Life is short,have fun!!!

Lifestyle, Travel & Photography. If you want a lifetime memory, take a photo.

Archive for the tag “Africa”

Nestle Nigeria Grows Profit by 140%

Olusegun-Osunkeye.jpg - Olusegun-Osunkeye.jpg

Chairman,  Nestle  Nigeria,   Olusegun Osunkeye

 

As investors continued to savour the N12.55 dividend per share they received from Nestle Nigeria Plc for the year-ended December 31, 2011, the company has begun 2012 on a positive note.

The company has announced a growth 140 per cent  in  profit after tax  from N2.571 billion to N6.173 billion for the first quarter ended March 31,  2012.

Specifically,  Nestle recorded a  turnover of  N28.674 billion in Q1 of 2012, showing an increase of 41 per cent above the  N20.383 billion in the corresponding period of 2011.

Gross profit rose by 42 per cent from  N8.419 billion to N11. 997 billion, while  profit before tax  soared by 113 per cent  from N3.455 billion to N7.349 billion.

A statement by the Corporate Communications and Public Affairs Manager of  Nestle Nigeria, Dr. Samuel Adenekan, last Friday, quoted the board  of directors as describing the  Q1 results as exceptional and in line with management expectations.

“The good performance in the period under review was attributed to capital investment in various infrastructural upgrades at Agbara (Ogun State) factory as well as additional sales activities in March,” the directors said.
According to the company, additional ‘stock build’ was required in Q1 one for a smooth transition to a new ultra-modern distribution centre under construction in Agbara.

“The new N5.4 billion warehouse facility is designed to manage the capacity increases following massive infrastructural upgrades at Agbara factory in the last four years for volume increase. Once completed, it is expected that the new distribution complex will see the company growth for the next 10 years,” the  directors   added.

They added that that these  results should not be extrapolated for the rest of the year, assuring stakeholders of continued commitment of Nestlé management to the earnings forecast for 2012 already communicated to the Nigerian Stock Exchange.

Speaking at the company’s annual general meeting recently, its chairman, Chief Olusegun Osunkeye said its impressive results in the recent years and 2011 in particular resulted from Nestlé Continuous Excellence.

“This an initiative in operational efficiency which enables the company to eliminate waste, increase efficiency and effectiveness, and improve quality in all operations. The company was able to maintain the positive momentum towards sustainable, profitable and capital efficient growth because of the mix of short –term performance with long-term thinking. This enabled Nestlé to deliver improved top and bottom-line performance whilst also investing in longer-term growth platforms,” he said.

He added that in pursuit of the company’s nutrition, health and wellness agenda, Nestlé had implemented relevant innovation targeting the needs of low-income consumers most likely to suffer from micronutrient deficiencies.

 

Source :Thisday

A Nation Under Fire – Dele Momodu

0101dele-momodu-backpagex.jpg-.jpg - 0101dele-momodu-backpagex.jpg-.jpg

“Everything continues in its state of rest or uniform motion
Except an external force acts on it”
– Isaac Newton, First Law of Motion

