A group of Nigerians in the Diaspora have concluded plans to establish N9bn automobile assembly plants in the country under the patent called Zhope Automobiles.

The group is led by a professor of engineering systems and Director, Machining Research Centre, Faculty of Engineering Science and the Built Environment, London South Bank University, Prof. Emmanuel Ezugwu.

Displaying a model of a 15-seater air-conditioned bus at the premises of the National Automotive Council in Abuja, on Wednesday, Ezugwu said that the plants would manufacture and assemble made in Nigeria automobiles in the six geopolitical zones of the country.

He said, “This innovative project incorporates over 25 years, research and development experience in the area of advanced manufacturing technology for sustainable development.

“We are working with local resources on the ground to put forward a technology road map that will serve as a hub for vehicle export to other parts of West Arica.”

Speaking during the event, the Chairman, Zhope Automobiles, Mr. Marcel Ezenwoye, noted that the project would commence by the first quarter of 2011, adding that the plants had been structured to create about 14, 000 jobs in Nigeria.

He said, “There is a projection that not less than 4,000 jobs will be created on the line function and over 10,000 in ancillary related services centres.”

“The training policy of Zhope envisages the training of local engineers like the roadside mechanics, who will in turn train other middle level operators in Zhope automobile technology. For this reason, Zhope’s technical partners from Europe and China will come to Nigeria for the training and technical support.”

He noted that discussions were currently going on with the National Automotive Council for the domestication of Zhope brand in Nigeria.

Ezenwoye said, “We have a forecast of an average monthly sales of 100 number of buses and an annual gross of 1,200 number of buses. Zhope intends to initiate the KDK strategy with a view to reducing overall production cost per unit of the buses. Our target is to get up to 40-50 per cent local content to minimise importation by 2020 if we have the enabling environment for manufacturing.”

1 person likes this post.

Unlike

Going by our research, industrial starch (whether from corn, cassava, potato or rice, etc) is one of the fast selling products in the international market.

For this product to attract very high demand and higher prices, it must be well-processed and must maintain very high acceptable international standards, and must be handled with the deserved professionalism. This is a profitable project to invest on this year 2010.

Market position
The demand for industrial starch is world wide. This product is highly demanded in Netherlands, France, United Kingdom, and Federal Republic of Germany. It is also widely demanded in Taiwan, Asia, and USA. The local demand is also encouraging. Starch can be produced in dry or wet forms. Both wet and dry starch is needed in Europe. It has a lot of industrial uses, and can be used as ingredient in the preparation of bread, custard, sauce, snacks, pap. The industrial uses include textile, book binding, glue making, paper board, batteries, cosmetics, paint and soap. Starch is also used in weaving, spinning, and dye works, paper boards, dressing paints, leather adhesive, paste stamps and carpets.

It can also be used in artificial honey, fruit juice sweets, beer, and canned fruit confectionaries and pharmaceutical industries. Because of different uses starch can be subjected to, global demand is over 18 billion metric tons per annum. The supply on the other hand has not been encouraging in the international market. Apart from Zaire and Brazil which supplied a total of 18.2 million metric tons in 1999 and 26.5 metric tons in 2001, the gap has been longing for bridging. There is a gap of about 16.3 billion metric tons of starch for industrial uses; therefore, there is plenty of cassava and other root crops or tubers in Nigeria for the production of world starch requirement.

Plants, machinery and equipment
The major equipment needed include cassava peeler, sifter, slicer, grater, extractor, pulveriser and dryer (if dry starch is required), hammer mill/disintegrator, automatic or semi automatic weighing, and packaging machine and sitches/seakers. Production capacity of the machine under consideration has a full capacity of 10 metric tons of starch per day on two shifts. This implies that about 75, 000 metric tons will be produced in a year.

Quality, packaging standards
It should be noted that this product is demanded in metric tons by end users. It is therefore advisable that the end product be packed as such and to maintain the international market water content standard of about 8 percent. The product is packaged in 100kg jute bags for export. How the products should be preserved to avoid producing irritating odours will be discussed when we are contacted for further clarifications by prospective investors.

