The Nation Newspaper

Tag: firm

  • Firm connects car owners with mechanics

    Mechville.com, an online platform dedicated to connecting car owners with auto technicians, has made a debut in Lagos.

    Already, over 50 certified auto technicians are on the platform, providing top-notch auto services to car owners that have signed on to the service at very competitive charges.

    Partboyz Auto Parts Limited, owners of Mechville.com, said plans are on to launch a mobile app for the service as well as expansion moves to other parts of the country. Its Managing Director,  Mr Olu Okusanya, said Mechville.com is fast becoming the first choice of discerning vehicle owners across the nooks and crannies of Lagos for its best service deals.

    “At Mechville.com, we make it easy and affordable to maintain your car by connecting you to the right professionals. With more than 50 automobile technicians across Nigeria, you can locate mechanics closest to you, call and ask for quotes to help you pick the best professional for your car repair,” Okusanya said.

    Disclosing that Mechvile.com works in three simple ways, the Partboyz Auto Parts boss said: “Mechville works in three simple steps. Simply log on to the site and describe what’s wrong with your car. Then choose a technician that is closest to you or that’s best suited for the job. Your car is fixed and you can rate and review the job done.”

    Okusanya maintained that Mechville.com has continued to grow its clientele because of the services provided by the technicians on the platform and the testimonials of satisfied customers.

    He said: “Mechville.com offers a win-win service as both our technicians and customers are daily expressing satisfaction at the values being provided by the platform. For the mechanics, who are specialised in broad areas of auto repairs and services, Mechville has been of immense benefit as customers find it easy to locate them for quick business. And for the car owners looking for urgent and immediate attention to their vehicles, all they just need to do is to log on to the platform to locate the nearest service provider to them.”

     

  • Firm sponsors dealers on Indian trip

    In continuation of its tradition of rewarding its esteemed trade partners for excellence and partnership, Wandel International, flagship company of the Simba Group, and sole distributors of Luminous inverters and power backup solutions in Nigeria, has rewarded 30 of its top dealers with an all-expense paid trip to New Delhi, the headquarters of Luminous Power Technologies in India.

    Luminous Power Technologies, a Schneider Electric company is the leading power and home electrical specialist in India having a vast portfolio comprising of power back up solutions such as Inverters, UPS, Batteries and Solar Applications. The company also enjoys the leadership position in the inverter industry in Nigeria.

    Speaking about the trip, the head of the Luminous Inverter Business at Wandel International, Mr Rajneesh Gupta, explained that the company decided to take its top dealers to India, both as reward for maintaining market leadership in Nigeria, and to engage with senior technical personnel from the company’s Research and Development centre in India.

    He explained that the Dealers are part of the over 60,000 strong dealers network of Luminous in more that 36 countries across the globe. He added that the visit to Luminous Technologies Headquarters is in tandem with the focus of the company on Execution and Team-work and the vision of the company to delight customers through innovation and Passion.

    Recounting their experience, some of the trade partners described the trip as a once in a lifetime opportunity. They noted that they had the opportunity to engage with senior management, learn about technical developments in the Industry, and understand how to better serve their customers back home.

    The Managing Director of Maduson Global Resources, Chinedu Maduagwu, who recently returned from trip said “this is the most memorable trip I have ever gotten from any company since my venture into the energy business and I appreciate my partnership with the company”.

     

  • Firm’s N2b suit against bank for Nov. 16

    A Lagos State High Court, Igbosere, has adjourned till November 16, a suit by Infinity Snacks and Beverages Ltd, seeking N2,076,801,430.42 from Stanbic IBTC Bank as damages for alleged breach of contract.

    In the suit filed by its counsel Olumide Sofowora (SAN) before Justice A. M. Lawal of a Lagos State High Court, Igbosere, the firm said it suffered economic misfortune from the bank’s conduct.

    According to its December 23, 2016 statement of claim, it said it received approval for a N934,029,835 loan for factory expansion from the Bank of Industry (BOI) Ltd on August 19, 2014.

