The Nation Newspaper

Tag: revamp

  • Time to revamp our refineries

    Sir: Crude oil, ever since it was discovered in 1956 at Oloibiri, a remote hamlet in Bayelsa State, has remain the livewire of Nigeria’s economy. This is for over six decades now. God forbid, what will happen, if at present, we wake up and find out that our lush oil wells have all evaporated?

    Now, other members of the Organisation of Petroleum Exporting Countries (OPEC) have continued to amass enormous foreign revenue as a result of them locally refining their crude oil. But the opposite is the case with Nigeria. We drill our raw crude, then afterwards, voyage it overseas to be processed into other finished energy bye-products. That we have to pay for the unrefined crude to be shipped out of our shores, and then buy back—with huge foreign exchange, obviously beggars belief. It is ludicrous, to say the least.

    Reports have it that Nigeria is the only OPEC member-state that still imports petrol. The country presently imports about one million tonnes of Premium Motor Spirits (PMS) every month, making it the largest importer of PMS in the world.

    In June this year, the Central Bank of Nigeria (CBN) disclosed that $36.371 billion was expended on the importation of petroleum products from 2013 to 2017 alone. The director in charge of research in the apex bank, Ganiyu Amao, made the disclosure while testifying before the House of Representatives Ad-hoc Committee on Refineries TAM. The apex bank lamented that the huge amount spent on petrol imports had affected the nation’s external reserve and induced the depreciation of the naira.

    But there is the Port-Harcourt, Kaduna and Warri refineries. What, actually, ‘may be’ wrong with them?

    Former Minster of Petroleum Resources, Diezani Alison-Madueke, in 2014, at an Oil and Gas Summit, was reported to have that Nigeria’s four refineries have not undergone necessary repairs, four years after their original builders completed the technical assessments on them in 2010.

    She said the inability to carry out a turn-around maintenance (TAM) was due to the scary level of decay at the plants.

    ‘’For over 20 years, the equipment were not changed or maintained’’, she said back then.

    On the refineries, experts in the oil industry believe that contracts awarded for their repairs were either abandoned half way or not even executed at all.

    However, Minister of State for Petroleum Ibe Kachikwu, had in March, assured that the four refineries will soon be revamped and will be ready—at most—in 18 months. Given that the 2019 target for Nigeria to end fuel importation is fast inching forward, there is need for the minister to once again tour the ‘currently rehabilitated’ refineries to know how far work has gone and to inform Nigerians of how soon the works will be completed.

     

    • Abdulrazaq Arafat, Bayero University Kano.

  • ‘Why Fed Govt should revamp refineries, others’

    To stem the recurring fuel scarcity and create jobs, the Federal Government needs to revamp the refineries, the Petroleum Technology Association of Nigeria (PETAN)has said.

    Its Chairman, Bank Anthony-Okoroafor, told The Nation that members of the association at their last meeting reviewed the ‘Seven-Bigwins’ of the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, which revolve around bringing the refineries on stream, stressing that the association highlighted the importance and benefits of revamping the refineries.

    “One of the big wins is to revamp the refineries. When the refineries are revamped, they will create opportunities for the people in that line of business,” he said, adding,  “imagine a small country like Ghana, it has a very functional refinery at Tema. So, it is important we make our refineries work especially as Nigeria is a major global oil producer.”

    On the Petroleum Industry Bill (PIB), Okoroafor enumerated the gains of passing the bill, saying the Senate Committee Chairman on Petroleum Resources (Upstream), has assured that the bill will be passed in the first quarter of this year.

    He said: “The governance aspect of the bill has been passed, what is remaining are the fiscal, community and administration aspects of it, and they have passed different readings at the National Assembly.

    “Once these remaining aspects are passed, old policies and laws will be replaced. It will take away fears about fiscals and investors will go on to invest. I believe everybody will support that,” he stated.

    On the planned marginal field bid round, the PETAN chief stated that its members were ready to take advantage of that opportunity, but cautioned that those who intend to bid should check some fundamentals.

    As he put it: “Marginal fields were awarded to some industry players few years ago, but how many of them have developed the fields? he queried, pointing out that before you bid for a marginal field, consider how you would raise the money required to develop it, how you will build the critical mass required to move from exploration to first oil.

