Tag: Africa

  • Africa loses $774m to illegal tobacco trade

    British American Tobacco Nigeria (BATN) has spoken of  the need for greater understanding of the illegal tobacco trade, the criminals behind it and the need for greater cooperation to fight it.

    This call came as part of a new campaign, developed by BATN, to raise awareness of the facts around the illegal tobacco trade to coincide with the WHO’s World No Tobacco Day

    Legal and  External Affairs Director, Nigeria, Freddy Messanvi said the impact of illegal tobacco may not be felt as immediately and directly as other crimes, but the consequences are very real.

    “By some estimates, illegal tobacco costs governments around the world $40-$50 billion each year in unpaid tobacco taxes.

    “In West Africa, it is estimated to cost about $774 million to governments across the region. Coming closer to home, in Nigeria this implies that illicit activities attributes to the shortfall in government revenue from tobacco sales by an underestimation of  over N216 billion paid in taxes to the Nigerian government which could have been higher.  A crucial fact to also note is that sales of illegal tobacco have been reported to fund human trafficking, drug and arms trades as well as terrorist organisations activities globally, “ he said.

    Messanvi said British American Tobacco Nigeria has been operating here since 2003, adding that in the 15 years of  the company’s operations in Nigeria, it has shown commitment to the Memorandum of Understanding (MOU) signed with the Nigerian government to regularise the tobacco sector, support sustainable Foreign Direct Investments (FDI) and contribute to socio- economic development in Nigeria.

    “Our partnerships with government agencies have yielded a significant reduction in incidence of illicit tobacco products in Nigeria with a reduction from about 80 per cent  share of market when we first came in to less than 20 per cent  as at 2015, thereby supporting the reclaiming of government revenue lost through illegal tobacco marketing channels.

    “Though a significant achievement, we believe there is still work to be done in this area.

    “The amount of illegal tobacco is much more significant than is generally realised: an estimated 400-600 billion cigarettes, the equivalent of approximately 10 to 12% of world consumption globally and in West Africa about 60 billion cigarettes which is about 10% of the global illicit trade. It is a transnational, multi-faceted issue and one that requires a collaborative approach, from governments and law enforcement agencies with whom we work in partnership to retailers and customers who can arm themselves with the facts, to tackle it.”

     

  • Guinness unveils Africa’s largest drum

    Guinness unveils Africa’s largest drum

    Guinness Nigeria Plc has unveiled the largest drum whose measurement was put at 22ftx25ft by team comprising Alexander Forbes actuaries and Billings Cost &Associates.

    The drum called “Orijinal” drum, according to the team, is the largest ever built in Africa.

    Though is meant to activate Guinness Orijin brand, the brand owner said at an event in Lagos, that the Orijinal drum, a cultural icon, is an extension of the Orijin ideology of celebrating the African culture.

    The brand recently received the endorsement of some monarchs  as the drink for Africans. The drum located at the National Art Theatre, Iganmu Lagos, distinctly stands at a vantage point.

    The  Portfolio Director, Larger and RTD, Guinness Nigeria Plc, Ms. Eyitemi Taire, said: “The largest African drum is another landmark in our journey as a business and eulogising Orijin as the original drink for Africans.

    “A drum announces the presence of the royals and the revered; it represents everything African. It is the single identifier that cuts across all African cultures. It represents the vibrancy, energy, uniqueness, and interconnectivity of Africans which perfectly reflects the essentials of the brand’s originality.”

    She continued: “We recognise the value of our culture and will do everything possible to keep our heritage. Orijin connects with our people at this level just in the same way a drum connects. Where ever there is a drum there is celebration. And wherever there is celebration, you can be sure there is Orijin, the drink of tradition.

    “This drum we justunveiled is a representative of both traditional and modern cultures that abide in Africa. We have high hopes that this drum will stand as an inspiration to Orijin lovers nationwide.We are proud of our achievement here today. The drum is clearly the largest and that underscores the ingenuity of Africans.’’

