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Aliko Dangote Urges Stronger Regulation in Nigerian Port Operations to Reduce Congestion

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Africa’s richest man and Chairman of the Dangote Group, Aliko Dangote, has called for stronger regulation in Nigerian port operations to address the ongoing issue of port congestion.

Dangote made the call at the third ‘Race to US$200bn In FX Repatriation’ Non-Oil Export Summit of the Central Bank of Nigeria held in Lagos on Tuesday.

During his speech, Dangote criticized the Nigerian Customs Service, Nigerian Ports Authority, and the Nigerian Shippers’ Council for their role in creating the congestion. He highlighted two issues – terminal operators and Customs – and accused terminal operators of creating container-stacking lots in the ports to generate demurrage fees, which hinder the quick clearance of goods.

Dangote urged the Nigerian Shippers’ Council and terminal operators to change their ways and help aid the export industry in the country. “The terminal operators have to also change what they are doing now with the help of the Nigerian Shippers’ Council. The problem we have in that area is that we don’t have a very strong regulator. Shippers council, I think you need to rise and NPA (too). We are also a terminal operator, so I know what they are doing,” he said.

He added that the government’s policy to remove charges for exports would not be effective if goods were not cleared within 48 hours. “Sometimes, by the time you pay terminal charges and demurrage, there is no way you can become competitive when you export. There is a policy by the government that when you export, whatever you export, there are no charges,” he said.

Dangote’s comments come as Nigeria seeks to diversify its economy and boost its non-oil exports. The issue of port congestion has been a long-standing challenge in Nigeria, hindering the country’s trade and investment opportunities. With Dangote’s call for stronger regulation, it is hoped that the Nigerian maritime sector will take the necessary steps to address this issue and create a more efficient and competitive environment for businesses.

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

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App-Based Transport Workers in Nigeria Launch Nationwide Strike Over Fuel Subsidy Removal

The Amalgamated Union of App-Based Transport Workers of Nigeria (AUATWON), representing drivers from platforms like Bolt, Uber, and others, has initiated a nationwide strike today in response to the removal of fuel subsidy.

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The Amalgamated Union of App-Based Transport Workers of Nigeria (AUATWON), representing drivers from platforms like Bolt, Uber, and others, has initiated a nationwide strike today in response to the removal of fuel subsidy.

The removal of the subsidy has resulted in a surge in the price of Premium Motor Spirit (PMS), causing e-hailing drivers to express concerns about the inadequate fare increase implemented by ride-hailing companies. This, in turn, has had a detrimental impact on their income.

In a statement released by AUATWON, it acknowledged that the Federal Government has engaged in discussions with the Nigeria Labour Congress to address the fuel subsidy removal and facilitate negotiations on behalf of the workers.

Nevertheless, the union alleges that app companies have obstinately refused to establish a platform for negotiations with the drivers, thereby prolonging the planned industrial action.

The union said,

“App companies are not bigger than the government. If our government despite its strength can negotiate and have documented agreements with NLC and TUC, why will-App companies remain in their dictatorial attitude It’s time we negotiate with them and have documented agreements away from the terms and conditions they are changing every day without our input.

“As a result of this insensitivity, the union is directing all its members across the nation to shut down their service on all ride-hailing applications from Wednesday, June 7, 2023, in protest against every dictatorial practice and lack of concern for welfare and security of App-Based Transport workers of Nigeria.”

The union is urging driver partners, fleet managers, and app-based transport workers nationwide to stand in solidarity and support the strike. Additionally, they emphasize that during the protest, all drivers on rentals or hire purchases should be granted a waiver.

Checks by Investors King showed that to address the drivers’ concerns, they are requesting several measures, including a minimum of a 200 percent increase in fares, a 50 percent reduction in commission charges, and an end to the unjust deactivation of drivers who decline to work due to low fares and resulting lack of profitability.

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SnackFix From Bühler Adds Value to Local Grains in Nigeria and Boosts Food Security

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The SnackFix small-scale cereal bar production system from Swiss technology group Bühler is the ideal solution for small and medium enterprises (SMEs) to add value to locally produced grains in Nigeria and assist the country to address food security, says Manuel Murrenhoff, Managing Director, Bühler Nigeria.

