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Tag: firm

  • Paris refund: Firm returns governor’s N500m to EFCC

    Paris refund: Firm returns governor’s N500m to EFCC

    Agency seeks temporary forfeiture of $3m, N500m 

    A mortgage firm has returned to the Economic and Financial Crimes Commission (EFCC) the N500 million said to be part of the Paris Club refund kept with it by a governor.

    The EFCC is probing the London-Paris Club refund following allegations that some governors are misapplying the cash.

    The Federal Government agreed to the refund to enable the governors pay workers’ salaries and pensions.

    Besides, the EFCC has gone to a Federal High Court in Abuja to seek the forfeiture of $3million said to be held for another governor by three persons and two companies.

    The agency has placed a no debit order on the three accounts traced to the five suspects, including a member of the House of Representatives, who has gone underground to avoid arrest.

    Investigation by our correspondent revealed that officials of the mortgage firm also made a statement confirming that the governor owns the N500million.

    A top source, who spoke in confidence with our correspondent, said: “When EFCC detectives traced the governor’s loot of N500million from the London-Paris Club refund to the account of the mortgage company, the firm wasted no time in disclosing the source.

    “The mortgage firm has surrendered the cash to us; we have it in our custody.  And on Monday (yesterday), we filed an application before the court for an interim forfeiture of the N500million in order to legalise its custody.

    “The purported owner of the cash has a two-week deadline to come forward to claim it or have it forfeited permanently to the Federal Government.”

    Responding to a question, the source said all those connected with the cash, including some consultancy firms had been named in court.

    The identities of the governor, the companies involved and his proxies, the source added, would be unveiled when the matter comes up in court.

    The governor, he said, has long standing mortgage collaboration with the firm where the N500million was wired.

    On the $3million linked to another governor, the EFCC provided the list of those involved including the names of the two companies, three persons, and the three accounts used.

    Two of the three persons are siblings, including a member of the House of Representatives whose whereabouts was unknown at press time last night.

    The lawmaker was, in the EFCC profile, described as a former commissioner.

    Another source added: “Again, we have asked the court to grant our prayer for the Interim Forfeiture of the $3million. We also attached the list of three banks, three accounts, two companies and three other suspects.

    “As I am talking to you, the EFCC has placed a No Debit Order on the three accounts associated with the $3million which was diverted from the London-Paris Club to build a 100-room hotel for another serving governor. One of the accounts is in a bank noted for domiciliary account business. The two others have been named in some suspicious transactions during the immediate past administration.”

    Detectives, the source said,  suspected that the $3million was part-payment for the construction of the hotel.

    On the extent of investigation of the cash, he said: “One of those questioned over the $3million has actually refunded $500,000.

    “The EFCC team really did a wonderful job in tracking the cash. In fact, a notable project firm, which has had partnership with the governor in the past, was implicated in the $3million deal.

    “We have sought for the seizure of the $3million and the N500million in line with Sections 28 and 34 of the EFCC (Establishment Act) 2004 and Section 13(1) of the Federal High Court Act, 2004.

    The Presidency has so far released about N1. 266.44trillion to the 36 states in the past one year including N713.70billion special intervention funds to states.

    Following protest by states against over deductions for external debt service between 1995 and 2002, President Muhammadu Buhari approved the release of N516.38billion (first tranche) to the 36 states and the Federal Capital Territory (FCT) as refunds pending reconciliation of records.

    Each state was entitled to a cap of N14.5 billion being 25% of the amounts claimed.

    Minister of Finance, Mrs. Kemi Adeosun said the payment of the claims would enable states to offset outstanding salaries and pension which had been “causing considerable hardship.”

    The governors sought for the loan refunds to states and local governments at a meeting with President Muhammadu Buhari on May 24, last year.

    But the alleged deduction of about N19billion and $86million, meant for payment of consultants and legal advisers, by some governors is under investigation by EFCC.

    Following controversy over the refunds in some states, the Federal Ministry of Finance, through its Director of Information, Salisu Dambatta, had penultimate Friday released the details of the N516.38billion to Nigerians.

    The top earners are Rivers, N34.92b;  Delta, N27.6b; Akwa Ibom, N25.98b; Bayelsa, N24.89b; Kano, N21.7b; Lagos, N16.74b; Katsina, N16.4b; Kaduna, N15.44b;  Borno, N14.68b;  Jigawa, N14.2b; Imo, N14.01b;  Niger, N14.42b;  Bauchi, N13.75b;  Sokoto, N12.88b and Osun, N12.62b.

