The Nation Newspaper

Tag: competitiveness

  • Wigwe: AI, analytics aids banks, competitiveness

    Leveraging technology, such as artificial intelligence (AI) and utilising data analytics, is imperative if banks and financial technology (fintechs) are to remain competitive, the Group Managing Director/Chief Executive Officer, Access Bank, Mr Herbert O. Wigwe, said at the weekend.

    Speaking on The future of Intelligent Bank at AFF Disrupt 2019 held at Landmark Event Centre, Victoria Island, Lagos, he said, the world is witnessing the Fourth Industrial Revolution which uses the Internet of Things (IoT) and Cloud Technology to automate processes.

    This, he said, has enabled financial service providers to increase their digital offerings for customers so they can conduct banking transactions on mobile phones, the internet, and at the automated teller machine (ATM).

    The only waiting time today is how fast the internet connection is, Wigwe said, adding that 5G is already around the corner.

    He said: “With the prolific opportunities digital banking brings, banks are now competing on the nature of innovation that can provide solutions, handle and predict customer behaviour in an incredible fast manner. Even though banking has come this far, the future holds a lot more than what the past has ever held. Today, becoming an Intelligent bank is not an option, it’s a necessity; technology is redefining the way banks operate.

    “AI, Big Data, Cloud Computing, Virtual Reality, Cryptocurrency all bring enormous opportunities for banks to significantly improve the way customers access and manage finances.

    “Thanks to automation technology, banks and fintech’s are able to grant credit in seconds! AI reviews legal documents. A manual review of 12,000 documents use to take 360,000 hours, but today, this can be done in seconds using AI.”

  • Wigwe: AI, analytics imperative for banks, fintechs’ competitiveness

    Leveraging technology, such as artificial intelligence (AI) and utilising data analytics, is imperative if banks and financial technology (fintechs) are to remain competitive, the Group Managing Director/Chief Executive Officer, Access Bank, Mr Herbert O. Wigwe, said at the weekend.

    Speaking on The future of Intelligent Bank at AFF Disrupt 2019 held at Landmark Event Centre, Victoria Island, Lagos, he said, the world is witnessing the Fourth Industrial Revolution which uses the Internet of Things (IoT) and Cloud Technology to automate processes.

    This, he said, has enabled financial service providers to increase their digital offerings for customers so they can conduct banking transactions on mobile phones, the internet, and at the automated teller machine (ATM).

    The only waiting time today is how fast the internet connection is, Wigwe said, adding that 5G is already around the corner.

    He said: “With the prolific opportunities digital banking brings, banks are now competing on the nature of innovation that can provide solutions, handle and predict customer behaviour in an incredible fast manner. Even though banking has come this far, the future holds a lot more than what the past has ever held. Today, becoming an Intelligent bank is not an option, it’s a necessity; technology is redefining the way banks operate.

    “AI, Big Data, Cloud Computing, Virtual Reality, Cryptocurrency all bring enormous opportunities for banks to significantly improve the way customers access and manage finances.

    “Thanks to automation technology, banks and fintech’s are able to grant credit in seconds! AI reviews legal documents. A manual review of 12,000 documents use to take 360,000 hours, but today, this can be done in seconds using AI.

    “Blockchain can be used to execute smart contracts, eliminating manual costs of transactions;  Robotics technology is used to serve customers in banks. Only one decade ago, we could not have imagined such advances. And there is so much that can be done with data.

    “Big Data Analytics helps an intelligent bank understand its customers. This data categorises customers and analyses their behaviour and needs. Such understanding improves product development and enables effective cross and up-selling. Cloud Technology has also been a game-changer for banks. It reduces server and infrastructure costs, which is most appreciated in a country like Nigeria, where power generation is expensive, and its availability is not usually guaranteed. Cloud technology enables the delivery of work from any location … where programmers can be based in multiple countries yet be working on the same project.”

    According to him, intelligent banks are able to consider the impact of having an active online presence and social media for their business.

    Banks can target social media for specific advertising ensuring they provide the right product and content to the right customer instead of marketing all products to all customers.

