Tag: growth

  • ‘Right foods good for children’s growth’

    Toyin Onigbajo is the founder of August Secrets Nigeria which is about giving the child the right foods. She reveals that the aim was to provide healthy recipe from locally made foods for the Nigerian children from six months to five years. In this interview with OLATUNDE ODEBIYI, she said the major target was busy mothers who wish to feed their children healthy foods but do not have the time. The recipes have broken it down to make the foods half-made. Excerpts:

    What kind of foods are you looking at?

    Our foods are made from guinea corn, yellow corn, soya and potatoes. We have a way of mixing them into cereals and we have five of them which include crayfish, fish, nutty meal which contains soya and groundnut. We have maize and grains which contain rice and potatoes, we have vegebeans which is blended with vegetables. If you look at all of these, you would realise that the key things mothers need to feed their children are these. But a mother is already tired when she gets home, so having to do all of these to feed their children is not possible, So, they end up having to give their children adult food which is not good.  We formulated all of these for the children.

    Our foods have so many health benefits, because a growing child needs iron the most and vitamins. But they also need everything in the right proportion and they also need all of these foods to be well prepared. But most mothers are confused; they put beans on fire not knowing that they are meant to peel it. When you don’t peel the beans, all the things from the insecticide would go into the food which is not good for the baby. That is what August Secrets does. All our foods have the complete nutrients; just add one or two things, including oil, crayfish and fish.

     

    Are all your products locally made?

     

    Yes we have 98 per cent of our raw materials locally sourced for; it is only the plastics that are imported.

    Most developed world that we copy always encourage that all our foods, the closer the foods are to you, where it is grown, the healthier, if guinea corn, soya and groundnut is grown here in Nigeria, it is the best for us. A lot of people are looking inward and realising that locally-made food is the best.

    The only thing I need from government is to give me a factory and I will pay back in three months. Give us a factory to produce, give us clusters, the cost of setting up a standard factory is expensive, just give me the factory and I will provide the raw materials.

     

    What is your business model?

     

    Our business model is to reproduce. We rent a factory to produce, we package into manual, we pour into container and label. Once we are done, we have an online platform and we have been able to make headway.

    We encourage people to pay first, and this makes it less likely for our distributors to be attacked. The risks are not too much for us because we deal with women.

     

    Unique selling point

     

    It is our creativity. If you see the food, you will want to eat it. If you see how it is prepared, it looks nice and beautiful.

     

    How did you start?

     

    I started alone.

     

    What is the growth stage like?

     

    We have five members of staff and 11 distributors in Nigeria, one in Ghana, one in the United Kingdom (UK) and one in US. We have indirect employment, delivery men, we have about 11 from the headquarters and we have delivery men in all the states.

     

    Did you grow the business?

     

    There is the God factor, hard work and quality. If you insist on quality, your brand will sell. Hard work means research, openness to learning and good accounting skills.

     

    About the book launch

     

    The book is a document of all our recipes, for children who do not eat well, mothers who are worried about what their children are going to eat, we have lots of recipes contained in the book, which is like a keep safe for the children. It is a complete guide for the Nigerian mother to save her children of food.

    We made them short and it comes with pictures. Some mothers may be confused and not know what recipe to mix. This has been explained in the book and it is detailed. People call us for consultation. The book is to answer the many questions people may ask.

    From six months to five years, you don’t need to bother on what your child would eat, adults can also take it, even beyond five years.

     

    Your message to the Nigerian youths

     

    Learn to work harder and be more productive. We say government, if  you can think of what to do or the value you can add to people, you will earn from it. Don’t sit looking for job. Do something and you will be able to live your life.

     

  • Portland Paints outlines growth plan

    Portland Paints and Products Nigeria (PPPN) Plc yesterday assured shareholders that it would consolidate its growth by implementing strategic initiatives that will boost performance in the new business year.

    At the annual general meeting in Lagos, Chairman, Portland Paints and Products Nigeria (PPPN) Plc, Mr. Larry Ettah, said the company proactively worked on cost reduction and optimization in all areas of its operations to ensure sustainable growth and value creation for stakeholders.

    He said the company will now focus on consolidation of all the initiatives that it launched in 2016 while implementing new strategic initiatives to drive growth in the new business year.

