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Tag: viable

  • ‘Every state is viable, can be competitive’

    ‘Every state is viable, can be competitive’

    The National Competitive Council of Nigeria (NCCN) has launched the maiden edition of its National Competitiveness Report and Sub-National Index, ranking the 36 states and the Federal Capital Territory (FCT) in key areas, including human capital, infrastructure, economy and institution. The overall report shows that Lagos came out tops, followed by Delta and Rivers states. Chika Mordi, CEO, NCCN in this interview with FRANCIS AMADI, looks at details of the report and its importance for improved governance.

    Having successfully launched this report after about two years of rigorous work, what is your excitement today?

    Well the excitement is that for the first time ever we have an index that measures the states in terms of how competitive they are. This is a combination of almost 20 months of hard work, sometimes with limited resources and we have got to where we are today and people could see where their states stand, which policies are working and which policies are not working, and this could help governance at the state level. This is particularly important because states play a key role in positive economic outcomes that affect their citizens, particularly in employment generation. Unemployment is connected to poverty and poverty reduction is primarily resolved by job creation and when you have competitive environment businesses prosper and create jobs.

    What will be your expectation from states and other stakeholders now that the result of the report is out?

    What we hope, and to be frank with you, we are not just waiting for reaction; we are going to go all out to engage them positively to improve on areas where they are challenged and to help them consolidate on the areas where they are doing well. It not advisory, it is very much of collaboration. We may see states ranked high being happy with the report and states ranked low being unhappy with it, but I must caution, it is important that they look at the total result, not just the aggregate ranking. They should look at the pillars and sub pillars so that they can be clearer how the ranking came about, so that they could use it as basis for improvement on what they are currently doing.

    Based on the outcome of the report, indicating that Lagos, Delta and some other states have done well, what lessons can be drawn from their performance?

    I have said this before, we have to be careful when we say a particular state has done well aggregate wise. It is important that you understand where they have done well because there is something to learn from every state because we have about more than 26 pillars on which they are measured and within that, there are other micro businesses. But, specifically, Lagos has done very well in terms of internally generated revenue which has helped government financing, brought stability and made the state more robust. They also have had a natural resource advantage of having two sea ports and an International Airport, and the legacy of an industrial base and wealthy large population. Also the state has been deliberate in business interventions, so there are some positives that come from that. Lagos also has the Corporate Affairs Commission office, which makes business registration a lot easier, and not every state is afforded that advantage. However, I can’t remember precisely, but it must be noted that every state in Nigeria is viable because the ultimate resource of wealth creation is the people and they all have them in abundance. If you search very well, there is natural resource in every state that could give them competitive advantage, and it’s just about identifying them, having policies that allow businesses explore those advantages and by so doing create jobs and reduce poverty. These will create revenue for government and help project execution. But if you base your income from allocation at the centre, that is federal allocation, then, competitiveness will not come.

    In most of the rankings, Enugu came around top five and I will be wondering how this has become possible given that Enugu is predominantly a civil service state. Virtually all the industries inherited from the old South Eastern Region being the then capital are all gone. How would you defend this report before critics?

    Look, everyone has his or her opinion and is even better to have an opinion if it’s informed. However, our methodology is very clear and we have stated it clearly for everybody to see. The weight we attach to each of the pillars, our survey on how we got our primary data and secondary data are clear. The way we analysed the results are also very clear, we did a lot of cost valuation, our results are replicable, so people can test our methodology.  Given all that, what should be asked about Enugu is, which pillars did they score high and which pillars did they not score high? And if you look at the pillars you will see that very clearly. So for example, when you talk about transportation, there is an airport in Enugu. It was the capital of the old South Eastern Region, there are legacy connectivities that exist and these are considered when it comes to transportation. Also look at the human capital pillar; here you look at the level of education, number of schools. That is very clear. If you look at the gender representation, which is the number of female participation in state activities, that is clear. If you look at health, in terms of infant mortality rate that is also clear, number of hospitals when compared to other states of the federation. When you also look at their finance, how leveraged they are, how much revenue they generate, fiscal discipline and all that. There are so many other considerations. We are very confident of the report we have for each state. Every state has their own strength, in some areas they did well and in other areas they lagged. And on aggregate for the country, we are not doing well. So if you look at national competitiveness as country, we are weak. Coming first is good, but as a country we have problem with our competitiveness. So this is a relative exercise, it’s not absolute. It’s still challenged.

