The Nation Newspaper

Tag: growth

  • Christian leaders urge citizens to contribute to growth, development 

    Christian leaders urge citizens to contribute to growth, development 

    Christian leaders from the 19 Northern states and the Federal Capital Territory (FCT), Abuja, has urged citizens to hold elected officials accountable for resource utilization and to contribute to the growth and development of the nation.

    At a town hall meeting organized by the Christian Awareness Initiative of Nigeria (CHAIN), the leaders urged citizens to take an active interest in governance and contribute positively to nation-building.

    This was as they endorsed the proposed tax reform bills sent to the National Assembly by President Bola Ahmed Tinubu.

    The meeting, themed “Church and Society: Tax Reforms and Matters Arising,” brought together prominent Nigerian leaders, experts in tax laws, and Christian leaders to discuss the implications of the tax reform bills.

    Rt. Hon. Yakubu Dogara, Speaker of the 8th National Assembly, delivered the keynote address, while Mr. Sunday Dare, Special Adviser to the President on Media and Public Communication, chaired the occasion.

    The leaders resolved that taxation is biblical and not strange to Christianity, citing Jesus’ teaching on paying taxes. 

    They also emphasized the importance of knowledge and understanding in making informed decisions about the tax reform bills.

    The leaders encouraged Northern leaders to focus on developing citizens and bringing out their potentials, and called on the north to fix a day of prayers and confession over regional challenges.

    The endorsement of the tax reform bills by Christian leaders is seen as a major boost to the government’s efforts to reform the tax system and stimulate economic growth.

    The meeting’s resolutions are expected to have far-reaching implications for citizen involvement in governance and the passage of the tax reform bills.

  • Firm assures shareholders of growth

    Firm assures shareholders of growth

    The new management team of Guinness Nigeria Plc has assured shareholders of its commitment to growing the fortunes of the company.

    Welcoming shareholders at the Annual General Meeting (AGM), the board highlighted resilience and growth trajectory of the company thus far, noting that despite the challenging macroeconomic environment, the firm reported strong top line growth, underscoring its ability to navigate adversity and the challenging operating environment.

    The shareholders approved the resolutions presented at the AGM, including the confirmation of the new directors appointed to the board.

    Chairman of the Board of Directors, Dr. Omobola Johnson, said: “Within the period under review, Guinness Nigeria proactively realigned and repositioned itself to effectively adapt to the changing landscape of the FMCG sector in Nigeria.

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    ‘’We continue to place a premium on the constant delivery of quality products to our consumers in relentless pursuit of our aim to be one of the best performing, most respected consumer products company in Nigeria.”

    Managing Director, Girish Sharma, echoed these sentiments, outlining the company’s strategic direction, following acquisition by Tolaram Group.

    “Guinness Nigeria is one of the country’s leading companies. While we have faced challenges such as currency volatility, we are taking steps to address them. My three key priorities are restoring profitability, improving production efficiency and building a strong, empowered team.”

  • Zoho announces 31 per cent growth

    Zoho announces 31 per cent growth

    Zoho, a global technology company, yesterday, said it grew by 31 per cent in 2023 in Nigeria, one of its key markets in Africa.

    The company, which has been providing its 55+ apps in naira to help local businesses amid fluctuating dollar rate, also announced its collaboration with Bridge International Academies to support education of underprivileged children.

    These announcements were made on the sidelines of Zoholics Nigeria, the company’s annual user conference.

    Kehinde Ogundare, Country head of Zoho Nigeria said: “As we continue to grow our presence in Africa, our focus is on ensuring that our expansion positively impacts the local economy, communities, and the broader business ecosystem.

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    “This approach aligns with our transnational localism strategy, which emphasises being rooted in local markets while staying globally connected. To support this, we are committed to hiring local talent, strengthening our partner network, and creating products tailored to the local market.

    “Additionally, to serve the community, we are supporting the education of children and also undertaking sustainability initiatives.”

    Speaking on community and environment initiatives, he Ogundare said Zoho is partnering with Bridge International Academies to establish a meaningful Corporate Social Responsibility (CSR) initiative in Nigeria, Kenya, and Uganda.

  • Women entrepreneurs as catalyst for innovation and rapid growth

    Women entrepreneurs as catalyst for innovation and rapid growth

    • By Ene Bolanta

    Sir: In recent years, we have witnessed a significant rise in the number of women entrepreneurs entering the business world. Women are breaking barriers and shattering glass ceilings, establishing themselves as formidable forces in the entrepreneurial landscape.

