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Infrastructure is a Challenge – Aniebonam

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Dr Boniface Aniebonam, chairman board of trustee of National Association of Government Approved Freight Forwarders (Nagaff), has  harped on the need for improved infrastructure in the country to foster an environment  healthy for industrial growth and global competitiveness. 
Aniebonam said in an interview recently in Lagos that Nigeria’s growth prospect will be greatly enhanced if basic infrastructure is improved as it will better position the nation to effectively compete even among most industrialised nations of the world.
“I am very much encouraged by what the Lagos State government has been doing despite its limited resources. I am also pleased by some of the steps taken by government to develop infrastructure like the concession of the Lagos-Ibadan Expressway to a private company to manage. I’m very confident that policies such as these will greatly strengthen the Nigerian economy,” Aniebonam said.
The Nagaff boss who has remarkably improved the fortunes of freight forwarding in Nigeria by establishing a freight forwarding academy, said that in a bid to keep the business running, stake holders in the industry have invested huge funds into the provision of basic infrastructures and that this is often passed down to the consumers who have to pay more for services rendered.
He also maintained that while big multinationals like China shipping and Maersk line can afford to secure some of these costly infrastructural facilities, smaller indigenous companies cannot.
“Most of us in the industry are actually running our operations on generators. We are in a good position to get gas pipeline which will reduce our energy cost but we have to run their operations on diesel, which of course is reflected on the cost of services rendered to importers and manufacturers, and which ultimately reflects in the price that the Nigerian consumer has to pay,” he said.
He added that while government strives to provide infrastructure on one hand, it should ensure there is a level playing field by taking another look at its liberalisation policies, noting that though it is a good idea to try to protect the local industry, using the liberalisation plan, there is a need to apply some caution so that the local industry don’t become complacent and lose its sense of competition.
 “We look at the import of tariffs, which I fully understand is to protect the local industry. But they all will have to be competitive. As a service industry, we would like to drive down the cost of services which we provide and make it  more accessible, “he said.
Boedinger, who disclosed that Nigeria is Africa’s second biggest Unilever market after South Africa, also denied insinuations that the company was planning to move its operations to Ghana, adding that 86 years ago, when it commenced operation in Nigeria Unilever made a deliberate decision to manufacture its products locally. This is in line with its belief that companies should operate in the market where they will like to be found, and where they do business.
Highlighting some of the drawbacks of poor infrastructure, Boedinger said that Nigeria has huge unemployment problem because the manufacturing sector, which is one of the biggest employers, currently operates below capacity. He maintained that with good infrastructure, foreign investors would show more interest in Nigeria, and this will provide avenue for job creation.   
“Unfortunately at the moment, only 46 per cent of GDP is coming from the manufacturing sector. This is the opportunity we all have, as a society, to address and create jobs for Nigerians,” he said.
While commending the Lagos State Governor, Raji Fashola on his palpable achievement in the area of infrastructure, he charged the Federal Government to be more consistent in the application of policies. “I think the regulatory framework is fine, but it is more of a problem of application and implementation of these policies,” he said.
He applauded government’s decision to concession the Lagos-Ibadan Expressway to a private company to manage, adding that the way to achieve sustainable development in the provision of infrastructure is to hold people accountable, provide good governance and let people believe in the government and its workings.
Speaking further, he charged Nigerians to be positive and focus more on the opportunities instead of the many problems in the environment.  “It is more of ‘what do we see – opportunities or problems? Even against all odds, if we are committed to growth, and convince ourselves that we have the energy and the willingness to make it happen, we can make it happen,” he said.

 


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Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

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Legit.ng recently joined forces with the Shade of Life Foundation to become a voice of autism, and drive advocacy for improved media support during Autism Awareness Month.

Legit.ng, Shade of Life Foundation Partner to Advance Autism Awareness in Nigeria

Participants at the event

Conversations around media support exploration was led by Joseph Omotayo, head of Department for Human Interest Stories at Legit.ng, and Dr. Eziafakaku Nwokolo, founder and CEO of the Shade of Life Foundation,

This partnership is a response to the concerns raised by organizations like the Shade of Life Foundation about the level of support received from the media in discussing autism as a disability.

While other disabilities may receive attention, autism, with its critical developmental implications often lacks adequate representation in mainstream media.

Recognizing the importance of addressing these concerns, Legit.ng took proactive steps by integrating itself into the essence of autism awareness.