    The Ojora of Ijora of Lagos, Oba Abdulfatai Ojora, who was represented by Chief Joseph Ogunmola, praised Guinness for producing Orijin.

    On the drum, Chief Ogunmola said: “The drum represents our vibrancy as Africans. It is an important part of our cultural heritage. This largest drum in Africa is a great innovation from Guinness Nigeria and we thank them for showcasing and taking our culture to the next level”.

    Reassuring consumers of quality, Taire said the production of Orijin attests to Guinness Nigeria’s leadership position in innovations in the alcoholic beverage industry.

    “The company’s track record on product innovation in the past eight years has been very impressive. The advent of Orijin into the market is a result of thought leadership by Guinness Nigeria. As a company, we are continually looking for new ways to satisfy our consumers and Orijin is another attestation to this resolve. We have been in the forefront of innovation, particularly now with the largest drum in Africa. We encourage all our consumers to enjoy their Orijin responsibly always, she added.

    The event was spiced with performances from Orijin brand ambassador Reminisce, Hip hop artiste Faze and R n B crooner Kola Soul.

    Aduni and the NERFITITI also gave the audience the folklore with her melodious voice.

    Orijin is a blend of African fruits and herbs flavours mixed with alcohol to give a refreshing bitter sweet taste.

  • Africa contributes 1.5% to global insurance premium

    African contribution to the world insurance gross premium is only 1.5 per cent, President, African Insurance Organiation (AIO), Jean-Baptistery Ntukamazina, has said.

    Speaking yesterday at the ongoing 42nd Conference and General Assembly of the African Insurance Organistion (AIO) in Tunisia, he said conflicts in Africa have cost continent billions of dollars.

    This year’s conference with over 1000 delegates in attendance has African insurance facing mass events as its theme.

    Ntukamazina lamented that a report by Oxfam compared African countries afflicted by conflict with those at peace, saying nations at war have, on the average, 50 per cent more infant mortality rate; 15 per cent more undernourished people and life expectancy reduced by five years while indirect deaths are 14 times higher than deaths in countries in combat.

    The research by Oxfam, Saferworld and the International Action Network on Small Arms, estimates that conflict shrinks economies by 15 per cent on average.

    The AIO chief said insurers are important actors of Africa’s economy.

    He said: “We all know that mass events are serious threat on economic activity; we know how wars and violent conflicts create inflation, increase debts, reduce investment, cause unemployment along with thousands of innocent victims. This serves to say this year’s theme of the conference is accurate and timely.

    “But, for our different economies to prosper, we need favourable political environment, security and good governance. That is why our political leaders should understand that the prosperity of their different nations is among their first responsibility. The promising Africa cannot arise without peace, security and good governance.”

    According to him, Africa attracts unusual interest from abroad, adding that the future is promising.

    He said resources boom and economic growth, industrialisation, infrastructure development, rapid urbanisation, rising employment levels, demographic, social change, technology, environmental change, regulatory change and hopefully political stability are factors that would drive the future of the continent.

    He said Africa has one-third of global mineral reserves and represents one tenth of the global oil reserves, two-thirds of the world’s diamonds produced

    He also said 27 per cent of the world’s arable lands is in Africa and 60 per cent of the world’s uncultivated arable lands is in the continent.

    Based on this scenario, he said insurers must take advantage of the opportunities and benefit from the growth in various sectors because the predicted positive changes of African economies will impact on healthcare services, housing and urban infrastructure, protection of assets and increased savings, among others.

    These are the opportunities we have to tap into by proposing new products, increasing insurance penetration, improving distribution techniques and cost-cutting. He said because the profession is risk-taking, professionals can boost, push and support other businesses by mitigating their risks and hence ameliorate the lives of our populations.

  • Fun as Orijin launches Africa’s biggest drum

    Fun as Orijin launches Africa’s biggest drum

    It was fun all the way as Orijin unveiled Africa’s biggest drum. The event which took place at the national theatre, Iganmu, Lagos drew a lot of entertainers as well as fans of the alcoholic herb drink.

