The Nation Newspaper

Tag: potentials

  • Monarch urges exploration, development of local potentials 

    The Edigbon of Edemosi, Oba Adeniyi Olaniyan, has called on governments and private investors to access available resources in communities for the growth and  development of the economy.

    The monarch said it was lamentable that the nation was still grappling with infrastructural and financial deficits despite the abundant wealth deposit in the land.

    Olaniyan said resources and potentials were untapped or underutilised.

    He said: “For instance, Edemosi my domain under Ila Local Government Area of Osun State has vast expanse of land for planting both upland and lowland rice. Presently, farmers from Kano and Taraba states come to my domain to cultivate hundreds of hectares of land and move it up north immediately after harvesting for processing.”

    He went on:  “We have a situation in which vast expanse of land that is suitable for rice cultivation in the community is still left fallow while the country ironically depends on importation of rice. This kind of situation is wrong and we should make efforts to discourage such.

    “Government and private  companies can support the local farmers by giving them implements, improved seedlings and chemical to boost rice production while rice processing plant can also be set up here.

    “In proper context, the intervention Ministry of Agriculture, either at the state or federal level, in assessing and cultivating the land in our locality can go a long way in improving local rice production especially in view of government’s stance against smuggling of foreign rice into the country.

    “In addition, involvement of Ministry of Agriculture in the cultivation of the staple food can attract private investors that could in turn engage in processing of the rice when harvested and this will have multiplier effect creating job for the youths in the immediate environment.”

  • Harnessing EU, AU Summit partnership potentials

    The 5th European Union and African Union Summit slated for November 29- 30, is underway in Abidjan, Cote D’Ivoire. Africa’s and Europeans’ heads of states and governments are expected with leaders of the continents’ institutions and organizations.

    This year’s summit has a very interesting central theme – ‘Investing in the Youth for a Sustainable Future’. The triennial meeting which was last held in Brussels, Belgium in 2014 is expected to reach key decisions that would provide political guidance towards effective strategic and development partnership that is expected to address future socio-economic challenges.

    The focus on youth is both apt and pertinent, considering that more than 60 percent population of Africa is made up of youth.  Unfortunately, they lack guidance and lose faith in the leadership of their respective countries. The apparent despondency of the average African youth can be understood as their countries do not have any social security programme for them.

    Poor education policy and ineffective planning coupled with deficit funding over the years have become a bane in socio-economic advancement of the continent. World Bank in its 2015 report revealed that half of the youth in sub-Saharan Africa are out of schools. This number makes the region to have the highest rate of exclusion. According to UNESCO Institute for Statistics and the Global Education Monitoring (GEM), poverty and armed conflict contribute significantly to the low youth enrolment in schools.

    There is no doubt that Africa tends to have much younger population than her European counterpart. This should be seen as potential economic opportunity that if well harnessed can be mutually beneficial to both continents. Unfortunately, this youthful population accounts for the surge in illegal migration into Europe, a crisis situation that is not likely to cease soon. These youth are fleeing from a distressed economic situation and war; they are in search for greener pastures abroad. African leaders should be blamed for neglecting the critical mass of their youth.

    The proposed marshal plan for Africa by European leaders should be revisited in this summit. This development package was conceived to create jobs at home countries to dissuade those intending to flee their countries. But in rather resorting to engaging brutal forces to deal with these migrants, they have unwittingly supported human right abuse.

    French president, Emmanuel Macron’s plan to set up what he calls Hot Spots in Chad and Niger where refugees could apply for asylum instead of risking their lives trying to cross the Mediterranean, is seen as a welcome development. However, as brilliant as this may sound, the host countries believe it would create confusion that may not be easily controlled.

    In addressing this intractable migrant crisis, Judith Sunderland, associate director for Europe and Central Asia division at Human Rights Watch offers a solution that Europe should grant humanitarian visas to the refugees.

    Expectedly, developments on the Joint Africa-EU Strategy (JAES) which was launched 10 years ago in Lisbon, Portugal would also feature prominently in the Summit. The purpose for this programme was to move the partnership between these continents beyond donor/recipient basis and to maintain a sustainable cooperation based on mutually complementary interest.

    So far, this partnership has delivered tangible results in key areas especially at both political and operational levels. Visible efforts have also been observed in management and resolution of conflicts through Africa-led International mission in Central African Republic in 2013. African Union Mission in Somalia and Africa-led International Support Mission to Mali. These and many other interventions received funding and support from EU.

    Also, the EU and AU cooperation on election monitoring has helped to consolidate democratic cultures and structures. African democracies, elections, rule of law and good governance have also been deepened. Trade, regional integration and investment have equally received a boost under this partnership.

