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Stakeholders Collaborate on Local Raw Materials, Equipment

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  • Stakeholders Collaborate on Local Raw Materials, Equipment

Stakeholders from the Manufacturers Association of Nigeria, Raw Materials and Research and Development Council and Clarion Events are working on an arrangement that will ensure availability of raw materials, machinery and funding for large corporations as well as operators in the Micro, Small and Medium Enterprise sector of the Nigerian economy.

This was disclosed at a press briefing in Lagos, where they also announced the plan to organise an exhibition for this purpose.

They said the two-in-one event tagged Nigerian Raw Materials Exposition and Nigerian Manufacturing and Equipment expo, aimed to bring together, equipment manufacturers, suppliers as well as raw materials suppliers in a relationship that would see each depending on the other for critical equipment and input.

The Director-General, RMDC, Dr. Hussaini Ibrahim, said that the NIRAM expo was a flagship programme of the council premised on economic recovery and growth plan of the Federal Government, which was based on optimising the use of local content and empowering local businesses.

He said, “It is hinged on an industrial development strategy based on sustainable sourcing of raw materials.

Ibrahim said the previous editions of NIRAM had been responsible for local sourcing of high quality starch, glucose syrup and extracts, fruit juice concentrates, among others, by industries.

He said, “The NIRAM expo also created a platform for highlighting the challenges to local sourcing of gypsum and today, most of these challenges have been addressed and cement industries can now look forward to the sourcing of gypsum from local miners.

“The 2017 expo will ultimately result in increased patronage of high quality raw materials or intermediate input from local sources in preference to imported ones and therefore help to conserve foreign exchange and free funds for other development purposes,” he said.

In his remarks, the President of MAN, Dr. Frank Jacobs, said the 2016 edition of the Nigerian Manufacturing and Equipment expo, which incorporated NIRAM expo, was created in response to government’s commitment to industrialisation and diversification of the economy.

He said, “It provided a veritable platform for the SMEs to learn processes on how to boost their output, reduce cost, drive quality improvement, manufacture for new market and secure funding for growth.

“A major feature of the 2016 NME expo was the chief executive officers and government’s forum tagged, ‘Manufacturing Partnership for African Development’ session which was co-chaired by MAN and the Federal Ministry of Industry, Trade and Investment.

“These C-level sessions that took place alongside the NME enabled policy discussions between major stakeholders from both the public and private sectors of the Nigerian economy.

“A key aftermath of the 2016 mPAD forum was the provision of cheaper funding for the industrial sector by the Bank of Industry.

“In 2017, the sessions will again give top stakeholders in the private and public sectors the opportunity to appraise developments in manufacturing and jointly propose quick-win solutions that will help our country revive its manufacturing sector.”

Jacobs added that the 2017 event was expected to attract over 3,700 visitors and exhibitors, consisting of multinationals and member companies of MAN, large and small firms and other manufacturing equipment distributors from over 120 leading local and international suppliers. “There will be on display the latest manufacturing equipment, machine tools, technologies, spare parts and manufacturing raw materials,” he said.

The Managing Director of Clarion Events West Africa, Mr. Dele Alimi, said the recent inclusion of the NIRAM expo into the NME would afford several companies and countries that had registered as exhibitors and visitors to the expo, a rare opportunity of exposure to the entire manufacturing value chain, which would include machinery, equipment, financial support, professional consultancy and raw materials.

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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Company News

Farmforte, Others Signs MoU To Strengthen and Sustain Growth in Agricultural Sector

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Farmforte - Investors King

Farmforte Limited has signed a strategic Memorandum of Understanding with the Agricultural Fresh Produce Growers and Exporters Association of Nigeria; HYBR, a pan-African innovation firm; and ALTS, a consulting and strategy development firm.

The firm said in a statement on Sunday that the partnership would strengthen common interest cooperation and stimulate inclusive and sustainable growth within the agricultural sector, by capitalising on the synergy and comparative advantage offered by each organisation.

Speaking during the signing ceremony, Farmforte Co-Chief Executive Officer, Osazuwa Osayi, said, “Our mid to long-term strategic goals are further reaffirmed, as this partnership will facilitate the sharing of knowledge, ideas, and expertise across the agricultural sector.