    BOI required a bank guarantee as one of the conditions for the loan and the firm sought this from Stanbic IBTC Bank, “which was not issued until December 22, 2015, about four months after the approval of the loan by BOI.”

    BOI disbursed N864,420,000 into the bank’s account in the firm’s name on May 9, 2016, but, according to the firm,  Stanbic IBTC did not inform it until May 17, 2016.”

    The firm said it immediately mandated the bank to bid for foreign exchange for the purchase of the needed machinery for its expansion.”

    It claimed that the bank put “stumbling blocks” along the way by tying the BOI loan to its own loan portfolio granted to the firm.

    However, the defendant, in its statement of defence filed through its counsel, Mr Paul Usoro SAN, rejected the plaintiff’s claims.

    It said: “The defendant denies that there was an initial approval from BOI and states that rather what the claimant received was an indicative offer from BOI of its intention to grant the claimant’s loan request of the sum of N934,029,8350 subject to the claimant fulfilling the conditions for the grant of same.

    “…the defendant states that it did not hold back but swung into action almost immediately the claimant notified it of BOI’s indicative offer, request for a Bank Guarantee (BG) and a letter of intent on behalf of the claimant from a reputable financial institution, amongst other conditions precedent to granting the claimant the BOI facility.

    “The defendant avers that on the contrary it is the claimant who failed to meet up the defendant’s pre-conditions for issuing a bank guarantee in its favour.”

  • Kebbi governor’s wife praises firm

    The wife of Kebbi State Governor, Dr. Zainab Bagudu, has lauded WACOT Limited, an agro  production  company, for its contributions to the development of the state.

    She gave the commendation when she visited the company’s rice factory in Argungu, Kebbi State.

    The rice mill was inaugurated by the Vice President, Yemi Osinbajo, in company of Governor Atiku Bagudu and other top government functionaries on August 1, this year.

    Commending the company for the development the factory has brought to Argungu community and Kebbi State,  Dr. Bagudu, whose delegation included the wives of the governors of Ondo and Zamfara states: Mrs. Betty Anyanwu-Akeredolu and HajiaAsma’uAbdulAziz Yari among others, said: “I thank the management of WACOT for their support for the Kebbi State government and the impact and development they have brought to the state. I urge you to continue to operate in the cordial and peaceful manner with which you relate with the people, to create more job opportunities for our youths”

    Dr. Bagudu also flagged off a new corporate social responsibility (CSR) initiative of WACOT Limited tagged “Pick a Bag”, which was instituted with the aim of providing clothing for the underprivileged in their communities of operation.

    For this, she presented bags of clothes donated by members of staff of WACOT to the under-privileged in Argungu Local Government.

    Conducting the visitors round the rice processing mill, the General Manager, Corporate Affairs, TGI Group, the parent company of WACOT Limited, Mr. Sadiq Kassim, said the factory was the first phase of WACOT’s rice milling plan, which targets an increased capacity of 500,000 metric tonnes in the next few years.

    He said N10 billion has been invested in the mill with the capacity to process over 120,000 metric tonnes of paddy per annum and create over 3,500 jobs.

    He further disclosed that the mill has empowered a lot of local farmers, saying “we do not farm rice, but we work with the farmers from seed to harvest to ensure high quality paddy, which we then buy off them. We purchase paddy from up to 50,000 farmers here in Kebbi State”.

    As part of the company’s social responsibility efforts, Sadiq said WACOT has focused on women, children, healthcare and nutrition – core pillars of the reproductive, maternal, newborn, child, adolescent, health and nutrition (RMNCAH+N) campaign championed by the  wife of the President Mrs. Aisha Buhari.

  • FHA, firm to develop FESTAC Phase II

    The New FESTAC Property Development Company Limited (NFPDCL), in conjunction with the Federal Housing Authority (FHA), Southwest Zone, have partnered to develop the FASTAC Phase 2 Project in FESTAC Town, Lagos.