    “In 2017,  your company will focus on further consolidating on the initiatives we started in 2016, expand our distribution network and improve our brand visibility to ensure we deliver on our corporate objectives,” Ettah said.

    He pointed out that the company had recently concluded a new capital raising under which the company was able to raise two-thirds of the offer size.

    According to him, Portland Paints and Products Nigeria will continue to focus on its restructuring push to drive further growth and enable it deliver better value to all stakeholders.

    He noted that the company has started witnessing a turnaround as it reversed a loss of N232.98 million posted in 2015 with a modest profit after tax of N8.6 million in 2016. Turnover however dropped marginally by 9.0 per cent from N2.17 billion in 2015 to N1.97 billion in 2016.

    Portland Paints recently raised about N668.8 million in new equity funds from its recent shares issue. PPPN had in the first quarter of this year launched a rights issue to raise N1.02 billion from existing shareholders through a rights issue of 600 million ordinary shares of 50 kobo each at N1.70 per share. The provisional allotment for the rights issue was on the basis of three new ordinary shares for one ordinary share.

    Regulatory documents showed that a total of 393.42 million shares were validly accepted at N1.70 per share, totaling N668.8 million. The supplementary shares have been listed at the Nigerian Stock Exchange.

    The net proceeds from the rights issue would be used to restructure the company’s balance sheet and support its business expansion programme.

    In June 2013, UAC of Nigeria (UACN) Plc, Nigeria’s largest conglomerate, acquired the majority equity stake of 51 per cent in Portland Paints.

  • Nestle Nigeria plans new investments to boost growth

    Nestle Nigeria plans new investments to boost growth

    Nestle Nigeria Plc is considering new investment proposals to strengthen its nationwide production and distribution networks with a view to driving the growth of the consumer goods company.

    Chairman, Nestle Nigeria Plc, Mr. David Ifezulike, told shareholders at the company’s annual general meeting in Lagos that company was considering a lot of investment proposals that should strengthen the operations of the company.

    He said parts of the investment proposals include expansion of its operations in the South East and South-South regions of the country adding that the company will make public announcement of the new investments at the appropriate time.

    Ifezulike commended government’s economic diversification agenda noting that the focus on non-oil sectors such as agriculture and solid minerals would boost national growth.

    He also commended government’s efforts at ensuring local sourcing of raw materials for manufacturing but urged that government needs to ensure availability of foreign exchange for critical raw materials, which cannot be sourced locally.

    He pointed out that the 2016 business year was a challenging year due to scarcity of foreign exchange, devaluation of the naira and unfriendly economic policies among others.

    Nestle Nigeria’s turnover increased by 20 per cent from N151.3 billion in 2015 to N181.9 billion in 2016 but profit after tax slumped to N7.9 billion in 2016 as against N23.7 billion recorded in 2015.

    Ifezulike said that the scarcity of foreign exchange and devaluation of the Naira led to increase in the company’s foreign loans portfolio.

    He however added that current foreign exchange policy by the Central Bank of Nigeria (CBN) has enabled the company to pay back most of its foreign loans.

    In his remarks, Managing Director, Nestle Nigeria, Mr. Mauricio Alarcon, assured shareholders that the company would continue to work to impact the society positively.

    According to him, every day, Nestlé Nigeria touches the lives of millions of people, from the farmers who grow its ingredients to the families who enjoy its products, to the communities where the company operates, and the rural environment upon which it depends.

    “Driven by its purpose that is: enhancing quality of life and contributing to a healthier future, Nestlé Nigeria is committed to enabling healthier and happier lives for individuals and families, local sourcing, capacity building for farmers and rural development,” Alarcon said.

    He assured that Nestlé Nigeria will continue to stay true to the confidence its consumers place in it to guarantee the highest quality standards in the brands they know and trust for healthy nutrition.

  • Q1 economic growth negative, says NESG

    Q1 economic growth negative, says NESG

    Nigeria’s economic growth in first quarter (Q1) of the year remains negative, the Nigerian Economic Summit Group (NESG) Business Confidence Monitor (BCM) Q1-2017, has said.

    The report is a survey-based quarterly report that tracks actual performance of business activities and reveals the expectations of business managers in the short term.

    The report signed  by  NESG Chief Economist & Head of Research, Dr. Olusegun Omisakin, stated that actual performance of businesses in the first quarter of the year revealed that the business index stood at -5.4.