    Others are Cross River N12.15b;  Anambra, N12.24b;  Edo, N12.18b;  Kebbi, N11.95b;  Kogi, N11.05b; Abia, N11.43b;  Ogun, N11.47b;  Plateau, N11.28b;  Yobe, N10.82b; Zamfara, N10.88b;  Ebonyi, N9.01b;  Ekiti, N9.54b;  Enugu, N10.7b;  Gombe, N8.95b;  Nasarawa, N9.1b;  Oyo, N13.31b;  Kwara, N10.24b; Adamawa, N10.25b; Benue, N13.7b; , Ondo, N14.01b;  Taraba, N9.32b; and  FCT, N1.36b.

     

  • Group, firm at war over pollution menace

    Trouble is brewing in Amuwo Odofin Industrial Scheme, an uptown district in Lagos as residents are at war with Hongzing Company Ltd, an iron and steel company based in the neighbourhood.

    According to the residents and business owners in the area, the Chinese firm’s activities have become an environmental nuisance in the industrial area.

    The company has been emitting raw gas pollution to the extent that other companies and residents are fleeing from the area.

    Some business owners and residents in the industrial scheme, who spoke with our correspondent alleged that the iron melting company’s activities have become hazardous to the entire neighbourhood, and that workers in the area have been exposed to harmful air and environmental degradation.

    According to the business owners who pleaded anonymity, they have been making noise about the activities of the Chinese firm and its effects on the neighbourhood, wondering why the concerned government authorities have not deemed it fit to call the company to order.

    They alleged that efforts made to get the attention of the Lagos state government has been futile.

    “We have written a petition to the office of the Lagos state governor which he replied and said our petition would be looked into. Up till now, we are yet to see any form of action and investigation.”

    In a letter from the office of the government and signed by the Chief of Staff, Kola Aileru and made available to The Nation, the state government had acknowledged the receipt of the petition dated 5th of April, 2017. The Chief of Staff also noted in the letter that the petition has been forwarded on the directive of the governor to the Commissioner of Environment for necessary action.

    Unfortunately, despite these efforts, the aggrieved residents are crying foul. They are not happy about the brazen manner with which the owners of the company are carrying on their business without consideration for the impact of their operations on the environment.

    One of the business owners recounted that: “Many of the companies here have lost so much money to robbers here. Criminal activities are also on the rise here due to the gridlock here. Gaining entry into our various offices has become a problem. They use their heavy trucks to block the roads. These are roads newly built but they have all become bad within a short period. Many companies are fleeing the area now. Recently, one of the companies here lost over a million naira to some hoodlums here because of the traffic caused by their trucks.”

    The business owners who said they have taken the matter to court demanded urgent intervention by the state government.

    When The Nation visited the premises of Hongxing Steel Nig. Ltd, there were two massive exhaust pipes through which fumes are uncontrollably discharging into the atmosphere. The activities of heavy duty trucks were also a common site. One of the roads leading to the company was completely blocked with trucks while other road users spend hours on the street road.

    In a statement signed by Oladayo Adewunmi, Convener, Environmental Watch Network, Lagos and made available to our correspondent, he said: “The decrepit state of the road at Amuwo Odofin Industrial Scheme Amuwo – Odofin, Lagos, where companies like CDK Nig Ltd, Nossak Holdings Ltd, Givannas Ltd, Pharmatex Ltd and Saro Agro Science Ltd are situated, is an eyesore, judging by the recent flood. It has also had a negative impact on the community whereby some companies have relocated due to lack of commercial activities because of the poor state of the road.”

    Echoing similar sentiment, Freebonders, an anti-human labour organisation has called for proper investigation into the firm’s activities.

    Speaking with our correspondent, Mr Dayo Shoyoye said some residents have been struggling to battle this pollution menace for the past three to four years now.

    However, efforts by The Nation to the reach the management of the steel company was abortive as a security man who claimed that his bosses were not around collected our correspondent call card promising that his boss would definitely get across. Unfortunately, one week after the visit, no one from the company has contacted our correspondent.

  • Enugu council, firm equip youths for business

    The Enugu State Youth Council (ESYC) and a firm Softran Systems Enterprise Nig. Ltd have provided 20 youths in the state with grants and soft loans so they can start off their businesses.