    The firm’s Executive Vice Chairman, Sir Isaac Chuks, said the FESTAC Phase 2 project has a land mass of 1,126 hectares, which was part of the 2, 040 hectares of  the entire land of FESTAC Town.

    He explained that the project, on completion, will be home to about 350,000 people, a feat he said would be a fantastic help to Lagos in view of the housing deficit gap in the state.

    “The city will be unique because of its proximity to the rail projects from Badagry, there will also be a road linking it from Ikeja airport, a kindergarten and secondary schools will be established, including a proposed university, which will afford children to start and complete their educational career within the city.  In the area of security, everywhere will be censored with cameras and independent power supply. There are also partners that have indicated their interest to establish a world class shopping mall and a world class hospital in the new city,” he explained.

    While assuring that the firm has done all the necessary groundwork to kickstart the project, including taking care of the issue of the land grabbers (Omo onile), Chuks revealed that the major off-takers are groups coming from South Africa, Egypt, United Kingdom and China, among other countries. These foreign investors, he explained, will buy and develop the land, just as a German and Swiss firms have also indicated interest in building Disney Island, on more than 40 hectares of land space within the city.

    The company secretary, Ajumogobia & Okeke, a firm of legal practitioners, Mr. Odein Ajumogobia, described the project as “a mixed development,” in a new city concept, which he said is comparable to EKO Atlantic City in Victoria Island axis of Lagos.

    Ajumogobia, a former Minister of State for Petroleum Resources, said the timing for the project was very perfect because of the new Badagry Express Way being built, which he said would open up the area.

    The marketing consultant to the project, and founding partner/consultant, M.I. Okoro and Associates, an Estate management firm, Mr. Meckson Okoro, said: “The only way we can engage the Artisans is when the government encourages massive investment in housing development, because housing development ensures that all kind of skill and unskilled labours are fully engaged. He expressed optimism that by the time the project is completed, it has have a good return on investment.”

    The president of BETONIQ JV Nigeria Ltd, one of the companies providing the technical support for the project, Air vice Marshal (retrd) Monday Morgan, is of the opinion that it is a good one because it will reduce the number of housing deficit in the country and  be a way of making their own contribution to the development of Nigeria.

    He said any technology that is used to give houses to Nigerians, but which does not attract employment for the youth, is problematic. This, he said, is a reason to support project as it will also ensure the menace of youth unemployment in the country is tackled given the number of youths it will employ. Morgan explained that the firm’s German partners in Germany will support the project by injecting 80 percent of required funding.

    BETONIQ JV Nigeria Ltd Chief Technical Officer, Mr. Teun van Sambeek, said his company was bringing to Africa for the first time, a technology used in Asia, Russia and Thailand. Still, he said the company will be providing materials for the building and infrastructure.

  • Kwara, firm train youths on career development

    The Kwara State government, in conjunction with a consulting firm, Resource Intermediaries Limited, is training no about 250 youths on career development.

    The training is aimed at making them employable. The two day workshop is themed: Employability, Advancement, Solution for Youths (EASY).

    Secretary to the State Government Isiaka Gold, who opened the training, emphasised the need for entrepreneurship and skill acquisition among youths in the country.

    According to him, the country’s educational system is ill-equipped to prepare youths for the labour market. He added that the programme will prepare participants for capacity building and sustainable job placement, expose them to character for career development, mastering the art of interview, running of successful businesses, problem-solving and decision making skills, among others.

    Gold urged the youths to use the opportunity wisely, saying “it is through these that you can help yourselves out of poverty and create opportunities for other youths”.

    Senior Special Assistant to the governor on Youth Empowerment Saka Babatunde said the dynamic nature of the employment market accounted for youths’ inability to secure employment, adding that only few people who are skilled, creative and innovative, could excel in the process of job placement.

    “As young graduates, it is important that youths make themselves marketable so that potential employers will hire and pay them well. The Employability Advancement Solution for youths is, therefore, an approach known in recent time as one of the best strategies to prepare the mindset of the youths for best skills and aptitude in facing the current employment challenges,” he said.