Fellow Nigerians, it must be miserably obvious to everyone by now, except the incurable optimists, that Armageddon is here. You don’t have to be a prophet of doom to foretell the apocalypse that has enraptured our embattled nation. If we ever thought otherwise, those who should know more than the rest of us have succeeded in jolting us out of our somnambulism.  And it has been a rude awakening from a deep slumber that could only have been an act of the almighty.
First, came the bombshell from no less a personage than our National Security Adviser, General Andrew Owoye Azazi. The occasion was an innocuous event tagged The South South Economic Summit, which had been a gathering of distinguished speakers, eminent personalities and assorted spectators, from far and near.  No one had anticipated any more volcanic eruption after the volatile delivery by the one and only Kongi of Africa, Professor Wole Soyinka. In fact, my belief was that everything was going to be an anti-climax after listening to the Nobel Laureate in what must have been one of his best performances in recent times. General Owoye Azazi put paid to my prejudice.
When the former Chief of Defence Staff took the podium, I was looking forward to one of those government rigmaroles, or a pot-pourri of lies that would wake up the dead in Bethlehem. But General Azazi turned out to be a born again preacher who sneaked into our consciousness unannounced. He was expected to speak on the state of security in Nigeria and address how it affects the South South, the region that currently lays Nigeria’s golden eggs. Thanks to Channels Television, I was glued to my screen and watched as General Azazi waltzed his way through a most delicate and sensitive topic.
He had started on a calm note and built his thesis, slowly but surely, to a resounding crescendo. His famous moment came when he suddenly exploded like an Iraqi bomb and placed the blame for the general insecurity in Nigeria at the doorsteps of no other than the ruling party, PDP, thereby committing an unprecedented heresy that would haunt him and the government he represents. The appreciative crowd had nudged him on with a thunderous ovation as he fired the first salvo. As if that was the tonic he badly needed, he paused to acknowledge their cheers, before firing more bullets from his well-oiled cylinders.
General Azazi was not just saying what many of us had always known or suspected, he said it with a straight poker face. He was eloquent and magisterial. But he had chosen to hold the tiger by the tail. I knew that the PDP hawks were going to come after him with a vengeance and try to shoot him down with the efficacy of American drones. It is in the character of these rascally guys to maul down anyone of their own whoever goes against the commandments. None of their members has ever been prosecuted for corruption until he falls out of favour with the Party’s political godfathers and warlords.
But I doubt if General Azazi was not aware of the unwritten codes or he just chose to challenge fate and secure his own future. His speech was a veritable distraction that President Goodluck Jonathan did not need. He had suffered enough nightmares in the last couple of months and could do without more. But his most trusted ally and kinsman had chosen to tell in public what he had probably told him privately without any useful impact. If nothing ever moved our dear President in the past, this act was guaranteed to move mountains and elicit some shock waves in high places. And it did.
A devastated Jonathan was visibly embarrassed to the extent that he had to offer a tenuous excuse that his National Security Adviser must have been misquoted; a perfect alibi for a bruised ego. As I write this piece, the storm is still raging and its eventual destination is not yet known. What is most certain is that things are no longer at ease and the centre may no longer hold.
As if that was not bad enough, Lt. General Theophilus Danjuma came out to tell it in his characteristic manner that Nigeria was under fire and may be heading for the atrocious way of Somalia. For those who have studied the life of Lt. General Danjuma, he’s not someone who’s given to frivolities. On a regular day, Danjuma’s taciturnity is legendary while on a special day his words are few and carefully chosen. He minds his own business, and he is very astute at it. Love him or loathe him, General Danjuma has demonstrated that there’s life outside power, and that army retirees can run businesses successfully without waiting for hand-outs from their successors. He’s one of our most respected retired Generals at home and abroad, and when he speaks, he’s the voice of the military fraternity. He’s fearless just as he’s feared by his contemporaries and subordinates.
I know for a fact that General Danjuma only comes out once in a blue moon to intervene in public discourse. When such a man speaks, we must listen. A few days ago, he spoke like the oracle that he is. It is not a mere coincidence that two army Generals who literally walk in the corridor of power spoke the minds of millions of Nigerians within one week. What they are telling us in very few words is that when a handshake goes beyond the elbow, something has gone terribly wrong. The situation in Nigeria has become totally dangerous with the entire citizenry going neurotic. Everywhere we turn, the story is bad news and unmitigated disaster. The Somalisation of Nigeria, as Danjuma describes our precarious situation, would certainly spell doom for Nigeria and ultimately the whole of the Africa sub-region, and indeed beyond. It is one major reason why the interventions of these experienced, retired army Generals should not be dismissed with the usual lackadaisical attitude of the ruling government.  This is not the best time to bury our heads in the sand like the ostrich and pretend that all is well with us. If we don’t know where we are going, we should at least remember where we are coming from. Only fools travel, the way we do in these parts, without having a map of our direction.
