7 months ago

BusinessDay 09 Apr 2018


Monday 09 April 2018 42 BUSINESS DAY C002D5556 REAL SECTOR WATCH Presco pumps N75bn into Nigeria’s palm oil industry ODINAKA ANUDU Presco Plc, one of the leading palm oil producers in Nigeria, says it has so far invested N75 billion into the industry and plans to produce 47,000 metric tonnes (MT) of crude palm oil (CPO) in 2018. Felix Nwabuko, managing director of Presco, says the company plans a capital expenditure investment of N46 billion over the next five years (2018-2022). Nwabuko says the investments will go into plantations development, processing facilities, energy infrastructure and other supporting machinery, equipment and infrastructure. “Our current capacity is 63 percent in the peak season and 24 percent in the lean season. Estimated production for 2018 is 47,000 MT of CPO. An average annual rise of 11 percent is expected over next five years,” he tells BusinessDay. He reveals that the company has a total land bank of 40,000 hectares, of which total planted areas are 20,136 hectares of oil palm plantation and 138 hectares of rubber plantation. “Our programme with smallholder farmers comes in the form of making available high yielding planting materials raised in our own nurseries to those who are interested,” he states. “Corporate social responsibility (CSR) is one of the three elements of the management principles of our Group in all the countries in 100 local, international firms expected at Food West Africa Informa Life Sciences Exhibitions, a leading publishing and exhibitions company, has returned with the 3rd edition of Food West Africa – the largest B2B food and beverage industry platform in West Africa. The event, which will take place at Landmark Centre in Lagos, between 8 and 10 May, is expected to attract more than 4,400 industry professionals from 25 countries looking to make new wholesale, retail and food service contacts in the industry. Food West Africa will host over 100 local and international exhibitors …to produce 47,000 MT of CPO in 2018 L-R: Adenrele Onikosi, facilitator; Omotayo Bamishe, head of accounts,Agip; Ighojovbe Oghenekaro, managing director, Agip CPFA Limited; Adelowo Adesina, managing consultants, Sages & Scribes Consultants; Yetunde Adeniyi, compliance officer, Agip, and Simeon Suopakiriba, facilitator, at the training workshop on ‘Personal Mastery & Value Based Leadership’ organised for Agip CPFA Limited by Sages & Scribes Consultants in Lagos which it operates. Our CSR programme delivers overall positive impact and longterm improvement on wealth creation, education and living conditions (job creation, equipping schools, scholarships, electricity, potable water, and roads maintenance, among others),” he says. On what it will take Nigeria to achieve sufficiency in palm oil production, the managing director says the country must take seriously, showcasing new F&B products, services and equipment from across the globe. Two new country pavilions have been announced for the 2018 edition of the show – India and Pakistan. The Indian food and grocery market is the world’s sixth largest, with retail contributing 70 percent of the sales. Similarly, consumer industry growth in Pakistan is ranked number three worldwide. The Nigerian wholesale and retail industry remains a lucrative investment opportunity on the back of a large and rising population with a rapidly increasing rate of urbanisation. According to Ryan a sustained aggressive planting of additional hectares of oil palm plantations and commensurate expansion in processing facilities capacities, supported with well thought-out and well-monitored government policies together. Nigeria produces between 900,000 and 1.2 million MT, out of 2.1 million MT local demand. The gap is filled by imports from Indonesia and Malaysia. Palm Sanderson, exhibition director, Food West Africa, “Nigeria’s household market is experiencing strong urbanisation, creating good opportunities for many sectors, particularly fast-moving consumer goods. Now in its third year, Food West Africa has firmly demonstrated its effectiveness as a medium for regional and international companies to raise their profile in this competitive industry sector. As well as promoting supply chain partnership, along with imports and exports, the event is a must-attend for F&B industry professionals from Nigeria and wider Western Africa looking to capitalise oil is used in foods as well as for the manufacture of the majority of packaged foods, ranging from biscuits to ice cream. Nigeria has a population of 183 million, more than half of whom are under 40. The combined commercial oil palm plantations by Okomu, Presco and PZ Wilmar is said to be under 900,000 MT, while smallholders farmers have about 400,000 MT. This is still not enough. Presco made a revenue of N12.825 billion in the first half of 2017, from N7.518 billion in the corresponding period of 2016. Its profit after tax was N5.555 billion, up 84 per cent from N3.012 billion in the corresponding period of 2016. Some experts argue that Nigeria needs to plant two million hectares of oil plam to be self-sufficient, which will cost over N2 trillion. on the best opportunity in the