Tag: survive

  • How to survive digital disruptions, by expert

    Leading global professional services firm Accenture has identified keeping up with the changes in digital technology as a major challenge to banking.

    It added that consumer expectations and government regulations are other challenges.

    Accenture Nigeria’s Managing Director, Financial Services, Toluleke Adenmosun, who spoke in Lagos about the opening of entries for Accenture Innovation Index 2018, said the organisation had received  many requests from banks, asking for assistance on innovation.

    She said with a rapidly-evolving ecosystem, banks must make innovation a part of their culture and rotate to the new.

    She said: “The banking industry is evolving right now, requiring banks to navigate through significant challenges to not only maintain their profitability but to also increase their revenue and meet the customers’ dynamic demands.  The topic of “Innovation” is a critical discussion among the Banking C-Suites, as banks are being pushed to think about innovation in new ways that were unimaginable just a decade ago.

    “We believe, the biggest challenge banking in Nigeria is facing is keeping up with the changes in digital technology, consumer expectations and government regulations. Accenture has received a significant number of requests from banks asking for greater insight and assistance on innovation in the first few months of 2016. And with a rapidly evolving ecosystem, banks must make innovation a part of their culture and rotate to the new.”

    Accenture said the rapid changes in the world are increasingly rewarding those who are innovating. Adoption of new ways of doing things is driving growth in companies, expanding opportunities in economies and increasing the quality of life in nations that embrace it.

    The outliers in innovation and those who are improving their position have some things common – they bolster their innovation capacities through positive-sum policies such as investments in Research & Development, education, tax incentives for innovation that contribute positively to the global body of knowledge and stock of innovation.

    In partnership with the Lagos Business School and select C-Suites from tier one companies, who are judges in the process, Accenture applies best practice research approaches to provide a confidential customised innovation diagnostic report that identifies each participant’s innovation strengths and weaknesses; benchmarks their innovation within their industries; and presents strategies that may help them gain competitive advantage.

    The Accenture Innovation Index 2018 will survey about 100 firms in banking and Fintech industries – including interacting with the captian of industry.

    This year’s index will focus on banking and the Fintech industry that is driving an increasing number of solutions to customers in the financial services space.

    The firm said as companies in this space are pressured to innovative and create new products and services, their impact is shaping people’s lives and contributing to the improvement of living standards in the country. In subsequent editions other industries and their impact will be indexed to give an even broader view of the various industries strengths and the nation’s most advantageous attributes.

  • ‘Preterm baby can survive’

    A preterm baby, otherwise known as premature, need not die as there are survival strategies care-givers, including parents, can adopt. OYEYEMI GBENGA-MUSTAPHA was at a stakeholders’ roundtable meeting for care of preterm in Lagos.

    Premature births occur before the start of the 37th week of pregnancy. Normal gestation period for a pregnancy is usually about 40 weeks. But in a premature birth, the baby doesn’t develop fully in the womb. The question, therefore, is can this child survive without complications, and equally live a normal life? Yes, it is possible for the child to survive and live a normal life.

    According to the founder, Abiye Maternal and Child Health International Foundation (AMCH), Dr Elizabeth Disu, the first step is to train the health workforce on what to do, and what not to do with a preterm baby. AMCH, a non governmental organsation (NGO), organised a training in collaboration with the Lagos State Ministry of Health on this.

    To Disu, since 2003, the March of Dimes, another organisation, has always led Prematurity Awareness Month activities in November as part of its Prematurity Campaign. The goals of the campaign are to reduce premature birth rates and raise awareness on how serious and costly the problem is.

    The March of Dimes, a leading nonprofit organisation for pregnancy and baby health, is leading the way in finding solutions to the problems that threaten babies.

    According to Dr Disu, one in eight babies is born prematurely and millions of these children face serious health challenges or have trouble learning in school because they were born too soon, adding that the best of care can’t always spare a premature baby from lasting disabilities.

    Premature birth, she said, is the leading cause of newborn death, which has made AMCH to engage in the retraining of trainers and other stakeholders in a one day roundtable meeting on care of preterm in Lagos.

    She said although there is a reduction in the death of preterm across the country because of Kangaroo care and availability of apparatus to manage them, “yet we still have a long way to go in the management of preterms, so they will no longer add a significant figure to child mortality rate”.

    Abiye Maternal and Child Health International Foundation, she said, is a non-profit, non-governmental organisation with the aim of providing up to date evidence-based life-saving knowledge and skill to frontline health workers in communities across Nigeria.

    “Preterm birth is one of the most common causes of newborn deaths in Nigeria. Nigeria has the highest number of newborn and preterm deaths in Africa. So, this year, going by the theme: ‘Helping preterm infants survive and thrive’, AMCH is evaluating performances in the management of preterm for optimal survival,” said Dr Disu.

