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Post by omohayek on Sept 15, 2017 19:10:38 GMT
Not unless the laws of economics have been cancelled or something. This artificial distinction between "acceptable" and "unacceptable" imports has a severely distorting effect on investment, encouraging businesses to expand where they have no genuine comparative advantage, which renders them likely to quickly collapse if Nigeria ever gets a government which is ready to implement a sane exchange-rate policy. In the meantime, the huge gap between the "official" and market value of the Naira has severely discouraged FDI, which has collapsed under Buhari's watch - especially the non-oil FDI that Lagos and Ogun are best situated to draw. The SW is actually the biggest victim of Buhari and Emefiele's idiotic "strong" Naira policy.
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Post by Honorebu on Sept 15, 2017 19:20:21 GMT
I doubt it, speaking as an indigene of both myself. Isn't it the same Awori, Egba and Ijebu people on both sides of the Lagos-Ogun border? Why should there be any such "beef" under the circumstances? The only people I can see promoting any imaginary "beef" over a meaningless, arbitrary border drawn up by some military dictator in the 1970s are the same ones so eager to claim Lagos as a "no man's land". Could it be political? I don't think Tinubu and Amosun see eye to eye Her Highness
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Post by omohayek on Sept 15, 2017 19:51:43 GMT
I doubt it, speaking as an indigene of both myself. Isn't it the same Awori, Egba and Ijebu people on both sides of the Lagos-Ogun border? Why should there be any such "beef" under the circumstances? The only people I can see promoting any imaginary "beef" over a meaningless, arbitrary border drawn up by some military dictator in the 1970s are the same ones so eager to claim Lagos as a "no man's land". Could it be political? I don't think Tinubu and Amosun see eye to eye Her Highness An intra-APC struggle between the Tinubu backers and Buhari loyalists makes a lot more sense than some ridiculous Lagos/Ogun "indigene" rivalry based on a silly border. To the extent that this really is about politics, however, I still think PDP politicos and their "natural" Igbo constituency are much more likely who Amosun is talking about: no governor of Ogun state would be foolish enough to pick a fight with his Lagos counterpart, given how dependent Ogun is on Lagos.
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Post by Ogbeni Ogunnaike on Sept 15, 2017 20:08:29 GMT
Not any I am aware of o. Abi which kain beef is that one again?
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Post by omoolowu on Sept 15, 2017 20:22:02 GMT
I doubt it, speaking as an indigene of both myself. Isn't it the same Awori, Egba and Ijebu people on both sides of the Lagos-Ogun border? Why should there be any such "beef" under the circumstances? The only people I can see promoting any imaginary "beef" over a meaningless, arbitrary border drawn up by some military dictator in the 1970s are the same ones so eager to claim Lagos as a "no man's land". Could it be political? I don't think Tinubu and Amosun see eye to eye Her Highness I don't really think it's political. Lagos and Ogun Deputy Governors met about two weeks ago on this border issue. The people behind this beef are the land speculators "Ajagungbale" in connivance with all these "baales". All these baales are the ones instigating these fights so as to acquire more lands to sell
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Post by Her Highness on Sept 15, 2017 21:41:44 GMT
I doubt it, speaking as an indigene of both myself. Isn't it the same Awori, Egba and Ijebu people on both sides of the Lagos-Ogun border? Why should there be any such "beef" under the circumstances? The only people I can see promoting any imaginary "beef" over a meaningless, arbitrary border drawn up by some military dictator in the 1970s are the same ones so eager to claim Lagos as a "no man's land". Could it be political? I don't think Tinubu and Amosun see eye to eye Her Highness oga o
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Post by Honorebu on Sept 18, 2017 10:53:40 GMT
Good news for the SW?
