The Nation Newspaper

Tag: investment

  • Not what you get but what you give

    SHE spent a fortune to buy the jewellery and every morning, all she did was to take a good look at it, smile and put it back into the treasure chest. Great investment, and then one day she needed some cash and her mind riveted that way. Yes, she was going to use this investment to get what she wanted. But to her utmost surprise, the charming gold bracelet was fake. Fola felt really bad, she threw away the box and its content. How can she hold on to something that is so worthless?

    Interestingly, that is the way it is for a lot of relationships. You keep the person you treasure in the uppermost part of your heart. Like gold and diamonds, they have been treasured for so long and your dream is to keep them there forever. But then somehow something happens and your emotional treasure turns out to be a bundle of affectionate disappointments. It becomes useless and you just want to put ‘it’ behind you. Usually, when you end a relationship that felt like it had a lot of “promise” and connection, it’s hard to believe you’ll ever find love again, at least in quite the same way.

    You might even vow not to date again for a long time, because you just don’t want to get hurt again. It can feel pretty safe to live inside the little “bubble” you make for yourself, just working on your career, spending time with friends, doing things that make you happy. What do you need a man for anyway?

    You put yourself and your love life in a “holding pattern” because you don’t want to let another man in or get close.

    You don’t want to be vulnerable. What’s the point, if all that’s going to happen is that you’ll end up feeling more of the same? Well, the truth of the matter is that love does not always work this way. Sometimes you win and there are times when you lose.

    If you are really honest with yourself, you’ll realise that you don’t want to shut yourself off from what can be the opportunity for an amazing, life-long experience. As a matter of fact, one great guy you’re meant to be with could be out there somewhere. And unless you create the “space” for him in your life, you won’t be ready for love when he finally surfaces.

    If you’re not taking a risk, then you may just be risking never feeling the love and connection that could transform your life someday. Of course, if your experience with the opposite sex has been, well, less than great, then you would surely have some reservations. For those in this category, they would rather stick a twig in their eye than date again. But the simple truth is that you can experience the kind of love that you’ve always wanted in your life, regardless of what kind of bad experiences you’ve had before.

    When you wear an emotional love crown there are lots of expectations. And because so much has been given, you would also want to give back to your crown prince. Once you do not meet the person’s expectation, then things are likely to fall apart. Here you would be thinking of how to get back the love, passion, and enjoyment out of love and life. For a lot of women, it is important because they prefer to stop the vicious cycle of getting into a relationship, getting a man, and then losing themselves. The ultimate goal usually is to have a truly loving and “evolved” relationship.

    You can also achieve this if you learn to change the way you go about your relationship, you can make this change happen in the man you’re with – or in the kind of man you attract.

    Some, however, believe that you can only get to your love destination if you get the right partner. Sometimes , you don’t need to wait for the right relationship to “happen to you,” when you have the power to make it happen for yourself and feel 100% confident about where your love and relationship is headed.

    In a lot of relationships, the sparks reduce when there is breakdown in communication. Mistrust, arguments and feelings of hurt are likely to occur and recur in this kind of relationship. It further leads to a continual state of frustration, misunderstood feeling and being unappreciated. The truth of the matter is that unexpressed feelings usually pile up and poison the relationship. The emotional buttons that your partner pushes in you can make you happy or angry depending on how you guys connect. So, it is better to be committed by listening not only with your ears but also with your heart.

    Always remember that in any relationship it is not what you get but what you give that matters. Criticism, contempt, being defensive and stonewalling are signs that the sparks you once enjoyed in a relationship are going or gone. Even though teasing is an important tool for building healthy relationships, you need to understand your partner to know what jokes are appropriate and those that are not. Please don’t overstretch your limits when it comes to joking or teasing your partner.

    The truth about attraction is that it is not just about being a great beauty, or about seducing a man into having feelings for you. It is actually about something deeper and more long-lasting. And the best part is that once a man feels this level of attraction for you, almost nothing can keep him away from wanting to be with you.

  • ‘Investment in submarine cables hits $2.2b’

    Communications Minister Adebayo Shittu yesterday said investments in submarine cables in the past five years have reached $2.2 billion.

