The Nation Newspaper

Tag: potential

  • Women urged to unlock their potential

    Pastor Siju Iluyomade of the City of David (COD), Victoria Island, Lagos, has said the role of women in societal cannot be over-emphasised.

    She spoke at this year’s Handmaidens Women in Leadership Series (WILS) Conference held in Lagos.

    Pastor Iluyomade noted that in line with the vision of WILS in enlightening women and empowering them sufficiently to enable them to have the desired impact on the society, women are uniquely positioned because they are the ones who pass on the meaning of life to her children through the internal wisdom that she conveys to her family.

    Continuing, she said the woman is a source of education, culture, and knowledge, all of which she passes on to her children, and thus to subsequent generations.

    In the circumstances, she urged that women should be put on a pedestal by extolling her place in the family and in the society in general. The new reality will require us to establish new frameworks that support a fundamental role of women that has been eroded over the years.

    She urged women to strive hard in order to realise their potential irrespective of the faith they profess.

    Pastor Iluyomade said: “Being a Christian does not mean women should not be successful in life. They should know that the power to succeed is in their hands, because God has given them everything; all they need to do is to tap into it and become successful.

    The theme of the conference was “Leading Women, Breaking Barriers”.

    Pastor Iluyomade, who is the hostess anchored her talk on “spring into action”, said to the participants, “enough of begging. Get up and get to work”.

    Quoting from the poem of William Ross Wallace she said: “The hand that rocks the cradle is the hand that rules the world”, she said the woman that is leading is a mother, a wife, a working woman, an entrepreneur, a woman who is in service to her nation, a woman who is in service to her people and community, adding that a mother does not necessarily need to be unemployed

    She said: “A leading woman goes with a certain attitude, which is, whatsoever I lay my hands upon must prosper. A leading woman must be determined to break barriers.”

    Pastor Siju, the wife of Pastor Idowu Iluyomade urged the women to tell their husbands “I would have mine, and I would take yours too”.

    She maintained that “a leading woman goes with a certain attitude. Whatsoever you lay your hands upon, must prosper. A leading woman must be determined to break barriers. Being a Christian does not mean you should not be successful. You should know that the power to succeed is in your hands because the Almighty God has given you everything, and all we need to do is to tap into it and stop being lazy.”

    The Bible is clear about the special position of the woman when it said “I’m fearfully and wonderfully made. I can do all things through Christ that strengthens me. I have to account for the talents that God has given me.

    “In Ephesians 3:20 says ‘now unto him that is able to do exceeding abundantly above all that we ask or think, according to the power that worketh in us’”.

    She then asked rhetorically, how can we stimulate our ambitions? Proffering solution, she said: “Women should stop hating fellow women, stop envy, stop jealousy, stop tearing down, and stop plotting evil against other women. Women should begin to love one another as God Almighty commanded, so as to fulfil the purpose and break barriers fully”.

    Pastor Siju added: “Because I practice what I preach, I am an example of a leading woman breaking barriers because as they say, charity begins at home and a leader must lead by example.

    “As a Pastor in full time Ministry, a wife of a Pastor, a mother, a lawyer of many years in practice, an entrepreneur who is in partnership with my husband, I am working hard for my daily bread. The fact remained that we could be paid for Pastoral work and duties but we chose not to be paid to do God’s work because the Church is not meant to be overburdened. We did not eat anyone’s bread without paying for it. I leave you with the words of Apostle Paul in 2 Thessalonians 3:6 – 11 that instructs on the need not to be idle.”

    Pastor Siju urged the women to spring into action and get to work by breaking all barriers.

    At the one-day event eminent female achievers also spoke on various topics.

    Keynote speaker was Mrs Funke Adekoya (SAN) who contested the Presidency of the Nigerian Bar Association (NBA).

    Mrs Adekoya told the women that women who break down barriers are the ones who ignore the limits:

    “Preparation is important, expertise is crucial. Prepare for your plan- what resources do you need? Develop your soft skills. If you want to go fast, go alone, but if you want to go far, go together. Change your request if you have been turned down in one way. You need to establish a network of encouragers. I know that my shared knowledge will support your ability to navigate your own lives,” she said.