    “My advice is, people should learn how to collaborate, stop working in silos and halt the 100 per cent ownership syndrome. The industry players should learn to collaborate because we all should not have a fabrication yard or rig. Collaboration is imperative, particularly now that investors have options to choose from, as many countries have found oil,” adding: “These days, money moves to environment that is friendly to money.”

    Okoroafor pointed to education as another area that desires and deserves attention.

  • Will Obaseki revamp The Observer?

    SIR: On December 15, The Observer newspaper held its annual forum of togetherness. My being there was like a second homecoming of sorts. In 1989 or thereabouts after reading a piece by Anthony Enahoro, I resolved to try to write as he did, being an undergraduate then. But I had no idea how to get my articles published. The breakthrough came however after I read another piece by a senior who asked me to write and send him anything I fancied. I did so and the next time I saw him, he was all smiles, telling me that he had enjoyed my piece and that I was good to go. Therefore, for the four years I spent as an undergraduate, I was one of those who contributed regularly to the ACADA GIST column, together with opinion pieces every now and then for The Observer.

    Even though I was always paid for my writing then, there was something special about a by-line which money cannot buy.

    But coming to The Observer Forum was a mixed bag of emotions. This was where my writing and training as a journalist was nurtured. But indeed, it was not just me; most persons who are big today in the practice of journalism and from this part of the country certainly would have cut their teeth and honed their skills here. Yet, as I walked into the library of this esteemed newspaper house, I was to get the feeling of walking into the year 1990 in 2016. It was an awkward feeling. Yes, here I was in a library which appeared to be frozen in time, no different from the one in 1990, without air conditioners, dusty and rotting away, but I was to be excited as well to have the privilege of going through some of the work which I had done then. It was this awkward rush of emotions that made me leave as soon as the keynote address began.

    I will not be the one who will tell you that all the machines for production today in The Observer will not qualify for a place in a modern museum. I will not be the one to tell you as well that every attempt at ‘bringing back the lost glory of this great centre of robust journalism has been frustrating. I will not be one to tell you that The Observer is a state government paper, and criticism of government policies and programmes has always been tempered by civil service considerations. Those things already have been said by the man who should say them. But what I would tell you is that I will not support bringing The Observer back to its ‘lost glory’, especially if that lost glory will consign The Observer to the past.

    The present governor, Godwin Nogheghase Obaseki should realize that a newspaper like The Observer should not just be a mouthpiece of state to be used as a gramophone to orchestrate or amplify government achievements. It should be more than that, because as we progress along the millennium, what we find painfully pertinent is that the greatest threat to innovation in governance today is not the journalist or writer or critic who lampoons government. The greatest threats are the yes-men – those who deliberately refuse to interrogate and lampoon government because of the anticipated risks. The way it is now, that is what this esteemed paper has been reduced to over the years. If Mr Godwin Obaseki decides the revamp The Observer, history will look more kindly on him than on his predecessors.

     

    • Bob MajiriOghene Etemiku

    Benin City.

  • Oke promises to revamp economy

    The governorship candidate of the Alliance for Democracy (AD), Chief Olusola Oke, has vowed to turn around the state’s fortunes if he assumes office as governor next year.

    Oke spoke at the inauguration of his campaign team in Akure, the state capital.

    He assured the people that he had put in place a programme to revamp the economy and make the people the cornerstone of his administration.

    A statement by the Chairman, Media and Publicity of the Olusola Oke /Ganny Dauda Campaign Organisation, Bisi Kolawole, described the AD as a movement resolute to form the next government after its victory on November 26.

    His words: “This poverty in the midst of plenty and the glaring ineptitude of those in power is unacceptable.

    “We want to change this, we want to bring in a new order, we want to bring in a new vision, we want to make our people happy and bring joy into the lives of all and sundry in Ondo State.

    “We will revamp our economy, we will make our traditional rulers happy, make our people the cornerstone of our programme and empower our youths to benefit from the abundant recourses that abound in Ondo State.’’

    The AD candidate said his campaign would begin at Ondo East Local Government today to meet with the people and intimate them on his programmes to take the state back on track.

  • ‘Revamp agro-export market’

    ‘Revamp agro-export market’

    National Publicity Secretary, National Cashew Association of Nigeria (NCAN), Sotonye Anga, has urged the government to increase agro exports that can generate more employment, foreign exchange and ensure sustainable economic growth.

    He urged the government to remove trade barriers in export and solve the problems in the sector.

    Anga, who spoke at the just- concluded International Cashew Conference in Dar es Salaam, Tanzania, said the association had taken steps to promote cashew farming as a profitable business.