Value addition is all we are asking for,not just the raw produce
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Post by omohayek on Sept 18, 2017 21:59:49 GMT
Good news for the SW? Value addition is all we are asking for,not just the raw produce Unfortunately, that won't happen without a few factors beyond the control of our cocoa farmers, no matter how ambitious they might be as individuals. Here are just a few of the obstacles they face: - The Land Use Act of 1979, which maintains that no private Nigerian actually "owns" a piece of land, with ultimate ownership permanently vested in the government, and any temporary rights withdrawable on a whim if a governor ever feels like doing so. This makes land nearly worthless as collateral for bank lending.
- High energy costs, assuming said energy is even available. Running big generators on petrochemical fuel is a lot more expensive in the long run than even paying a market-reflective tariff (which would be much higher than the current price caps).
- Horrible transportation infrastructure. This is where the failure to maintain the national railways really shows itself: what cheap, reliable and reasonably secure means do our farmers have to distribute whatever value-added products they make? I heard just last week that the average African farmer loses 50% of his/her entire crop before even getting to market, thanks to poor transport networks and lack of access to dependable electricity.
- Market-distorting, importation-encouraging forex policies. A "strong" Naira works directly against the interests of farmers, by raising the relative prices of their products against imports.
- Poorly access to financial services. The domestic banks don't want to deal with "mere" farmers unless they're on the scale of Obasanjo's megafarms; the average farmer probably doesn't even have a simple bank account, let alone access to sophisticated financial tools for hedging risk.
Sorry for going into lecture mode, but I think it's very easy to underestimate just how big the obstacles are in the way of our farmers. Hardly any of them are happy remaining small-scale primary goods producers, but they simply don't have any choice in the matter. Innovation is hardly new to Yoruba farmers, who pioneered cocoa as a cash crop in the 1920s in the face of determined opposition from the British, who wanted them to grow cotton or groundnuts instead; the difference between then and now is that the foreign competition has moved on, and to catch up requires a level of infrastructure and capital investment well beyond even the hardest working subsistence farmers today.
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Post by Honorebu on Oct 16, 2017 14:38:12 GMT
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Post by Her Highness on Oct 19, 2017 23:21:01 GMT
Stanbic IBTC Bank empowers SMEs in Lagos and Ibadan
Read more at: www.vanguardngr.com/2017/10/stanbic-ibtc-bank-empowers-smes-lagos-ibadan/STANBIC IBTC Bank has commenced the 2017 SME Capacity Building Series, now in its fourth season for entrepreneurs in Lagos and in Ibadan with six more cities to follow. The bank, in a statement, said: “The sessions provided a viable platform for the bank to equip entrepreneurs, promoters of enterprises and business managers in Lagos and Ibadan with the fundamentals of building a sustainable business in Nigeria, benefits of efficient operations management, value of digital marketing, imperatives of keeping business records, understanding the implication of the activities in growing balance sheets, developing keen eyes on managing cash flows among others “The bank partnered with the renowned China Europe International Business School (CEIBS) whose expert facilitators have a wealth of experience in SME Business Development, Entrepreneurship Development, Entrepreneurial Finance, Business Strategy and Value Chain Development. Abimbola Osuchukwu, a Chartered Accountant, Chartered Banker, Chartered Taxation practitioner and an expert business management training facilitator, took the participants through a section on how to determine required funds to enable business owners manage their cash flows, determine the required funds needed to enable them meet their growth strategy and understand the valuation of businesses and how to manage resources. “Business tips were also given such as financial discipline, setting sales prices right, keeping proper records, preparing annual budget, knowing the differences between profit and cash, manage cash flow properly, getting and reading accounting reports at least weekly, conducting Monthly Performance Review, (MPR), periodically reviewing internal controls and using professional accountant for independent audit, compliance and tax matters. “The entrepreneurs were also exposed to the correlation between brand sales and service. Factors influencing development