8 months ago

BusinessDay 12 Apr 2018


30 BUSINESS DAY C002D5556 Thursday 12 April 2018 Luxury Malls Companies Deals Spending Trends Nigeria’s over N25bn leather valuechain to receive new lease of life The Lagos Leather Fair engages stakeholders STEPHEN ONYEKWELU At the peak of Nigeria’s recession, that is, over two quarters of consecutive negative economic growth, since the first quarter of 2016, economic diversification became paramount and Nigerians started looking inwards to grow the naira. The campaign for Made in Nigeria products took a new dimension and the awareness has grown that even without compulsion, Nigerian leaders assumed front-row in actively drumming up support for products. Senator Ben Murray Bruce kicked off the spirit by amplifying the hashtag #BuyNaijatoGrowtheNaira on Twitter two years ago. In this light, locally Finished Leather Goods (FLGs) such as shoes, handbags and other fashion accessories hold great investment opportunities. The leather industry has been identified by the Bank of Industry to generate an annual income of N24.5 billion with limited support and also have the capacity to create over 700,000 direct and indirect jobs, therefore implying that the industry has not been maximized to its full potential. The Lagos Leather Fair is a first of its kind in Nigeria for all the stakeholders along the leather value chain, and was created to identify the challenges facing the industry with the hope to discuss possible innovative and sustainable solutions. The first edition held 2017, and this year the fair is scheduled to hold on the May 5 and 6 of May, 2018 at the Federal Palace Hotel, Lagos. Founded by Femi Olayebi of Femi Handbags, the fair is a private initiative that seeks to promote leather designers by creating a networking platform to showcase their work and eventually provide the much-needed training for artisans that would essentially improve the general quality of our finished products. In 2017 over 2,500 people gathered for the first edition of the fair to learn from the various master classes, panel discussions and creative workshops. Attendees also got to shop and discover Madein-Nigeria leather products from over 50 leather exhibitors. According to Ogbonnaya Onu, the Minister of Science and Technology who spoke at the validation workshop on National Leather and Leather Products Policy held in Sokoto in January 2018, ‘the leather industry is the nation’s next gold mine and holds the key to industrial growth, jobs and wealth creation’. He also described the leather industry as ‘strategic in view of its importance in the economic diversification of the country’. The most popular FLG products are footwear (around 85 percent of all FLGs). Slippers and sandals comprise around 80 percent of footwear production, data from Growth and Employment in States (GEM) shows. GEM’s programme is a five-year programme jointly funded by the World Bank and the Department for International Development (DFID), United Kingdom. GEM 2012 report estimates the annual market for Nigeria FLGs at about $200 billion. The main FLG production areas are Kano, Onitsha, Aba and Lagos. Covered shoes dominate production in Aba with an annual production of 6, 000, 000 shoes at an average retail price of N5, 000 ($ 16) per unit this gives N3 billion ($10 million) annually. This is only for the captured covered shoes market. One thing seems clear, there is great potential here. Covered shoes are equally significant in Lagos and Onitsha, while slippers and sandals are dominant in Kano and Kaduna. However, FLG producers specialise in low-end products or poor quality with poor finish, made with technologies and tools that have been mostly abandoned in the rest of the world. Nigeria manufactures and sells only lowend shoes and slippers of poor quality, while more than 120 million pairs of basic, medium quality leather shoes are imported from Asia. “One of the biggest challenges we have is sourcing high quality, unique leather materials locally for our production. In addition the local artisans might be skilled but their finishing often falls below international standards” said Eseoghene Odiete, founder/CEO Hesey Designs Ltd. Another shoe maker, Francis Chukwu, managing director, Frantonia Industries Limited said that apart from military and paramilitary shoes, school shoes are also in high demand. He explained that his production capacity has increased from 100 pairs per day to 250 pairs per day. To meet with demands, Chukwu said he has increased the number of ancillary staff from two to four people. For instance, I’m currently making shoes for schools and these schools are coming from outside the state. He said also that importers are now patronising quality shoes made-in-Aba but appealed to Federal and State Governments to provide infrastructure, especially roads and electricity, to support industrialisation. The Aba leather products cluster was identified as the densest in Nigeria. It consists of over 15,000 enterprises with 23,000 regular employees and an annual turnover of $100 million. This year, the fair is themed ‘The New Possible’ as it will focus on the many possibilities and massive potential the Nigeria leather industry has to offer. To encourage up and coming designers, the “Emerging Designers Competition” has been introduced, and is aimed at giving young, aspiring leather designers an opportunity and a platform to showcase their work. The top five finalists will win a cash prize, a mentoring opportunity and a booth at the Fair. Power oil resumes pay with calories campaign …extends health activation to Rivers, Anambra state CHINWE AGBEZE Power Oil, Nigeria’s healthy cooking oil brand has extended one of its annual consumer health awareness activities, ‘Power Oil Pay with Calories’, to Rivers and Anambra state to promote a healthy