There’s no luck in business. There’s only drive, determination, and more drive- Sophie Kinsella
The Coordinator of natnudO Foods’ broilerout-grower scheme tagged “natnuPreneur”, Mr. Gbolade Adewole, has disclosed that farmers registered under the six- seven week broiler production scheme, have consistently enjoyed between 7.5% and 15% profit on investment per cycle. With a potential to conclude 5 cycles per year, efficient farmers stand to make between 37.5% – 75% profit perannum, making natnuPreneur “broiler out-grower” the most profitable poultry scheme in the country.
Adewole made the revelation while addressing journalists at a press briefing on Tuesday, August 15, 2017 in Lagos.
He also disclosed that between October 2014 and July 2017, poultry farmers registered under the three year ‘pilot phase’have reared over 4 million birds and the firm has off-taken birds to the value of over 4 billion naira.
Mr. Adewole stated that the natnuPreneur initiative is not only in the business of providing a ready market for broilerfarmers, but also in ensuring that they are consistently in business andthat they make profits that can be sustained consistently over time.
“We treat our farmers’ farms as our own and invest a lot of time in ensuring their poultry businesses are run with global best practices as we run and manage ours,because we believe that oursuccess is closely tied to the success of our farmers”.
“Our vision is to create passionate, knowledgeable, and wealthy poultry farmers nationwide through sustained profitability”
“It is not enough to help farmers achieve profitability after just one cycle. We have heard of many out-grower schemes in the past where farmers make millions but couldn’t retain it afterwards. What we are most concerned about is that the profit our farmers make increases and is sustained. In other words, we make and retainbroiler millionaires through frequent training on poultry management processes and continuous monitoring/supervision of farm activities”
He further emphasized, “We help our farmers understand the dynamics of poultry business through effective and regular training, monitoring and mentorship. We also help them increase efficiency of productionby taking them through good management practices on how to manage their resources, using our Net profit calculator to understand the details of the economics of broiler production, and how to reduce mortality of birds”.
He further said that in their three years of operation, they have been able to increase the capacity of their farmers in terms of number of birds stocked, thereby making them grow profitably.
“natnuPreneur has a standard operating manual used inmonitoringoptimal farm management,such that, lapsesin standard processes are quickly noticed and broughtto the attention of the farmer. Asidefrom this, we pay weeklyvisits to farms to monitor their progress and offer businessand technical advice when needed. These activities have helped to achieve the success level recorded by our farmers so far.
According to him, “these processes are what distinguish natnuPreneur from other broiler out-grower schemes the country has witnessed in the past”.
In terms of societal impact, Adewole pointed out that natnuPreneur has created thousands of direct and indirect employment across the country.
“natnuPreneur has directly employed 150 graduates, working as extension officers (Farmer Satisfaction Representatives, in the Feed mill, hatchery and abattoir) and there are plans to recruit 60 more to manage the increase in capacity. Presently, the initiative indirectly influences the employmentof over 5,000 people, who work at various levels with farmers and farmer cooperatives”.
“There is a potential to have additional 1 Million people, directly working with natnuPreneur in differentcapacities, within the entire value chain (Feed Mill, Hatchery, Logistics and transportation, Chicken processing, Chicken distribution/sub distribution and our Retailers, called natnuPreneur Seller” He said.
He further revealed that the scheme,which has engagedseveral small and medium scale broiler poultry farmers, is intended to help boost supply of high quality locally bred chicken for consumption across the country, making quality chicken available as well as affordable to all Nigerians.
Adewole revealed that the credibility of the scheme, has over the years, earned them partnership with many commercial banks like Sterling bank, Heritage bank and Jaiz bank, as well as many microfinance banks in the country, while adding that the scheme has also attracted the Anchor Borrower programme of the Central Bank of Nigeria (CBN) where we have partnered with Bank of Agriculture(BOA), Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL) and Bank of Industry(BOI).
“We have collaborated with these institutions and shared resources in the process. The learning, data gathered and analyzed over this period has been used constantly to optimizeour processes and improve our systems. This is then feedback into our systems and in house application developed specifically to monitor our performance”.
He then concluded that the NatnuPreneur scheme is set to reposition poultry out-grower service in Nigeria by supporting the establishment of new broiler farms and expanding existing ones in the nooks and crannies of the country.