    The workshop emphasis, according to her, is on care of the normal preterm, feeding a low birth weight babies, Kangaroo mother care and management of fluids and electrolytes.

    Head, Maternal and Paternal Dealth Surveillance and Response Unit, Victoria Omoera said government was doing all it could to ensure reduction of preterm babies in the state. “We need to support the programme, we want our mother and children to survive and that is why we are here to support the programme. We need to build up the capacity in term of personnel to take care of these babies.

    “Dr Omoera, who represented the Commissioner of Health, Dr Jide Idris said: “Every child deserves to live. Preterm deaths constitute a large chunk of percentage in child mortality in the state. And that is why the state is halting that trend. Once we are able to reduce the rate of deaths of preterm babies, the child mortality rate in the state will equally be reduced.”

    She added: “And premature birth is the leading cause of newborn death in the Lagos.  Prematurity is  a complicated and difficult public health problem. Like heart disease, diabetes or cancer, it will take many years to achieve significant impact, but there has been and will be progress along the way.

    “Since 2003, the March of Dimes has led Prematurity Awareness Month activities in November as part of its Prematurity Campaign. The goals of the campaign are to reduce rates of premature birth in the state and raise awareness, nay reduction of this very serious and costly problem.”

     

  • For Nigeria to survive

    For Nigeria to survive

    SIR: In 1965, two years after the official confederation of Malaysia and Singapore, Singapore was expelled from the Federation of Malaysia. It marked the beginning of a sovereign independent Singapore nation.  The independence will later give the country the requisite stability and set it on the path of unprecedented socio-economic development the world would also witness.

    Singapore, a third world country in 1965, is today the third-largest foreign exchange market, third-largest financial centre, third-largest oil refining and trading centre, the second-busiest container port, third  highest GDP per capital,  fifth  on the UN Human Capital Development index, and 11th largest foreign reserve.  Singapore’s amazing development in 51 years has not only made the country leave her contemporaries in Asia and Africa like Nigeria in the league of third world countries, but has amused the world with phenomenal economic feats.

    The existence of a sovereign confederated state is, but not limited to, the continued unification of the encompassing entities under some set of coerced geo-political morphology or stereotyped governance structure. Existence should entail social, political, economic and ideological development and impact. Ruminating on the prospect of Nigerian’s existence goes beyond foretelling the oneness of the country as a state but the prospect of achieving sustained and enviable developmental strides. Continuous existence of a state without prospective and tangible accomplishment, especially in the face of economic quagmire, secessionist agitations, and perceived nepotism, is tantamount to a huge social delusion which comes with colossal waste of unrecoverable time not to mention the natural and human resources expended in running such an entity: the cost of governance.

    I am a proponent of the unity of the 983,768km2 Nigerian space, and with strong optimism, I have canvassed for the oneness of this country.  But also, I have always posited not only for a critical review of the current geo-political status, but also a redefinition of our social-economic coexistence which some scholars have tagged restructuring.

    Nigeria’s political game players have trivialized this very important responsibility under the guise and frivolous reasons that it questions the oneness of Nigeria or because the idea is being propagated by political opposition, election losers or even secessionists.

    The reality that stares Nigeria in the face is that under this coerced status quo, we have not been able to point to any measurable and sustained growth not only in the fourth republic also  arguably since we adopt the self-imposed six geo-political formation.

    Decentralization as a stabilizing factor, accompanied by fiscal devolution, curtailing the bulk of resources from  residing in the centre and a general overhaul of our governance system all synchronized in the process of geo-political restructuring have at this point  become germane and long overdue for Nigeria to exist. These are not just the yearnings of election losers or perceived secessionists but are fundamental steps towards tactically harnessing the potential goods of our diversity.

     

    • Omotayo Akande,

    Osun State University, Osogbo.

  • Adams: Nigeria ‘ll survive

    Adams: Nigeria ‘ll survive

    The Aare Ona-Kakanfo-designate, Otunba Gani Adams, has said Nigeria will be stronger, if justice and fairness form the basis of its existence.

    Addressing members of the Yoruba Patriots Movement (YPM) and Yoruba Youths Council (YYC), who visited him at his residence in Lagos, said he would continue to stand for the unity of Yoruba without compromising principles.

    He explained that as the new Aare Ona-Kankanfo, a huge responsibility was placed on him, saying that it was a call to service the people.

    Adams added that it was a continuation of selflessness and sacrifice that had become his lot, to strengthen the position of the Yoruba nation.

    He urged the people to support him with suggestions and advices that would enhance the unity of the Yoruba people, stressing there was no person with monopoly of knowledge.

