The Nation Newspaper

Tag: Business

  • AFRIMA kicks off with music business roundtable

    AFRIMA kicks off with music business roundtable

    As the countdown clock ticks for the 2016 All Africa Music Awards (AFRIMA) event, the African Union and the International Committee of AFRIMA adding to the event, revealed in a statement that the event will kick-off with “Africa Music Business Roundtable.”

    The Africa Music Business Roundtable which is slated for Friday November 4, 2016 will take place at the Eko Hotels and Suites, Lagos, Nigeria.

    According to the organisers, the roundtable which comes with the theme “Economic Power of Music for a New Africa” will be a discussion platform to interrogate and strategise on the structure of the music industry in Africa while charting a synergistic way forward for development and economic empowerment, a think tank that will unfold to artistes and stakeholders.

    The brainstorming sessions, which have been divided into parts, will give a deep insight into the unexplored and ill exploited economic values of Africa Music.

    Position papers will be presented by a diverse assemblage of eminent personalities drawn from the various economic strata of the society. These will include musicians, musicologists, businessmen, bankers, investors and big players in the Africa Music Industry. Some of the panelists include; Karima Damir (Morocco);  Nde Ndifonka (Cameroon): Tony Okoroji (Nigeria); Robert Ekukole (Cameroon); Yeni Kuti (Nigeria); Ricki Stein (Uk); Mike Strano (Kenya) among others

    Also debuting on AFRIMA’s 2016 programme of events is the Africa Music Village which has been slated for 5pm on November 4 at the Waterfront, Bar Beach, Lagos, Nigeria. The one-day AFRIMA Music Village is a non-stop festival style open music concert with live performances from Femi Kuti and 30 other African superstars and AFRIMA 2016 nominees. The A-list artistes include; Kiss Daniel, Fally Pupa, Victoria Kimani, Diamond Platnumz, VVIP, Brymo and a host of others. This event is free entry.

    Artistes and participants at this year’s AFRIMA would also have a taste of the new Lagos in a guided tour of Eko Atlantic City, popularly called the 8th WONDER OF THE WORLD. The tour will also include the Oba of Lagos’ Palace and other historic places in Lagos.

    In partnership with The African Union Commission, AUC and the Official Host City, Lagos State, AFRIMA 2016 grand awards ceremony holds on Sunday, November 6 with thousands of guests expected in Lagos for the various events. Awards ceremony is a glittery, star-studded and world-class event with live performances and television broadcast to 84 countries on 109 television stations around the world.

  • N8m business funds for the needy

    N8m business funds for the needy

    Dejectedly they ambled into the Nigerian Institute of Town Planners Hall, Alausa, Ikeja penultimate Sunday morning. They had the inkling that the NASFAT Agency for ZAKAT and SADAQAT (NAZAS), a non-governmental organisation (NGO) would distribute various gift items and cash to some less-privileged people. So, hopeful that they would get something to keep life going, they sauntered to the venue where the items would be disbursed. About 45 of them were present.

    Out of these, one is visually-impaired while two women came to the venue in wheelchairs. The remaining 42 beneficiaries were men and women who had thought all hopes were lost. They sat quietly while the women offered prayers intermittently. And even in their state of despair, they were still hopeful. After all, the outcome of that day had a positive impact on their lives.

    In what could be regarded as life-changing experience,  45 beneficiaries went home with various items and cash donations worth N8 million at a ZAKAT and SADAQAT disbursement ceremony organised by the NASFAT Agency for ZAKAT and SADAQAT (NAZAS), a non-governmental organisation (NGO) saddled with the responsibility of taking care of the needy. The agency was able to achieve the feat with the support and commitment of kind-hearted Nigerians who volunteered to part with some of their yearly earnings in form of Zakat.

    Committed to touching lives, the agency began to empower the downtrodden and provide scholarship programmes for indigent students. In all, about 235 people have been empowered by NAZAS. These include 86 students on educational scholarship support which cuts across primary, secondary, tertiary, visually-impaired, law school and prison inmates. It also embarked on empowerment and business support for 15 persons/SMEs, debts bail-out for six people, health-related cases/medical support for 15 people, business and accommodation support for six converts/reverts to Islam. Currently, 42 students are on regular annual scholarship list.

    The agency’s act of benevolence is not limited to individuals alone as it had reached out to the vulnerable groups within the society. In March this year, it dispatched the first batch of relief materials to the Internally Displaced Persons camps in Borno, Yobe and Gombe states. This was jointly executed by NAZAS and Muslim Public Affairs Centre (MPAC).