    He said the negative value was an indication that many businesses experienced sluggish performance during the period relative to the previous quarter.

    The statement, which was made available to The Nation, said on a sectoral basis, two sectors, manufacturing and services, showed positive performances with indices of 14.7 and 4.8.

    On the flip side, the trade sector showed a decline with an index of -10.4, while industrial sector (excluding manufacturing) recorded an index of -0.4, representing mild decline in activities.

    “Indices for the leading business indicators reviewed such as production, operating profit and employment were at positive readings of 9.8, 8.2 and 4.7 respectively, while cost of doing business and access to credit indices stood at negative trajectories of -41.3 and -23.7,” Omisakin said.

    According to him, in terms of future expectations, the BCM revealed a positive index of 34, which indicated positive sentiments and perception of business activities in the next two quarters-Q2 and Q3 2017.

  • Sterling Bank outlines growth targets

    Sterling Bank outlines growth targets

    •Shareholders laud resilience 

    The board and management of Sterling Bank Plc yesterday laid out the lender’s priorities  in 2017 as it begins the implementation of a five-year medium term plan aimed at enhancing its status  as “Nigeria’s financial institution of choice”.

    In his address to shareholders at the annual general meeting yesterday in Lagos, Managing Director, Sterling Bank Plc, Mr. Yemi Adeola, said the directors  had agreed on a five-point agenda in 2017 as the bank continues on its vision of long-term sustainable and competitive growth .

    The bank plans to prioritise efficiency over scale in its decision framework to be an institution built on smart people, smart structures and smart strategies.

    Adeola said the bank would also  strengthen and diversify its funding sources and capacity through a quicker and smarter execution of its retail banking rollout. Besides, it will also ensure disciplined use of its institutional liquidity and capital through improvement in lending practices and overall risk management culture.

    He added that the bank would also focus on excellent service delivery to internal and external customers noting that the bank’s service organisation must become the source of competitive advantage to sales organisation in order to deliver on its ‘one customer bank’ commitment.

    He said the bank would reemphasise commitment to execution excellence in all its transactions.

    “Over the next five years, we will be steering our ship differently and aggressively growing the retail business through electronic channels,” Adeola noted.

    He said the bank would continue to boost innovative banking – driven by market insights that would enable it   serve its customers satisfactorily while implementing significant investment in technology-led growth initiatives and accelerating the growth of its non-interest banking segment.

    Chairman, Sterling Bank Plc, Asue Ighodalo said the bank was poised to take advantage of emerging opportunities in the economy.

    He noted that the bank recorded resilient performance in 2016 in spite of the macroeconomic challenges as it reported profit after tax of N5.2 billion on gross earnings of N111.4 billion during the year.

    “I am proud to report that our bank remained resilient and we recorded notable achievements. We are therefore poised to take advantage of emerging, identified and created opportunities as our economy recovers from its most difficult period in recent memory,” Ighodalo said.

    He expressed optimism on the national economic recovery, pointing out that continuing improvement in the coordination of fiscal and monetary policy initiatives will expedite national economic recovery.

    Shareholders severally lauded the performance of the bank.

    President, Association for the Advancement of the Rights of Nigerian Shareholders (AARNS), Dr Faruk Umar, praised the bank for being prudent and responsible.

    Founding National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu also lauded the management of the bank for its positive and encouraging performance in 2016.

  • IPAN: quality products vital to growth

    For Nigeria to grow its economy, it should insist on quality products certified by accredited laboratories, the Institute of Public Analysts of Nigeria (IPAN) has said.

    Its Acting Registrar Duro Abdusalam stated this on Tuesday at the 25th Training Workshop of the institute in Lagos. It had as theme: The role of public analysts in a depressed recessed economy.

    He said the cost of circumventing lab analysis was heavy, warning that no government  would tolerate it. He said: ”Let’s embrace, vote for, spend on, invest in and rely on laboratory analysis. The cost of circumventing laboratory analysis is dear to pay – loss of revenue, bad image among comity of nations,further improvement and loss of jobs as well as denial of golden opportunities for growth and development of science, technology, etc.”

    He said the institute would continue to insist on its core mandate of proper analysis in every sector of the economy, especially in the food and health, to enable Nigerians enjoy its benefits.