Now that bombs are flying undetected like UFOs, the time has come to accept our helplessness in handling the Boko Haram issue in particular. It is obvious that those who want Nigeria destroyed at all costs are more powerful and determined than those saddled with the responsibility of protecting our nation. Even the league of senior Christians seems to have lost all hope in a man they fervently supported only this time last year. They are no longer in doubt that their man lacks the capacity to combat a crisis of this magnitude while Boko Haram has left no one in doubt of its incredible capabilities. I will not get tired of pleading with our wonderful government to face brass tacks and firstly admit its gross inability to deal with common criminals and not tell us it can handle the highest form of terrorism ever known to many shores.
Someone should tell us how many Nigerian lives need to be wasted before our government owns up to its abject ineptitude and abysmal failure in protecting their lives and securing their properties. All we hear daily are empty promises that are never matched by any concrete action. As a matter of fact, presidential reaction has come in mere clichés. As someone noted on Twitter days ago, there seems to be a template for these releases and government only inserts the location of each new act of terror. This is because the words used are predictably similar and never good enough. Too many lives have already been wasted and those lives are too precious to their families if not the government. We cannot continue to hinge our hopes and faith in mere words of a failed leadership in a failed state.
If the President must know, I can tell him for free that his aides are not helping matters. They are too reckless and fatalistic. Their combative nature has made it impossible for them to listen to any voice of reason or wisdom. The added fact that they are completely paranoid and see the President’s enemies in even natural disaster is an invitation to more chaos. I suggest they purge themselves of the arrogance of “this is our time and we shall do what we like till the next election comes; we will battle you with more than enough money to win a second term mandate, and let the heavens fall” because this may turn out to be a fallacy and a misplaced delusion of grandeur.
Rather, what the Presidential aides need to do urgently is fight less and put on their thinking caps before our ship of state sinks like The Titanic. It costs nothing to be humble in power. Heating up the polity the way they are doing can only spell doom of unprecedented proportions.
Without being simplistic it is apparent that the major cause of the unbridled unrest in the Country is the extreme poverty in the land.  Poverty of self, education, ideas, development and the State itself have hands in our matter. Poverty is not always economic.  Government must take urgent steps to correct these anomalies which can only cause untold damage to our collective psyche.
Where do we go from here? A few tips will suffice for now. Government must begin to show some seriousness in handling the affairs of state by declaring visible austerity measures on itself. It would be useful to learn from our neighbours in West Africa how they have moved from penury to prosperity. Our education, for example, and other key areas begging for attention, will never improve if politicians continue to spend recklessly on themselves while neglecting their primary responsibilities to the people. Our President must find the courage and charms to gather all politicians and ignite a new vista of hope. He would succeed in doing this only if he can lead by example. The people under him are watching his expensive style of governance and would never agree to downgrade theirs. He needs to get experts to look at how politicians can be forced to cut down on the waste and drain of our resources, starting from the very top.
President Jonathan must urgently water down the powers, responsibilities and functions of the Federal Government by divesting government interests in many businesses, agencies and corporations. It is obvious to all reasonable Nigerians that central government has not been able to fix any of our problems despite the trillions that we have been pumping into various so-called projects of developmental value. This calls for a redirection of how we conduct business in Abuja.  These powers and functions must be transferred to the energetic private sector.  That is the major way in which our country can truly develop. Of course it is also necessary for true federalism to be practised so that the allure of the centre which is also majorly responsible for the crisis we are embroiled in can take on much less significance.
If our present style has failed to yield desired results, it is only pertinent to try something new and effective. Until we stop the rot in government and offer succour to the citizenry, we shall continue to build a community of frustrated and desperate people who are willing and ready to make life uncomfortable for the rest of society.
I can only hope that someone, somewhere, is reading and would be willing to act before it is too late.