    However, the recent revelation that most light weapons illegally flooding Nigeria come from Turkey, should be of concern to Nigerians participating in the summit. The disclosure by Minister for Information, Lai Mohammed, a couple of months ago that France provided a base for financial transaction that funded the proscribed IPOB activities in Nigeria should equally be of concern.

    It is not in doubt that Africa has a longer political and economic relationship with Europe than other continents. Therefore, this partnership holds the much needed hope for the continent’s economic emancipation and technological advancement.

     

    • Itaobong Etim,

    Calabar.

  • ‘WAPI summit to unlock market potentials’- Broll

    A commercial property services company, Broll Nigeria and a subsidiary of Broll Property Group, has emerged as the Platinum Sponsor of the third annual West Africa Property Investment (WAPI) Summit 2017. The summit, which is making its debut in Nigeria,  will hold on November 28 – 29, at Eko Hotel and Suites, Victoria Island in Lagos. It has as its theme: “Changing the West African Narrative”. The two previous editions had held in Ghana, with Broll as the Platinum Sponsor.

    The conference, billed to attract delegates from across the sub-Saharan region, will see participants discuss and share insights on the challenges facing investors and stakeholders in the region. Topics such as unlocking capital markets; growth in the  retail segment of the market, especially with the increased development of new shopping centres; student housing; as well as property and land valuations, among others, will be deliberated upon.

    Broll’s Chief Executive Officer, Mr. Bolaji Edu, revealed that the property markets in West Africa keep expanding and investors see opportunities in what is by global standard, still an immature and emerging market. This, he further explained, is why conferences such as this will make it possible for topical and relevant issues to be discussed, which will ultimately lead to improving the transparency, professionalism and knowledge base of investors, developers and occupiers.

    The summit, according to him, provides a platform for industry experts, property professionals and leaders of thought to discuss key issues relating to real estate investments in West Africa.

    “The economic improvement and stability in the forex market has brought improved confidence from corporates looking to take up new space and investors/developers. There is confidence that the recent fall in rental levels may have begun to bottom-out,”Edu said.

    Speakers at the summit  include Edu, Broll Head of Retail Management and Retail Leasing, Gavin Cox, and Broll’s Head of Occupier Services, Nnenna Alintah.

    According to Alintah, “corporate real estate services strategy is key to any property investment business and it requires paying attention to every detail before decisions are made. “We are currently working on an occupier service snapshot report on West Africa and this will be launched and discussed at the summit,”she said.

    In a similar vein, Cox added: “One of the issues we intend to highlight at the summit is the investors’ choice of either high street or shopping centre retail. Some experts believe that high street retail has more visibility when compared to being located within a mall.”

    Cox further noted that the retail sector in the country is facing tough times, as a result, international retailers interested in entering the Nigerian market have  since adopted a ‘wait and see’ approach in the light of the prevailing market conditions. “In addition to understanding the long-term growth potential of the retail sector, Nigeria is also seen as a much easier market to expand into compared to other western markets,” he said.

  • ‘How to realise natural gas potentials’

    ‘How to realise natural gas potentials’

    •Sector has $55b investment opportunities

    To fully tap the potentials of natural gas resource in the country, the President of Nigerian Gas Association (NGA) and Chief Executive Officer, Oando Gas & Power, Bolaji Osunsanya, said the government needs to promote investment in the sector, tackle disruptions of gas supply and partner the private sector.

    Osunsanya stated this, while addressing reporters in Lagos.

    He said the sector is being grossly under-exploited, noting that the  body has held separate sessions with the Senate and House Committees on Gas to present its view on gas policy framework required to spur sector diversification, power generation and subsequent economic growth.

    He said for a sector with over $55 billion worth of investment opportunities, the Association is extremely positive of growth in the economy and the potentials for growth in key areas such as exploration and production, processing, supply and distribution.

    Turning natural gas into a profit-making venture requires huge investments in infrastructure that address the five component areas of gas availability, affordability, deliverability, funding and legal and regulatory framework. Government and operators alike recognize that the first step is to provide a legal and regulatory framework that will enable the removal of persistent obstacles. To this end, we have scheduled a follow-up roundtable with the National Assembly later in the year, he added.

    Osunsanya said: “The demand for gas in Nigeria is estimated at about 6.6 billion standard cubic feet per day (bscf/d). This number includes about 3bscf/d for domestic utilisation (gas-to-power, industrial and commercial consumers), and about 3.6bscf/d for export to international markets via Liquefied Natural Gas (LNG) and to the West African region via the West African Gas Pipeline.  Total supply into the market has been about 4.3bscf/d with most of this going to meet the export demand, particularly LNG.  This has meant that the domestic market only receives about 1.3bscf/d leaving a supply gap of 1.7bscf/d.  This supply situation has been further worsened by the supply disruptions caused by the recurring acts of sabotage on the gas pipeline infrastructure.

