A Nigerian leading, globally recognized courier/cargo firm, ABX WORLD (NIGERIA), is increasingly making its mark in the world stage with the company’s developing role in agro-allied products exports and markets across Europe.
In its latest drive, ABX WORLD, an EU certified (EUC) cargo agent, has signed agreement with Arik Air and Skyway Aviation Grand Handling Company (SAHCOL) as cargo airline and process handling company, respectively.
Both Arik Air and SAHCOL are also EU certified with ACC3 and RA3 certifications respectively; such an evidence of the acceptability of EU Governments to rely on the due compliance of ABX WORLD and the partners to help ensure that all laws are abided.
EUC compliance assessment is defined as a “demonstration that specified requirements relating to a product, process, system, person or body are fulfilled.”
There are many of these compliance assessment activities applied in today’s world including accreditation, certification, inspection, registration, supplier’s declaration, and testing, and the trio recently demonstrated their competencies to EU teams.
Relying on a thriving partnership, ABX WORLD, fully backed by the Nigerian Civil Aviation Authority (NCAA) as an “Authorized Cargo Agent”, is set for an unrivaled speedy export of agro-allied produces, especially perishable items such as vegetables and fruits.
Obviously, the stability and sustainability of the world economy have been and still depend on agriculture, because agriculture is the major source of survival for man, animals and the industrial sectors through the provision of food and raw materials according to STAN in 2000.
In other words, agriculture is taking back as the leading contributor to the economy; hence oil & gas sector is seriously in shambles.
According to the founder and Chief Executive Officer of ABX WORLD, Captain John T Okakpu, Nigeria has immense agricultural potential, even as only 40% of her 84 million hectares of arable land cultivated, plus 263 billion cubic meters of water – (having two of the largest rivers in Africa).
In addition, Nigeria has the required manpower to support agricultural expansion. With an estimated 80 million farmers, Nigeria can cultivate enough food for its people and feed the world too, Captain Okakpu said optimistically.
He added that, ABX World believes tapping into the sector can only be sustainable when the private sector expertise is allowed to thrive
He said, “There is a need to engage the private sector, investors, local banks and International Financial Institutions with the view of connecting (Supply chain) the vast investment opportunities of Nigeria Agriculture with local and international investors. Putting together all sectors in Nigeria especially Agriculture will surpass the $128.00 per barrel of crude oil needed to balance the budget. That is where most Nigerians and world misunderstood General Muhammad Buhari (GMB), the newly President-elect of the Federal Republic of Nigeria when he was credited for saying the he will stabilize the prize of crude oil.
“Yes, there are more to it: Agriculture is not just farming but involves the supply chain management as a critical sub-sector”.
On the choice of Arik Air as cargo airline partner, he said that as Nigeria’s leading commercial airline, the airline was the first to operate a fleet of 26 state-of-the arts regional, medium haul and long haul aircraft including two Airbus A340-500 making the airline the first operator of the wide bodied aircraft in Africa
According to the ABX WORLD CEO, when Arik Air commenced its cargo operation in 2011, it actually strengthened the intercontinental cargo operations by adding Johannesburg, South Africa to the already running import activities from London Heathrow and New York JFK
This means that Arik Air’s guests now have an unprecedented freighting opportunities and possibilities.
The airline operates the wide body Airbus A330-200 on the Lagos-Johannesburg route and this aircraft has a large cargo compartment.
Similarly, SAHCOL as the process handling company with state-of-the-art facilities “serves as a major gateway to import and export in the Nigerian Aviation Sector, ensuring that cargo, courier and mails are properly handled, managed and warehoused in its custom bonded warehouse, pending the due process of clearing”.
SAHCOL provides bonded import, courier and export warehousing services mainly in Lagos, Port Harcourt, Kano and Abuja, which are central to the agro-allied process and export business.
Speaking further on the expected impact of the new trend, he said the whole of agro-allied business ABX Worlds mulls can even generate over 20million jobs for the teeming youths in the country in the areas of farming, harvesting, packaging, branding, and other exports gamut.
“The challenges we have as a nation, of course, present opportunities that could be tapped into for value addition and profitability. How can these be communicated to the agile youth-farmers, logistics companies, investors, and foreigners who have interest in Nigeria’s agro-produce? That is the basis for ABX World’s interest to educate the youths that all of us cannot live in the city. You can make impact, create wealth and live a fulfilled life while residing in the rural areas” and home towns.