    Orijin ambassador Reminisce was on hand to thrill fans who savoured his indigenous Yoruba raps.

    Folklore cultural group AdunniNerfititi, dance group, DNMT and in addition, Faze, a third of the defunct hip hop group PlantashunBoiz, was also on ground to serenade the audience. Seyi Law and Jimmie also entertained fans who had the opportunity to sign autographs.

    Orijin, brewed by Guinness Nigeria, prides itself in contributing to the Nigerian culture.

  • Africa: Once upon a continent

    You can’t hate the roots of a tree and not hate the tree. You can’t hate Africa and not hate yourself – Malcolm X

    Today, Monday May 25 is Africa Day! What then about it when a billion Africans worldwide in 2015 muddle through without African consciousness? We have all the structures: Africa Union, (AU), African parliament ad ifinitum but we lack the real thing that would drive the African institutions, African consciousness. How many Africans remember Africa (Liberation) day? It’s time we reinvented pan-Africanism with a demand for a continent-wide obligatory observance of Africa Day. We must promote the education and consciousness about African Renaissance! On May 8, every year, Europeans in unison pause (with public holidays!) to mark the Victory over Nazi Germany’s aggression and oppression in Europe during the Second World War. Sixty million people (including thousands of Africans) reportedly died during the Hitler’s war of attrition. But lest we forget; as many as some 100 million African lives were lost to 19th century European brutal colonial terrorism and

    300 years of the transatlantic slave trade earlier! Younger Africans must be aware of the enormous sacrifices of the founding fathers who through resistance and nationalism fought for African liberation. Otherwise we lose them permanently to complacency and complicity that may nourish a repeat of the tragic history of enslavement and colonization. No thanks to loss of memory, Africa is sliding back into primitive tribal wars (witness South-Sudan), xenophobia, crude and violent tribalism (ala South Africa), ethno- religious wars (Nigeria’s Boko Haram and Central Africa Republic). These mutually destructive war-types in the past undermined African communities before the colonial predators came calling. Modern-day visa lotteries and serial Mediterranean tragedies with boats carrying thousands of African migrant workers sinking underscore the truism that lack of memory ruins a continent.

    Dr. Nkosazana Dlamini Zuma, the chairperson of the African Union Commission must bring some renewed energy and pro-active activism into the Africa Union (AU) secretariat if Africa must matter in a globalized world. I searched in vain for the 2015 theme of an anniversary of the Africa Day. One recalls an OAU of Togo’s Edem Kodjo (1978 – 1983), Nigeria’s Dr. Peter U. Onu (1983 – 19 85) and Tanzania’s Dr Salim Ahmed Salim (1989 – 2001). OAU commendably offered Africa the needed leadership in the struggle against apartheid in South Africa and last vestiges of colonialism in Zimbabwe, Namibia and Angola. Nigeria is better positioned by its chequered history in the struggle for African liberation to lead a renewed pan-Africanism. But that is if its outgoing leaders halt the last minute reported criminal scramble for “take away” of the commonwealth.  Or better still, if the incoming ruling party officials stop agonizing over sharing (as distinct from

    production) formula based on their zones, regions, villages and clans. On assumption of office this weekend, President-elect General Muhammadu Buhari must definitely act local to re-fix Nigeria. He must however with equal energy think and act African and indeed global. General Murtala Muhammed almost single-handedly roused Africa to action over southern African liberation with the famous Africa-has-come-of-age speech. Africa today begs for quotable leaders! We need self-reliance. If poorer Africa built OAU Secretariat independently, why would Africa with triple figure GDP rely on China to remodel AU secretariat years after? Contemporary Africa parades big chieftains, with their wives, wealth and power but little vision, idealism and love of the continent. Africa Day raises the nostalgia of eminent great African statesmen like Dr Kwame Nkrumah, Dr Nnamdi Azikwe, Tafawa Balewa, Sekou Toure, Murtala Muhammed, Samora Machel, Amilcal Cabral, Thomas Sankara,

    Nelson Mandela  and non-state pan Africanists like Mariam Makeba, Ngugi Ngig) wa Thiong’o, Fela Anikulapo Kuti, my late dear friend and pan-Africanist, Dr Tajudeen Abdulraheem who died on Africa Day in a tragic accident in Nairobi six years ago.

