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Tag: promoting

  • Promoting cashew farmers’, processors’competitiveness

    Promoting cashew farmers’, processors’competitiveness

    A cashew stakeholders forum organised by the United States Agency for International Development (USAID)’s Nigeria Expanded Trade and Transport Project (NEXTT) in collaboration with African Cashew Alliance (ACA) took place in Ilorin, the Kwara State capital. The forum focused on ways to promote industry growth, DANIEL ESSIET reports.

    Thousands of Nigerians are engaged in the cashew industry. Most of them are farmers who cultivate the crop, while others export the produce to countries, such as India and Vietnam. The nation’s annual production of raw cashew nuts stands at 144,000 tonnes. Approximately 50,000 persons are engaged directly in the processing of cashew, and another 100,000 are engaged in the growing of the produce.
    Experts say there is a prospect of the industry creating over 50,000 new jobs in four years and injecting over N2 billion into the economy. However, there are constraints farmers and exporters face that undermine the efforts to realise the full trade potential through cashew export.
    The constraints include barriers that impinge on trading, lack of access to finance, information and capacity for growth is limited. Adding to the problem, is the fact that only 10 per cent of raw cashew production undergoes further processing.
    Despite these, the Executive Director, Nigerian Export Promotion Council (NEPC), Mr Segun Awolowo said cashew remains a big foreign exchange earner which has to be repositioned in the face of the declining crude oil price that is now more vulnerable to external shocks.
    Addressing the forum on cashew business competitiveness and environmental sustainability, co-sponsored by USAID Nigeria, (NEPC) African Cashew Alliance (ACA), in partnership with the National Cashew Association of Nigeria (NCAN) in Ilorin, Awolowo, who spoke through the Deputy Director, Product Development Department, Mr William Ezeagu, said cashew has been identified as one of the major cash crops with huge export potentials for the country.
    The cashew industry as a whole, he observed is still dogged by issues related to quality. Much of the problem with quality and safety issues, he continued, related to the large proportion of smallholders within the industry who lack the finances and ability to invest in modern technologies and innovate. Aflatoxins contamination, he noted is a trade issue, which needs to be tackled with urgency. He said the contamination imposes an enormous economic cost as it prevents commodities from meeting international regulations and standards governing agricultural trade and food safety. He, however, said awareness on the deleterious effects of Aflatoxin is fast rising and there is increasing demand by country stakeholders for action. Awolowo said NEPC is working with the World Trade Organisation(WTO) on preventive measures to address the issue that has lead to rejection of the nation’s cashew export.
    He said as a country, post-harvest handling of produce should be taken seriously and farmers educated on how to mitigate Aflatoxin contamination. He said businesses must heed more attention to improving it for the industry to develop sustainably over the long term.
    Business Advisory Manager, African Cashew Alliance, Mr Sunil Dahiya, said while Africa currently produces 40 per cent of the world’s supply of cashew nuts, it operates just a handful of processing facilities. He said cashew farmers and processors face difficulties complying with market requirements and lack the technical and financial means to produce cost-effective goods inz sufficient quantity and required high quality. As a result, when profitable new market opportunities arise, they are unable to be accepted as suppliers. This, he noted has given the alliance great concern. To end, he said ACA is focusing on building the capacities of cashew farmers and exporters to meet international quality standards through training on good agricultural practices to increase yields and quality. He said ACA has developed a capacity building programme to enables suppliers to meet the internationally recognised requirements in terms of food safety and quality. Through a combination of strategies, he said the alliance has been able to reach thousand s of farmers and processors, leading to the creation of new jobs in cashew nut processing, with 70 per cent of them for women. He said ACA has implemented sustainable pilot projects in several countries, where suppliers have achieved considerable improvement in their performance and compliance with food safety standards and Good Agricultural Practices (GAP). As a result, the quality and volume of marketable products has improved. At the same time, consumers have benefited from better and safer products and can expect more stable food prices.
    He said start-up processors are provided with a range of advice on how to grow their business, keep up with current market developments, improve their use of technology and expand processing of cashew by-products.
    The Managing Director, KD Food Processing Company Limited,Mr Garba Dikko said the lack of adequate knowledge on cashew financing by officials of banking institutions and farmers seriously affected fund raising to support agriculture in the country. He said the lack of knowledge about the specific financial needs of cashew farmers made the financial institutions to offer the same financial package to all farmers which often led to the disadvantage of many. He called for the development of different financial packages for different farmers groups engaged in different types of agriculture to meet their specific needs. With high cost of infrastructure, maintenance and electricity, he called on the government to protect local cashew processors and producers. Dikko said so much is required to establish a functional cashew processing plant. Dikko called for support for cashew processers to bring down production costs. Urging the government to offer assistance to farmers to improve production, he said poor productivity of cashew plantations is one of the major reasons behind the cashew nut processing sector performing at below capacity.
    The President,National Cashew Association of Nigeria(NCAN),Mr Tola Faseru said the nation’s cashew sector has enormous potential for businesses seeking to invest in the crop. He disclosed,however, that the sector is however suffering from declining productivity and dwindling export earnings because of structural problems. As a result, Nigerian cashew is less competitive in the international market . He called on the government to establish a N50 billion cashew development fund to support the industry . With such fund, he said it would be possible for the industry to achieve the target of 500,000 metric tonnes per annum. Faseru said the association is sensitising farmers across the country on quality control to enable them to enhance their product quality. Faseru called for more support for farmers and for government’s assistance for to develop more cashew plantations. The NCAN chief said if the cashew crop was processed locally, new direct jobs would be created by more than 1,000 businesses that would arise from the industry and millions of naira would be realised. This possible outcome is what is driving the campaign of the association to boost cashew production nationwide.
    The Director, Real Sector Department ,Nigerian Investment Promotion Commission (NIPC),Mr Reuben Kifasi said the cashew sector has many gaps and challenges, thereby providing opportunities at different levels for foreign investors to explore. He said there are some incentives and tax holidays for investors seeking to take advantage of investment opportunities which abounds across the agric sector. The need for high capacity processing plants, warehousing facilities, he said, are just some of the opportunities that investors can look at. He said NIPC is supporting sector players in developing coordinated efforts to mobilize domestic and foreign direct investment and enhance private sector development.
    The Director,Cluster Development Department,Raw Materials and Development Council,Mrs Haraja Tanko said cashew is a big business and that the government is supporting it because the potential of the industry has not been fully harnessed. Mrs Tanko said raw materials council is working towards boosting cashew nut production by the establishing three- processing plants and giving improved seeds to support farmers . The Acting Chief of Party, COP Nigeria Expanded Trade and Transport (NEXTT) ,Engr Isaac Adegun said the development of the industry would not only help diversify the agriculture sector and enhance the national economy but would also be a good way of tackling poverty. To this end, he said the project is aimed at improving and expanding Nigeria’s trade efficiency domestically, within the region and beyond, so that trade, particularly in agricultural products, supports inclusive economic growth and the development. With improved support of USAID|NIGERIA through the NEXTT project, he said assistance to the cashew sub-sector has been scaled up to the level of offering technical assistance at both the organisational and firm level.
    He reiterated that NEXTT is more committed to improving the processing arm of the sub- sector owing to its enormous potential of creating thousands of jobs and also contributing to macroeconomic stability through increased export earnings.
    He said USAID has concluded a study on the Nigerian cashew industry, adding that steps will taken based on it to improve cashew business competiveness and environmental sustainability.
    The SEAL Coordinator, ACA, Mrs Dorcas Amoh, said more demand for cashew, combined with buyer demand for product that is Seal-certified, is increasing sales. The certification, she said ensures quality for buyers, recognition for processors, and stability for farmers.
    According to her, ACA Seal offers returns for all cashew stakeholders. Mrs Amos said without adequate waste collection services, she said cashew waste can carry health risks for workers at processing facilities and local communities. She said the plan of the alliance is to assist farmers to use waste materials for their businesses and communities in other ways.