    This surge in women entrepreneurs is not only empowering, but it is also driving innovation and rapid business growth. Women are bringing fresh perspectives, unique ideas, and a different approach to problem-solving, which in turn, is revolutionizing industries which is no surprise.

    Research has shown that diversity, including gender diversity, is a catalyst for innovation. When women entrepreneurs are provided with equal opportunities, they bring a diverse range of experience, skill, and perspective to the table. This diversity fuels creativity and fosters a culture of positive transformation within organizations.

    Women entrepreneurs are often known to challenge the status quo, introduce disruptive ideas, and pioneer new solutions that address unmet market needs. Their fresh insights and unique approaches push businesses to evolve and adapt, ultimately driving rapid business growth.

    Also, against popular belief, diversity and inclusion are not just buzzwords; they are essential components of a thriving business. Gender diversity, in particular, has been proven to have a positive impact on a company’s bottom line. Past studies carried out by Mckinsey in 2017 showed that companies with a higher representation of women in leadership are 21% more likely to outperform their competitors.

    Therefore, by embracing diversity and inclusion, businesses can tap into a wider pool of talents, perspectives, and ideas. This diversity fuels innovation, enhances decision-making processes, and ultimately leads to better business outcomes.

    While women entrepreneurs such as Ibukun Awosika, Folorunsho Alakija and Tara-Fela Durotoye have without question made remarkable strides, there are others who still face unique challenges on their entrepreneurial journey that hinder their growth and success. Issues such as gender biases, limited access to funding and capital, and a lack of representation in key industries are just a few of the barriers that women entrepreneurs face.

    To overcome these challenges, it is crucial for society, the government, and businesses to take proactive steps such as implementing policies that promote gender equality, providing targeted funding and support programs for women entrepreneurs, and fostering a culture of inclusivity and diversity within organizations.

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    Also, in order to ensure their success and drive rapid business growth, women entrepreneurs must employ strategies such as building strong professional networks and seeking mentorship from successful women entrepreneurs who can help them navigate challenges and open doors to new partnerships and investment opportunities.

    They must invest in continuous learning and skill development, leveraging technology and the digital landscape which offers countless tools, resources, and platforms for marketing, e-commerce, and business management. They must seize all opportunities to enhance their business acumen, leadership skills, and industry knowledge. By constantly expanding their skillset, women entrepreneurs can stay ahead of the curve, adapt to market changes, and drive innovation within their businesses.

    While the economies of many nations both developing and developed alike are at risk of recession, maybe the answer we all seek to reverse the weakening growth momentum lies in embracing gender equality and tapping into a wealth of untapped talent, unique perspective and tenacity which will undoubtedly lead to increased innovation, improved problem-solving, and ultimately, rapid business growth.

    •Ene Bolanta,

     <enebolanta@gmail.com>

  • ‘We are working as catalyst for growth’

    ‘We are working as catalyst for growth’

    Elohor Oghens-Ogedegbe, a Financial Leadership expert has continued to advocate for SME empowerment. With over two decades of experience in the financial services sector, Oghens-Ogedegbe has been instrumental in providing invaluable support and guidance to numerous SMEs.

    “Collaborating with SMEs has been a transformative journey, enriching my understanding of customer service and refining my decision-making processes,” shares Oghens-Ogedegbe. “My passion lies in witnessing SMEs thrive, as I am deeply aware of their significant contribution to the economy.”

    Embracing her role as a catalyst for SME growth, Oghens-Ogedegbe has spearheaded various initiatives aimed at bolstering their success. From launching tailored products like “SMEs Grow Your Business” and organizing events such as the “SMEs Sales Challenge” to facilitating market campaigns to enhance banking accessibility, her efforts have left an indelible mark on the SME landscape.

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    Reflecting on her impactful collaboration with Slot Systems Ltd, Nigeria’s leading retail mobile phones company, during their franchising venture, Oghens-Ogedegbe beams with pride. “Being part of Slot’s journey to becoming a household name in mobile phone retailing has been immensely gratifying,” she shares. “Their exponential growth, with over 50 franchise stores nationwide, underscores the tangible impact of our collective efforts.”