International prices/foreign markets
The price fluctuates between $650 and $800 per metric ton. Locally, it is sold between N42, 000 and N45, 000 per metric ton. Prospective investors would be assisted in the area of getting foreign buyers at reasonable prices.

Financial implication
The project can be started on a medium scale of N10.6 million as shown below. Since the machine produces 75,000 metric tons per annum, working for 300 days, the total sales revenue at full capacity will be $18.6 million within the first year of operation. Realising however that our industrial capacity cannot be realised, the capacity is placed at 50 percent, resulting in total annual income of $9.4 million (N1.3 billion).

Having considered the availability of raw materials, convincing technological position, government encouragement to non-oil export-oriented investors and availability of human resources, as well as huge profit margin from exporting this product; we recommend this project to Nigerians to invest in. Uba Godwin’s contact: Tel: 01-4721550, 01-7349363; 08023664368, 08034494437, Email: “mailto: ubagodwin@yahoo.com

Like

Unlike

Pam Patsley, Chairman &Chief Executive Officer of Moneygram International, visited Nigeria recently as part of  efforts to gain a better understanding of the market, customers and different cultural practices.
In a chat with Princewill Ekwujuru and Moses Nosike,  she posits that money transaction volume has increased six times in the first quarter. Read on.

How long has MoneyGram been operating in Nigeria?

MoneyGram started operating in Nigeria in 1998 and has steadily expanded its network of well established and respectable banks.

Pam Patsley

What is your assessment of the Nigeria Remittance Market?

Information we have indicates that the Nigeria Remittance Market is worth over $10bn annually. We believe the market shrank a little in 2009, as a result of the global economic crisis and its effects on employment statistics for migrant workers in key corridors. With the easing of the financial crisis, especially in the US, we expect remittances to Nigeria will experience positive growth.

Our business has experienced good growth both in terms of number of transactions, value and our network. We have been able to achieve this modest growth thanks to the support of our agent banks. With new agents and additional network, we expect our business in Nigeria to grow tremendously in the coming years.

How significant is the First Bank launch of MoneyGram service? Will MoneyGram be signing any more agents in Nigeria?

We are happy to have signed on First Bank and to have the MoneyGram service delivered through an additional 500 First Bank locations nationwide. This will make the MoneyGram service more accessible and convenient to many more customers.

In many markets where we operate, any new agent brings in its wake increased transaction growth and we expect this to be the case with First Bank.

MoneyGram will continue to forge alliances with credible financial institutions as the laws of Nigeria allow to bring our services even closer to our customers. They are a few more agreements in the pipeline which should be concluded over the next couple of months.

What is MoneyGram doing in the area of fraud prevention in Nigeria?

MoneyGram has initiated key actions to combat fraud in Nigeria; Key amongst them are;
Successfully implemented the locking down of a transaction to the location that first viewed

Have added as compulsory a receiver questions for all our transactions in Nigeria to provide additional security
We continue to provide periodic compliance training for the compliance officers and product managers of all our agents.

MoneyGram’s Director of fraud from the U.S. visited Nigeria in April this year,, organizing workshops for all our agents in Nigeria and also meeting with enforcement agencies to presents MoneyGram’s anti-money laundering and compliance efforts

The Regional Compliance Manager for Africa  also visited Nigeria to meet with the EFCC (law enforcement agency) and the agents and present MoneyGram’s efforts on anti-money laundering and compliance generally. The feedback from both events has been very positive.

MoneyGram is also working with agents to restrict locations that pay out fraud induced transactions.
We continue to collaborate with key regulatory authorities i.e. Central Bank of Nigeria, Economic and Financial crimes commission (EFCC) and Special Fraud Unit (SFU).

1 person likes this post.

Unlike

If the proposal of the Nigerian Investment Promotion Commission (NIPC) passes through, unemployed Nigerians will earn N25, 000 monthly in a welfare scheme.

Like

Unlike

The Federal government yesterday raised hopes of a major break-through in the country’s effort developing alternative mineral resource  aside from oil and gas, when it revealed the discovery  of gold to the depth of 3,000 meters with an estimated two million ounces in the Western part of Nigeria.

