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Charcoal Export as Money Spinner



  • Charcoal Export as Money Spinner

Not many people know that the charcoal industry is a money spinner. According to the United Nations, Nigeria exported 80,000 tonnes of charcoal worth €25 million ($29 million) in 2007, making it one of the biggest exporters of the product worldwide.

The call for alternative energy sources has increased the demand for charcoal with a large market for it in the European Union (EU), United States (US) and Asia where prices range from 200 Euro to 250 Euro per tonne.

An export consultant, Sunny Anjorin said Nigerian charcoal is in high demand in EU countries because they are of good quality. He lamented, however, that not many Nigerians know this. Anjorin has promised to help exporters source charcoal from Iganna in Oyo State.

Charcoal from Iganna and Mokwa in Niger State are sold in Belgium, the United Arab Emirate, UK, US, Asia and Turkey.

Chief Executive, The Thy Consulting, Ismail Abdul Azeez said the demand for charcoal had grown across Europe. His company has been exporting on the average 200-300 co2ntainers of hardwood charcoal monthly to EU, adding: “EU customers want charcoal that is compliant with quality control in terms of size and moisture content,” he said.

Households, he said, are involved in the production of charcoal in Iganna with graduates starting on a large scale.

The export of charcoal is an all-year round business that with slight dips between July and September. But exporters make a lot of money during the summer (May to August), when demand is high.

Europeans place orders during this time of the year while in Asians order the product throught the year. The UK, followed by Dubai, remains one of the largest consumers of charcoal.

Azeez said charcoal production is a big business which though cumbersome, gives good profits.

Producers, he said, also export charcoal dust to the UK where it is blended with coconut shells from Brazil and used for molding refined charcoal blocks. These, according to him, are sold in big stores abroad.

He said charcoal production could only be done by anyone who could persevere, adding that it is for the hardworking people.

Abdul, who has been engaged in charcoal export for over seven years, said he gets requests for the supply of the product from Asia with restaurants, barbecue and industries as clients.

Charcoal is categorised. According to a research, those in the industrial category falls within the 20mm to 60mm size, others range from 20mm to 80mm and restaurant’s are between 20mm and 140mm.

He said one needs between N1.5 million and N2million to do a container export of charcoal.

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


Lagos State to Support Businesses Looted by Hoodlums



endSARS violence

Lagos State to Support Businesses Vandalised and Looted by Hoodlums

Lagos State has announced plans to support businesses looted and vandalised by hoodlums last week.

The Deputy Governor of the stated, Obafemi Hamzat, made this known in a series of tweets put out on Friday.

He directed businesses vandalised in the state to fill a form attached through the link below.

“If you are a Lagos based business and your store got looted/vandalized this week, please fill this form by @LSETF Let’s do what we can to support you,” he tweeted.

This was after Governor Babajide Sanwo-Olu said the state had activated the process of healing the destruction and massacre that happened earlier in the week when security operatives in army uniforms opened fire on armless #EndSARS protesters.

Sanwo-Olu said, “My heart bled after I went out today for a first-hand assessment of the destruction of assets of the Government and private properties. The level of destruction observed indicated that the violence was more than just a peaceful protest and agitations for police reforms. The proportion of devastation is a lot. This is not the Lagos that was handed over to me on May 29, 2019.

“Moving forward from the destruction, we have to continue the process of healing ourselves. We need to stop some of our citizens still using social media to instigate or incite the people. It will not be under my watch that we will lose the city that has the largest economy in the entire black nation. Enough is enough. I have moved around and I saw that our people want peace. On this, we are committed to bringing lasting peace back to the State.

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TVC Resumes Operations in Lagos Office Following Hoodlums Attack




TVC Commences Operations Less Than 72 Hours After Hoodlums Attacked and Destroyed the Company’s Lagos Office

Television Continental (TVC) station has resumed operations less than 72 hours after its Lagos office was attacked by hoodlums that hijacked the #EndSARS protest.

The television station was attacked on Wednesday by criminals would believe that the media platform was owned by one of the top Buhari supporters, Mr. Bola Ahmed Tinubu.

The attack followed the shooting of unarmed #EndSARS protesters, who had gathered to protest against the activities of the Special Anti-Robbery Squad (SARS) unit of the Nigerian Police Force (NPF) at the Lekki Toll Gate on Tuesday.

The peaceful protesters were shot by security operatives in Nigerian Army uniform before the commencement of curfew imposed by Governor Babajide Sanwo-Olu of Lagos State.

The killings now tagged Lekki Massacre attracted global attention as global leaders condemned the Federal Government or whoever ordered the shooting and called for an immediate investigation into the matter.

On Wednesday, criminals allegedly sponsored by interested parties to dislodge peaceful protesters took advantage of the situation to wreak havoc across Nigeria’s commercial hub, Lagos State, as several private establishments businesses were attacked and looted by these unscrupulous characters.

One of the establishments attacked was the National Newspaper also linked to Mr. Tinubu.

The hoodlums stormed TVC on Wednesday morning during a popular morning show, Your View, anchored by Mrs Morayo Afolabi-Brown, the programme did not end before the television station went off air as it was immediately set on fire.

However, Investors King gathered that TVC resumed operations on Saturday morning, although regular programs were yet to resume fully.

As at the time of writing, the station was airing promos of various programmes and from what we gathered, regular programming will return very soon especially from its Abuja office.

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Ambassadorial Deal: Puma Names Wizkid as Brand Ambassador



Wizkid is Puma Latest Brand Ambassador

Puma, global sportswear, has named Nigerian superstar, Ayodeji Ibrahim Balogun popularly known as Wizkid as one of its global ambassadors.

Wizkid, 30, is the new Puma x JD ambassador for the relaunching of the Puma Suede Classics range.

Speaking on the deal, Wizkid said “It’s an honour to be the face of the new JD x Puma Suede Classics campaign.

“Puma is a brand I’ve loved and respected growing up, and so the decision to become an Ambassador felt completely natural. The Puma Suede is a classic shoe that can be worn by anyone at any age and I think my fans will really connect with that.”Also speaking on the partnership, Puma’s Sportstyle marketing director, said “We’re thrilled to have Wizkid as the face of the new Puma x JD Suede campaign.

“A truly innovative and exciting artist in the music scene, Wizkid embodies the passion and hustle we look for in someone to represent Puma and we look forward to working with him for the AW20 season.

Wizkid is a Nigerian musician and songwriter that has worked with Beyonce, Drake, Wale and other international superstars.

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