    He said: “We have lots to benefit from Yoruba land, but the only challenge we have is that we lack unity. I want to make it clear that one of my cardinal points in view of my position as the Aare Ona-Kankanfo is to unify the Yoruba race.

    “I thank God that the overwhelming supports and calls from well meaning Nigerians on my new position has been encouraging. It is a sign that we are going to blur the lines of disunity and make Yoruba take its rightful position in this entity called Nigeria.

    “I can assure you that I will not compromise the position of Yoruba race, no matter the pressure. I will continue to defend the cause of the Yoruba and the interest of Nigeria and its people. This is because no matter how you think of yourself, think of others.

    “For everything to work out well there must unity. I will continue to defend the cause of Yoruba and Nigeria on the basis of justice and fairness. No matter how you value your race, you need the cooperation of other races to grow and to transform into better beings,” he said.

    Speaking, the coordinator of YPM, Mr. Oladosu Oladipo, said Yoruba unity is not debatable, calling on all them to unite for the progress of the entire Southwest.

    He maintain that Adams was capable of providing a unifying platform to realize the oneness of the Yoruba race, noting that the Yorubas were one of the most sophisticated and knowledgeable people on the world stage.

    He said: “We are here to show our solidarity to the Aare Ona-Kankafo, Otunba Gani Adams and we pray that God give wisdom to do things that will promote the cause of Yoruba in the country.”

  • How to survive low oil price regime, by Shell chief

    How to survive low oil price regime, by Shell chief

    •Oil, gas still largely needed in future energy mix 

    In challenging periods in the oil gas industry such as currently being witnessed with prices remaining low for about three consecutive years, operators have to either find ways to substantially cut cost of operation to remain in business or sink.

    This was the advice given by the President /Director General & Country Chair, Shell Gabon, Osa Igiehon, to oil and gas industry operators. He spoke at one of the panel sessions at the just concluded 2017 annual conference of Society of Petroleum Engineers (SPE) Nigeria Council held in Lagos.

    Igiehon in his presentation entitled: Riding the waves of boom and bust: Common objectives, diverse perspectives, which is SPE’s 2017 theme, said the global oil industry has seen several booms and busts but noted that winners in such situations will be “those who can evolve and maintain structurally lower cost operations and projects.

    He said: “Historical oil price from inception, has shown a recurring cycle of boom and busts, which were driven by geopolitics, demand and supply balance and technological innovation. From 1980-2000s, we have seen boom and bust largely driven by geopolitics, demand/supply balance and technology.

    “Winners will be those who can evolve and maintain structurally lower cost operations and asset management, develop and invest in competitive capital investment and projects, supply chain improvements and process decomplexification and provide policies, operating environment and agreements to enable structurally lower costs,” he said.

    He also stated that there is need for increase in-country processing and value add, whilst driving for domestic energy security, therefore, industry stakeholders should “begin thinking energy, not just oil.””

    According to him, periods of high oil price regime record increased revenue and lead to more investments and new projects but noted that higher prices curb demand growth. Therefore, due to excess supply by producers that want to  optimise higher price benefits, prices crash and industry contracts, he added.

    During lower prices regime, although there is under-investment with major projects deferred or cancelled, it stimulates demand, he said.

    Igiehon, however, stated that global energy demand will likely be almost 60 per cent higher in 2060 than today, with two billion vehicles on the road as against 800 million today. Renewable energy, he said, could triple by 2050, but we will still need large amounts of oil and gas to provide the full range of energy products we need due to growing population.

    To him, there is more demand for energy globally as the world’s population and living standards increase, adding that global population will increase from around 7.4 billion today to nearly 10 billion by 2050, with 67 per cent living in cities.

    On environment, Igiehon said mitigating climate change through net-zero emissions is a potentially achievable societal ambition.