    At the founding of Organisation of African Unity (OAU) in 1963, Nkrumah rightly observed that independence “is only the prelude to a new and more involved struggle for the right to conduct our own economic and social affairs”. IMF and World Bank taunt Africa as an emerging market with alluring growth rate of seven per cent. But market for whose goods?  In the 70s, Fela Anikulapo-Kuti sang and enjoined us to “Buy Africa”.  Apart from South Africa, which accounts for 27.3 percent of the subcontinent’s total Manufacturing Value Added, the whole continent is littered with smuggled, second hand and imported goods from Europe and China. Nigeria scandalously exports crude and imports refined petroleum products. It’s time to Make-in-Africa, add value to the abundant raw materials, and create jobs for the youths. Africa should be the value addition and beneficiation/job destinations – impossible without electric power. In 1963, Nkrumah had noted that “Our continent ….exceeds all the (other continents)  in potential hydroelectric power, which some experts assess as 42% of the world’s total”. Fifty years after, Africa economy groans under the weight of power poverty.. We cannot drive industrialization with power outages in Accra, Lagos or Johannesburg!

    Fifty-four heads of government Africa are almost thrice heads of government that make up the Euro zone of 19 countries. European Union, (EU) remains unapologetically insular, tightening immigration laws by the day. Recently its leaders said they would “destroy boats used by smugglers to bring migrants across the Mediterranean”. Indeed the EU is set to present a resolution to the UN Security Council to that effect. No voice so far is heard from the continent whose territorial waters are now an arena of gun-boat diplomacy. Who then speaks for Africa?  Some 29 billionaires in Africa are distributed almost between Nigeria and South Africa. Yet the two countries harbour as many as 100 million poor! We must urgently compliment the well-being of the few with the total well-being of all Africans. The challenges of production and distribution in Africa call for bigger economy of scale which is only possible with economic integration and United States of Africa!

    Again Nkrumah saw it all earlier: “Our objective is African union now. There is no time to waste. We must unite now or perish”. The Maastricht Treaty which established European Union was signed on November 1, 1993, 30 years after OAU was formed by far sighted philosopher-leaders – kings of Africa. EU today exhibits robust common big market and common citizenship. What is good for Europe has long been envisioned by African founding fathers. Let’s realise the vision. Happy Africa Day.

     

    • Aremu, mni, is Secertary-General, Alumni Association of the National Institute, AANI, Kuru Jos.

  • In search of African avatars

    In search of African avatars

    (Why the Third World is the lost world)

    With the dramatic ascendancy of General Mohammadu Buhari in the Nigerian presidential sweepstakes and the restoration of electoral normalcy in a larger chunk of the nation, it has become fashionable to dream again about the possibilities for Nigeria in particular and the lost continent of Africa as a whole.

    As this column keeps hinting, the omens about the Buhari administration itself are still not very clear. While some encouraging signals are coming from the retired general and former military autocrat, the incoming administration appears swamped and besieged by some deadwood and dinosaurs from the old order who are bent on stamping their accursed imprimatur on what should be a new beginning for Nigeria.

    From the old volatile west, there have been some rumblings. Some starry-eyed idealists in league with cynical revanchists of the defeated ancien regime are dropping the heavy hints that the dominant political group in the west has sold the Yoruba nation to the Hausa and Fulani feudal oligarchy. It is alleged that a frenzied and wholesale northernization of the power apparatus is proceeding apace while ambitious and perfidious lieutenants of the man known as the Lion of Bourdillon are sharpening their knives for an inevitable confrontation.

