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Showing posts from 2010

*POSITIONING DELTA STATE, NIGERIA FOR ECONOMIC GROWTH

BRAND DELTA: With relative peace, abundant resources and promises of infrastructure development, Delta state is an investor’s haven. However, to reach the desired economic El Dorado and to place the state in a good position to realize Vision 2020 as envisioned by the Federal Government, it has to do more, after all, it is only one of the many states in the country that seek improved business activities and investment. Like Delta State, other states are constantly on road shows, doing all they can to direct the lean foreign investment coming to Nigeria to their states. Moreover, as a consequence of militancy and youth restiveness, Delta State like most states in the Niger Delta has to do more to encourage investors. It has also become increasingly Herculean to lure local businesses to certain locations in the country, including Delta State. To this end, a lot of hard selling is required to move the state from where it is to where it should be. Place branding creates value for a city, re

AfDB on how Nigeria can achieve Vision 20-2020. Investors, take note!

Let’s hear it from the African Development Bank… AFRICAN Development Bank (AfDB) has affirmed that Nigeria’s achievement of Vision 20:2020 may remain a dream if challenges of infrastructure are not addressed early enough. Donald Kaberuka,President AfDB who spoke in Abuja recently said inter alia “I have carefully looked through the Vision 20:2020 programme, which will help Nigeria to become one of the top economies in the world, but to do so three things appear to be critical. 1. The resolution of the questions on large bottleneck in infrastructure, all forms of infrastructure including energy, mass transit systems, roads, IT among others. 2. That the economic growth in Nigeria reaches the majority of the population and the best way to do it is to increase agricultural productivity and support to the small and medium size enterprises”. 3. That the Federal Government continues to demonstrate fiscal discipline, especially in the management of oil revenue, national budget and ensuring so

The Changing Landscape of the Nigerian Oil and Gas Sector: The Local Content Law.

Taking the Federal Government of Nigeria by its words, it would no longer be business as usual in the oil and gas sector of the Nigerian economy as President Goodluck Jonathan inaugurates the governing council of the Local Content Development Board. This board has been given the responsibility to reposition the petroleum sector for the benefit of the nation, following the enactment of the Nigerian Local Content Law. Simply put, Local Content means the development of local skills, technology transfer, use of local manpower and local manufacturing in a country. According to 234next newspapers, the president is not oblivious of the limitations of capacity in manufacturing for the upstream and downstream operation in Nigeria. He therefore wishes the country to follow the path of other nations where the application of local content has stimulated investments that transformed their economies. In his words, "We must drive the implementation of this law in a manner that develops partnersh

Nigeria marks 50th independence anniversary.

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NIGERIA as an independent country from British colonialism since 1960 turns 50 today on October 1, 2010. To mark the golden jubilee, the federal and state governments have mounted an elaborate programme of festive celebrations. Our Query: Are We There Yet...? The Nigerian Guardian (www.ngrguardiannews.com) in its editorial on October 1, 2010, mirrors our thoughts about Nigeria in its adulthood at 50 years. According to the Guardian, for a country that has endured 29 years of military rule, survived a fratricidal civil war, and practised an uninterrupted democracy since 1999, there is indeed a need to celebrate... However, if anyone looks at Nigeria’s performance since 1960, no one can say that it has been an unqualified success. The high promise held out for Nigeria at independence has not been realised. Countries like Malaysia, India, Brazil, and even Ghana (we add Singapore here) with whom we were in the struggle for economic emancipation have all overtaken us. Today our leader

INVITATION TO AN AGRICULTURAL STUDY TOUR OF ISRAEL

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We are proposing a ten (10) day agricultural trip to Israel for Nigerian government officials and private sector agricultural operatives. The objective of the tour is to stimulate the interest of the participants to agriculture through lectures, interaction with experts and visits to locations of interest in Israel. The study tour scheduled to hold 2-11 November, 2010 is predicated on Government’s efforts at ensuring food security for the people of Nigeria while in the same token diversifying the revenue base of the country away from oil. Moreover, we are of the opinion that a trip of this nature would have direct and positive impact on the citizenry. Israel has been chosen for the tour on the strength of its innovative agricultural practices that have earned the country a pride of place in the comity of nations, agriculturally speaking. Agriculture in Israel is the success story of a long, hard struggle against adverse conditions and of making maximum use of arable land and scarce wat

CROSS BORDER BUSINESS: Case of Nigeria and Benin

Celebration of the Jubilee year of political independence is in the air for many African countries. Benin has celebrated hers and Nigeria’s is in the horizon as it celebrates her independence from Britain this October. Let us remind ourselves that these countries were created by the colonial powers without due consideration of the implications of the demarcation exercise. In the case of Benin and Nigeria, as in many others too, culturally related people were separated by artificial boundaries. The motives behind the Balkanization was captured in R. Muir’s publication on Political Geography, 1983, that ‘in establishing political territories, each colonial power attempted to maximize its sphere of control that would serve as barriers to the continuous expansion of rival colonial territories and secondly, to control river basins which provided highways for trade, to established coastal footholds and for further inland penetration…’ The Jubilee Year of political independence provides a bas