    The gesture was an aftermath of the promise made by the CEO of Softran Systems Enterprise Nig. Limited, Chief Chris Onyekachi, at a youth empowerment summit organised by the Enugu State Youth Council in February. Onyekachi at the summit asked the youths to submit any business proposal of their choice, from which the best 20 proposals would be given a start-up capital.

    After screening the entries, 20 proposals were approved. Five of them were given grants of N200,000 each, while the other 15 youths received cheques for interest-free loans of N500,000 to start up or expand their businesses.

    Onyekachi admonished the beneficiaries to stick to their business proposals. He pledged his continued support to the development of youths and admonished those who could not benefit from the grants to be hopeful.

    He said, “I will continue giving my support for the youths, to make them better persons and Enugu a better state. And if you do not get anything today, have it in mind that something big is coming your way. I still have a plan underway with the Special Adviser to the state government on youth matters.”

    He said that the soft loan when repaid will be kept in the purse of the Enugu State Youth Council and used to empower other youths.

    He added, “I advise the recipient is to be serious, focused and determined and above all pray to Almighty God, who blesses every human being.” He encouraged the youths to be inspired by great achievers and to work hard toward achieving their own greatness.

    In his welcome address, the Vice President of the Enugu State Youth Council, Barr. Samuel Udenta, on behalf of the President of the council, Comrade Nnaemeka Agada, said that one of the key objectives of the group is initiating youth development projects and activities with the aim of encouraging the active participation of the youth in the processes of their own empowerment. He thanked the state governor for his efforts toward empowering the youths of the state. He then applauded Chief Chris Onyekachi for his giant strides towards empowering the youths of Enugu and described him as “One of the strong sponsors and supporters of this association.” He however called for more supports, “we appeal on the governor, other stakeholders, private individuals and well-meaning Nigerians to partner with ESYC towards the empowerment of Enugu youths.”

    One of the N200,000 grant beneficiaries, Chika Nwamu, a 200L Geography student of University of Nigeria, Nsukka, thanked the philanthropist as she expressed her joy. She looks forward to becoming the best fresh fruit juice producer in Enugu. She said, “I really appreciate Chief Chris for this grant, I am surprised and overwhelmed. What I have in mind is to be the best fresh juice producer in Enugu state and to employ other youths.” She has been in the business on a smaller scale and will expand it with this grant.

    Another grant beneficiary, who proposed a phone accessories marketing business, thanked the benefactor for the wonderful gesture. “I wish to thank the benefactor for putting smiles on our faces and making our lives colorful. With this kind of gestures, the youth will no longer be wasting away.  With this grant, I will start up my phone accessories business. And I wish to make it to make it different from what other people do.”

    Tony Eneje, one of the beneficiaries of the five hundred thousand naira worth of soft loans, also expressed his gratitude. His proposal is on expanding his fish processing business. He said, “Honestly it’s so amazing. We are so happy. And I commend the benefactor. I am into fish processing business. My expectation with this grant is a boom in the business, more production. It will enable us process more fishes to satisfy the demands of our customers and of course more profits.”

    Another high point of the event was when the philanthropist also awarded an additional Two hundred thousand naira grant to a visually impaired man who attended the event with his products. The grant was to help him expand his laundry soap production business.

    Chief Chris Onyekachi was later presented with the Philanthropist of the Year award by the Enugu state youth council. The programme was attended by dignitaries, including the Special Adviser to the Governor on youth affairs and some other state government officials.

  • Firm opens in Lagos

    Firm opens in Lagos

    Corit Unique Store, a store that deals in unique home accessories has opened a shop in the Low Cost Housing Estate( aka  Jakande Estate), Isolo, Lagos.

    The shore also stocks kitchen utensils, sitting room decorations and clocks, bathroom/toilet accessories, back-to-school items for children, educational toys, and party pack fillers.

    The store started as an online store in 2013, with only one item.

    According to its General Manager, Rita Biose, the firm takes delivery and delivers nation-wide to their clients

    “Corit Unique Store as the name implies is a store that concerns itself with unique items basically to give classy and elegant touch to homes and life.

    “Corit Unique Store concerns itself with unique items to give classy and elegant touch to homes and life. We go the extra mile to give unique look to homes, to turn houses to homes, we make homes welcoming and comfortable, we help make the home a place to look forward to going back to,” she said.

    Chairman of the company, Mr Cornelius Biose, said the firm helps provide solution of buying of items from the comfort of the clients’homes with ease, “as we make deliveries within Lagos a payment on delivery bases”.