    Africa’s first female Admiral, Rear Admiral Itunu Hotonu who was the second keynote speaker told the women to do whatever they can by being intentional about it.

    “Get yourself tutored in your weak areas. There are no free dinners; you must work for success that will be abiding. Ecclesiastical 9:10 says, whatever your hands find to do, do it well’. Women cannot afford to be enemies of other women. Excel in the workplace, house of God and everywhere you find yourself. Dress the way you wish to be addressed,” she said.

    Kate Hensaw; Foluso Gbadamosi; Ola Orekunrin Brown; Yvonne Ike Fasinro; Adenike Oyetunde; Captain Adebanke Olayiwole; and Adefunke Adeyemi were some of the panelists.

  • Saraki: Nigeria has the potential for greatness

    •Condoles with NYSC on death of corps members

    Senate President Bukola Saraki has said Nigeria is a great country with lots of potentials.

    He said times may appear hard, but the leaders are working hard to lay a solid foundation that would enable the youths match with their contemporaries in any part of the world.

    Saraki spoke at the National Youth Service Corps (NYSC) orientation camp at Yikpata, Edu Local Government Area of Kwara State.

    He was was at the camp to condole with the management and corps members on the death of Miss Amadi Eva Ikechukwu, a ‘Batch A’

    corps member.

    Amadi (KW/18A/0135) died on camp last Thursday. She was a graduate of Oil and Gas Engineering from the University of Port Harcourt, Rivers State.

    Saraki said relevant authorities must take responsibility to prevent a recurrence.

    He said: “You are at a very critical point in your life and about to start the journey out there. I know times are hard, the future is not as promising as we hope, but we have a great country that has a lot of potentials, and we are working hard to ensure that we lay a kind of foundation that would enable you people, who have potentials and capacity, to match anybody in any part of the world.

    “Please, stay focused and committed and I promise you that we would do our best to ensure your future is bright.”

     

  • Harnessing Nigeria’s ethanol potential

    SIR: Discussions on why Nigeria should look beyond oil as its major source of revenue are never in short supply. The call for economic diversification remains a topical issue in Nigeria. Concerned Nigerians are of the belief that our single-resource economic structure accounts for why important national goals remain largely unachieved.

    Countries have since realized the need to focus attention on Biofuels or ethanol production as a reliable substitute for gasoline. Debates have been on the need for countries to embrace this largely untapped natural resource whose benefits far outweigh its hazards.

    Biofuels are fuels made from cellulosic biomass resources and they include ethanol, biodiesel and methanol. Biomass processes can be designed to produce solid fuel, liquid fuel, gasses or even electricity. Commercially viable sources of biofuel include some crops, such as sugarcane, sugar beets, cassava etc, also from vegetable oils derived from plant seeds, such as sunflower, linseed and oilseed, as well as animal waste. Development of “Second generation” or “advanced” biofuel using practically any available lingo-cellulosic materials such as trees, stover, crop wastes are also gradually becoming commercially viable.

    Since primary feedstock of these fuels are plants which are subjected to bio-chemical or thermochemical processes, they are also regarded as bio-renewable energy or fuels since the plants could be grown as often as required.

    In meeting the huge current and future energy needs of the world, biofuels are very crucial ingredients for sustainable development and have become a vital and indispensible input to the economic needs of our present civilization. Many countries across the world have realized this and are churning out policies and programmes designed to make them energy self-sufficient. It is therefore worrisome that Nigeria seems to be missing in action, in all of this.

    The Nigerian government had way back in 2005 conceptualised the bio-ethanol development initiative, but little has been done, in terms of providing necessary legal framework to make it work. It is however surprising that, Nigeria, been home to most raw materials needed to produce biofuels hasn’t embraced it long time ago. If that initiative had been pursued, by now, Nigeria would have developed the required capacity and joined other nations exploiting this renewable energy resource to help offset falling revenues from its declining oil output.