    This is the first of its kind we are having this report, how often are we going to be seeing it?

    This is going to be an annual report. We expect subsequent actuarial to be even better because you learn from every experience. There are things we would have loved to do that we couldn’t  do, there are some things that were constrained, there are things you simply can’t do. So, in statistics, history matters a lot because you can draw trends. There was nothing to draw from the first exercise because it was the first, but in subsequent ones, we expect that there will be historical data from index and off-index to draw from.

    The National Competitiveness Council of Nigeria and reason behind the  report.

    The National Competitiveness Council of Nigeria (NCCN), is a public-private sector partnership that aims to boost Nigeria’s business competitiveness and ability to attract local and international investment. This report has become crucial for Nigeria’s government and private sector to engage in developing a clear competitiveness agenda and implementing vibrant competition strategies centered on creating the appropriate business environment with the aim of boosting collective prosperity in Nigeria. Over last 20 months, NCCN working with the World Bank, UK’s Department for International Development (DFID), Michael Porter Institute for Strategy and Competitiveness and the Mexican Institute for Competitiveness with sponsorship from Ford Foundation and support from Tony Elumelu Foundation have worked hard to develop the report which is expected will spur policy adoption and global best practice. What we did was to set parameters for assessing the competitiveness of the 36 states of the federation including the Federal Capital Territory, Abuja, and based on those parameters that have pillars and sub-pillars around macro-economics, human capital, infrastructure, trade, settlement and enforcement, we came out with these reports.

  • ‘Every state is viable and can be competitive’

    ‘Every state is viable and can be competitive’

    The National Competitive Council of Nigeria (NCCN) recently launched the maiden edition of its National Competitiveness Report and Sub-National Index, ranking the 36 states and the Federal Capital Territory across key areas, including Human Capital, Infrastructure, Economy and Institutions, with overall report showing that Lagos came out tops, followed by Delta and River states. Chika Mordi, CEO, NCCN in this interview with FRANCIS AMADI, looks at details of the report and its importance for improved governance.

    HAVING successfully launched this report after about two years of rigorous work, what is your excitement today?

    Well, the excitement is that for the first time ever we have an index that measures the states in terms of how competitive they are. This is a combination of almost 20 months of hard work, sometimes with limited resources and we have got to where we are today and people could see where their states stand, which policies are working and which policies are not working, and this could help governance at the state level. This is particularly important because states play a key role in positive economic outcomes that affect their citizens, particularly in employment generation. Unemployment is connected to poverty and poverty reduction is primarily resolved by job creation and when you have competitive environment businesses prosper and create jobs.

    What will be your expectation from states and other stakeholders now that the result of the report is out?

    What we hope, and to be frank with you, we are not just waiting for reaction; we are going to go all out to engage them positively to improve on areas where they are challenged and to help them consolidate on the areas where they are doing well. It not advisory, it is very much of collaboration. We may see states ranked high being happy with the report and states ranked low being unhappy with it, but I must caution, it is important that they look at the total result, not just the aggregate ranking. They should look at the pillars and sub pillars so that they can be clearer how the ranking came about, so that they could use it as basis for improvement on what they are currently doing.

    Based on the outcome of the report, indicating that Lagos, Delta and some other states have done well, what lessons can be drawn from their performance?

