Tag: Commerce

  • NACCIMA urges FG to make increasing population an asset

    National President of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Iyalode Alaba Lawson has urged the Federal Government to turn the country’s 198 million population into an asset.

    Speaking on the recent announcement, The national president of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Iyalode Alaba Lawson has urged the Federal Government to turn the country’s 198 million population into an asset. by the NPC, Lawson said that Nigeria’s Population is now estimated to be million thus making our country as the 7th largest in the world.

    “Population could be an asset, but if not planned it equally poses a lot of challenges in various areas like provision of infrastructure, adequate health care system and service; an appropriate educational system and employment for the populace,” she said.

    “Therefore, in meeting these challenges,the NACCIMA national President said it require proper planning by Government at all levels and close collaboration with other stakeholders.

    She disclosed that NACCIMA as the voice of business and a national body engaged in promoting activities of the private sectors in all major sectors is ready to work with Governments at all levels to ensure that the Nigerian population becomes an asset.

     

  • Kano to address leadership crisis in GSM market

    Kano to address leadership crisis in GSM market

    The Kano State Government on Friday set up a Caretaker Committee to manage the GSM Farm Centre market with immediate effect.

    Alhaji Ahmad Rabiu, the state Commissioner for Commerce, Industry, Cooperatives and Tourism, disclosed this at a news conference in Kano.

    He said the establishment of the committee became necessary to forestall breakdown of law and order in the market.

    Read also: Kano to introduce special programme for physically challenged

    Rabiu said the objective was to harmonise all factions of traders, create uniformity of purpose, ensure smooth commercial activities, sanitise the environment and ensure physical development control, among others in the market.

    He urged traders and business organisations in the market to give all the necessary cooperation to the committee for peace and tranquillity to prevail.

    Rabiu said that the committee was expected to perform its assigned task within six months.

    NAN

  • Abia’s politics of commerce

    Abia’s politics of commerce

    The Scottish philosopher, Adam Smith (1723 and 1790), posited in his book: The Wealth of Nations that “No Society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable”. His postulations can be equated to the vision Abia State Governor Okezie Ikpeazu whose determined effort to make a difference in governance has not waned despite the legal obstacle mounted by his foes shortly after his election.

    Through hardwork, Dr Ikpeazu is rewriting the history of Abia, and his ultimate desire is to make it second to none in the country. To make Abia great, he has revived moribund industry and he is also leading the crusade on the recognition of Aba made goods as durable and reliable. Just over two years in office, he has opened new frontiers in the emancipation, renaissance and development of the state. The renewal of Abia in over 24 months has become talk of the town. It is all of the governor’s making that the state is today a major exporter of manufactured goods.

    Since May 29, 2015, Abia has taken some positive steps and entered into a new level of socio-economic development similar to that of the Asian Tigers.Besides consolidating on the gains of the previous administration, Ikpeazu has made the provision of infrastructure his  priority by ensuring that all senatorial zones of the state are beneficiaries of infrastructural overflow. Abia is looking more beautiful by the day.  Roads have been built in the 17 local government areas of the state,  dilapidated water schemes rehabilitated, bridges constructed. For the first time, the state has a flyover bridge and it took Ikpeazu for the miracle to happen at Osisioma. The governor also remodelled Enyimba city, the South East’s commercial nerve-centre, to serve as Africa’s industrial hub.

    Health centres and clinics now dot Umuahia, the state capital, and other towns, giving the people a relief. People do not have to travel to ‘’big cities’’ in order to attend to their health. The farmers too have been receiving help from government. They got agricultural inputs to aid their work. The higher institutions are not left out in the remaking of the state. They have been given grant to aid their research works.

    The Ikpeazu administration is creating a brand anchored on service and performance. The brand is centered on delivery of dividends of democracy to the people. This is part of his campaign promise, which has formed his covenant with the people. This is propelling the government to provide more services despite limited resources.

    Through delivery of the dividends of democracy, the government has lessened the burden of the prevailing economic depression, confirming the assertion of Sithu U Thant (1909 to 1974), Burmese Secretary General of the United Nations, that “the world will not live in harmony so long as two-third of its habitants has difficulty in living at all.”