    The bitter truth remains that, from all realistic projections, the very oil that has blinded our eyes from seeing other potential won’t last more than 40 years and our gas won’t last more than 60 years. I think this revelation should jolt the nation into immediate action.

    While ethanol is not new in the market, regrettably, its potentials have not been fully explored. In some sub-Saharan African countries, ethanol is brewed locally. But the distillation process is not perfected enough to have a fine spirit. This has encouraged the importation of ethanol. Even then, opportunities still abound to import ethanol and make money distributing it. Embracing or focusing on ethanol production doesn’t imply that we would abandon gasoline.

    There is nothing wrong in Nigeria understudying South Africa in this regards. The ethanol production legal framework designed by the South African government took note of issues relating to local content, job creation for citizens, technical requirements, raw materials, environmental regulations, subsidy as well as other incentives for investors.

    It is obvious that there is need for Nigeria to explore alternative source of energy especially to create jobs for its citizens, strengthen its energy capacity and address Nigeria’s acute power/fuel energy supply deficit.

     

    • Latif D. Busari

    Garki 2, Abuja.

  • Lekki Free zone and Lagos’ economic potential

    SIR: Lagos remains the economic and commercial hub of Nigeria and, indeed, the entire West-African sub-region. It generates 26.7% significant portion of the nation’s Gross Domestic Product, besides over 50% of non-oil sector to her credit. Most of these come from taxes, levies, dues and rates paid on commercial transactions that daily take place in the Central Business District of Lagos Island. More importantly, most of the country’s corporate business headquarters, multinational companies and investment organizations are located in Lagos.

    The demands of the increasing population that migrate from other parts of the country have a compelling influence on the development of infrastructures and social amenities in the area of housing, hospitality, transportation. All these are investment opportunities which have expanded the scope entrepreneurship in the commercial nerve centre, called Lagos.

    Over the years, Lagos state has been blessed with visionary leaders who have committed themselves to exploring to the maximum the economic and commercial potentials of the state. On a daily basis diverse people from different parts of the world come into Lagos to explore her numerous economic and commercial potentials. This has paved way for progressive increase in the Internally Generated Revenue, IGR, of the state as well as in her ability to meet critical financial obligations. Today, Lagos targets to hit N50billion as IGR by the end of the current year.

    In a bid to further enhance the economic fortunes of the state and expand the frontiers of the ever growing mega city, Lekki Free Trade Zone, LFTZ, was conceived in partnership with China-Africa Lekki Investment Company.  An initiative of Asiwaju Bola Ahmed Tinubu, former governor of Lagos State, the Zone sits on over 3000 hectares of land along the coastal corridor. The blueprint, over the years, has manifested into physical infrastructural development along the Lekki corridor.

    Towards the full realization of the Lekki Free Trade Zone initiative, the Ambode administration has committed over N2billion in partnership with the Dangote group as a major stakeholder in the construction of a deep sea port that is valued at about N4billion in the zone. The idea is to turn the Lekki corridor into a thriving industrial, commercial and economic hub. As a one stop business community with its full complements, the zone is being equipped with capacity to generate its own electricity. The construction of over 36 kilometres inner roads have been completed for the benefits of subscribers. Meanwhile, proper security arrangement has been put in place to ensure that lives and properties are well secured in the zone. A police station has been completed in this regards.

    Presently, over116 investors have registered with Lekki free Trade Zone, out of which 16 have commenced full operations while another 100 have signified their intention to register and situate their business within the zone. Against bureaucratic delay of involved in clearing goods/raw materials, with its attendant cost implications at the nation’s ports of entry, investors who operate at the zone are exempted from paying import duties on raw materials imported for production/ excise duties for final products if not sold to local market. As part of method of operation, duties will only be paid only on products that are sold into local market.

    As against the over dependence of many states in the country on federal allocation as major source of revenue, Lagos is practically extending her frontiers of wealth creation by providing basic infrastructures, capable of driving Lekki Free Trade Zone to generate further wealth for the state and, indeed, the country as a whole. Without a doubt, by the time current efforts of the state government and her partners to transform the Lekki Free Zone into a huge economically thriving focal point, the state and its residents would be the better for it.