SPENDING ON INFRASTRUCTURE TO RISE IN NIGERIA

One of the issues I think that keep awake all night the leadership of the Federal Government of Nigeria and those looking to replace it is that of improving the lots of Nigerians. Theoretically Yes! It is only five years to 2015, the much talked about year in which Nigeria, as many other countries in the world are expected to achieve the UN Millennium Development Goals. Also, the home grown Vision 2020 whereby Nigeria hopes to join the community of the twenty biggest economies in the world is just ten years away. The governments at all levels should be unsettling! According to the Delta State Governor, Dr. Emmanuel Uduaghan while inaugurating the state steering committee on Vision 2020, he said inter-alia ‘in a fast-paced, globalised, post-industrial world, the challenge to catch-up is very daunting. We are confronted by gigantic undertaking of how to surmount our basic infrastructure gap, of poverty crisis, the human capital deficit and value reorientation. But the job must be done. F

China tops Japan as second biggest economy

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The shouting headline in many world news media including Nigeria's 234next, August 17, 2010 is this: China has reached another landmark by edging ahead of Japan as the world's second-biggest economy after overtaking Germany as the largest exporter. The change came in the second quarter with the Japanese Cabinet Office conceding China's economy is now bigger, with gross domestic product in the period of $1.337 trillion (£851bn) compared with Japan's $1.288 trillion. Many people saw this coming. As a matter of fact, Economists agree China will become the world's biggest economy, the only difference is over timing. PricewaterhouseCoopers expects it to take the top spot from the US in 2020, while Jim O'Neill, Goldman Sachs chief economist, has plumped for 2027 quoted the British Newspapers, The Telegraph. We have noted and reported in this blog on the bullish attitude of the Chinese in taking new business territories (and protecting it). Despite criticisms of Chines

Medical Tourism: IMS Global, Israel NOW has a Nigerian Representative Office

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Do you know that Israeli physicians are responsible for much of the world's advances in medicine and medical technology, with many procedures, medical devices and software now used globally? Israel offers many advantages including excellent care at affordable cost. IMS Global mission is to assist patients in accessing this high quality, affordable medical care in Israel. IMS represent's Israel's 18 leading internationally recognised medical centres. No matter the type of treatment, IMS has the solution! Your case is reviewed and evaluated by Israel's leading department heads and/or professors at no cost to you. IMS negotiated rates and contractual agreement with each medical centre stipulates that IMS clients receive the lowest possible price for their surgical procedure. From first contact until return home, IMS takes care of you, your medical and personal needs as well as your loved ones accompanying you to Israel. Its services include helping with visas requests, arr

As Benin Republic celebrates its 50th independence anniversary

We wish to congratulate the government and people of Benin Republic as they mark their 50th independence anniversary. To give the citizens reasons to celebrate, the government has to do more of the following: a. create an improved enabling environment to attract more foreign investment, b. place more emphasis on tourism, c. quickly facilitate the development of new food processing systems and agricultural products, d. rapidly encourage new information and communication technology, and e. deepen regional trade and cooperation. Congratulations! You have our support. Ndudi Osakwe Infoplus/IBG Nigeria

SINGAPORE FOOD AND BEVERAGE MISSION TO NIGERIA, JULY 26, 2010.

WELCOME ADDRESS The Honorary Consul General of the Republic of Singapore The Honorable Commissioner of Commerce and Industry Iyalode Alaba Lawson, MFR, Chairperson, Business Women Group, NACCIMA Chief (Mrs) P. Kuye, President, Institute of Direct Marketing of Nigeria Official from National Agency for Foods and Drugs Admin and Control Official from the Lagos Chamber of Commerce and Industry Delegates from Singapore Ladies and Gentlemen We are very pleased to all of you for honoring our invitation with your distinguished presence to the International Enterprise Singapore Food and Beverage trade mission to Nigeria. This is a mission that would pave the way to a better Nigeria-Singapore business relationship. As Nigerians, we are conversant with the giant strides made by the government and people of Singapore in the transformation of their country from being a third to a first world. We are aware that they have the most business friendly regulation in the world and have successfully led th

Pabod's Way To Nigerian Fun Seekers!

