Tag: ranking

  • CAC boss hails Nigeria’s ranking in ease of doing business

    The Acting Registrar-General of the Corporate Affairs Commission (CAC), Lady Azuka Azinge has described as commendable Nigeria’s commitment to the improvement of investment climate as well as its improved ranking on the World Bank Ease of Doing Business 2018 from 169 to 145.

    She made this remark at the maiden quarterly meeting with management and staff of the Commission at the Commission’s headquarters in Abuja.

    According to her, the reform initiatives of the Commission in respect of startups contributed to the improvement in the index just as she reiterated that the Commission will not rest on its oars but will continue on its reform initiatives to ensure that the country continues to improve on its ranking.

    Lady Azinge also briefed staff on the Commission’s achievements with respect to the ongoing 60–Days National Action Plan (NAP2.0) by the federal government. She disclosed that the Commission successfully organised three sensitisation programmes in the commercial cities of Lagos, Kano and Port Harcourt on 19th October, 30th October and 2nd November, 2017 respectively.

    In his remarks, Comrade Ibrahim Kirfi, the Chairman, CAC Chapter of AUCPTRE, congratulated the CAC boss on her well deserved appointment and pledged that the Union was indeed willing and prepared to work with her to take the Commission to greater heights.

  • World Bank presents 2018 Doing Business ranking to govt

    World Bank presents 2018 Doing Business ranking to govt

    The World Bank team yesterday, formally presented the 2018 Doing Business ranking to the Federal Government as evidence of progress made by Nigeria on the recent reforms embarked upon by the government.

    The World Bank in its latest ranking on Doing Business confirmed Nigeria’s progress across several indicators comprising, starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts, and resolving insolvency.

    A statement from Mr. Laolu Akande, Senior Special Assistant to the President on Media and Publicity, Office of the Vice President said “the council which is meeting for the first time since the release of the latest rankings by the World Bank will look at the significance of Nigeria’s ranking, especially as the country features as one of the 10 economies showing the most notable improvement in Doing Business 2018.”

    He noted that “other indices that will feature in the council’s discussions on Doing Business index include the distance to frontier metric which rose from 48.18 in 2017 to 52.03 in the 2018 outlook, and per capita income, among other issues.”

    Akande also disclosed that the Presidential Enabling Business Environment Council (PEBEC) will appraise the ongoing implementation of the second National Action Plan (NAP 2.0.) as well as get an update on PEBEC special projects.

  • Much ado about ranking

    •Foreign ratings do not reflect local realities in our banking sector

    In a country whose financial landscape is surfeit with awards of various shapes and descriptions, we are neither surprised nor excited by the latest ranking that put some of our so-called top banks among the global 500.We refer to the ranking by the Banker magazine of the Financial Times and Brand Finance of London which puts First Bank with a $301 million brand value in 357th place globally; followed by GTB with a brand value of $258 million – 395th;  Zenith with a brand value of $247 million – 414th; Access with a brand value of $182 million, and UBA with a brand value of $172 million – 476th and 487th places, respectively.

    Brand value, according to Brand Finance Chief Executive Officer, David Haigh, is the amount a third party will need to pay in using the brand name.

    In the age of globalisation, we understand that brand activism, as against the age-old conservative orthodoxy which governed the banking profession, is the new order. Hence the quest by our financial institutions to be among the globe’s top players.

    The problem comes when such quests do not translate into anything of substance either in terms of operational capacity or competitive edge of the disparate players in the sector. As it is unfortunately the case with the nation’s banking sector, bloated perceptions have tended to count for very little.

    To be sure, there can be no questions that the five banks are top of the pack – locally. However, the suggestion that they are already among the top 500 globally would seem at this point closer to an illusion. For, while the overall picture of the nation’s financial services sector may not necessarily suggest systemic distress, what is also true is that the sector does not exactly cut the image of soundness either.