     

    • Bolaji Odumade,

    Lagos State Ministry of Information & Strategy, Alausa, Ikeja.

  • ‘PPP, education will unlock Nigeria’s potential’

    For Nigeria to compete in the 21st Century global economy there is the need for advanced skills development strategies and policies that are strong enough to adjust to changes in the economic landscape and the associated demands for skills.

    There is also the need for public-private partnership to enhance the quality of education and ensure that education system- from traditional structures, to vocational and new approaches, are producing the necessary skills for the country’s current needs while anticipating its skills needs in the future.

    These are key highlights of a new report by General Electric (GE) Nigeria titled: “The Future of Work in Nigeria; Bridging the Skills Gap: The Key to Unlocking Nigeria’s Inherent Potential.”

    The report highlighted skills requirements in critical sectors of the economy and formed part of GE’s global ‘The Future of Work’ series to highlight the need for investment in sustainable skills development. It recommended holistic private-public partnership to address the skills gaps and underscore the links between relevant skills set and industrialisation.

    GE commissioned a survey of four key industries namely: oil & gas, transportation, healthcare and power for insight from their key leaders, including Chief Executive Officers (CEOs), Human Resources (HR) and operations directors on the impact of skills shortage on businesses, as well as the ways to them.

    President and CEO of GE Nigeria, Mr. Lazarus Angbazo, said the GE was committed to building a world that works better. “We are committed to building skills to meet critical needs and fill skills gaps domestically and globally,” he said.

    He said the aim was to achieve success by building collaboration, increasing employability, and engaging the public sector and business community. “We understand that there is no one-size-fits-all approach to skills development. Indeed, it varies across countries and sectors,” he said.

    Angbazo, however, said what is constant is the need for both the public and private sector to come together to ensure that the education system- from traditional structures, to vocational and new approaches are producing the necessary skills for the country’s current needs while anticipating its skills needs in the future.

  • Maximisng dairy farmers’potential

    Maximisng dairy farmers’potential

    Nigeria’s demand for milk is estimated at 1.1 billion litres yearly. Her milk production capacity stands at 400 million litres yearly, leaving a supply gap of 700 million litres. But, a Dairy Development Programme to bridge the gap and empower local dairy farmers has begun. It is being promoted by FrieslandCampina WAMCO Plc to develop the dairy value chain. Assistant Editor CHIKODI OKEREOCHA reports that the initiative is a shot in the arm of the government’s backward integration policy aimed at building capacity in manufacturing to reduce imports, create jobs and drive industrialisation.

    These are exciting times for dairy farmers. Courtesy of the Farmer2Farmer Pro-gramme of FrieslandCampina WAMCO Plc, makers of Peak and Three Crowns milk, their fortunes have improved.

    For instance, from a maximum of two litres per cow daily, farmers’ milk production  has increased to between 10 and 12 litres per cow daily, resulting in a boost to their income.

    The Farmer2Farmer Programme is an important component of FrieslandCampina WAMCO’s Dairy Development Programme. It is a unique engagement where certified dairy farmers from The Netherlands train and advise their Nigerian counterparts on best dairy farming methods.

    Under the initiative, launched last month at the company’s host communities in Oyo State, the Dutch farmers engaged local pastoralists on dairy farming practices, such as  animal health and welfare, farm record keeping, feeding and watering, calf-rearing, milking hygiene, cow fertility, hoof care, housing and barn design.

    The goal of the programme, according to FrieslandCampina WAMCO Corporate Affairs Director Ore Famurewa is “to improve milk quality and increase milk production on dairy farms”.

    She said the programme was contributing to higher incomes for farmers and better living standards for their families as well as safeguarding local food security in the markets.

    One of the dairy farmers and   owner of Genius Integrated Farms, Iseyin, Oyo State, Mr. Moyosore Olatunde Rafiu, confirmed that farmers’ yield has improved tremendously on the strength of the programme. He said the programme ensured the transfer of technical skills to them by Dutch dairy farmers, particularly in cross breeding of Fulani cows.