    Also, through its public health initiative, the agency is collaborating with Islamic Medical Association of Nigeria (IMAN) to provide free medical services to the downtrodden in underserved location.

    At the commencement of the programme in 2014, the agency gave out over N36 million on empowerment programme while in June this year during Ramadan it also gave out N6 million. The third intervention was worth N8 million, including items and cash donations. Some of the items donated were industrial machines, sewing machines, wiping machines and deep freezers. The donations were according to the specific needs of the each beneficiary.0

    Mrs. Aisha Ogunbayo, a physically-challenged mother of three who was brought to the venue in a wheel chair could not hide her joy for the gesture from NAZAS when she was called to come and receive a cheque of N200, 000 to revive her chemical business.

    “Is this real?”  Ogunbayo asked rhetorically. “Nobody has ever done this for me”.

    In a chat with reporters, Ogunbayo said: “This is real. But at the initial stage, I was skeptical about it.  I am into chemical business but I have been having financial difficulty. I discussed with one of the members and my husband also persuaded me to apply for it.  With this intervention, NAZAS has bailed me out of poverty. I am grateful to the organisation.”

    For Ashafa Amoke, a single mother and a seamstress, she couldn’t have wished for a better day. She received a sewing machine, wiping machine and a cash donation to equip her business. “NAZAS is God-send. I am a tailor. I finished my apprentice in 2005 with only one machine. Since then I have been struggling to make ends meet. I have not been able to raise money to equip my shop. I pray to God to give me the enablement to be able to pay back. God will continue to bless them and their businesses and as God prospers the work of my hands, I will be able to pay my Zakat.”

    One of the beneficiaries Ashafa, Taofeek Ahmed said: “I am happy that I am becoming my own boss. Today is a turning point in my life because God has used them to enable me to become a man of my own. With this money, I would be able to buy welding machine, filing machine and all the equipment I needed for my job. I never dreamt that I would receive such amount of money that would make me stand on my own.”

    One of the beneficiaries, Abdulfatai Onasanya said: “I am a transporter. I had a danfo that had been grounded for years. I have three children and in order for them not to be hungry, I went into petty trading.  With this money, I will be able to bring my bus back on the road. I am back to business and my hope is renewed. I thank the coordinators of this life-changing empowerment programme.”

    For 45-year-old Ranti Sodeinde, that day would remain evergreen as she also received funds to revive her business. The mother of two lost her husband 11 years ago and since then, life has become unbearable for her and her children.

    “I have been shouldering the responsibility of my family in the past 11 years. My deep freezer which I used to cool my soft drinks has broken down. I also do catering rentals but I need money to keep it going. I am excited. I pray that their children will not go hungry,” she said.

    Aileru Zainab one of the organisers and a beneficiary, who received a power generating set, deep freezer and cash, was grateful to the organisers.

    Falilat Olubori, also received a cheque for N300, 000 to expand her business. She said: “Things were not rosy for me. This fund will revive my vision, dreams, and business.  There are many of us who wanted help but I was among the chosen. I really appreciate this gesture. God bless them.”

    For Akewusola Shakirudeen, who graduated from the Department of Marketing Lagos State University in 2008, the intervention was timely. “Since I graduated in 2008, I have not engaged in any meaningful job.  I had a brief stint with LASU Muslim Community for two years. I also worked for LASU External Systems for two years before we were laid off. Since then, life has been difficult for me.  I intend to invest this N200, 000 in vegetable and palm oil business. Now, I will be able to put my marketing talents to good use,” he said.

    Explaining the activities of the agency, NASFAT President Worldwide, Alhaji Yomi  Bolarinwa said what the organisation is doing is not extra-ordinary as  one of the pillars of Islam is Zakat: which means  share with  the poor whatever Almighty has given  you.

    “People have given their Zakat and we are gathered here to distribute to those who are considered less-privileged. As a Muslim, you are enjoined to pay ZAKAT which will be distributed to those who are sick, whose bills are beyond their reach. People who cannot make ends meet, people who are supposed to work but don’t have the means. Basically, to assist people be a better Muslim. If someone is gainfully employed, he or she will be a better Muslim. It has been a rewarding experience touching lives,” he said.

    In a chat with reporters, Chairman, Board of Director of the agency and Managing Director of Accenture Nigeria, Mr. Yusuf said the inspiration to embark on such gesture is borne out of the five pillars of Islam which says trust in the oneness of God, observe your Salat, pay your Zakat, fast during Ramadan and if you have the means go for Hajji.