    Specifically, it praised the Lagos State government for its strides in the water sector, adding that it should also extend same to food. He said: ”It is not only about water, even food – all of us here run the risk of slow death through poisoning from unwholesome food, water, drugs, cosmetics, medical devices, chemically or biologically-based consumer products. The entire population of Nigeria can be saved by investing hugely in lab analysis and ensuring wholesomeness consumer products. The prevalence of strange diseases and resistance of some of these diseases to drugs are all consequences of neglect. They are preventable.”

    Adusalam, who pledged the institute’s support for the government, praised it for its collaboration with UNIDO on the execution of the key components of the national Quality Infrastructure Project. ”IPAN spreads its hand of fellowship and is ready and determined to assist the ministry achieve its laudable objectives,” he added.

    Hon Tunde Braimoh, who represented the Lagos State House of Assembly Speaker, praised the theme of the workshop, describing it as apt.

  • ‘Infrastructure’ll drive real estate growth’

    ‘Infrastructure’ll drive real estate growth’

    The Managing Director of Cross and Churchill, Mr. Taiwo Ogunbodede, has said the full potential of the real estate sector can be better realised if the government put in place adequate infrastructure.

    Such endeavour, he further said, would also stimulate faster growth in the real estate sector.

    Ogunbodede, also the Chairman, Real Estate Developers Association of Nigeria (REDAN), Southwest chapter, with adequate infrastructure in place, people do not necessarily have to live in cities at exorbitant costs.

    “Housing will come into being when the Federal Goernment begins to put in place infrastructure. I like what Governor Akinwunmi Ambode of Lagos State is doing around Epe Division. The entire road network in Epe is on another scale. It means that you can live in Epe and work in Ikeja or on the Island. Coscharis is in Awoyaya, who would have thought that such a firm will come to Awoyaya? That is the effect of having good infrastructure in place,” he said.

    According to Ogunbodede, there is and there will always be demand for housing in the country. However, he said, what is lacking is the housing units to fit peoples’ pockets, and the housing type people put demands on. For instance, he explained that in the years the stock market boomed, people sold houses at N140 million to N150 million, because they made good returns on their stocks within a very short time. But things have since changed now meaning that developers and potential home investors have to check their pockets.

    On the increased survey fees being put in place by the Lagos Chapter of the Nigerian Institution of Surveyors (NIS), Ogunbodede said it is sending a dangerous signal to other professional bodies in the built environment. For instance, he explained that if a client is interested in buying a land for N4 million and he is being asked to pay N300, 000 as survey fees, then such a client can back out of such transaction.

    “I think it is not a fair thing to do at this time of recession; things like this can be a disservice to affordable housing which we all are trying to achieve,” he said.

  • Academia should set pace for societal growth

    Former Chairman, Leventis Group, Chief Joseph Oke, has urged the academia to guide policy makers in fashioning true federalism. He said Nigeria was at a crossroad in her democratic experiment.

    Oke, who was the speaker at a discovery lecture series organised by the Centre for General Nigerian Studies, Lagos State University (LASU), said successive governments had not been honest to Nigerians.

    The topic of the lecture was: “Can Nigeria survive another century as a corporate entity?”

    He said in the midst of crisis, the public had always counted on the ivory tower to be the torchbearer. He, therefore, called on LASU to lead the quest for solutions to Nigeria’s political misadventure.

    Oke added that the institution comprised tested academics, whose qualities and academic records put them in a vantage position to research on how to manage the unfolding political developments.

    Oke said the country had lost some opportunities to tell itself the fundamental truth on how to live together and avoid her present trouble.

    He added: “In fact, if it is not an error of commission, it must be a deliberate omission that a review of the Nigerian union was not undertaken in 2014 when the country was 100 years old.

    “Unfortunately, our successive governments have not been truthful to the people and to themselves by stage managing two or three previous meaningless national conferences. Is this because we are afraid to tell ourselves the truth?”

    He added that the survival of the country for another century is feasible, if only it embraced the call for Sovereign National Conference, look at issues of true federalism and cut the cost of governance.

    The speaker noted that the agitations from different parts of the country suggested that there was injustice where some groups see themselves as better than the others.

    He blamed the military for the flaws in the country, noting that the politicians have not learnt their lessons.

    “On hindsight, could one not be right to say that the military incursion in January 1966 that brought corruption into our political life, when the fact says that the military seized power to stop corruption?