    Other best global dairy farming practices that helped boost capacity, he said, included artificial insemination, animal health and nutrition, vaccines, forage production and state-of-the-art veterinary equipment.

    The programme is a private-public-partnership (PPP) initiative aimed at developing the dairy industry by creating a sustainable raw milk value chain that contributes to food security through provision of quality dairy nutrition to Nigerians as well as providing jobs.

    Famurewa said the idea was to make the dairy sector more attractive for youths.

    The Farmer2Farmer initiative was integrated with the Dairy Farmers’ Day, created and hosted by FrieslandCampina WAMCO. The first edition held in Iseyin last week. It was aimed at highlighting the importance of dairy farming in the provision of food and employment for rural farmers.

    The event celebrated dairy farmers from the five local government areas where FrieslandCampina WAMCO’s dairy development programme is  being implemented in Oyo State.

    Friesland-Campina WAMCO Managing Director Mr. Ben Langat said: “As a company, we will continue to lead in steering economic solutions in the dairy sector and to play a key role in the ongoing efforts to improve and maximise the potential of dairy farming in Nigeria.”

    He said the event was to celebrate all the dairy farmers across the communities in Oyo where the DPP is being implemented, adding that it also facilitates knowledge exchange and experiential learning between local dairy farmers and dairy experts from within and outside Nigeria.

    Langat noted that the dairy sector faced a number of challenges particularly the nomadic nature of the pastoralists who are mainly the cattle owners, coupled with lack of good quality grazing reserves and pastures, which result in poor nutrition for lactating cows and poor productivity of indigenous cattle breeds.

    He also identified the unorthodox fresh milk collection, processing and marketing channels; lack of infrastructure (access roads, potable water, electricity, and modern dairy farming technologies) and absence of enabling policies regarding dairy farming as other factors that contribute to the current undesirable state of the dairy sector.

    Langat, however, said despite the challenges, private firms and individuals, in some cases, in collaboration with state and federal governments, are making efforts to ensure improvement in the dairy sector. Some of the interventions, according to him, are focused on strengthening of milk marketing, collection and payment by private firms.

    Others, he said, are focused on improving extension and productivity services, animal health and cross breeding schemes, aggregation of farmers for easier access to credit facilities and markets as well as facilitation of inputs and infrastructure in dairy zones, among others.

    Encouraged by such efforts and interventions, Langat believes that the future of dairy farming is promising. “We would like to look to the future and envision what dairy farming should look like in about a decade (2030 to be precise).

    “We expect a total turn around and 100 per cent improvement of the policy and enabling environment; research and development; economic empowerment; infrastructure; nutrition and food security; operations and farming practices,” he said.

    Langat projected that by 2030, there will be access to finance and credit facilities, access to land for grazing, pasture, feed et al; improved reviewed policies, clear regulations on land ownership in different parts of the country; improved research in animal health and nutrition as well as technologies for enhancing dairy farming.

    He also said there will be more smallholder farmers with well-established ranches; improved availability of modern farming methods and equipment; availability of variety of dairy products, markets for the milk products from farmers organised dairy clusters and cooperatives, well established dairy communities with well developed facilities- schools, hospitals; access roads across dairy zones, potable water, regular electricity; improved yield of milk in litres  per cow per day, and 100 per cent local sourcing of milk.

    The output of milk per cow daily in Nigeria is low, compared to other African countries, such as Kenya and Uganda, with between 30 and 40 litres of milk per cow daily. This, according to experts, is because Nigeria’s dairy sector is still largely characterised by cattle ownership belonging to Fulani pastoralists who are nomadic.

    The pastoralists go for days on long distances to graze their cattle and look for pasture and water for them. This affects the quality and quantity of their milk.

    Available statistics put the yearly demand of milk in Nigeria at 1.1 billion litres. The estimated yearly production is 400 million litres, leaving annual demand/supply gap of 700 million litres. This is clearly an opportunity for FrieslandCampina WAMCO and, indeed, other dairy companies as well as Nigerian dairy farmers to benefit as they bridge this sizeable gap.

