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EU Rejects 67 Nigerian Foods in Two Years

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  • EU Rejects 67 Nigerian Foods in Two Years

Sixty-seven processed and semi-processed food products of Nigeria origin exported to the European Union were rejected in 2015 and 2016, investigations have shown.

A breakdown of data from the European Commission Rapid Alert System showed that 42 Nigerian food imports were refused entry into EU countries in 2015 and another 25 in 2016.

The RASSFF report said that the food items, which were discovered to pose risks to human health, were denied entry into the continent after border inspection and internal control measures were carried out.

According to reports, the rejected food items include brown and white beans, melon seeds, palm oil, mushrooms, bitter leaf, ugu leaves, shelled groundnut, smoked catfish and crayfish.

Others are live snails, prawns, ginger, melon seeds, sesame seeds, peanut chips, dried meat and fish.

Data showed that some of the contaminated and substandard food products from Nigeria were discovered in European Union countries like the Netherlands, Germany, Ireland, Denmark, Poland, Greece, Finland and Italy.

The commission stated that the rejected products did not meet the prescribed regulations and quality standards specified by the receiving countries.

According to the agency, some of the food items are illegally imported and do not have labels, proper packaging, health certificates and other entry documents.

It said that foreign agents discovered in some of them after analyses were glass fragments, rodent excrements and dead insects.

It noted that high levels of chemical contaminants, some of which were used in fumigation, like aluminium phosphide, dichlorvos, dimethoate, trichlorphon, cyhalothrin, were also discovered in the products.

The report stated that microbes such as salmonella, aflatoxins and mould growth were also discovered in some of the products.

The report added that majority of the products had not been placed in the market when they were discovered to be unfit for human consumption, while those that had already reached the market were recalled.

In 2015, 17 of the food items were destroyed, four were subjected to official detention, four others were withdrawn from consumers, and nine were re-dispatched.

In 2016, 11 food commodities from Nigeria to the UK were destroyed, two were withdrawn from the market, and two were subjected to official detention.

In 2014, 42 food items originating from Nigeria were rejected, while 22 contaminated foods were recorded in 2013.

In June 2015, the EU banned all Nigerian dry bean imports due to the presence of high levels of pesticide considered dangerous to human health in them.

Due to the repeated rejections and alert received on food products from the country, the National Agency for Food and Drug Administration and Control has been mandated to certify packaged, semi-processed and processed food commodities for export.

In addition, the Nigerian Export Promotion Council, in order to drive the zero rejection of the country’s exports in the international market, organised series of capacity-building workshops for exporters to train them in standards and requirements in the global market.

The Chief Executive Officer, NEPC, Mr. Segun Awolowo, said lack of technical knowhow was responsible for the rejection of Nigerian products at international borders.

The Nigeria Agricultural Quarantine Service has also intensified its efforts at quarantining agricultural produce for local consumption and export.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Guinness Nigeria Postpones Spirits Importation Exit, Extends Deal with Diageo

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Guinness Nigeria Plc has announced a delay in its plan to halt the importation of spirits as it extended its agreement with multinational alcoholic beverage company Diageo until 2025.

The decision, communicated through a corporate notice filed with the Nigerian Exchange Limited on Tuesday, cited a longer-than-expected transition period for separating its business from Diageo’s.

Initially slated for discontinuation in April 2024, the importation of premium spirits like Johnnie Walker, Singleton, Baileys, and others under the 2016 sale and distribution agreement with Diageo will now continue for an additional year.

The extension comes as the process of business separation between Guinness Nigeria, a subsidiary of Diageo, and Diageo itself faces unexpected delays.

In October, Guinness Nigeria had announced plans to cease importing spirits from Diageo, a move aimed at reducing its foreign exchange requirements.

However, the separation process has encountered unforeseen hurdles, necessitating the extension of the importation agreement.

The notice, signed by the company’s Legal Director/Company Secretary, Abidemi Ademola, highlighted the ongoing efforts by Guinness Nigeria and Diageo to implement the separation, originally scheduled for completion by April 2024.

The extension underscores the complexity of disentangling the businesses and ensuring a smooth transition.

Guinness Nigeria reaffirmed its commitment to the long-term growth strategy, aligning with Diageo’s decision to establish a new, wholly-owned spirits-focused business.