While also addressing newsmen,Dcn. Toromade Francis, General Manager, Policy and Strategy, Amo Group and Mr. Oloruntoba Emmanuel, General Manager, Amo Byng, a member company of Amo Group called on governments at all levels to be more proactive in curbing the menace of smuggling chicken products into the country and also support the local production of maize and soya, adding that if this is done, the initiative will be able to create more employment opportunities, absorb over 10 million people and add significantly to the overall GDP of the nation.
Sharing their experiences, two long term natnuPreneur farmers, Dr. Robinson of Kadapo farms in Kwara State and Mrs.TomoriofHoney Dew farms, Oyo State, made highly complementary comments and confirmed the claim made by the AMO FARM’s team.
Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2017 to the Nigerian and London Stock Exchanges.
A review of the half year performance, shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 2% to ₦214.1billion from ₦209.9billion reported in the June 2016; driven primarily by growth in investment securities income as well as income from risk assets. Profit before tax stood at ₦101.1billion, representing a growth of 18% over ₦85.69billion recorded in the corresponding period of June 2016
The Bank’s loan book dipped by 6% from ₦1.590trillion recorded as at December 2016 to ₦1.491trillion in June 2017 and customer deposits decreased by 1% to ₦1.966trillion from ₦1.986trillion in December 2016.
The Bank closed the half year ended June 2017 with Total Assets and Contingents of ₦3.75trillion and Shareholders’ Funds of ₦538Billion. On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) stood at 38.8% and 6.4% respectively. The Bank is proposing interim dividend of 30k per ordinary shareof 50 kobo each for period ended June 30, 2017.
Commenting on the financial results, Mr. Segun Agbaje, the Managing Director/CEO of Guaranty Trust Bank Plc, said that “Our strong performance in the first half of 2017 reflects the strength of our businesses, the quality of our past decisions and the success of our efforts towards becoming a digital-first customer-centric Bank that offers simple and easily accessible products and services.”
He further stated that “Despite the challenging environment of slow economic growth, we focused our resources on strengthening relationships with our customers, creating business platforms that seek to add value across all customer segments, whilst consolidating our leading position in all the economies in which we operate”.
The Bank has continued to report the best financial ratios for a Financial Institution in the industry with a return on equity (ROE) of 38.8% and a cost to income ratio of 40.2% evidencing the efficient management of the banks’ assets. Overall, the Bank has enshrined its position as a clear leader in the industry. In due recognition of the Bank’s leading role in Africa’s banking industry, owing to its bias for world class corporate governance standards and excellent service delivery and innovation, GTBank has been a recipient to numerous awards over the course of the year. They include Africa’s Best Bank for SMEs and Best Bank in Nigeria from Euromoney Magazine, African Bank of the Year from African Banker Magazine, Best Banking Group and Best Retail Bank from World Finance Magazine, Best Bank in Africa for Corporate Governance from Ethical Boardroom Magazine.
Jaiz Bank Plc has posted a profit of N540.212 million in the first half of the year as against N152.673 million realized in the corresponding period of 2016, showing an impressive growth of 254%.
The unaudited report submitted to the Nigerian Stock Exchange shows that the bank grew its total assets to N80.662 billion in the half year of 2017 compared to N65.230 billion in the corresponding period of 2016.
According to the report, the bank’s shareholders’ fund has increased from N11.302 billion realized in the first half of 2016 to N15.248 billion in the first half of 2017.
Speaking on the impressive results, the Managing Director/CEO Hassan Usman attributed the success to the support from the Board, Management and staff of the bank in addition to our commitment to the business model which is hinged on a better life for all our stakeholders.
He said “the results attained so far already prove we are doing better than 2016. This year will define how we move forward; we are in the process of creating a five-year plan that will further define our identity in the Nigerian banking space. We have ambitious ideas about what we would like to be, and the Board and the shareholders are committed to ensuring we become a formidable player in the market”.
On the bank’s focus for the remaining part of the year, the CEO said more branches would be opened in different parts of the country and “our strategy is to provide retail banking to a large segment of the society who are desirous of our products and services.”
“We are focused on building on our culture of ethics and taking the necessary decisions to align our perspective with client expectations.”