    For now, FrieslandCampina WAMCO is the only dairy manufacturer sourcing part of its raw milk locally through the programme. Interestingly, the scheme bodes well with the Federal Government’s backward integration policy that encourages building capacity in local manufacturing to significantly reduce imports and create jobs.

    Under the programme’s sustainable raw milk value chain, Fulani herdsmen constitute the first leg of the empowerment scheme under which they are trained to ensure they get the best quality milk. The herdsmen are supported through consistent trainings and demonstrations to upgrade their milk supply in terms of quantity and, more importantly, quality.

    They are also trained in the use of crop residues and fortification as sources of good feed to cattle. Also, feed preservation through silage and hay making are demonstrated, while crossbreeding through artificial insemination was carried out.

    One of the Dutch famers, Mr. Gerben Smeenk, confirmed that the farmers, during the training, demonstrated high level of enthusiasm in learning new, improved farming methods. 

    The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, lauded the company’s efforts in creating and hosting the first Dairy Farmers’ Day.

    Noting that the initiative has taken a firm root in the state and is spreading to other parts of the country, Ogbeh reiterated the Federal Government’s commitment to the success of the programme .

    From the Ambassador of The Netherlands to Nigeria, Mr. Robert Petri,  also came assurances that the country would strengthen its partnership with the government in agriculture.

    “Agric is a priority for the government and dairy farming is part of it,” he said.

    Since its inception in 2011, the programme has spanned across five LGAs of Iseyin, Ibarapa, Saki West, Atiba and Itesiwaju in the state in collaboration with Federal Ministry of Agriculture and the government.

    Specifically, the focus of implementation has been on identification of dairy value chain actors in the state; sensitisation, registration and organisation of potential dairy farmers; training of farmers and extension workers; milk collection, testing and quality control; crossbreeding; tsetse eradication programmes; improved and hybrid pasture cultivation demonstrations for farmers.

    According to the Dairy Development Project Manager, Mr. John Olayiwola, over 1,800 farmers, including men and women, are engaged in the programme. He said through the programme, FrieslandCampina WAMCO introduced the local farmers to the use of banks and other modern payment channels.

    The Nation also learnt that the introduction of the Dutch Grass-to-Glass approach, which encourages inside grazing, may have also assisted government in addressing the grazing challenge. The company has been able to reduce the menace of Fulani herdsmen, at least, in the state.

  • ‘Christian teenagers must be bold to maximise potential’

    Wife of the Pastor-in-Charge of The Redeemed Christian Church of God (RCCG) Province 59, Pastor Funke AyinOluwa, has appealed to Christian teenagers to maximise their potentials by following through their dreams.

    She spoke last week at a five-day leadership course for teenagers by the province.

    AyinOluwa, who is the convener, said the course was designed to    to inspire young people to be bold, follow their dreams and maximize their future opportunities.

    She urged the teenagers to confidently set goals, take actions and achieve their life-long dreams with passion and enthusiasm.

    According to her: “Many times, our children have the problem of low esteem and we need to address this.

    ‘’On the part of our children we want them to see themselves the way God sees them.

    ‘’We are created to dominate, reign over every creature and every situation. Jesus has concluded the work on the cross.”

    Speaking further, she said: “For the church, we want to get them engaged as well as giving them better alternative than leaving them idle.

    ‘’We want them to be focused and giving them a better option as well as give them worthy role models to look up to”.

    The guest speaker, Pastor (Mrs.) Tinu Odugbemi of Lagos Province 64, warned participants that a relationship based on lust can be devastating.

    She called on them to draw closer to God in reading the word as well as being prayerful.

  • ‘SIIFZ represents Nigeria’s potential’

    ‘SIIFZ represents Nigeria’s potential’

    The operations of leading indigenous energy services provider, Nigerdock, and the Snake Island Integrated Free Zone (SIIFZ) have been described as a evidence of Nigeria’s great prospects and impact on Africa.

    General Manager of Nigerian Petroleum Exchange (NipeX) Mr. Kanayo Odoe spoke during his visit to SIIFZ, the location of Nigerdock’s world class facility.