Source :Thisday

Letter to Archbishop John Onaiyekan

By Pius Adesanmi

My Lord, the Archbishop of Abuja Diocese,

I am directed to write you this letter on behalf of the administration of his Excellency Dr Goodluck Ebele Azikiwe Jonathan, President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. I am writing in reaction to a recent interview you granted Daily Sun about the security situation in the country. You were misquoted as saying that “there is definitely something wrong with government” and that “nobody believes anymore the story that we are on top of the situation”.

My Lord, although you did not name names, I am responding all the same because I subscribe to the truth in this Yoruba proverb, “Olowe m’owe ara e”: the target of an uppercut proverb surely knows himself, even if he is not named in the proverb. I recognise President Jonathan as the target of your proverb, especially the little part about not being on top of the situation. I must emphasise again, my Lord, that I believe you were misquoted, given the infinite capacity of our local journalists for mischief. However, I have decided to respond all the same, just in case the journalist who interviewed you got it right this time.

Although you reside here in Abuja, I am surprised that like Professor Chinua Achebe, who has lived abroad for too long, you are displaying a perplexing lack of familiarity with realities on the ground in Nigeria. Only someone who resides on Mars would look at the security situation in Nigeria and declare that President Jonathan is not on top of it. President Jonathan was quick to recognise that terrorism has been a global threat since September 11, 2001 and had the presence of mind and sense of judgment to realise that it is now Nigeria’s turn to be attacked by terrorists.

As soon as he had that epiphany, he took a bold step that no world leader has ever taken in the history of the war on terror; he reassured the Nigerian people that Boko Haram and other manifestations of terror would end in Nigeria in June 2012. No American president boasts this remarkable achievement. No European leader has ever been able to put a definitive expiry date on terrorism. President Jonathan did it. My Lord, if that is not being on top of the situation, I don’t know what is.

My Lord, Boko Haram is not the only case of terrorism that has highlighted President Jonathan’s remarkable acumen as a leader equal to the task of assuring the security of the nation. You will recall that he took the bold step of ending the fuel subsidy regime early this year. He struck a deadly blow against corruption and freed up subsidy money for investment in infrastructure such as roads, power, electricity, and hospitals. Enemies of progress in Nigeria, aided by Nigerian loudmouths abroad, ganged up against Nigeria in the so-called Occupy Nigeria movement. The Occupy virus spread and became a terrorist takeover of Lagos. Our Commander-in-Chief acted swiftly and deployed troops to Lagos to take the city back from the terrorists. My Lord, if this is not being on top of the situation, I don’t know what is.

Despite the challenges we still face from Boko Haram, the President has spared no effort in reassuring the international community of our commitment to the war on terror. More than any other Nigerian President before him, Dr. Jonathan has assured foreign investors to continue to flock to Nigeria and inject much needed foreign direct investment into our economy. He has urged them to ignore the threat of Boko Haram and go about their business peacefully in Nigeria. No American President has been bold enough to encourage people to ignore Al Qaeda. My Lord, if this is not being on top of the situation, I don’t know what is.

It is partly in recognition of the President’s giant strides in securing Nigeria and Africa that he recently made Time Magazine’s list of the one hundred most influential people in the world. Mr. President is humble and has not allowed all the recognition abroad to distract him from the work of the Nigerian people. As I write, seven hundred and seventy-four presidential committees are working hard on various assignments designed by the President. As you probably know, the Oronsaye committee recently submitted its report and the President swiftly promised to constitute a committee to look into the report and write a white paper on it. My Lord, if this is not being on top of the situation, I don’t know what is.

We suggest, my Lord, that you upgrade your knowledge of Nigerian realities before granting another press interview.

Yours sincerely,

Remember Ruben, PhD

Aso Rock Villa, Abuja

Source: Daily Times Nigeria

#Nigeria FG to Compel Telecoms Firms to List on NSE

2202F02.NSE-Building.jpg - 2202F02.NSE-Building.jpg

 NSE Headquarters

By  Ndubuisi Francis    04 May 2012

 

The Federal Government yesterday said that it would compel telecommunications companies operating in the country to list their shares on the Nigerian Stock Exchange (NSE).

The biggest telecoms operators are MTN, Airtel, Etisalat and Globacom.
Minister of State for Finance, Dr. Yerima Ngama, who spoke at a forum where ministers unveiled their scorecard as part of the 2012 democracy day celebration and first anniversary of President Goodluck Jonathan’s administration, stated that the era where multinational companies would come to Nigeria and generate huge profit without the citizenry benefiting would become a thing of the past with the compulsory listing.

 

The minister said a lot was being done to revive the capital market, adding: “We know that most of us who invested in the market have lost a lot. Not because these companies are not known yet. In fact, many of the intrinsic values of their shares are higher than their market values but what is happening is that there is a loss of confidence by Nigerians.”

He said 81 per cent of all the trading on the NSE involves foreign investors, stressing that Nigerians were displaying a lukewarm attitude occasioned by what transpired in the capital market.

 

“We are also trying to encourage new companies to list on the NSE; we want to make sure that MTN, Glo, Zain (Airtel) and all the companies that are doing very well and making billions of profit should also list on the capital market so that Nigerians can also share from their profits,” he said.