  • Firm to train students on ICT

    Information and Communication Technology (ICT) consultancy firm BSO Mega System Computer, is set to organise ICT trainings for secondary school pupils in Lagos State.

    The training is meant to acquaint them with in-depth knowledge of the ICT beyond the popular social media engagements such as facebook, whasapp and others, which many of them have become addicted to.

    The trainings, which will commence at the resumption of the third term, will be purely practical as against merer class work many schools are used to.

    The firm’s Chief Executive Officer (CEO) Bello Dada Obashua, said the exercise is imperative because ICT has become an integral part of human existence in the contemporary world.

    He noted that with the introduction of computer-based examinations by the Joint Admission and Matriculation Board (JAMB) and other professional bodies as well as the demand for ICT knowledge for prospective job seekers, the workshop would equip the pupils for the challenges ahead.

    “We want to ensure that no student fails because of his/ her deficiency in computer knowledge. ICT has impacted on nearly every aspect of our lives; from working to socialising, learning to playing. In fact, ICT has become even embedded in our culture so we must provide the students with relevant and contemporary experiences that will engage them successfully,” he said.

    He identified some of the programmes to include: computer-based examination technology, data processing, networking, web designing, internet technology, video and picture editing among others.

  • Anti-labour practices: PENGASSAN issues 72 hours ultimatum to firm

    Anti-labour practices: PENGASSAN issues 72 hours ultimatum to firm

    Barely two weeks after the suspension of an industrial action embarked upon by Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) over anti-labour practices of the Neconde Energy Limited, the management has sacked workers who participated in the industrial action.

    The association, therefore, has issued a 72-hour ultimatum, starting from Tuesday to Neconde Management within which the five affected members be recalled to work or face monumental consequences as they may relate to the organisation and the oil and gas industry.

    According to PENGASSAN, this was a flagrant violation of the terms  of a communique signed on May 18,  between the two parties towards the suspension of the picketing of the company.

    In the communiqué which was signed by the representatives of the company led by its Company/Board Secretary, Mr. Val Uche-Obi, SAN, who signed on behalf of the Chairman Neconde Energy Limited- Dr. Ernest Azudialu, and the Chief Executive Officer, Mr. Frank Edozie, among others and PENGASSAN representatives led by Chairman, PENGASSAN Lagos Zone, Comrade Abel Agarin, among others, it was agreed that nobody will be victimised on the ground of the industrial action.

    The senior staff trade union said the company terminated the employment of five members on June 1, based on the industrial actions. It would be recalled that the recent industrial  action began on May 15,  with the picketing of the premises of Neconde simultaneously in Lagos and Warri.

    The catalogue of grievances that led to the industrial action include forceful restructuring (evidenced in realignment, grade categorisation and harmonisation of salary structure and downgrade of conditions of service/contractual terms of employment) of Neconde to other non E&P subsidiaries of the Obijackson Group, lack of evidence (TCC) of employee tax (PAYE)  remittance in Lagos and Delta states since 2012, non- payment of 2016 13th month, non-payment of field allowances since August 2016, forceful and immediate transfer of union members (including pregnant women) from Lagos to Warri office with no consideration of impact on families, non-payment of transfer allowances (two months after the forceful transfer), and non-payment of severance benefits.

  • Firm offers businesses to N200b online payment options

    Nigeria’s online payment service provider PayU Nigeria has identified businesses that can benefit from its global expertise. It operates in 16 markets where it offers over 250 payment options.

    Its Country Manager, Ms Juliet Nwanguma, said the firm has rolled out strategies to connect businesses to Nigeria’s online payment market estimated to surpass N200 billion this year, from N167 billion last year.

    Speaking with The Nation in Lagos, she expressed confidence that with over 2.3 billion users world-wide, the e-commerce payment gateway could help businesses grow their market share and help them to achieve their objectives.

    “At PayU, we believe that with the deployment of appropriate strategies and products which are designed to encourage more businesses to adopt online payment, the market in Nigeria can record triple digit growth in both volume and value of online payments. This is the driving philosophy of PayU’s operations in Nigeria,” Nwanguma said.

    The Nigeria Interbank Settlement System (NIBSS) recently released a data, which showed that 5.5 million transactions worth N46.7 billion, were generated through online sales in the first quarter of the year.

    This is an increase in the quarterly average of 3.5 million transactions worth N33 billion last year. This 58 per cent growth is a clear indication of the increased confidence and preference for online sales among Nigerians.