    Odoe noted that Nigerdock and its activities on SIIFZ represent the prospects of Nigeria across Africa.

    He said: “Snake Island is a manifestation of all that is good in this great country Nigeria.  It is my earnest hope on behalf of the people of this great nation that all the support we can muster to make the organisation great will be given to your good organisation. Be reassured of our highest support and commitment in bolstering your organisation for the overall benefit of Nigeria. Keep up the good work.”

    He was conducted on a tour of the facility by Group Corporate Affairs Director, Joy Okebalama; Nigerian Content Manager, Nigerdock, Ifeanyi Chime; Senior Project Manager, Nigerdock, Temitope Odulate, among others.

    The tour covered Nigerdock’s diverse business operations, such as logistics base infrastructure (Quaysides, marshalling yard, water and MGO storage, laydown areas, warehouses, accommodation, ship repair and maintenance facilities and offshore fabrication facilities.

  • Saraki: Nigeria needs technocrats to achieve potential

    Saraki: Nigeria needs technocrats to achieve potential

    Senate President Bukola Saraki yesterday said Nigeria cannot achieve its full potential if government does not engage technocrats in driving the development process.

    According to him, there is a “mismatch” between what politicians can offer and what skilled experts can bring to governance.

    Both, he said, must work together.

    The Senate President spoke in Lagos when he declared open the 11th Annual Business Law Conference of the Nigerian Bar Association Section on Business Law (NBA-SBL), with the theme: “Law and the changing face of legal practice.”

    Saraki said it behooves the private sector to push the government to create an enabling environment for businesses to thrive.

    “I believe there is a misconception by the private sector. We all believe that the responsibility is for those of us in government. That is true. But I believe that you can drive your government. You can make your government do what is necessary to create the right business environment.

    “This is a great country with great potential. But the reason why we’ll never achieve our potential is that there is a mismatch. This mismatch is that the caliber and capacity of those in government cannot match those in the private sector,” he said.

    Apart from the private sector’s input in governance, Saraki said government alone cannot fund infrastructure deficit even if it has to borrow.

    The Senate president listed several laws that have been passed to boost the economy, adding that the Senate would soon amend the Constitution.

    “We hope to finalise the Constitution review. This is an area the budget has been holding us back. Now that the budget has been passed, our main priority when we resume is constitutional review. The report is ready,” he said.

    Lagos State governor Akinwumi Ambode, represented by the Attorney-General Adeniji Kazeem, urged lawyers to help develop laws that will enhance the ease of doing business.

    “Legal practice must support legislation that will support law and order and improve ease of doing business,” he said.

     

  • Deepening potential in mining

    Nigeria has the capacity to generate at least N5 trillion yearly from the mining sector and export of its vast solid mineral deposits. Stanbic IBTC Bank is focusing on how to deepen the sector, which creates jobs and social infrastructure needed for national development, writes COLLINS NWEZE.

    Mining remains one of the most promising sectors of the economy with the potential to generate over N5 trillion yearly for government, especially from exporting its solid mineral deposits.

    Banks with foresight and passion to improve the lots of the economy are targeting the huge funding potential in the mining sector and helping government realise its economy diversification plans. The Stanbic IBTC Bank Iron and Steel Business Session was organised by the lender to jumpstart sustained interface between the private sector and government with a view to developing a robust mining sector through the public private partnership model.

    This has become necessary because the economic downturn, triggered by falling global oil prices, is yet another eye-opener for Nigeria to re-examine its economic bearing. It is an opportunity to shift from a mono-economy and lay a foundation that promotes sustainable growth and development.

    One route that has consistently resonated at various fora is diversification, with agriculture as its pivot. Agriculture represents an opportunity sector, with huge economic potential and remains largely untapped.

    Nigeria earns over 80 per cent of her revenue from the petroleum industry, according to several reports, but the sector actually accounts for less than 14 per cent of the Gross Domestic Product (GDP), whereas agriculture commands about 22 per cent of GDP and generates two-thirds of employment nationwide.

    About 90 per cent of Nigeria’s food requirement is produced by small-scale farmers, who ironically, constitute the majority of the nation’s poor.