  • Promoting art at the grassroots

    Promoting art at the grassroots

    After a successful debut last month, a new creative session tagged Children Art Club, endorsed by INSEA and supported by Teaching Visual Art and Olumo Art Movement, will hold its second edition on March 21, at the Cultural and Musical Heritage Centre, Olumo Rock, Ikija, Abeokuta, Ogun State.

    Last month, the session attracted no fewer than 30 children between the ages of two and 16. The guests included the president, School of Virtue, Mr. Segun Coker; Director of Programmes, OGTV, Mr. Seyi Oladimeji and the Public Faces magazine team lead by Miss Bola Solate and president of Olumo Art Movement, Mr. Kola Anidugbe.

    According to the organisers, the platform is to grant talented children access to the best, most-stimulating and most-rewarding artistic engagements that include creative expression through drawing, mosaic, collage, painting, sculpture, wearable art, graffiti and many more.

    Others include teaching and learning of art techniques under the guidance of artists and art educators; share ideas with their peers; hands-on workshops with diverse studio artists and art educators; building portfolio and participating in national and international art contests; showcase their talents and skills through art exhibitions; virtual documentation of the children’s art works and media exposure. Facilitators included Alhaji Adeleye, Mr. Kehinde H, Prince Olusegun Adeniyi and a visiting artist, Lanre Tejuoso.

    The Children Art Club was established to make art education and art practice accessible and affordable (absolutely free) for Nigerian children irrespective of their social background, status or religion affiliation. It is meant to improve and expand access to Art education in such that the children of our nation will receive a broad and balanced education. The essence is to create a springboard to help the children on their voyage of discovery and self-expression.

    The Children Art Club is an outlet for self-expression, started in January 2015 to unlock talents, encourage aspirations, and nurture creativity. It is a creative platform for every child to help them harness, maximize and express unhindered their God’s given potentials in a serene environment that inspire creativity. “It is a platform where we can reach each child through art as a therapy, empowerment and personal talent development. At the February edition, the children were made to create wearable arts with white t-shirts. It was fun and the children enjoyed the remarkable moment of creating art on ready-to-wear shirts,” the art director, Olusegun Adeniyi said.

  • Promoting rural enterprises

    Promoting rural enterprises

    The last two decades have been challenging for the people living in the villages with growing unemployment and dearth of business opportunities. But  social  entrepreneurs  are  emerging to help young  people  to  return  to the rural settings  and  establish  village enterprises, DANIEL ESSIET reports.

    In some surrounding towns, Southwest of the country, young people are now involved in agro businesses and  farms reclaimed from the forests. Towns around Lala, Idiroko in Ogun state and Ogbomosho in Oyo State are welcoming village enterprises promoting cultivation of cucumbers, tomatoes and  watermelon.