    I have said this before, we have to be careful when we say a particular state has done well aggregate wise. It is important that you understand where they have done well because there is something to learn from every state because we have about more than 26 pillars on which they are measured and within that, there are other micro businesses. But, specifically, Lagos has done very well in terms of internally generated revenue which has helped government financing, brought stability and made the state more robust. They also have had a natural resource advantage of having two sea ports and an International Airport, and the legacy of an industrial base and wealthy large population. Also the state has been deliberate in business interventions, so there are some positives that come from that. Lagos also has the Corporate Affairs Commission office, which makes business registration a lot easier, and not every state is afforded that advantage. However, I can’t remember precisely, but it must be noted that every state in Nigeria is viable because the ultimate resource of wealth creation is the people and they all have them in abundance. If you search very well, there is natural resource in every state that could give them competitive advantage, and it’s just about identifying them, having policies that allow businesses explore those advantages and by so doing create jobs and reduce poverty. These will create revenue for government and help project execution. But if you base your income from allocation at the centre, that is federal allocation, then, competitiveness will not come.

    In most of the rankings, Enugu came around top five and I will be wondering how this has become possible given that Enugu is predominantly a civil service state. Virtually all the industries inherited from the old South Eastern Region being the then capital are all gone. How would you defend this report before critics?

    Look, everyone has his or her opinion and is even better to have an opinion if it’s informed. However, our methodology is very clear and we have stated it clearly for everybody to see. The weight we attach to each of the pillars, our survey on how we got our primary data and secondary data are clear. The way we analysed the results are also very clear, we did a lot of cost valuation, our results are replicable, so people can test our methodology.  Given all that, what should be asked about Enugu is, which pillars did they score high and which pillars did they not score high? And if you look at the pillars you will see that very clearly. So for example, when you talk about transportation, there is an airport in Enugu. It was the capital of the old South Eastern Region, there are legacy connectivities that exist and these are considered when it comes to transportation. Also look at the human capital pillar; here you look at the level of education, number of schools. That is very clear. If you look at the gender representation, which is the number of female participation in state activities, that is clear. If you look at health, in terms of infant mortality rate that is also clear, number of hospitals when compared to other states of the federation. When you also look at their finance, how leveraged they are, how much revenue they generate, fiscal discipline and all that. There are so many other considerations. We are very confident of the report we have for each state. Every state has their own strength, in some areas they did well and in other areas they lagged. And on aggregate for the country, we are not doing well. So if you look at national competitiveness as country, we are weak. Coming first is good, but as a country we have problem with our competitiveness. So this is a relative exercise, it’s not absolute. It’s still challenged.

    This is the first time we are having this kind of report, how often are we going to be seeing it?

    This is going to be an annual report. We expect subsequent actuarial to be even better because you learn from every experience. There are things we would have loved to do that we couldn’t  do, there are some things that were constrained, there are things you simply can’t do. So, in statistics, history matters a lot because you can draw trends. There was nothing to draw from the first exercise because it was the first, but in subsequent ones, we expect that there will be historical data from index and off-index to draw from.

    The National Competitiveness Council of Nigeria and reason behind the  report.

    The National Competitiveness Council of Nigeria (NCCN), is a public-private sector partnership that aims to boost Nigeria’s business competitiveness and ability to attract local and international investment. This report has become crucial for Nigeria’s government and private sector to engage in developing a clear competitiveness agenda and implementing vibrant competition strategies centered on creating the appropriate business environment with the aim of boosting collective prosperity in Nigeria. Over last 20 months, NCCN working with the World Bank, UK’s Department for International Development (DFID), Michael Porter Institute for Strategy and Competitiveness and the Mexican Institute for Competitiveness with sponsorship from Ford Foundation and support from Tony Elumelu Foundation have worked hard to develop the report which is expected will spur policy adoption and global best practice. What we did was to set parameters for assessing the competitiveness of the 36 states of the federation including the Federal Capital Territory, Abuja, and based on those parameters that have pillars and sub-pillars around macro-economics, human capital, infrastructure, trade, settlement and enforcement, we came out with these reports.

     

  • ‘Nigeria needs viable debt market for sustainable growth’

    nigeria needs to encourage the development of a robust and viable debt capital market in order to secure a sustainable domestic pool of capital that could support national growth and development.

