Wednesday, July 31, 2013

DON’T BE A LAGGARD: INVEST IN THE NIGERIAN FOOD MARKET.

Africa Investor, a leading investment magazine with focus on the African continent reported that even though South Africa is recognized as Africa’s largest economy, Nigeria far outweighed it in foreign direct investment, receiving about 16 billion US dollars in FDI between June 2009 and June 2010 to lead the pack on investment index in the entire continent. However, while most of the investment was in the oil and gas sector, other sectors have received more of lip service than real investment. It is not yet Uhuru!

Agriculture has been the greatest culprit because more than 70% of Nigerian population is engaged in agriculture-subsistence agriculture-leading to huge supply gap in the food sub-sector. As a matter of fact, it is estimated that out of about 71.2 million hectares of available cultivatable agricultural land in the country, less than half is currently being utilized. This is the sector to put your funds right now. You may invest in green houses, improved seedlings for farmers, post harvest facilities, processing of produce, agricultural marketing and export.
The Nigerian food market is robust and ripe for foreign investment for the following reasons:

 a. an enlarged middle class with good disposable income, in search for good quality and well packaged products

b. increase in the demand for ready meals and cold foods (frozen products) due to rise in the employment of women especially in the services sector.

c. increase in the number of Nigerian Repatriates (returnees from overseas)

d. growth in the expansion of supermarkets and shopping malls due to the renewed interest among Nigerians for convenient shopping

e. increase in the number of Expatriates working in various projects in Nigeria.

f. increase in the number of Quick Service Restaurants (QSR) in response to the gap created by long hours at work.

Nigeria has been reported to be one of the few countries in the world now that up to 30% return on investment can be achieved. Take a chance!
 
Let us be your guide. Email us on inquiry@ibgnigeria.com.

 

 

 

Tuesday, July 30, 2013

SEMINAR ON DOING BUSINESS IN ISRAEL


CLOSING REMARKS ON THE OCCASION OF THE SEMINAR ON DOING BUSINESS IN ISRAEL, HELD IN LAGOS, NIGERIA ON JULY 18, 2013

Greetings!
I feel humbled to be called upon to give the closing remarks on this August occasion on “Doing Business in Israel” put together by the Nigeria Israel Chamber of Commerce and Infoplus Business Information Services.

Israel has been described by one of the speakers as a mission, practical and focused with know-how, new concepts and set of skills that have transformed its economy, whereby once desert areas have been transformed into agricultural fields; and the country able to feed itself and to export! As a matter of fact, Israel’s capacity for innovation has been identified as its main strength such that insecurity and other significant adverse conditions have not fazed the citizens of this great country from digging deep into research and development. The World Economic Forum recently issued its Global Competitiveness Report for 2012-13 which indicated that Israel remains a competitive player in the international economy.
I will paraphrase the works of Dan Senor and Saul Singer in their book on the ‘Start- up Nation, the story of Israel’s economic miracle’. In this book, the authors noted that Israel has something to offer that is sought by other countries, including countries that are considered on the forefront of global competitiveness. According to the authors, in addition to the institutional elements that make up clusters-which Finland, Singapore and Korea (South) already possess, what is missing in these other countries is a cultural core built in a rich stew of aggressiveness and team orientation, on isolation and connectedness, and on being small and aiming big.

The secret then of Israel’s success is the combination of some classic elements of technology clusters with some unique Israeli elements that enhance the skills and experience of individuals, make them work together more effectively as teams and provide tight and readily available connections within an established and growing community.
Messrs Dan Senor and Saul Singer further noted that while innovation is scarce, it is a renewable resource. Unlike finite natural resources, ideas can spread and benefit whichever countries are best positioned to take advantage of them; regardless of where they are invented.

Imagine therefore a country as Nigeria endowed with youths with abundant energy and overflowing ideas channeled into wrong activities, most of which have brought shame and mistrust to the country. In my candid opinion, Israel serves as one country with ideas that can be deployed to implement the Transformation Agenda of the Federal Government. Countries such as India and Singapore are aware of this fact and have entered partnership with the state of Israel for scientific and technological research and development. Our NOTAP (Nigerian Office for Technological Acquisition and Promotion) should consider a high level discussion with the government of Israel through its Embassy in Nigeria to implement the technical agreement signed by both countries several years ago.
It gives me joy that in this gathering, we have representatives of the Raw Materials Research and Development Council, Federal Institute of Industrial Research, Bank of Industry, Nigerian Export Promotion Council, Nigerian Investment Promotion Commission, Nigerian Association of Small Scale Industrialists, Nigerian Association of Small and Medium Enterprises, Lagos Chamber of Commerce and Industry, various state governments and members of Nigeria Israel Chamber of Commerce, I hope that we took notes.