lifestyle while reminding Nigerians of the benefits of a daily fitness routine. The activation which commenced five years ago is open to consumers who are willing to work out and be rewarded on the spot for burning calories. According to the organisers, this is aimed at engaging consumers in series of exercises both on the treadmills and cyclers to burn calories, which would eventually be rewarded with amazing gift items depending on the amount of calories being able to burn within a specific time. The events which held at Onitsha Mall and Port Harcourt Mall created an exciting platform for the brand to interact with its consumers. Sport oriented gift items were laid out for consumers to pick from according to calories burnt within a specified time. Amisha Chawla, brand manager, Power Oil, said the experiential campaign was borne out of the necessity to encourage Nigerians to be mindful of their health. “The activation is simply to promote healthy living by encouraging Nigerians to pay more attention to their body and be cautious about the quality of what they consume in order to maintain a healthy heart,’’ Chawla said. ‘‘We also make it a point of duty to advice Nigerians against the consumption of low-quality or sub-standard cooking oil, which on the long run puts consumers at risk of heart related diseases and other health issues.” According to Omotayo Abiodun, public relations manager, ‘‘Power Oil Pay with Calories activity’ had always been held in Lagos, Ibadan and Abuja in the last couple of years. However, in order to have more Nigerians especially from the Eastern part of the country benefit from the health awareness campaign, it was extended to Rivers and Anambra state.’’ The consumer engagement activation was extended to more states with the strong believe that it will motivate and encourage consumers to understand the importance of leading a healthy life for themselves and their family. “We had so much fun while getting rewarded for that made it more interesting, I applaud the Power Oil brand for bringing the event to Port Harcourt, and we shall be looking forward to another edition,’’ said Tony Chris, a participant in Port Harcourt who also burnt 53 calories. Ngozi Ibekwe, a participant in Onitsha who lost up to 30 calories and got rewarded with a tummy trimmer, commended the brand for its unflinching efforts in encouraging Nigerians to live a healthier life through their various health friendly activities.

Thursday 12 April 2018 C002D5556 BUSINESS DAY 31 LG Electronics has provided a free laundry service for residents of Ogba community and its environs that are faced with power and water challenges to efficiently carry out their washing chores. The laundry cabin is equipped with state of the art facilities to effectively take care of laundry needs of the people at no cost. The event which held at the LG showroom had top officials from Korea in attendance. Some of the attendees include; Choong Hak Lee, executive vice president, business support officer, LG Electronics; Dae Sik Yoon, vice president, LG Electronics as well as top management of LG Electronics West Africa operations led by Taeick Son, managing director, LG Electronics West Africa operations; Mohammed Fouani, managing director, Fouani Nigeria limited; Jiung Park, general manager, Home Appliances Division, LG Electronics; Hari Elluru, corporate marketing manager, LG Electronics West Africa operations alongside other dignitaries and the media. The Free Laundry tagged “Life’s Good with LG Wash” is part of the company’s corporate social responsibility program for the year which has been designed to help people, homes and the community at large lacking sufficient water and power to carry out their laundry requirement. This free laundry offered by LG Electronics will help people overcome laundry issues at free of cost as well as create convenience, comfort and availing them more time to handle other valuable activities. LG Electronics provides free laundry service to Ogba community in Lagos CHINWE AGBEZE It is designed to serve over 50 people per day and it will operate on a daily basis from morning till evening in order to ameliorate the living conditions as well as support the daily washing requirement of people in the area. It is interesting to note that, LG Electronics has over the years continued receive accolades from Nigerian consumers for having their interest at heart in the development of cutting edge technological products. LG plans to be replicating this initiative in other strategic locations across the state and indeed the country. The Executive Vice President, LG Electronics in his opening remarks, said “as a global company, LG Electronics wants to use its capabilities to help local communities all over the world solving some of their regional issues. In this regard, I hope that ‘Life’s Good with LG Wash’ will help make your lives more convenient and comfortable. I hope that the opening of ‘Life’s Good with LG Wash’ will bring more spare time and comforts to residents here. LG Electronics will continue to support communities even in the future. However, the feat which seems to be the first of its kind L-R: Hari Elluru, corporate marketing manager, LG Electronics West Africa operations; Taeick Son, managing director, LG Electronics West Africa operations; Mohammed Fouani, managing director, Fouani Nigeria Limited; Choong Hak Lee, executive vice president, business support officer, LG Electronics; and Dae Sik Yoon, vice president, LG Electronics, during the commissioning of LG Electronics free laundry service recently at LG showroom in Ogba Lagos. in the country by any brand in the country will create a real difference in improving society and helping address social issues in Ogba and its environs. The facility contains several LG Washing machines, LG Dryers, LG