    This was the consensus of stakeholders at the 2017 Nigerian Debt Capital Markets Conference & Awards organised by the FMDQ OTC Securities Exchange in Lagos. The event, which brought together subject matter experts with varying focuses and interests in the Nigerian and global financial markets space, provided a platform to deliberate on strategies and other pre-requisites needed to position the Nigerian debt capital markets to support sustainable economic growth and development.

    Vice President, Federal Republic of Nigeria, Professor Yemi Osinbajo, who was represented by the Director General, Debt Management Office, Ms. Pat Oniha said the government knows the importance of the debt capital market to its overall economic recovery and growth plan.

    He said the government would continue to support the development of the Nigerian capital market.

    He urged all stakeholders to support the Federal Government’s diversification efforts by showing greater commitment from the private sector to complement the government’s efforts especially in the area of infrastructure development.

    Minister of Finance, Mrs. Kemi Adeosun, who gave a special address, recognised the opportunities inherent in the debt capital market and assured the participants that the Federal Government was taking bold steps towards putting the necessary reforms to support private sector-led growth, even as the country exits recession.

    Director General, Securities and Exchange Commission (SEC), Mr. Mounir Gwarzo, underscored the growing relevance of the debt capital market to the much-desired turnaround of the Nigerian economy.

    Gwarzo, who was represented by Director, Investment Management, SEC, Ms Mary Uduk, provided an overview of the recent milestones achieved in the Nigerian debt capital market.

    He pointed out that the Nigerian Economic Recovery and Growth Plan underscores the role of the private sector in leading the growth that Nigeria desires.

    “To sustainably develop Nigeria, reliance must be shifted from ‘owners’ capital’ and short-term funding from commercial banks to long-term capital from the debt capital market,” Gwarzo said.

    Vice President and Treasurer, International Finance Corporation (IFC), Mr. Jingdong Hua, noted that for Africa to meet and maximise its potential in the global financial markets space, Nigeria must be one of its greatest engines.

    He called on the government to create an enabling environment to support the debt capital market and also promote financial markets education for capacity building of market participants, and the general public.

  • ‘Ekiti can be a viable state’

    ‘Ekiti can be a viable state’

    A lawyer, Mr Ishola Fapounda, believes Ekiti State has the economic potential that can make it self-sufficient and less dependent on the federal allocation. The governorship aspirant says the Fountain of Knowledge can bounce back, if the people elect a good leader in next year’s election. In this interview with Assistant Editor LEKE SALAUDEEN, he unfolds his plan for the state.

    governorship aspirant on the platform of the All Progressives Congress in Ekiti State, Mr Ishola Fapounda, is not disturbed by the crowd of aspirants jostling for the party’s ticket. To him, what matters most is the neutrality of the umpire. According to him, once the party can create a level playing ground and the process is transparent, whoever wins the primary among the 49 aspirants that have shown interest so far will be accepted by the losers.

    Fapounda believes the programmes presented by the contestants will determine the winner. He is confident that he would come out victorious at the primary because “I am very much accepted by the party and the people. I have worked with them and have been able to buy their confidence over the years. I am working very hard for the APC ticket. Very soon, we shall separate the wheat from chaffs.

    Despite the fact that the South Senatorial District where he comes has not produced governor since Ekiti State was created, the Oke-Mesi born lawyer does not support reserving the APC ticket for a particular zone. He said it should be thrown open so that the best person that will take Ekiti to the next level will emerge.

    He argued that in the last governorship primary, aspirants from Ekiti South contested. “If governorship is being rotated among the towns and communities in Ekiti, it would take a long time for Isan where former Governor Kayode Fayemi comes from to produce a governor. Fayemi won the primary because he was a grass root politician. I appeal to aspirants from all senatorial districts to come out and take part in the primary. We want a person that will take Ekiti to the next level as governor in 2019.

    Fapounda premised his programme on three planks: diversification of the economy, partnering with private sector and building efficient institutions. He said if he wins the shadow election and eventually elected governor, he would turn around the economy of the state and broaden its revenue base and make the state less dependent on the monthly federal allocation. According to him, “you can’t create economic activities when you rely on Abuja to pay staff salaries”.

