Tag: boost

  • $21m boost for anti-Boko Haram war

    $21m boost for anti-Boko Haram war

    President Muhammadu Buhari has ordered the release of $21 million out of the $100 million pledged by Nigeria to the Multi National Joint Task Force against Boko Haram.

    Buhari announced this while chairing the African Union (AU), Peace and Security Council (PSC) meeting at the on-going AU summit in Johannesburg, South Africa.

    He said the order, which was in response to a decision by the leaders of the Lake Chad Basin Commission (LCBC) and Benin in Abuja to immediately fund the MNJTF with not less than $30 million, will be carried out this week.

    “The member countries of Lake Chad Basin Commission and Benin, met recently where far reaching decisions were taken to immediately put into operations the Multinational Joint Task Force.

    “To this end, the summit approved the immediate provision of $30 million for the Multinational Joint Task Force.

    “Consequently out of the pledge of $100 million which Nigeria made to the Multinational Joint Task Force, I have directed that $21 million be released within the next one week,’’ Buhari told the AU.

    He said he was pleased to note that Cameroon, Chad and Niger “are demonstrating of this support.

    “They are fighting alongside Nigeria under the umbrella of Multinational Joint Task Force to defeat Boko Haram.’’

    Buhari observed that the continent was inundated with crises of various forms which required urgent attention.

    “We are witnesses to the rampant destruction of homes, roads, communications lines, vital infrastructure and displacement of persons not to mention terrible loss of lives.

    “This is true I must add of the North-East of Nigeria where we are dealing with the scourge of Boko Haram.

    “The Boko Haram insurgency has extended its reach to Nigeria’s neighbours but is not necessarily limited to these immediate countries as terrorism is a global phenomenon with linkages across the globe.

    “Given this dimension of global terror it requires us to act accordingly in brotherhood and partnership to fight our common goals against agents of evil,’’ he said.

    The News Agency of Nigeria (NAN) recalls that at the LCBC meeting of Nigeria, Chad, Camerron and Niger with Republic of Benin, Buhari had asked the leaders to articulate their needs for onward delivery to the G7 group of industrialised nations.

    The request was based on the promise by the G7 to support Nigeria in the fight against terrorism when Buhari honoured the group’s invitation to attend its last Summit in Germany.

    The President urged African leaders to place the interests of their countries above narrow personal interests.

    The President noted that as the meeting of PSC focused on the situations of South Sudan and Burundi, it required the leaders to put the situations in both countries in proper context.

    “The people of these countries are suffering while their political leaders are bickering among themselves.

    “I believe that is incumbent upon us as leaders to always place the interest of our countries above narrow and personal interests.

    “It is therefore my expectation that at the end of this summit, the PSC will come out with a united message to call on all parties to act in the interest of their people and the entire continent,’’ Buhari charged.

    The Nigerian President added that the leaders must make deliberate efforts to “save the face of Africa, we must give hope to the hopeless.

    “The time to do so is now as we look forward on the march toward 2063 to deliver a continent that is at peace with itself, prosperous, a global partner and a democratic show case’’.

    Buhari noted that the continent was inundated with conflicts of diverse forms including the crises in Burkina Faso, Mali, Libya, Central Africa Republic, South Sudan, and more recently in Burundi.

    “As you are aware in 2013 during our 50th anniversary celebration of our union, we as African leaders committed ourselves to the objective of silencing the local guns in Africa by 2020.

    “With just five years remaining, the prospect of realising this objective looks doubtful,’’ Buhari noted.

  • Total Nigeria seeks new ways to boost growth

    •Shareholders get N3.8b dividends

    Total Nigeria Plc plans to step up its business diversification programme by investing further in solar power business while consolidating the safety and efficiency of the current business.

    Chairman, Total Nigeria Plc, Momar Nguer, told shareholders yesterday at the annual general meeting of the company in Lagos that Total Nigeria is constantly seeking new ways to expand its offerings and the company is currently implementing strategies to ensure that the company remains brand of reference and leading energy solutions provider.

    “We plan to increase the number of our solar powered stations this year by eight additional stations and will be introducing our offer of solar home system. The solar home system is a solar power driven energy solution for homes,” Nguer said.

    He said the company would be seeking to align its business and structures with the dictates of the environment in which it operates and through all these, create sustainable value for all the shareholders.

    Shareholders yesterday approved distribution of additional final dividend of N3.1 billion, bringing the company’s total dividend payout for the 2014 business year to N3.78 billion. The company had interim dividend of N679 million. Shareholders will receive a final dividend per share of N9, in addition to earlier interim dividend per share of N2, bringing total dividend per share to N11.

    Nguer said the 2014 business year was a year in which the company experienced several challenges and difficulties which affected her performance and operating results.

    Total Nigeria’s turnover increased slightly from N238.2 billion in 2013 to N240.6 billion. Profit before tax decreased from N8.1 billion to N5.5 billion. Profit after tax reduced by 17 per cent from N5.3 billion to N4.4 billion.

    He noted that interest expense was N2.6 billion, which was 32 per cent higher than the previous year mainly due to huge interests on borrowing as a result of unpaid sums under the Petroleum Subsidy Fund.

    Managing Director, Total Nigeria, Alexis Vovk, assured of better days ahead, saying that the board would continue to do things solely in the interest of the shareholders.

    Shareholders who spoke at the meeting commended the performance of the company. Shareholders who spoke at the meeting included Sir. Sunny Nwosu, National Coordinator, Independent Shareholders Association of Nigeria (ISAN) and Shehu Mikail, National President, Constance Shareholders Association of Nigeria.

  • How industries can boost agric value chain

    How industries can boost agric value chain

    Nigeria spends about N1.3 trillion yearly on food import. But a rethink in favour of using the industrial sector to enhance the agricultural value chain through private sector-led strategy holds promises of reversing the trend. Asst. Editor, OKWY IROEGBU-CHIKEZIE writes that the strategy, which encourages the involement of industries in storage, processing and export of agricultural raw materials to create jobs, enjoys the support of experts as well as the new administration of Muhammadu Buhari.

    Efforts at making agriculture more productive, efficient and competitive are on course. This time, the strategy is to find a way of riding on the back of the industrial sector to further enhacethe agricultural value chain. Essentially, the new rethink is in favour of encouraging  industries to be involved in areas such as storage, processing, and export of finished agric produce to create more jobs for Nigerians.