    According to the minister, “active submarine cables into the country now include SAT3/SAFE, Glo-1, ACE, MainOne and WACS with many other cables under construction”.

    Shittu, who spoke while delivering a key note address at the opening of the 2018 Edition of the Nigerian Internet Governance Forum (NIGF) at Shehu Yar’Adua Centre, Abuja, said the coming of such investments into the country was a huge boost for the telecoms industry.

    He said under the present administration, the country embarked on a journey towards building a Smart Digital Nigeria as enshrined in the ICT Strategic Road map 2017-2020. He said the road map is consistent with the Economic Recovery and Growth Plan of the Federal Government.

    “Nigeria has attracted investments of over $2.2Billion in submarine cables in the last five years. Active submarine cables into the country now include SAT3/SAFE, GLO-1, ACE, MAINONE and WACS with many other cables under construction.

    “We envisage a society with the knowledge and means to make transactions anytime, anywhere and by anyone. The Ministry has attained some major milestones in its mandate of developing the telecoms and ICT sector: Nigeria’s active mobile-broadband penetration has gone from less than 10 per cent in 2015 to 20.95 per cent in 2017; Nigeria’s internet penetration reached a milestone of 47.44 per cent.

    “Nigeria is Africa’s highest active Internet users with (over 103 million subscribers as at May 2018) and ranks 10th globally.

    “The bulk of these data subscribers are on 4G Technology, with a good number of Telecommunication providers now offering 4GLTE services. It is our belief, that as a nation, broadband internet access should be the right of the citizens, just like water and air.”

     

     

     

     

     

     

     

  • Multi Fund structure investment begins

    • Contributors, retirees kick

    The National Pension Commission (PenCom) on  July 1 started the implementation of Multi Fund investment structure, a new investment regulation that allows pension contributors to make choices on how they want their pension fund invested based on their risk appetite.

    The new initiative, according to PenCom would help improve returns on pension funds.

    Sadly, the contributors, also known as Retirement Savings Account (RSAs) holders under the Contributory Pension Scheme (CPS), are not aware of the new development.

    Findings by The Nation showed that there is low awareness and inadequate communication to the contributors, especially on the part of Pension Fund Administrators (PFAs).

    Going by the new scheme, the PFAs are required to provide contributors with information on the benefits and risks of the various funds, prior to approving any change.

    The Commission and the PFAs were to embark on public enlightenment and sensitisation campaign prior to the commencement date. The Multi-Fund introduction for RSAs funds is also expected to address the varying risk appetite of contributors as the different funds are tailored to fit the ages and risk profiles of contributors.

    A contributor who simply identified himself Mr Uguwanyi said he is not aware of the new investment pattern. “I do not know anything about Multi Fund Structure and my PFA has not reached out to me on it,” he said.

    Another contributor, Mrs. Remi Adeleke, also claimed ignorance of the investment pattern. “I am not aware of any Multi Fund structure, but I know there is a lot of money in the pension fund. Many people have asked that the fund be used for mass housing. But nothing is accruable to me.

    “My company is not even remitting my pension to my PFA and no regulator is asking them questions. I don’t even know if they have a regulator and if they do, the regulator should please investigate some of these employers.

    “I know it is a criminal offence for an employer to deduct money from my salary and not remit same to my PFA. It is unfair to deduct my money and keep. I know it is a contributory pension scheme that the country is operating, but the regulator should make it work the way it ought to. I am losing interest that should be accruable to me,” he said.

    Head, Investment Supervision Department, PenCom, Ohioma Ehimeme, said the main objective of the RSA multi fund is to resolve the challenge of asset-liability risk management experienced by pension funds.

    He said this would be achieved by better aligning the risk and return expectations of contributors, better matching of pension assets and liabilities, as well as diversification of pension fund portfolios as minimum limits are set for aggregate investments in variable income securities for each fund.