    “We realise that people try to observe all but neglect the key one which is Zakat. And this is one pillar that can help reduce poverty in the land. This is what inspired NASFAT to establish the agency which focuses on two goals of NASFAT namely education and welfare (empowerment or poverty alleviation).

    “So far we have spent N50 million. These funds come through donations from both NASFAT and non-NASFAT members. And for you to pay Zakat, you must be qualified with a value of N750, 000 a year,” he said.

    Yusuf said touching people’s lives positively through donations from benevolent Nigerians gives him and his team joy.

    Hear him: “I am grateful that one has been chosen to do this. It is also a sense of responsibility and trust. One has been entrusted with the wealth of others to cater for the needs of the less- privileged. It is a sense of accomplishment and gratitude that the little we are doing is helping others.”

    Continuing, he said: “I will be happy the day we spread our tentacles beyond Lagos and its environs by going national; I mean spreading to the 36 states of the federation. In the past two years, we have been able to distribute N50 million. I will be fulfilled the time we succeed in distributing up to N1 billion. This will indicate that we have done for humanity.”

  • NSE, Bloomberg hold talks with business leaders

    NSE, Bloomberg hold talks with business leaders

    Business leaders and captains of industry will on Wednesday gather at the Nigerian Stock Exchange (NSE) to discuss opportunities and challenges in the Nigerian economy, as part of efforts to stimulate invest.

    The 2nd NSE Bloomberg CEO Roundtable is a collaboration between the NSE and Bloomberg.

    The CEO Roundtable themed “Navigating the Changing Business Landscape in Nigeria”, will bring together thought leaders and captains of industry to share in-depth knowledge about their sectors with capital market players and proffer much needed solutions to economic realities.

    The panel at the event will feature chief executive officers from the financial services, telecommunications, manufacturing and portfolio management sectors as well as renowned economists.

    Some of the confirmed speakers for the event include: Oscar Onyema, chief executive officer (CEO), NSE; Segun Ogunsanya, CEO, Airtel Nigeria; Bolaji Balogun, CEO, Chapel Hill Denham; Mark Bohlund, Senior Economist, Africa and the Middle East, Bloomberg Intelligence and Uk Eke, group managing director, FBN Holdings.

    Onyema, said the CEO Roundtable was in line with the commitment of the Exchange to provide a platform that ensures continuous dialogue to provide practical solutions for companies operating in Nigeria.

    “The headwinds that have befallen the Nigerian economy present an opportunity for businesses to take a step back, access the current situation and plan accordingly. It is expected that this event will critically examine the changes in the business landscape, highlight their impact and propose solutions that will enable businesses thrive and survive in the current environment,” Onyema said.

    Head, market structure strategy, Bloomberg, Selloua Chakri, said Bloomberg was working more closely than ever with key financial institutions and stakeholders in countries like Nigeria to help them grasp opportunities, tackle challenges, and bring more transparency to capital markets.

    “We’re delighted to partner with the NSE again to convene this prestigious group of business leaders for what will no doubt be a fascinating and informative discussion,” Chakri said.

    The event will feature a panel session on the theme and will centre on financing capital projects and the real economy in the current environment, policy measures needed to grow the manufacturing sector’s contribution to the economy and maintaining and attracting foreign investment through the downturn. There will also be a macro-economic review to guide discussions.

  • Ease of doing business: Nigeria will be top 100 countries by 2019, says Buhari

    President Muhammadu Buhari said on Sunday in Nairobi, Kenya that Nigeria will be one of the most attractive and easiest places of doing business in the world by 2019.

    Speaking at a plenary session on “Dialogue with the Private Sector” at the sixth Tokyo International Conference for African Development (TICAD VI), President Buhari said his administration is implementing policies and measures to create right and enabling environment for business and investors in Nigeria.

    Nigeria is currently ranked 169 out of 189 countries by the World Bank, according to the Bank’s 2016 Ease of Doing Business report.

    But Buhari, in a statement by the Senior Special Assistant on Media and Publicity, Garba Shehu, told the session attended by several African leaders, Japan Prime Minister Shinzo Abe and international business executives that his administration’s vision and objective is to make Nigeria one of the top investment destinations in the world, within the shortest possible time.

    “We believe government has a particular responsibility to create right and attractive environment for businesses and economic activities to thrive.

    ‘‘In furtherance of this vision, we have launched the Presidential Enabling Environment Council, PEEC and Inter-Ministerial Council to oversee the efforts of government to remove various bottlenecks that stifle businesses and economic activities and thereby create economic activities and the right enabling environment and investment climate in Nigeria.