of the global economy such as the development of e-business channels, greater mobility of labour force and skills, changing consumer demographics, increased importance of common trading areas such as ECOWAS and European Unions. According to the facilitator, going global will compensate falling sales in shrinking domestic markets, enhance and grow sales and profits, lengthen and broaden products life cycles, reduce the cost of production activity, gain better competitive status, improve the dimensions of quality and increase responsiveness to customer needs and satisfaction.” “Other issues treated are customer acquisition and retention, strategy for growing business, efficient use of sales and marketing, challenges of running business in Nigeria such as political, economic, social, technological, environmental and legal. “Head, Enterprise Banking, Stanbic IBTC Bank, Mr. Babatunde Akindele, said the bank is committed to providing the right support and solutions for individuals and businesses to achieve their goals. “Stanbic IBTC boasts of highly trained and motivated staff that have expertise in enterprise financing and support”, he stated. He said following the successfully hosting of the workshop in Lagos closely followed by Ibadan, the series will hold in six other cities across Nigeria, namely Abuja, Kano, Port Harcourt, Aba, Onitsha and Enugu in the days ahead and enjoined enterprise operators in these cities and their environs to take advantage of the seminar to build capacity that can help them manage and grow their businesses successfully. Read more at: www.vanguardngr.com/2017/10/stanbic-ibtc-bank-empowers-smes-lagos-ibadan/
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Post by Honorebu on Dec 12, 2017 8:14:59 GMT
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Post by AgbongboAkala on Dec 16, 2017 6:07:05 GMT
Industrial data show Lagos losing real sector investments to Ogun
November 22nd, 2017 Editor Economy 0 commentsA three-year data dealing with the direction of manufacturing and agro processing investments show that Ogun is elbowing Lagos in new investments. Data by the Manufacturers Association of Nigeria (MAN), analysed by BusinessDay, show Ogun State has over 70 percent share of manufacturing investments in the country between 2014 and 2016. In 2014, manufacturers invested N691.77 billion, out of which N514.87 billion went to Ogun State, representing 74.42 percent of the total . Apapa and Ikeja in Lagos contributed N15 billion and N85 billion to the investments respectively, representing a combined 15 percent of the total. Out of the N180.12 billion invested in the manufacturing and agro-allied industries in Nigeria in the first six months of 2015, N128.3 billion went to Ogun, representing 71.23 percent. Ikeja and Apapa industrial zones got N15.74 billion and N6.98 billion, representing 8.7 percent and 3.9 percent share of the total respectively. Similarly, manufacturing investments worth N309.33 billion were made in H2 of 2015, out of which N302.26 billion went to Ogun, representing 97.7 percent of the total. Apapa and Ikeja shared the remaining less than three percent with other industrial zones across the country. In the first half of 2016, total investments estimated at N54.55 billion were made by manufacturers in the country, out of which N37.51 billion moved to Ogun within the period. This means that 69 percent of all investments within H1 of 2016 were channelled to Ogun State. Apapa and Ikeja shared the remaining 31 percent with other industrial zones such as Edo/Delta, Imo/Abia, Oyo/Ondo/Osun/Ekiti, Kano/Sharada/ Challawa, Kano Bompai, Anambra/Enugu, Bauchi/Benue/Plateau, Rivers, Kwara, and Abia. In the second half of 2016, MAN survey shows that N313.62 billion worth of investments were directed to Ogun out of the total N448.94 billion. This represents 70 percent of the total. Like in the first half, Apapa and Ikeja industrial zones stampeded for the remaining 30 percent investments with other zones. MAN is the largest manufacturing association in West Africa with over 2,000 companies as members. Frank Udemba Jacobs, president of MAN, told Real Sector Watch that manufacturers find Ogun as a good investment destination due to the government’s commitment to industrialisation. “Manufacturers are happy with Ogun because they get incentives from the government,” said Jacobs. Manufacturers say they get tax and land rebates in Ogun, which lowers production cost in the long run. It is also easier and seamless to get certificate of occupancy (C of O) in Ogun, a manufacturer in the food and beverage industry told BusinessDay. There is also a one-stop shop that allows investors to have a single point of contact for their dealings with the various ministries, departments and agencies of the state.The cost of doing business in the state is also less when compared with Lagos.