    The governor has demolished the character of self defeat and encouraged the spirit of self confidence as a formidable means of self actualisation. Today, Aba made products are seen as a brand, which is as reliable as products made in Italy, Britain, Germany, United States, China, Japan and others. The visionary government also established the Aba industrial clusters for Abia’s industrial growth.

    Undeniably, Ikpeazu’s courage in redefining Aba and its products is in line with the contention of former American President Andrew Jackson that “one man with courage makes a majority”. For now, the governor is the Chief Brand Ambassador of made in Aba goods. He has not only embarked on an aggressive promotion of the products, but has created the Aba Urban Renewal Agency as well as a regulatory board to encourage traders and entrepreneurs to produce more quality products and market them abroad with ease.

    The Rural Transformation Agenda (RTA), which he kick started was climaxed by the setting up of a five-man development team in each of the 184 wards of the state to assist in identifying the pressing needs of each village and community in the ward under the Abia State Rural Infrastructural Development Initiative, (ASRIDI).

    Equally, youths are being empowered under the structural development of the state to start businesses of their own. In addition, two youths from each of the 17 local governments of the state are to travel to China to undergo training in shoe and leather manufacturing. On Ikpeazu’s assumption of office, some youths were selected and trained on the modern techniques of farming under the    Youth for Agriculture Employment Scheme (YAES). The Ikpeazu administration also introduced a youth empowerment and development concept called Education for Employment Programme (E4E). Its aim is to develop and empower Abia youths and imbue them with the virtue of self reliant. To ensure sanity on the road, the government established the Traffic Management Agency (TMA),  which employed many,  reducing youth unemployment in the state. To observers, what the governor, who they refer to as the ‘’Moses of our time’’ deserves is another term to enable him consolidate on the gains so far made. The state, they argued, deserves the best and ‘’our governor has shown that he is the best and that he will always give his best to the state.’’

  • Spinning firms lead at Commerce & Industry awards

    Job spinning firms with demonstrable contribution to local sourcing and backward integration initiatives in  downstream sectors led the pack at the Lagos Chamber of Commerce and Industry (LCCI) Awards.

    The entrepreneurship giants were honoured based on direct and indirect impact on employment  creation, market share output, promotion of Small and Medium Enterprises and investment commitment to encouraging Nigerian products.

    The Murtala Muhammed Airport Two (MMA2), operated by Bi-Courtney Aviation Services, clinched the Public-Private Partnership Award; Lagos Metropolitan Area Transport Authority (LAMATA) – Infrastructure Project of the Year Award; School Media – Innovation & Technology in Education and the Nigerian Stock Exchange (NSE), the CSR company of the year awards, among others.

    President of the Chamber Dr. Nike Akande, said the selection of nominees and winners was subjected to painstaking and analytical procedures, following entries from various sectors of the economy.

    She urged players in the private sector to infuse more dedication to the business of wealth creating while the government stayed put to fixing the power sector, security challenges, foreign exchange, infrastructural and institutional bottlenecks.

    She said: “We are today celebrating enterprises that have excelled in the economy amidst that many of them are also indigenous enterprises. The LCCI Commerce & Industry Award would, among others, continue to promote healthy competition among corporate organisations as well as competition as it is a major driver of excellence. We recognise that there is no perfect time to make an impact in any system.”

    Governor Akinwunmi Ambode said the government was relentless at initiating policies and strategies enhance a globally competitive condition for business opportunities in the various economic sectors.

    Represented by the Commissioner for Commerce and Industry Rotimi Ogunleye, he said: “Strategic technological development have changed the way business is done globally. Therefore our local investors and business entrepreneurs to leverage on its strength by pushing Nigerian products on the global stage. I urge the organise private sector to continue to partner with us as we redeem commitment to finding solutions to the dynamics of the business sector. We are making progress on the ease of doing business, global policy initiatives and infrastructural development.”