    ‘‘The secretariat will include strong private sector representation that would be led by experienced business professionals from the private sector.

    ‘‘We are committed to moving up the ranking of the World Bank’s ease of doing business index 20 places in first year and be in the top 100 within the next 3 years,’’ the President said.

  • ‘Ondo needs governor with business experience’

    ‘Ondo needs governor with business experience’

    Dr. Olusegun Abraham is a governorship aspirant on the platform of the All Progressives Congress (APC) in Ondo State. He spoke with Group Political Editor EMMANUEL OLADESU on his chances at the primary and preparations for the election.

    How are you warming up for the primary?

    I am warming up very well and things are turning out positively. The whole state has been receptive to my ambition. The response from the grassroots, right from the ward level, has been positive. We set out some months ago. I started my tour of the wards some months ago. No aspirant has traversed the length and breath of the state as I have done. There are some of them that have not been able to do what I have done. The response has been very okay. I am popular in the party at the local, state and national level and people look forward to my emergence.

    What transpired at the screening of aspirants?

    We were informed about the guidelines for the screening. They looked at what we submitted, our credential and they asked some few questions. They asked from us: apart from you, who else do you think can be the governor? These were some of the questions they asked from us.

    Could you shed light on the rumours and denial of rumours of endorsement, in respect of your ambition?

    There have been endorsements in Akoko. In fact, the endorsement cuts across the state. Many things are responsible for this. The Akoko youths realised that, in the last 15 years, I have been assisting them educationally, in terms of school fees, meeting their educational expenses, giving them scholarship. I have been setting up small businesses for the less privileged in the society. I have given scholarship to over 200 people. I have assisted some people to go to school overseas and paid their school fees. Youths and their parents have benefitted from these programmes. When the university authority in Akungba actually sent people packing; some of them were to lose a session or semester for not being able to pay N15,000, I came to their aid. I assisted those who could not pay across the local governments. The endorsement by the Akoko youths is gratifying. When the youths begin to do that, you will know the result. people are happy that somebody is coming to this state who will not steal their money.

    What are your core plans for the state?

    When you look at the problem of Nigerian and Ondo State in particular, you discover that they are two and the two cannot be separated. These are the questions of economy and integrity. Because people don’t have integrity these days, we have lost virtues, we have lost values, we have lost conscience and this has led to corruption. Ondo State is becoming a desert. All the monies that came to Ondo State have been siphoned. They only have cosmetic projects. That is because there is no integrity, and because there is no integrity, there is no value, there is no virtue. You can see that the problem has become more complicated. They can’t add value and the money from Abuja, they siphon it.

    On the economic problem, the state has not been privileged to have a businessman in the saddle who can use business discipline, business acumen and international connection to turn its economy around, to turn the opportunities into productive activities, so that we can earn more revenue, so that the state can be bouyant and prosperous.

    These are the two goals. Other things flow from them. When we are talking about the economy, we are talking about industrialisation. Every local government should have at least on small scale business that will engage the youths and women. The infrastructures in Akure are completely dead. There is pressure on the infrastructure. They cannot cope because everybody moves from the village to the urban centres. Every village is associated with a particular industry in a country like China. The same thing we are bringing to Ondo State. These industries will be set up with the raw materials there. We will train the youths there so that they can be productive.

    The world is now a global village. Our local areas are part of this global village. Whatever is produced here can be used in America and other places. If a cleaner in America works in three hours, the salary is more than the eight naira minimum wage that Nigeria is taking. We must develop our economic activities. A professor in Nigeria may not be able to earn what it takes to feed a dog in America. This must be reversed. The only way is to develop our economic activities and return to values, virtues and good leadership. If I say yes, it must be yes. If I say good morning, it must be morning. There are some people, if they say good morning, yiu must look at your wrist watch before you answer.

    You send your driver to buy fuel, he tries to shortchange you. You get to the filling station, the attendant wants to shortchange you. You can’t develop an economy like that. So, integrity and economy are interwoven. The two are inseparable. Today, Buhari is fighting corruption. Thirty years ago, he fought corruption. When he left, nobody to talk about value and virtues again. That’s why anybody can come to Ondo State and divert half of the money meant for education, health and road and think that he is smart. Today, we are a laughing stock across the globe. That’s why Trump was talking to us like that. people are always stealing in Nigeria.

    What are your plans for education, health and other infrastructures?