    The young entrepreneurs  are  getting better prices for their produce and more control over value chains as they  move them  through  trucks  to Lagos. As  the  waste farmland roads are   changing fast,the creation of rural agro business  growth networks is  helping   rural areas overcome barriers to growth as  more rural business are   starting up, giving a boost to local communities and unlocking the economic potential of rural areas.

    The rugged lowlands are now  taken  over  by  agro enterprises  and plantations  as  businesses  are scrambling for land to invest in large agro-enterprises.  While there seems to be a positive effect  as   local businesses investing in these areas, building infrastructure or buying processing equipment, the  outcome, however is  that some young entrepreneurs are smiling  to banks with a lot of youths now determined to pursue agricultural business instead of a plush job posting.   One  of those  rallying  youths  to go  rural and establish  thriving agro  ventures is  Chief  Executive, X-Ray Farms Consulting, Akinoluwa Abayomi Mogaji,  popularly known as African farmer.

    To  a number  of  youths  scrambling for farmlands  to do  business, Mogaji is a thought-leader in promoting and facilitating economic participation.  Through his mentorship, the nation is  witnessing the explosion of   youth  empowered  agribusinesses. Speaking  with  The Nation,  Mogaji said  he  has  a  divine  mandate  to rid  the streets of  unemployed youths  and  turn  them  into agro entrepreneurs.This is in line with national growth and industrial objectives which aim to increase competitiveness and support for co- operatives and small businesses. His main investment areas are information and communication technology and media, and food and agro-processing.   His  strategic project is focused on increasing the inclusion of young people in early-stage projects. While some crops are identified as important drivers of growth, each project will be judged on economic merit and ability to deliver on the development mandate. The impact is not driven only by financial terms, but by the empowerment dividend.

    One  of the cardinal  programmes of his organisation is  to support   young entrepreneurs wishing to start new businesses access rural lands  to  establish  commercially viable projects that  will  benefit communities in rural areas. He  acknowledged  that many farmers and aspiring ones  contend with high cost of capital such as lands and machineries. However, he  has   discovered  a way youths, workers and retirees  can  explore  government land option  wasting  across  the country. He urged  people not to consider their obstacles to be greater than their dreams.  Mogaji, who started farming about two decades ago while still an undergraduate,  said  he  has  plans to  assist aspiring agro entrepreneurs access cheap land and  affordable  tractors.

    Besides this, he conducts  an x-ray of the proposed farming business, identifying what needs to be done for the business to be productive or more profitable. The x-ray can even be done before the person commits any funds into the business.

    For example, watermelon farming can make  farmers comfortable. This is happening in  areas such as Oyo and Ogun States where  he  has gotten  a number   of  youths     to start  ventures with precision farming, irrigation system and improved varieties  that  help them to attain economic gain. The farmers are  getting almost seven times of what they invested in cultivation practices.

    Years ago, he   faced  many challenges. Today, he has discovered a solution  that is  helping   him produce maize all year round using irrigation; watermelon, leafy vegetables, tomatoes, cucumbers and cassava. He started commercial farming in 1996.

     

     

  • Promoting unity on the pitch

    Promoting unity on the pitch

    Students of the Usmanu Danfodiyo University in Sokoto (UDUS) trooped to the university stadium last week to watch the final game between Anambra and Kaduna states in the soccer contest of all indigenous associations organised by the Students’ Union Government (SUG). IBRAHIM JATTO (400-Level Zoology) and HALIMAH AKANBI (200-Level Law) report.

    The soccer contest started 10 months ago, but it could not be concluded because of the Academic Staff Union of Universities (ASUU) strike. When the strike was called off, there was no time to return to the field to conclude the competition. Examinations beckoned.

    Last Saturday, students of the Usmanu Danfodiyo University in Sokoto (UDUS), in their thousands, flocked to the campus stadium to watch the grand finale of the football competition hosted by the Students’ Union Government (SUG) for all indigenous associations.

    The competition, the 15th in the series, was part of the measures to promote unity among the various ethnic groups in the university. The final match was between Anambra and Kaduna states’ students. While the latter was playing the final match for the first time, it was the sixth time for the former.

    By 2pm, the stadium was filled. Students from the competing associations expressed optimism on the victory of their colleagues.

    Katherine Audu, a 300-Level student, who hails from Kaduna State, said: “I am here to support my colleagues for them to be victorious because this is the first time Kaduna State will be playing in the final. So, I have to be here.”

    Shehu Balarabe, a 400-Level student, said: “I can’t wait for the game to start, this is our own version of the World Cup and we are enjoying the moment.”

    Precious Nwani, a 200-Level student from Anambra State, said: “This match is memorable; I am most delighted and I hope my state will win the cup.”

    The match kicked off at 4pm, with players from both teams displaying their soccer skills on the pitch. The first half ended goalless. A few minutes into the second half, the Anambra team striker, Anthony Shuaibu, scored a goal, which was contested by the Kaduna team.

    Kaduna fans, who believed the goal was scored from the offside, ran onto the field and accused the referee of bias. Students’ Union officials and security personnel calmed the angry students. The match ended 1-0, with Anambra students taking over the field in celebration.

    The Dean of Students’ Affairs, Dr Ibrahim Magawatta, represented by his deputy, praised the students for the spirit of sportsmanship displayed throughout the game. He said he believed the competition would make the students to shun tribalism and promote peace on the campus.

    Hailing the union for organising the tournament, Dr Magawatta urged it double its efforts to foster unity among students.