    “In this sense, banking has become much more tailored and personal. Intelligent Banks partner with critical stakeholders to expand the frontiers of their business. For example, the opportunities that exist from partnering with Fintech’s are enormous.  Imagine instant cross-country payments between businesses that do not necessarily have a presence in those countries. Imagine third parties connecting to APIs to open accounts and making instant international payments. And partnering with Fintechs offers banks an opportunity to earn revenue from transaction sharing.

    “At Access Bank, we are acutely aware that AI is the new cool in banking offering ongoing opportunities to enhance convenience for our customers. We are in constant pursuit of being the best possible Intelligent Bank. Our applications of intelligent banking range from the review of legal documents, to conversing digitally with our customers. Our TAMADA system presents a single chatbot experience for all our customers.”

  • Ngige decries low productivity, competitiveness

    The Minister of Labour and Employment, Chris Ngige, has said despite the country‘s huge  human and natural resources, it  lags behind smaller and less-endowed African countries in productivity and competitiveness.

    Ngige stated this at a briefing ahead of  the 17th National Productivity Day and National Productivity Order of Merit (NPOM) awards scheduled for  Abuja.

    The minister said for the country to achieve high productivity and competitiveness, there was the need to bridge the productivity and competitiveness gap.

    He said: “So, real competitiveness means the ability to produce goods and services that can compete in the domestic and international markets while promoting and maintaining a high living standard and quality of life for the people.

    “Therefore, only nations with organisations that have high levels of productivity will become domestically and globally competitive.

    “This has the capacity to exploit existing market opportunities to sustain and expand employment and real income growth in the long term,’’ he said.

    He said the government was conscious of the critical place of productivity in the realisation of the change agenda, saying it was against this backdrop that the Federal Government, through the National Policy on Productivity, declared that a day shall be observed as the National Productivity Day yearly.

    Ngige said the observance of the day and the conferment of the award was a positive step by the government to institutionalise productivity consciousness and excellence in service among workers and organisations in Nigeria.

    He said the award committee was an independent committee that conducted a screening, recommended 15 individuals and five organisations drawn from all sector of the economy.

    Ngige said the awardees include:  Mrs Winifred Oyo-Ita, Head of Civil Service of the Federation, Mr Sam Ohuabunwa, Dr Abdul Husseni, Farm Crowdy Nigeria Limited and Fresh Direct Nigeria.

    Also, National Productivity Centre (NPC) Director-General Kashim Akor said selection of the awardees was done by a committee set up for the purpose of the nomination.

  • ‘Innovation key to Africa’s oil industry’s competitiveness’

    Sustained lower price of oil has been accepted as normal in the global oil & gas industry, with companies putting measures in place to enable a more agile response to commodity price fluctuations in the future.

    Instead of playing catch up with the rest of the world, Africa’s oil & gas industry should be learning to leapfrog and harness innovation and technology to stay ahead of the competition.

    These were the highlights of PwC’s Africa Oil & Gas Review 2017, which analysed what has happened in the last 12 months in the oil & gas industry within the major and emerging markets.

    The review, which was accessed by The Nation, said Africa’s oil & gas industry continues to face market challenges arising from the low oil price, competition for revenue growth and local talent together with new expectations from investors and regulators.

    “Africa’s oil & gas industry is experiencing significant change and upheaval. There are fundamental shifts in companies’ strategies, business models and ways of working,” PwC Africa Oil & Gas Advisory Leader, Chris Bredenhann, said.

    Bredenhann said for some, this means a diversification of portfolio, with many considering moves to an energy mix that includes some form of renewables. He said despite the challenges, there are a number of opportunities on the African continent.

    For instance, as at the end of 2016, Africa was reported to have had proven natural gas reserves of 503.3 trillion cubic feet (TcF), up one per cent in total gas reserves on the continent.

    Bredenhann added that about 90 per cent of African gas production continues to come from Algeria, Nigeria, Egypt and Libya though the overall quantity produced in 2016 reduced by 1.1 per cent down to 208.3bcm.