    He said: “The multi fund structure comprises four funds, which differ from one another based on overall exposure to variable income instruments. Fund One is for young contributors based on choice; Fund Two is for young and middle-aged contributors , ages 49 years and below; Fund Three is for pre-retirees, ages 50 years and above; while Fund Four is for retirees.

    “The different fund’s portfolio mix is designed to fit the ages and risk profiles of contributors. All active contributors will default to Fund Two and Fund Three on this date. Contributors that wish to move to a different fund (within the allowable active choices) would be required to make a formal request by completing the necessary form to be provided by the PFA.”

    Reacting to the low awareness on the investment structure, PenCom’s Head of Corporate Communications, Peter Aghahowa, said the new structure commenced on July 1.

    He also affirmed that there is low awareness as a result of low sensitisation of the public on the part of the PFAs.

    He said PenCom, on its part, has been creating awareness on the new structure on radio, television and newspapers.

    He noted that from July 2, PFAs would have automatically moved contributors into the fund, adding that the PFAs are meant to communicate with their contributors and make them fill forms on their choices.

    “Yes, awareness level is low. PFAs are expected to do a lot. Since Monday, they have automatically moved people in the fund. But they suppose to ask them to make their choices.

    “But we are on their case. We are having a meeting with them and educating them on what they need to do. It appears they are all having different plans and they have assured us that they will do the needful. But if they don’t, the Commission will sanction them accordingly,” he said.

    The Managing Director of one of the PFAs, who spoke on condition of anonymity, said maybe they are just being too careful and avoiding sanctions. He noted that this seems to have affected them from rolling out their plans.

    He said there is low awareness on pension modalities generally  not to talk about multi fund structure.

     

  • Mimiko canvasses investment in quality education

    Former Ondo State Governor Olusegun Mimiko has called for significant and sustained investment in quality education for the massive development of the nation.

    Mimiko spoke at the maiden edition of the Education Risk & Governance summit organised by Conrad Clark Nigeria in Lagos. He said Nigeria as one of the most resourceful countries in the world would benefit hugely from a significant and sustained investment in quality education.

    He said that such an investment would create massive development in the country and increase income flow into the economy.

    The Director General, Lagos State Office of Education Quality Assurance, Mrs. Ronke Soyombo, emphasised the need for schools to adopt the starfish structure of leadership and governance.

    This, she said, is a structure where every arm of the school is learning and growing at the same pace and where roles are properly defined and carried out accordingly and effectively.

    The Chief Executive Officer of Golden Links Educational Consultants (United Kingdom), Angelina Ikeako addressed the issues of violence, abuse and safeguarding of children.

    She emphasised the needs to empower children to speak up when abused and challenging the norm of being silent.

     

    Ikeako said: “It is time to move from strategic practices to operational practices and also to implement and monitor the child protection policies already in place to know if they are effectively carried out.”

     

     

  • Firm holds lecture on investment Thursday

    A law firm, Rosberg Legal Practitioners & Arbitrators, will on Thursday hold its Executives Annual Lecture.

    Its theme is: Managing risks in cross-border businesses: practical tips for Nigerian businesses and foreign investors seeking to invest in Nigeria.

    It will hold at the Radisson Blu Anchorage Hotel, Lagos.

    A statement by the Managing Partner Mr. Greg Nwakogo said the lecture series was a social initiative that brings business executives together annually to stir conversations on topical issues that affect business and governance.

    “It is imperative that we discuss at such fora the necessary safeguards investors need to consider and which should allay their fears and ultimately make our economy prosperous. The event is free of charge but by invitation only,” Nwakogo said.

    Those expected at the event are Senior Special Assistant to the President on Industry, Trade and Investment Dr. Jumoke Oduwole, Director General /Chief Executive of the Consumer Protection Council Mr. Babatunde Irukera and Group Chief Executive Officer, United Capital Plc Mrs. Oluwatoyin Sanni.

    Others are Former Assistant Secretary-General International Chamber of Commerce (ICC) International Court of Arbitration, Paris, France Mr. Jose Ricardo Feris and Head, Litigation and Dispute Resolution, Nigerian Bottling Company Mrs. Chinwe Odigboegwu.

