processing with the little capital at my disposal.”

    One thing he learnt was that fish is a highly perishable commodity, which requires proper handling, processing and distribution if it is to be utilised in a cost-effective and efficient way. The other thing is various value added products can be prepared out of fish without much investment. Although the demand for such kind of products is huge, he realised a lot of entrepreneurs don’t venture much into entrepreneurship of value added fishery products, due to lack of skills and marketing opportunities.

    Last year, Caleb  started with the construction of the shade and working area cost; bought a smoking kiln with gas cylinder. He bought some table-size catfish from fish farmers for processing and drying.

    The business he started small is worth over a N1 million. From the profits he made, Caleb installed  fish ponds.Today, he  does fish production alongside fish processing.

    Earlier, he encountered some challenges. He  explained: “The first was my target market. I intend to sell my product at wholesale price for quick returns, but due to competition from other suppliers, who sold at lower rates as a result of their lower standard of processing, I found it difficult to break even. What I decided was to sell at shopping malls, hotels and restaurants.

    Also, raising my own fish before drying was only the best alternative.  Secondly, sizes of fish has various drying periods. Larger fish take longer period to dry than small ones. Mixing them during smoking and drying will not get them done uniformly. With this experience and observations, I have been grading them to size whenever I want to process fish.”

    His  success, in part, is tied to tireless networking. He keeps  learning.

    He derives satifaction from customers’. He is happy with what he has  accomplished so far.

    Caleb is happy he has been able to earn double of what he invested within a short time.

    He added: “Satisfying customer demands will make most business owners proud. I am so proud because I am a beneficiary of double earnings from my business. Meeting up my customers’needs is always achieved. My greatest desire is to be greater than who I am.

    “In 10 years, my business will be making at least N350,000 monthly. Exporting my products, too, to countries where they are needed will also be achieved. In 20 years, my business will have a life of its own; with that, I don’t have to keep monitoring all the time. It will have a standard organisational structure where everything will work in system.”

  • ‘I’m redefining African fashion’

    Kenneth Ize , a local fashion designer, puts in so much energy in his works.

    Speaking on how he makes a busy schedule work by enthusiastically embracing multi-tasking, he told CNN Style: “As a younger brand and as a millennial, I am in the space to do more things … and not have anybody (telling me) how to do it. The actual beauty people can see in the work is (because) we have freedom to create what we want to create. And the whole point for me is about being really real.”

    Ize explained the importance of authenticity and heritage to his work, including him modernising the ancient craft of Aso Oke handweaving, a technique developed by the Yoruba people of the Southwest.

    He describes his hopes for the craft to be taught more widely: “The goal  is to actually bring weaving into the  school curriculum… But we also want to train adults, so we are building a site in Ilorin, as I want people to be able to come to my home country and learn something.”

    On the benefits of educational and cultural exchanges, with his experience of studying at Vienna’s Institute of Design, and the need for more diversity in fashion, he said: “At the same time, we are teaching people … we are shifting the narrative.” He  highlighted the importance of his garments to demonstrate “the stories that we as Nigerians have to tell.”

    Citing the experiences and stories from Nigeria influencing his designs, he explained the narrative behind his latest men’s collection.

    He said: “For this season’s menswear, it’s a story about what happens after Christmas, a time when our parents — I mean the privileged ones — gave us pocket money, so there are new coats in the wardrobe.”

    CNN Style highlights that for lots of his customers, Ize’s clothes might be their first engagement with high-fashion made in Africa, which, as a continent, has long been excluded from conversations about luxury.

    Ize said: “I believe I am a professional in this industry and I force myself to do more each season … I am telling the international audience it’s possible here.”

  • OPPO Mobile opens Lagos service centre

    OPPO Nigeria has opened  a new service centre in Ikeja, Lagos to serve its customers all over the country.

    This new facility complements the  after-sales structure in every state  where OPPO smartphones are sold.