On-the-go snacking consumption in Nigeria is rising steadily, presenting opportunities for SMEs to enter the market. “In terms of bars, fruit, and sweet snacks alone, this market segment is expected to exceed half a million tonnes by 2025,” says Murrenhoff. The main driver is the burgeoning population, estimated at 223.8 million in 2023, a 2.41% increase over 2022, and expected to grow to 377 million by 2050.

“The economically active part of the Nigerian population is quite sizeable and very mobile, which is boosting on-the-go snacking consumption,” says Murrenhoff. In addition, with half of the population living below the poverty line, there is more than ever the need to drive consumption of the full range of locally grown grains to keep final product prices in check.

“With the price of wheat projected to rise to record heights, Nigeria cannot possibly feed the growing population by importing wheat and other products. On the one hand, there is a shortage of forex and on the other hand, prices are escalating globally. That is where innovation, using local grains, plays an important role in food security, especially as these can be successfully incorporated into ready-to-eat foods,” says Murrenhoff.

Iyore Amadasun, Sales and Channel Business Manager at Bühler Nigeria, says that Bühler’s Snackfix, designed for food producers seeking a share from the on-the-go snack segment, promotes the processing of locally sourced grains for snacks while maintaining the highest food safety standards.

SnackFix is a multi-grain solution that allows SMEs to innovate across the spectrum of locally produced grains in Nigeria. The technology presents an entry-level, plug-and-play solution that is compact, cost-effective, and easy to commission and operate.

SnackFix includes a continuous mixer, a cooling tunnel, and a cutting system, all in one – everything needed for quality production. The combination allows SMEs to manufacture a huge variety of cereal bars at a volume of up to 130 kg per hour.

Customers benefit from Bühler’s experience in product development using a wide range of locally produced grains including, for example, sesame seeds, cashews, and peanuts. “We can help newcomers in the market achieve the best recipe to satisfy functional and indulgence consumer requirements in this segment and then supply them with a customised solution,” says Amadasun. In addition, Bühler has an innovation centre and laboratory in Switzerland to assist with different formulations and product development.

“The ready-to-eat market is of strategic importance to Nigeria, as it can adapt local grains for snacking consumption, promote healthy eating habits, and at the same time assist with Food Security,” says Amadasun.

With offices in Lagos and Kano, Bühler Nigeria is a leader in grain and food processing and offers solutions for grain drying and storage, flour milling, rice milling, cacao and chocolate processing, wafer and biscuit, pasta and noodles, feed, and aqua feed milling. Bühler Nigeria also provides support in the form of solutions for ink and coating applications and flexible packaging systems.

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Nominations are Open for the 2023 Africa Women Innovation and Entrepreneurship Forum (AWIEF) Awards

The Africa Women Innovation and Entrepreneurship Forum (AWIEF) has announced the call for nominations for the 2023 AWIEF Awards

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The Africa Women Innovation and Entrepreneurship Forum (AWIEF) has announced the call for nominations for the 2023 AWIEF Awards.

In its seventh edition, since 2017, the prestigious awards recognise, honour, and celebrate the achievements of female entrepreneurs and business owners in Africa, across various industry sectors, for their contribution to the continent’s inclusive economic growth and development.

Nominees for the AWIEF Awards are both emerging and established female entrepreneurs and founders who have demonstrated outstanding vision, leadership, inspiration, and success in their businesses in line with AWIEF’s core areas of innovation, technology, entrepreneurship, leadership, and socio-economic development.

The AWIEF Awards cover eight categories, each with specific criteria for qualification:

  • Young Entrepreneur Award
  • Tech Entrepreneur Award
  • Agri Entrepreneur Award
  • Creative Industry Award
  • Empowerment Award
  • Energy Entrepreneur Award
  • Social Entrepreneur Award
  • Lifetime Achievement Award

Nominations for the 2023 AWIEF Awards are open and will close on 17 July 2023. Candidates can either self-nominate themselves or be nominated by anybody else. Entries will be judged by an esteemed panel of business leaders and professionals.

The winners will be announced at a special ceremony and gala dinner in Kigali, Rwanda, during the AWIEF2023 Conference which will take place on 9 and 10 November 2023.

To nominate someone for an award, follow these steps:

  • Click here
  • Register your entrant profile by clicking “Submit an entry” in the top right-hand corner of the page.
  • Fill in the nomination form and submit.

Nominations close at 23.59 CAT on 17 July 2023.

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