    One easy proof of that can be found in the Central Bank of Nigeria (CBN)’s second quarter Financial Stability Report which hints quite frankly at an industry still in the thrall of poor credit decisions by operators. As noted by the apex bank’s authoritative report: “The industry ratio of non-performing loans net of provision to capital increased significantly to 30.9 per cent at end-June 2016 from 5.9 per cent at end-December 2015, depicting weak capacity of the sector to withstand the adverse impact of non-performing loans … Non-performing loans in the period under review grew by 158 per cent from N649.63 billion at end-December 2015, to N1.679 trillion at end-June 2016.”

    The wider picture of course is one of an industry that appears to have long lost its raison d’être. Presently, local businesses – whether micro, small, medium or big, have complained to no end of being ill-served by the financial system. From the usual humongous cost of credit, preference for short-term credits, to foreign currency speculation, the overall picture is one of an industry drawn more into trading in safe financial instruments such as treasury bills and foreign currencies as against one committed to business promotion or encouraging start-ups.

    Far from having anything against foreign awards or ratings, the point is that such rankings hardly ever reflect local relevance or capture the essential governance issues that touch fundamentally on the economy. This explains why such efforts not only end up being spurious but lacking in utility.

    We do not suggest that the ranking is entirely useless. Benchmarked against the parameters stated by the magazine, other players in the financial services sector may have one or two things to take from it. The main point is that the ranking does not, in any way, substitute for the financial services that Nigerians crave or even one that the country desires. These are access to affordable long term credit, financial advisory services to grow start-up businesses, and a sound financial system.

  • Quadri leads Nigeria’s rise in ITTF ranking

    Quadri leads Nigeria’s rise in ITTF ranking

    • Egypt below Nigeria in team rating

    Aruna Quadri made another giant stride in the latest ITTF ranking to lead Nigeria’s rise in the world rating released by the world table tennis ruling body.

    Quadri remains the best player from the continent for the second time in the last two months, as the 2014 ITTF Star Player improved his world rating from 30 to 29 in the April ranking in the men.

    Also, former African champion and intending seventh time Olympian, Segun Toriola gains more points to move to 109 from 117, while Bode Abiodun also improved to 179 from 185.

    However, former African champion and Egyptian inspirational star, Omar Assar continued to slide in the world rating as the 2015 African Games champion dropped from 36 to 37 in the latest rating.

    In the women rating, Egypt’s Dina Meshref continued to lead the continent despite dropping from 97 to 98.

    The highest rated female Nigerian player is Edem Offiong who remains fourth in the continent despite improving from 242 to 230 in the world, while Olufunke Oshonaike who was ranked 235 has been taken off the ranking due to inactivity in the last six months. In the Olympic Team ranking, Nigeria continued to dominate Egypt in the men’s rating despiting dropping from 25 to 26 in the world.

    Egypt were unmoved in the ranking as they are still rooted in the 32nd place in the world.

    In the women team rating, Egypt is still ahead of Nigeria having occupied 31 in the world while Nigeria is 40th.

  • Durodola targets African title to boost ranking

    Durodola targets African title to boost ranking

    Olanrewaju Durodola successfully defended his World Boxing Council Continental Americas Cruiser Weight title by knocking out Argentine Walter Cabral in the first round of their scheduled 10 rounds boxing duel in Sao Paulo, Brazil.

    The 2008 Beijing Olympian, who is also an officer in the Nigerian Police Force, travelled with his coach, Babafemi Adefemi and manager Roland Jankelson for the fight, took just 2 minutes 41 seconds to knockout Cabral.

    With this victory Olanrewaju’s record stands at 20 wins (18 KOs) and two losses and the victory has cemented his 6th place ranking in the World Boxing Council Cruiserweight category, edging him closer to a title fight against the world champion Grigory Drozd.

    Olanrewaju is billed to fight for the WBC African Cruiserweight title against Ghanaian Braimah Kamoko on August 23 in Lagos. The title fight is to be promoted by Remi Aboderin of the Nigerian Boxing Board of Control and Brila Sports Exposures, the boxing promotional outfit of Brila Sports Radio.