“We will collectively address initiatives and approaches concerning agricultural investments, food security, and the overall robustness of the value chain.”

He said the collaboration would also unlock the full potential of the sector and place it on a renewed path for success, especially within a post-pandemic economy.

The President of AFGEAN, Tajuddeen Dantata, said, “By creating dialogue and fostering investment in the horticulture sector, this partnership will endeavor to support Farmforte in its exporting efforts by improving operational efficacy and cost-savings, while ultimately driving socio-economic growth in the country.”

The Chief Executive Officer, HYBR, Charles Ojei, said to drive inclusion, sustainability, job creation, and Nigeria’s overall economic growth, the optimisation of the agriculture value chain was critical.

“This collaboration is a fusion of the complementary capabilities of all partners to move a bigger agenda forward.”

The Managing Partner, ALTS, Akintunde Sawyerr, said, “The goal of this partnership is to support Farmforte’s vision of becoming the largest agribusiness by 2035 via scalable and world-class innovation across its enterprise.”

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OctaFX Launches Dual Life Campaign

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OctaFX- Investors King

International Forex broker, OctaFX has launched a socially conscious marketing campaign called Dual Life aimed at simplifying forex trading and helping Nigerians create wealth.

A statement by the organisation on Monday said that the marketing campaign would celebrate the superpowers of Nigerians who committed their time and efforts to two or more jobs and were successful at each one of them.

It stated that the #DualLifewithOctaFX campaign had influencers in the Nigerian lifestyle and entertainment space such as Toke Makinwa, Bovi, Denola Grey, Timini Egbuson, and others at the core of the engagements, establishing the other sides of the celebrities and influencers as entrepreneurs.

While speaking about the campaign, the Marketing Manager, EMEA, OctaFX, Ali Nwadike said, “We wanted to position forex trading as that activity young Nigerians and everyone else, can engage in, even while focusing on their careers.

“From findings, most young Nigerians today work two or more jobs to pay the bills and attain financial freedom. But, we don’t get to talk about this often or appreciate the efforts, hence the #DualLifewithOctaFX campaign.

“While some see their jobs as a burden, we want people to see it as an achievement; and promote the school of thought that says one, two, many jobs is not bad especially when you are trying to create wealth.”

Nwadike added that more Nigerians would be exposed to the beauty of keeping their regular jobs and careers while making more money from forex trading with the OctaFX Trading App.

The statement also affirmed that OctaFX had made necessary arrangements from assembling forex experts and compiling training guides in the simplest and relatable form.

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Appointments

AfDB Appoints Dr. Beth Dunford as Vice President

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African Development Bank - Investors King

The African Development Bank Group (AfDB) has announced the appointment of Dr. Beth Dunford as its Vice President, Agriculture, Human and Social Development. The appointment becomes effective from July 1, 2021.

A statement explained that Dunford, a national of the United States of America, brings extensive experience to this role. She has held senior-level leadership positions in the US government, where she managed large and complex programs, working with the private sector, civil society, and multilateral and bilateral institutions, as well as with African governments, to deliver agricultural, social and human development impact at scale.

Prior to her appointment, Dunford worked as the Assistant to the Administrator in the U.S. Agency for International Development’s (USAID’s) Bureau for Resilience and Food Security, as well as the Deputy Coordinator for Development for Feed the Future, the U.S. government’s global hunger and food security initiative.

“In this dual role, she coordinated Feed the Future across multiple U.S. government agencies, oversaw a $1 billion annual budget and leveraged millions of direct private sector investment annually. In this capacity, she also coordinated a $2.3 billion Feed the Future presidential initiative across 11 US government agencies and forged partnerships within the private sector and civil society targeted at reducing hunger and poverty.

“She also led USAID’s technical and regional expertise focused on improving agriculture-led growth, resilience, nutrition and water security, sanitation and hygiene,” the statement added.

President of the African Development Bank, Dr. Akinwumi Adesina said he was delighted to appoint Dunford as Vice President to lead the Bank’s work on Agriculture, Human and Social Development.

“Beth is a strategic and effective leader with deep knowledge and impressive track record in designing and delivering highly impactful large-scale programs that have helped in lifting 27 million people out of poverty in 36 countries,” he added.

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