    To this end, experts and stakeholders in the agric and industrial sector are canvassing private sector-led strategy to boost the agric sector and make it a cash-cow for Nigeria. In doing so, they noted, for instance, that Nigeria has huge agricultural potential with over 84 million hectares of arable land, of which only 40 per cent is cultivated. Also, Nigeria’s estimated population of 170 million makes her Africa’s largest market. Besides, the country has some of the richest natural resources. Regrettably, the country has so far failed to properly harness these opportunities and derive benefits there from.

    However, a new dawn may be in the offing for the sector following renewed emphasis on private sector-led involvement in the agricultural value chain. The strategy is intended   to make  agriculture more productive, efficient and competitive through  improved food production for domestic food supply. It is also hoped that the strategy, which already enjoys the support of President Muhammadu Buhari, would help create more jobs along the agricultural value chain.

    At the 55th Annual Conference of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), in Calabar, Cross River State, recently, Buhari said agriculture must cease from being treated as a development programme but as a business.

    The President said the urgency of unlocking Africa’s agricultural potential is pertinent because Africa spends $35 billion yearly on food import, with Nigeria taking the lion share. The development, he said, boosts the economies of countries and continents where such food items are imported from, leaving African economies depleted. “Africa has no business being a food importing region. With over 65 per cent of the arable land left to feed the expected nine billion people in the world by 2050, Africa should become a net exporter of food,” he said, adding that the size of the agriculture and agri-business sector in Africa is expected to grow to $1trillion by 2030.

    He projected that Foreign Direct Investment (FDI) in agriculture in Africa will increase from $10billion in 2015 to $45billion in 2020.

    “To unlock this potential, we need to direct resources, both public and private, to agriculture, the sector which employs close to 80 per cent of Africans and accounts for about 40 per cent of the continent’s Gross Domestic Product (GDP),” he said.

    The president, who was represented by the Permanent Secretary, Federal Ministry of Mines and Steel Development, Alhaji Baba Umar Farouk, noted that a nation that does not feed itself becomes a threat to its sovereign existence.

    “Growing our own food, processing what we produce, becoming competitive in export markets, and creating jobs all across economy, are crucial for our national security,” he stated.

    The President added that as the nation drives a private sector-led agricultural transformation, government is also paying close attention to potential challenges, such as inequality and impact on small holders.

    According to him, there is need to embrace growth and make it work for farmers and rural communities.

    Hear him: “Agri-business, with their huge market pool and demand for raw materials for their factories can unlock the much needed market opportunities that have eluded farmers and expand jobs so crucial for the rising youth population in the rural areas as we have a policy that allows agri-businesses to have secure access to land, working closely with states, local government and communities. Such arrangements allow for transfer of technology, development of infrastructure, creation of market facilities, while unlocking shared prosperity between small holders and large commercial farmers.”

    Buhari regretted the ugly turn of events where Nigeria grew from being a major player in the global agricultural market in the past as the world’s largest producer of groundnuts and palm oil in the 1960’s, and the second largest producer of cocoa before the emergence of oil in the 1960’s to the current level she cannot boast of anything. “Today, seven of the 10 fastest growing economies of the world are in Africa.

    But there exists a paradox. The growth is not inclusive, as hundreds of millions only hear about the growth numbers, but feel alienated from the growth process. Africa’s rural economies habour the greatest share of those being left behind or excluded,” he said.

    He, therefore, said there is need for a new growth model in Africa, one that will stimulate shared prosperity, create jobs for millions of rural youth and unlock the huge sleeping potentials of Africa’s vast agricultural lands. He urged experts in the field to come up with recommendations for the government.

    Acting National President, NACCIMA, Chief Bassey Edem, called for enhanced productive economic activities that would bring about growth and development, improved GDP and by implication, enhance the nation’s domestic and foreign exchange earnings as well as more clout for the country in the comity of nations.

    He also called for a sustained growth and development in all areas of the economy where everyone would have equal opportunity to contribute his quota, and where justice and equity will reign.

    Edem assured of NACCIMA’s support, encouraging his members to ensure that they continued to partner the government and other private sector stakeholders with genuine intention to move the economy forward to build a virile nation on the part of sustainable growth and development.

    He said the theme of this year’s conference, ‘Policy consistency in agricultural value chain: A key to social economic development’ came at the right time considering the state of the  economy in particular and the global economy in general. He was referring to dwindling crude oil prices in the international market.

    He harped on the need to look inwards and go back to the basics to appreciate the importance of agriculture in the socio-economic development of the nation.

    “The business community is facing serious challenges. In order to ease these problems and to chart a course for the nation’s sustainable growth and development, we make a clarion call on the various tiers of governments especially now that we have a new democratic regime in place to create conducive environment that will make the economy a private sector driven one.  This is a sure way of making our country a prosperous nation that we all will be proud of,” he noted.

    Executive Director Forum for Agricultural Research in Africa (FARA), Dr Yemi Akinbamijo, who was guest speaker at the event, said Nigeria spends much of its foreign exchange to import food items.

    He called for Public-Private Participation (PPP) to leverage on economic transformation of the agricultural sector. He also made a case for innovations in small scale holders regarding harvesting, processing and access to markets.

    “It will take three things to move the agricultural sector forward. We need to enhance science, research technologies that improve production of the small holder. There is a need to leverage ICT to improve risk management through effective and efficient market linkages, enhance preservation of nutrient quality,” he said, adding that there was also the need to expand entrepreneurship of groups of women and youth, improve productivity via access to improved seeds, fertiliser, water management techniques and equipment financing.

  • WeChat, others boost learning at Babcock University

    WeChat, others boost learning at Babcock University

    Global mobile voice and text chat app, WeChat, has partnered with MrsCEOnaija.com, the online female-centric blog and several other organisations to promote a workshop to provide career counselling tips for graduating female students of the Babcock University, Ilishan Remo, Ogun State.

    Speaking at the workshop which had ‘After Graduation, What Next?  It is Limitless opportunities,’ as its theme, WeChat’s Regional Manager, West Africa, Mr. Idemudia Dima-Okojie Dima-Okojie stressed the need for businesses in the country, especially, young start-ups to embrace and incorporate the mobile app technology in  business plans if they are to grow and become successful.

    He described the mobile phone business as one of the most rapidly growing industries in the world, with the smartphone practically taking over the lives of half the world’s population. According to him, today at least 50 per cent of the global smartphone users are hooked on touchscreens and mobile apps, especially the latter, due to its inherent benefits for business.

    He said WeChat app has been enhanced with several features to help businesses reach out and interact with both their customers and prospects. One of these features,  he said, is the Official Account, whereby companies and organisations open an account within the WeChat app.