The Minister of Mines and Steel Development, Mrs. Diezani Alison-Madueke who disclosed this at the presentation of the World Bank-sponsored Nigerian Airborne Geophysical Survey Data phase II in Abuja,  said the import of the latest development is that Nigeria may well be on her way to joining  countries like Ghana in supplying gold to the world market.
According to Madueke, a  coring done last year by the small mining companies, to the depth of 3,000 meters, has proved more than 300,000 ounces, with 2 million ounces estimated..

“ The importance of this fantastic piece of news is probably best appreciated within the context of the knowledge  that Nigeria has gold schist belts in the western half of the country that are very similar to those of Ghana”, she said.
She said  surveys have shown that Nigeria is richly endowed with a range of solid minerals which if properly managed and exploited may in the near future become the engine of our national economic growth.

She said the Ministry has decided to place special focus on seven of the minerals which includes,  bitumen/tar sand with estimated reserves of 27bn barrels of oil equivalent, coal (2.7 billion tonnes), iron ores (3 billion tonnes), limestone (2.23 billion tonnes), barytes (14 million tonnes) and lead/zinc sulphides one million tonnes) .

Madueke described the completion of the geophysical survey phase II as something that would facilitate  mineral exploration, ground water prospecting, pollution and geo-hazard monitoring.

“The survey also measures the Digital Elevation Model (DEM)  and Shuttle Radar  Topographic Mission (SRIM) which provide detailed information on terrains, vegetations, landforms, settlements, roads and drainages.  The data is therefore extremely useful in security   surveilance and development planning”, she said.

The Minister further said plans are underway geological, mineral and geo-chemical mapping of the country with a view to providing all the necessary data  needed  to adequately tap the mineral resources to our economic advantage.

She said the Ministry is putting in place a genstone certification process, adding that it has reached aggreement with internationally renowned Nigeria-born Jeweler to design a Jewelry line, using exclusively Nigerian gemstones.

This line of Jewelry will be launched for the international and domestic market in March this year, she said.

Earlier, the geologist involved in the preparation the survey data, Prof. Collins Reeves said a mechanism will be put in  place to enable interested scientists to study, interpret and analyse the geophysical survey data and that the outcome of their study will be made public next year.

He said the experience of Brazil could be helpful in Nigeria quest  for effective utilization of solid mineral resources.

Like

Unlike

Region Kwara Nigeria

Sector Agriculture & Agri-processing, Energy

Foreign and local investors have the opportunity to invest in the production of ethanol in Kwara State, situated in central Nigeria.

Investment Opportunity

Cassava, an edible starchy tuberous root, is grown in large quantities across Kwara State and well suited for the production of ethanol. Ethanol is generally produced by the fermentation of sugar, cellulose, or converted starch. Apart from food and pharmaceutical uses, ethanol is finding itself alternative use for biofuel in most of the developed world.

Investors looking to process cassava into ethanol can either cultivate their own crops or buy from local farmers. Many of the ‘new Nigerian farmers’ from Zimbabwe are currently involved in the commercial cultivation of cassava. Alternatively the oil from the seeds of the Jatropha plant can also be used for ethanol production. Kwara State’s climate and soil is conducive for the growing of Jatropha.

The federal government has introduced Nigeria’s Biofuel Production Programme to establish a thriving a fuel ethanol industry by utilising agricultural products. A number of incentives have been introduced to stimulate Nigeria’s biofuel industry. These include:
# Pioneer Status All registered businesses engaged in activities related to biofuels production and/or the production of feedstock for the purpose of biofuel production and co-generation within the country shall be accorded Pioneer Status within the provisions of the Industrial Development (Income Tax Relief) Act.
# Withholding tax on interest, dividends, etc.
# Waiver on import and customs duties
# Waiver on Value Added Tax Biofuel companies that are involved in the production of biofuels feedstock; or the production of biofuels and/or the generation of electricity from biomass shall be exempted from payment of Value Added Taxes on all products and services consumed by them.
# Long term preferential loans

Reasons to Invest in Kwara State

Incentives: The Kwara State Government is willing to extend a number of incentives to serious investors. These include the provision of land and infrastructure, tax holidays and assistance with obtaining financing.