    We will revive our education system. We will have a productive education system. We now have certificated institutions; academic people. We have a polytechnic in Owo. It should contribute more to the economy of Ondo State. It should be able to design many things. We will have education without walls. We are going to break the walls. Our educational institutions must meet the needs of the society. Education is about knowledge. If you have knowledge and it is not relevant to the society, it is useless. We should be able to apply knowledge in an appropriate manner.

    We are going to look at health in a holistic manner. It is divided into two. We are going to look at the preventive health care system. Then, we will introduce curative health care system. What you have in Nigeria today is the curative health system. When somebody is ill, you take him to the hospital and you begin to treat him. We will like to prevent illness starting from the food the people eat, their lifestyles, what they must do to make them healthy. We don’t want our people to go through pain. We don’t want our people to lose the productive man-hour.

    We are going to look at the infrastructural system. We will develop our infrastructure, using our local materials. We will reduce the capital flight. Some roads will be done by expatriates. Some roads will be done by our people. We will use the raw materials we have to develop our state. We will invite investors. Investors don’t just come. They come when they know that there is a market for their products. So, we create markets for them.

    We will focus on agriculture. We don’t need fertilizers to grow our agricultural products. Our soil is not polluted with fertilizers. If it is not polluted with fertilizers, then, we can produce organic foods. Organic food is three times more expensive than the normal food. We have the cargo airport that is lying idle. We will use it to export our farm produce so that our farmers can earn dollars. Some people in the civil service will even want to resign to become international farmers. We have a big advantage we can explore. I am not a professional politician. I am a professional in politics. I am an entrepreneur in politics.

    The spirit of enterprise is in me. When I see stone, I see money, granite. When I see weed, I see money. I see money littered on the way. I see the waste her as an incomplete process that can become money. It can be converted to toiletries, fertilizers. We need to change the syllabus of our universities. I read Technology Management. We will change the orientation of our ministries and promote inter-connectivity. Our civil servants have initiatives. We will drive them. We must wage war against corruption.

    The corrupt people have destroyed our youths. Instead of using the money to build industries, they waste the money. We have unemployment and under-employment. We will also try to secure the environment to prevent crime. I am not going there to make money. I am for the upliftment of the people financially and spiritually. If you love your neighbour, you will not steal the money meant for the development of the state. I don’t think people who have stolen millions and billions from the public treasury should have human rights. Do you know how many people have died through that singular action?

    It is your second attempt at seeking the position. How would you rate the process now?

    In 2012, I was working. I was popular. The thing was not zoned to me. I said it was not yet time appointed by God. When they decided in 2012, I was smiling. People asked why I was smiling. I told them it was not yet my time. I believe that power belongs to God. I said God, if you will give me power, give me power so that I can impact on the people; that God should give me power in such a way that it will not destroy my soul so that I can make heaven. I did not want power at all cost. I want to be the governor who has the attributes of God; patience and love. Nigerians should follow the path the successful countries have followed. All I want is the success of our party and the progress of our state.

    Have you been interacting with other aspirants?

    We are talking. We are relating. We crack jokes. We talk regularly. God will make us succeed in life and give us prosperity. We are all qualified. It is a big responsibility we want to shoulder. There is a desire to lead. Not everybody can be governor at the same time. But, we can all serve in different capacities at the same time. Everybody is a building block. Each block has a position. In abroad, you see a driver calling the manager by his name. The driver and the manager sit together. They play complementary roles. Everybody has a duty that is essential and special. All the aspirants, we are equal. God has destined for everybody what he will do.

    What do you expect the leadership of the party to do to guarantee a hitch-free primary?

    The leaders have experienced. They formed the party. They fund the party. They have been holding primaries. Ondo will not be an exception. We should trust the leaders that they will do what is right. We should learn from them. We can only make some suggestions.

    Can an APC candidate from Akoko/Owo axis beat a PDP candidate from Akure?

    These are camouflages. In Akure, you see the people of Akoko, Ondo, Idanre, Ekiti, and others. It is a wrong calculation and we are happy.

    What is your advice to the INEC in respect of the inconclusive elections?

    We must look at the causes. I have not seen anybody jailed for electoral malpractices. The laws should take its course. They are not for decorations. The INEC must prepare. They must be upright. They must promote integrity.