    He said Africa’s share of global oil production has continued its downward trend in the past four years, dropping sharply, moving down from 9.1 per cent last year to 8.6 per cent.

    According to the PwC review, the challenges in Africa’s oil & gas industry remained similar to those in previous years with uncertain regulatory frameworks, corruption, and tax requirements remaining in the top six for the past four years.

    “It is notable that financing costs and foreign currency volatility have both become more critical challenges since 2015 when they were ranked 11th and 10th respectively. It is disheartening that governments are not catching up with demands and calls from oil & gas companies to ensure regulatory certainty to players who are looking to invest in hydrocarbon plays in various African countries,” Bredenhann said.

    According to him, upstream regulation in South Africa remains uncertain, with the separation of oil & gas from mining still not achieved in the Mineral and Petroleum Resources Development Act (MPRDA).

    Other key markets in Africa, such as Nigeria and Tanzania, are also experiencing significant regulatory issues.

    The review also said corruption remained among the top three challenges over the last four years, with numerous instances occuring across the continent. It noted that despite the existence of anti-corruption programmes at government and corporate levels, the effectiveness of such programmes was questionable.

    “In the context of corruption issues, it is not surprising that the costs of finance have risen to third among major challenges for African players. It is likely that the regional issues and uncertainties combined with a constrained wider industry, have led banks and other institutions to be wary of offering favourable financing terms,” the review said.

    It further noted that the lack of skills development continues to be a problem in Africa, and it is becoming a global challenge in the oil & gas industry overall.

    The review said aside from the challenges highlighted by companies, adjusting to the new  lower oil prices remained a concern for companies.

    The oil price has been relatively ‘stable’ through 2017. Having recovered since the January 2016 low, it has typically been trading in the $50-60/bbl range.

    As the Brent oil price reached close to $60/bbl in September 2017, the market began asking whether ‘lower for longer’ may be over. The demand for oil is picking up, and supply is easing off, suggesting a market rebalancing is underway.

    The review, however, stated that as often seen with global oil prices, nothing is ever certain, adding that in response to many of these challenges, oil & gas companies are looking to alter their strategies and operating models, which has changed the competitive landscape.

  • Lagos, Delta lead competitiveness report

    Lagos State topped the first National Competitiveness Council of Nigeria (NCCN) report unveiled in Lagos at the weekend. It was followed by Delta and River states. Borno and Gombe states, however, were at the bottom with 36th and 37th positions respectively.

    NCCN Chief Executive Officer (CEO) Matthias Chika Mordi, said the report, which include the sub-National Index (SNI), ranked all the 36 states and the Federal Capital Territory (FCT) in four key areas:HumanCapital, Infrastructure, Economy and Institutions.

    Lagos was best in infrastructure and economy, but Borno and Zamfara were  poor in human capital, no thanks to healthcare and education issues.

    According to the report, all the states performed very well, in at least, one of the four themes, and 23 sub-themes.

    Mordi said the new SNI is a platform for research and discussion to boost the discourse on how to move the country from oil dependency, and embrace a diversified economy.

    ‘’The report also emphasises the importance of competitiveness at the state level, highlighting local and state governance, and the vital role each state plays in the overall path to job-rich growth.

    “In aggregate, Nigeria remains challenged in its competitiveness. We expect the SNI to have a catalytic effect in competitive state policies, which will ultimately lead to greater business productivity, resulting in job creation and poverty reduction,” he said.

    The NCCN said it collected data for the report in collaboration with the National Bureau of Statistics (NBS) and research groups while a total of 8,147 households were sampled.

    They also collected information randomly from 2000 private businesses and used probability proportional to size (PPS) within each sector. Of this number, 1820 businesses responded to the survey, representing a 91 per cent response rate.

    “The index is a culmination of 20 months of intense work. We’ve worked rigorously to ensure objectivity and transparency in our methodology, data collection, analysis and interpretation.

    “Where possible, we applied effective tools for cross-validation, and ease of replicability. It is by no means perfect, but we envisage improvements with subsequent iterations of the index,’’ Mordi added.

    Former Cross River State governor, Donald Duke praised the report, urging the states to be more productive.