    The aspirant added: “What Ekiti needs is diversification of its economy. The state is endowed with mineral resources. We will pick one or two of them and see how we can turn them into revenue generation venture. For instance, Ekiti has raw materials for production of tiles. We will create enabling environment for entrepreneurs to come and invest in tiles industry. It is good to partner with larger states just as Lagos is doing with Kebbi State in the production of rice”.

    He said his administration will engage tax consultants on how to increase the state revenue base through tax collection. “Proper taxation will make Ekiti to be self-sufficient.We have seen how the Fayemi administration spent money to bring back moribund industries in the state; we will follow this path and create new industries to expand the economy. We will encourage Ekiti people to come and invest in their state because we believe economic development should come from within”.

    Fapounda promised to develop agricultural potentials of Ekiti as the late Chief Obafemi Awolowo did in the old Western Region when agriculture was the mainstay of the region’s economy. “What we have in Ekiti now is subsistence farming. The farming method is not attractive to the army of unemployed youths who could have taken to farming. If elected, my government will create enabling environment and make farming attractive not to only the youths but every individual that are willing to go into farming”.

    He promised to strengthen institutions. To him, the political and economic institutions in the state are very weak. He said: “Ekiti is part of Nigeria. There is need to re-set Ekiti  in order to re-set Nigeria. Ekiti can lead Lagos if we get it right. Ekiti is a state that has produced more professors than any other state in the country. If it is a state known for knowledge why are the professors struggling with inefficiency.”

    He observed that thousands of Ekiti children write West African Examination Council (WAEC) and National Examnation Council (NECO) exams every year but very few of them gain admission to universities. It will be difficult to replenish the depleting number of professors. He believes “Ekiti can become leadership training centre for the country like California that is the breeding pool for the United States. He said Ekiti can perform the same role if we build confidence in our children by making learning environment conducive. Just like the new President of France, Mr Emmanuel Macron has promised to put the system in place, I will over haul the educational system in the state for better performance. I know if you give Ekiti children little opportunity they will excel beyond expectation”

    On the chances of the APC in 2018, with the array of aspirants, Fapounda’s immediate response is that “APC will beat PDP in the next election”. He added: “I don’t see PDP winning election in Ekiti come 2019. The era of incompetence can’t continue. Fayemi’s achievements are unequalled. You can fool people for some time you can’t fool them all the time.”

    Fapounda’s interest in politics started as far back as 1979. He was 11 years old then. He monitored and analysed the 1979 presidential election to the elders in Oshodi, Lagos State, where he grew up. He did all these because of the love he had for the late ChiefAwolowo, who was the presidential candidate of the defunct Unity Party of Nigeria (UPN). But his proper participation in politics started in 1999 when he joined the Alliance for Democracy (AD). He has never deviated from the path of AD even when the party metamorphosed to Action Congress of Nigeria (ACN) and now APC.

    He contested for Ekiti West House of Assembly seat in 2003 on the platform of the AD and lost.  Despite losing the election, Fapounda has not looked back since then. To him, politics is not a vocation. Anyone in politics without a profession is a political jobber. He said he’s in politics to serve and make positive impact on the living standard of the people. That explains his penchant for political office through which he would actualise his dream.

  • Ekiti-gate as a viable option

    SIR: A lot has been said about the recent interview given by former Ekiti State Governor and now Minister of Solid Minerals, Dr. Kayode Fayemi, where he pointedly referred to the 2014 election and the associated Ekiti-gate scandal as “unfinished business”.

    Mr. Ayo Fayose, the sitting Governor has been at his loquacious best attacking whatever possibilities Ekiti-gate might be pregnant with, obviously out of fear of the worst. Confessions made by former Minister Musiliu Obanikoro and revelations from Dr. T. K. O. Aluko, PDP State Secretary, no doubt added more to the adverse possibilities the current Ekiti State government may still face.

    It is ironical to observe that while the PDP camp in Ekiti is mortally fretting over this possible adverse outcome a diligent pursuit of Ekiti-gate to its logical conclusion could bring on them, there are some doubting Thomases within APC who continue to insist on knowing the possible path to a beneficial outcome.