    “The continued government focus on gas is generating a lot of excitement and creates a unique opportunity to capitalize on the gas monetization agenda to propel the economic growth of the country. Prior to the recent reduction in gas supply, we were making steady progress, as the private sector was implementing workable solutions to counter the gas supply imbalance. Unfortunately, due to lower gas supply, marketers have been forced to adopt a more pragmatic approach by rationing the available supply.  This has had a direct effect on Industrial users who have had to scale back production and endure low capacity utilization.  In addition, the limited supply has affected power generation leading to a severe curtailment of power supply to the national grid.  This has led to increased use of more expensive alternative fuels by manufacturing industries across the country, which in many cases has resulted in downsizing to reduce overheads. Now, we require an industry-wide concerted effort to address the lingering challenges.

    “Pragmatic pricing, the ingenuity of indigenous firms to ramp up supply from varied sources to provide assurance of reliability will quickly position gas as the long term solution to our energy concerns.”

  • UAE VP lauds Nigeria’s potentials

    The Vice President of the United Arab Emirates, Sheikh Mohammed bin Rashid Al Maktoum, has described Nigeria as the business hub of Africa and a potential world super-power.

    He spoke during a meeting with the CEO of Sujimoto Construction Ltd, Sijibomi Ogundele in Dubai.

    Mr. Ogundele’s visit was strategically designed to explore investments opportunities and exchange between Nigerian luxury real estate brand Sujimoto Construction and top Emirati investors and architectural firms.

    Shiekh Al Maktoum said “Dubai is great, but Nigeria’s potential is beyond our imagination. Nigeria would be one of the greatest countries not only in Africa but also in the world”

    Ogundele, whose construction outfit is at the forefront of redefining and delivering high-value residential structures in Nigeria and major international cities likened Dubai to a ‘grass to grace’ kind of story, where from nothing it has become something remarkable and outstanding. “Dubai is a city that has experienced transformation from the land of desserts and camels, into the city of towers and marbles. How could one not believe in the power of possibility?” he added.

    After listening to the young entrepreneur’s dream for ‘LorenzoBySujimoto’ and learning that Dubai is the inspiration fuelling his desire to transform the Nigerian Real Estate sector, the Sheikh commented saying, “Your dreams are too small, double it, after you achieve it, contact us”.

    Sharing his vision for his country since he assumed leadership of the UAE in 2006 he said, “Failure is never an option. Dubai can never afford to settle for less. The fear of failure is my number one motivating factor. I wake up each day reminding myself that I would do everything to show the world that the UAE and Dubai in particular would never become followers but leaders in all sectors of leadership.”

    Sijibomi Ogundele concluded that with the right investments and infrastructural developments, Nigeria’s economy will develop rapidly and our construction industries will be able to match what obtains in many advanced countries.

     

  • Jani: Kwara has potentials for greatness

    Jani: Kwara has potentials for greatness

    Prominent businessman and Kwara State Peoples Democratic Party (PDP) governorship aspirant Alhaji Ibrahim Jani has said the state has potentials for greatness, if its resources are propertly managed by competent administrators.

    The 55 year-old politician said that he joined the race to offer quality service and reposition the state for excellence.

    Jani, the Chairman of Lubcon Group, is reputed for his philanthrophy. He is also an employer of labour.

    He said: “As a businesman, I am dedicated to the revatalisation of the economy of this state. I have what it takes to take Kwara to greater heights.”

    The aspirant added: “I have been pursuing excellence since when I was young. I attended Kings College, Lagos and graduated with distinction. After my A’Levels in the school, I proceeded to the United Kingdom to study Mechanical Engineering on a British Petroleum scholarship and I graduated with First Class Honours.

    “At King’s College, I distinguished myself as one a star, carting away more laurels at graduation. The effort fetched me a scholarship from the British Petroleum (BP) to read Mechanical Engineering at Greenwich University, London.”

    Jani described himself as an experienced administrator, adding that the state will benefit from his rich experience and acumen, if elected as the governor.

    He stressed: “I started my working career with the BP London before returning to Nigeria to work with African Petroleum Plc. I worked with Unipetrol Nig Plc (now Oando Plc). At Unipetrol Nigeria Plc, I rose to the position of the Chief Executive Officer of Stallion Property and Development Company (a joint venture between Unipetrol and NNPC). In 1997, I was appointed the Managing Director and Chief Executive of Nigeria Airways. In  1999, I returned to private business.”