  • How agric can boost competitiveness, salvage economy

    To pull the economy out of recession, the Federal Government and the private sector have been urged to pay more attention to the agric value chain to boost jobs and incomes for farmers, processors and retailers.

    This was the view of speakers at an agricultural seminar organised by Excel Multi-purpose Co-operative Limited and powered by  Redeemed Christian Church of God (RCCG), Lagos Province (LP) 4 and 48, in Lagos.

    The speakers urged Nigerians to tap into value chains to accelerate economic transformation through development of activities involving movement of  farm products from production centres to consumers.

    One of them, Chief Executive, Yeshua Papaya Farms, Bimbo Dada, stressed that production of value-added agricultural products would boost foreign earnings and wealth creation.

    Dada added that focusing on processing for local consumption and export would create millions of jobs and empower youths.

    He said: “Using paw-paw as a case study, one of its value added products is paw-paw milk called papain, which is untapped in Nigeria with its numerous potentials. Pharmaceutical companies are in high demand for paw-paw seeds and dried leaves. Other value added products include papaya jam, papaya jelly, papaya juice and yogurt, papaya leaf tea, papaya concentrates, papaya smoothies and even dried papaya fruits which can be consumed locally and even exported. This is just one of the numerous areas of agriculture which we can leverage on.”

    Another  speaker, Dapo Olakunlehin, urged processors to  satisfy local demand before attempting to export.

    He said: “I recommend agro-processing for everybody because you can determine the price of your products regardless of competitors’ activities. And just before we start talking about export, let us focus on what we will eat. It is after we can satisfy the local market then; we can talk about meeting international standard.”

    Assistant Pastor, RCCG’s LP 48, Bamidele Olurin, said the seminar was timely, with increasing focus on building youth interest in agriculture  as well as getting the aged involved. He added that an engaging and vibrant agric sector was capable of sustaining the economy.

    He, however, urged the government to make information on agricultural opportunities available to the masses as this would attract people to engage in the long-neglected sector and provide a headway for the economy.

    He said: “We find ourselves where we are today because we neglected so many other sectors in the country. We concentrated on the crude oil industry neglecting the non-crude oil sector. Now with the situation that we have in the country today, we realise that everybody has to go back to non-crude oil sector. We also realised that we cannot leave this to government alone. And as a faith- based organisation, in Corporate Social Responsibility (CSR), one of the things we can at least do is to provide information for the people.”

  • Costs impede agric competitiveness, says group

    High transportation costs are impacting on the competitiveness of the agricultural sector, the President, Federation of Agricultural Commodity Associations, Dr. Victor Iyama, has said.

    In an interview, he said many farmers were facing difficulties in moving their produce from the farm gate to the market.

    He said the impact of the fuel price hike had been significant, including a surge in commodity prices and high transportation costs.

    According to him, fuel prices were transmitted to produce prices via transportation costs.

    Fuel prices are significant in determining the difference between market and farm gate produce prices.

    According to him, there was need for intervention to reduce the cost of transport, adding that farmers faced problems which affected their  contributions to the economy and in creating more jobs.

    He urged the government to  create local transportation and distribution corridors.

    He said the implementation of private-public partnerships (PPPs) and joint ventures were critical in the sector and that farmers needed to be supported to produce on a large scale and feed the local manufacturing and processes sectors.

    Nigeria’s huge agricultural potential, he noted, holds the promise of covering much of the nutrition needs, but that the country is hampered by lack of infrastructure.

  • Boosting global competitiveness through service delivery culture

    Boosting global competitiveness through service delivery culture

    Despite Nigeria’s huge customer base, leveraging on quality service delivery culture to build brand equity remains a herculean task for most businesses. But The Workplace Centre Limited (TWPC), a human resource and information technology consultancy firm, is set to reverse the trend. TWPC is  to host business managers, chief executives and social entrepreneurs to its customer service training. The aim is to provide insights into consistent service delivery strategies that will revolutionise customer service culture. Assistant Editor OKWY IROEGBU-CHIKEZIE reports.