    Some of these political anxieties are worthy of analytical consideration. In and out of power, it is normal for any cohesive and organic power formation to bind and bond together. This resilience which comes from strong feudal ties and alliances and the superior capacity to organize itself and disorganize others as the occasion warrants is the secret and source of the strength of the old north. Once it identifies its interests, no other power formations in the nation comes close to the north in projecting and protecting its own.

    Be that as it may, it will be very foolish and strategically shortsighted in post-military Nigeria for any power formation however dominant to imagine that it can impose its will and political eccentricities on the rest of the nation. Nigeria can never return to that past. Those who believe that this is still possible after Abiola and Abacha as well as those who raise the bogey of renewed ethnic domination are merely incapable of dialectical reasoning in all its rigorously paradoxical possibilities.

    Rather than pointing at the inevitability of renewed ethnic domination, the political resurgence of General Buhari merely points at the ineluctability of a new beginning. Until things finally fell into place, the general had been at it for quite some time without any possibility of success even as his adversaries actually imagined that they had seen the last of the old warrior from Daura. While the block voting from the core north certainly helped, it was the explosion in national consciousness and the dramatic expansion of public space and the global means of communication and public enlightenment that set the pace.

    This is why this morning, this columnist solemnly appeals to the general not to allow himself to be captured by ethnic hawks and other tale bearers. The general should see himself as a product of a national upheaval, a pan-Nigerian coalition against evil governance and authoritarian misrule represented by the outgoing PDP government. If by any chance, Buhari is unable to fulfill his destiny as the man to lead Nigeria out of the wood, such is the current political ferment in the nation that many rival claimants would be thrown up by the crucible of contradictions.

    One of the key areas that must command General Buhari’s attention is indigenous knowledge production. Buhari will be the recipient of a thousand papers about how to reform and revamp our educational system but all this will come to naught if there is no fundamental capacity building attempt to indigenize our knowledge system. This is the key to all successful societies and nations from the western powers, China, Japan, India, the Asian Tigers and the advanced societies of the world.

    The largest chunk of the Third World is powerless and backward and will continue to be powerless and backward because it lacks the production of organic and indigenous knowledge to power its political, economic and technological development. Yet, the very notion of a huge chunk of Africa and some parts of Asia and Latin America as the Third World is steeped in remarkable ironies.

    Before it became a veritable and enduring marker of backwardness and underdevelopment, it was the radical and progressive leaders of these countries such as Pandit Jawaharlal Nehru and Surkarno who proposed the term at the Bandung conference as a way of distinguishing countries within their spheres of authority which pursued a middle road policy of mixed economy as against capitalist and socialist countries which belong to the first and second worlds respectively.

    Yet after the collapse of the Second World and actually existing socialist countries, one would have thought the term Third World would itself disappear, but it has clung to these countries like an ugly limpet. The fact is that if knowledge is power, the production of knowledge is the production of power. Those societies that cannot produce organic and authentic knowledge will only produce powerlessness and utter poverty. This is because poverty of knowledge cannot lead to knowledge of poverty.

    This poverty of knowledge is at the roots of Nigeria’s abysmal poverty and its continuous production of powerlessness in all its dimensions and ramifications despite outlandish oil riches. Unfortunately as the dismal career of our current economic witchdoctor, Ngozi Okonjo Iweala, attests to, and as the large scale looting of our national patrimony and the utter ruination of economy confirms, you cannot redeem poverty of knowledge or gain knowledge of poverty by importing clever examinees from Harvard and other western citadels and sanctuaries of knowledge and power production. They will simply chew the cuds.

    Unless they retool themselves or readapt their analytical skills, Harvard products must reproduce Harvard productions. These glorious citadels of western knowledge and learning and their productions are not meant for the easy consumption of non-western societies. They were not established to help Africa solve its spiritual, economic or political problems.

    Knowledge and power production is not a charity ball. Every society must lift itself up by the bootstraps. Establishing ascendancy in human society is not a tea party. In the brutal and unremitting battle of knowledge production and its concomitant production of power, human societies without organic capacity for indigenous knowledge production must fall by the way side.