Air Conditioning units, uninterrupted power supply, constant supply of water among others to ensure the facility operates seamlessly. Also commenting at the occasion Mohammed Fouani, managing director, Fouani Nigeria Limited, said: “this is what I truly call giving back to the society, because the real beneficiaries of this project are the masses, I believe they will take advantage of this initiative from LG Electronics to make life better for them. The laundry is fully equipped with modern facilities for a standard laundry service.” More so, LG Electronics has vigorously pursued its CSR initiatives with all sense of responsibility and commitment, placing it at the forefront of giving back to the society. In the educational and health sectors of the economy, the brand has contributed immensely by touching lives and institutions which is its CSR core thrust which should tilt toward human centric. Recently, LG made donations to health institution in Port Harcourt, Abuja and Kano all in a bid to give a facility lift to the health sector in the country. Bosch Power Tools launches first experience centre in Sub Saharan Africa Bo sch Power Tools Nigeria has launched the first experience centre in Sub Saharan Africa to deliver the latest tools to professional users and tradesmen. The experience centre which is birthed with the partnership of Amicable Concerns Limited is located in Victoria Island area of Lagos state. The centre focuses on professional users in the construction space as well as tradesmen, artisans, and craftsmen assisting users to meet the demands of the growing Nigerian economy, especially in the area of infrastructural development. ‘‘Users can enjoy tailored application trainings, for example, with bench top, impact drills and measuring tools and have the opportunity to purchase the latest Bosch power tools and accessories,’’ said Frank Diermann, country sales director, Bosch Power Tools. ‘‘To increase user convenience, the centre offers a drop off and pick up service for all aftersales service needs.’’ According to Diermann, the experience centre is essential for the Nigerian market. “In support of the rapid infrastructural developments in Nigeria, the exclusive first of its kind Bosch Power Tools experience centre in the Sub Saharan Africa provides professionals and tradesmen with know-how and tools that are easy to use and that will significantly increase productivity in their day-to-day work. The experience centre is essential for the Nigerian market,” he said. Bosch Power Tools officially opened the experience centre which is located at Block B Shop 4A, Eko Court Complex, Kofo Abayomi Street, Victoria Island Lagos on April 7, 2018. Living under poverty line How Nigerians are struggling to survive If you want to contact the writer of this story call: +234(0) 803 889 1567, +234(0) 8155184838 Teacher in dire need of funds to undergo hip replacement Name: Godwin Adanon State of Origin: Lagos State Age: 26 years Dependents: None Occupation: Teacher I used to teach Music at Christabel Nursery and Primary School, Oshodi. I also taught Music in College Best Secondary School but I quit teaching in schools in 2015 when I started experiencing a severe hip pain. I have had issues with my left leg for a long time but sometime in 2015, I discovered that each time I stood up to teach, the pain at the hip was always severe. What did you do when you noticed the severe pain? I went to General Hospital, Isolo, for diagnosis. I was referred to Ikeja General Hospital for X-ray. After the X-ray, I was told I needed a ment since then? I have not taken any treatment. The doctor advised me to be using crutches to avoid total breakdown of the hip since I don’t have the money for the surgery. I also have to use the crutches each time I want to go out to reduce the pain on my leg. I have had this issue for long and I usually take Renaf Plus and other pain-relieving drugs prescribed by my doctors. I take the drugs once in two days just to calm the pain and it lasts for a week, after which the pain would come up again. If that happens, I rush and get the drugs. How have you been coping since you noticed this in 2015? I had to stop teaching Music in schools. I only teach a student Music at home on Saturdays and I’m paid N15, 000 surgery. The doctor said my entire hip has gone and must be replaced. The bill I was given was huge so I went to my pastor for prayers. One of the leaders in my church raised N50, 000 for me and another leader from another church raised N50, 000, making it N100, 000. Since then (February 2016) till now, no more money has been raised. What is the cost implication? The bill I was given by the Lagos State University Teaching Hospital (LASUTH) on the September 30, 2016, was N823, 000 for the hip replacement, but recently, I went back to the hospital and was told I needed about N1.4million which will cover the surgery, admission bill, drugs, and blood. Have you taken any treata month. I used that money to support myself. My family are poor and could barely feed themselves let alone help with my medical bill. I still support them with the little I make. I cannot go far with the crutches. Sometimes, I have to trek from my house to the junction to catch a bus and that usually gives me a tough time. I discovered that each time I walk the bones at my hip rub against each other and that gives me serious pains at the hip. Each time I’m walking, the hip generates pain. The best thing I was told is to do the surgery. This hip problem has caused me so much pain. It’s hard for anyone to know what I’m going through but whenever I’m alone, I cry so much praying that God will raise men to help me do this surgery. Analysts: Chinwe Agbeze, Stephen Onyekwelu, David Ibemere, Graphics: Fifen Famous

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