    He said cashew farming has is being done in all geo-political zones of the country. He listed the major cashew growing states to include Enugu, Abia, Imo, Anambra, Ebonyi, Cross River, Oyo, Osun, Ondo, Ekiti, Ogun, Delta, Kwara, Kogi, Nasarawa, Benue, Taraba, Niger and Federal Capital, Sokoto and Kebbi.

    He said there had been a steady increase in Nigeria’s annual cashew nut production.

    Anga, who is also the coordinator Agribusiness, Community of Agricultural Stakehold-ers of Nigeria, said the country had been listed as one of the top 100 Raw Cashew Nut (RCN) producing countries in the world, with a fbout 150,000 metric tonnes of export grade cashew nuts annually.

    Besides, he  said Nigeria has been adjudged the third largest producer in Africa after Cote d’Ivoire and Tanzania, and seventh largest in the world.

    In 2013, he said cashew was  the third largest agricultural export and foreign exchange earner for Nigeria, and about $110 million was earned by exporters from cashew, which represents about 10 per cent  of the agricultural export by the Nigerian Exports Promotion Council (NEPC). Noteworthy, he added that Nigeria’s cashew export was imported by Singapore, India, Vietnam, UAE, and Hong Kong in 2013 and last year, according to NEPC, this year.

    He said the cashew agribusi-ness in Nigeria is worth N24 billion ($160 million) as at last year and over one million people depend on the industry for their livelihood.

    The conference was attended by delegates from Australia, China, India, Tanzania, Malawi, Ghana, Ivory Coast, Malawi, Mozambique, Nigeria, and other countries.

  • ‘How Buhari can revamp Nigeria’

    ‘How Buhari can revamp Nigeria’

    Dr Ugorji Ugorji is a chieftain of the All Progressive Congress (APC) in Imo State. In this interview with MUSA ODOSHIMOKHE, he  reflects on President Buhari’s anti-corruption crusade, the battle against insurgency, the pro-Biafran agitation in the Southeast and other issues.

    How are you responding to Imo State Governor Rochas Okorocha’s call on indigenes to join hands with him to take the state to a greater height?

    I have been involved in progressive politics in the United States for over 20 years, having worked in Democratic campaigns such as Obama for America, and now Hillary for America, to mention just those two. So, it is natural for me to be involved in and to identify with progressive politics in my home nation, Nigeria. This was why I was drawn to the progressive agenda of Chief Dr. Chekwas Okorie and why I volunteered (Pro-Bono) as the Director General of his campaign for president. I had never formally registered as a member of any party in Nigeria; so I led Okorie’s campaign without being a registered member of the UPP. The UPP, as you know, was more closely aligned to the APC in ideology and even in its pronouncements during the last presidential campaign than any other party in Nigeria.

      So, will you join the UPP or the APC formally?

    The main goal in political party activism is the acquisition of power for an opportunity to implement an agenda for the people. I think all progressive forces in Nigeria should coalesce so that there will eventually be a clear difference and a battle line drawn between progressive and conservative elements. The APC has provided a triumphant anchor for such coalescence. So, yes, after the presidential election, I formally registered with the APC at my local ward in Lorji, Aboh Mbaise LGA of Imo State.

     What has been your experiences so far coming in as a Diasporan?

    I registered in the APC as a Nigerian, not as a Diasporan. For over 25 years I have been directly involved in national development in Nigeria because I have maintained dual residency. I participate in Lorji and Imo activities more than most of our folks who live in Lagos, Abuja and other parts of the country. So, I registered with the APC as a regular and ordinary son of the soil. My experience in Imo APC so far has been encouraging. The party operatives at my ward, my senatorial region and in the state at large are excited about what I bring to the party in virtually all dimensions of community organising and community service.

    How would you assess the strength of the APC in Imo State and the Southeast in general?

    The APC in Imo and in the South east is a work in progress. Certain dynamics in the Southeast that created bias against the APC in the last election are no longer there. So there is a great opportunity for the party to grow and consolidate in the Southeast. However, the only APC governor in the Southeast will have a lot to do with the growth of APC, based on either his performance or his lack of performance. Owelle Rochas Okorocha has a great and yet historic burden on his shoulders. He has the rare opportunity to transform the politics of the entire region and perhaps the nation if he opts to be the best performing governor in the country and if he understands that he needs to share power in order to grow or expand power. I expect nothing less from him. And I have some ideas on how he can accomplish this.