    But you do not have to reinvent the wheel. The evolution of human society is marked and characterized by cross-fertilization of ideas with insights from one society or civilization acting as prodding insight for other human communions. Western knowledge production benefitted a lot from Arabic sciences which arguably took its impetus from Egyptian civilization.

    The infusion of philosophical ideals and injection of scientific knowledge which allowed the West to overcome the Dark Age came largely from intellectuals, scientists and philosophers fleeing the fall of Constantinople to the Ottoman Turks. When a set of ideas is forcibly imposed on other societies such as we found in Western colonization, it is the equivalent of epistemological rape.

    Yet rape victims often survive to play first violin. It is only in Africa that they appear unwilling to do so. Let us look at the career of two of the Third World avatars who made momentous contributions to springing their respective societies from western knowledge-trap. Although a Cambridge graduate, the late Lee Kuan Yew related to western ideas with considerable aplomb. He was not averse to cocking a snook at western civilization or sneering at what he considered its dubieties. As far as he was concerned Singapore is not America or England.

    He once confessed to an interviewer that his greatest luck was that he was able to identify other colleagues who had the intellectual confidence and self-assurance to take apart any western concept or idea and then see how it can be adapted or discarded in accordance to the Singaporean reality.

    With that, he was able to boost the indigenous knowledge production which transformed Singapore from a Third World colonial backwater to gleaming and glittering First World in one generation. It may help to recall that Yew was of ethnic Chinese stock. The Chinese often view western arrogance with the sublime contempt of the bearers of an older human order.

    The other avatar is our own Obafemi Awolowo. Although a private student, Awolowo gained a degree in commerce in addition to his legal qualification. Yet through sheer mental discipline and extraordinary willpower, he was able to acquire a formidable knowledge of western society and institutions and by leveraging the insights gained, he acquired knowledge of a former colonial dominion which remains unmatched in its penetrating acuity and originality.

    When Awolowo applied the knowledge acquired to his Yoruba people, he was able to frog march them to the frontiers of western modernity within a momentous decade. In terms of knowledge production and political consciousness, this epochal boost has placed the western region of Nigeria at the cutting edge of political sophistication and intellectual awareness. Perhaps the best compliment the west could pay to Awo was when a British prime minister described him as belonging to the first rank of administrators anywhere in the world.

    Yet it needs to be stated that there is nothing preordained and inevitable about the ascendancy and triumph of western modernity over its other rivals. It was a function of random contingency, geography and the spectacular role sheer luck often plays in human and societal affair.

    By the end of the tenth century China was the leading empire-nation in the world with its ocean-going liners and their fabled mastheads described by spellbound observers as huge clouds unfurling in the skies going as far as the port of Mombasa in contemporary Kenya. Artifacts recovered in that ancient port suggested Chinese presence dating back to the seventh century.

    By the beginning of the twelfth century, Portugal had emerged as the first truly modern nation-state. But it was precisely at this point that the Chinese mandarinate became embroiled in a murderous power struggle with the feudal dynasty over the destiny of the nation which led to China being closed off to the outside world for centuries.

    By the time the veil was lifted, the world had moved on. In the case of the Portuguese, geography and location led the intrepid sailor, Vasco da Gama and his successors, towards Africa and India rather than towards Latin America and its vast riches and vaster colonial possibilities.

    Even then, the race to full western modernity was a ding-dong affair among western nations, with Portugal yielding ascendancy to Spain and with Holland economically trumping the Spaniards barely sixty years after gaining independence. England completed the military and economic rout of the early colonial powers only for England in turn to be militarily and economically shellacked by the emergent American superpower. In all these struggles for ascendancy, it is the nation with superior knowledge that always prevailed.

    If it is of any comfort, we might as well add things have not always been this bleak and dreary in Africa. When the Portuguese adventurers arrived in the old Kongo Kingdom around present day Angola, they met a society vastly superior in organization and cohesion to the one they left behind at home. They loitered around listlessly a bit, hoping to encounter the mighty army which underwrote this might empire.