    Some of the players were honoured after the match. Aliyu Ladan, captain of Kaduna State team, was awarded the Most Valuable Player of the tournament; Anthony Shuaibu of Anambra team won a Golden Boot for being the player with the highest number of goals. He scored eight goals.

    The highpoint of the event was the presentation of the trophy to the winners.

    Students expressed satisfaction with the organisation of the event. Jubril Wada, a 400-Level student, said: “In my opinion, this is the best football tournament in this university so far; everything went as planned, despite months of ASUU strike that delayed the final match. It was a good tournament.”

    Morenikeji Dauda, a 200-Level History student, said the final match was fun, adding: “The football match will linger for a very long time in the memory of students that watched it.”

  • Jonathan Presidency promoting ethnicity, regionalism

    Jonathan Presidency promoting ethnicity, regionalism

    Assistant Editor LEKE SALAUDEEN reports that President Jonathan’s approach to some national issues is fuelling ethnic disunity, religious and regional intolerance in the build-up to the 2015 elections.

    Today, our unity is firm and our purpose is strong, our determination unshakable. Together, we will unite our nation and improve the living standards of all our peoples whether in the north or in the south; in the east or in the west. Our decade of development has begun. The march is on. The day of transformation begins today. We will not allow anyone exploit differences in creed or tongue, to set us one against another.”

    That was President Goodluck Jonathan’s mission statement at his inauguration on May 29, 2011, at the Eagle Square, Abuja. The declaration was intended to reciprocate the massive support given him by the electorate at the poll. The vote that brought him to power cut across party lines. He won in opposition states not because of his popularity or the appeal of his party’s manifesto, but probably to compensate his geo-political zone that had never produced a Head of State or President.

    Two years down the road, the question is: Has President Jonathan kept faith with his pledge to unite the country, improve standard of living and promote even development across all regions?

    Critics of the Jonathan Administration have accused it of giving covert and in some cases, overt support to aides of the President and others who are sympathetic to his administration as they play both ethnic and religious cards to sustain it in office, especially, beyond 2015.

    Critics have maintained that in a country where these two tendencies are treated with so much emotional attachment, the outcome could be inimical to national cohesion. Besides, they also point to some political developments, allegedly ochestrated by the presidency, which has put a lot of pressure and heat on the polity.

     

    Dividing the NGF

     

    Analysts point to the recent Nigeria Governors Forum (NGF) election, which suddenly turned controversial, in spite of the emergence of a clear cut winner. They posit that the Presidency played a diabolical role in the crisis. Curiously, President Jonathan has sort of confirmed the point through his recognition of the faction, generally believed to have lost that electuion. Today, the elitist political forum is almost irreconcilably divided.

    Besides, there was also the sudden emergence of the Peoples Demo-cractic party (PDP) Governors Forum (PDPGF). Ananlysts believ that it is unhealthy and that it has the capacity to not only undermine the national body but also force other parties into forming their own governors’ forum. it is an open secret today that, the President’s position on who becomes the chairman of the NGF has put a lot of heat on the polity. Initially, the president made us to believe that he was not interested in who wins the NGF chairmanship election. But after the election, which Rivers State Governor Rotimi Amaechi won with 19 votes as against 16 by his opponent, Governor Jonah Jang of Plateau State, it became apparent that he was very much interested in it. President Jonathan has, for the second time. given official recognition to the group that lost out when he held a meeting with them despite the warning by Amaechi that Jang should stop impersonating him. Thus, the President has “successfully” broken up the NGF for personal political survival.

    The division in the NGF has been extended to the Northern Nigeria Governors Forum (NNGF). The split has pitched the governors of Northwest states (Hausa/Fulani) against the minority states. The Presidency is suspected to have a hand in the crisis because the governors of the minority states are the arrow heads of the weak Amaechi-must-go-campaign.

    Abuse of privilege

    Critical stakeholders are unhappy that under President Jonathan’s watch, ethnicity has been elevated to an art. The popular opinion is that the President has subtly applied the divisive policy in his dealings with Nigerians.

    The President, Civil Rights Commission, Mallam Shehu Sani, said President Jonathan has wasted the immense goodwill he enjoyed in the run- up to the 2011 election.

    Speaking to The Nation in an interview, Sani described President Jonathan as the most divisive leader ever in the history of this country.

    “His presidency has polarised Nigeria more than any other president in this country. His supporters and foot soldiers have been engaged in fanning the embers of discord and disunity. His supporters have heightened the tension in the polity. Jonathan’s divisive approach to governance has disappointed his friends and emboldened his adversaries.

    “Jonathan’s presidency has destroyed the historic political solidarity and cordiality between the North and the Southsouth. Under Jonathan, the unity of Nigeria and its future has come into question as the nation is subjected to voices of disintegration and disunity”, he said.

    The Coordinator of Democrats for Electoral Reforms (CODER), Ayo Opadokun, said Jonathan was not the first leader to create division among people to achieve political ambition. He said it is a reflection of what is wrong in the society. Those accusing Jonathan of creating division among people , he said, would do similar thing when they are in power.

    Opadokun said Nigerian politicians would exploit the most suitable strategy to win comfort in their brinkmanship. “That Jonathan is using divisive method to neutralise the influence of his opponents is not out of place. The 2015 election is fast approaching; he’s in contention. He has government machinery and resources to divide them and win the election. When it comes to power, our politicians would go to any length to achieve their selfish interest”, he said.