  • Music meet business as Davido, others headline Festival of India

    Music meet business as Davido, others headline Festival of India

    •Filmmaker pleads with pirates

    Nigerian superstar, Davido, Pasuma Wonder and Ara are among artistes who will be engaging their Indian colleagues during the forth-coming Festival of India Lagos. Scheduled to take place August 13 at Tafawa Balewa Square, Onikan, Lagos, other musicians billed to perform are AnupJalota, Sammie Okposo, SaiGargi, Tee Mac and Yuvika Chaudhary.

    Former president of the Performing Musicians’ Association of Nigeria (PMAN) and the Chairman of the Festival of Indian-Lagos Planning Committee, Bolaji Rosiji, in a statement said; “India is the fastest growing economy in the world and has the 2nd largest SME network in the world. One of the objectives of this event is to revive the SME sector in Lagos State through a mutually beneficial development programme.”

    According to him, thousands of Nigerians, Indians as well as members of the diplomatic corps will be thrilled by the rich musical experience of the globally acclaimed Emperor of Indian music, Anup Jalota at the spectacular event.

    “Anup Jalota is popularly known as the Emperor of Bhajans. He has won multiple awards globally and is coming to the Festival with his full troupe. Anyone who has heard his tabla drum player knows it sounds just like thunder. Pasuma Wonder has promised that since he has ‘home advantage’ he will be at his most entertaining form to musically challenge the Indian Stars and do us proud,” Rosiji added.

    He further revealed that the rich cultural exchange is organized by the Indian Diaspora in Lagos, with the support of MTN, Zee World, Gaurapad Charities amongst other notable corporate organizations and the Lagos State Government.

    “This event which has the total support of the Federal Government of Nigeria will showcase the crème de la crème of Bollywood and Nollywood. The Indian festival will also be enriched by the participation of other renowned international and contemporary stars, dancers, dramatic artists, distinguished scholars and top government officials from India and Nigeria,” he also added.

    According to Rosiji, “this Festival of India begins with a Chariot parade which takes place in major cities all over the world and attracts millions of tourists. The Chariots departs from CMS accompanied by Indian and Nigerian cultural troupes to arrive at Tafawa Balewa Square, Lagos where there will be an International Fair, Indo –Nigerian Cultural EXPO And concert. This historical event will deepen and extend bilateral synergy and collaboration in various sectors-economic, and cultural, entertainment and diplomatic relations between the two great countries.”

  • How I started my farming business- Obasanjo

    How I started my farming business- Obasanjo

    Former President Olusegun Obasanjo has revealed how he started his farming business as an apprentice after retiring as the Head of State in 1979.
    He spoke at a lecture in the University of Ibadan on Saturday on the topic: “Agribusiness: Time to act ”
    He disclosed that he enrolled at the Institute of Agricultural Research and Training (IAR&T), Ibadan to learn the art of farming as an apprentice for three months shortly after he left office.
    He recalled that his teachers at the institute initially had problem treating him as a student or apprentice but that he insisted that he should be addressed and treated as a student and an apprentice because that was the only way to enjoy the teaching-learning process.
    ” I cleaned chicken house. I fed chicken. That is how to be a farmer. Anything less won’t do. You can’t be a successful farmer without being an apprentice.”
    The former president explained that no matter how learned or how many degrees one has, it requires learning as an apprentice, deep interest and passion to go into farming and succeed.
    “There must be interest and passion for people to go into agriculture and succeed in it. We must get it right. We have to glamourize and incetivize farming to keep people that are interested in agriculture in the business.”
    The former president said no plan to take people into agriculture will work except the people have passion for farming and are willing to learn the art of farming first.
    Obasanjo expressed his willingness to mentor young farmers where possible.

  • How a cabal hijacked cooking gas business

    How a cabal hijacked cooking gas business

    Last month, the price of liquefied petroleum gas (LPG), commonly called cooking gas, went up by almost 30 per cent. What is responsible? A cabal in the LPG sub-sector has hijacked the business, thwarting the objective of the Federal Governmen to make the product affordable. What is the solution to the problem? EMEKA UGWUANYI examines the situation.

    The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) saw it coming. Last June 3, it raised the alarm over the malpractices in the liquefied petroleum subsector, warning that if nothing was done, price rise was imminent.

    Shortly after, the price of cooking gas rose sharply from N2.3 million  to N4.3 million for 20 tonnes. The cost of filling a 12.5-kilogramme cylinder went up from N3,000 to N4,000.

    Investigation by The Nation revealed that off-takers appointed by the Nigeria LNG hijacked the LPG business as they control the shipping and the terminals from which the product is supplied to various sales points in the country.