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has disclosed that Nigeria will soon benefit from the deep sea mining. This will be achieve through effective harnessing of the opportunities by working
The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stated that Nigeria is set to benefit from the deep sea mining through effective harnessing of the opportunities by working with the International Seabed Authority (ISBA).
The NIMASA DG who made this known at the opening ceremony of the 23rd Assembly of the International Seabed Authority (ISBA) held in Kingston, Jamaica said that irrespective of the numerous resources in Nigeria, there was the need to work more closely with the ISBA in the area of seabed resources exploration.
Dr. Peterside who led the Nigerian Delegation to the event commended ISBA on its role in the optimal utilization of seabed resources among maritime stakeholders and solicited for assistance in the area of capacity building to survey deep sea and establish data base of mineral resources available for the benefit of all mankind.
He stated further that the Federal Government is currently developing policies that will aid the harnessing of seabed resources and will be working closely with the ISBA.
According to Dr. Peterside, “the Nigerian Federal Ministry of Transportation is developing a country blue economy policy and strategy which will incorporate the sustainable development of the country’s deep seabed resources”.
Speaking further, he said at the moment the Nigerian Navy Hydrographic office has been undertaking hydrographic survey and charting of our maritime area, and added that in the same vein NIMASA is working with Nigerian Navy to effectively enforce the United Nations Convention on the law of the sea and other relevant international maritime instruments to which we are a party around our continental shelf.
He also noted that, while seeking exploitation of the mineral resources within the Seabed off our national maritime jurisdiction, marine environment preservation and protection will continue to be given top priority.
Dr. Dakuku used the opportunity to congratulate Mr. Michael Lodge of the United Kingdom on his appointment as Secretary General of ISBA Council and Eugenio Joao Muianga of Mozambique on his election as President of the Authority’s 23rd session.
He added that Africa is proud of the feat of Eugenio Joao Muianga and pledged that Nigeria is ready to cooperate with and support the work of the Authority while looking forward to benefiting from available opportunities.
The International Seabed Authority is an autonomous international organization established under the 1982 United Nations Convention on the Law of the Sea and the 1994 Agreement relating to the Implementation of Part XI of the United Nations Convention on the Law of the Sea.
The Authority, which has its headquarters in Kingston, Jamaica, came into existence on 16 November 1994, upon the entry into force of the 1982 Convention and as at July 25, 2016 it has 168 member countries of which Nigeria is one.
Stakeholders from different professional sectors have commended Global Interns Company for its Career Connect Series workshop. They described the initiative as apt for students and would help to bridge the career knowledge gap experienced before or after a chosen career path.
The workshop with the theme “Career Planning and Internship Opportunities”, is being organised for students in senior secondary, fresh high school graduate as well as undergraduates. It is scheduled to hold on Tuesday August 22, 2017, at the new venue, “The Incubator,” 7/8, Chief Yesuf Abiodun Way, City of David Road, Oniru, Victoria Island.
Mr. Caesar Keluro, chief Executive Officer, Ideasvibe Media, explained that Career Connect Series is an ample platform to discuss new paradigms, technologies, cultures that are altering our workplace and our society.
He noted that with the ever-evolving and competitive job market, career path is more about being adaptive in this digital age and understanding the skills in high demand, and those facing potential extinction. “Kudos to Global Interns Company for bringing this up in this age of disruption,” he said.
Mrs Bello Geraldine, a legal practitioner and parent, said the workshop is a welcome development, as lots of students do not know what they are doing. She added that the initiative should be taken to the grassroots where career choice mistakes are mostly made.
Geraldine maintained that making wrong choices and being stereotyped has to do with their parents that should be educated. “They are the best people to be educated as children follow their dictates,” Bello stated.
Mr Femi Adetayo, the Chief Executive Officer of Onestopmotivate, believes the workshop is a good initiative that students need in this present era. He described it as unique and Global Interns Company should be commended for this uncommon initiative.
Intending participants who have registered are excited; they described the workshop as an appropriate forum to get feedback on career related question as their studies progresses.
Chief Executive Officer of Global Interns Company, Mrs. Olufunmilayo Modupe reiterated that the theme of the workshop is ‘Career Planning and Internship Opportunities’, and maintained that the overall objective is providing guidance in career choices whilst creating opportunities that will grow the career through work experiences.