    But the double digit growth, according to Nwanguma, was far below the potential of the market for online payments in Nigeria.

    She noted that in a country of over 180 million people, consisting of 61 million active bank customers and where e-payment transactions are worth N56 trillion  yearly, the potential for online payments in Nigeria is huge and waiting to be tapped.

    The PayU Nigeria Country Manager said the firm’s mission was to leverage Nigeria’s 97 million active Internet users to popularise and increase online payments in Nigeria.

    “Since last year when we entered the Nigerian market, we have used our globally tested products such as tokenisation, recurring payments for subscription services and single click payments for faster checkout.

    “Our range of services according to different business categories especially the PayU Easy service allows start-ups to start selling online instantly without the need of a bank account or trading history,” Nwanguma explained.

    She said PayU has assisted small, medium and large organisations with their online payments. In particular, the robust and flexible features of PayU Plus and PayU Enterprise, she said, have assisted merchants to grow and expand their online payment.

    PayU offers merchants safe, secure, online shopping.  Their products are   PCI DSS Level 1 compliant which means they are required to meet extremely stringent security criteria.

    All card details are secured by secure socket layer (SSL) and transfer layer security (TLS) encryption and reinforced through various encryption processes in order to provide protection for all payment information.

    They also are 3D secure enabled, which gives consumers added security when shopping online.

    The increased preference for online payments among Nigerians offers new opportunity for businesses to increase patronage and grow revenue.

    The global expertise of PayU, combined with its easy-to-use and secure online products provide the channel to leverage on this opportunity and achieve business objectives.

  • Firm to roll out in Nigeria

    Subscription Video on Demand (SVoD), service provider for emerging markets, iflix, said it is set to launch its first-of-its-kind SVoD service in Nigeria, Ghana, Kenya, Tanzania and Zimbabwe.

    Iflix’s SVoD service offers users unlimited access to thousands of Television (TV) shows and movies from all over the world. With a huge selection of favourite comedies, drama, K-drama, Turkish drama, Bollywood, Nollywood, cartoons, movies, iflix places the entertainment subscribers what to watch at their fingertips.

    For one low monthly fee, iflix subscribers can watch on their mobile phone, laptop, tablet, TV anywhere, anytime.

    iflix Co-founder and CEO, Mark Britt, said with the launch planned for Nigeria and other African countries over the second and third quarter of the year, iflix will increase its global footprint to 23 territories worldwide, with additional regional markets to be added over the coming months.

    He said with the establishment of iflix Africa, with headquarters in Cape Town, South Africa, and trading commercially as ‘iflix,’ the firm will bring its world class service to sub-Saharan Africa (SSA).

    According to Britt, iflix Africa will capitalise on SSA’s large youth population, rapidly growing Internet and Smartphone penetration, and huge appetite for digital content and entertainment.

    The Nation learnt that the commercial launch of iflix’sSVoD service across SSA, with initial launches in Nigeria, Ghana, Kenya, Tanzania and Zimbabwe, will make iflix’s vast range of thousands of TV shows, movies and more, including many first run exclusives and award-winning programs available to hundreds of millions of consumers across the region.

    In addition to having the best of Nollywood,Hollywood, Bollywood, and other regional and local programming, the service will additionally offer an extensive collection of highly acclaimed African shows and movies with iflix Africa planning to introduce exclusive African content series.

    “The establishment of iflix Africa represents an incredibly exciting step in iflix’s growth story. As Africa transitions from the margins to the mainstream of the global economy, there is a unique, ‘once in a generation’ opportunity to fundamentally shift the way a billion people consume and enjoy content,” Britt said.

    While projecting that Africa will have 720 million Smartphone users by 2020, he said the company aimed to meet the entertainment needs of those growingly connected viewers. “As the fastest-growing mobile market on earth, Africa is without question one of the world’s most dynamic regions,” he added, in a statement exclusively accessed by The Nation.

    iflix Head of Africa, Mr. Andre de Wet, stated that iflix was thrilled to introduce its first-of-its-kind SVoD service in Nigeria and other sub-Saharan African countries. “We are passionately focused on providing the broadest selection of premium content at a price everyone can afford.

    “We can’t wait to tackle both the enormous opportunities and challenges ahead, in serving this incredibly diverse and exciting region,” de Wet said.

     

     

    available to over one billion consumers in 18 markets across Asia, Middle East and North Africa (MENA), iflix’s soon-be-launched service in Nigeria will allow each subscriber to access the service on up to five devices, including phones, laptops, tablets, and television sets, for viewing wherever, whenever.