    After a screening, the NLNG appointed six firms to lift the product to terminals and depots in Lagos for distribution to consumers. The off-takers, which are Le Global, Harig, Linetrade, Chimons, Greenfield, and Hyson, an arm of the Nigerian National Petroleum Corporation (NNPC), lift 150,000 metric tonnes yearly. However, it was alleged that the off-takers were conniving with terminal owners to hike the price.

    According to sources, this happened because the NLNG and other regulatory bodies failed in their supervisory roles.

    The Liquefied Petroleum Gas Retailers (LPGAR) National Chairman, Mr. Michael Umudu, confirmed that the LPG business has been hijacked  by a cabal. But he did not mention names.

    He said: “I am not here to mention names, but we all know that NLNG appointed a selected number of firms to receive and market the product. They should explain to us the factors that brought us to this precarious situation. They (off-takers) should explain to LPG stakeholders, the government and the consumers what happened. We worked together to persuade the government to intervene when the sector was almost dead in 2007. They were appointed to receive and redistribute with the intention of making the product available to other marketers because it is not possible for every marketer to receive directly. Now see what is happening. Our common patrimony has been hijacked by some people who are playing the ostrich.

    “I know what we suffered in the past to rescue this industry and now a few privileged ones are taking advantage of the sector. This has not happened in the industry before. We have never witnessed supply shortage without any known cause. The last major scarcity we had was in 2013 when NLNG had a dispute with NIMASA and the distribution was halted as part of sanctions placed on NLNG by NIMASA. The crisis lasted for weeks, but LPG price was not up to what it is today. There were marginal rise in price in the past, which were caused by rise in price of crude oil.

    “We were able to easily adjust because the effect was minimal. But now no genuine reason has been given, and the price kept going up. We suspect stage-managed supply shortages to be cause. The situation is such that the LPG industry has been pocketed by a few. Some of them did not even participate in the process that led to the relative growth  being witnessed in the sector in recent years.”

    According to him, the alleged cabal does not think about the growth and future of the LPG sub-sector, because “all they think is self, self and only self”.

    “The cabal protects its members interest only. They are organised and cohesive in their dealings,” he added.

    The alleged hijack of the LPG business, it was learnt, started when a private depot was the only depot selling LPG. “The depot kept increasing  the price and everyone was complaining, including some off-takers, mainly Nigerians. The depot was accused of being owned by foreigners, whose interest was not the progress of Nigeria, but to exploit Nigerians. Eventually, another consignment arrived three weeks after in which many indigenous off-takers had allocation. We expected them to sell at normal price or at least bearable price as a show of patriotism, but instead the price continued to go up higher,” a source said.

    According to the source, members of the cabal are so powerful that they presented one-sided data to the NLNG. “They are highly connected. They present themselves as if they represent the common interests of the sector. So, what is happening is that the NLNG is made to believe that there is normalcy in the sector whereas the reverse is the case. It is just unfortunate,” he added.

    On what the members of ALPGAM, NALPGAM and LPGAR are doing to address the problem, Umudu told The Nation that the only organisation that is independent of this cartel is the one he heads and that is LPGAR branch of NUPENG.

    “They are so powerful and parade a lot of cash. Of course, you know what money can do in Nigeria. They do everything to suppress and impoverish gas retailers and their umbrella body – LPGAR. But we don’t mind. We will continue to provide checks and balances in the sector. “We are planning a number of events to tell the whole world what is happening.

    “Apart from publicity, we are planning to petition relevant authorities and if that does not suffice, we move to the next stage which is protest. Our lawyers are already instructed to secure for us necessary police clearance. We are planning to stage some protests to bring this to the notice of some arms of government.

    “We are peace loving people but should not submit to this kind of exploitation. Though the president of Nigeria LP Gas Association, Mr. Dayo Adeshina, told me he is planning a meeting of the stakeholders to address the problem. We are waiting and hope it happens soon.’’

    Umudu said LPG retailers planned to meet with agencies, such as the Department of Petroleum Resources (DPR) and Products and Pipeline Marketing Company (PPMC), on the issue. “Meeting the regulatory bodies is part of activities we have planned for next week and beyond. This battle may take longer than one may ordinarily imagine because the powers of the people and organisations involved. I don’t take them for granted at all. They approximate themselves to the whole sector.

    “They often advance the argument that it is a free market. But they don’t realise that even in the Western world where liberalisation originated, you dare not manipulate the system for personal gains,” he said, adding that the monopoly must be broken and the NLNG should get more involved in the process beyond making the product available. They should monitor what happens at the transportation level.