    Most successful global brands are built on a track record of excellent service delivery culture. But this is not the case in Nigeria where, despite an intimidating customer base of about 170 million, most companies and businesses have not been able to make their products and services irresistible.

    The verdict by brand analysts and managers is that Nigerian entrepreneurs, despite being acknowledged globally for their tenacity and ‘can do spirit,’ have not been able to ride on the platform of a robust service delivery culture to build brand equity.

    This much was confirmed by a recent ‘Africa’s Top 50 Companies’ published by African Business Report, in which only seven Nigerian companies made the list. The survey, which jolted not a few business owners, brand experts and stakeholders, added that many local brands failed in according their customers the required excellent service delivery. The belief is that when compared to some businesses that invest immensely in excellent customer service strategies, Nigerian businesses still have a long way to go. The ‘care-free’ attitude of most brand managers and chief executives is said to be largely responsible for the poor level of patronage of local brands.

    But the situation appears set for a reversal. The Workplace Centre Limited (TWPC), a human resource and information technology consultancy firm, has concluded arrangements to engage managers, supervisors and client interfacing executives on how to make strategic decisions to transform their organisations’ customer relationship management and to emotionally connect and add value to every interaction. Specifically, the firm is set to host business managers, chief executives and social entrepreneurs to its customer service training scheduled for the 24th of this month, in Lagos.

    The training is aimed at providing insights into consistent service delivery strategies that will revolutionise customer service culture in Nigeria.

    The forum, tagged: “The Customer Amazement Revolution Master Class” will, according to its organisers, expose participants to current trends in customer service relations, drawing from the wealth of experience of speakers, including Shep Hyken, a customer service expert and the award winning author of books, such as The Amazement Revolution; Benjamin  Ola Akande, the 21st president of Westminster College, Missouri, United States; and the immediate past Dean, George Herbert Walker School of Business and Technology, Webster University, among others.

    To meet the increasing demand for quality customer service, co-founder and Managing Partner, TWPC, Mrs. Bola Adeniyi-Taiwo, urged business owners, managers and social entrepreneurs to join hands with her company, which offers unparalleled quality services in its areas of expertise, to promote the much-needed amazement revolution in customer service delivery.

    She expressed optimism that if stakeholders in Nigeria heed the call for a consistent amazing customer service, more consumers of goods and services within and outside the country would increase their demand for products, which would in turn reduce  unemploymen in the country. This, she noted, will help the nation gain global competitive advantage.

    Adeniyi-Taiwo, who emphasised that TWPC is guided by strong values and high ethical standards, said the company’s mission is to provide innovative solutions and excellent services that maximise client’s return on investment. According to her, the best way to do that is not to view customer service as a cost, but as an investment in building future and long lasting relationships that would create customer evangelists.

    Quoting Shep Hyken, she said: ‘Hitherto, one unhappy customer would tell 12 people about his experience. Now, one customer may have 500 Twitter followers to spread the message to.”

    For Tobi Oni, a stakeholder, the theme of the forum is “apt and timely.” According to him, there is no better time for such a thought-provoking event that is designed to change the face of service delivery in Nigeria and Africa at large. He noted that apart from several economic challenges, thousands of Nigerian businesses have collapsed due to the inability of their owners to manage stardom by adopting amazing customer service culture that can give their customers reasons to come back. “I expect owners of dead and living companies to attend the TWPC training and specifically learn from the masters (Hyken and Akande among others). We should start looking forward to practicing the much needed consistent service delivery system,” he told The Nation.

    Mr. Oni is right. Not a few industry experts and stakeholders agree that the importance of quality customer service training cannot be overemphasized for businesses regardless of their sizes, services or market focus. As Adeniyi-Taiwo pointed out, for instance, “The most successful companies take customer-service farther by applying it directly to their employees. When a service or sales team regards and treats one another with the same consideration and respect that they would offer the customer, amazing team spirit is created and the overall work dynamic of the establishment is improved.”