Labour: Kwara State is home to the well-respected University of Ilorin and construction of the new Kwara State University will soon be completed. Kwara State therefore has a large number of graduates who can be employed by companies investing in the state.

Cargo terminal: A new cargo terminal at the Ilorin International Airport will soon be completed and will allow for goods to be transported via air, both locally and internationally.

Power supply: Due to the recent completion of the Ganmo sub-station, the state capital, Ilorin, currently enjoys very close to 24 hours a day of uninterrupted power supply. Many business owners are delighted by the fact that they have to make very little use of generators.

Political will: The government of Kwara State is devoted to creating an enabling environment for business and investment. The state is also committed to continuity of policies which will ensure that an investor friendly environment remains even after the end of the current administration’s tenure.

Investment insurance: Nigeria is a member of MIGA (Multilateral Investment Guarantee Agency) and the ICSD (International Centre for Settlement of Investment Disputes). Potential investors are therefore insured against a wide range of non-commercial risks.

Contact Details Investors interested in this project should contact Fela Ibidapo, Special Assistant to the Executive Governor, Kwara State (Investments) at felaibidapo@gmai

Like

Unlike

Nigerian-owned Mainstreet Technologies’ Main One Cable will connect countries in Africa to those in Europe, becoming the second competitive cable (after the Glo-1 Cable) in West Africa by June 2010.

The Main One Cable Company has concluded the shore-end laying of its undersea fibre optic cables in Lagos, Nigeria and Accra, Ghana respectively.
The shore-end cable laying is a critical intermediary procedure to install the undersea cables on the shores of countries in which the cable system is expected to berth.
This in preparation for the end-to-end laying of the full stretch of the fibre optic cable from its origin in Portugal.

Funke Opeke CEO, Main One Cable

Funke Opeke CEO, Main One Cable; Main One Cable is the Second Competitive Cable Planned to Give Broadband Access to West Africa by 2010.

With the Bachelor of Science degree in Electronic and Electrical Engineering from the Obafemi Awolowo University, Ile-Ife, in 1981, Opeke proceeded to Columbia University, New York, United States of America, where she obtained a Master of Science Degree in Electrical Engineering in 1984.
Funke has been described as an industry veteran of highly competitive environments with over 20 years experience as a telecommunications executive.

She is a highly accomplished and results-oriented engineer who has worked in several major telecommunications companies in the United States with her most recent appointment prior to her return to Nigeria being as the Executive Director, Performance Assurance, Verizon Communications, one of the largest telecommunications companies in the world.

Opeke joined Verizon Communications as Executive Director in 2001. Between 2001 and 2005, she managed different portfolios including the Business Architecture and implementation of Verizon’s global backbone network; Global Managed Network Services, and Performance Assurance for the Wholesale Services Line of Business.

She had held senior positions at several other companies in the United States including Telcordia Technologies (Bellcore), Piscataway; AlliedSignal Corporation, Morristown; PA Consulting Group, Highstown; and RCA American Communications.

Following that she moved to MTN Nigeria where she was the company CTO, her responsibilities included the planning and management of the entire MTN Nigeria network.

At the time of her engagement, MTN Corporate Services was quoted as saying that Opeke’s appointment is evidence of MTN’s commitment to recruit the best Nigerian brains and to contribute to the development of Nigerian human capital.

2 people like this post.

Unlike

China keen on Nigeria's oil reserves

Groups to dig deep for leases

Three of the world’s biggest oil companies are poised to pay hundreds of millions of dollars to hold on to prime concessions in Nigeria following keen Chinese interest in the planet’s 10th richest crude reserves.

ExxonMobil, the largest US oil group, is to pay a “signature bonus” of as much as $600m after securing a new 20-year lease to three blocks it has operated for four decades and which currently produce 580,000 barrels a day, people familiar with the situation said.

Royal Dutch Shell is close to finalising similar renewals that might see it surrender some concessions, industry insiders said, while Chevron, the second placed US group, is yet to agree a deal even after some of its leases expired at the end of last month.

The negotiations underscore the importance of Nigeria’s oil, both to western groups whose traditional dominance is weakening, and to the country’s government, which depends on petroleum revenues for 80 per cent of its income.