    How do you assess the Buhari administration?

    I think that for a relatively new party that has come to power for the first time, after 16 years of the PDP government, the APC has done a spectacular job of managing the expected and predictable challenges of its meteoric success. I am a patient man and I understand the turn-around time needed in a transformative public administration. President Buhari is being very deliberative and measured in his steps. After years of recklessness and free for all bazaars, it is understandable how a disciplined approach might be unsettling for some. But because I have been educated within and oriented to this kind of disciplined and accountable public administration culture in my work with state and township governments in the US, I find the approach familiar and even necessary.

    Can you do an appraisal on Buhari’s anti-corruption war ?

    I am not sure the President has laid out the specific thrusts of an “anti-corruption war.” What I see is that the sheer weight of his personality and reputation in matters of probity and disciplined service, has changed the climate in the country, especially in the public sector. He appears to have embarked first on plugging the leakages in the national boat. These plugs must be coded in the laws of the nation, which is a legacy he needs to bequeath. I believe this should be followed with the elimination of the water that had entered the boat. Prosecutors all over the world will tell you that because of limited resources, there is always selectivity and discretion in the pursuit of criminal elements in the society. The justice and law enforcement agencies of the nation under the PDP government were selective for national strategic reasons and I don’t expect the agencies to not to be selective (also for national strategic reasons) under the APC. The cry of selectivity is the last refuge of the accused and the mischievous. Whenever one is accused and he or she cries “selectivity,” he or she has essentially pleaded guilty, but just does not want to be singled out. The issue is not whether the efforts in establishing rectitude is selective; what matters is whether the results of the efforts move us closer to the desired accountability at all levels.

    Critics of the Buhari government believe that the President is beginning to let so much of Nigeria’s internal woes known to the international community. For instance, the President’s comments on Nigeria’s financial or liquidity profile seem to be annoying some of his critics. What are your views?

    What would you say about the President’s war against insurgency since his assumption of Power?

    I see two types of insurgency in the country: Political insurgency and economic insurgency. Understanding the differences and relationships between the two will affect how the challenges are met. The first is a push or agitation for a share and/or control of the political space (or part of the space), and a definition of the character of that space and its ramifications. The second is a push or agitation for sharing and/o control of the economic resources of the nation and its environs without designs necessarily for redefining the political space. Negotiation is the best approach to reaching lasting solutions in the affairs of humans. Military conquests do not last, and they leave mayhem, destruction and bottled-up sentiments in their paths on all sides. Our own history in Nigeria teaches us this. That’s not to say that military action is never necessary. The uniting units in Nigeria must negotiate their co-existence. We know what those units are and they are not the artificial states that have been created. The negotiation will happen one way or another. And it will happen someday soon, not in the distant future. It will happen either by design on the conference table or by muddling through the trenches and foxholes that some folks have already dug. It would be a great moment in history if a former soldier who performed with excellence in the battle fields of the last war, leads Nigeria to a negotiated, peaceful, lasting, and prosperous commonwealth, with a constitution that is written by the people’s representatives. This is the stuff and hallmark of progressive politics. And this is the singular most important opportunity President Buhari has.

    What is your advice for the government on how to handle the rise of Biafran militancy in Igboland?

    Igbo land is Nigeria, just as Borno, Adamawa and others are Nigeria. So you are asking about the agitation for “Biafra” in Nigeria. None of the people you call militants has taken up arms against Nigeria to the best of my knowledge. None has assembled an army. None has acquired a base in a neighboring country from which it operates against the security and safety of Nigeria and Nigerians. So what you essentially have are speeches and nonviolent marches

    I come from the civil rights movement and traditions of African Americans. Just as in America’s history, it pains me to see deaths in peaceful protests and marches in Nigeria. I do not subscribe to a name (Biafra) that has little or no spiritual or cultural value to our journey as Ndi Igbo, a journey that dates back to creation and antiquity.

  • Ezeji vows to revamp Heartland

    Ezeji vows to revamp Heartland

    Heartland new signing, Victor Ezeji has told SportingLife that he would bring his experience to bear in the Naze Millionaires and would give over 200 percent commitment to ensure that the Owerri side achieved set objective before the end of the current league season.