  • Our $5b investment under threat, say investors

    fish giants have begged the Federal Government to save their investments of over $5 billion from imminent collapse.

    They said from 40 fishing companies operating almost 250 industrial vessels 15 years ago, the industry is nothing to write home about today.

    Speaking under the aegis of the Trawler Owners Association (NITOA), they said their operations were being affected by what they called the economic harsh environment.

    NITOA National Vice President, Gen Morounfolu Aromire (rtd), said: “Despite the more than $5.2 billion investment of our members on jetty facilities, equipment and infrastructure, only about 130 vessels are in operation due to the harsh situations that the industrial fishing operators have had to contend with.

    “These have led to several companies going into limbo to the extent that only 12 companies are operating now.”

    The group said with support, it would assist “in generating the much-needed foreign exchange from the non-oil exports”.

    NITOA’s operations, Aromire added, provided employment to over 6,000 Nigerians and more than 600,000 jobs indirectly across the country before their predicament, adding that the government needs to assist them.

    The group, he said, would have improved on its shrimp production and export capabilities and increase local fish production level from 10 per cent to 35 per cent, if not for the challenges facing them.

    “Sea armed robbery and piracy have led to the killing and maiming of crew men, thus making the highly productive areas in our marine waters inaccessible.

    “While we must accept that the situation is much better than it was few years back, there is still a lot of room for improvement. Attacks were still reported some few days ago. NIMASA must synergise much more with the Nigerian Navy to ensure that our maritime environment is safe and secure.

    “While we appreciate efforts by the Federal Government at earmarking a fisheries terminal at the KLT in Lagos, the encumbrances on the way of those efforts may not allow it mature as quickly as one may wish.

    “We, therefore, want to further suggest that companies already operating from KLT 1 and 2 be allowed to continue to operate from their locations.

    “NPA may only need to charge some reasonable commercial rates, but which will not drive operators out of business,” he said.

    The Shippers Association of Lagos (SAL) has also cried out over the rising robbery on the waterways.

    The waterways, it said, had become a haven for robbery, urging the Nigeria Maritime Administration and Safety Agency (NIMASA) to secure the terrain.

    SAL President Mr Jonathan Nicol said NIMASA must collaborate with the law enforcement agencies to tackle the problem. Nicol urged NIMASA to do more to secure goods and ships on waterways.

    “NIMASA should use helicopter regularly to checkmate these pirates and also seek the protection of the Navy, Customs and the police on the issue.

    “If the Federal Government fails to do this, it means we are going to lose so much revenue from the maritime sector,” Nicol said.

    A shipper, Mr Solomon Anderson has suggested radar and satellite technology as part of the measures NIMASA should look into in finding a solution to the problem.

    He called on the National Assembly to look at the Anti-Piracy Bill before it as many indigenous companies have been crippled and many children orphaned because sea pirates activities.

    Anderson also identified radar technology and effective information sharing as the solution to the incessant high-jacking and robbery of shipping trawlers and oil vessels.

    “Nigeria’s food security is being affected; our foreign exchange is being affected because these activities lead to capital flight as more foreign vessels now do most of the jobs,” he said.

    But NIMASA’s Director-General Dr Dakuku Peterside, said the agency was addressing the security challenges on the waterways.

    He added that the agency had initiated some positive measures to enhance security within and outside the nation’s territorial waters.

    Peterside said the agency was working with security agencies, such as the Air Force, Navy, Army and Police, to ensure that the waterways are safe for freighting and fishing.

    He advised trawler owners to ensure that they paid adequate attention to the remuneration of their crew because many are poorly paid; noting that poor pay usually leads them into criminal activities, such as selling their first catch at sea and subsequently drawing the attention of pirates.

     

  • Fraud in Social Investment Programme

    Fraud in Social Investment Programme

    SIR: We laud the honesty behind the disclosure of the fraud involving the Social Investment Programme of the federal government in some states as announced by the Special Adviser to the President on Social Investment Programme, Mrs. Mariam Uwais. We align with her suggestion for proper monitoring of the scheme nationwide. This kind of honesty is needed in our collective effort to fight corruption in the country.