“ There is less harassment from touts in Ogun and the traffic is light, while there is more available accommodation for staff in the state,” another investor told BusinessDay. Jon Tudy Kachikwu, chairman of the SME Group of the Lagos Chamber of Commerce and Industry (LCCI), said it takes about 30 days for agro processors and SMEs to get C of Os in Ogun. “You know businesses are many in Lagos, so there might be some ‘I don’t care attitude’ from some government agencies. Again , people prefer Ogun because of multiple taxation and cost of the environment in Lagos,” Kachikwu, an agro processor and exporter, said. In the three-year review, more investments moved to Agbara, Igbesa, Abeokuta , Sango-Otta, Ibafo, Mowe, Ijebu-Ode and Sagamu industrial clusters, all in Ogun State. In 2014 alone, new investors such as Shongai Technologies Limited, Ijako in Sango-Otta, Apples and Pears Limited, Ceplas Farms Limited, Greenlife Bliss Healthcare Limited, and Sumo Steel Limited, berthed Ogun. In the last three to four years, manufacturers have either moved from Lagos to Ogun or relocated their factories to the state, leaving only administrative offices in Lagos. Some of the companies that have done that include Fidson Healthcare, May & Baker, Pure Chemicals, Eagle Packaging, Nycil Limited, and Dufil, among others. “Seventy manufacturing companies were established during first four-year tenure of Governor Ibikunle Amosun of Ogun State and both existing and new companies were given some level of incentives and benefits that prompted rapid development in manufacturing sector,” said Bimbo Ashiru, commissioner for commerce and industry, said in 2014. Analysts say Ogun is benefitting from proximity to Lagos. A research done by The Economist in 2015 showed that an average company in Lagos 956 hours per year in paying taxes. However, things are changing in 2017 as the recent Doing Business Index by the World Bank shows some positive changes in doing business in Lagos. ODINAKA ANUDU This content is for Standard & Premium Digital Subscribers only.
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Post by Belmot on Dec 16, 2017 8:24:24 GMT
Industrial data show Lagos losing real sector investments to Ogun
November 22nd, 2017 Editor Economy 0 commentsA three-year data dealing with the direction of manufacturing and agro processing investments show that Ogun is elbowing Lagos in new investments. Data by the Manufacturers Association of Nigeria (MAN), analysed by BusinessDay, show Ogun State has over 70 percent share of manufacturing investments in the country between 2014 and 2016. In 2014, manufacturers invested N691.77 billion, out of which N514.87 billion went to Ogun State, representing 74.42 percent of the total . Apapa and Ikeja in Lagos contributed N15 billion and N85 billion to the investments respectively, representing a combined 15 percent of the total. Out of the N180.12 billion invested in the manufacturing and agro-allied industries in Nigeria in the first six months of 2015, N128.3 billion went to Ogun, representing 71.23 percent. Ikeja and Apapa industrial zones got N15.74 billion and N6.98 billion, representing 8.7 percent and 3.9 percent share of the total respectively. Similarly, manufacturing investments worth N309.33 billion were made in H2 of 2015, out of which N302.26 billion went to Ogun, representing 97.7 percent of the total. Apapa and Ikeja shared the remaining less than three percent with other industrial zones across the country. In the first half of 2016, total investments estimated at N54.55 billion were made by manufacturers in the country, out of which N37.51 billion moved to Ogun within the period. This means that 69 percent of all investments within H1 of 2016 were channelled to Ogun State. Apapa and Ikeja shared the remaining 31 percent with other industrial zones such as Edo/Delta, Imo/Abia, Oyo/Ondo/Osun/Ekiti, Kano/Sharada/ Challawa, Kano Bompai, Anambra/Enugu, Bauchi/Benue/Plateau, Rivers, Kwara, and Abia. In the second half of 2016, MAN survey shows that N313.62 billion worth of investments were directed to Ogun out of the total N448.94 billion. This represents 70 percent of the total. Like in the first half, Apapa and Ikeja industrial zones stampeded for the remaining 30 percent investments with other zones. MAN is the largest manufacturing association in West Africa with over 2,000 companies as members. Frank Udemba Jacobs, president of MAN, told Real Sector Watch that manufacturers find Ogun as a good investment destination due to the government’s commitment to industrialisation. “Manufacturers are happy with Ogun because they get incentives from the government,” said Jacobs. Manufacturers say they get tax and land rebates in Ogun, which lowers production cost in the long run. It is also easier and seamless to get certificate of occupancy (C of O) in Ogun, a manufacturer in the food and beverage industry told BusinessDay. There is also a one-stop shop that allows investors to have a single point of contact for their dealings with the various ministries, departments and agencies of the state.The cost of doing business in the state is also less when compared with Lagos.