The minister also added that the power generation and distribution companies that would be privatised would be compelled to list their shares on the NSE.

 

“The power sector is also another big business in Nigeria and we are working to ensure that when we are regulating the sector, we want to do it in such a way that one or two people will not come into the sector to form a cartel.

“So to avoid this, we are also going to make sure that distribution companies that will operate in that sector list their shares so that after their privatisation, Nigerians will be given the opportunity to buy shares in these power generation and distribution companies,” he said.

 

Meanwhile, the Minister of Finance and Coordinating Minister of the Economy,  Dr. Ngozi Okonjo-Iweala, at the forum yesterday also disclosed that the launch of the Integrated Personnel and Pay System (IPPS) in 2010 had started yielding fruits, citing the N14 billion saved from the payment of pensions to ghost pensioners.

She added that in 2011, the Federal Government investments yielded N48.723 billion in dividends, operating surplus, rent, and privatisation proceeds even as the minister noted that appreciable progress had been made in re-directing credit to key sectors like agriculture, power and aviation at single digit interest rates.

Source : Thisday

Deola Sagoe’s estranged husband set to remarry

BENEATH her happy-go-lucky façade, talented fashion designer, Deola Sagoe, is not exactly a happy woman at the moment.

Her former husband, Kofi is allegedly in a new romance with a new woman simply identified as Nike. And those who should know informed SC that marriage might be on the cards for the Ghanian-born young man. Since their marriage crashed three years ago, Deola has not been linked with any man, perhaps hoping that she would resolve her differences with her estranged  beau. Insiders, however, aver that their love affair is not likely to be rekindled. Kofi Sagoe has moved on with his life and is currently enjoying a new romance.

So bitter was the ex-couple’s separation that Kofi was brusquely booted out as Managing Director of Toyota Nigeria Limited owned by his father-in-law, Chief Ade Ojo. Kofi later moved out of their matrimonial home and filed for divorce. Few months later, he became the Country Managing Director of SUBARU Nigeria where Yinka Fisher is chairman.

 

Source- The Nation

#Nigeria : How “religion, land and population” under-develops the North By Muhammad Jameel Yusha’u

Muhammad Jameel Yusha’u

Exploitation of religion has become the norm, religious leaders are happy to manipulate their followers to earn government favour or even extort the congregation to satisfy their personal needs

 

The title of this piece is not mine. It is the product of a discussion in Boston, United States when, by coincidence, I met a former Nigerian military General on March 11, 2012 as I visited my friends in the city. As usual with every meeting of Nigerians, nothing attracts attention more than the affairs of our country. While we were having this conversation, this military General remained quiet. However after about two hours, he finally intervened in our discussion. He said as youths you have to think about the future of Nigeria , and for those of you from the north three things stand out and he mentioned “religion, land and population”.

According to him, in the north we have the largest population in Nigeria , we have the most fertile land that can almost feed Africa , yet we still live in poverty, and our population is becoming a problem to us because we refuse to turn it into an asset for economic development. Religion is no longer taught by the scholars who have a versatile knowledge; rather, to both Muslims and Christians, becoming an Imam and a Pastor is so easy that people can just develop an army of followers even if they don’t have sufficient knowledge to guide the people. This actually reminded me of a discussion I heard recently with one of the leading Islamic Scholars in Nigeria who said that in Ramadan, with just little understanding of the Arabic language, without a deep understanding of the expertise needed to provide exegesis of the Qur’an, people just start giving Tafseer (interpretation of the Qur’an) in various Mosques. Similarly a teacher of mine once expressed concern on how some of his former students abandoned their studies and decided to become Pastors. I hope in the nearest future this General will find time to write in detail what he meant by his thesis of ‘religion, land and population’ as I believe he is more than intellectually equipped to do so.

However this piece is a minor contribution on what in my opinion should constitute why we should think critically on how to utilize religion which defines our identity, land which can sustain the economy and population which should turn the two around.  A review of the economic development of China in the last thirty years suggests that the vision of its leaders to utilize their population and land to boost agriculture led to industrialization and urbanization, and today China is the second largest economy in the world, and in the nearest future it will overtake the United States as the strongest economy in the world to be followed by India, another country where population has become an asset rather than a burden, despite the challenges it is facing. You only need to look at the fields of medicine and information technology to know how India utilized its population to become a source of strength, not for India alone, but the entire world.