  • Business school targets international relevance

    WHAT should the government do about candidates unable to get admission into higher institutions yearly? It should diversify access to education to help them, Pastor Tunji Adepoju, President/CEO, Eden Global Business School has said.

    Adepoju said Nigeria could turn its large population of youngsters into exportable assets if they are well trained. He urged candidates to seek alternatives to conventional university education by taking the professional route.

    In an interview with The Nation, he said his school is working to achieve that aim through its array of professional programmes which are locally and internationally recognised.

    He said: “We are offering educational solutions that will offer our students both in national and global certifications.  In the sense that once you are certified in your area of competence, you can work anywhere.

    “Our vision is that for the next 10-20 years, we have a situation in Nigeria where we become the number one hub for exporting human capital worldwide.”

    Locally, Adepoju said Eden Global Business School runs professional, certificate and graduate, and postgraduate diploma programmes in collaboration with the University of Ibadan in Business Accounting; Business Information System; Computing and Information Technology; Data Processing Management and Management Information System; while internationally, its professional postgraduate programmes in Business Administration, Management, Marketing and Computing and Information Technology are accredited by the International Professional Managers Association (IPMA), United Kingdom, United Kingdom.

    “Our programmes have national certifications from University of Ibadan; the IPMA certification is global,” he said.

    Checks by The Nation showed that Eden Global Business School is listed on the IPMA website as an outreach affiliate centre.

    Adepoju said EGBS is accredited by IPMA as a teaching and examination centre because it has the facilities and trained personnel to take its courses.

    He said admissions of students into the various programmes are handled by UI and IPMA to ensure only eligible students are accepted for the different levels.

    “The University of Ibadan and IPMA UK are involved in admissions and moderation of examination.Admissions are open now.  Before now, we offered six-nine month programmes.  But now we have restructured to 15-month programmes, which includes an internship period as well as project,” he said.

    Entry level requirements vary for each of the five levels of certifications.  To enter for a professional certificate in any of the programmes, Adepoju said a student must have at least three O Level credits; five credits (including English and Mathematics/IJMB/NCE and non-relevant National Diploma) for a Diploma; and five O Level credits plus a partially relevant HND/BSc for a postgraduate diploma.

    Apart from these programmes, Adepoju said EGBS also offers programmes useful for church leaders and administrators up to Postgraduate Diploma level.  Some of the courses include: Church Finance and Asset Management; Theology and Urban Christian Ministry; Church Project Management; Prayer and Counseling Ministry; and Human Capital Management.

  • N2.5b CBN cash for business savvy Corps members

    N2.5b CBN cash for business savvy Corps members

    From the existing N220 billion Micro Small and Medium Enterprises (MSME) fund, the Central Bank of Nigeria (CBN) yesterday said it would provide N2.5 billion facility to encourage members of the National Youth Service Corps (NYSC) with good business ideas.

    The apex bank said the recent NYSC members with good business ideas and entrepreneurial skills can now access N2.5 billion loans at single digit interest designed to keep them in business.

    Speaking at the kick-off of the training of the first batch of applicants under the Youth Entrepreneurship Development Programme (YEDP) in Abuja, the CBN Governor, Mr Godwin Emefiele, said: “Each Corps member is entitled to a maximum of N3 million, their degree certificates and their NYSC discharge certificates which should not be more than five years will serve as their collaterals.”

    He, however, cautioned the corps members to exhibit the highest level of probity and responsibility in paying back the loan as none of them would like to toy with his degree certificate or NYSC discharge certificate. He stressd that  repaying the loan will ensure that they can reapply for more financial support as well as make money available to future generation of corps members that will benefit from the revolving facility.

    The programme, he said, is intended to create one million jobs warning that the facility “is not a grant but a loan that must be repaid.”

    Emefiele said: “We do not anticipate that any of them fails. The reason is because Nigeria is not the only country where small and medium enterprises loans have been granted (loans). It has been successful in different countries.”

    He thanked the NYSC for helping to put together the first set of corps members both present and past  “so that we can nurture them as young entrepreneurs not as people who go into the world looking for jobs, but nurture them as people who are developing the entrepreneurial spirit and skills, not only for their good but also for the good of the country; if we lend money to 100 people, 97 people pay which is a very commendable feat and that is what we do expect here.

    “Somebody who has got a degree certificate or HND certificate to  attain a gainful employment or a gainful life will abandon his certificate or his NYSC discharge certificate just because he wants to take a loan and not pay. I want to enjoin everyone who has accessed this loan to please repay.”