     

     

  • Dangote Cement declines bid on SA firm

    Dangote Cement declines bid on SA firm

    Dangote Cement Plc, Nigeria’s most capitalised quoted company and Africa’s largest cement producer, at the weekend stepped down from its much-publicised bid to acquire the share capital of PPC Limited-a South African leading cement firm.

    In a regulatory filing at the weekend, Dangote Cement board of directors stated that it has notified PPC board of directors that it no longer has an interest in acquiring the South African firm’s share capital.

    Dangote Cement had last month confirmed that it had initiated a bid to acquire the entire share capital of PPC Limited. It, however, noted that the acquisition talks were still at the preliminary stage and the transaction remained a potential one, contrary to reference to the talks in some quarters as ongoing.

    Established in 1892 as De Eerste Cement Fabrieken Beperkt, PPC is a leading supplier of cement and related products in southern Africa. It has 11 cement factories in South Africa, Botswana, Democratic Republic of Congo, Ethiopia, Rwanda and Zimbabwe.

    With annual capacity of 11.5 million tonnes of cement products, PPC’s materials business comprise Safika Cement, Pronto Readymix (including Ulula Ash) and 3Q Mahuma Concrete. Its footprint in the readymix sector has grown to include 26 batching plants across South Africa and Mozambique.

    Also, PPC produces aggregates; with its Mooiplaas aggregates quarry in Gauteng, having the largest aggregate production capacity in South Africa. PPC Lime, one of the largest lime producers in the southern hemisphere, produces metallurgical-grade lime, burnt dolomite and limestone.

    PPC is closely linked to the growth and development of South Africa as it has produced cement for many of the country’s most famous landmarks and construction projects.

    Two global rating agencies, Moody’s Investors Service and Global Credit Ratings (GCR), recently rated Dangote Cement high for its financial strength and corporate outlook. In rating reports, both global rating agencies described the outlook of the Africa’s largest cement producer as stable.

    Moody’s assigned three respective high ratings to the cement company, including a first time Ba3 Local Currency Corporate Family Rating (CFR), Ba3-PD Probability of Default Rating and Aaa.ng National Scale Rating (NSR).

    Global Credit Ratings assigned long-term and short-term national scale issuer ratings of AA+ (NG) and A1+ (NG) respectively to Dangote Cement.

    Assistant Vice President and Lead Analyst for Dangote Cement at Moody’s, Douglas Rowlings, said the ratings reflected Dangote Cement’s “strong standalone credit profile and track record of demonstrated financial support from a larger and more diversified parent, Dangote Industries Limited”.

    Chief Executive Officer, Dangote Cement Plc, Onne van der Weijde, noted that the ratings highlight the financial strength the company had achieved through unwavering focus on the profitable expansion of its business.

  • Two brothers unveil shoe firm

    After 10 years of making shoes, two brothers, Michael and Emeka Adigwe, have established  BootsbyMetal, a  shoe design firm.

    This is an indigenous brand  being positioned for global markets.

    BootsbyMetal is an aspirational brand, with the tagline “take the walk”, which sounds like a call-for-action similitude to Nike’s “just do it”.

    While Nike’s brand is emotional and uses stories of heroism, BootsByMetal’s co-founder  Adigwe emphasises: “The journey every man must take is to reach greatness.”

    Nike, he added, is inspirational, while BootsbyMetal  aspirational.

    The brand targets customers within the need spectrum of self-esteem and self-actualisation. That is why its prices are affordable to the middle and upper class.

    At the centre of BootsByMetal is the metal man, that is, a man who is “strong, focused, adventurous and authentic”.

    The concept of the metal man will resonate with every man, and identify with his ego, the illusion or reality of being strong, and the quest for adventure.

    This brand speaks to educated men between 20 and 40,  who are aspiring to be great.

    Thus, BootsByMetal does not have any luxury product. They are of quality, but are cheaper compared to imported brands.