    Alas, there was no army, only a loosely coordinated and rudimentary fighting force not much better than a hunting pack. The emperor had no clothes on. The Portuguese could not believe their luck. They then proceeded to sack the empire with clinical cruelty. In the next few decades almost all the surviving inhabitants were captured and transported as slaves to the new colony of Brazil through the new slave port of Luanda.

    The lesson to be learnt from all these encounters is that knowledge matters and human capital is the driving agency behind all societal advances. It will take at least three decades and three generations of unbroken progressive leadership to reverse the damage done to Nigeria and its capacity to produce its own organic human capital. We will be lucky if the damage is not more fundamental and irreversible.

    It may well be the time to resume the search for African avatars all over again. Pandit Nehru once ordered that if India could not clothe itself, the proud nationals of the new country should go naked. Within a few years, India had achieved self-sufficiency in the production of apparels. Nehru was tapping into the subliminal pride of the people of an ancient empire. They would have recalled that Indians used to joke about the poor quality of western fabrics when western adventurers finally made it to the Indian subcontinent five hundred years earlier.

    At this critical point, Nigeria and Africa need leaders who will mend the broken spirit and resuscitate the collapsed morale of the founding continent and original cradle of mankind. This is the crucial significance of what appears to be a new beginning in Nigeria.

  • Africa has no thriving fish market

    Africa has no lucrative market, Prof Samuel Zelibe of the Delta State University (DELSU) in Abraka, has said. He was delivering the 42nd inaugural lecture of the university at its 1000-seater auditorium.

    Speaking on: Fish: The wealth in water, Zelibe said despite lack of an adequate regulatory and growth-promoting framework for aquaculture industry, the implementation of the Special Growth Enhancement Support scheme of the Federal Government for fisheries and aquaculture had helped to provide cheap seeds and fertilisers to small holder fish farmers.

    The scheme, he said, has also improved productivity in fertiliser value chain, observing that the absence of viable market for fish products was the constraint undermining efforts to boost the market.

    Zelibe, a professor of Fisheries and Aquaculture, said despite the huge water space the nation is endowed, importation of marine products thrived until when the government introduced the scheme to unlock the wealth in the nation’s waters.

    He said despite having over 600 species of edible fish, Nigeria was yet to explore its ornamental fishes that could fetch it a huge income.

    Zelibe said the country did not have sustainable professional support scheme that could enable youths practice fishing profitably and boost self-employment.

    He advocated the need for policies to make aquaculture sector vibrant to make the country dominate fish market in Africa.

  • Experts to discuss development in Africa

    Renowned experts of African origin will converge on Lagos at a roundtable conference to generate concrete and innovative recommendations on how  right to development (RTD) can be optimised in Africa.

    The Acting Dean, Faculty of Law, University of Lagos, Prof. Peter Fogam, who spoke yesterday at a news conference held at the faculty’s conference room said the experts were drawn from various field including public international law, international human rights law and development and international and multi-disciplinary dimension.

    He said they would look into the current efforts of the United Nations Office of the High Commissioner for Human Rights on the revitalisation of the RTD.

    He said the event would hold at the 3rd African International Economic Law Network Biennial Conference to be hosted by The Centre for Human Rights, Faculty of Law, Universirt of Lagos on  April 29 and 30 and at which Lagos State Governor Raji  Fashola (SAN) has been scheduled to deliver the key note address. The conference has as its theme, “Role of International Economic Law in African Development”.

  • Tackling security challenges in Africa

    A political scientist and journalist Tunde Eso who released his new book, Africa in Security Solution in Lagos speaks on solutions to issues of insecurity in Africa with Olasinde Toyin.

    Africa is faced with series of security challenges at present, which many believe there is no end to it. But it is re-assuring to note that a number of people still believe solutions to many of these challenges are not as distant as they seem. Such people believe that if every individual especially the leaders do the right thing, the story will be a lot better.