    Ezeji who is in his 20th year sojourn in the Glo Premier League joined Heartland from Sunshine Stars and after he was unveiled by the Naze Millionaires yesterday in Owerri’s Dan Anyiam Stadium the former Dolphins and Sharks striker told SportingLife that he was more than honoured to play for Heartland.

    Ezeji revealed to SportingLife that having played for so long in the Glo Premier League he never hesitated after he got the greenlight from officials of Heartland to come join them and fulfil his dream of playing in his 20th season in the top flight.

    Earlier, the General Manager of Heartland, Prince Okechukwu Ibeh told SportingLife that the Scientific Soccer Boys were wowed by the antecedents of Ezeji and that having played in the elite division for 19 years, it was an easy decision allowing him to come to Heartland to get his 20th uninterrupted year as professional player.

    Heartland’s Team Manager, Promise Nwachukwu and chief coach, Bethel Orji also extolled the virtues of Ezeji and added that the Accounting graduate of University of Port Harcourt would be a good influence to the young players in the team.

    Ezeji has won the league highest goals scorer, the CAF Champions League, Premier League titles and a hosts of other titles in his illustrious career.

  • Agro exports need revamp to regain shine

    Amid increasing fears about food safety challenge affecting exports, the National Public Relations Officer of the National Cashew Association of Nigeria, Sotonye has called on the government to cut the contamination rate of agro export produce.

    This follows reports that international inspectors found samples in commodities which are high pesticide residues.

    According to him, the government needs to work with farmers’ organisations to find out where these products came from and take measures to tackle the situation.

    He said government agencies need to test samples of domestic and imported plant protection chemicals to ensure they meet safety standards.

    He urged the government to increase inspections and quarantines and test more samples of fruit and vegetables for the export market.

    Anga said improving the nation’s chances at the export markets will create an opportunity for a big revamp to the sector which is losing shine.

    He said exports of agro products are among the nation’s leading cash earners, but that the situation  could turn upside down bringing the sector’s export value if nothing is done to address the issue of contamination.

    Some agro produce exporters, he noted, would make more money, but added that many export products have failed to meet the quality and hygiene standards of their foreign markets.

    With European Union (EU) warning that many agricultural and food products  from the country violate food hygiene and safety standards, he urged operators to keep an eye on the contaminations in their exports.

    He said exporters would hurt themselves if they continued to do business in the old way, with old manners. He urged relevant agencies to implement measures to ensure food safety and hygiene, tracing the origin of foods of all kinds and focusing on essential farm produce.

    He urged that surveillance be tightened during production. He also urged that food production businesses be encouraged to meet international standards on food safety and hygiene such as ISO (International Organisation for Standardisation) and HACCP (Hazard Analysis Critical Control Points).

    He wants more to extend capacity on technical and phytosanitary barriers to international trade. He said some producers have encountered difficulties in accessing the European Union (EU) market.

    According to him, the government should redirect its strategies to boost international trade to include capacity building for producers, such as agronomists and farmers doing organic farming and addressing practices that hinder demand for indigeneous produce.

    Recently, stakeholders in the  industry called for the establishment of a Cashew Board, to boost foreign exchange earnings  and generate more jobs.

    They also appealed to the Federal Government to assist cashew farmers and processors through the provision of a special fund, to boost cashew production.  NCAN President, Mr Tola Fasheru, decried the high cost of processing a ton of cashew. He said it costs $500 to process one ton of cashew, while it costs about $250 in India and $217 in Vietnam.

    He said for the industry to compete favourably with others, the government should set up a special fund for the industry.

    According to him, the sustainability and competitiveness of the sector may be a mirage if the government did not assist cashew farmers and processors.

  • ‘There’s need to revamp agric sector’

    A sensitisation exercise tagged: “Revamping Agricultural Sector in Nigeria Through Aggressive Industrial Farm Park Project”, was held recently in Lagos, organised by the management of 1.2 Green Limited in partnerships with Chinese Government Export Credit.

    The exercise, according to the organisers, was organised to discuss ways in revamping the Agricultural sector through aggressive industrial farm park project.

    According to Mr Obada Votu, CEO 1.2 Green Ltd, expressing the company’s readiness and willingness to assist the government in resuscitating this crucial sector stated, “This crucial sector should not be neglected, but should be given the needed attention. Nigerian became a net importer of food and major importer of wheat, rice, sugar and fish. The importation of these four commodities, according to reports, consume over N1 trillion in foreign exchange every year since 2005.