  • Glad to survive poisoned banana, thanks to Diatom

    ALMOST excluded sublingual Vitamin B2 from my diet last month after the second close encounter with fainting in about two weeks. The first spell occurred just after lunch in the office. Suddenly, I remembered that I had not taken sublingual Vitamin B2 which is a part of my dietary food supplement whenever my ophthalmologist spots cataract developing in the corner of the eye lens. This day, I felt too lazy to place the Vitamin tablet under the tongue and move it from one spot to another, as it is used, until it all dissolves and passes into the bloodstream from there. Rather, I swallowed it with water. In about five minutes, I felt a powerful wave of acid rise from one part of my stomach and rapidly spread. My eyes were closing on their own. My nerves were tremulous. My brain became foggy and light. I knew I was fainting. With the little consciousness and energy I had left, I summoned first aid to my aid. I opened the buttons of my top dress to obtain more fresh air, feebly massaged with fingers the dimples on both sides of my cheek near the eye level to get more blood to my head and then wrung my toes and ankles to boost energy flow up my trunk by improving metabolism. I told the women around me I was fainting. They sprang to their feet. Mrs Bukola Azeez, CEO of Budget Travels, got water. Mrs Rashida Kekereekun got milk and malt drink. Tolulope Christiana Arogundade was too frightened to remember that I had in my office some fresh jars of Activated Charcoal which helps immensely in food poisoning of this sort and similar situations of gastritis or ulcer pain or of troubles in the abdomen. In all my 67years, I have not experienced pain of this nature that was so acute, rapid, almost suffocating and killing within minutes. And quite naturally, when I was back on my feet, I immediately called the doctor who sold the Vitamin to me. He has a vast knowledge of nutritional medicine that I doff my hat for. I wanted to know if taking sublingual Vitamin B through the stomach and not from under the tongue could have such an impact as I experienced. He did not think so. Rather, he thought I would merely absorb less of it and that would be a waste of money. The stubborn person that I may be when it comes to experimenting with food supplements, I again took my sublingual Vitamin B2 through the stomach a few days later…and nothing happened. So, what could have gone wrong the last time? Whatever it was would come to light in about one week. I had just had a dinner of bananas about five days later when the answer popped up. The day before, I had thrown away the bananas I bought on the way home for dinner because I did not like the smell. This evening, the banana did not smell bad. But as soon as I ate the third or fourth one, that awful acid flood erupted again. I was alone in the house. I quickly opened the house door and the small entrance gate, just in case I would need help. I rushed to the kitchen for palm oil, holding my stomach and crying and struggling not to collapse. In the confusion, I did not know if it was palm oil I was smelling. I dropped the bottle so I did not take the wrong remedy. I couldn’t go upstairs for Activated Charcoal because I may fall on the stairway. Luckily I had a bottle of diatom in the sitting-room. I gulped about one or two tablespoons of this powder and then washed it down with water, more water…and more water still. The effect was like throwing surfing or bubbling detergent soap on a fire. My stomach began to cool off. I removed my top dress for fresh air, walked out of the house towards the nearest provision store, holding my stomach, in a search for palm oil, a poison antidote. (I learned of palm oil remedy from the survivors of Lake Nyos volcanic eruption in The Cameroon Mountain a few decades ago. Many people died of gas poisoning. Some of the survivors said they were drinking palm oil or honey as they were fleeing). But mid-way to this store, I experienced enough respite that encouraged me to return home so I did not get the neighbours talking. By this time, the time was about 9:30p.m.

    Carbonic Acid

    What I experienced was carbonic acid poisoning. The banana was force-ripened in a sack-load of bananas and carbide chips. In this manner, banana sellers get immature green bananas to soften and appear edible within 24hours of this treatment. Plantain sellers do it also. It gives them business and money everyday instead of about two or three times a week. I had heard so much about carbonic acid poisoning but had only just personally experienced it. It lands many people in hospital. It may damage the stomach or the intestine if the poisoned person does not receive help in good time.

    Automobile panel beaters place carbide in water to generate acetylene gas which they burn to weld metals. Carbide in the stomach reacts with water also to produce this gas and with hydrochloric acid to produce a more dangerous acid. In the sewage business, carbide is used to burn feaces in pit toilets or soak-aways. Its chemical name is Calcium Carbide.

    According to Dr. Liang Hai Sie, retired general internist, former intensive care physician:

    “Calcium carbide is extremely hazardous to the human body as it contains traces of arsenic and phosphorus. It is banned in many countries of the world, but it is freely used in India, Pakistan, Nepal and other countries. Thus, we are at risk of short term and long-term health effects simply by eating fruits that are induced to ripen. Calcium carbide (CaC2) is used to easily generate low levels of ethylene gas which can hasten the ripening of fruits like banana, mango et.c. Ethylene gas is only dangerous if inhaled greater than 33percent concentration, which we would find in after-use, but the contaminants arsenic and phosphorus hydride are the dangers to look out for.”

    Dr. Liang Hai Sei says the early symptoms of arsenic or phosphorus hydride poisoning may include “vomiting, diarrhoea, with or without blood, burning sensation of the chest and abdomen, thirst, weakness, difficulty in swallowing, irritations or burning in the eyes and skin, permanent eye damage, ulcers on the skin, irritation in the mouth, nose and throat. Throat sore, cough, wheezing and shortness of breath may also occur soon after exposure to the chemical. Higher exposure may cause a build up of fluids in the lungs”.

    The warnings continue: “Eating artificially ripened mangoes causes stomach upsets because the alkaline substance is an irritant that erodes the mucosal tissue in the stomach and disrupts intestinal function. Chronic exposure to the chemical could lead to peptic ulcer. As CaC2 initiates acetylene gas, it may affect the neurological system by inducing prolonged hypozia in the body.”