industry.” Bestway, the largest independent cash and carry operator in the United Kingdom, and supply partner to over 70,000 independent retailers and 40,000 catering and foodservice operators, has also confirmed that it will be exhibiting at Food West Africa 2018 once again. With a UK turnover of £2.5 billion and a comprehensive logistical infrastructure, the company has the scale, purchasing power and expertise to help their customers compete in an ever-changing food and drink sector. Once again, local representation from Nigerian companies is strong with key exhibitors such as Just Food Limited, ABX Food, AgroNigeria, Graceco, and Sona Agro Allied Food Industries present for the three-day event. Education is high on the agenda at Food West Africa 2018 with a two-day free-to-attend conference that will focus on current issues in food supply chain management. The event continues to enjoy firm support and backing from the Association of Food Vendors in Nigeria (AFVN), the National Agency for Food and Drug (NAFDAC) and NASON. Abuja Chamber, Ukraine Chamber sign MoU to raise trade volume to $2bn HARRISON EDEH, Abuja The Abuja Chamber for Commerce and Industry and the Ukraine Chamber of Commerce have signed a memorandum of understanding (MoU)to expand trade volume between both countries to $2 billion. The trade volume between both countries currently stands at a little above $93.20 million, which industry experts say could be expanded with greater partnership between both countries. Adetokunbo Kayode, president of Abuja Chamber of Commerce and Industry (ACCI), said on Friday at the Nigeria-Ukraine business forum that the initiative was part of efforts to strengthen the Economic Diplomacy Initiative launched by the federal government, geared towards bringing international communities into partnership with Nigerian businessmen and private sector. “The federal government launched on Thursday, the Economic Diplomacy Initiative and Partnership, and the MoU signed between Abuja Chamber of Commerce and the Ukrainian Chamber of Commerce kicks off the target of the federal government in linking international communities, their businesses and Nigeria’s private sector.” Kayode said the purpose of the MoU was to bring the businesses of both countries together , especially in manufacturing, stating that “Ukraine has strong equipment,we have raw materials here. We are bringing them together to manufacture every of the value chain, in agriculture,agroprocessing,metals and so forth”. “We are looking at a minimum of $2 billion investments, and we are talking of manufacturing across the board,whether in health,agriculture,metals and household goods.” “Nigeria is a net importer of virtually everything,which means if you attract the investors to bring in the equipment to manufacture here,you make lots of money,while creating jobs across the value chain,”Kayode said. In his earlier remarks,Valerie Alexandruk, Ukrainian Ambassador to Nigeria, who led a delegation to the forum, said partnership between Nigeria and Ukraine would be better facilitated given that the Nigerian delegation had earlier visited Ukraine to cement a partnership.

Monday 09 April 2018 BUSINESS DAY 43 CITYFile Simon Hercules, director of New Hope Medical Centre (r), attending a 75 years old patient, during the Aisha Bala Wunti Free Medical Treatment to over 500 patients at Bauchi State General Hospital in Bauchi on Friday. NAN Anchor Borrowers’ progrmme: 500 receive inputs in Bayelsan SAMUEL ESE, Yenagoa About 500 farmers in Bayelsa have received various farm inputs under the first phase of the Central Bank of Nigeria (CBN) Anchor Borrowers’ Programme. Ezekiel Ogbinko, chairman, Rice Farmers Association of Nigeria (RIFAN), Bayelsa chapter, disclosed this in Yenagoa on Friday while flagging off the second phase of the programme for the 2018 farming season. 180 survived fire outbreaks as N86m goods saved in Kano ADEOLA AJAKAIYE, Kano Over 180 persons survived fire outbreaks in different parts of Kano State just as goods estimated at N86 million were rescued in March this year. Saidu Mohammed, spokesperson of Kano State Fire Service, who released the 5,000 charged with traffic offences in Anambra The Federal Road Safety Corps (FRSC) says it has apprehended and prosecuted more than 5,000 persons for various traffic offences in Anambra in the first quarter of 2018. Disclosing this to newsmen, weekend, Sunday Ajayi, the sector commander said that the command also prosecuted over 100 offenders for various offences at a mobile court session during just concluded Easter celebration. statistics on Friday, however, regretted the loss of 14 lives in the incidents. Mohammed said 41 houses and 69 shops were affected in the fire outbreaks while properties valued at N29 million were destroyed during the period. He said that the service received 124 rescue calls and 24 false alarms from residents during the month. Ajayi said that the most prevalent traffic offences committed by the offenders included drivers’ license violation, overloading, non-use of seat belt and failure to install speed limiting device. According to him,the arrests, especially during the Easter period, were part of measures