    Social critic and political activist Prof. Tam David-West observed that President Jonathan has frittered away the goodwill that won him the presidential election in 2011. He said Jonathan is what he’s today because of northerners’ support. “Nigerians from all parts of the country voted for him to be president, without prejudice to my view that his election is stained.

    “Can the Ijaw or Niger Delta alone guarantee the constitutional provision that he must have won 25 per cent of the popular votes cast in two thirds of 36 states; that is 24 states? The answer is ‘no’. The total votes he had from his region was about 24 per cent. Now you turn round to say the Hausa/Fulani must not rule us again. People saying these are not the ones who put him there. They are abusing the people who put him there.

    “If Jonathan does not call them to order, his administration may be truncated. The abuses may have a backlash. He should stop the Ijaws surrounding him from making reckless statements and distance himself from the so called Ijaw leaders who are merely seeking attention and relevance”, he said.

    In the words of Sani, “Ijaw leaders, who were never heard during the military dictatorship, have now found a voice to churn out provocative and inciting utterances that clearly undermines the remnants of support Jonathan enjoys among Nigerians.

    “His administration is sustained by a barrage of propaganda and misinformation. The so called transformation agenda has turned into a political charade and facade for unbridled corruption and pervasive insecurity.

    “Worse still, Jonathan has not delivered on his promises and has only delivered Nigeria to poverty and crisis. He has abandoned governance for trivial issues in his desperation for re-election in 2015.

    “Just as he polarised the nation so also he split the PDP on whose platform he came to power. However, the disunity and confusion within the ruling party is a blessing for Nigeria. It is a sign of good things to come. A united PDP has been responsible for the destruction of Nigeria. The disunity in PDP will unite Nigeria”, he said.

    Playing up ethnicity

    The Arewa Consultative Forum (ACF) has accused Jonathan’s kinsmen of promoting religious and ethnic division in the build-up to 2015. ACF noted that the inclusion of two of its members – Major General Lawrence Onoja (rtd) and Senator Wash Pam, who were among the leaders of minority ethnic extraction at the instance of the Ijaw leader Chief Edwin Clark, who visited to President Jonathan and urged him to stand for re-election in 2015 has an utterior motive.

    Recently, both the leadership of the Peoples Democratic Party (PDP) and the Yoruba Unity Forum in the Southwest stormed Aso Villa to complain to the President that the zone is being shortchanged in terms of political patronage. The Igbo Youth Movement made similar complain. The Kalabari in Rivers State, too, had accused the President of ceding the oil wells in their land to Bayelsa, his home state.

    David-West had harsh words for Ijaw leaders for portraying Jonathan as primarily an Ijaw President. He recalled that the Save Nigeria Group (SNG), founded and headed by a Yoruba, Pastor Tunde Bakare and his compatriots, forced the National Assembly, when it was reluctant to do the right thing as stipulated by the constitution, to take action when the late President Umaru yar’Adua was terminally ill.

    “The person that finally moved the motion in the National Assembly to make Jonathan acting President was an Hausa man. There was no Ijaw input. Everything that made Jonathan what he is today as President, 24% of it came from his ethnic group. The other inputs were from other ethnic groups. When the likes of Edwin Clark and Asari Dokubo talk, they are creating more problems for Jonathan. It behoves him as the President and an Ijaw man to ask members of his ethnic group to, please, not make things difficult for him. They should help him to solve the problems he is facing and not add more to them.

    “A President who is elected by only a section of the country cannot reasonably be expected to bring Nigerians together and help them live up to their potential. That is to say a President cannot preside over a divided people and expects to succeed.

    US concern over polarisation

    In what is clearly an external concern over the growing ethnic division in the country, an American diplomat challenged Nigerian leaders to depoly the diversity of the country to its advantage. Speaking at a seminar, United States Ambassador to Nigeria Terence McCulley noted that this is a country of diversity of thought, diversity of culture and diversity of beliefs.

    McCulley said:”Too often, when we talk about Nigeria and with Nigerians, we hear about the differences: the Muslim North and the Christian South, the Hausa, the Igbo and the Yoruba. Nigerians deserve better; Nigerians can do better. While you should be proud of your religion, your culture, your background, your beliefs, you can do so in the light of the fact that you are all Nigerians, drawing inspiration from the uplifting words of your national anthem, he said.

    “I believe Nigerians must work together to build their nation irrespective of their religious beliefs. If one puts continuous emphasis on differences, rather than working toward overall betterment while co-existing, one risks chipping away at the very fabric of the nation”, he said.

    With the recent utterances by various stakeholders across the country, it is obvious that the delicate fibre that ties Nigerians together in the face of a multiplicity of ethnicity, beliefs or faiths, political persuasions and economic inclinations is being badly assaulted. This has far reaching implications for the country as it threatens directly its efforts at forging unity and oneness. Will the President intervene to reverse the trend before 2015?

  • Promoting culture among youths

    A multiple events featuring cooking competition (edikang-ikong soup and garri, gbegiri soup and amala, painting competition on My new Lagos (how the children want Lagos to be), march past and the display of hairdo at the National Museum, Lagos.

    It was this year’s Children Day celebration organised by the National Museum, Onikan Lagos with the theme, An agent of creativity and social change. The event was designed to promote Nigerian cultural values among the youths. It featured children who were drawn from primary and secondary schools in lagos State who demonstrated, how to receive a traditional ruler, how he should be respected and honoured in the society.