    Hypozia is a state of oxygen deficiency with many symptoms, including dizziness, tiredness and pain.

    Dr. Liang Hai Sei says that recently, carbide food poisoning has been related to “headache, dizziness, mood disturbances, sleepiness, mental convulsion, memory loss, cerebral oedema and seizure. Though eating the fruits would not bring about such an allergic reaction, the method of ripening could cause such problems”.

    In India, the calcium carbide is sold in sachets called MASALA. A sachet is placed in every carton of green mangoes to make them ripen within 24hours. Although a law bans the use of calcium carbide in the ripening of fruits, the practice is widespread underground. It will not be surprising if MASALA has found its way to Nigeria.

    In Nigeria, we eat all sorts of poisoned food, and this may be the reason all sorts of diseases are hitting heavily at the population. There is a particular monosodium glutamate (MSG), a taste enhancer, known to bleach coloured dresses to white which is a popular ingredient in canteen or restaurant food. Sometimes, I imagine if this may not be a cause of the growing number of eye problems in hospitals. For if this MSG can bleach clothes, will it not bleach delicate cells of the eyes as well? I do not trust even the corn sellers. Their trick is to pass on thier wares as “today’s” corn. They cook it with an arsenal of nails to soften it. They add saccharine, a suspected carcinogen,  to the water to sweeting the corn! Water melon is injected with a dye to make it reddish and appealing to the eye. Apples are waxed to make them solid for a long time. And unless you immerse them in boiling water to de-wax them, you’d be eating chemicals with the good, old apples. Poultry egg suffers the same fate. The feed of the chickens is loaded with dyes to give the yolk a super yellow colour. What of ground pepper? It is diluted with Colanut powder! And palm oil? It comes with reddish dyes! The only way out of this poisoned world, as I often suggest, is to keep an arsenal of antioxidants and detoxifyers at home for inclusion in the diet. I wonder what would have become of me last month if I did not have DIATOM and ACTIVATED CHARCOAL at home. To these should be added stuff such as CHLORELLA and WHEAT GRASS. And, of course, GERMAN CHAMOMILE which calms the nerves, as these poisons cause nerve damage. I shouldn’t forget to mention LION’S MANE MUSHROOM as well. It supports the brain to make Nerve Growth Hormone or Nerve Growth Factor which improves nerve energy and helps the repair of damaged nerves.

    sublingual B2

    If sublingual Vitamin B2 were personal, I would tender my unreserved apology for linking it to my first experience with calcium carbide poisoning last month.

    I learned about the importance of Vitamin B2 in the prevention and cure of cataracts of the eye lens about 1980 from Dr. Robert Atkins, now of blessed memory, one of the frontier-moving conventional doctors in the United States who paved the way for Alternative Medicine ingress in that country.

    In his VITA NUTRIENT SOLUTIONS, Dr. Atkins says: the amino acid Lysine slows damage of blood sugar to the eye lens which results in cataracts. He suggests that while beta carotene is good for vision, it is Lutein and Zeazanthin “are the dominant carotenoids that protect our eyes. They are concentrated especially in the macular, our true center of sight at the back of the retina. Because of their yellowish colour, Lutein and Zeazanthin are particularly adept at absorbing the damaging blue rays from the light spectrum. Lutein also seems to be better than beta carotene at heading off free radicals harm to fats inside the eyes. If consumed regularly from Kale, Collard greens, Spinach and other leafy green vegetables, the two carotenoids are unbeatable combination. Not only can they ward off cataracts, but they can also cut by 57percent the risks for macular degeneration, a deterioration of central vision that is responsible for about one-third of all new cases of blindness every year”.

    Apologies if I have drifted from Vitamin B2 (Riboflavin). Dr. Atkins was versatile. I read his book about 1980. It was only about 2000 onwards that many ophthalmologists began to let their patients take Lutein and Zeazanthin, abundant in Marigold flower (as shown last week for their vision).

    Dr. Atkins says Vitamin B2 (Riboflavin) is a “superstar player” on the B-complex roster”. He believes without B2, the B complex would not be a star food metabolizer, food and cell guards. It helps the conversion of Vitamin B6 to its active form. It supports the activation of glutathione, one of the body’s three basic antioxidants.

    He says Riboflavin and Glutathione are so related that glutathione’s levels are often measured by Riboflavin’s levels. Riboflavin is crucial in the “natural approach to preventing and beating cataract”. During a stroke or a heart attack, Riboflavin “limits the cell damage and minimises respiratory injuries from various toxins”. Even sickle cell anaemia “improves when Riboflavin which guards our red blood cells is included”. Iron absorption may be impaired, and the thyroid gland may be weakened by Riboflavin deficiency. Some studies, says Dr. Atkins, suggest that “a B2 deficiency increases the likelihood of depression and/or other mental health problems.”