    It clearly shows that there is no hiding place for the corrupt under her watch. It clearly shows that there is hope at the other end of the tunnel in our fight against graft and she deserves commendation.

    The presidential aide’s admittance that “the Federal Government was weak in the monitoring of the implementation of the programmes reinforces the need for civil society partnership with government to strengthen the monitoring of expenditure of funds meant for the programme.

    Uwais had listed those corrupt practices as including shortchanging, racketeering and harassment of beneficiaries as well as exploitation of the vulnerable. It is sad to note that state officials working under the programme were taking undue advantage of the poor people they were supposed to be serving and helping to exit poverty. We call for full scale investigation by the federal government to bring all suspects to book to serve as deterrence to others.

    ANEEJ as a leading CSO in monitoring of the use of public funds for poverty eradication in the country would bring our experience to support the effort of government in this regard, more so as some looted funds being repatriated from Switzerland and other sources are being chanelled to National Social Investment Programme. We would join forces with other stakeholders to ensure that monies meant to combat poverty are not looted by the corrupt at the state levels.

    The social investment programme of the federal government was put in place by the Buhari administration as a palliative measure. It seeks to create jobs through a school feeding programme for children in primary schools and soft loans to indigent women and youth. Prior to revelations by the organisers of the programme, there have been complaints regarding the quality of food being fed to school children and ghost recipients who have hijacked it for fraudulent intents. These instances reveal that the programme, laudable as it seems, may be one example of a social remedy which may not have been well-thought out for execution.

    It is for this reason that ANEEJ calls for a committee to be set up by the federal government to rejig and re-evaluate the programme based on the revelations of corruption and irregularities expressed by the coordinators of the Social Investment Programme.

     

    • Rev David Ugolor,

    Africa Network for Environment and Economic Justice,

    Benin City.

  • ‘Africa’s investment opportunities untapped’

    ‘Africa’s investment opportunities untapped’

    Africa still has great business and investment opportunities that are largely untapped, Goldmine Global Services, a Nigerian firm which facilitates inter-nations trade fairs,  has said.

    The company said the trade volume between Indonesia and Africa as at 2016 was $7.6 billion, of which trade with Nigeria stood at $2.5 billion.

    Its Chief Executive Officer, Mr. Ismael Balogun, who spoke with reporters during the briefing on the inaugural edition of the Indonesia-African Forum tagged “Sustainable trade and investment cooperation”,  said Africa was a potential market for Indonesian consumer goods, such as garments, technical cooperation, motorised vehicles, among several products that could be in demand in African.

    He said: “Similarly, Africa is swarming with raw materials Indonesia may need for its manufacturing industries. More than 20 Indonesian companies, including textile producer Indorama, Orange Drugs, Kalbe Farma and Tolaram Group, have partnered Nigerian firms and have invested in Africa. There is a N5 billion modular refinery in Akwa Ibom State, N6 billion investment between Tolaram Group and Kelloggs, Indomie instant noodles and the manufacturer, Indofood Sukses Makmur, has six plants in Africa with the biggest one in Nigeria.”

    According to him, the Indonesian-African Forum, slated to hold from April 7 to 14 in Indonesia, is geared towards exploring various economic opportunities to strengthen technical cooperation and enhance existing partnerships between both countries.

    “The forum intends to provide a unique opportunity for around 550 people from Indonesia business community, high level government officials and other stakeholders to gather, interact and explore ways to establish concrete economic cooperation and expand business networks.

    “We believe the Indonesian-African forum would provide a platform for Nigerian and other African businesses to showcase what they have to offer to the Indonesian business community thereby improving the probabilities of attracting inward cooperation and investments in terms of foreign direct investments from Indonesia” he said

    On Indonesian firms already operating in Nigeria, Balogun revealed  that the EXIM Bank of Indonesia had pledged to finance Indonesian businesses in Nigeria and encourage others with plans to invest.

    An Executive Director of the company, Mr. Michael Majekodunmi said the government of Indonesia was prepared to grant visa to genuine businessmen who wish to visit Indonesia and explore business opportunities.