Militant attacks in the oil-producing Niger Delta, coupled with under-investment, have seen production fall well below capacity in recent years.

The leases expired a year ago but were extended for 12 months. Shell took out a court injunction to prevent any change of ownership before entering talks.

Few people expected big oil groups, which have been the mainstay of the industry through its 50-year history, to be ejected from blocks they operate as minority partners in joint ventures. But one person familiar with Exxon’s renewal talks said they were like “a cliff-hanger”, and concluded only days before the leases lapsed.

Cnooc, the Chinese state-owned oil company, in June sought to buy stakes in 23 blocks – including some of those up for renewal – in order to secure as many as one in six of Nigeria’s 36bn barrels of reserves.

Cnooc is willing to pay up to $50bn for the stakes, Nigerian officials said, but it may be granted far fewer than it is seeking.

Odein Ajumogobia, minister of state for oil, has said the government would be willing to sell part of its own holdings in the joint ventures to the Chinese.

Several people with knowledge of the renewal talks said the competition from China – which has signed several big energy deals in Africa to fuel its growth – had strengthened the government’s hand.

The Nigerian government hopes to use the money raised from the leases to plug part of a $10bn deficit in next year’s budget, a senior official said.

The companies declined to comment.

Copyright The Financial Times Limited 2009.

Like

Unlike

Do you want to visit Nigeria for free?

Coming soon on this website, your dream opportunity to see Nigeria before you decide to relocate.

• Are you fed up of the USA, Europe or wherever you might be?

• Do you want to take part in a TV Show?

• Is the recession hitting you hard?

• Have you ever thought of relocating to Nigeria or investing in a country that is still growing while many others are in recession?

• Perhaps you are just curious enough to see for yourself ?

You have come to the right place.

We are launching a TV show focused on showcasing the opportunities of investing or settling in Nigeria.

It will cover all aspects of your visit to Nigeria:

• right from your arrival at the Airport,
• to your Hotel,
• to Job search & investment/business  meetings (arranged by gateway nigeria)
• visits to places of interest.
• read more here

If you want to be the first to get more exclusive details of this free trip.

Leave a comment below by answering this simple question:

“Who was the first ever President of Nigeria?”

Leave your answer in the comments box below to get exclusive details of this free trip.

2 people like this post.

Unlike

In 1989, I stumbled upon a study on sugar. It was stated then that, in 1986, France produced a ton of sugar at a cost of $700 but was selling same to African countrres at half the cost price. The question was how could France sell sugar at half its production cost per ton? In that study, it was revealed that the actual objective of setting up sugar factories in the advanced economies was not primarily to produce sugar. It was revealed that the by-products of sugar cane after extracting sugar molasses, filter-cakes and bargess are in turn raw materials for 18 different strategic industries such as industrial yeast, industrial alcohol, shoe polish, ceiling boards, glass lamination etc and these subsidiary industries were the actual reasons for setting up the sugar factories.

Thus, instead of the advanced economies allowing African countries to intensify domestic production and achieve multiplier effects, they sold sugar to our countries at rock bottom prices to discourage our nations from producing. They know the potentials of sugar are almost equivalent to oil in any serious economy. As at that year, 1989, Nigeria was producing only 4% of her consumption rate. In spite of the setting up of the Nigeria Sugar Development Council by the Abacha administration, little improvement was done. Instead, the richest Nigerian entrepreneur today, Dangote, owes his rise to the billionaire club largely on sugar importation at the initial stage.

Despite the global turbulence in commodity prices in the last 12 months, there has been one surprise star performer – sugar. Prices have risen 86% this year to reach a 28-year high at the end of August. Prices have, in fact, more than doubled since January 2008. With the market as a whole facing an estimated deficit of 7.8m tons this year – equivalent to 3.8% of global output – it is understandable that prices have risen. Many factors contribute to this. In Brazil, the world’s largest producer, there was too much rain, and the cold weather has not helped either.

Indian production fell from 28.6m tons to 16m tons due to a poor monsoon season, and restricted growth in planting due to weak prices last year. In 2008, India’s population consumed around 15% of global production. Indian production is not expected to meet demand before 2011 and problems in Pakistan, Russia and Thailand – not to mention the effects of a possible EI Nino – explain the steep rise in prices.