    “With these Official Accounts on our app, these organisations can now interact with their customers and prospects like never before, and more and more businesses are utilizing this feature. Today we have the likes of Etisalat, Airtel, MTN, Jobberman, Dstv, Super Sport, Jobberman, Careers24, Beat FM, and many more on our Official Accounts platform.

    “With this feature, customers can now follow and interact with their respective telecoms service providers, make payments on Dstv, listen to live radio and text into TV programmes, apply for jobs instantly on Jobberman and lots more. All these can be done within the app, thereby helping the user save the data consumed by using multiple apps and browsers to carry out these transactions,” he said.

    Founder of MrsCEOnaija.com, Mrs. Tolulope Adedejian, said the organisation was established to help raise financially empowered females for more balanced homes and community, by inspiring, coaching, enabling and facilitating women to have enhanced sources of income, either through career progression or business start-ups.

     

  • How to boost food production, by experts

    How to boost food production, by experts

    To increase food production, experts say Buhari’s administration should make agriculture a top priority to meet the needs of a growing population. This, however, will require building on the foundation of the Agricultural Transformation Agenda (ATA) and navigating current resource limits, DANIEL ESSIET reports.

    The agricultural sector is facing an exciting future. The sector is reviving, helped by positive policy actions that have improved confidence in agriculture. To continue on this trend, experts said there was the need to accelerate structural reforms as the sector is the bright spot in the economic landscape.

    While there are many challenges ahead, the good news, however, is that enormous opportunities exist to turn the situation around, create profitable farms that produce an abundance of healthy food while improving the soil, enhancing biodiversity, and protecting habitats. To this end, they urged the President, Muhammadu Buhari to find  ways to increase food production.

    Speaking with The Nation, Prof  Daniel Gwary, of the Crop Protection Department, University of Maidugari, Borno State, said bolstering agriculture sector health would support growth going forward. He believes farmers and agribusinesses could create a food secure economy if they can access more fund, electricity, better technology and irrigated land to grow high-value crops.

    Gwary said the agriculture sector  has capacity to boost growth rates, create more jobs, significantly reduce poverty, and grow enough cheap, nutritious food to feed its families.

    He urged the government to  carry out the reform of the food  production system to make it  more efficient, effective and to be more relevant to the mandates.

    The agric development blue print, he noted, should aim at restoration of high economic growth.

    Nigeria, he noted, has great potential for expanding  food production but that the sector is facing  a lot of challenges including slowing yield growth of major food crops,  land degradation and water scarcity issues, and a changing climate.

    His concerns is shared by other  experts with the report that post-harvest losses run 45 per cent for perishable products due to poor storage and other farm infrastructure.

    His position is that the government could support farmers to boost food production without punishing the environment. This will require experimenting with less harmful farming practices.

    According to him, rural underdevelopment has been the main drag on the potential and prospects for growth in agricultural production and productivity, adding that  inadequate infrastructure such as electricity, roads, and potable water, account for the lag in agricultural development.

    To him, poor and inadequate infrastructure, among other problems, increase operational expenditure in agriculture and wants  the administration to address  it. In addition to inadequate infrastructure provision, he   noted  that  there is scarcity of a myriad of required direct farming inputs and needs for productive and profitable agricultural business.

    Inspite of the identified problems that inhibit growth and productivity in agricultural production and food security, Gwary expressed  optimism regarding current scale and enthusiasm of foreign direct investors in the sector following  the efforts made by the outgone Minister of Agriculture, Dr Adesina. This has prompted the global momentum in the support for agriculture in Nigeria from outside.

    The Dean,  Faculty  of Agriculture, University of Uyo, Prof Ini Akpabio, urged President Buhari  to  put agriculture and agribusiness at the top of the development and business agenda.

    He pointed out that productivity in agriculture in Nigeria remains relatively lower, suggesting the need for incentives for farmers to produce more food. He argued for support of the government in the sector for expanded growth in production and a greater coordination of public ministries, departments and agencies that have linkages to the agriculture sector.

    According to him, Nigeria needs a standard policy towards agriculture improvement. In this regard, he identified with the move to  support the production of viable agricultural commodities to facilitate economic and industrial growth. These measures, he noted, would help the nation utilise its potential and the comparative advantages in agricultural production.

    To address the economic growth objective, World Bank  Consultant, Prof Abel Ogunwale, called for the strengthening of the macroeconomic framework, a more responsible fiscal stance, increasing the role of private sector in economic development and improvement in physical infrastructure.

    To reduce poverty, he urged the government to focus on expanding  productive capacity in agriculture, development of rural areas, and upgrading the living conditions for urban dwellers that had suffered from poor urban infrastructure and social services arising principally from high urbanisation rates.

    Ogunwale called for clear plans for agricultural development.

    Farmers, he noted, need support   to enable them to acquire critical inputs such as fertilisers, insecticides, pesticides, storage facilities, tractors and other modern farming tools, hybrid seeds, to increase productivity.

    He urged Buhari’s administration to construct dams and irrigation projects to enhance agriculture development with many rivers flowing through the country.

    This, he said, could lead to self-sufficiency in the production of some critical food crops and the national food security programme, which must necessarily be a component of the national security programme. He said that one way of addressing its food security problem is to move from the present over-dependence on the weather for food production, and also promote agro-processing and good storage facilities to reduce the current high levels of food losses.

    This aside, he said the sector requires good transportation network to facilitate agricultural activities and a vigorous transportation programme to build more highways, railways and improve water transport to enhance agriculture development.

    Ogunwale said there is also the need to provide basic infrastructure and facilities such as roads, hospitals, water, electricity and other basic facilities in the rural areas.

    This would prevent the exodus of youths from the farms in rural areas to the cities and the industrial centres in search of jobs.

    Ogunwale said the sector needs more investments, especially in water, agri-R&D, farm mechanisation. For  him,  the industry should  improve in terms of gross capital formation. But much of this, he   said, should come from the government and also from the private    sector.

    According to him, considering   a stable mandate for the government, backed by strong political will, the government should be able to turn around the economy, through the agricultural sector.

    For him, the government may walk the extra mile to boost growth through infrastructure development.

    According to him, the government needs to increase capital expenditure on agricultural infrastructure to make it an important contributor to GDP growth and job creator.

    He  urged the government to  accelerate policy reforms and invest in transport and storage infrastructure to encourage more participation in agribusiness.

    Experts stated that agribusiness has potential to lift Nigerians  from poverty. They urged the government to empower farmers through training, exposure to new markets and provision of subsidised inputs  such as  seeds and fertiliser.

    They challenged the government to invest in training for farmers and partner with banks to extend to them affordable credit.