“ There is less harassment from touts in Ogun and the traffic is light, while there is more available accommodation for staff in the state,” another investor told BusinessDay. Jon Tudy Kachikwu, chairman of the SME Group of the Lagos Chamber of Commerce and Industry (LCCI), said it takes about 30 days for agro processors and SMEs to get C of Os in Ogun. “You know businesses are many in Lagos, so there might be some ‘I don’t care attitude’ from some government agencies. Again , people prefer Ogun because of multiple taxation and cost of the environment in Lagos,” Kachikwu, an agro processor and exporter, said. In the three-year review, more investments moved to Agbara, Igbesa, Abeokuta , Sango-Otta, Ibafo, Mowe, Ijebu-Ode and Sagamu industrial clusters, all in Ogun State. In 2014 alone, new investors such as Shongai Technologies Limited, Ijako in Sango-Otta, Apples and Pears Limited, Ceplas Farms Limited, Greenlife Bliss Healthcare Limited, and Sumo Steel Limited, berthed Ogun. In the last three to four years, manufacturers have either moved from Lagos to Ogun or relocated their factories to the state, leaving only administrative offices in Lagos. Some of the companies that have done that include Fidson Healthcare, May & Baker, Pure Chemicals, Eagle Packaging, Nycil Limited, and Dufil, among others. “Seventy manufacturing companies were established during first four-year tenure of Governor Ibikunle Amosun of Ogun State and both existing and new companies were given some level of incentives and benefits that prompted rapid development in manufacturing sector,” said Bimbo Ashiru, commissioner for commerce and industry, said in 2014. Analysts say Ogun is benefitting from proximity to Lagos. A research done by The Economist in 2015 showed that an average company in Lagos 956 hours per year in paying taxes. However, things are changing in 2017 as the recent Doing Business Index by the World Bank shows some positive changes in doing business in Lagos. ODINAKA ANUDU This content is for Standard & Premium Digital Subscribers only. However, the ogun state government is not moving at the same pace with infrastructural development such as roads, healthcare and education. population explosion in ogun state is inevitable.
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Post by AgbongboAkala on Dec 16, 2017 12:19:06 GMT
Interesting!
The underlined shows the secrets of Ogun State in establishing itself as the industrial hub, why can't other states copy this template? Once a template is working, it can't be adopted and then adapted to various environments. Probably, DAWN should stream
Apart from the proximity to Lagos market, another bonus for the investors in Ogun is also the West African market through the Idiroko border.
In Ondo, it's like Arakunrin is also focused on industrialisation but the people are not always ready for a long time project. They seem impatient because of Mimiko's precedents. They always mock him that the only project he has been able to commission in his almost one year is monthly salary. He has been signing MOUs but people want to see results. Anyway, I wish him good luck.
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Post by Honorebu on Dec 16, 2017 13:27:56 GMT
Belmot, like you knew what was going on in my mind.
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