African producers, accounting for 6.4% of global production, and who among them have probably greater capacity than other current large producers to expand their output, may well be set to benefit from the high prices. Africa already does rather well with its sugar trading accounting for 7% of global exports. Its share of global consumption has swollen from 3.9% in 2000 to 4.9% in 2007. This share is likely to continue growing.

As a country’s income grows, there is a tendency for its sugar consumption to grow too, although this tends to plateau at around 35kg per capita year amongst middle-income countries. India’s rapidly growing appetite for sugar has meant that the country is now the world’s largest consumer of sugar, although Brazil remains the world’s greatest per capita consumer. Only Gambia (53.8kg) and Swaziland (97.4kg) consume more than this in Sub-Sahara Africa. Countries with per capita consumption substantially below the global average are likely to see that consumption rise.

Sugar still remains a cheap source of calories for consumers, so demand is likely to remain resilient globally, if static in the face of downturn and high prices. In Africa, consumption of sugar is expected to rise. The increasing significance of sugar as a source of ethanol for fuel is also driving demand. Brazil has had enormous success with this fuel source, a policy it pursued to improve energy security in response to the 1970s’ oil shock.

Other nations are also following suit. President Omar Hassan AI-Bashir has just opened Africa’s first sugar-to-ethanol plant in Sudan, utilizing sugar from one of Africa’s biggest sugar plants in Kenana. The plant was built with Kuwati support. Nigeria is also looking to emulate the Brazilian bio-fuel model, following a memorandum of understanding between the two countries in 2005 and the recent visit of President Yar’Adua to Brazil a few weeks ago.

With 30m/tons per hectare yields the global average, Nigerian 15m/tons per hectare yields have plenty rooms for improvement. Nigeria has 400,000 hectares of land suitable for high-yield sugar-cane production and the country is seeking to increase its production of sugarcane. Feasibility studies are looking along the course of rivers Niger and Benue. Some of the new production is scheduled for bio-fuels. Sugar production potentials is unlimited in the country. Recently, Nigeria’s biggest sugar refiner, Dangote Sugar, announced profits of N21.87bn ($149m) – up 2% on last year. The company is the major supplier of sugar to the nation’s beverage manufacturers. Indeed, the next major growth sub-sector in the economy may be sugar

Written by Abba Mahmood

1 person likes this post.

Unlike

By Olayinka Latona

In order to check or eliminate the taboo associated with the social vulnerability of People Living With HIV/AIDS in Nigeria and to signify a major landmark in the campaign against HIV/AIDS, Mannerism Communications (MACOM) in conjunction the body of People Living with HIV/AIDS (PLWA) and the National Agency for the Control of AIDS (NACA)is hosting the first ever “Miss Positive, Nigeria “beauty pageant.

The contest is unique as it is aimed at developing a national movement for an intensive awareness campaign against HIV/AIDS stigmatisation with primary focus on youths and adolescents.

The event is scheduled for November 23- 28, 2009. Suzan Olori, Project Manager, noted that the eventual winner will reign for one year and will be responsible for executing an HIV/AIDS project in several communities in Nigeria.

Project Director, Mr. Ojo Martins, told Good Health Weekly that the Miss Positive beauty pageant seeks to promote openness, an active lifestyle and tolerance for PLWA in all spheres of life. He said the beauty contest is going to involve both HIV/AIDS positive and negative women, aged 18- 28.

“This contest is going to be an annual event. Our aim is to promote openness and active life styles for those infected and thereby sensitise the populace. The avenue will also provide a unique opportunities for brands to come-up close with the general public through their corporate social responsibilities.”

Apart of the essence of Miss Positive beauty pageant, Ojo said the event is also about networking with PLWA. “Miss Positive is beyond gathering of people and telling them about HIV/AIDS or advising them to use condoms. Rather it is coming out to tell the world that I am positive and how do the people protect me and my interest? It is different from other approach or what we are used to.

“It is an approach where anybody that is positive is proud and once he or she knows that he will not be stigmatised, it will be easier for such person to live an open life.

1 person likes this post.

Unlike