  • ‘I’ll reposition Lagos to realise its potentials’

    ‘I’ll reposition Lagos to realise its potentials’

    Akintoye Branco-Rhodes is a Peoples Democratic Party (PDP) aspirant in Lagos. In this interview with Deputy Political Editor RAYMOND MORDI, he speaks on his mission in politics and chances at the primaries. 

    Why do you want to serve as the governor?

    I am trying to free Lagos to release its potential and to reposition Lagos for its very great potentials in Nigeria and the West African sub-region. This is the reason why I’ve come forward to bring out the best of Lagos and Lagosians.

    If you are given the opportunity, what would you do differently from what Governor Fashola has been doing?

    The credentials that I have is that I am an energy expert and I know that Lagos State requires electricity for transformation; it requires patriotic service to the people. Lagos State requires clarity of vision and purpose. These are the things I would be bringing on the table.

    Why are you running under the platform of the Peoples Democratic Party (PDP)?

    Even the best has to give way for others to push the frontiers forward. The APC has overstayed its welcome in Lagos. They’ve been here in the last 16 years and as you know, absolute power corrupts absolutely.  By their total dominance of the space for the 16 years, they have become anti-people in the kind of policies they’ve been implementing. That is why I feel very strongly that the PDP holds the potentials to dislodge the APC and reposition Lagos for the next phase of development.

    What are some of the anti-people policies you are talking about?

    Everybody that lives in Lagos is under one oppressive law or the other. One, multiple taxation; two, multiple levies; three, they’ve turned all agencies of government into revenue generators. It’s not bad, if they are just mere revenue generators, but they go to the extreme of taking this revenue from the people and that has left a sour taste in the mouth of the people. It is that yearning for freedom that I am bringing to the table.

    Lagos is not an oil-producing state yet and it derives much of its revenue from taxation. If you become governor and you do away with taxation, how would you get the money to run the state?

    Our plans are to enlarge the economy. If we enlarge the economy, there would be enough income tax to run the state; that’s where they failed. Their approach actually stifles the economy and when the economy is stifled, you will require force to bring in income. We are looking at enlarging the economy to empower more people to participate in the economy. Lagos is a megacity and has the mass of the people in place already. But what needs to be done is to increase the earning power of the people, to bring in the youths, which is a vibrant engine room of any economy. We also intend to reposition existing businesses in Lagos for expansion, to enable them participate in the general welfare of the state.

    What makes you think that the electorate would vote for the PDP this time?

    The PDP has not governed Lagos because, as you know, there is a time for everything under heaven.That is why we believe we would accomplish that goal this time around in 2015.

    What previous experience do you have that qualifies you to govern Lagos?

    I’ve been in politics for the last 23 years. I’ve always stood for the people in my entire political sojourn. I’ve been in business for the last 30 years and during that time, I’ve seen the tremendous potential of Lagos. I have proposed several solutions to Lagos State Government, but they were rejected. We must stamp out corruption. We must build a state that would cater for everybody, from the young to the old.

    There is this perception that the PDP at the centre has neglected Lagos.  What is your own take on it?

    What I know is that we would bring the Transformation Agenda of the President to every Lagosian.

    Do you think it’s a good policy?

    The Transformation Agenda…

    No, trying to discriminate against states that are not governed by the PDP?

    I don’t think there’s been a disconnect between the Presidency and the Lagos State; if there is, I don’t think it is deliberate because I believe the interest of the Presidency is the success of every state in the country. I don’t see any move to negate the state because it is not a PDP state.

    Is the PDP going to consider zoning and religion in picking a candidate for the Lagos governorship election in 2015?

    Well, I don’t know about zoning or religion. I think they are just going to consider the best candidate for the job.

    To what extent do you think stomach infrastructure is going to affect the governorship election in Lagos in 2015?

    It’s sad and very sad that lives of Nigerians meaning well for a better life would be reduced to temporary stomach needs. That is a very sad commentary and a reflection of the state of affairs in Nigeria. I believe that we should have gone beyond stomach infrastructure, by talking about a Nigeria where everybody has a sense of belonging; where patriotic leadership is meted out to the ordinary Nigerian citizens and where the aspirations of the ordinary Nigerians is captured in good governance. I think when we build a democracy where Nigerians can connect with the issues, then we would have built a democracy of our dreams.

    To what extent do you think the PDP is going to use the federal might or the resources available to it from the centre to prosecute the governorship election in Lagos?

    We are working very hard to make it an issue-based contest. We are presenting the issues, we are presenting our score cards and we are saying mark us based on what we say and what we do for the improvement of the lot of the people.