  • ‘Ajegunle‘ll become toast of investors’

    ‘Ajegunle‘ll become toast of investors’

    The newly elected chairman of Ajeromi-Ifelodun Local Government Area  Fatai Ayoola has promised to attract investors to the community.  He made the promise shortly after winning the council polls.

    He said the youth would pilot the scheme to turn the suburb community to centre of commerce and industry. He noted that adequate training had been given to the youths to get them focused for task ahead.

    Ayoola, who is a member of the All Progressives Congress (APC), said: “My vision for the council is to make ‘AJ’ a mega city inside a mega state. I will like to improve on what my predecessors like of Hon. Rabiu Oluwa, Hon. Kamal Bayewu have done.

    “I am drawing inspiration from Asiwaju Bola Tinubu, Babatunde Fashola and the home and wonder boy Akinwunmi Ambode. These leaders have impacted in the Centre of Excellence. I will be leaning on that to set a path for our people in Ajegunle community.

    “It will be based on four-point agenda which comprised of roads construction, healthcare provision, upgrading of social facilities and providing primary education facilities. We are also going provide uniforms and writing materials for our school as well putting in place e-library to enable them catch up with the trend in the education sector.

    “We will empower women to enable them contribute to the growth of Ajegunle in positive ways. We will take very serious the issue of security, so that people can go about their business without molestation.

    “There is a programme going on, where the youths are training to divert them from drugs and crimes. The likes of Henry Nwosu, Daddy Showkey etc speak at the training.”

    The APC candidate said teachers interest would not be compromised. He called on them to lead the vanguard for a better Ajegunle community.

    “We have reached out to teachers, non-indigenes by giving them councillorship slots. We have a councillor representing the interest of the Southsouth, Southeast and have promised the Arewa the position of Liaison Officer with the council.

    “My deputy is from the Igbo extraction, Madam Nkem Igwe. With this, we have been able to reach out to interests that constitute Ajeromi-Ifelodun council with that we gained their confidence.

    Ayoola said Ifelodun/Ajeromi would be rid of crime and corrupt tendencies.

    “It is not a Nigerian thing alone, it has even attained global phenomenon. We need the collective effort of concerned people to nip it in the bud. I think it’s equally not right for people to keep asking for what they do not deserve.

    “The scarce resources available must be judiciously used and explanation must be provided to the people how their money is being spent. That is to say that if we can apply the budget simply to what it is supposed to achieve, I believe that will be in great way to narrow down the cases of corruption.”

    He explained that the council would look inward to generate its revenue, stressing that friction arising from revenue collection would be minimised.

    “The past administrations have issues with lock up shop owners. They had problems with the Igbo marketers and being a home boy, someone who was born and brought up here, I promised to look into the areas of disagreement and promised.

    “I thank God that they have been listening to our appeal, in fact they gave N2 million to the council out of the backlog owed the previous administration. We will open up roads; waste to wealth will be given attention.”

  • Eid-el-fitr: Osun offers free train service from Lagos

    Eid-el-fitr: Osun offers free train service from Lagos

    The Osun Government says it will provide free train ride for its indigenes from Lagos to Osogbo during the Eid-el-Fitr holiday.

    The Commissioner for Industries, Commerce, and Co-operatives, Mr. Ismaila  Jaiyeoba-Alagbada, gave the information in a statement on Thursday in Osogbo.

    Jaiyeoba-Alagbada said the free train would leave Iddo terminus in Lagos to Osogbo on Saturday, June 24 by 10 am and return to Lagos on Tuesday, June 27 by 11 am.

    He said the train would also pick passengers along Ogun and Oyo corridor.

    Jaiyeoba-Alagbada said the service was in continuation of the commitment of Gov. Rauf Aregbesola’s administration to making life more meaningful for the people of the state.

    According to him,  the free train service, which commenced in 2011 during festive periods, is also aimed at facilitating a stress-free homecoming for the people during the festival.

    The commissioner urged indigenes of the state who wish to come home to celebrate Eid-el-Fitr to make use of the opportunity of the free train service.