    Beyond her role as a Senior Manager in the banking industry, Oghens-Ogedegbe is an advocate for exceptional workplace leadership. Drawing from her diverse expertise and extensive training in areas such as project management, risk management, and emotional intelligence, she champions a leadership style anchored on accountability, purpose-driven commitment, and collaborative conflict resolution.

  • Tinubu urged to invest in tech, chips production for economic growth

    Tinubu urged to invest in tech, chips production for economic growth

    Chief Executive Officer of Amaltech, Shehu Tijjani Abdullahi, has urged President Bola Tinubu to invest in semiconductor technology and chips production to develop the economy.

     Abdullahi said it was important to harness the potential of semiconductor technology “to help propel economic diversification and expand the country’s industrial horizons.”

     He noted: “President Tinubu needs to prioritise investments in semiconductor technology and chips production to fuel economic diversification, especially given the country’s reliance on oil revenues.

     “This will be a crucial stride towards achieving robust economic diversification.”

     Tijjani said the semiconductor technology stands as a cornerstone for modern economies, adding prominent nations have huge investments in the technology.

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     “Investing in this domain could unlock substantial foreign exchange earnings through localized processing of raw materials and export of semiconductor products.

     “This approach, in turn, has the potential to stimulate job creation, elevate local content development, and bolster a more resilient economic environment,” he added.

     The first-class graduate of software engineering from Middlesex University decried the untapped potential of Nigerian youths in propelling technological innovation and growth.

     He further emphasised the necessity to enhance awareness and also educate the emerging generation about the array of opportunities embedded within semiconductor technology.

     He said, “By fostering an environment conducive to nurturing skills and innovation, Nigeria can strategically position itself as a formidable contender on the international semiconductor production stage.”

  • ‘Nigeria needs local content for growth’

    Nigerian Content Development and Monitoring Board (CDMB) will not relent in its efforts to propagate the use of local contents in every aspect of the economy for growth, its Executive Secretary, Simbi Wabote, has said.

    He said the need became imperative in order to encourage the use of local contents, by successive administrations in the country, urging research institutes and oil companies to play key roles in this regard for the growth of the economy.

    Speaking during its induction as a fellow member of the Institute of Petroleum Studies (IPS) Port Harcourt, recently, he said the institute is partner in progress in the search for quality materials, needed to achieve a truly grown nation.

    The institute awarded him for his exceptional accomplishments in engineering, strategic management and local content leadership in the Oil and Gas Industry. The award was part of the flagship programme of the institute’s 15th Induction Ceremony/Exhibition which took place at Ebitimi Banigo Auditorium, University of Port Harcourt.

    He said Wabote was one of the two persons admitted to fellowship of the institute this year, while the second  person was Hervochon Joel, a French national and Executive Director, Deep Water District, TUPNI, Lagos. Both  were inducted for their distinguished career in the oil and gas sector, spanning nearly 30 years.

    IPS was established 15 years ago in collaboration with Institut Francais du Petrole et Energies Nouvelle (IFP/New Energy), the Ecole du Petrole et des Monteurs (IFP School), Paris, France.

    The school was established primarily as a Centre of Excellence in Geosciences, Drilling and Production technology, petroleum economics, policy and strategic studies, in order to provide topnotch academic and hands-on education for young professionals.This is to meet the needs of the Nigerian petroleum industry through a commitment to excellence in training, applied research, continuing education and capacity building.

    The main sponsor of the institute is the Nigerian National Petroleum Company (NNPC)/Total E & P Nigeria Limited (TEPNG) Joint Venture.

    In the citation read by the Institute, Mr. Wabote was described as an “experienced and excellent professional  who has recorded huge successes in the various assignments so far carried out, making him an effective and resourceful manager who is able to groom and manage divers and high performing teams”.

  • IT critical to economic recovery, growth, says NCS

    Information Technology (IT) application is critical to economic growth and recovery, the Nigerian Computer Society (NCS) has said.

    Its President, Prof Adesola Aderounmu who spoke in Lagos with reporters on the 40th anniversary of the group and activities lined for National Information Technology Merit Awards (NITMA), said the application of IT solutions has redefined how human beings live and work.

    NCS is the umbrella association of IT professionals, interest groups and stakeholders in the tech sector.

    He said the impact of IT on health, agric and other sectors of the economy has been phenomenal.