“We are making possible ‘the transition of knowledge from the professionals back to the students’ with an intention to nurture”, she said
She further affirmed that the general students and parents excitement towards the upcoming workshop is an indicator of its relevance. According to her, the workshop would help participants to understand the know-how of career planning through engaging sessions that would offer feedback on Career Frequently Asked Questions.
The workshop features also include experts’ viewpoints on “Technology in diverse career choices” and “Career of this Age.” Modupe added that her organization through the workshop is focused at helping students better understand how internship can build and enlarge their career aspirations.
Interested participants are required to send name and school to 09095693593 or 07037091407 via the short message service (SMS) platform for registration.
Global Interns Company is a student-centred organization connecting college and high school interns to rewarding internship jobs and volunteering programmes in Nigeria and Ghana. It also provides professional and sound career advisory services to all its student subscribers.
In a bid to boost the Nigerian Sugar Industry, BUA Group has signed a pact with the Federal Government till 2023 and has committed to developing two sugar estates in Kwara and Kogi states as part of its contribution to strengthening the local sugar industry.
Already, BUA’s 300million dollars investment in its subsidiary, Lafiagi Sugar Company (LASUCO), is one of the largest private led investments in that region of the country. When it fully comes on stream, BUA Group’s $300million investment in the 20,000 hectares Lafiagi Sugar Estate which covers a sugar plantation, sugar mill, refinery and ethanol plant and is expected to produce about 1.5 million metric tonnes of raw sugar annually, 25million litres of ethanol, generate 35megawatt of electricity and create employment opportunities for over 15,000 people directly and indirectly.
Foremost African financial institution, Guaranty Trust Bank plc, marks its listing on the London Stock Exchange.
To mark the 10th anniversary of this pioneering feat, the MD/ CEO of GTBank, Mr. Segun Agbaje led the Market Open Ceremony at the LSE on Friday, July 28, 2017, accompanied by senior representatives of the Bank and other institutional partners including JP Morgan, Morgan Stanley and Banwo and Ighodalo.
Recall that the bank became the first Nigerian bank to list on the London Stock Exchange (LSE), the first to dual list on an international exchange and the first Nigerian company to raise international capital using listed Global Depositary Receipts.
The London Stock Exchange is a diversified international exchange that offers international business, and investors, unrivalled access to Europe’s capital markets. In July 2007, GTBank embarked on a concurrent international and domestic equity offering by way of Global Depositary Receipts to raise funding for general corporate purposes. At the completion of this unprecedented offering, the Bank raised approximately US$825 million and became the first Nigerian company to obtain a full listing on the Main Market of the London Stock Exchange. Since its listing on the LSE, GTBank embarked on a decade of unparalleled growth, leading the financial industry in profitability and products and service delivery.
Commenting on the anniversary, Mr. Agbaje, said, “Listing on the London Stock Exchange, one of the most illustrious exchanges in the world, was a pioneering feat which remains fresh in our minds. We are very grateful to all our investors and partners for the integral role they played and their confidence in the Brand. Ten years on, we remain committed to maximizing shareholders’ value and delivering superior and sustainable return; guided by our founding values of hard work, discipline and integrity.”
Guaranty Trust Bank plc [GTB] offers a wide range of financial services and products throughout Nigeria, with strong footprints in West and East Africa, as well as the United Kingdom. In recognition of its leading role in Africa’s banking industry, world class corporate governance standards and excellent service delivery, GTBank has been recognized as the Best Bank in Nigeria by Euromoney (2016), the African Bank of the Year by the African Banker Magazine (2016) the Best Bank in Africa for Corporate Governance (2015) and the Most Innovative Bank in Africa by African Investor (2016).
Nigeria’s Acting President, Prof. Yemi Osinbajo has unveiled a giant world-class fertilizer plant, built by Indorama Eleme Fertilizer and Chemicals Limited at the cost of $1.5 billion in Port Harcourt.
The acting President used the opportunity to remind all Nigerians that time has come for them to grow whatever they eat and produce whatever they consume.