    “This singular error has stunted the growth of Nigeria to the extent that 100 years after amalgamation, we are still looking to workable constitution that will drive our economy and political life.

    “Rather than address the issue of the union with some seriousness, our leaders deliberately ignored the call for a Sovereign National Conference, which to my mind is like postponing the evil days.

    “It is a pity that successive governments have behaved like our colonialists, who in 1825 drew lines on the map of Africa to indicate the areas that belonged to each European country,” he said.

  • IMF: finance ministers discuss growth sustenance

    IMF: finance ministers discuss growth sustenance

    More than 150 Finance Minsters across different countries of the world are discussing ways to ensure that ongoing economic recovery and growth in their respective countries are sustained, International Monetary Fund (IMF) Managing Director Christine Lagarde said yesterday.

    Nigeria’s Finance Minister Mrs Kemi Adeosun is among the ministers in talks with their counterparts across the world on sustained economic growth. The IMF projected that Nigeria’s economic growth would rise by 0.8 per cent this year.

    Lagarde spoke at the opening news conference of the IMF and World Bank Spring Meetings in Washington, said there was no single country in the world with negative forecast for this year even as the world economy is projected to grow at 3.5 per cent this year.

    “We are finally seeing the global economy picking up the momentum, which will be sustained. We need to ensure that the momentum is sustained and growth shared more equitably. We’re discussing how to sustain the momentum with finance ministers. We need to reinvigorate productivity through innovation and trade,” she said.

  • Regionalism and growth: angles from the North

    The only place where there is availability of work is the north because it produces a greater percentage of the food we eat as well as those used by some of our industries. 

    As this column had observed several times in the past, regionalism is creeping back into the country’s political lexicon, and justifiably so. The latest region to enlist members of its elite corps in the choir of progressive regionalism is what used to be called The Northern Region before the fragmentation of the country’s four regions into 36 states, affectionately referred to by admirers of unitary governance as the country’s new federating units. The three top members of the region’s elite who have chosen to expand the conversation about regionalism are the Emir of Kano and a former governor of Central Bank of Nigeria, Sanusi Lamido Sanusi, former Vice Chancellor of Ahmadu Bello University and Spokesman of the Northern Elders Forum, Professor Ango Abdullahi, and former Vice President of the country, Abubakar Atiku. The views of these three vertical figures will form the core of today’s discussion.

    Regionalism, a word that defined Nigeria until 1966, gradually went into extinction during the decades of military dictatorship in the country. Regionalism and other synonyms: true federalism, regional autonomy, restoration of federalism, and re-federalisation crawled back into the country’s political vocabulary in the 1990s, particularly during the pro-democracy struggle against annulment of MKO Abiola’s electoral victory in 1993. But these words featured prominently in the circles of politicians and pro-democracy activists from the southern states. Regionalism until recently remained a word that was hardly used by politicians and political activists in the northern states. Most recently, Abubakar Atiku is referenced as the first major political figure from the north to popularise the concept of regionalism since the Sardauna of Sokoto.

    Atiku had acknowledged the importance of regionalism since the coming to power of President Mohammadu Buhari and the recession that has trailed his assumption of power: “Our current constitution does indeed concentrate too much power and resources at the centre, which has, in my view, impeded national development, security, peace and stability…. There is no doubt that many of our states are not viable, and were not viable from the start, once you take away the federal allocations from Abuja. We have to find creative ways to make them viable in a changed federal system. Collaboration among states in a region or zone will help.

    Atiku’s pro-regionalism rhetoric became more strident when he said: “It is clear to me that the resistance against restructuring is based on three interrelated factors, namely dependency, fear and mistrust. Dependency of all segments of the country on oil revenues, fear of loss of oil revenues by non-oil producing states or regions and mistrust of the motives of those angling for restructuring. And his conviction about the importance of re-federalisation and de-militarisation of the polity acquired more vigour when he advised: “We have a unique opportunity now, with all the agitation and clamour for restructuring, to have a conversation that would lead to changes in the structure of our federation in order to make it stronger, enhance our unity and promote peace, security, and better and more accountable governance.”