    To experts, however, the importance of the agric industry to the  economy has been recognised  by  the  outgone Federal  Government in its economic Strategy 2011 to 2015.

    Demonstrating this, the government through the former Minister of Agriculture and Rural Development, Dr Akinwumi Adesina   developed a strategic action plan for the industry through the Agricultural Transformation Agenda (ATA). The plan recognised the need to target those areas which have the greatest potential for growth.

    To some experts, his initiatives have empowered more than six million farmers across the country to embrace agriculture as a business as he has been relentless in unlocking opportunities for farmers and changing Africa’s narrative on agriculture to wealth creation, away from poverty reduction.

    His Growth Enhancement Support Scheme (GES) ended four decades of corruption in the fertiliser sector, eliminating the middlemen and scaling up food production by nine million metric tonnes in the first year -almost half of the 2015 production target. To further enhance this process, he introduced an Electronic Wallet System which allows smallholder farmers to receive electronic vouchers for subsidised seeds and fertilisers directly on their mobile phones and enable them to pay for farm inputs from private sector agricultural input dealers. The system has reached over six million farmers and enhanced food security for 30 million persons in rural farm households.

    With the success of the electronic wallet system, Nigeria has become the first country in Africa to reach farmers with subsidised farm inputs through their mobile phones. The impact is already being noticed beyond Nigeria with several African countries, Brazil, India and China now expressing interest in adopting the electronic wallet system in their agriculture sector.

    The World Bank, African Development Bank and other global development finance institutions have put up over $2 billion in support of his bold initiatives.

  • How standardisation ’ll boost Africa’s competitiveness

    How standardisation ’ll boost Africa’s competitiveness

    The campaign to strengthen the competitiveness of ‘Made-in-Africa’ products through harmonisation of standards has moved a notch higher. Heads of standards authorities from 54 African countries will converge on Abuja, between 22 and 24, this month, to brainstorm on how to rally the continent to a uniform regime of standardisation, which is believed to hold the key to reducing the preponderance of sub-standard products in Africa and paving the way for industrialisation. Assistant Editor CHIKODI OKEREOCHA reports.

    The resolve to rid Nigeria of  substandard products has never been in doubt. Even before his appointment as Director-General of Standards Organisation of  Nigeria (SON), Dr Joseph Odumodu, had, in his capacity as first indigenous Managing Director of May & Baker Nigeria Plc, demonstrated his quality consciousness when he completed the May & Baker Pharma Centre to the standards of the World Health Organisation (WHO).

    The N4 billion pharmaceutical facility was constructed with the aim of getting the company’s products certified for sale in the international market. It also earned the pharmaceutical giant the WHO Good Manufacturing Practice certification.

    It was the same culture of quality and standards Odumodu brought to bear on his job at May & Baker that he sought to replicate at SON when he was appointed the DG in 2011. As part of efforts to enthrone the culture of quality and standards, he moved to refocus SON through the launch of a six-point agenda, comprising consumer engagement, media engagement, compliance monitoring, capacity building, global relevance and competitiveness of made in Nigeria products.

    The icing on the cake of his interventions was perhaps, the launch of ‘Zero Tolerance Campaign’ to rid Nigeria of fake and substandard products. The initiative has since paid off, reducing the preponderance of substandard products from about 85 per cent to about 40 per cent.

    Having curtailed the activities of importers and manufacturers of fake and substandard products in Nigeria and imbuing the culture of quality and standards, Odumodu now has a new responsibility placed on his shoulders: extending the campaign to the continental level where, according to him, over 80 per cent of substandard products in Africa come from outside the continent. His new charge was sequel to his election as President of African Organisation for Standardisation (ARSO), in Yaoundé, Cameroun, two years ago. As ARSO President, he is now is seeking synergy among National Standards Bodies (NSBs) in Africa to curtail the evils of sub-standard products through the harmonisation of standards for ‘Made in Africa’ products and services.

    ARSO is an inter-governmental body established in 1977 by the Organisation for African Unity (OAU), now African Union (AU) with support from the United Nations Economic Commission for Africa (UNECA). With its secretariat in Nairobi, the Kenyan capital, the organisation is saddled with the primary responsibility of co-ordinating issues of standardisation amongst all NSBs in Africa. The purpose is to promote the harmonisation of African standards and conformity assessment systems, promote competitiveness of African goods and services by removing all  technical barriers to trade, and provide a basis for value addition on African oriented raw materials to promote industrialisation.

    ARSO also promotes self-sustainability for the continent through intra-African trade, as well as represent the continent in global issues of standardization, among others. Accordingly, ARSO is mandated to harmonise national and sub-regional African standards.

    It is also mandated to promote and facilitate exchange of experts, information and cooperation in training of personnel in standardisation activities, aside coordinating the views of its members at the ISO, International Electro-technical Commission (IEC), International Organisation of Legal Metrology (OIML), Codex and other organisations that engage in standardisation activities.

    Aware that without the culture of quality and standards, ‘made-in-Africa’ products would remain uncompetitive and frustrate efforts at industrialisation, ARSO, to fulfil its mandate, has moved to break new frontiers through standardisation.

    Consequently, 54 heads of  NSBs in Africa would converge on Abuja, between 22 and 24 this month, to seek ways of strengthening the continent’s competitiveness through the harmonisation of standards for goods and services.

    At a media launch of the convention logo and information manual, and partnership drive for the conference tagged: ‘ARSO President’s Forum’ in Lagos, penultimate week, Odumodu explained that the mobilisation of all NSBs into the membership of ARSO would drive the standardisation programmes to strengthen the competitiveness of made-in-Africa products and engender regional and, or continental fusion into an economic bloc. To achieve this, he said there is need to increase ARSO’s membership from 34 to 55.

    Odumodu noted that African economies can gather their momentum to become more robust and competitive if countries in the continent constitute a powerful and vital force to fight economic saboteurs. He expressed optimism that a synergy amongst the various African countries could frustrate the activities of dealers of fake and substandard products. He reiterated the fact that over 80 per cent of sub-standard products circulating in Africa come from outside the continent, a situation which he described as quite worrisome.

    “The global activities in trade indicate that no country or continent can advance industrially, economically and socially, without the culture of quality and standards,” Odumodu pointed out, calling on stakeholders to partner and support SON and ARSO in showing the strength of Nigeria as a people  to break new frontiers through standardisation. He said on its part, SON had carried out a number of re-engineering activities, which involved organisational certification, accredited laboratories, and secretarial coordination of the Nigerian National Quality Policy (NNQP), among others.

