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NSC: Transportation Sector Can Contribute 10% to Nigeria’s GDP

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Hassan Bello

The Executive Secretary of Nigerian Shippers’ Council (NSC), Hassan Bello has stated that the transportation industry can contribute about 10 per cent to the Nigeria’s gross domestic products (GDP) if the right policies are in place to drive the sector.

To achieve this, he said there must be massive investment in infrastructure and training for operators and regulators on new global trends in transportation services.

Bello stated this over the weekend when he received officials of the Nigerian Institute of Transport Technology (NITT) led by its Director General, Dr. Aminu Yusuf, who paid him a courtesy visit in his office.

He stressed that as Nigeria looks to export to diversify its economy, transportation and shipping are the key, adding that there must be processes put in place to achieve this.

He said the NSC is knowledge- driven hence there is need for the maritime sector to be driven by personnel in specialised knowledge.

Bello said: “So many mistakes have been made in the industry as a result of the huge knowledge gap. We cannot afford to make any mistakes this time that we have limited opportunity in the sector. Transportation is a significant aspect of the Nigerian economy. The time has come for the sector to mean something and contributes a huge portion of the nation’s GDP.

“There is need for investment to get the sector to be properly linked to the Nigerian economy. The shippers council is interested in developing policies that is aimed at growing the transportation sector. There is a gap in the industry today. The industry is knowledge driven hence the need for training and retraining.”

The NSC boss restated the council’s determination to partner the NITT for effective training and capacity building development of personnel.

While noting that capacity building is instrumental to the development of the maritime sector, Bello stressed that there is need to sign a Memorandum of Understanding (MOU) between the agency and the institution.

Bello commended the effort made so far by the institute on training stating that it has trained a large number of professionals in the transport sub sector of the economy.

He urged the institute to put in place awareness campaign programme to move the training outfit forward.

“The two institutions are knowledge driven, what we do is to get the required knowledge because it is the knowledge that drive the industry and so many mistakes has been made due to lack of knowledge and Nigeria will suffer for it”

“But now the choices we have for the industry are limited and we cannot afford to make such mistakes and therefore we have to patronise this fountain of knowledge called NITT,” he stressed.

Bello described the NITT programmes as innovative and modern saying that transport is a significant component to Nigeria economy.

On his part, the Director General, NIIT, Dr. Aminu Yusuf said the NITT has been able to put in place measures to pursue transport education development programme to set agenda for the overall development of the sector.

He, however, appealed to the NSC’s boss to look into the possibility of investing in the infrastructural development of the institute and jointly carry out research projects on transport and logistics.

Furthermore, he said the NIIT cannot improve on its own without the patronage of government agencies like the NSC adding that the NSC as an economic regulator must ensure that the right things are put in place to transform the transportation sector.

“We have also submitted proposal for a joint two day workshop with the NSC on the role of transport and logistics in international trade in Nigeria and this is in addition to the training proposal sent to your office for consideration”, he added.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Debt Management Office Releases Q1, 2022 Calendar

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Director General DMO - Investors King

The Debt Management Office (DMO) will, on January 16, 2022 issue N70 billion to N80 billion, four years and 20 years Federal Government of Nigeria (FGN) bond, with an interest rate of 12.50 percent.

In its recently released calendar for the issuance of bonds for the first quarter of 2022 (Q1-2022), the DMO noted that this bond has an original tenor of 10 years and 20 years and will re-open in January 2026 and January 2042.

The DMO also revealed that it will issue three years, 11 months and 19 years, 11 months FGN bond of N70 billion to N80 billion on 16th of February.

This bond, according to the DMO, will carry an interest rate of 12.50 percent, to be re-opened in January 2026 and January 2042, and with original tenor of 10 years and 20 years.

Also on March 23, the DMO will issue three years, 10 months, and 19 years, 10 months, 70 billion to N80 billion FGN bond which would last for a period of 10 years and 2 years.

The bond has an interest rate of 12.50 percent, and will be re-opened in January 2026 and January 2042.

FGN Bonds are debt securities (liabilities) of the Federal Government of Nigeria (FGN) issued by the Debt Management Office (DMO) for and on behalf of the Federal Government.

The FGN has an obligation to pay the bondholder the principal and agreed interest as and when due. When you buy FGN Bonds, you are lending to the FGN for a specified period of time.

The FGN Bonds are considered as the safest of all investments in domestic debt market because it is backed by the ‘full faith and credit’ of the Federal Government, and as such it is classified as a risk free debt instrument.

Prior to the establishment of the Debt Management Office (DMO) in 2000, Nigeria’s public debt was managed by a myriad of Government Agencies in an uncoordinated manner.

This diffusion created systemic and structural problems that brought about serious strain on the country’s debt portfolio and economic growth.

Hence, the establishment of the DMO marked the beginning of the institutionalization and professionalization of public debt management in Nigeria.

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Stanbic IBTC Enlightens Nigerians on Stockbroking

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Stanbic IBTC - investorsking.com

Stanbic IBTC Stockbrokers, a subsidiary of Stanbic IBTC Holdings PLC, recently hosted a virtual session to enlighten Nigerians on the potentials of investing in the stock market.