    “We encourage holidaymakers to use this opportunity to update themselves on the developments that are taking place in the state.

    “The Aregbesola administration, regardless of the negative hate campaigns of those that are threatened by its massive pro-people policies, has created an enduring legacy of service.

    “We have taken service to the people to a new height that will be impossible to reverse. We have opened up roads and we have built schools that many find hard to believe are possible in this part of the world.

    “We have renewed our urban settlements to attract investors. These and much more would be the spectacles to behold when they visit Osun,” he said.

  • Chamber of Commerce hails Executive Order on Ease of Doing Business

    Chamber of Commerce hails Executive Order on Ease of Doing Business

    The Lagos Chamber of Commerce & Industry (LCCI) has hailed the Executive Order aimed at changing the ways business are conducted in the country.

    In a statement signed by LCCI President, Mrs. Nike Akande, the Chamber appreciated the level of consultations on ease of doing business that preceded the signing of the orders.

    The statement maintained that the three main pillars of the executive orders namely promotion of transparency and efficiency in the business environment, support for local contents in public procurement by the Federal Government, and efficient operation and implementation of the federal budget, have been key focus areas of LCCI advocacy campaign over the last few years.

    LCCI noted that the executive orders will impact the ease of doing business, fast-track budgetary administration as well as promote made in Nigeria products. It urged the government to ensure that stipulated timelines are strictly adhered to by all the parties affected by the orders.

    It further asked for continued consultations and engagement with the business community and the bureaucracy in building understanding and buy-in of all stakeholders.

    The advocacy group pledged their preparedness to track the compliance with these orders by relevant Ministries Departments and Agencies (MDAs) with follow up compliance and report outcomes and feedback from private sector players on an ongoing basis.

    LCCI called on the State Governments to replicate these reforms as applicable in their respective state. According to the statement, this is required to complement the efforts of the Federal Government on Ease of Doing Business in Nigeria.

  • Railways: Enhancing Nigeria’s corridors of commerce

    It is a truth universally acknowledged that a developing nation in possession of a large population must be in want of a robust transport system. (Forgive me Jane Austen).

    There’s at least one concerted-effort activity that every free, hale and hearty Nigerian does every day and that is, move. From home to school, to the market, to the office; from neighbourhood to neighbourhood; from one state to another; from city to village and vice versa; from one country to another, and so on. We are always on the move and the largest chunk of this movement is by road, whether on foot, bicycle, tricycle, “okada”, by car, bus, “molue”, you name it. Not surprisingly, the roads are usually congested. Given that many destinations are land-locked, the road appears to be the most convenient and economical way for the majority of people to complete their journey. But there has to be a more efficient, land-based, affordable mode for mass transit and there is: rail. The railway is a somewhat unexpected solution provider for seemingly unrelated social and economic issues, and it could well be instrumental in fomenting a much needed industrial revolution here, as it has done in other countries.

    A fully-functioning railway network is not only useful for moving an assemblage of people from Point A to Point B, it’s also effective for transporting cargo, improving distribution logistics, decongesting traffic, boosting trade nationally and internationally, enhancing tourism and even improving inter-tribal understanding. When compared to the bulk goods movement capacity of road vehicles, rail ranks higher in safety, speed, size of cargo hold, scalability (extra train carriages can be added to a locomotive manned by one driver with one attendant), and strength in terms of durability.

    One way to improve the competitiveness of our exports is to have a full-bodied nationwide railway system that can be efficiently operated on lean margins. An intercontinental rail network would be even better. It doesn’t hurt to dream, but let’s walk before we run. According to the 2016 Economic Outlook published by Economic Associates, approximately 58% of our non-oil income is generated from four industries: trade, crop production, real estate and telecoms & info services. The revenue generated by these sectors could grow exponentially if we had a robust railway system. (Assuming there is stable power supply that would complement production efforts rather than a convulsive one that frustrates the best of intentions).