    Odumodu said as part of effort to assist other African countries enthrone the culture of standards, SON has given a total of 800 standards valued at $9 million to African countries, which do not have the technical and financial capacity to do so. He noted that the gesture also makes harmonisation of standards easy, adding that  SON has trained standards authorities in other African countries, such as Gambia, Sierra Leone, and Liberia, on standardisation. “These countries now have their own standards bodies courtesy of Nigeria,” he said.

    The three-day ARSO President’s Forum, which is an opportunity for NSBs in Africa to synergise on how  to engineer free flow of goods, services and technology across the continent, has three sub-events, namely: the ARSO CEOs Roundtable, the ARSO Made in Africa Expo, and the African Day of Standardisation. The CEOs Roundtable is an exclusive conference for 54 heads of standards authorities in Africa since they have to iron out their differences and move the continent forward in standardisation and internal trade.

    Odumodu explained further:: “The CEOs will provide opportunity to chart a course for the standardisation of African products and the integration of a common market. Though the harmonisation of standards at both the regional and continental levels is an ongoing effort, the actual implementation of all the activities achieved so far lies on the shoulders of the CEOs to implement.”

    The Made-in-Africa Expo is a trade fair where exhibitors from  all over Africa and seekers of  standard products will meet, learn, make enquiries or transact business as they wish. A wide range of products will be on the stands and they will be good products befitting of a gathering of Africa’s standardisation experts, industrialists, marketers and seekers of high quality products.

    It also seeks to provide Micro, Small, and Medium Enterprises (MSMEs) opportunity to showcase products that have continued to remain shielded from markets because of fear of regulatory bureaucracies.

    On the other hand, the African Standardisation Day would celebrate the modest achievements and sensitise the continent on the essence of standardisation and inform the people on their various roles and responsibilities. This has become necessary in view of the technical nature of the issues involved in standardisation.

    Themed: ‘The role of standards in promoting sustainable agriculture and food security in Africa’,  the day is marked by seminars and workshop to share ideas on issues that are at the front burner and require intervention by all stakeholders.

    The forum, according to Odumodu, is structured in such a way as to achieve ARSO’s four  strategic plans 2012- 2017. They  include establishing standards harmonisation systems that supports a sound regulatory framework,  strengthening of ARSO work management capabilities for the sustenance of the organisation,  promotion of maximum and effective participation of members and other stakeholders, and disseminate harmonised standards and guidelines to support intra, inter-African and international trade and industrialisation.

  • NFF: Oshoala’s award will boost Nigeria women’s football

    NFF: Oshoala’s award will boost Nigeria women’s football

    NFFPresident Amaju Pinnick has stated that Super Falcons’ forward Asisat Oshoala’s BBC Women’s Player of the Year award will help boost the game of women’s football in Nigeria.

    “This award has come at the right time, with the Falcons about to start their World Cup campaign, and with an administration that is committed to growing the women’s game in place at the NFF,” said Pinnick.

    The NFF President was a special guest at the BBC Radio 5 programme on the margin of the announcement of the award on Tuesday afternoon.

    “The present NFF wants to do so much to develop the women’s game. The Super Falcons, Falconets and Flamingos are our special daughters. The Falcons, for instance, have won seven out of nine editions of the African Women Championship and have qualified for every edition of the Women’s World Cup.

    “The Falconets and Flamingos have also played at every edition of their own World Cups. So, we have absolutely no reason to treat the women’s game with disdain. We will come up with policies that will grow the women’s game in a powerful way and make the Women’s League very strong.”

    The NFF President is of the firm belief that the award will spur more girls to want to play the game in Nigeria, while inspiring those already involved in the game to be more dedicated.

    While congratulating Oshoala, Pinnick said he looks forward to the gifted forward motivating her team mates to set new marks for Nigeria at the seventh FIFA Women’s World Cup starting in Canada next week.

    “Our girls are in Canada as champions of Africa. Their best outing at the World Cup has been the quarter -final berth at the 1999 finals in USA, where they lost to Brazil in extra time. We look forward to the Falcons setting new records in Canada,”he said.

  • Managing water to boost agric productivity

    Managing water to boost agric productivity

    To produce sufficient food for the country’s teeming population, there must be sustainable and modern agricultural practices. To achieve this, basic agricultural inputs are required. One of these is having an effective irrigation system, a development now stimulating investment interest, DANIEL ESSIET reports.

    Sola  Adeniyi  and  his farmer friends  regularly seek for ways of improving their farm yields. The regular interaction has enhanced their knowledge base, exposing them to better techniques and ideas to prepare their farmland. One of this is a good irrigation system which helps to effectively manage water on the farm.

    Speaking withThe Nation, Adeniyi who is the  Chief  Executive, High Hill Plantain Farms, Lala Town, Ogun State,  said  water needs to be managed sustainably through measures capable  of helping  farmers to increase productivity.

    In some areas, right  now,  farmers  are  panicking  because  the  rains  have  been  low as well as water level. This has raised fears of drought and severe water shortages.

    He said Israelies offer  valuable lessons for irrigation because a large share of small  farms  have  adopted irrigated system  and this  has  raised  the incomes of poor farmers and farm workers.

    With  water supply, at record lows across  farms, he  said no innovation  would  be  more important for  farms than micro irrigation systems. Most of farmers water their crops by flooding their fields with sprinklers or hoses, often wasting water as they go.

    With micro drip irrigation, water seeps directly into the ground through tiny pinpricks in hoses, avoiding water loss through evaporation.

    In addition to the development of new water reservoirs, he said serious conservation steps needed to be taken to improve the efficiency of water use in agriculture which claims almost all of the available fresh water resources.

    According to Adeniyi, modern agricultural techniques, including irrigation schemes, have increased productivity in farm lands and brought prosperity to farmers.

    He said potential savings would be even higher if the technology switch were combined with more precise irrigation scheduling and a partial shift from lower-value, water-intensive crops to higher-value, more water-efficient crops.

    While large farms have higher shares of land under irrigation, he said ensuring access for small farmers, especially in the poorest, most-neglected areas, is thus a prerequisite for success.

    Adeniyi  said  the adoption of modern water conservation methods and agricultural practices is imperative to cope with water scarcity.

    With the   government   facing budget constraints, the onus will fall on international donors, to step in and finance the modernisation of irrigation infrastructure.

    In response to these challenges, he  is introducing farmers to climate smart technologies.

    He urged the government to   modernise the  irrigation system to boost food output.

    In his  view, a farmer,  Akinoluwa Abayomi Mogaji said  irrigation system  is working  well  in the North. This is driven by  state  governments providing substantial funding for irrigation equipment, pumps, and energy to achieve self-sufficiency in  staple foods production.