    It is a brand to watch out for.

  • Firm, LASU partner to train students in water production

    For the third time Rinllandded Nigeria Limited has collaborated with the Centre for Entrepreneurial Studies, Lagos State University (LASU) to train students in water treatment and packaging.

    The trainee students, who cut across various faculties in the university, were at the Iyana Era premises of the firms’s water packaging plant, where they received tips on successful water production and packaging.

    The Entrepreneurship Centre is the initiative of the Federal Government aimed at exposing students to skills and entrepreneurial ideas to make them more marketable and self reliant upon graduation.

    Rinllandded Nigeria Limited Managing Director,  Mr Ahmed Adekunle, said the gesture was the firm’s “corporate social responsibility”,  describing the partnership as an awesome opportunity.

    “During this practical exercise, we take time to show the students tracks to water production from treatment to packaging. After that we take them through a class where we prepare their mind for life after school, and make them realise that the only way to go now is entrepreneurship. We also try to change their mind and orientation from thinking to being an employer of labour after school,” he said.

    Arinle said Rinllandded had also sent a proposal to LASU to help build a N50 million production plant on campus where students can learn food production and packaging.  He said the university could also use the facility for work/study programme for indigent students.

    Arinle added:”We have submitted a proposal to Lagos State University management for the establishment of LASU WATER within their campus, which will be sponsored 100 per cent by our company. Our investment projection is about N50 million. We want to build state-of-the-art factory so that we can bring this opportunity closer to the students and for the benefit of entire LASU community.

  • Firm tackles soybean shortage

    Firm tackles soybean shortage

    Feed production firm Olam is partnering the International Institute of Tropical Agriculture (IITA), Ibadan, in the production of high-yielding soybean seeds.

    This is aimed at bridging the gap  in soybean production, which  can make processing industries stop operation. Feed producing companies are facing a shortage of soybean due to  unpredictable supply.

    Olam Managing Director/Chief Executive Officer (CEO), Africa and Middle East, Mr. Venkataramani Srivathsan, said though Nigeria was one of the largest producers of soybean, its 500,000 metric tonnes yearly yield was very small. This, according to him, is due to lack of adequate market liquidity and limited incentive to grow the crop.

    He said his company was focusing on boosting soybean productivity, put at below 1.0 metric tonne per hectare compared to three to 3.5 metric tonnes per hectare in Brazil and the United States

    On the partnrship, he said: “We have 220 hectares of trial soybean seed at our Kaduna site, which we plan to gradually expand. We are working with IITA. Starting from next year, we will be offering the improved seeds to farmers to boost their yields.

    “We are sourcing the bulk of raw materials for our animal feed mills, including soybean, corn and cassava from more than 300,000 Nigerian smallholder crop farmers.”

    He said Olam had set a target to increase Nigeria’s soybean production from 500,000 metric tonnes (mt) to two million over the next five to seven years.

    This will not only make Nigeria self-sufficient in plant proteins, but a net soybean exporter.

    He said his organisation was identifying potential government, non-governmental organisations (NGOs) and private sector partners to jointly develop farmer support and agronomy programmes, including training in good agricultural practices (GAP).

    In Kwara State, Srivathsan said its new fish feed manufacturing facility would boost supply to help meet rising demand for fish, which is two million metric tonnes yearly. Local production, he added, stands at about 800,000 metric tonnes of fish yearly.

    He said  fish farming was essential to meet the supply gap and reduce the need for imports, which result in foreign exchange outflow in excess of $1 billion.

    According to him, one of the barriers to increasing fish production is lack of good floating fish feed. Feeds accounts for over 70 per cent of the local farmers’ production costs.

    The Kwara mill, he explained, has an initial capacity of 75,000 metric tonnes of fish feed per year that can be further scaled up.

    Stakeholders say the soya-value-chain affected the cost of cooking oil, stock feeds, chicken and other poultry meats and fish, hence the need to  address this to reduce imports.