It facilitated a one-hour workshop with Dr. Nwokolo, the founder of the foundation, to deepen our understanding of autism, its various spectrums, and the language boundaries associated with it.

Other steps we took in advocating autism awareness in the media, can be seen in our attached press release.

Legit.ng believes that by amplifying the voices of autism and advocating for better media representation, we can contribute to creating a more inclusive and accepting society for all.

 

 

 

 

 

 

 

 

 


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As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply

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While 85 per cent of Nigeria is in darkness, Tanzania, an African country has shut down five hydroelectric stations in a bid to reduce excess electricity in the national grid.

As Nigeria Struggle, Tanzania Turns off Power Plants Due to Excess Supply

Kassim Majaliwa, prime minister, Tanzania, has said the main plant, Mwalimu Nyerere Hydroelectric Station, alone generated enough electricity to power major cities, including Dar es Salaam, the country’s commercial hub.

It is the first time Tanzania, which suffers chronic power shortages, has closed hydroelectric stations due to excess production.

“We have turned off all these stations because the demand is low and the electricity production is too much, we have no allocation now,” an official from state-run power company, Tanesco, said.

The 2,115MW Julius Nyerere Hydropower Dam is said to be almost filled with water following heavy rains that started early this year.

Meanwhile, while the country has an installed capacity of 1,938MW and the grid installed capacity of 1,899MW, Nigeria which has an installed capacity of 13,000MW is struggling to electrify 85 per cent of its electricity consumers.


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CBN Licenses Unified Payments as Second Provider for PTSA Services for Nigeria

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Central Bank of Nigeria (CBN) has awarded the country’s second Payment Terminal Service Aggregator (PTSA) license to Unified Payments, Nigeria’s premier financial technology company, following a rigorous and transparent process,

CBN Licenses Unified Payments as Second Provider for PTSA Services for Nigeria

The move is targeted at enforcing existing requirement that all transactions from point-of-sale channels in Nigeria must go through a licensed Payment Terminal Service Aggregator (PTSA).

The CBN is enforcing the laws to clamp down on financial crimes and other market misconducts and it aligns with the CBN’s objectives to fully track all electronic transactions in Nigeria, given the propensity of using such transactions to fund insecurity, violent crimes, banditry, kidnapping as well as other vices.

According to one analyst, “By awarding a second PTSA license, the apex bank has proactively responded to industry operators who had expressed serious concerns about channelling all transactions through a single aggregator, the Nigeria Interbank Settlement System PLC (NIBBS), as has been the case for some years.

“With the new policy direction, payments service providers would henceforth route all transactions through either of the two licensed Companies.”

Other financial analysts and industry players have commended the Central Bank, affirming that “the move can be a massive step in the right direction. They also commended the open, transparent, and inclusive manner via which the selection process was managed, and the license awarded.

“The selection process, which lasted for months, began with an invitation for qualified organisations within the payment industry to submit an Expression of Interest document, alongside other requisite documentation and additional capital requirement of N1 billion.”

 

The new management of CBN decided not to give the license out without going through an open process – and for the first time in licensing a payment service provider – the apex bank went through a public bid process outlined in its publication of Friday, January 5, 2024, in different national newspapers. At the end of the process, Unified Payments emerged as the most preferred service provider.

Unified Payment Services Limited, also called Unified Payments or UP, is a shared service provider within Nigeria’s financial technology sector owned by a consortium of Nigerian banks. For over 26 years, the firm has provided payment technology to banks and other industry operators. The first and only non-bank entity that is a principal member and licensed acquirer of all of American Express, Mastercard, Visa, UnionPay and Payattitude. Unified Payments facilitates both local and international transactions.

Formerly known as ValuCard Nigeria Plc, Unified Payments led the way to introduce POS payments in Nigeria under its card scheme known as ValuCard which is the first payment card to be issued in Nigeria. The company later transformed into a scheme-neutral and option-neutral service provider enabling transactions under different schemes.

The company has continued to provide leading payment technologies and services, enabling different operators to leverage its capabilities and licenses, enabling prompt and seamless transactions.

Among the shareholders of Unified Payments are First Bank, Access Bank, United Bank for Africa (UBA), Guaranty Trust Bank Plc, Zenith Bank and Fidelity Bank. Other shareholders are Citibank Nigeria Limited, Ecobank of Nigeria Plc, First City Monument Bank Plc, Keystone Bank Ltd, Polaris Bank Ltd, Stanbic IBTC Bank Plc, Sterling Bank Plc and Wema Bank Plc.


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