    He said though water resources  have  been  sufficient to produce the food in the North because of  irrigation, there are many areas in the  Southwest facing substantial water scarcity following  lack  of  rain. Though rainfed farming is where the greatest potential exists for improving output and productivity, he  said  farmers in the  Southwest are  facing rain shortage  that  is  affecting  increases in yield and have significant impacts on production.

    These shortages, he noted, result in increasing competition, which will constrain agricultural production and affect the incomes and livelihood opportunities of many farmers in rural areas.

    Painting  a picture  of the  situation,  Mogaji    said  80  per cent  of  farmers  have  lost their  crops  this  year  because  of  water shortage.

    He said the  sector  is  on the verge of water scarcity adding  that  the government  should take extra measures to fight the challenge.

    Mogaji said  farmers in the  Southwest  were  facing challenges with  irrigation  which  requires  more capital-intensive  equipment because  of the topography.The situation, he noted, is more dire in water scarce areas.

    For this reason, he said a lot of farmers adopt fewer water-consuming crops and develop saline-tolerant rice varieties in response to the looming emergency.

    According to him, supplemental irrigation, with better soil, nutrient, and crop management will  enhance   productivity and yields in small-scale agriculture.

    With  micro  system , farmers  can   take few  hours to irrigate their  fields of vegetables.

    He said  a  small  farmer  who  owns   two acres farm  needs  to be  connected to a micro irrigation canal system.

    To him, increased water capacity means additional hectares of land  being  cultivated while farmers can rely on having enough water for full growing seasons.

    Crucially, he said the government  should   incorporate sustainable arrangements to ensure long-term management and upkeep of each dam to ensure that safety standards are maintained.

    The Director of Studies, Agricultural and Rural Management Training  Institute(ARMTI), Dr Olufemi Oladunmi, said irrigation is the mainstay of irrigated agriculture and  many small farmers depend on it for their livelihoods. These livelihoods, he  noted, however, face serious threats from rapidly falling water tables in many parts of the country.

    Without serious efforts to stem the mining of water,  he  said, food production will decline, unleashing painful social and economic consequences for the nation.

    He said there is a severe water shortage looming in the country.  This is because water is over-exploited and polluted in many areas; most of the water infrastructure is in  in a stste of disrepair; the entire system of irrigation management is not financially sustainable.

    Oladunmi  said  rehabilitation and construction of irrigation canals is  a top priority if the government is    determined  to  improve agricultural productivity by enhancing efficiency of water use.

    According  to him, a systematic approach to agricultural water productivity requires  actions at all levels, from crops to irrigation schemes.

    He said farms in the North rely  heavily on dam network to provide irrigation water for farms in its dry zone.

    The issue, however , is that  many of the dams are old and their maintenance has been badly neglected.

    For him, new dams need to be  built  and  older ones  strengthened, with  new sluices and radial gates installed, so it  can safely be filled to capacity without worry about triggering a breach that would cause flood.

    While  there are  more efforts to improve irrigation nationally, there is,  however, hope on the Niger River Basin Management Project.

    The $7.5 million project targets strengthening the institutional framework and financial sustainability of the Niger Basin Authority (NBA) as well as enhancing regional cooperation around improving environmental and social aspects of the planned Fomi Dam.

    Regional cooperation around planned infrastructure in the Niger Basin is critical for distributing impacts and benefits in a way that improves livelihoods in line with varying needs across the basin and for promoting sustainable economic growth.

    Following endorsement of the project’s justification note by its development partners, CIWA is set to begin an exciting new partnership with the  NBA on the Niger River Basin Management Project.

    The project aims to enhance the NBA’s capacity for facilitating improved water resources management and development in the Niger Basin.

    The project will achieve this by facilitating various mechanisms that promote the NBA’s financial sustainability as well as support the operationalisation of the basin’s Water Charter.

    Also, responding to the basin’s acute needs for infrastructure development, access to energy, storage of water, and other measures that contribute to climate resilience, the project will facilitate regional cooperation for enhanced benefit sharing and reduced social and environmental impacts around the planned Fomi Dam.

    The bank project team is collaborating with the NBA to develop key details of the project.

    Cooperative development of Fomi is, particularly, important given that the design and operating rules of the dam have the potential to influence the magnitude and share of both benefits and impacts for different riparians downstream of the dam.

    The Niger Basin covers nine countries – Benin, Burkina Faso, Cameroon, Chad, Ivory Coast, Guinea, Mali, Niger, and Nigeria – seven of which are among the 20 poorest countries in the world. The population in the basin is highly vulnerable, with seventy percent of the basin’s 130 million inhabitants living in rural areas amid food insecurity due to extreme climate and rainfall variability. Along its 4,200km course, the Niger River is the basin’s economic mainstay.

    For thousands of years, the river has supported its riparian population with diverse livelihoods such as farming, cattle grazing, and fishing; it forms a particularly important lifeline in the arid and semi-arid lands of the Sahel.  But while the basin faces acute challenges, such as rural poverty and food insecurity, both exacerbated by climate change, it has tremendous potential for development of infrastructure including hydropower plants, irrigation schemes, and navigation facilities, all of which can significantly contribute towards economic growth and improvement of livelihoods especially if accompanied by sound integrated water resources management.

    The NBA has a critical mandate to facilitate the coordinated and cooperative management of the Niger Basin. In line with the shared vision of member states, the NBA has developed a Sustainable Action Plan (SDAP) – an $8 billion, 20-year investment plan – consisting of a mix of large and small scale investments in the basin.

  • How standardisation can boost Nigeria’s trade power

    How standardisation can boost Nigeria’s trade power

    The African Organisation for Standardisation (ARSO) forum will hold in Nigeria from June 22 to 24. It is expected to bring together standards authorities from 54 African countries to brainstorm on how to harmonise standards for goods and services. The forum is an opportunity to rally the continent to one regime of standardisation to boost trade, Assistant Editor CHIKODI OKEREOCHA writes.

    At present, Nigeria and, indeed, the continent has no clear and coordinated approach to standardisation of goods and services. The lack of a uniform regime of standardisation is believed to be responsible for Africa’s meagre share of global trade put at three per cent.

    For a country such as Nigeria that is seeking to diversify her economy, following the sharp drop in revenue caused by the fall in oil prices, there is an urgent need to standardise her goods and services to make them competitive in the global market place.

    According to experts, this means that Nigeria potentially stands as the biggest beneficiary of any arrangement that would usher in a regime of standardisation to ease the movement of goods and services within and outside the continent.