The virtual event themed: “You Don’t Know About Stocks? Come On Now,” featured stockbroking experts: Afolabi Gbenro, Head, Sales Trading and Benjamin Jesumuyiwa, Head, Mandate and Settlements, both of Stanbic IBTC Stockbrokers with Tosin Olaseinde, founder of Money Africa, Jennifer Awirigwe, Certified Financial Educator and Solafunmi Oyeneye of Wealth Motley, a Personal Finance Educator as panelists.

The goal of the session was to acquaint individuals new to the stock market with basic stockbroking terms, useful tips for stock trading and how to use the Stanbic IBTC stockbroking app.

Afolabi stated the importance of diversifying investments in stocks. He listed factors that affect the prices of stocks which include supply, demand, news, and investor sentiments. The benefits of investing include dividend yield, capital appreciation, equity share holder privileges and utilising investments as collateral. He stressed the importance of research and advised Nigerians to conduct their own research and evaluate companies before investing.

On considerations before entering the stock market, he said, “You would need capital, investment objective, and risk profile assessment to determine the kind of investment you should venture into. You would also need to stay abreast of market updates.”

Benjamin Jesumuyiwa, Head, Mandate and Settlements, Stanbic IBTC Stockbrokers, urged Nigerians to invest in stocks to reap long term rewards. He said: “The stock market makes it easy to buy shares of companies and they can be purchased through a broker or via online platforms. Stanbic IBTC Stockbrokers offers a discounted rate of 0.7% on brokerage fees. Once you have set up an account, stocks can be purchased in minutes.”

Benjamin talked about the ease of using the Stanbic IBTC web and mobile applications platforms, stating that the platforms have been designed to allow customers sign up themselves, with direct access to the market.

Tosin Olaseinde commended Stanbic IBTC for making stock trading accessible and affordable for Nigerians, as individuals can open a stockbroking account with zero naira. She advised beginners to invest while gaining knowledge about the stock market and recommended Exchange Traded Funds (ETFs) as an entry point especially for people who have an aversion to high-risk investments. She said: “As a beginner, the best place to start is the Exchange Traded Funds (ETFs). It is a mixture of different equities in one stock. It offers you the opportunity to participate in a couple of stocks without buying everything individually.”

Solafunmi Oyeneye mentioned liquidity and dividends over a long period of time as advantages of trading stocks, encouraging beginners to access the Stanbic IBTC stockbroking app through their smartphones for convenience and less paperwork.

Jennifer opined that the stock market is a good place to invest because it is highly regulated, and the risks can be easily assessed. She also recommended the Stanbic IBTC Stockbroking app for trading stocks for ease of use and speed.

The stockbroking investment series by Stanbic IBTC further reaffirms the commitment of the financial institution to equip individuals with essential information required to make informed investment decisions.

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Why Every Investor Should Now Include ESG: deVere CEO

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Every investor needs exposure to environmental, social and governance (ESG) investments to build wealth over the long-term, says the CEO of one of the world’s largest independent financial advisory organisations.

The observation from deVere Group’s Nigel Green, a long-term advocate of impactful investing, comes as it is revealed that global sustainable fund assets almost doubled in the six months through to September.

Global ESG assets are on track to exceed $53 trillion by 2025, according to Bloomberg Intelligence, representing more than a third of the $140.5 trillion in projected total assets under management.

Mr Green says: “In January 2020, we identified that ESG would be this decade’s ultimate investment megatrend.

“Of course, that was before the pandemic that has acted as a catalyst for the sustainable investing boom.

“The health of our planet and how it affects human health which, in turn, affects the way we all live, interact and do business, dramatically came to the fore.”

He continues: “Previously, ESG investments were often considered a ‘quirk’ or ‘nice to have.”

“But now we believe that they should be a part of everyone’s investment portfolio for several key reasons.

“First, they typically deliver a legitimate diversification tool – which is how investors can seize opportunities and mitigate risk, especially during periods of higher volatility.

“Second, funds investing in entities with robust ESG credentials have outperformed their benchmarks over recent years. From a risk management point of view, including these companies in your portfolio is, clearly, a sensible decision to take.

“Third, ESG represents a revolution of investment strategy itself. A seismic shift has occurred in corporate behaviour. How firms approach ESG factors and the value they place on them compared to other considerations has already changed forever.  The ESG themes are already embedded in the global economy as this is only set to grow in the years to come – and, of course, investors should embrace the concept of having early advantage.

“And fourth, the last 18 months have underscored how we have a moral obligation to back and fund entities that support the wellbeing of the planet and society”

In October, deVere announced that it will double its commitment to position $2 bn of assets under advisement into ESG investments.

This follows a similar announcement earlier this year when it said it would aim to have $1bn in socially responsible investment vehicles within five years.

As well as its commitment, deVere is one of 18 founding signatories of the UN-backed Net Zero initiative, the international alliance of finance powerhouses that will help accelerate the transition to a net-zero financial system. Its membership means it is committed to “aligning all relevant products and services to achieve net-zero greenhouse gases by 2050 and to set meaningful interim targets for 2025.

Other founding signatories include BDO, Bloomberg, Campbell Lutyens, Deloitte, EY, Grant Thornton, KPMG, The London Stock Exchange Group, Minerva Analytics, Moody’s, Morningstar, MSCI, PwC, SGX, Solactive, S&P Global and SSE.

Mr Green concludes: “The case for now having exposure to ESG in your investment portfolio is undeniable.

“We believe that a failure not to seek profits with purpose could negatively impact your long-term accumulation of wealth.”

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