    She, however, added that there are certain skills, tools and priorities that are essential to the growth and development of amazing customer service. “We must have the technical knowledge, financial and material resources as well as the required infrastructure and up to date technology to attend proactively to our customer’s needs. The benefits that excellent customer care skills provide to every business are endless,” she noted, adding that not only can it make the difference between an immediate sale or lack, thereof, it can also make or break a potential long term client relationship.

    The TWPC Managing Partner further stated that all things being equal, almost everyone will choose the company that recognises and meets their needs consistently over the one that does not. She said when dealing with quality customer service, the most immediate and important factor is establishing an orientation of respect, which is one element that is immediately felt by the consumer. “This alone can lead a hesitant customer to make an instant purchase or cause them to walk right out of the door. After the respectful attitude is established, then it is vital to anticipate and very importantly focus on the customers’ needs. This is when active listening skills are essential,” she admonished.

    Indeed, such admonishment could not be timelier. At the moment, Nigeria is largely perceived as a nation where businesses/factories are commissioned daily, without adequate plans to relate the sustainability of the business to customer relationship management. Nigeria and Africa consume mostly imported products and always rate their service delivery higher. This, according to customer service experts, hinders Africa’s quest for cultivating unparalleled quality of its service delivery.

    “We are basically a consuming nation; we applaud service delivery of foreign brands and multinationals because we have failed in ours. We praise others for doing what we can do to protect and secure the future of our brands. I believe several local brands can compete internationally if only the correct measures are put in place,” Gbenga Osho, a former manager with one of the defunct local fast food outfit, said.

    Interestingly, these are issues that will engage the minds of participants and resource persons at the training.  Already, world’s number one customer service guru, Shep Hyken, has given his words that ‘The Customer Amazement Revolution Masterclass’ would engender more competition among businesses within the same segment leading to positive change in the perception of service delivery in Nigeria.

    Founded in February 2013, TWPC is a state-of-the-art skills development centre that provides employability and entrepreneurial skills develop-ment as well as human resources and ICT services to its clients.

  • Promoting cashew farmers’, processors’competitiveness

    Promoting cashew farmers’, processors’competitiveness

    A cashew stakeholders forum organised by the United States Agency for International Development (USAID)’s Nigeria Expanded Trade and Transport Project (NEXTT) in collaboration with African Cashew Alliance (ACA) took place in Ilorin, the Kwara State capital. The forum focused on ways to promote industry growth, DANIEL ESSIET reports.

