The Nation Newspaper

Tag: Millions

  • Fire guts goods worth millions

    Fire yesterday gutted the Police Officer’s Wives Association (POWA) shopping complex on Bende Road, Umuahia.

    Traders lost goods worth millions of naira in the early morning inferno.

    Nobody died in the fire, which was said to have started from one of the shops upstairs in a complex close to the Umuahia Police Area Command and Central Police Station.

    One of the traders said the fire started about 3am, adding that he was alerted by another trader and he and his wife rushed to the scene.

    He said when they arrived, fire fighters were already there, “but it is unfortunate that they did not stay up to two minutes because they complained that their vehicle was cutting gas.”

    The trader said the fire fighters left, promising to return, but they did not come back.

    He added that if they had returned, some of the shops and goods would have been salvaged.

    The source said: “If we have committed fire fighters in this town, some of these shops would have been saved. The attitude of the fire fighters leaves much to be desired.”

    Twenty-two shops located upstairs were destroyed.

    Although the cause of the fire was unknown, sources attributed it to electrical fault in one of the shops upstairs.

    One of the traders, a nursing mother, was said to have stocked her shop on Monday, a few hours before the fire. She reportedly lost everything.

    Police spokesman Geoffrey Ogbonna confirmed the incident.

    He said the command was investigating the cause of the fire.

     

  • Sure Steps Towards Making Millions In Business

     

    Nations are made by individuals who believe. Mrs. Adenike Obayemi, the CEO of Her Excellency, a skills development centre at 8 Owodunni Street, off Allen Avenue, in the Ikeja area of Lagos State is one Nigerian who believes in the drive to make Nigeria great through the grooming of young entrepreneurs. She has just published the well-packaged book, Make The Millions In New Businesses, an exquisite guide specially put together for children and teenagers in junior and senior secondary schools, students and undergraduates in sundry tertiary institutions and universities, and indeed all who want to excel in life. The book is a treasure-trove aimed at enabling the reader to acquire the relevant skills, domestic values and the necessary sense of responsibility to make it through life.

    An English Language Education graduate of the esteemed University of Ife (now Obafemi Awolowo University), Adenike Obayemi is a teacher, master trainer, mentor, motivational speaker and consultant. Through the publication of Make The Millions In New Businesses, Adenike puts on the front burner her abiding mission to empower and develop the inner potentials of Nigerian children and youths for positive results. The added dimension is to promote self-employment and entrepreneurial culture in the wider society. On the practical front, there is the pivotal mission to teach the young female children the art and skills of baking, cookery and the production of drinks.

    The essence of the book Make The Millions In New Businesses takes pride of place as it has been discovered that most of the vices and challenges today’s youths are faced with in terms of gross unemployment, under-employment, prostitution, fraudulent practices, idleness, lack of self-esteem, and self-worth are due to the fact they have not been properly exposed to a complete form of education. Adenike Obayemi strongly makes the case that for a child to completely fit into the present world, there is the need to include into the school curriculum some form of handworks and skills acquisition programmes. She stresses that the best time to do this is from the early years in school.

    Written in simple, straightforward language and unique style with a step-by-step procedure which makes it very practical and easy to follow, Make The Millions In New Businesses is designed to help the students and their parents alike. The author knows that the busy lifestyles of the present-age parents have not helped matters for the young children because a lot of the roles the parents are supposed to play have been neglected or completely transferred to the school. She avers that it will therefore be in the best interest of all concerned for the schools to take the bull by the horn and ensure that this aspect of the child’s development is properly addressed. Adenike knows the heart of the matter through direct personal experience because, in the past few years, several parents have during the long vacations brought their children to Her Excellency centre to be trained in cooking and food preparation, cakes and bread making, pastries and beads making. She feels fulfilled that these acquired skills form an addition to their educational qualification, therefore making these children to have an all-round education.