    While new rail tracks are laid and existing ones are expanded, gas pipes and cabling for telecoms or electricity transmission, can be laid at the same time. Yes, such infrastructural undertakings are expensive, but then so are the mental, physical, social, economic and environmental costs of sitting in traffic for 12 hours because of an overturned trailer. And besides, such mammoth infrastructural projects are excellent opportunities to attract irreversible capital input from abroad.

    Since the first construction of a railway in Nigeria just before the 1900s, we have built rail lines that go from Lagos to Kano; Port Harcourt to Kano; Port Harcourt to Aba; Abuja to Kaduna, and so on. Lagos also has an intra-state rail system. Unfortunately not enough attention was given to rail transport from the mid-1960s till recent years. Now however, there is a move to modernize existing railroads and build new ones to international standards, so much so that we are likely to have standard gauge rail, at least, from Lagos to Kano; Lagos to Calabar; Kaduna to Abuja; and Itakpe to Ajaokuta to Port Harcourt. But ideally, we should have railway service to every city, town, or hamlet with a population in excess of 500 people. Allowing the private sector to take over the railways will help achieve this goal.  Privatising the railways will raise the much-needed revenue for governance, improve our time to market and increase the fiscal competitiveness of our locally made goods. It makes one wonder why the 1957 Railway Act, slated for amendment since 1999 has not been attended to by members of the National Assembly.

    On the website, corridorsofcommerce.com, the US-based transport network, BNSF Railway, highlights the economic, social and environmental benefits of using trains to move “agriculture, raw materials and finished goods”, over a distance of 3,422 route miles within an area covering parts of the USA and Canada, which it refers to as the Great Northern corridor. “In 2009, the Great Northern moved over 124 million tons of freight. It would take over 4.9 million long-haul trucks on highways to move that much freight. The Great Northern saved over 570 million gallons of fuel and over 6 million tons of greenhouse gases.” Now fast forward to Nigeria and imagine what it would mean for our GDP if we could do the same here.

    Currently, Lafarge uses the railways to move cement from Ogun State to other parts of the country.  As our national rail infrastructure is built up, other companies will be able to embark on a similar modal shift away from transporting industrial-capacity or wholesale goods by roads, to moving those same items by rail instead. When trains become the primary method for moving cattle, tomatoes, coal, petrol, sand, boulders and other such bulk inputs, confrontations between bovine drovers and agrarian homesteaders can perhaps be minimised, less agricultural produce would perish on the way to market, there would likely be fewer car crashes, and the roads would be a lot less crammed. Developers would benefit from an increase in the value of the land around the rail stations; entrepreneurs would benefit from a drop in the cost of doing business; young adults would benefit from an increase in employment opportunities; and government would benefit from an increase in the number of people able to pay tax, amongst other things.

    As a developing nation with a large population, we are in a sincere need of a robust, nationwide transport system. Perpetuating the delay in reviewing the 1957 Railway Act is ultimately self-defeating. As part of our strategy for sustainable economic growth, we need to give active, urgent, methodological attention to building up our railways.

     

    • Ms. Aboderin is a member of the Institute of Directors.
  • Enugu Chamber of Commerce hails Dangote Group

    Enugu Chamber of Commerce hails Dangote Group

    The Enugu Chamber of Commerce, Industry, Mines and Power (ECCIMA) has hailed the Dangote Group for establishing cement plants across Africa, describing the conglomerate as an emerging global player from Africa.

    President of ECCIMA Ugochukwu Chime spoke at the weekend during Dangote Group’s special day at the 27th Enugu International Trade Fair.

    He hailed the group for operating in almost every sector of the economy while adding value to the growth of the economy.

    Chime said more of Dangotes is what Nigeria needs to be an industrial giant globally, adding that the challenges facing the country presents opportunity to investors to do business in Nigeria.

    He said: “Dangote Group has gone beyond being a Nigerian conglomerate to an African conglomerate operating in many countries across the continent. It has demystified the production process, perfected backward integration and in years to come will become a global player, deepening the creation of wealth and employment generation.”

    “Dangote business and entrepreneurship indulgence has spread to many parts of the African continent, employing thousands of people across the world of which not less than 85 per cent are Nigerians.”