Despite the delay, both companies remain dedicated to managing the importation and distribution of international premium spirits in West and Central Africa, with Nigeria as a key hub.

The postponement comes amid challenges faced by Guinness Nigeria, including significant exchange rate losses, which amounted to N49 billion in the 2023 half-year operations.

Despite these setbacks, the company remains optimistic about its future prospects in the Nigerian market.

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Private Sector Warns: Interest Rate Hike to Trigger Job Cuts and Inflation Surge

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As the Central Bank of Nigeria (CBN) announced a hike in the Monetary Policy Rate (MPR) from 22.75% to 24.75%, concerns have been raised by the private sector regarding the potential ramifications on job stability and inflationary pressures.

The move, aimed at curbing inflation and stabilizing the exchange rate, has prompted apprehension among business operators who fear adverse effects on the economy.

Representatives from the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and the Nigerian Association of Small Scale Industrialists have voiced their worries over the increased difficulty in accessing affordable credit.

They argue that the higher interest rates will impede the private sector’s ability to borrow funds for expansion and operational activities.

This, they fear, could lead to a reduction in business investments and subsequently result in widespread job cuts across various sectors.

The Lagos Chamber of Commerce and Industry (LCCI) acknowledged the necessity of the interest rate hike but emphasized the potential negative consequences it may bring.

While describing it as a “price businesses would have to pay,” the LCCI highlighted the current fragility of the economy, exacerbated by various policy missteps.

They cautioned that the increased cost of borrowing could stifle entrepreneurial activities and discourage expansion plans critical for economic growth and job creation.

Experts have echoed these concerns, warning that the tightening monetary conditions could exacerbate inflationary pressures and hinder economic recovery efforts.

With inflation already soaring at 31.70%, the rate hike could further fuel price hikes, especially in essential goods and services, thus eroding the purchasing power of consumers.

However, CBN Governor Yemi Cardoso defended the decision, citing the imperative to address current inflationary pressures and ensure sustained exchange rate stability.

He emphasized the need to restore the purchasing power of ordinary Nigerians and expressed confidence that the economy would stabilize by the end of the year.

Despite assurances from the CBN, stakeholders remain cautious, calling for a more nuanced approach that balances the need for price stability with the imperative of fostering economic growth and job creation.

As businesses brace for the impact of the interest rate hike, all eyes are on the evolving economic landscape and the measures taken to mitigate its effects on livelihoods and inflation.

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Breaking Barriers: Transcorp Hotels CEO Shares Journey from Crisis to Success

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Dupe Olusola

Dupe Olusola, the Managing Director/CEO of Transcorp Hotels Plc, reflects on her remarkable journey from navigating the depths of a global pandemic to achieving unprecedented success in the hospitality industry.

Appointed in March 2020, amidst the onset of the COVID-19 pandemic, Olusola found herself at the helm of a company grappling with the severe economic fallout and operational challenges inflicted by the crisis.

Faced with a drop in occupancy rates from 70% to a mere 5%, Olusola and her team were confronted with the daunting task of steering Transcorp Hotels through uncharted waters.

Undeterred by the adversity, they embarked on a journey of transformation, leveraging creativity and resilience to navigate the turbulent landscape.

Implementing innovative strategies such as introducing drive-through cinemas, setting up on-site COVID-19 testing facilities, and enhancing take-away services, Transcorp Hotels adapted to meet the evolving needs of its guests and ensure continuity amidst the crisis.

Embracing disruption as a catalyst for growth, Olusola fostered a culture of collaboration and teamwork, rallying her colleagues to overcome obstacles and embrace change.

Through unwavering determination and a commitment to excellence, Transcorp Hotels emerged from the pandemic stronger than ever, breaking profit and revenue records year after year.

“It’s indeed been a great opportunity to learn and relearn, to lead and to grow. When you see success stories, remember it’s a journey with twists, turns, ups and downs but in the end, it will all be okay”, she said.

Olusola’s leadership exemplifies the power of adaptability and perseverance, inspiring her team to transcend limitations and chart a course towards unprecedented success.

As Transcorp Hotels continues to flourish under her stewardship, Olusola remains steadfast in her dedication to driving innovation, fostering growth, and breaking barriers in the hospitality industry.

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