    Make The Millions In New Businesses is meant to serve several purposes such as wealth creation, youth and women empowerment, poverty eradication and skills acquisition in different areas; and “it is not gender biased”. It smacks of ignorance for supposedly educated people to underestimate handworks because they feel it is only meant for the uneducated and school dropouts. The book makes the crucial point that the days of education for white collar jobs are gone.

    It is meet to adopt the words of Akinniyi I. Sowunmi, Leader/CEO of Popeman, Lagos in his Foreword to Make The Millions In New Businesses, to wit: “Since March 27, 1944 when Asa Griggs Candler registered the Coca Cola patent and used his entrepreneurial skills to launch the Coke, a drink originally meant to be patient medicine by its inventor, John Pemberton, into the most valuable global brand available at all nooks and crannies internationally… the challenge is to get fired by the ideas in the book to launch a business bigger than the Coca Cola onto our tables very soon with the guiding designs here provided.”

    With spiraling unemployment, there is no escape for the young Nigerian who does not embrace the step-by-step methods made for practical use in Make The Millions In New Businesses. There is the shining example of Tolani who “graduated from one of the best universities in South West region of Nigeria” who was frustrated during years of unemployment and under-employment only to eventually become a very successful employer of labour after undergoing training in Cakes Baking and Decoration at Her Excellency Centre.

    Adenike Obayemi undertakes a hands-on step-by-step procedure in Make The Millions In New Businesses. One gets to learn how to prepare Small Chops such as Puff Puff, Vegetable Springroll and Asun (Goat Meat Barbeque). Cocktail Drinks like Chapman, Tropical Sunset, Pineapple on the Rocks, and Strawberry Sensation are ready grist to the author’s mill. Nigerian Indigenous Soups, notably Edikang Ikong, Egusi, Efo Riro, Afang, Banga and Oha Soup, are picturesquely featured. The richly illustrated chapters encompass Bread Making, Snacks & Pastries, Cake Baking, and Desserts.

    In all, by studying the recipes adroitly set out in Make The Millions In New Businesses and going ahead to practice and master the productions one will definitely be on the success-laden road of starting a fulfilling business that will help move Nigeria forward economically. I wholeheartedly recommend that Make The Millions In New Businesses be adopted as a textbook for junior and secondary school students across all the states of Nigeria.

     

     

  • Disquiet in PDP as NWC member spends millions on choice cars, others

    Disquiet in PDP as NWC member spends millions on choice cars, others

    •Pro-Jonathan forces keep close tabs on chieftain

    There is unease in the ruling Peoples Democratic Party(PDP) over the spending spree of a top member of the party on choice cars for some Emirs and leaders in the North in case the region is opposed for the re-election of President Goodluck Jonathan.

    There were speculations that the big shot, who is a member of the National Working Committee (NWC), might be scheming for the Office of the Vice-President to displace the current holder, Namadi Sambo.

    But pro-Jonathan forces are not taking things for granted by keeping close tabs on the PDP leader.

    Investigation by our correspondent revealed that contrary to the posturing of some cabinet members and PDP leaders from the South, not all those working with the President from the North are backing his re-election aspiration.

    Some leaders of the PDP from the North are also being suspected of nursing covert plot against Jonathan’s second term bid.

    It was learnt that the attitude of the said NWC member is causing ripples in the party and within the  pro-Jonathan camp.

    The top shot is blowing cash running into millions of Naira to buy choice cars for Emirs.

    The bigwig has bought expensive cars, including Mercedes Benz 500, for some traditional rulers in Northwest, Northeast and Northcentral.

    It was gathered that the presentation of the cars was not accompanied with any solicitation for support for the President.

    The same leader is said to be at loggerheads with some PDP governors from the North over his surreptitious aspiration.

    A reliable source, who spoke in confidence, said: “In spite of the pro-Jonathan rallies in the South for his re-election bid, there are signs that not all the leaders and cabinet members from the North are totally in support of the second term aspiration. They are just tagging along till the right time.

    “A few cabinet members approached by the anti-Jonathan elements have said no to such a plot. They however warned the forces behind the plot against it because the President had been fair to all the six geopolitical zones.