    The Dr. Edward Group corroborates Dr. Atkins’s conclusions. In this group are doctors and researchers in prominent American universities and other institutions. It says, for example, that children and adults who obtain little or no Riboflavin in the diet tend to have more headaches and migraines. They quote the National Institute of Health as suggesting that “people who get more Riboflavin along with Niacin may have a lower risk of getting cataracts”. Iron absorption and red blood formation are promoted by Riboflavin.

    Dr. Axe, writing under the subject FOOD MEDICINE, lists some signs of Riboflavin deficiency as:

    “Signs of Vitamin B2 deficiency can include anaemia, fatigue, nerve damage, a sluggish metabolism, mouth or lip sores and cracks, skin inflammation and skin disorders especially around the nose and face, inflamed mouth and tongue, sore throat, swelling of mucus membranes, change in mood such as increased anxiety and sign of depression.”

    Dr. Atkins said in his days: “Most doctors know only the superficial sign of B2 deficiency, including cracks at the corners of the mouth and difficulty in adjusting to darkness and bright light. My suspicious arose when I find out that someone eats a diet high in carbohydrates. Wholegrains, it is true, are good sources of the nutrient, but refined flours, even if fortified, are not.

    I am happy I recognised in good time that my food poisoning was caused not by a Riboflavin supplement but by calcium carbide reacting with water in my stomach to form a more toxic acid and gas.

    The lesson in this for everyone ought to be that, everyday, our bodies are degraded by poisoned food, air and water, not to mention negative emotional responses to events around us. While our bodies may struggle to overcome these challenges, they do not succeed 100percent. We can aid them with daily intake of antioxidants and detoxifiers to hit the upper mark. We should remember that that left over or remainder is that “something that must kill a man someday”. That “something” may be accumulations of carbide or arsenic in the system.

     

  • Nigeria must export to survive

    Nigeria must export to survive

    The president of Federation of Agriculture Commodities of Nigeria (FACAN), Victor Iyama, in this interview with Bukola Aroloye about the plight of farmers, his view on recapitalisation of Bank of Agriculture and what government should do in the sector

    What is your view about the  recapitalisation of Bank of Agriculture; how effective has it been?

      They are still in the process and by the time they finish the reconstruction of the board and the recapitalisation it will surely benefit the stakeholders. They just constituted an interim board and we can’t start assessing them.

      How are the farmers been able to access money?

     Farmers generally still have problems with access to fund and you know  that all the intervention which would bring the interest quickly is not easy to access except of those who are sometimes lucky to be involved in contract farming. Before then, they were providing collaterals and all that to the principal. The issue of access to funding is still a problem. How many people can do anything meaningful without fund, even with prohibitive high interest regime? As far as I am concerned, I strongly believe until CBN starts changing policy in this country where the MRRA take over around 14.5% and where the central bank is selling  treasury bill at about 18.5% to twenty percent, how can people have access to fund to do anything meaningful? Because if I were bank myself why should I give out money even at 28%, take all the risk when I can easily jump into CBN in the name of treasury bill and be earning 18.5% to 20%?  We are not encouraging anything in this country. They are quick to compare with China and Japan.  In all these places, what is MRRA in Japan? What is MRRA in China? Look at all those countries and yet they will be talking of farming, small scale industry, even industrialisation. Take Nigeria back to the early 70s when we really had industrial growth, when we had Bata, Lennnard, and Dunlop when most of these were agric -based industry. Where are they today? But then MRRA in Nigeria is about 2% to 2.5% and lending rate about 7.5%, so take Nigeria back to those days and what it is now. No infrastructure.

      What are the things your federation is doing to make government and farmers get the policy of exporting foods outside, especially yams? Isn’t government going to be the sole beneficiary of the gains?

     Well, export generally is of benefit to everybody both individual and government. Even the countries we are on the same level are doing far better in export than us which would not have been so if they had followed what we have been preaching for years. But today, we are talking of oil. I remember in 2004, 2005, I made a representation telling them that it was time to develop the non oil sector especially agriculture, especially when we had excess crude money that they were flushing away. We suggested to them that they should put it back into agriculture. If they had done that, by now we would have become the next exporter of rice, fruits and vegetables.