    Thousands of Nigerians are engaged in the cashew industry. Most of them are farmers who cultivate the crop, while others export the produce to countries, such as India and Vietnam. The nation’s annual production of raw cashew nuts stands at 144,000 tonnes. Approximately 50,000 persons are engaged directly in the processing of cashew, and another 100,000 are engaged in the growing of the produce.
    Experts say there is a prospect of the industry creating over 50,000 new jobs in four years and injecting over N2 billion into the economy. However, there are constraints farmers and exporters face that undermine the efforts to realise the full trade potential through cashew export.
    The constraints include barriers that impinge on trading, lack of access to finance, information and capacity for growth is limited. Adding to the problem, is the fact that only 10 per cent of raw cashew production undergoes further processing.
    Despite these, the Executive Director, Nigerian Export Promotion Council (NEPC), Mr Segun Awolowo said cashew remains a big foreign exchange earner which has to be repositioned in the face of the declining crude oil price that is now more vulnerable to external shocks.
    Addressing the forum on cashew business competitiveness and environmental sustainability, co-sponsored by USAID Nigeria, (NEPC) African Cashew Alliance (ACA), in partnership with the National Cashew Association of Nigeria (NCAN) in Ilorin, Awolowo, who spoke through the Deputy Director, Product Development Department, Mr William Ezeagu, said cashew has been identified as one of the major cash crops with huge export potentials for the country.
    The cashew industry as a whole, he observed is still dogged by issues related to quality. Much of the problem with quality and safety issues, he continued, related to the large proportion of smallholders within the industry who lack the finances and ability to invest in modern technologies and innovate. Aflatoxins contamination, he noted is a trade issue, which needs to be tackled with urgency. He said the contamination imposes an enormous economic cost as it prevents commodities from meeting international regulations and standards governing agricultural trade and food safety. He, however, said awareness on the deleterious effects of Aflatoxin is fast rising and there is increasing demand by country stakeholders for action. Awolowo said NEPC is working with the World Trade Organisation(WTO) on preventive measures to address the issue that has lead to rejection of the nation’s cashew export.
    He said as a country, post-harvest handling of produce should be taken seriously and farmers educated on how to mitigate Aflatoxin contamination. He said businesses must heed more attention to improving it for the industry to develop sustainably over the long term.
    Business Advisory Manager, African Cashew Alliance, Mr Sunil Dahiya, said while Africa currently produces 40 per cent of the world’s supply of cashew nuts, it operates just a handful of processing facilities. He said cashew farmers and processors face difficulties complying with market requirements and lack the technical and financial means to produce cost-effective goods inz sufficient quantity and required high quality. As a result, when profitable new market opportunities arise, they are unable to be accepted as suppliers. This, he noted has given the alliance great concern. To end, he said ACA is focusing on building the capacities of cashew farmers and exporters to meet international quality standards through training on good agricultural practices to increase yields and quality. He said ACA has developed a capacity building programme to enables suppliers to meet the internationally recognised requirements in terms of food safety and quality. Through a combination of strategies, he said the alliance has been able to reach thousand s of farmers and processors, leading to the creation of new jobs in cashew nut processing, with 70 per cent of them for women. He said ACA has implemented sustainable pilot projects in several countries, where suppliers have achieved considerable improvement in their performance and compliance with food safety standards and Good Agricultural Practices (GAP). As a result, the quality and volume of marketable products has improved. At the same time, consumers have benefited from better and safer products and can expect more stable food prices.
    He said start-up processors are provided with a range of advice on how to grow their business, keep up with current market developments, improve their use of technology and expand processing of cashew by-products.
    The Managing Director, KD Food Processing Company Limited,Mr Garba Dikko said the lack of adequate knowledge on cashew financing by officials of banking institutions and farmers seriously affected fund raising to support agriculture in the country. He said the lack of knowledge about the specific financial needs of cashew farmers made the financial institutions to offer the same financial package to all farmers which often led to the disadvantage of many. He called for the development of different financial packages for different farmers groups engaged in different types of agriculture to meet their specific needs. With high cost of infrastructure, maintenance and electricity, he called on the government to protect local cashew processors and producers. Dikko said so much is required to establish a functional cashew processing plant. Dikko called for support for cashew processers to bring down production costs. Urging the government to offer assistance to farmers to improve production, he said poor productivity of cashew plantations is one of the major reasons behind the cashew nut processing sector performing at below capacity.
    The President,National Cashew Association of Nigeria(NCAN),Mr Tola Faseru said the nation’s cashew sector has enormous potential for businesses seeking to invest in the crop. He disclosed,however, that the sector is however suffering from declining productivity and dwindling export earnings because of structural problems. As a result, Nigerian cashew is less competitive in the international market . He called on the government to establish a N50 billion cashew development fund to support the industry . With such fund, he said it would be possible for the industry to achieve the target of 500,000 metric tonnes per annum. Faseru said the association is sensitising farmers across the country on quality control to enable them to enhance their product quality. Faseru called for more support for farmers and for government’s assistance for to develop more cashew plantations. The NCAN chief said if the cashew crop was processed locally, new direct jobs would be created by more than 1,000 businesses that would arise from the industry and millions of naira would be realised. This possible outcome is what is driving the campaign of the association to boost cashew production nationwide.
    The Director, Real Sector Department ,Nigerian Investment Promotion Commission (NIPC),Mr Reuben Kifasi said the cashew sector has many gaps and challenges, thereby providing opportunities at different levels for foreign investors to explore. He said there are some incentives and tax holidays for investors seeking to take advantage of investment opportunities which abounds across the agric sector. The need for high capacity processing plants, warehousing facilities, he said, are just some of the opportunities that investors can look at. He said NIPC is supporting sector players in developing coordinated efforts to mobilize domestic and foreign direct investment and enhance private sector development.
    The Director,Cluster Development Department,Raw Materials and Development Council,Mrs Haraja Tanko said cashew is a big business and that the government is supporting it because the potential of the industry has not been fully harnessed. Mrs Tanko said raw materials council is working towards boosting cashew nut production by the establishing three- processing plants and giving improved seeds to support farmers . The Acting Chief of Party, COP Nigeria Expanded Trade and Transport (NEXTT) ,Engr Isaac Adegun said the development of the industry would not only help diversify the agriculture sector and enhance the national economy but would also be a good way of tackling poverty. To this end, he said the project is aimed at improving and expanding Nigeria’s trade efficiency domestically, within the region and beyond, so that trade, particularly in agricultural products, supports inclusive economic growth and the development. With improved support of USAID|NIGERIA through the NEXTT project, he said assistance to the cashew sub-sector has been scaled up to the level of offering technical assistance at both the organisational and firm level.
    He reiterated that NEXTT is more committed to improving the processing arm of the sub- sector owing to its enormous potential of creating thousands of jobs and also contributing to macroeconomic stability through increased export earnings.
    He said USAID has concluded a study on the Nigerian cashew industry, adding that steps will taken based on it to improve cashew business competiveness and environmental sustainability.
    The SEAL Coordinator, ACA, Mrs Dorcas Amoh, said more demand for cashew, combined with buyer demand for product that is Seal-certified, is increasing sales. The certification, she said ensures quality for buyers, recognition for processors, and stability for farmers.
    According to her, ACA Seal offers returns for all cashew stakeholders. Mrs Amos said without adequate waste collection services, she said cashew waste can carry health risks for workers at processing facilities and local communities. She said the plan of the alliance is to assist farmers to use waste materials for their businesses and communities in other ways.