    It is against this backdrop that the election of the Director-General,  Standards Organisation of Nigeria (SON), Dr Joseph Odumodu, as president, African Organisation for Standardisation (ARSO), in Yaoundé, Cameroun, two years ago, raised the hopes of not a few industry operators and stakeholders. The expectation was that Nigeria would ride on the platform of the continent-wide campaign to harmonise national and sub-regional standards to boost trade and perhaps, increase her share of the global trade.

    Incidentally, Odumodu was aware of such expectation while the importance of standardisation to the country’s economic fortunes was not lost on him. This was why on assumption of office, he urged a stronger ARSO and massive investment  in quality infrastructure at national and continental levels. He also expressed optimism that if all heads of government and heads of standards authorities in Africa heeded the call for a uniform standardisation, the quality of goods and services from the continent would improve and attract more buyers (more income for investors and workers) and more employment for youths. This, he noted, would help the continent transit to an industrialised economy which products would be globally acceptable.

    Now, an ample opportunity for Odumodu to further push the standardisation agenda and position the country to benefit from the initiative is here. As ARSO president, Nigeria will host heads of standards authorities from 54 African countries in Abuja, the Federal Capital Territory (FCT) between June 22 and 24. The three-day conference tagged: ‘ARSO Presidents’ Forum’ is an opportunity for the standards regulators to brainstorm on how to engineer free flow of goods, services and technology across the continent. The forum aims at activating the collective efforts in standardisation that will break the barriers to trade for the continent to prosper.

    ARSO, an inter-governmental body, was founded in 1977 by the Organisation for African Unity (OAU), now African Union (AU) and the United Nations Economic Commission for Africa (UNECA). With its secretariat in Nairobi, the Kenyan capital, the organisation has its roots in the African independence heroes’ desire for inter-African trade as key to the continent’s prosperity and their understanding that standardisation is the strategy for achieving it.

    Accordingly, ARSO is mandated to harmonise national and sub-regional standards as African standards. It is also mandated to promote and facilitate exchange of experts, information and cooperation in training of personnel in standardisation activities. The association also has the objective to coordinate the views of its members at the International Standardisation Organissation (ISO), IEC, OIML, Codex and other organisations that engage in standardisation activities.

    However, despite this inspiring mandate, the association has not succeeded in rallying the whole of the continent to one regime of standardisation. This, according to experts, is not unconnected with the fact that many African countries (including those that have ratified the ARSO constitution) are not committed to the success of the body. Many of them are also not paying their dues and are not participating in ARSO activities. Worse still, many of them don’t even have a national standards body; their standardisation activities are said to be carried out by an ordinary directorate within a ministry.

    The task before Odumodu is therefore, enormous. However, going by the activities lined up for the forum, observers say the SON DG appears to have a hang on how to turn things around. For instance, the ARSO President’s Forum has three sub-events, namely the ARSO CEOs Roundtable, the ARSO Made in Africa Expo and the African Standards Day Seminar. The CEOs Roundtable is an exclusive conference for only the 54 heads of standards authorities in Africa since they have to iron out their differences and move the continent forward in standardisation and internal trade.

    The Made in Africa Expo is a trade fair where exhibitors from all over Africa and seekers of standard products will meet, learn, make enquiries or transact business as they wish. A wide range of products will be on the stands and they will be good products befitting of a gathering of Africa’s standardisation experts, industrialists, marketers and seekers of high quality products. The only companies, which can display their products in this fair are the ones that present evidence of current approval from their country’s national standards body.

    On the other hand, the African Standards Day Seminar will have Nigeria’s Minister of Agriculture and Rural Development as resource person. He will speak on ‘The Role of Standards in Promoting Sustainable Agriculture and Food Security in Africa.’ Discussants will be selected from among the heads of standards authorities to provide additional country perspectives.

    A Director at SON and Chairman of the Local Organising Committee,  Dr. Paul Angya, said invitations to the forum have already gone to the standards authority in each African country as well as to key industrialists and business people. He said Africa’s trade situation will never be the same again after the forum, adding that it promises to be a turning point in the continent’s joint effort to make progress.

    Some quality management practitioners who spoke with The Nation say once all the heads of standards meet and subscribe to  standardisation as a proven strategy for the individual countries and the continent, their interest in and commitment to ARSO will increase and that will make the body stronger. Also, those of them that have no national standards body will, under the influence of those that already have, will begin to strive to have theirs.

    Also, those who are not building up their national quality infrastructure will also learn from those who are. As the quality infrastructure improves across the continent, better African products will emerge, winning more buyers from within Africa and beyond, and making increased inter-African trade and increased African share of world trade a big reality.

    When this happens, Nigeria would certainly benefit. A Quality Management Practitioner and National President, Association of Systems Management Consultants, Mazi Colman Obasi, said for instance, Nigeria’s lack of a national quality infrastructure is responsible for its damaging economy and brand reputation.

    A national quality infrastructure is a system of institutions, which jointly ensure that products and services produced in the country meet predefined specifications. It also provides technical support to companies so they can improve their production processes and ensure compliance with regulations or international requirements.

    Obasi lamentedthat lack of quality infrastructure is not only partly responsible for Nigeria’s rising unemployment, but its remaining globally competitive. “Until we have many companies that are accredited with ISO 9000 management systems certification, we are not going anywhere; we cannot export anything,” he said, insisting that the country should work towards having a quality management plan.

    Obasi called on the authorities to fast-track the establishment of a National Quality Policy (NQP). Without NQP, Nigeria’s standardisation efforts will continue to look uncoordinated and unclear. NQP’s objective is to make quality the way of life in Nigeria. It will define the apex standardisation institution in the country; clarify the boundaries for each of the regulatory agencies; minimise conflict between them; enhance cooperation between them; and identify existing as well as needed infrastructure as well as chart its own implementation.

    Obasi said: ”Quality is number one. It is the first thing that ought to be considered as the nation focuses on building a robust export-based economy.” He regretted that despite being acknowledged globally as one of the largest consumer markets, Nigeria is yet to be accredited by the International Accreditation Forum (IAF), the regulatory arm of the ISO.

    The expert said countries such as South Africa, Egypt, Tunisia, Kenya and Mauritius have since been accredited by the IAF, in line with global emphasis on quality. According to him, for Nigeria to be accredited by IAF, it must have in place an NQI which refers to all aspects of metrology, standardisation, testing, quality management, certification and accreditation that have a bearing on conformity assessment.