  • Innovation, attitude affect ranking

    Innovation, attitude affect ranking

    The ranking of tertiary institutions will only get better if both administrators and workers adopt new innovations, former Registrar Obafemi Awolowo University Ile-Ife, Mr Ayomide Ogunruku, has said.

    Ogunruku stated this while delivering the Second Registry Lecture of the Adeniran Ogunsanya College of Education, Otto/Ijanikin (AOCOED), Lagos.

    He said Information and Communications Technology (ICT) is one way tertiary institutions could market themselves.

    To this end, he counselled that workers must be ICT-compliant if they must align their dreams with robust vision of their institutions.

    The lecture titled: “Effective administration of tertiary educational institutions in the 21st Century” was in honour of the immediate past Registrar of the college, Mr Bola Disu.

    Ogunruku said: “No one is in doubt that Nigeria’s TEI (Tertiary Education Institutions) are among the badly ranked in the world. The simple difference between the best and worst TEIs are not in the buildings or names, but in ways human beings in both places operate. One is therefore bold to say our TEIs will continue to be badly ranked so long as we are not ready to change in our perception, attitude and manner of doing things.

    “It is, therefore, imperative to use this medium to appeal to all managers of Nigeria’s TEIs not to be innovative in revenue generation alone, but also know how to priortise need and expenditures. No TEI is ranked on the number of official vehicles available therein, but on the basis on quality library and laboratory as well as the product.”

    As administrators, Ogunruku advised AOCOED workers to acquire laptops to further consolidate their knowledge of ICT.

    “With ICT, the mode of delivery of teaching has changed tremendously. In fact, with ICT, lecturers have ceased being the only source of information as students too can individually access up-to-date information via the internet that teachers might not have accessed,” Ogunruku said.

    He warned senior administrators against victimising subordinates, describing it as a grave sin.

    “As administrators, do not hoard information or sit down on people’s promotions and privileges, when you do that, a life is being denied,” he said.

    While lauding AOCOED, Ogunruku urged its management to move from paper to paperless mode of operation.

    He admonished management and workers to build the alumni associations into a brand that can also help in shooting the institution to the top. Ogunruku said achieving this begins from the way workers treat their students.  He noted that when they eventually became successful in future, they would love to associate with the AOCOED brand because of how they were treated.

    The Provost, AOCOED, Mr Wasiu Olalekan Bashorun, noted that Disu deserved a pat on the back, considering his creativity and innovativeness when he was in the saddle.

    He urged his successor, Mr Olumuyiwa Coker, to consolidate on his achievements.

  • LBS maintains Financial Times ranking

    LBS maintains Financial Times ranking

    •Third in Africa

    The Lagos Business School (LBS) has maintained its ranking on the Financial Times of London’s list of global front-liners in open enrolment education, living up to its repuation as a leading provider of management and business education on the continent and beyond.

    In the FT’s Executive Education 2015 ranking published in London, LBS placed 59th globally and third in Africa in the open enrolment executive education category, achieving the much-coveted ranking for the ninth consecutive year since 2007.

    LBS also made the FT’s list of reputable custom education providers for the first time, where it clinched the 79th spot, one of six business schools in Africa to achieve the feat.

    Dean, LBS, Dr Enase Okonedo, said the school’s ranking was significant, given that it was the only business school in the West African sub-region to join its prominent global counterparts in this year’s FT ranking for open enrolment and custom education providers.

    In this year’s ranking, IMD Business School, Switzerland maintained its top position on the list, followed by IESE Business School, Spain and Harvard Business School, USA, among others.

    The University of Pretoria’s Gordon Institute of Business Science (GIBS), USB Executive Development and Wits Business School – all based in South Africa – were the other African business schools ranked with LBS.

    Yearly, the Financial Times of London publishes a list of the best management programmes from business schools around the world. Its ranking is based on the quality of learning, staff and student diversity, growth in business and international reach of renowned business schools.