    Yet, clear path or not, pursuit of Ekiti-gate to its logical conclusion is a political and ethical imperative, not just for APC, but for all of us in Ekiti as far as our values are concerned. For the sake of our collective future and in defense of those values, we need to get to the bottom of the electoral “abracadabra” that produced the heist that occurred in Ekiti in 2014. It went beyond the ordinary. The pursuit of Ekiti-gate should not just be a matter for Fayemi alone. It is a matter that should receive the attention and support of all of us.

    As at now, Ekiti is badly represented and portrayed to the outside world. All our predictions of a Fayose governorship have come to pass – insecurity, unattractiveness to outside investors, debasement of our Ekiti values and heritage, upstage of civility and ethics by brigandage in our engagements and interactions, promotion of pettiness as a critical tool of governance, more importantly, absence of any coherent plan for the future of Ekiti. Ekiti needs to be rescued from the present calamity it has fallen into.

    We must move to change the orientation of our people now getting locked in existential consumerism to an investment driven mind set. Stomach infrastructure is a concept rooted in desperation and mental enslavement which must not be allowed to become the aspirational primer of our people. Now, if Ekiti-gate offers a path to restore the fading sanity in Ekiti, so be it.

    There is good news here. It is that the progressive leaders in Ekiti are united on the viability of Ekiti-gate as an option which should not be foreclosed just like that. Others who are weary of the possibilities of Ekiti-gate outcome often like to quote eminent jurist Oputa about the infallibility or otherwise and the finality of Supreme Court rulings.

    Well, some of us hold the view that finality of Supreme Court rulings can really not be encased in an impenetrable fortress especially in light of new evidence and if the matter borders on criminality. We shall soon find out hopefully. One thing is certain and compelling; we progressive elements in Ekiti State must get our act together and join hands, without rancor, to effect a change in government. It will really not matter whether it is done by way of Ekiti-gate, or in 2018 by the normal electoral cycle. Just get the bully currently sitting on the throne out and bring sanity and good governance back to Ekiti.

     

    • Ben Oguntuase,

    Lagos.

  • Phone import remains viable alternative, says Slot chief

    Phone import remains viable alternative, says Slot chief

    Despite its huge cost in depleting foreign exchange and encouraging capital flight, importation of mobile phones remains the only viable and sustainable alternative, the Chief Executive Officer, Slot Systems Limited, Nnamdi Ezeigbo, has said.

    Speaking on the sideline with The Nation at the prize presentation to winners of the firm’s customers in Lagos, he said the crippling power problem in the country remained one major obstacle to domestic assemblage of mobile phones and their accessories.

    According to him, though importation of mobile phones into is huge, it is not the best as it is helping to create jobs and growing the economies of the countries, noting that the practice will continue till the Federal Government is able to address the huge gap infrastructure gap in the country.

    He said: “Backward integration is good for us because engineering is our core of competence but we are so constrained by the infrastructure deficit in the country. Power is a critical national infrastructure required to set the country on the path of industrial revolution but we are not there yet.

    “However, with the successful completion of the privatisation process by the government of President Goodluck Jonathan, we are hopeful that the new investors will bring in the requisite expertise and capital to turn the sector around. It is only when the power problem is fixed that other things such as citing mobile phone assembly plant in the country would be addressed. “

    Speaking on how to streamline the mobile phones sales market against the backdrop of grey imports that deprive the Federal Government of revenue, he said the market is ‘fragmented,’ adding that marketers bring in products from various parts of the world and sell in the market.

    Speaking on the promo, he said it is the firm’s unique way of giving back to its loyal customers, adding that this year’s edition is remarkable because it also marked the anniversary of the 15th year of its operation in the country.

    “We are also celebrating our 15 years of doing business in Nigeria, being able to weather the storm, take the risks and grow a brand that is built on solid ethical principles. And we are glad to say that the Slot experience is proof of the fact that good things can grow on the Nigerian soil,” Ezeigbo said.