    He said: “Over the past 40 years, NCS has been the primary agent behind the amazing and rapid increase in IT deployment in Nigeria. With respect to achieving sustainable development through IT, NCS has been the advocacy champion behind local content development, Cashless and Fintech, IT in Government, IT for National Security, use of IT for productivity in all spheres of life, IT Education and so many other critical that are changing Nigerian society dramatically. IT is critical to enabling economic recovery and growth as well as achieving sustainable development.”

    He said   NCS@40 celebration will come up during this year’s NITMA night, adding that there will be the 40th Anniversary Special Recognition Awards during which Past Presidents of NCS and CPN; Past Provosts of NCS; Past Registrar and Executive Secretary of CPN and NCS respectively; first registered member (MRN 00001) and the 40th registered member (MRN 00040); and corporate organisations that have been supportive of the activities of NCS during the years in different categories.

    He said in line with the advocacy efforts of NCS to achieve sustainable development in the country through IT, NCS promotes excellence and significant impact.

    “Annually the NCS recognises, celebrates and rewards outstanding excellence and exceptional contributions in the IT field through the unique national platform NITMA provides. Our focus as a society is progress for the sector in particular and for the nation as a whole. As the acknowledged professional authority facilitating the development of an inclusive, globally competitive, prosperous and knowledge-based Nigeria, NCS is committed to recognising and rewarding outstanding hard work and excellence in accelerating IT development,” he said.

     

     

     

  • U.S honours Azikel chief over growth

    The United States (U.S) government has honoured the President of Azikel Group, Dr. Azibapu Eruani, for supporting industrialisation and economic growth in Nigeria.

    He was honoured with the prestigious merit award of International Partnership through his industries and refinery.

    A statement by the Media Assistant to the President, Azikel Group, Austin Ebipade, said the award was conferred on him by the U.S Embassy in Lagos. The ceremony was attended by distinguished Nigerians, top local and foreign  chief executives officers.

    Azikel Group of Companies, comprising Azikel Dredging/Construction, Azikel Air, Azikel Power and Azikel Petroleum, is privately owned.

    “On behalf of the U.S government, Consul-General  F. John Brady and the Head of U.S Commercial Counsel, Brent Omdahl presented the award to Dr Eruani, extolling his development initiative and for leading the International Partnership, particularly in leading private refinery investment and catalysing the new industrialisation and economic growth in the nation,” the statement read.

    The envoy said the absence of employment and industrial growth hamper industrialisation, slow economy and wellbeing of the citizenry, thereby heightening poverty, conflict, health challenges in any state or country.

    Brady said in support of government at all levels, the Azikel Group and its subsidiaries in dredging/construction, power, aviation and petroleum, has helped to realise government’s  Economic Recovery and Growth Plan (ERGP).

    “When the wheel of industries is in motion, as powered by the Azikel Group president in the Niger Delta, restiveness in the region, unstable power supply, insufficient and scarcity of petroleum products, as well as long queues at filling stations would be redressed,” he said.

    Responding,  Dr. Eruani lauded the U.S government for the recognition, stressing that he remained committed to the new industrialisation and economic advancement of the country.

  • SMEs engine of growth, says group

    The Aspen Network of Development Entrepreneurs (ANDE) has identified Small and Growing Businesses (SGBs) in emerging markets as key drivers of the economy.

    The group said it is committed to supporting emerging market entrepreneurship because small and growing businesses could bridge the gaps of emerging economies, especially in Nigeria.

    As part of its objectives to identify relevant ecosystem actors in various cities, ANDE, with support from the Department for International Development (DFID), is mapping the entrepreneurial ecosystems in Ibadan and Port Harcourt.

    This is to understand the gaps and opportunities peculiar to the cities that can be addressed through specific interventions.

    To achieve this, survey distribution and stakeholder feedback meetings have been adopted to get detailed information required to map the Ibadan and Port Harcourt entrepreneurial ecosystems.

    According to a statement made available to reporters at the end of the stakeholders’ meeting, the meetings in Ibadan and Port Harcourt brought together capacity development providers, business development support and government officials in the two cities.

    The participants were presented with the initial findings from the ecosystem survey; they expressed their opinions on the status.

    Poor business skills among SGBs, low levels of philanthropy, low levels of collaboration between actors, concentration on the oil and gas sectors and negligence of other sectors, among other things, were identified by the stakeholders as the key challenges of the SGBs’ support organisations in the Port Harcourt entrepreneurship ecosystem.