    Estimates by the Organisation for Economic Cooperation and Development (OECD) and the United States (U.S.) Department of Commerce show that standards and related conformity assessment (checking that products and services measure up to standards) have an impact on 80 per cent of global trade in commodities. The World Trade Organisation (WTO) requires its members to use international standards of the type developed by ISO to avoid the technical barriers to trade owing to differing national or regional standards.

    At present, products and services manufactured in the country lack global quality certification. They are denied access to markets in developed economies, a situation that has been a pain in the neck of manufacturers, as their productivity and competitiveness continue to suffer. According to experts, standardisation will boost the competitiveness of locally made products at the international market and ensure the global acceptance of products and services from Nigeria.

    This is true for Nigeria considering the fact that her manufacturing sector is still emerging, depending almost totally on other countries for her supplies of manufactured products. The nation does not have much to offer other than raw materials and that makes the people the poorest in the world. Cocoa, rubber, shear butter, petroleum, iron ore and other commodities go cheap from Africa and once the other continent has processed them into secondary or tertiary products such as beverages, pharmaceuticals, shoes and machines, Nigerians buy them at a huge cost.

  • $10b investment: Will it boost power supply?

    $10b investment: Will it boost power supply?

    Erratic power supply may soon be a thing of the past. A Chinese firm and two local investors are poised to inject $10 billion (about N1.99 trillion) into the manufacturing of lighting equipment and accessories to boost electricity supply. The investment may be the wedge for solar energy adaptation in the country,  Assistant Editor OKWY IROEGBU-CHIKEZIE reports. 

    Nigerians may soonn start enjoying regular power supploy,  following plans by a Chinese firm and its local partners to invest $10 billion (about N1.99 trillion) on energy.Under the deal Hongye-Sinari Group, Niger-Sino Industries Limited and Hamaded Logistics will build a solar energy accessories’plant. When  operational, the plant would serve industrial and housing estates, schools, hospitals and malls,  Director, Energy Generation, Hongye-Sinari Group, Mr. Xu Rongchang said.

    He explained that the investment would lift the country out of its power problems

    Noting that Nigeria has enormous potential that needs to be harnessed, Rongchang said what the country needed at the moment are products capable of reducing energy consumption, such as Light Emitting Diode (LED) products and other high quality electrical materials that comply with global standards.

    With their eyes set on playing a significant role in the energy sector, he said the companies specialize in the manufacture of lighting equipment and accessories; solar energy.

    Shedding more light on areas of investment by the Chinese firm, the head of the Chinese delegation, Mr. David Yang Xoaohua, said the company is also into the manufacture of agricultural equipment, which it also believes will be a good start, especially in the light of the agriculture revolution in the country.

    Xoaohua, while addressing members of the Organised Private Sector (OPS) in Lagos, during the week, said the company would also invest in construction. He said the company is one of the biggest players in real estate in China.

    “We have developed an industrial park worth $15 million and our corporate head quarters is on 8,000 square metres,” he added.

    Stating that the company has branches in over 100 countries with over 5,000 workforce, and investible fund of over $10 billion,Xoaohua said with such enormous funds, the company needed to have clear rules of engagement, an enabling environment and a good legal framework that protects investors and investment.

    He told the OPS members that his firm was in the country to ascertain the level of security and safety of lives and investments, adding that, fortunately, his team has confirmed that the country’s challenges are over blown as they can be surmounted with the right investment policy.

    The leader of the Chinese delegation said after a careful study, the firm came to the conclusion that Nigeria, being the largest economy in Africa, remains the best place to invest with high returns on investment.

    Indeed, since the rebasing of the Gross Domestic Product (GDP), which put Nigeria as Africa’s largest economy with GDP size of $500 billion, coupled with her population size of about 170 million, Nigeria has been the toast of foreign investors, despite serious infrastructure and security challenges.

    Despite the challenges,  Xoaohua believes that with a level playing ground by the government and other necessary agencies, the partnership would thrive and create a mutually-beneficial business for the country.

    “Our aim is to help the nation in the areas of infrastructure development and the mechanization of its manufacturing process, develop the energy sector to boost manufacturing and other forms of businesses. It’s a win-win situation as it provides opportunity for massive employment generation. This is one area we learnt the government is working hard to bridge. There will be no case of dumping of fake and substandard goods as we will set up our manufacturing plant,” he added.

    The Managing Director of Niger Sino Industries Limited, a building and construction manufacturing company in Maryland, Lagos and a former commissioner in Lagos State, Mr. Olanrewaju Saka-Shenayon, assured the Chinese investors that the government would provide a level playing ground. He said the government expects any investor to play by the rules.

    Saka-Shenayon, who was instrumental to the tripartite agreement, said having been in government he appreciates the role private sector operators can play in enterprise and infrastructure development.

    He gave Hongye-Sinari Group a clean bill, noting that it is a strong brand in China and in the over 100 countries it operates. He said this was what spurred him to invite the group to Nigeria. He stated that there is no better time for the Chinese investor to invest in the country than now, especially with its core competencies in manufacturing and real estate, which are huge job creators.

    Saka-Shenayon hailed the synergy between the Chinese company and the local investors as one that would not only transfer technology but build skills, create wealth and grow the nation’s GDP. Besides, the synergy, he said, would further build and re-enforce Nigeria’s profile as Africa’s largest economy.

    He pledged the cooperation of the OPS, noting that with the huge funds the investor is bringing into the country, the nation will be better for it.

    Managing Director, Hemadeb Logistics Limited, Mr. Olatunde Akin Bohun, said as a real estate developer in the Lekki/Ajah axis, he is excited about the coming of the Chinese investors because of the expertise and investible funds they are bringing into the sector.

    He said: “We have a 100 acres real estate development deal with Exxon Mobil and real estate partnership development agreement with some state governments in the Southwest on housing development that will be powered with solar energy. This makes our partnership with the Chinese firm a plus. Currently, we are also developing a five-star hotel on the Lekki/Ajah axis, the medical college of Afe Babalola University worth $10 million including a 140 mega watts plant in some Southwest states.”

    Pointing out that some of the challenges faced by indigenous investors in real estate are high cost of funds and fund mis-match, Bohun as mutually benefiting to parties in the tripartite agreement.

    Others at the event seen by not a few stakeholders as an endorsement of the investment deal included Chairman, Nigerian/China Business Association in China, Mr. Sebbs .P.C. Azubuike, Mr. Akin Abiola and engineer and the Executive Chairman, PEC Estates & Construction services Limited, Mr. Henry Adjbrope and Mr. Olaniyi Taiwo of Hemadeb Logistics Limited.