  • Diamond Bank chief urges technology adoption for competitiveness

    Diamond Bank chief urges technology adoption for competitiveness

    The Managing Director/CEO of Diamond Bank, Uzoma Dozie, has called for technology collaboration between business and the academia as a cost-effective way of enhancing Nigeria’s global competitiveness.

    Speaking at the Future Ready University Conference and launch of a mobile learning Experience Centre, financed by the bank at the Covenant University, Ota, Ogun State, he said the time has come for the two to collaborate to push operating cost that is always on the increase.

    Other partners in the project are Softcom, Samsung Business and MTN Business.

    Delivering a keynote on “Why Financial Institutions Need to Play a Role in Digitising the Educational System,” Dozie said Future Ready is about being competitive to meet global needs, arguing that this could only be achieved only through the deployment of technology.

    He said: “From our experiences as a leading retail bank driving the integration of innovative solutions to meet modern lifestyle demands of our wide and diverse customer base, we know that technology offers better economy of scale as well as less expensive, more effective solutions.  This is the model we are trying to replicate in education in Nigeria.”

    He added that the Future Ready University initiative is a home-grown initiative designed to bring education in Nigeria into the 21st Century. ‘‘Many Nigerian parents send their children to schools abroad because the system is supported by technology that helps them keep track of their progress. With effective monitoring, stakeholders can pro-actively plan the education system to train manpower for the future of industry which ultimately leads to cost reduction in the long term,” he said.

    Speaking on the occasion, the Vice Chancellor, Covenant University, Prof. Charles Ayo, also noted that the future of employment in a globalised world is not based on quota but on the possession of the requisite skills. “Recognising that the 21st century student wants knowledge on the go and also wants to be an active partner in the learning process, Covenant University has adopted a problem-based learning approach that encourages students to seek out queries on their own for collective problem sharing and solution formulation. The result is that our students are more motivated to learn, collaborate in knowledge sharing and solution-centered.

    “The Future Ready University programme plans to expand this vision to every Nigerian student so they are not limited by physical spaces in the quest for knowledge; and that they have the best tools and skills to succeed.”

    Explaining the motivation behind the Future Ready University, Managing Partner, Softcom, Yomi Adedeji, said today’s students are largely spontaneous, interactive and heavily distracted. For educators to reach them, learning must provide engagement, exposure and evolving content.