    “Some of them are hoping that Governor Sule Lamido’s presidential project will work to make the presidential primaries competitive.”

  • How legendary traders made millions

    How legendary traders made millions

    One way to quickly achieve success in life is to have a mentor or learn from experienced people in one’s area of interest. The same applies to stock-investing. Therefore, it is a good idea that John Boik has written this text entitled “How Legendary Traders Made Millions” to assist (prospective) investors. Boik, a controller and former stockbroker has been the featured guest on business investment radio shows that have been broadcast throughout Canada and the United States.

    This author profiles eight of the greatest traders of all time, focusing on the historic trades and strategies behind the legends. He emphasises the need for you to learn from the legends.

    As regards structure, this text is divided into 12 chapters. Chapter one is christened “Industrial stocks produce a millionaire (1897-1909”. Boik explains that Baruch was one of the most successful stock market traders ever and transaction reiterated that his favourite time to purchase stocks was when the general market was beginning a strong upward trend after coming off a low market period.

    The author adds that Baruch’s observation skills and experience from watching and participating in the markets since 1891 gave him the confidence to take advantage of strong opportunities when the market presented them. “He made most of the errors many market participants make in the market over the prior six years when he was starting out and learning how the market operated. But he learned from his mistakes, decided he would never give up, and kept fast to his study,” discloses Boik.

    Chapter two is tagged “A few sidestep landmines to profit (1910-19)”. Here, the author says 1912 witnessed the end of the long recession in February that had begun two years before. Boik adds that it should be noted that these flat years were very frustrating to many active traders at the time. He explains that the first reason was because of Jesse Livermore. Boik expatiates that as the two-year recession ended in January 1915, the war in Europe had begun and some uncertainties were lifted, making the market to start picking up. The author educates that after a slow beginning in January and February, the market sprang forwards in March.

    He reveals that as America started to become the supplier of arms and food for the war, many leading stocks looked poised for solid returns. Boik says some of the leading stocks that stepped forwards included American Smelting, Bethlehem Steel, General Electric, etc. He adds that Livermore purchased Bethlehem Steel as it rose strongly and hit $98 per share. According to him, the very next day it hit $145, and Livermore sold out for a quick $50,000 profit. In Boik’s words, “It turned out he actually broke one of the vital rules of trading: don’t be quick to sell a winning leader…Livermore would actually end the year with $150,000 in his account as he clearly stayed attuned to a rising market and made trading and investment decisions within the context of a healthy and profitable market environment.”

    Chapter three is entitled: “Shrewd traders made and kept millions (1920-29)”. In this chapter, the author says the markets began the 1920s where they had left off in 1919 sliding downwards. Boik adds that Richard Wyckoff, during his continued study of the markets, remarked in 1920 that the market was changing. Boik explains that Wyckoff noticed after the war had ended, that there were many more industries vying for the lead in the market.

    The author discloses that through his observation, he (Wyckoff) concluded that he needed more than just pure market action to discover the real standout leaders for the future. And with this new expanded study in mind, Wyckoff set out and formed Richard D. Wyckoff Analytical Staff, Inc., in which he (Wyckoff) was the sole owner, says Boik.

    According to the author, “Wyckoff was more of a shorter-term participant, and he always made sure to retain his profits when he had them instead of giving them back…He did confine his trades to active leading stocks, and he conducted his own research. He would commonly trade what he called the ‘four horsemen’ of speculative stocks, which were American Can, Studebaker, U.S. Steel and Baldwin Locomotive….”

    In chapters four to 11, Boik analytically X-rays concepts of patience and flexibility (1930-39), illustrated with Gerald Loeb; victory creating more opportunity for a legendary trader (1940-49), illustrated with Gerald Loeb; innovative stocks producing fabulous profits (1950-59), illustrated with Nicholas Darvas; a ‘go-go’ bull run putting profits that studied history (1960-69), as exemplified by Jack Dreyfus and most getting whipped up and down except the best (1970-79), illustrated with William O’Neil.