There is sense in investing in the Nigerian marketplace. Have we over-flogged this truism? I do not think so! The Nigerian investment environment gained further recently as a South African brewing firm, Pabod Breweries Limited, formally unveiled Castle Milk Stout in Lagos. Pabod Breweries is a subsidiary of SABMiller, which has grown from its original South African base into a global company with operations in both developed markets and in emerging economies such as Eastern Europe, China and India. SABMiller, which was known as South African Breweries prior to its 2002 acquisition of Milwaukee-based Miller, now gets 35 per cent of its overall profits from Africa, compared with just four per cent for rival Diageo. A statement on Friday said the brand of stout, blended with some quantity of milk, was formally reintroduced into the country because of its wide acceptability.The statement quoted the Managing Director of Pabod, Mr. Johan De Kok, as saying during the unveiling that his comp

In Nigeria, hospitality business booms, even for women of easy virtue

The driver has just brought in two chest drawers I bought for half the price from an expatriate returning to his country with his family. From a reliable source, not less than four expatriate families are leaving the services of the company. Many other companies are doing the same as every other week; there are text messages to people close to the expatriate community on household stuff for sale by departing families. It is not unbecoming of these companies that few years ago provided such families with paradise on earth facilities in Nigeria for their expatriate staff. Their kids attend international schools where school tuition fees are not less than $20,000 a year, luxurious lifestyle, exotic vacations, hordes of maids and drivers at the beck and call of the wife of the male expatriate popularly referred to in Nigeria as the ‘Madam’. Those were the good old days. Since the global meltdown, there has been belt tightening by companies especially those that hire expatriates to run thei

Sparkling Future in Nigeria: Small World 2010.

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It was merriment galore as the International Women's Organisation for Charity, organisers of the annual Small World put up their 15th fun-packed edition in Lagos with a theme, 'Sparkling Future' Thirty Two Million Naira was realised from sale of tickets, corporate sponsorships and donations especially from the Expatriate and Foreign Residents communities in Nigeria to support charities sponsored by the various communities. It was a night of national pride in flags parade and medley of cultures: choreography, costume, dance, drinks, food and fun as many look forward to the next edition, come February 2011. Would you be there?

NIGERIAN EXHIBITIONS & FAIRS, 2010.

Are you considering entering the emerging market of Nigeria? Do you seek agents and distributors for your products and services? Do you seek joint ventures partnership with a Nigerian business? Get your feet wet by attending one or more of the exhibitions and fairs holding in various locations in Nigeria in 2010. Our company, Infoplus/IBG Nigeria is with you all the way as you plan your market entry strategies; and would deploy our knowledge of the conditions of the Nigerian market in assisting you. Email ibgnigeria@gmail.com or call our office on +234 1 8782864 for more information. Below is a partial list of Exhibitions and Fairs approved by NACCIMA to hold in 2010. INTERNATIONAL TRADE FAIRS 2010 Name: 31st Kaduna International Trade Fair Date: Friday, 19th – Sunday, 28th February 2010 Venue: Kaduna International Trade & Investment Centre, Kaduna 1 Organiser: Kaduna Chamber of Commerce & Industry KM 4 Kaduna-Zaria Road, Rigachikun Kaduna State Tel: 234-062-3

NIGERIA: Investment Incentives

This is 2010 and I am sure you are thinking of where you can find help on investing in Nigeria. Do not look any further! The Federal Government has a one-stop agency set up to assist investors in the country. It is called the Nigerian Investment Promotion Commission (NIPC). Also, several investment incentives has been put in place for the stimulation of private sector investment from within and outside the country. While some of these incentives cover all sectors, other are limited to some specific sectors. The nature and application of these incentives have been considerably simplified. The incentives include: (i) COMPANIES INCOME TAX The Companies Income Tax Act has been amended in order to encourage potential and existing investors and entrepreneurs. The current rate in all sectors, except for petroleum, is 30 percent. (ii) PIONEER STATUS The grant of Pioneer Status to an industry is aimed at enabling the industry concerned to make a reasonable level of profit within its formative y

Nigeria in 2010, the Jubilee Year!

The New Year, 2010 started on a wrong foot. For what has become a way of life, many Nigerians entered the New Year in darkness. The 6000MW of electricity promised failed to materialize. Long queues at the petrol stations were carried over on to the New Year as rumors of increase in the pump price of petrol became rife. Shortly before the year 2009 ended, a new helmsman was announced as the Governor of the Nigerian Central Bank. His name is Mallam Lamido Sanusi. He introduced some radical reforms that witnessed the exit of several bank chiefs. The restructuring that followed in the commercial banks was met with massive sack of workers by banks. As if the pains mete out to families as a result of power outages, scarcity of petroleum products and retrenchment of workers were not enough, the nation was slapped with a label as a ‘country of interest’ by the US as a result of a botched attempt by citizen AbdulMutallab to bomb a US bound plane. This put the nation’s rebranding project in cris