    Curator of the museum, Mrs Judith Ekunke, said it was essential to celebrate children and inculcate in them norms and values of our tradition ‘because they are the future generation’.

    According to Ekunke, “we use this event to celebrate the African child, inculcate into our children the things of tradition because they are like the carrier of our tradition”. She urged the children to appreciate the nation’s heritage and preserve the cultural patrimony.

    This year’s theme is coined from the International Museum Day theme: Memory plus creativity equals social change.

     

    Assistant Chief Museum Education Officer and Coordinator of Children’s Day celebration, Adegboye Janet Yemisi, said: “What we want from the students is to show interest in our indigenous culture. More so, we give them an avenue to be able to relate with each other, inculcate love and promote culture among Nigerian children. By so doing, they would disabuse their minds on any ethnic crisis”.

    She explained that the cooking competition was aimed at making children learn how to cook, particularly when children these days only cook indomie and fry eggs at the expense of traditional meals which are fading away. The event was sponsored by corporate organisations and individuals, such as Iyabo Lawani, MTN, Sweetco, Viju, Milkose.

  • Promoting sport business

    The business of sport in Nigeria is yet to be fully activated as there are lots of opportunities that have not been explored by business men in Nigeria however, these opportunities need to be discussed and clearly identified with the sole aim of activating interest from cooperate Nigeria in their direct investment into this sector. More importantly is the need for us to also bridge the divides that exist between the theories propounded in our various universities and its impact on the business of sport.

    I am of the opinion that with the right environment of interaction we will be able to expose the various business opportunities in sports this presentation therefore, is targeted at ensuring that the business of sport become a front banner discuss within the Nigerian Business Community and also an eye opener to the various viable opportunities inherent in direct investment in sport business with the near absolute assurance of its return on investment and the much desired profit generation from such investments.

    There is need for the Government to see sport as a veritable economic tool that has the capacity to create employment for all categories of persons irrespective of their age, sex, religion or ethnicity. Sport when properly packaged has the capacity to drive itself and also break even for investors. Sport business is not peculiar to Nigeria alone but what is peculiar to us for now is that we are among the countries in Africa that has got the potentials of creating wealth through proper investment in sport.

    Over the years we have been running sport merely as an investment without the business angle been explored and this also have a negative effect in that with huge financial investment into sport by Government most sport managers are lazy in embarking on marketing of their respective sport thus we find most sports always expecting handouts from Government before they survive.

    There is also this notion been syndicated by some non sport management professionals they say if government should stop sponsoring sports in Nigeria sport will die and honestly each time I hear such assertions am baffled because I tend to ask has the telecommunication sector died since NITEL stopped functioning in this country or has it improved with more investors coming into the telecommunication sector.

    Most people may argue that sport is different and I honestly agree that yes sport is different but in a positive note reason is that if we can have the desired initial investment into sport by government by way of the promulgation of laws that will encourage sport business investment in Nigeria such as what we are currently experiencing in the aviation industry whereby spare parts are imported to Nigeria with waivers from import duty. Having similar waivers for the importation of sport equipments and supplies will boost the sector as well as updating the existing sport facilities and building of new ones if possible.

    Government need to spend good money to give all its stadium good upgrade after which they should be commercialized for real sport investors to buy in nothing stops government from partnering with the private sector in the ownership of certain sport stadiums in Nigeria. The stadium and its environment if and when properly activated will not have to wait till match days before they can be used to generate money by the operators.

    I see people going to the National Stadium Surulere to conduct fitness classes for paid fees from participants but has anyone cared to ask if they pay for the use of the space in the stadium. What about the various shops in the stadium are they not generating money been there? And the various football clubs how many of them can boast of having their own training pitches, club houses, and stadiums, not to talk of their academies and feeder teams.

    When the business of sport is activated fully we will learn to appreciate that sport is a real mega business that can compete favourably with other sectors of the economy. Let me digress a little and discuss about the need why we have to stop talking and start acting today countries like south Africa have come to terms with the benefits of sport business and that is why at every opportunity you see the South African Government bidding to host major sporting events.

    Sport must be seen as a business concern and the management must be professionally selected to give the much leadership that will translate into financial benefit for the sector and improve sport performance by our athletes. We have to appreciate the fact that until we reduce government involvement in the management of sport we will not fully activate the inherent business potentials in sport. Most people refer to sport managers as not been sincere because they feel that Government money comes without much labour to the managers and these monies are not been properly accounted for by some managers but such can’t be possible in a situation where private investors put in their money to make profit.

    In concluding today’s write up, I will like to reaffirm that sport business presents a summary of the value of sports to the economy in any country in terms of the contribution it makes to economic activity and particularly employment. No effort should be spared to develop sports as it is an industry in itself which contributes to the economy as well as provides jobs for citizens. A corporate approach to sports development will bring positive changes to the way sports are managed and developed.

  • IFRS: Promoting accounting integrity

    International Finance Reporting Standard (IFRS) comes with laudable objectives. It is a concept meant to sanitise accounting practice in order to achieve corporate goals. To ensure that companies comply with IFRS, which has already been embraced abroad, the Financial Reporting Council of Nigeria says auditors must play a major role, writes AKINOLA AJIBADE

    Across the world, countries are stepping up efforts in adopting and implementing the International Financial Reporting Standards (IFRS).

    The concept is all about full disclosure of information in companies checking fraudulent practices; correcting means by which firms formulate and present their financial statements to shareholders and the regulatory authorities.