How did the population of northern Nigeria become a burden, religion mismanaged, and land under utilized? Possibly, the answers could be found in five key issues; colonial legacy, the curse of oil, lack of respect for the dignity of labour, exploitation of religion and the selfishness of northern elites.

Since the conquest of northern Nigeria by Frederick Lugard and the colonial policies that followed in the region, northern Nigeria has not recovered. Muslims in particular were the heavy casualties of this conquest as expertise in religion and knowledge of other fields of knowledge studied in Arabic or ajami (writing in local language using Arabic letters) was no longer considered a skill that provides employment. The ajami script was substituted with roman script thereby rendering the largest segment of the population illiterate as the knowledge they acquired in Arabic doesn’t provide employment except for few individuals whose services are required to serve as judges, school teachers etc. This was further complicated by the perception of the people in the region that Western education is meant for proselytisation rather than economic development. The effect of this is still being felt.

While the effect of this was still biting, the discovery of oil did not help the population of northern Nigeria as the land used for agricultural production, which was sustaining the region and contributing to the federal government was abandoned. The same population that has been robbed of its intellectual capacity has now lost its economic strength because its population decided to engage in rural-urban migration in search of easy money. Neglecting agriculture is not exclusive to northern Nigeria ; it’s the problem of the entire country. The example of United Arab Emirates will be relevant here. When oil was discovered the leaders of the country came together and assembled their intellectuals to advise them on what to do with it. They were advised that they have two potentials, the Sun and the Sea; what that meant is they have two great assets that can be used for trade and tourism, and the oil money was used to develop these two sectors. Today UAE can survive without oil. Think of northern Nigeria , how can the population of the region be transformed into what India and China have done with their people, and for the UAE parable what can the region do with the Sun and  its abundant land? Perhaps when there is 100 per cent resource control, the region will sit up. And I am not joking, I heard a deputy governor from the Niger-Delta region talking about it at a business summit in London the other day.

Lack of respect for the dignity of labour is a major issue that every reasonable person in northern Nigeria should be concerned about. People are happy to sit for ages under the shade of a tree gossiping for hours and dreaming to become millionaires, yet they are happy to laugh at a neighbour who used his energy in manual labour to earn a living. A university graduate is happy to sleep at home waiting for the job that suits his ego while his friend from the South has saved part of his NYSC allowance and has already started transporting food items produced in the same north to his home town without waiting for anybody to employ him.

Exploitation of religion has become the norm, religious leaders are happy to manipulate their followers to earn government favour or in extreme circumstances even extort the congregation to satisfy their personal needs. So why should the average person not acquire the basic literacy to become an Imam or a Pastor?  And finally, our leaders have to remember that the children of the poor are also human beings who deserve a decent life. If they fail to uplift their condition somebody will recruit them to make life unbearable for everyone.

 

Courtesy – Premium Times

#Nigeria: Police to withdraw assault rifles, introduce rubber bullets — The Punch – Nigeria’s Most Widely Read Newspaper

Abubakar said that the police had recently unveiled an Information and Communication Technology centre in Abuja manned by 15 assistant inspectors-general that will be monitoring activities through cameras in major cities including Abuja, Lagos and Kaduna

via Police to withdraw assault rifles, introduce rubber bullets — The Punch – Nigeria’s Most Widely Read Newspaper.

#Nigeria: Suicide bomber’s cell-phone recovered from scene of blast — The Punch – Nigeria’s Most Widely Read Newspaper

A senior security officer told our correspondent that the acquisition of hi-tech equipment had given the government confidence that Boko Haram would not be able to access and attack any target in Abuja.

via Suicide bomber’s cell-phone recovered from scene of blast — The Punch – Nigeria’s Most Widely Read Newspaper.

#Nigeria Premium Times :NSA Azazi blames PDP for Boko Haram attacks

“People are complaining in the North, yet for more than 35 years, the leadership of this country came from there. People are reacting as a result of pent up frustration, due to lack of empowerment and essential amenities,” Mr. Akpabio said.

via Premium Times.

Fuel Subsidy Payments Probe : A Summary

http://yourbudgit.com/index.php/component/k2/item/12?Itemid=218

Sent from my iPad

Post Navigation