    The new centre provides extra support on OPPO products, original accessories and, most importantly, guarantees 48 hours of repair for all OPPO devices.

    The centre is equipped with tools, equipment, facilities and expert engineers to troubleshoot and repair any OPPO device sold in the country. Software support can also be offered customers who bought OPPO phones long before the brand started business in the country, whether the model is sold or not.

    Its Public Relations Manager, Joseph Adeola,  said: “The opening of our world-class service centre in Lagos signals our intent in the market. OPPO is here to stay and Nigeria is a very important market for us. We want to build the confidence of Nigerians in OPPO that they can purchase any of our products without fear of what happens next if any issues occur with their smartphone.

    ‘’This step is only the beginning for OPPO in Nigeria as we look to set the standard for what after-sales should be like in Nigeria, following the same standards acceptable in Europe, Asia and other extremely advanced markets.”

  • Innovation key to succeed as entrepreneur – Adebowale Zainab

    Innovation key to succeed as entrepreneur – Adebowale Zainab

    Our Reporter

    Adebowale Zainab, founder of Glowessence Skincare brand believes it takes being innovative to thrive in the Nigerian business terrain.

    According to the astute entrepreneur: “When it comes to doing business in Nigeria one has to be innovative and dynamic. Because Nigerian business terrain keeps changing, one needs to adapt to the change in order not to be left behind.

    “In addition, you need to develop a thick skin if you desire to succeed doing business in Nigeria. Things won’t always work out according to your plan. You must stay persistent and have an unshakeable faith in your brand”.

    Sharing the inspiration behind the name of her company, the bubbly skincare expert said: ” Glowessence Skincare was crafted out of my belief in making our customers glow which is my essence. Anyone who comes in contact with our skincare products will have positive feedback”.

    Going down memory lane, Adebowale shared some of the challenges she experienced when she started her Glowessence Skincare business.

    “When one is just starting out in business it takes time for customers to believe in one’s expertise. That was the challenge I encountered. However, I was able to win the trust of my customers through excellence service delivery”

  • Life Lager wraps up 2019 edition of Hi-Life Fest

    Life Lager, the beer brand renowned for celebrating the culture of the South East people has added another landmark achievement to its growing list of successful consumer engagements.

    The 2019 edition of Hi-Life Fest, which is proudly sponsored by Life Lager, was concluded last week.

    The competition, which is in its third year, has been a huge success with various regional knockouts across the south-eastern parts of the country. The search for the next Hi-Life king saw Life Lager head  to cities such as Awka, Asaba, Onitsha, Enugu, and Port-Harcourt. After two months of exciting musical events across these cites, four finalists emerged and competed at the grand finale in Onitsha.

    The judges included actor/singer – David Jones David, renowned dance instructor – Dr. Jude Akaz, highlife legend – Bright Chimezie, and Nigerian music icon – Onyeka Onwenu.

    After a keenly contested showpiece, Chijioke Charles emerged as the winner of the singing category and Ofu Obi Dance Troupe won in the dance category. They were given cheques.

    Expressing his excitement Chijioke Charles  said  “I dedicate this win to God, my family and everyone who supported me, I am lost for words. This is definitely the happiest day of my life and I am so grateful to Life Lager”

    The  Portfolio Manager – Mainstream Brands Nigerian Breweries Plc., Omotunde Adenusi, pontificated on the success of the competition. – “Life Lager is all about progress. Giving these talented acts a platform to showcase their talents has been a thing of joy for us. We believe everyone who has been on this show is a winner and we look forward to seeing how they progress in their careers. We also thank our loyal consumers for constantly coming out to support our contestants, we have thoroughly enjoyed sharing these nights with our consumers and they can expect more of these in the coming years.”

    This finale capped off 12 weeks of sensational music shows across south-east Nigeria. Some of the finest entertainers in Nigeria, such as KCEE, Onyeka Onwenu and Phyno graced the stage with electrifying  performances.