“What Indorama is accomplishing today is very much in line with President Buhari’s vision for a country that produces what it consumes and grows what it eats. If you had to sum up our vision for the Nigerian economy in a few words, these would suffice. Grow what we eat, produce what we consume,” he said.
Prof Osinbajo commended Indorama for keying into the Presidential Fertilizer initiative which President Buhari launched last year to make fertilizers cheaper nationwide.
“At the end of last year, the President launched a Presidential Fertilizer Initiative, to ensure the availability of cheaper fertilizer to our farmers, to support what we’re doing in agriculture, in the production of rice and wheat and other staples.
“That Fertilizer Initiative, now well underway, has created significant economic opportunities for companies like Indorama Eleme Fertilizer & Chemicals Limited.
“I have been informed that Indorama will this year alone supply about 360,000 Metric Tons of Urea to Fertilizer blenders, which, in turn, will produce NPK fertilizer for the benefit of farmers across the country.
“This is the kind of economic progress we’re after, in which every unlocked opportunity proceeds to unlock several others, across multiple sectors of the economy.”
The acting President said that the Buhari administration will continue to support Indorama Eleme Petrochemicals Limited, which was privatised in 2006 by the Federal Government.
According to him, the company has turned out to be a huge success story. “I am glad that we’re here today to see one of the success stories of the Federal Government’s privatisation programme,” he said.
“We will continue to support Indorama Eleme Petrochemicals Limited’s expansion ambitions. Our commitment to the privatisation programme is equally assured, and we will continue to do everything to support investors to maximise the potential of their assets,” he said.
Earlier in his address, the Chairman of Indorama Corporation, Mr Sri Prakash Lohia said that the plant which has capacity to produce 1.5 million metric tons of fertilizer per annum is the largest single-train Urea plant in the world.
The Acting President also presented a Certificate of Discharge to the Chairman of Indorama Group, Mr Lohia and the Managing Director, Mr Manish Mundra for successfully accomplishing the post purchase agreement entered into with the Bureau of Public Enterprises on behalf of the Federal Government of Nigeria.
“Following the 2006 handover, the BPE carried out routine monitoring on the enterprise to ensure that the core investor adhered to and implemented the post-acquisition plan it had laid out for the company.”
“Today is the culmination of that process of monitoring and oversight by the BPE. I am delighted that it is taking place on an inspiring and hopeful note, and that we are all here today celebrating a thriving and promising company. We should not take this state of affairs for granted,” he said.
The Plant has a production capacity of 4000 metric tons (MT) of nitrogenous fertilizers per day or 1.5 MT per annum. The world-scale plant has been built with an investment of USD 1.5 billion, a huge Foreign Direct Investment, funded by the International Finance Corporation (IFC) and a Consortium of 15 European and African banks and Financial Institutions.
Governor Nyesom Wike of Rivers State, in his speech said that for Indorama to invest a whopping $1.5 billion in the state, it shows that the state is safe for investors and their investments. He called on other investors to emulate the footsteps of Indorama.
The fertilizer plant is well supported by Port Terminal at the nearby Onne Port Complex, and a Gas Pipeline of 83.5KM for gas supply.
The plant will bring about a green revolution in the agriculture sector not only in Nigeria but also in other parts of Africa and world at large.
Besides, making the fertilizer products to be available at affordable cost, the plant will boost crop yield to farmers and greatly help in minimizing the food grain deficit in Nigeria.
The plant has also generated lots of job opportunities contributing to the economic prosperity of Nigeria.
The construction of the plant commenced in April 2013 and completed in December 2015. The commissioning activities were concluded in March 2016 and the commercial production started in June 2016.
Teeming with colorful scenes, groovy beats and a melody that you won’t forget easily, the video of GTBank’s 737 theme song 737 moments has all the staples of a hit. Its purpose, though, is not to climb into the charts and claim the number one spot (where it rightly belongs) but to highlight the simplicity of 737 and its availability to every Nigerian at every moment in time.
737 Moments is a celebration of every moment—at home, in the office or on the go—when the bank’s customers have dialed *737# to buy airtime, transfer funds, pay bills or complete any of their transactions. Bereft of a super star cast and featuring people from all walks of life, the 737 Moments Video emphasizes the simplicity and universality of 737 with its promise of Simple Banking for Every Nigerian.