    Other concepts are: a great trader outrunning the bull and avoiding the crash (1980-89), also illustrated with William O’Neil; new technologies producing unprecedented opportunities (1990-99), also illustrated with William O’Neil; and avoiding bear tracks keeps prior profits in expert accounts (2000-2004), exemplified with Jim Roppel.

    Chapter 12 examines the concept of learning from the lessons of history and the greatest traders. The author asserts that it pays to listen to one of the most successful stock market operators in history. Boik adds that the one has probably studied more than any other person, and in meticulous detail, the history and action of the stock market and the leading stocks that made the best gains throughout history.

    Conceptually, this text is rich. Stylistically, it is also on the high rung of the ladder. For instance, the author’s language is simple. Also, the depth of Boik’s research is especially underscored by the minutest detail and reflective illustrations accorded every chapter. He generously employs graphical embroidery to visually reinforce his conceptual details.

    However, errors of punctuation technically called “graphological errors” in “Stylistics”, an area of English Studies, are noticed, e.g. “Through his observation he concluded that he needed more than just pure market action to discover the real standout leaders for the future…With this new expanded study in mind he set…” (pages 34-35), instead of “Through his observation, he concluded that he needed more than just pure market action to discover the real standout leaders for the future…With this new expanded study in mind, he set….”

    Finally, this text is a classic. It is a must-read and the tips must-apply for experienced, inexperienced and intending investors.

    HAPPY NEW YEAR.

  • Millions gone in Aba market fire

    Goods worth millions of naira have been destroyed in a fire that razed the Yoruba/Lagos Line section of Eziukwu Market in Aba, Abia State.

    An eyewitness, Mr Ijioma Kalu Lekwa, said the fire almost destroyed the herbs and scraps sections of the market.

    He said the fire started around 4pm on Sunday and could not be put out until 2am on Monday.

    According to him, the fire started when most residents were attending social or religious functions and the traders had locked up their shops.

    The resident said the few people around were unable to put out the fire because they did not have sufficient tools.

    Lekwa blamed the security guards at the market for not responding promptly to the fire alert.

    He said: “When we saw the fire, we rushed to alert the market security guards. But they refused to open the gate to enable the people put out the fire. That would have saved some goods.

    “My son and his friends informed the state fire servicemen. But they were told that the fire service did not have water and that their vehicles were bad. So, they said they could not go anywhere.

    “As the fire spread, I laid a pipe from my borehole to supply water to the market, to salvage the situation. Other people were using buckets and other improvised materials to put out the fire as it was getting out of control. Even when our water was exhausted, we switched on our generator to pump more.”

    A trader, who was in pain over his loss, blamed the security guards for not responding promptly when they were alerted.

    He said: “We went to alert the market security guards. But they refused to open the gate to allow people go into the market. We might have saved some people’s goods.

    “I don’t know if they thought we were raising a false alarm. It was when one of them, who was probably returning from a canteen, saw the smoke and what was happening, that he alerted his colleagues. By the time they opened the main gate and allowed people into the market, the situation was already out of hand.”

    The Chairman of Lagos Line Traders Association, Dr Nwaeze Udenwa, said he was attending a wedding ceremony when he was informed about the fire.

    He said the market would have been razed, if not for the few people around.

    Dr Udenwa, who sells roots and spiritual materials, said about 50 shops were razed.

    He hailed the police for protecting the goods recovered from the fire.

    The businessman urged the government and kind-hearted persons to assist the affected traders to return to their businesses.

    Mr Basil Adibe, a timber merchant, said the fire destroyed all his family have laboured for three years after returning from Jos folowing Boko Haram insurgence.

    A scrap dealer, who lost everything to the fire, Mr Aloysius Ukaegbu said: “A few months back, this place was flooded whenever it rained. That affected our business. We were anticipating improved patronage since the rain has stopped. But look at what has happened now! All the goods I had were burnt down. How am I going to start all over again?”