aimed at raising the consciousness of motorists on safety issues on the highway. Ajayi blamed the increase in accidents on speed, mechanical problems and envi- He said that some of the items distributed included 1, 200 bags of fertiliser of various types, 400 cans of herbicides and sprayers, among others. The chairman noted that the distribution of the inputs was aimed at ensuring mass production of rice through a revolving loan procedure, in line with the objectives of the programme. “Right now in the state, we have over 4,000 farmers working on the 20,000 hectares of land cleared for the dry season rice faming. The farm sites are at Ondewari and Okpotuwari communities in Southern Ijaw local government area,” he said. Ogbianko, however, warned the farmers against diversion of the items, adding that the programme was part of the Federal Government’s efforts toward achieving food security. Stanley Oruyeigha, head of finance, CBN, Yenogoa, commended RIFAN’s activities in the state and urged the farmers to make good use of the items received. Oruyeigha also called on the youths in the state to take advantage of the anchor borrowers’ programme and key into farming. According to Mohammed, the major causes of the fire were the use of inferior electrical materials, poor handling of electrical appliances, cooking gas and boiling ring as well as accidents. He advised the general public to be careful in this dry season in handling fire and stop storing petroleum products to avert fire outbreak. ronmental factors. He warned motorists against flouting traffic rules. He, however, said the corps would intensify its public enlightenment and advocacy programmes in collaboration with stakeholders to reduce accidents on the highway. He commended other security agencies for collaborating with the corps in its operations and appealed to motorists plying the state to cooperate with the corps for the safety of all road users. Ambode challenges workers to do more with less JOSHUA BASSEY Governor Akinwunmi Ambode of Lagos says he expects workers in the state public service to optimize their tasks and not use limited resources at their disposal as an excuse for unimpressive productivity. Ambode stated this at a training session for select workers, held last Thursday, in Ikeja, saying it was in the overall interest of the state for public servants to provide optimum services at limited cost. Represented by Akintola Benson Oke, the commissioner for establishments, training and pensions, Ambode, at the training with theme “adopting the lean process improvement culture in the civil service to further reduce waste and optimise productivity,” emphasise the need to eliminate waste. “If the Lagos State civil service is able to perfect the art of lean management and operations, the service will become able to eliminate the so-called “three sources of loss” which are waste, variability, and inflexibility,” the governor said. He further explained that a lean operational system would also ensure that the Lagos State civil service created and maintained the beneficial ability to improve itself constantly by bringing problems to the surface and resolving them. According to the governor, in this area, the public sector often found itself in a weaker starting position when compared to private sector entities, with gaps in skills and entrenched mind-sets. Ambode said the major goal of the training, therefore, was to identify and codify the methods, means, and strategies for ensuring that the state civil service was positioned to do more with less, adding that “at the end of this training, Lagos state civil Service and her officers should be able to produce even more outstanding results with less money, less personnel, and in less time.” Govt restructures project ‘Clean up Edo’ Edo state has also repositioned the project Clean up Edo Committee headed by Osarodion Ogie, secretary to the state government as a taskforce to clean up the state. Ogie with the repositioning of the task force, the residents are to ensure regular environmental sanitation around their surroundings, noting, “the state government frowns at the situation where citizens have continued to disregard environmental laws on waste disposal and use of social amenities in the state.” According to him: “The state government will not hesitate to invoke relevant provisions of extant laws in prosecuting persons, who dispose of refuse indiscriminately in the state, as mobile courts have been established to prosecute offenders. Owners of uncompleted buildings and vacant lands are to clear and keep such places free from weed and refuse.” 2 bag 12 months for stealing N3,000 phone A Karmo Grade 1 Area Court in Abuja has sentenced one Obinna Ezeh and Samson Odeh to six months imprisonment each for stealing a cell phone valued at N3, 000. The judge, Abubakar Sadiq, sentenced Ezeh and Odeh who admitted committing the offence, but gave them an option of N20,000 fine each. Sadiq advised the convicts to desist from committing crimes, adding that the sentence would serve as deterrent to others. The duo were convicted on a two-count charge of joint act and theft.

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