    One of such fellows is Tunde Eso a political scientist and journalist who believes that he has a message to pass across to all and sundry especially those in authority. The Osun state born graduate of Ife and publisher of Jubel magazine after a deep reflection on the issues of insecurity in Africa published a book that has solutions to the continent’s insecurity.

    According to him, the book is a practical discussion offering solutions in a pragmatic approach to everyday social, economic, political and developmental issues plaguing Africa. These same issues and inequalities are the very foundation causing insecurity in the continent.

    The 58-page book described as a framework for African leaders is on how to put to an end the series of security problems is a wake-up call to all African leaders to look at the fundamental issues and address them.

    On why he embarked on the mission, Eso who said that the materials have been ready for years disclosed that he decided to publish the book after he was attacked by hoodlums for no cause. According to him, after the attack he saw the need to bring out something so that if the leaders adhere to it Africa will be a safe place.

    He noted that the book highlights some of the causes of insecurity in Africa especially Nigeria and the ways in which the government can manage the youths. He identified hunger and poverty as the greatest causes of insecurity and therefore called on government to address them. Some of the ways to address that he said, include the provision of electricity.

    “Nigeria has been battling with it for years but if they will provide regular power, many youths will be gainfully employed and the rate of crime will reduce,” he added.

    According to him, other issues highlighted are the need for government to provide free education for the youths at all levels, noting that the people of old who incidentally are some of the leaders today benefited from such scholarship scheme. Also, he said that there is the need for the involvement of youths in policy making and the participation of youths in elections and vote wisely.

    On why he published it outside Nigeria, Eso said that it was done so that it can be distributed all over the world. The book is a good compendium for Africans and world leaders who are interested in peace and progress of humanity and not just Africa alone. African Security Solution was presented and published in March, 2013 in Lagos.

  • Shareholders approve Africa Prudential Registrars’ N700m dividends

    Shareholders approve Africa Prudential Registrars’ N700m dividends

    Africa Prudential Registrars (APR) Plc would today distribute N700 million as cash dividends to shareholders following the approval of the dividend recommendation at the annual general meeting (AGM) of the company.

    APR, Nigeria’s first and only share registration company listed on the Nigerian Stock Exchange (NSE), would pay a dividend per share of 35 kobo to all shareholders. The payment of the dividend will be made tomorrow to all shareholders on the register of members of the company as at the qualifying date of March 17 this year.

    Addressing shareholders at the meeting, its chairman, Chief  Eniola Fadayomi said APR’s dividend policy is aimed at rewarding shareholders by increasing their wealth and consistency.

    She said though market performance in the first half of the year showed momentary positive runs, the second half was far less impressive, pointing out that in spite of the inclement operating environment, the company recorded significant gains when compared to the previous year.

    Its Managing Director, Mr. Peter Ashade, reassured that the company remains true to its goal of becoming the leading and dominant provider of share registration services in Africa.

    “As a result, our focus for the year will be to continue to profitably grow our businesses while providing our clients and stakeholders with appropriate alternative solutions. We will strive to manage our operating costs by optimising our processes while concurrently improving the level of service delivery to our clients,” Ashade said.

    Key extracts of the audited report and accounts of the company showed steady growths in all key performance indicators. Gross earnings rose from N1.85 billion in 2013 to N2.11 billion in 2014. Profit before tax also rose from N1.21 billion to N1.30 billion. After taxes, net profit stood at N1.22 billion in 2014 as against N914.46 million in 2013. Earnings per share showed corresponding increase from 46 kobo in 2013 to 61 kobo in 2014.

    The balance sheet of the company also showed appreciable improvement. Total assets closed 2014 at N18.91 billion compared with N16.42 billion in 2013. Total liabilities meanwhile rose from N12.09 billion to N14.38 billion. Shareholders’ funds increased marginally from N4.33 billion to N4.53 billion.

    It would be recalled that APR equally paid a dividend per share of 35 Kobo to shareholders for the 2013 financial year, its first year as a listed company on the NSE.