    The firm’s ITPC Director, Bagus Wicaksena, noted that the trade volume represented the second largest the Indonesian government traded with the continent.

    The inaugural edition of the forum, he said, is an Indonesian government initiative aimed at promoting and strengthening trade and investment between Indonesia and Africa.

    “The forum will generate new ideas aimed at strengthening bilateral trade with Nigeria. We have experienced a promising trade relationship with Nigeria as it has grown by 10 per cent. West African countries are strategic partners in terms of trade and we want to forge stronger bilateral relationships with countries in the continent,” Wicaksena said.

  • Some investment windows in 2018

    Some investment windows in 2018

    In the growth sector, small businesses are, particularly, success stories as they out-perform others. DANIEL ESSIET identifies promising business opportunities for entrepreneurs to explore.

    Nigeria is a land of opportunities. There are hundreds of profitable small businesses one can start with less than N500,000. They are:

    Mobile restaurants and food kiosks

    Nigerians still patronise mobile food restaurants and delivery services. Eating on the go is a viable alternative to a sit-down restaurant. Getting home cooked food in office is a blessing for the hard worker.

    In cities, such as Lagos, there are early rising workers who move out early to meet their busy schedules. They want good meals. What workers prefer is ready-to-eat meals delivered fresh. For delivery, one needs to invest on a transport vehicle.

    Workers want food freshly-delivered and prompt like ordering a take-out from a restaurant.

    One can start delivery in an area and expand later. Starting small is a lot better than not starting at all. One needs a small space, disposable utensils and food containers. If the business is conducted in a home, the food delivery kitchen must be separated from the family kitchen and must conform to restaurant standards.

    The strategy to succeed is to cook good recipes. Think of signature dishes and start perfecting them.

    The challenge of this business is that as customers increase, the quality of dishes decrease. One must ensure quality control and target the number of customers to serve daily. If you love baking cookies, cakes, or any pastries,  you might as well share your awesome skill to the world.

    Clothing business

    Clothing is a reliable business. One can start small with N100, 000.

    Most Nigerians opt for budget clothing and will patronise sellers provide quality and affordable items. Many people looking for budget clothing will buy used clothes known as bend-down boutique.

    Laundry & dry cleaning service

     Having a good laundry business means a good fortune. The better option is to have a mobile laundry pickup and delivery services. One can start from a small shop. Start out with one or two-washing machines and a dryer. It is not a labour-intensive operation.

    Day care centre

     At present, most families have both parents working. Thus, they need a reliable day care centre, in which they can entrust their children while they are at work.

  • College seeks investment in solar energy

    The Federal Government has been urged to invest more in solar energy to meet up with the electricity challenges.

    At the End of the Year/Graduation of ABITECH Engineering College in Ikorodu, Timothy Obano, the Chief Executive Officer, said the potential of solar in Nigeria as a source of power is “absolutely enormous.”

    Obano said the solar energy, inverter and other trainings in the College, is one of the renewable training schemes designed to generate employment for the unemployed graduates.

    He urged graduating students to put their training into good use by also creating employment.

    “This is our modest contribution to development and improvement of our energy sector, so I urge the graduates to become vibrant employers of labour that will positively affect this generation,” he said.

    He said lack of conventional electricity infrastructure paves way for rapid deployment of solar.

    “In Nigeria, for instance, there’s currently an energy deficit of 170,000 megawatts, the majority of which can and should be filled with solar energy,” he said.

    Debunking claims that solar power and inverter are expensive, Obano explained that the recent innovations in battery storage and the falling cost of solar panel technology had made solar increasingly accessible in Nigeria and beyond.

    He also assured customers that his company gives 30 years guarantee on both solar and inverter system assembled by his company.

    He expressed optimism that in future many Nigerians would accept the alternative source of power, adding that solar energy is fully accepted as a safe, efficient and environmentally friendly energy source.

    ABITECH’s Head of Electrical and Solar Department, Abah Dominic Ogwuche said the college has empowered many youths through trainings in solar energy and computer skills acquisition.