    IFRS also assists in checking the excesses of the Board of Directors to ensure financial probityand good corporate governance.

    It is a catalyst for economic growth as companies that have embraced it get good ratings, compete favourably at the international level and attract investment.

    Little wonder that countries and corporate bodies are increasingly signing on to IFRS by enacting laws for implementation. The United States (US), United Kingdom (UK), Germany and Canada are among developed countries that have keyed into the concept.

    Abroad, those that infringed on IFRS provisions have been sanctioned and fined, in addition to losing their licences.

    Those that compiled with the requirements are reaping the benefits of balance sheets.

    To achieve similar goals, the Financial Reporting Council of Nigeria (FRCN), formerly known as the National Accounting Standard Board (NASB), said it would leave no stone unturned in it efforts at sanitising accounting practice in Nigeria. The body said the development became necessary to enable companies to improve on their accounting process and further implement IFRS programmes.

    Being the only body, vested with the powers to issues accounting, actuarial, valuation and auditing standards that would be used in preparing financial statements of companies, the IFRC said it has power to enforce compliance of IFRS’s provisions. It said it does not expect anything short of full compliance from firms, adding that everybody would be accountable for his misdeeds.

    According to the body, every entity that is involved in issues relating to accounting or taxation will be expected to engage in full disclosure of information. It said failure to do so would attract penalty as part of efforts to improve accounting practice and further make them operative in line with global standards.

     

    Sanctions for auditors

     

    The Chief Executive Officer, Financial Reporting Council, Jim Obazee, said Sections 61 and 62 of the Constitution confers powers on the body to review the activities of external auditors and see whether there are grey areas in them. He said such auditors would be sanctioned depending on the gravity of the offence.

    Speaking at a seminar in Ijebu Ode, Ogun State, Obazee said there is no hiding place for auditors (internal and external) with questionable conducts.

    He explained that under the IFRS rules, auditors are required to affix their names against any accounts they oversee, saying any violator of the rules would be sanctioned.

    The implementation, he said, is that such persons would cease to be practitioners, or members of their professional bodies.

    He said the IFRC is only a secondary regulator and is not taking over the responsibility of primary regulators. It has the right to reassess the performance of auditors in companies after they have been certified okayed by other regulatory agencies, adding that the aim is to ensure that the rules of IFRS are adhered to.

    Said he: “The Central Bank of Nigeria (CBN), for instance, is the primary regulator of banks. IFRC has the power to re-regulate the accounting processes of banks. By this, IFRC will re-appraise the works of the external auditors, after they have been certified okay by certain relevant agencies. Whenever errors are discovered in the reports of auditors, such auditors will be invited for investigation. He or she would be sanctioned, based on the outcome of the investigations.”

    On corporate bodies, Obazee said there is going to be financial probity in corporate bodies as part of efforts to sanitise the accounting practice in Nigeria.

     

    ANAN position on IFRS

     

    The Association of National Accountants of Nigeria (ANAN) has advised the Federal Government to set up machinery that would guarantee the IFRC’s independence.

    ANAN said the development is in accordance with the Council’s Act, adding that it would help the council’s resolve to improve accounting practices and the auditors in particular.

    It said the constitution of the council is vital to the realisation of the IFRS objectives.

    The former President, ANAN, Dr Samuel Nzekwe, said the adoption of IFRS is a good omen for the country because it would help in sanitising the accounting practices, and further prevent people that are not competent to engage in auditing. Nzekwe said the issue of sanitising the accounting practice is germane to the growth of the economy, adding that the financial reporting council has started in the right direction. He urged companies that have not fully implemented IFRS to do, arguing that such companies stand the risk of losing credibility in the country.

     

    Capital market perceptives

     

    According to capital market operators, IFRS has become a catalyst for growth across the world. They said this is the era of globalisation, arguing that Nigeria cannot be isolated from the wind of changes that is sweeping the world. They said the international financial reporting standards have brought some changes in the way financial statements are being processed.

    The Vice-Chairman, Anchoria Investment and Securities Limited, Chief Olusola Dada, advised quoted firms to see IFRS only from the point of bringing fundamental changes to their operations.

    Olusola said institutions abroad have implementedIFRS because they are going to derive some objectives from it. He said this is the period companies want to compete globally, arguing that those that cannot put in place good corporate governance would find it difficult to attract foreign investments.

    “For Nigeria to improve its level of Direct Foreign Investment (DFI) and Portfolio Investment, the listed and non-listed firms must have a sound corporate governance programme in place. They can only win the confidence of foreign investors and further get good rating from recognised agencies, when their financial statements are prepared in the line with the provisions of IFRS.

    A capital market analyst, Mr Tayo Bello, said the implementation of IFRS is serious, urging the Financial Reporting Council to attach more seriousness to it.

    He said there are irregularities in the ways companies prepare their financial statements, arguing that auditors are guilty of this offence. He said when sanctions are imposed by institutions like the FRC, the level of infractions was bound to reduce in Nigeria.

    He said when an auditor loses his membership for committing an offence,others would be careful. He said experience has shown that the best way to clean a system is to use some people as scapegoats.

    “I think the only way to minimise accounting errors is to bring some people to book. The use of International financial Reporting Standards need not be handled with kid gloves, if meaningful achievement is going to be recorded in this area. In any profession, there are codes of ethical standards that must be followed to achieve success. In some professions, rules are relaxed for one reason or the other. But in accounting, the rules must be abide with to forestall financial management. When the auditors are made to comply with rules guiding their jobs, the better for the accounting profession.”