  • FIFA WORLD RANKING:  Super Falcons are 33rd

    FIFA WORLD RANKING: Super Falcons are 33rd

    • World Cup opponents, USA, others in top 10

    Super Falcons of Nigeria have dropped to the 33rd position in the latest FIFA ranking released yesterday. The Africa champions dropped one place from 32 but remained the best African team.

    Germany retained its number one spot while all the African teams dropped points except for South Africa’s Banyana Banyana and Madagascar that were non-movers.

    With the FIFA Women’s World Cup expected to commence in 70 days time in Canada, Nigeria will play against three nations that have been ranked in the top 10 of Women’s football.

    A glance at the respective strengths of the World Cup groups reveals that Group D, which contains the USA (2nd), Australia (10th), Sweden (5th) and Nigeria (33rd), is the strongest on paper with an average ranking of 12.5, while Group C, with Japan (4th), Switzerland (19th), Cameroon (53rd) and Ecuador (48th), is the weakest (31).

  • ITTF Ranking:  Quadri slides to 32

    ITTF Ranking: Quadri slides to 32

    • As Egypt’s Assar moves to 43

    The quarterfinal defeat suffered in the men’s singles event by Nigeria’s Aruna Quadri at the International Table Tennis Federation (ITTF) Africa Senior Championship held in Cairo, Egypt has adversely affected the fortune of the ITTF Star Player at the February world rating released by the world table tennis ruling body at the weekend.

    For being beaten by Egypt’s Mohamed El-Beiali, Quadri dropped from 30 in the world to 32 in the latest ranking while his conqueror improved in his rating as the Egyptian moved from 195 to 179 in the world.

    For winning the ITTF Africa Senior Championship, Egypt’s Omar Assar whose last world rating was 66 is now rated 43.

    Despite sliding the world rating, a confidence Quadri amassed 19 points to add more points to his overall points. In January, he has 2,246 points and with his recent slump, he now has 2,265 points.

    “I believe the loss in Cairo may have contributed to my drop and I hope to improve with it this month as I will be competing in series of Pro Tours starting with the Qatar Open this week,” he said.

    Meanwhile, China’s Xu Xin, who made the Men’s World Ranking list in March 2014, maintains his status as the world’s best player in the globe.

    China’s Xin is listed at number one on the Men’s World Rankings issued by ITTF. Top spot for Xin but the top attraction is Robert Gardos.

    The man, who led Austria to a silver medal finish at the World Team Cup in Dubai in January, climbs from 27 to 20 to enjoy his highest ever global status, while his previous best was number 24 in November 2014.

  • NLNG tops firms’ ranking

    NLNG tops firms’ ranking

    Liquefied natural gas exporter Nigeria LNG (NLNG) is fourth in the ranking of 100 companies in Nigeria.

    The ranking was undertaken by business development and marketing consultants, Jake Riley, in partnership with the Federal Ministry of Industry, Trade and Investment (FMITI).

    International oil companies – ExxonMobil, Shell and Chevron – took the top three spots while NLNG came fourth, leading other Nigerian companies in the blue chip listing.

    Other local and international establishments that made up the top 10 of the league table were Total Nigeria, MTN, Dangote Group, Oando, Eni-Agip and First Bank Nigeria Plc.

    Commenting on the achievement, NLNG’s Managing Director and Chief Executive Babs Omotowa, in a statement, said: “We recognise that this achievement of being the foremost Nigerian establishment in the latest ranking also places on us the responsibility to continue to remain the model company that shows how Nigeria can generate value from its abundant human and natural resources.”

    Nigeria LNG, as the arrowhead of the Federal Government’s effort to end gas flaring, has successfully converted gas that would have been routinely burned off, into lucrative cargoes of liquefied natural gas, exported safely and reliably to customers in different parts of the world.

    Earlier this year, NLNG paid corporate income tax (CIT) of N220 billion to the Federal Government, becoming the largest corporate tax payer. The amount accounts for some five per cent of the government’s revenue.