    Of course, Atiku has been criticised by many for attempting to take political advantage of calls for regionalism in the southern states as someone known to be interested in contesting for the presidency in the event of a vacancy in Aso Rock. And his analysis of the disadvantage of unitary governance in the country would have remained as playing to the gallery in the south if two other vertical figures in the north: Emir of Kano and Professor Ango Abdullahi had not raised issues about the source of underdevelopment in the north.

    With specific reference to human development indices in the north, the Emir affirmed at a recent conference in Kaduna: “We are in denial. The North-west and the North-east, demographically, constitute the bulk of Nigeria’s population. But, look at human development indices, look at the number of children out of school, look at adult literacy, look at maternal mortality, look at infant mortality, look at girl-child completion rate, look at income per capita, the North-east and the North-west are among the poorest parts of the world….As far back as 2000, I looked at the numbers, Borno and Yobe states, UNDP figures… Borno and Yobe states, if they were a country on their own, were poorer than Niger, Cameroon and Chad. Nobody saw this because we were looking at Nigeria as a country that averages the oil-rich Niger Delta, the industrial and commercial-rich Lagos, the commercially viable South-east, and you have an average. Break Nigeria into its component parts and these parts of the country are among the poorest, if it were a country. And, we do not realise we are in trouble.”  Of course, this statement does not canvass for return to regionalism the way that Atiku’s statement has done, yet it certainly has started to engender controversy in the north for giving the north a negative profile

    Unlike Atiku, Sanusi’s analysis of the situation of the north does not emphasise the issue of federalism. It, however, focuses on cultural or ideological problems that had inhibited development in the northern states (and other parts of the country) during the decades of unitary governance across the country. Unlike in the era of autonomous northern region of the 1960s, the region in the days of fragmented 19 states is seen by the former CBN governor as characterised by under-development that has arisen from northern leaders’ adoption of wrong values. However, the Emir has been forthcoming on the need for northern leaders to change governance philosophy and practice as well as their values. Relatedly, a special conference of political and cultural leaders of the 19 northern states convened a few months ago in Kaduna also addressed some of the issues raised by the Emir of Kano, without drawing a lot of flak.

    Perhaps, the issues raised by the Emir would have remained an intra-regional matter if Professor Ango Abdullahi had not brought up the imperative of breaking the country to allow the north to realise its huge potential arising from land, natural and human resources. Abdullahi’s claim: “The greatest advantage of the north over other regions is that 75 per cent of land in Nigeria comes from the North; agriculture contributes 45 per cent of the GDP against oil, which contributes 14 per cent. Apart from the foreign exchange which oil provides, which in fact has always been stolen by the leaders, there is nothing much to talk about. Presently, there is potential of oil in many parts of Northern Nigeria. Let me tell you that oil money is idle money, which Nigeria has not worked for. The only place where there is availability of work is the north because it produces a greater percentage of the food we eat as well as those used by some of our industries. In any case, there are countries that said they are not moving forward and decided that the best thing to do was to divide. So, what is wrong in dividing the country?” raises the issue of a new form of regionalism, one which allows the North to become an independent country free to exploit its abundant resources. This position contrasts with the view of southern leaders on the type of political structure that can advance the status of Nigeria as a country.

    Two issues that are referenced with varying emphasis by all the three positions are leadership and structure. These two concepts are often considered to be alternatives, especially by lovers of the political re-engineering of Nigeria during the decades of military dictatorship and the authors of the 1979 and 1999 constitutions. For example, references to the golden age under Ahmadu Bello, Obafemi Awolowo, and Nnamdi Azikiwe often ignored that these founding fathers also worked under a different structure, one which allowed each to be creative in governing his region and accountable to those they governed, without undue interference from the central government. It is ahistorical to emphasise the quality of individual leaders in the first republic at the expense of the quality of the structure in which they operated.

    The import of the divergent views of the three commenters on development of the north is not the absolute rightness of one or the other but the open expression of such views in a region often considered inviolably monolithic. A region that has cast itself as the father and protector of the unitary model of governance and fragmentation of states that had sustained unitarism for decades of military and post-military governance seems to be moving away from the belief that there is nothing wrong with the north, and by extension, other parts of the country. The divergent views of the three northern leaders referenced in this column certainly suggest the beginning of change in vision and orientation required to galvanise a national conversation on the way to change Nigeria in a way that encourages open debate about how best to redesign Nigeria for sustainable political democracy and economic development.