    In a related development, Nzekwe said the collapse of the capital market was due to actions of the bank executives to divert money and buy shares in the same bank to finance their subsidiaries. He said many of bank managers borrowed money from the banks and used them to buy stocks of their subsidiaries and converted them to personal use.

    He said many banks failed to become mega banks because of the lack of capacity to give long term loans to customers and failure to finance their foreign subsidiaries effectively. He said some bankers have shown that they are not ready to follow due process, arguing that the development causes a lot of problems to firms auditing their accounts.

    The former ANAN chief said it’s not only auditors that should be blamed for accounting errors, adding that everybody involved in the cost management in an organisation must be held accountable for the errors. He said once this happens, getting the right manpower to implement the international financial reporting standards would not be a problem.

     

    Arguments against

    adoption of IFRS

     

    Opponents of IFRS have argued that the idea is complex and unattainable for developing countries that have a lot of infrastructural problems. They said the conversion to IFRS is highly technical, time consuming and uneconomical. This, they said, is evident by the different regulatory frameworks that the government must provide before the standards work.

    Instead, they advocated what they described as Nigerian GAPP (the Generally Acceptable Accounting Principles). This a common set of accounting principles, standards and procedures that companies use to compile their financial statements. It is a combination of authoritative standards (set by policy boards) and simply the commonly acceptable ways of recording and reporting accounting information.

    According to them, IFRS is a global GAPP that countries are trying to implement for growth.

    “There is nothing wrong in having a Nigerian version of GAPP, which means that various aspects of GAPP must be domesticated to suit the purpose of local companies and further stimulate their growth. Inability to do so means that the country will be grappling with implementing IFRS,” they said.

  • Jonathan warns politicians against promoting violence

    Jonathan warns politicians against promoting violence

    President Goodluck Jonathan yesterday warned politicians against the use of political hoodlums to ferment violence in the next Saturday gubernatorial poll in Ondo State.

    The President said he was ready to provide adequate security to ensure that electorate are allowed to exercise their franchise without any fear.

    Jonathan who gave this warning at the Peoples Democratic Party [PDP] governorship Candidate’s, Chief Olusola Oke, Grand Finale Rally held at Democracy Park in Akure, the state capital, said those who are planning to use thugs during the poll are only wasting their resources on projects that would never see the light of the day.

    His words, “I was told that some politicians in the state are mobilising thugs to rig the election in favour of their party, they are only wasting their time because on that election day, those hoodlums will not be useful to them.

    “This election will be free and fair, there will be enough security personnel that will man all the various polling units. PDP does not promote thuggery, and we are warning some desperate politicians who are planning to cause mayhem during the poll to desist from this.”

    Jonathan urged the electorate to vote massively for PDP candidate, saying he had seen that the people are agitating for a change in government.

    He described the state as one of the blessed states that has enough resources to make the people live a comfortable life.

    His words, “Ondo state is blessed, this state is one of the luckiest states in Nigeria, the state is blessed for farming, and also as one of the oil producing states in the country. My administration has already concluded the plans to encourage farmers in the state. Ondo State farmers will soon be rich, the farmers will soon be smiling, but we are urging them to vote for PDP.

    “PDP love Ondo State, and we want to rule this state in order to ensure its grows like other states, we have presented a credible candidate for you, a man of integrity, a man who will bring rapid developments to the state.”

    The National Chairman of PDP Bamanga Tukur, who led the National Working Committee of the party to the rally, said they are in the state to support the PDP candidate, and to dispel the rumours that they were not supporting Oke’s candidature.

    Tukur, who presented the PDP flag to Oke and his running mate, Hon. Saka Lawal, said they are assured that PDP would win the gubernatorial election.

    Also at the rally, the Vice-President, Namadi Sambo who is also the Chairman Presidential Campaign Committee for Oke, Senate President, David Mark, and Rivers State Governor, Rotimi Amaechi all promised that there will be free and fair poll in the state.

    Mark particularly said that what PDP is giving to the country is an environment to conduct a free and fair poll.

    The Senate President said: “After voting, wait patiently to ensure that your votes are safe. Already we are aware the plans by some desperate politicians to rig the poll, but they are being shouting in the media that it was our party that is planning to rig, we don’t rig poll and we will never allow them to rig election.”

    Amaechi, who is the Chairman of Governors Forum, appealed to the people to support the PDP leaders in their bid to return to power in the state, saying that was the only way the people can benefit from the sympathetic gestures which other PDP states get from presidency.

    Oke, shortly after receiving the party flag vowed that PDP would win the coming gubernatorial election, saying that the people had known the difference between the previous PDP led government and the present ruling Labour Party [LP].

    “We will make the people smile again, in our government there will not be room for suffering, we will run a government that is transparent, we will improved the people standard of living. We will encourage industrialization; we will reduce the high rate of unemployment” Oke promised.

    Dignitaries, at the event were, Governor of Bayelsa Dickson Seriake, former Governor, Olusegun Agagu, National Vice Chairman of PDP, Dr. Sam Sam Jaja, National Secretary, Olagunsoye Oyinlola, South West Deputy Chairman, Segun Oni, Women Leader, Ambassador, Kema Chikwe Senators, Bode Olajumoke, Hosea Agboola, Hosea Ehinlanwo, Dr. Olaiya Oni among others.