    People have been shouting about yam and we are still the largest producer of yams in the world, but we could have multiplied our production by now. We must export to survive, because if we give oil five years or 10years it would be consequential. Land would never finish, especially our fertile land in Nigeria, as far as I am concerned, some people are saying how can we be exporting yam? More people will come into the business. As long as we have good infrastructure and all that to back it up. People keep talking, youths are not ready. Youths are now ready for farming because they now know there are no jobs. We have been preaching to them youth are ready, but they cannot do things like cocoa for now because it takes long time to grow, but crops like sweet potatoes, rice, beans, sorghum, cassava, vegetables, all these can also be taught in school. I am happy with what is happening in oil and gas now because our  government is begin to think and diversify and we need to go back to our real goldmine which.

     What more can the government do to get other stakeholders to make Agriculture the cornerstone of our economy?

    The government needs to involve the stakeholders in the bank which is a welcome decision and we are waiting for it. We know that before the end of their first tenure, they will ensure everything  will be done. I am looking at between now, January, February,  we would have seen the bank to have been fully restructured. And that is all we are waiting for because  we need a special bank to fund Agriculture. It is the bank the farmers will go to, and know that they can get money for 5%. Because in Japan they can get for 1%, in China they can get for 2% but we are not even looking at that  even in some cases in Japan they can even give you at 0%. as long as it is agriculture   Government also has to strengthen the insurance scheme in Agriculture too, because we really need it . If the insurance scheme is well strengthened, the farmers will not have to take their great grandfathers’ properties to use for collateral  before they can borrow money.

  • UNIDO: 20% SMEs manage to survive in Nigeria

    The United Nations Industrial Development Organisation’s Investment and Technology Promotion Office (UNIDO ITPO), Nigeria, has called for the formulation of affective strategies to address the high mortality rate of Small and Medium Enterprises (SMEs) in Nigeria. It stated that studies have shown that only 20 per cent of SMEs manage to survive in the country.

    Coordinator, ARCEIT Programme, UNIDO ITPO, Bahrain, Mr Afif Barhoumi, who spoke at the opening ceremony of a four-day training programme organised by UNIDO ITPO Nigeria for selected Federal Government agencies, stressed the need for continuous enterprise development and investment promotion to key stakeholders.

    “Although everybody in Nigeria desires to become an entrepreneur, only 40 per cent of the dreamers get to start, but no more than 20 per cent survive,” he said.

    He added that ministries, department and agencies (MDAs) needed to entrench enterprise development and investments promotion as a key strategy to end the scourge.

    “The training will also equip the SMEs with survival and growth skills needed to thrive and take advantage of investment and trade opportunities in local, regional and international business environments,” he noted.

    Head, UNIDO ITPO Nigeria, Mrs. Adebisi Olumodumu, said the need for capacity building of MDAs has become inevitable if the Federal Government wanted to play its role of supporting SMEs to grow.

    She said if adequately supported, SMEs would grow into big bussinesses and possibly conglomerates which products will compete with world-class products elsewhere in the world.

    “Nigeria used to be a mono-economy but when the fortune of oil waned, government decided to diversify the economy. Agriculture is a very viable source of economic diversification and we hope that Federal Government agencies will take advantage of the knowledge sharing afforded by this training,” she said.

    Managing Director, Nigeria Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL), Mr Aliyu Abbati Abdulhameed, said SMEs were the key drivers of success of the agricultural economy even with the private sector.

  • How to survive recession, by retailers

    How to survive recession, by retailers

    Against the backdrop of the lingering recession, most retail businesses have adopted ingenious means  to tackle the credit crunch taking a toll on businesses, reports TONIA ‘DIYAN. 

    There are growing concerns for the survival of many businesses, especially as the recession bites harder. For retail businesses, the concerns are just the same. However, for a retail merchant worth who knows his onions there’s a way out.

    Patience Agelibe, who runs a chain of small retail stores, has since devised ways of coping with the recession. Agelibe, mindful of the threat posed by the bullish big stores that have the wherewithdal to run their business, including giving away products at the cheapest rates, said efficient delivery of customer service was necessary to win new prospects and old customers.

    Similarly, Delightsome Stores Chief Executive Officer (CEO), Mrs. Modupe Shopeju, said: “It has to do with the strategy employed by the store, big or small.”

    She said: “Naturally, the retail climate favours big-box stores that can offer bargains. But because small retailers cannot win price wars, they need to leverage their biggest advantage over the chains. Small stores owners are aware that personal relationships with customers and the ability to deliver superior service remains one strategy that keeps businesses thriving. This strategy has been the secret of many successful retail business over the years.”

    As shoppers become more value focused, some are turning toward big-box retailers. Therefore, the small ones can bolster sales by targeting wealthier shoppers who are less price-sensitive and may pay premiums for better service. Upper-income households often perceive value in different ways from lower-income shoppers, Shopeju added.