    A myriad of factors have been blamed for this miserly condition, both natural and man-made. Key is the lack of access to finance and the resultant inability to invest in basic farming inputs, such as seedlings, fertilisers, implements, irrigation as well as poor access to finance. These have led to low  yields and unmet economic expectations and aspirations.

    Expectedly, Nigeria’s vast natural resources and huge consumer market will drive strong growth and attract investments to other critical sectors of the economy, including energy, mining and solid minerals, infrastructure and tourism.

    Chief Executive, Stanbic IBTC Holdings Plc, Sola David-Borha said the event was to boost the economic diversification agenda of the current administration and create a win-win situation for all stakeholders.

    “The Stanbic IBTC Iron and Steel Business conference was conceived to tap into the economic diversification drive of government by bringing together stakeholders from both the public and private sectors to share deep insights into the opportunities in the solid minerals sector, which has the potential to rival the petroleum sector in revenue generation,” David-Borha, said, adding: “As a developmental partner, Stanbic IBTC will continue to take the lead in identifying opportunities that could be tapped into for growth through public private partnerships.”

    For the Minister for Solid Minerals Development, Dr Kayode Fayemi, solid minerals industry is the country’s next opportunity for development. This is backed by the Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP). At the recent executive business session organised by Stanbic IBTC, tagged: Iron and Steel in Nigeria…Prospects, Partnerships and Progression, he reiterated the Federal Government’s plan to drive industrialisation with industrial mineral endowment.

    With natural resource portfolio of at least 44 known mineral assets that include precious minerals, base metals, bulk minerals and rare earth minerals, Fayemi identified the country’s most promising mineral assets to include gold, iron ore, barite, bitumen, lead, zinc, tin and coal.

    “We believe the available data of our reserves understate what our country is endowed with. For one thing, some of the geosciences data collected 50 years ago or earlier, have not been updated. So, we are cautiously optimistic that our mineral endowments actually exceed what is currently stated,” he said.

    The solid minerals sector has been operating below capacity, with many mining operations manned by small scale artisanal miners, as opposed to the large scale actors. The Minister said Nigeria can generate at least N5 trillion annually from mining and exporting of its vast solid mineral deposits, with several multiplier effects on job creation, state  development and social infrastructure that could position the solid minerals sector as the main catalyst for national development.

    Also, solid minerals account for about nine per cent of South Africa’s GDP, while mineral revenues are projected to account for 34.4 per cent of Botswana’s total revenue in 2015/2016, and about 30 per cent of GDP, Fayemi noted.

    Head of Mining at Standard Bank, Anders Alfredson, listed import substitution opportunity, potential to develop  domestic iron   ore and other steel raw material resources, and abundance of attractively-priced energy sources available locally, among others as reasons to invest in the mining sector.

    Future demand growth, he said, has created opportunity to develop the domestic industry, with support from Standard Bank’s strong mining franchise, which would through Stanbic IBTC, partner local players to develop and deploy its global network to attract investment into the country.

    “Standard Bank, through Stanbic IBTC, is open to work with its existing in-country client base on potential opportunities to develop an integrated iron ore to steel player. Standard Bank would be able to leverage its global network to identify potential candidates for strategic investment into Nigeria,” Alfredson said.

    Besides, in Nigeria, the public sector has historically designed, funded, and executed development projects. But these projects, characterised by inefficiencies, have consistently failed to deliver optimum benefits, leading to severe drawbacks for business and the economy.

    The result is stagnant economic growth and grinding poverty among Nigerians. However, with the gradual diversification of the economy, which the private sector is expected to drive, opportunities would be created and if taken, would subsequently accelerate economic recovery and growth.

    With supportive regulatory framework, private sector participation is expected, in the same manner that it has transformed telecoms, petroleum products’ distribution, and financial services, among others, to help unlock Nigeria’s largely untapped solid minerals industry.

    It is in this regard that Nigerian banks, just as Stanbic IBTC Bank has indicated, should demonstrate their capacity to finance major development initiatives that have the potential to engender rapid economic transformation.