    “The CBN report shows that Nigeria is the world largest importer of United States hard red and white winter wheat, with an annual food import of N635billion. Nigeria’s food imports are growing at an unsustainable rate of 11 per cent per annum, while reliance on the import of expensive food in the global market fuels domestic inflation, and Nigeria is importing what it can produce in abundance. And that import dependency is hurting Nigeria’s farmers, displacing local production and creating rising unemployment,” he added

    Stating further that, there is need for stakeholders to reduce the importation of these products that can be produced in Nigeria. “Nigeria spends N1 trillion annually to import rice, sugar, wheat and fish, translating to N10 trillion from 2005 till date.

    The Nation has vast arable land for cultivation, adding that this must be harnessed by stakeholders in order to effectively prevent food crisis considering the growing population and reduce imports to the barest minimum.

  • Cadbury Nigeria to revamp growth with four-point strategy

    Cadbury Nigeria to revamp growth with four-point strategy

    Cadbury Nigeria Plc, the Nigerian business of Mondelez International, one of the world’s largest snack companies, will focus on increasing its market share in the powdered drink and candy segments as part of four key strategic initiatives this year to revamp flagging growth and consolidate the gains of recent investments and breakthroughs.

    Chairman, Cadbury Nigeria Plc, Mr. Atedo Peterside, said the company would focus on four key strategic initiatives to realize its growth ambitions this year, after it took major hits in sales and profit in 2014.

    Peterside outlined that the company would concentrate efforts at increasing its market share in the powdered-drink and candy categories while investing in innovation and enhancement of its product portfolio.

    He added that the company would take further advantage of its route-to-market initiative as well as build a strong, sustainable business built on top talents.

    In address to shareholders of the company, Peterside, said Cadbury Nigeria posted overall strong performance in 2014 in view of operating and macroeconomic challenges.

    According to him, the immediate past business year was very challenging for companies in view of the country’s unstable foreign-exchange market, decline in oil revenue, high-input costs, fierce competition, insecurity in parts of the country, generally poor infrastructure and costly and unreliable power supply.

    He said the company was able to mitigate the impact of the tough operating environment by continuing to improve its operational efficiencies.

    “One of the major strengths of our company has been operational efficiency, as aligned with global best practices. Constant improvements in operational efficiency helped us to offset difficulties in the operating environment,” Peterside noted.

    Shareholders at the annual general meeting, which was presided over by Mr. Adedotun Sulaiman, a non-executive director who stood in for the chairman, approved distribution of N1.22 billion as cash dividends for the 2014 business year, representing a dividend per share of 65 kobo.

    Key extracts of the audited report and accounts for the year ended December 31, 2014 showed that sales dropped from N35.76 billion to N30.52 billion. Gross profit dropped from N13.10 billion to N7.93 billion. The company recorded pre and post tax profits of N1.47 billion and N1.51 billion respectively in 2014, representing net earnings per share of 75 kobo. Pre and post tax profits were N7.42 billion and N6.02 billion respectively in 2013.

    Roy Naaman, who resumed as managing director of Cadbury Nigeria on January 1, 2015, expected to help consolidate the company’s market share and tap into other expanding markets in West Africa.

    Cadbury Nigeria had stated that Naaman as a highly experienced brand professional would lead the snacks group’s expansion in West Africa and deliver consistent and strong profit to shareholders.

    “In Roy, we are very pleased to gain a highly experienced leader, with a strong track record in driving sustained and profitable growth. In his previous role, Roy was instrumental in spurring business expansion in southern Africa and the Caucasus. He is a most valuable addition to our company,” Romeo Lacerda, President, Markets, Eastern Europe, Middle East and Africa, Mondelçz International, said in a company statement.

    Naaman joins Mondelçz International from the Diplomat Group, a global distribution company representing leading brands. With a Bachelor of Arts in business, majoring in finance, Naaman has held a number of positions in the Diplomat Group in several countries, including Georgia, and most recently as a General Manager of its largest market.

    Mondelçz International, a global snacks powerhouse, holds 74.99 per cent equity stake in Cadbury Nigeria, the remaining 25.01 per cent shares are held by a diverse group of Nigerian individual and institutional investors.

    Cadbury Nigeria has a cocoa processing factory located in Ondo town, 275km from Lagos, with a capacity of 12,500tons per year, processing cocoa beans into a range of intermediate products including cocoa butter, cocoa liquor and cocoa powder for export and local customers.