    Independent retailers who are willing to survive the recession, experts have advised, need to court their best customers in the market they are targeting. Maximising the one-on-one relationships  with customers is also a major factor. And one way to do that, they said, is through affinity discounts that encourage loyal customers spend more, rather than trying to attract new business by cutting prices across the board.

    Going to customer base and mailing out to their best customers this they argue it’s a lot smarter than putting a 70 per cent off sign in front of one’s store.

    Experts also advised that through affinity programmes, retailers can strengthen their relationships with their best customers and appeal to those shoppers’ bargain-hunting at the same time. Beyond customer service, they said retailers should keep inventories lean to reduce costs  and be vigilant in refusing late orders as well as watching for over shipments to avoid having merchandise they would not be able to sell.

    In addition, small retailers can take a cue from large chains that display as much merchandise as possible on the floor, rather than holding inventory in the stockroom.

    Likewise, stores should watch their staff levels to control costs. They want to staff to the peak hours as much as they can. That means mostly in evenings and weekends, as most two-income families have little time to shop during the day. Businesses might decide to open later in the morning and extend hours at night to reach more customers without needing to staff more hours.

    Marketing companies are experimenting with new digital technologies to pitch to consumers while they shop. These include interactive dressing-room mirrors, kiosks with virtual customer-service representatives, shopping carts and digital scanners that offer personalised discounts.

    The experts also noted innovative ways for marketers to connect with customers as part of efforts to better understand what consumers buy and to encourage companies to rethink their approaches to their roles.

    However, for retailers grappling with lacklustre sales and consumers, who are dissatisfied with say online shopping with its related interactivity becoming mainstream, retail experts have advised retailers to continue to explore investment opportunities that can drive traffic to their outlets.

    They said there were strategies for retail businesses to survive in harsh economies, such as having a short-term tactical approach to improve performance and increase efficiencies that will drive sales, as well as medium to longer term strategic choices that will deliver sustainable and incremental growth.

    Location of the stores and product category are strategies which they think the retail giants always take into consideration.

    Citing Shoprite, they said the retailer has always been about the customers and has continued with its CSR initiatives and customer loyalty regardless of the recession.

    The proximity to any Shoprite store, they said, had made shopping  convenient for customers, noting that about 80 percent of the goods on the shelves are indigenous.

    Lending credence to the issue, the Business Development Manager of Chastest Consult, Ini Archibong, who is the Public Relations (PR) Consultant to Shoprite, noted that the monthly in-house and online competition in which lots of shopping voucher is given away among other loyalty programmes, are some of the time-tested principles that is working for the big retail stores like Shoprite.

    For the  Executive, Director Polo Luxury Group, Jennifer Obayuwana, despite the recession, excellent customer service remains a top priority at Polo Luxury.

    “Arguably, the recession is making shoppers of luxury goods look inward to what is available locally as shoppers save on flight fare. This is excellent for the Polo Luxury brand as it sticks to quality and authentic goods. Customers do not have to spend the extra travel fare, yet are accessible to the same quality of products and after-sales care they would have abroad at home.”

  • ‘Benue will survive without oil revenue’

    Benue State Governor, Samuel Ortom has said the state will in the nearest future not rely on oil revenue from the federations account.

    Governor Ortom dropped this hint through his Deputy, Engr. Benson Abounu when he treated Bill and Melinda Gate’s Foundation to a cocktail party in the New Banquet Hall, Benue People’s House.

    He affirmed that Benue farmers are not just capable of feeding Nigeria but the whole world.

    Ortom praised Bill and Melinda Gate’s Foundation for working for the benefits of the poor.

    “The President of the world is Bill Gate and the First Lady of the world is Melinda Gate”, Ortom insisted.

    ” This is because, it is one thing to have all the cash in the world and another to spray it to impact positively on the lives of the ordinary people. Bill and Melinda Gate’s Foundation is all over the world spreading wealth to the poor.

    “One of such activities is what we are witnessing in Benue today. We have the singular honour to welcome  in the state, the team leader of Bill and Melinda Gate’s Foundation.

    ” I am aware that your foundation has already started a Cassava Processing Industry in Benue.

    The Governor further explained that, agriculture will have no meaning if the state do not key into the value chain.

    “This administration has decided as a matter of policy to fund and promote agriculture in such a way that, we will truthfully be said to be FOOD BASKET OF THE NATION.

    ” Benue state in a short while from now will not have any business with oil revenue, Ortom concluded.

    Responding on behalf of the team, the foundation’s representative in Nigeria, Dr. Audu Gerima said the visit is to further deepen the partnership the foundation already has with the state. He stated that, Benue state is a pilot state for Bill and Melinda Gate’s foundation intervention in agricultural value chain.

    The guests were treated to Benue best dances and ditches.