I look forward to a day, when like Pilgrims to the Holyland, the Nigerian Government considers sending equal number of young Nigerians on study exchange to Israel. Our economic recovery journey would have been shortened.
Long live the Nigeria Israel Chamber of Commerce.

NDUDI OSAKWE
Consultant, INFOPLUS
inquiry@ibgnigeria.com

 

Saturday, July 27, 2013

Egi MJG Launches Float Glass Manufacturing Plant In Nigeria


mara group
VENTURES AFRICA – Egi MJG Float Glass, a joint venture between the Egi Community, Mara Group, JS Group and Ghani Group in River State today announced the groundbreaking for their first float glass manufacturing plant in Nigeria, which is valued at $210 million. The production facility in Rivers State which aims to produce 500 tonnes of float glass per day will cost $110 million during the first phase, and an additional $100 million during the second expansion phase.

During the ceremony, Prashant Manek, Director at Mara Group, declared: “Today’s groundbreaking is a first step in making Nigeria self sufficient in terms of glass manufacturing. As a result of the strategic location and the locally available raw materials, we are highly confident that we will be able to build a world-class, cost-competitive facility.”

According to Ali Siddiqui, CEO of JS Group, “since the year 2000, the global float glass industry has experienced strong growth. In particular, the industry has significant potential in West Africa and this project in Rivers State is a strategic investment in the building materials sector in Nigeria.” Chief Oris U. Onyiri, President-General of the Egi People’s Assemble stated that the community was “extremely excited with the development of this plant.” According to him, the development will generate employment and transformation.

Nigeria’s domestic demand has increased to an estimated 360,000 tonnes per year as a result of the country’s booming housing industry but is highly dependent on imports from Europe, South America and particularly China as a result of the lack of domestic float glass plants.

Source: Ventures.

NB: We recall doing a market study for Euromonitor, an international market research organization  on the prospects of the Floating Glass subsector in Nigeria. This is a timely investment by the Mara Group, JS Group,  Ghani Group and the Egi Community.  As noted by Ventures, nothing ventured, nothing gained.

We are at your disposal in Nigeria for market research, business intelligence and trade advisory. Email us on inquiry@ibgnigeria.com

Thursday, July 25, 2013

INTRODUCING OUR NON PILGRIMAGE TRAVEL SERVICE TO ISRAEL

We are business facilitators, market researchers and consultants. We are Nigerians as well as Israelis. We have lived and worked in Israel and now do the same in Nigeria therefore we understand the cultural nuances in both countries. 'We speak their languages'.

Coming back to Nigeria was to represent the US federal states of Missouri and California Offices of International Marketing, East Mediterranean Regional Office in Nigeria. We have since moved on to doing business in other parts of the world, leading business delegations to Singapore, China and Israel. Amongst other things, we have also contributed to doing ‘business beyond borders’ by holding a seminar on cross border trade between Nigeria and Benin Republic in collaboration with the Consulate of Benin Republic, Lagos. Recently we collaborated with the Nigeria-Israeli Chamber of Commerce to host a seminar on Doing Business in Israel. We provide market intelligence, conduct market research, do business matching, assist with market entry, help to locate agents and distributors. The Principal Consultant is also an academic and for his Ph.D would be investigating Nigeria-China business relations by applying various spatial interaction models....that's for another day!
There are many other things that we do as business consultants. Like... we offer non pilgrimage travel services to Israel...to locations within Israel that traditional pilgrimage may not consider. As a matter of fact, this service is packaged with the middle to upper class in mind whereby in addition to their routine of unwinding in locations in Nigeria, are also able to temporarily get away from the hustle and bustle of Nigerian daily living.

Israel is particularly interesting because of the range of options it offers on stress relief, age renew and body rejuvenation. It is also a great location for honeymoon getaways, vows renewal, spiritual rebirth and journey of a lifetime experience. The Dead Sea was first brought into prominence by Cleopatra the King of Egypt and the Queen of Sheba, King Solomon's mistress. The Roman Caesars were also regulars at this World's only natural Spa. Today, visitors from all over the world throng the Dead Sea especially for Wellness.
On the other hand, Eilat with its breath taking view of the Red Sea is a resort worth visiting. Visit to Israel without reaching Jerusalem is incomplete. We do not wish to bore you more by telling you about the myths and holiness of Jerusalem.

Just form a group of ten persons and give us a call. Special surprises await you. Email eldrasynthesis@ibgnigeria.com.