    The Nation learnt that iflix continued rapid global expansion into its third region, less than two months after launching in MENA, is coming on the strength of its March 2017 completion of over $90 million round of funding to support its international expansion.

    The round added new investors such as Liberty Global Group and Zain Group to the company’s formidable shareholder registry, which also includes global heavyweights Sky plc, Catcha Group and Evolution Media.

    This was after the company first launched its service in May 2015. It quickly established its dominance in the Asian region, rolling out its world class service to 18 markets across Asia and MENA in less than two years, and acquiring over five million subscribers over the period.

    iflix Africa is expected to make iflix’s world-class service available to over 500 million consumers across the African continent.

     

  • Firm unveils Festac plaza

    Firm unveils Festac plaza

    A new multi-purpose shopping plaza has berthed in FESTAC area, Lagos. Known as Daphina Place, it sits on half an acre of land (three plots), with the capacity for 500 shoppers at a go. It also has car park with capacity for 70 cars.

    With an installed 100 KVA GMG generator, shoppers to the multimillion naira one-stop shopping mall are assured of comfort while shopping. The mall houses a unisex salon; supermarket, massaging spa, pharmacy and a DSTV outlet among others.

    At the inauguration of the imposing plaza, located on Fourth Avenue of the Festival Town, the promoter of the mall, Prince Lewis Osobase, said: “The mall offers a relief for residents who desire good items and basic services without going through stress. It is a multi-purpose mall with a superstore, fashion shop, unisex salon and spa. It is a one-stop shop that caters to the needs of all strata of people regardless of their diverse taste,” he said, with a promise to further improve the facilities to ensure that diverse teeming patrons are satisfied.

    Dedicating the mall, Venerable Israel Owoyele of the Church of Pentecost (Anglican Communion), Festac, noted that the long years it took to actualise the project was a testimony that God is the only one that can see any man through projects in life.

    The plaza was opened with fanfare including a road show within Festac town while shoppers trooped out to purchase items at the mall.

  • Fish: Firm trains 620 to strengthen aqua culture

    Nigeria’s plan of achieving self-sufficiency in fish production has received a boost. Aller Aqua Limited  trained over 1000 catfish and tilapia farmers on proper feed management. This is to boost local production and reduce the country’s yearly import bill of N238 billion

    Aller Aqua Nigeria  Limited, a subsidiary of Denmark-based fish feed producer, Aller Aqua Group, is  working with the government  to empower  fishermen to learn profitable aquaculture.

    Its Regional Sales Manager, Mr Foluso Dada, said the agro firm has  trained 620 fish farmers this year, in its ongoing “free training’’ to further drive the Federal Government’s plan to strengthen aqua culture.

    He said the  figure included trainings in Asaba, Warri, Benin and Port Harcourt. “The training is focused on increasing efficiency and production of fish farmers, using efficient fish conversion,” said Dada, adding: “With this, a catfish farmer with 1,200 pieces of fish can make 24.7 per cent profit margins, having three production cycles of four months each and a tilapia farmer with same pieces of fish will have 37.5 percent profits.”

    According to him, the outcome of the training since it commenced in 2016, has propelled the firm to extend its activities to the South-West cities such as Lagos and Ibadan. “The training is going to be in three parts, to bridge the gap in the aquaculture sub-sector deficit in optimum profitability. The first part of the training will be for those, who own fish farms on managing practices, to build farmers’ capacity and opportunities for making profits.

    “The second phase, which is a technical part, will be on Economics of Feeding and Feeds Efficiency for farm owners and managers. The third is on Tilapia production, focusing on feasibility studies of how to set up tilapia farms and how to make profits,’’ Dada said.

    Managing Director, Amolese Aquaculture Nigeria Limited, Tiamiyu Nurudeen  underscored the need for organisations to help  small fish farmers overcome various problems  they  face.

    Tiamiyu, who is also the national npresident of the Tilapia Aquaculture Developers Association of Nigeria, believed the sector’s performance was crucial to income generation and poverty alleviation, calling for an enabling pro-growth policy environment for the sector.

    Nurudeen said the fisheries and aquaculture sector has been making an important contribution to the country’s economic growth. In the workshop, presentations highlighted key prerequisites for success in fish farming business using feed. The presentations also identified concrete managerial issues which should be addressed to ensure the sustainability of  fish farms.