    Regional Sales Director, Southeast, Dangote Cement, Tunde Mabogunje, who led the Dangote Group team, said the group grew from a trading company to an integrated manufacturing conglomerate and succeeded in making Nigerian self-sufficient in goods that were imported in the past.

  • Boom time for electronic commerce

    The transition from brick-and-mortar businesses to “clicks” business is happening in all sectors of the economy. It is now possible for businesses to operate without a physical structure. Employers and employees can conduct all communication via mobile phone through either voice call, short message service (SMS) or email. The internet is a new frontier that has further facilitated the operation of virtual offices, TONIA ‘DIYAN reports.

    •Midnight online car searches increase

    A few years ago, the only way Bade Badejo could buy books was for him to go to a bookstore.  To purchase clothes meant a trip to the boutique. He traded in stocks through brokers only and bought cars visiting car marts, test-driving cars from one dealer to the other.

    Today, he has realised that businesses are coming to his doorstep. He has also realised that a number of companies and large warehouses have successfully managed to put up an electronic outlet to challenge traditional businesses.

    Badejo recently added a new member to his family and decided to purchase a bigger car. He works full time with his wife and two young kids at home, so going from dealer to dealer is not an option. Badejo, who joined the growing number of car buyers researching vehicles through the Carmudi app, an online vehicle marketplace last month, picked a Nissan Navara LE 2013 and quickly got in touch with a dealer in Abuja to set up a test drive. Within 48 hours, he bought his Navara LE for a competitive price.

    Late night car searches are a growing trend with more than 40 per cent of global car buyers now searching for cars – between 5pm and midnight. With ecommerce booming, and increasing use of mobile phones to make purchases online, how people buy major goods is shifting.

    Traditionally, consumers purchase cars after visiting several dealers and test drive dozens of vehicles. With the average car dealer closing by 6pm, car buyers are now able to save valuable time by researching car brands, and shopping for the best price from within the comfort of their own homes. From arranging test drives to applying for financing, majority of the purchasing cycle takes place online.

    Dealers continue to play a vital role in the process, particularly when it comes to test driving.

    With a staggering 80 per cent of new cars and almost 100 per cent of used cars, customers begin their car shopping experience online, enabling buyers to find their dream car at any hour of the day. This is according to a research conducted by Carmudi, an ideal platform to find cars, motorcycles and commercial vehicles online. The research revealed that car buyers around the world and especially in Nigeria search for cars mostly late at night.

    According to the research also, car buying experience has remained stagnant for decades, but in the world of AMAZON and UBER, the car classified market is ripe for disruption, starting with the ability to find dream cars at midnight from the comfort of a couch. It is now easy to browse and search thousands of car listings on www. Carmudi.com.ng or download the Carmudi app.

    Another insight gleaned from the Carmudi data shows that car users are transitioning from searching for vehicles on a desktop, to using mobile apps, most notably in the evening hours.

    During working hours, only 15 per cent of consumers visit Carmudi via the mobile app, but from 6pm to midnight more than 55 per cent of visitors search for cars on their mobile app, as opposed to their computer.

    Generally, industries are moving all of their operations online, as it becomes clear that the Web, not constrained by geographic boundaries, is a more efficient vehicle for their services and allows them to work on a truly global scale. People are currently able to pay their bills, write and cash checks, trade stocks, take out loans, mortgage their homes and manage their assets online. Money as we know it may cease to exist, replaced by more convenient technologies such as smart cards and digital cash. Intelligent programmes will take care of the financial and logistical aspects of the interactions between both the individuals and the corporations who populate the Internet. All that a person needs to do shopping is a connection, a computer, and a digital form of payment.

    Traditional “brick and mortar” stores are already being replaced by a multitude of electronic store-fronts populating the Web. No single brick-and-mortar store can offer 50,000 products, but an online store has the capability to offer a limitless number of them. There are services for finding the best deal on items for consumers. An increasing amount of consumer information, such as consumers’ testimonies, product overviews, comparison charts, is being made available, leading to better deals for customers.