Also, ABX World ability to have adequate quantities of commodities will ensure very competitive prices, availability of supplies and of course acceptable quality levels required by the multinationals.
Meanwhile, BOOSH PRODUCE of UK is one of the agro supply chain in Europe already working with ABX WORLD.
As part of preparations for the commencement of the program, ABX World had engaged competent and IATA certified consultants for refresher courses for the staff; which has been applauded by Arik Air and SAHCOL managements.
ABX NIGERIA is a first class globally recognized courier/cargo firm incorporated in 1998 with 55% foreign equity investment; incorporated in Nigeria as Airborne Express Nigeria Limited and was the sole licensee of the Airborne Freight Corporation from 1998.
The global network that we operate at ABX WORLD is very richly enhanced by our strategic alliances with some of the biggest and best players in the industry as follows; World Freight Alliance (WFA) www.wfalliance.com; Pilot Air Freight based in USA (www.pilotair.com); African Transport Logistic Alliance (ATLA) www.atlalliance.com and LHR Global Logistics in UK (www.lhrglobal.com). Operating from this background, we are able to pick up your shipments from more than 500 of our international offices spread across the world. We clear your shipments from the air or seaports and deliver on a door to door basis, thereby freeing you from the troubles and challenges in engagement with customs. ABX WORLD is properly positioned and thoroughly enhanced to provide edge cutting service at record speed to all our local and international clientele.
Picture: The trio- ABX WORLD, SAHCOL and Arik Air Partner for agro-allied exports.
CBN Pulls Rate Cut Trigger, King Dollar Returns
By Lukman Otunuga, Senior Research Analyst at FXTM,
In a move that caught investors off-guard this week, the Central Bank of Nigeria (CBN) slashed interest rates by 100 basis points bringing the MPR to 11.5%. Given how inflation has been above target since 2015, rates were expected to remain unchanged for the rest of 2020 and possibly early 2021.
The question on the mind of many is whether the rate cut will achieve the desired effect by stimulating consumption and economic growth? Ongoing border closures and disruptions created by COVID-19 have pushed inflation to levels not seen since March 2018 above 13.20% while a drop in the production and price of Oil continues to rub salt into the wound. While looser monetary policy could support growth, it may come at the cost of rising inflation and weaker Naira.
Over the past few months, central banks across the globe have deployed unprecedented measures to defend their respective economies against the coronavirus menace. However, fiscal policy has been identified as the sharper tool with governments across the world providing a critical lifeline to keep the wheels of their respective economies rolling.
Outside of Nigeria, King Dollar made a return by appreciating against every single G10 currency. In times of uncertainty, everyone wants a juicy piece of the world’s most liquid currency. As coronavirus cases rise in Europe and other parts of the world, the flight to safety is likely to boost appetite for the Dollar. This is bad news for many emerging markets currencies, especially those with high Dollar-denominated debt.
On the commodity side, Oil prices remain heavily influenced by demand-side factors and the state of the global economy. Prices are likely to remain stuck around the $40 regions in the near term, especially If another round of possible lockdowns hit Oil demand. Looking at the technicals, WTI Crude is under pressure on the daily charts. If prices are unable to break away from the sticky $40 regions, the next key point of interest remains around $38. A weekly close above $41.50 could pave a path towards $43.
NCC Arrests Man for Hacking into DSTV System
Nigeria Copyright Commission (NCC), has arrested one Mr Aliu Olalekan, for allegedly hacking into DSTV system and watching the channels free without subscription.
Mr Matthew Ojo, NCC Director in the Lagos Directorate Office said this while speaking with newsmen in Lagos, on Tuesday.
He said that the suspect used to watch DSTV channels free without subscription on his Android phone via an app which he downloaded on google play store.
“This suspect distributed the know-how to his telegram followers and on his blog with the aim of gaining more followers and viewership on his blog and makes more money through google ad-sense.
“The operation was based on surveillance which had earlier been carried out by the Multi-choice team and verified by a copyright inspector, ” he said.
He added that the arrest was made in collaboration with a team of copyright inspectors led by the Head of Enforcement Department, Mr Charles Amudipe.
Others included; a team from Multichoice Nigeria led by Mr Umar Ibrahim and policemen from Lagos Command Headquarters, Ikeja.
Ojo said that the joint team conducted an anti-piracy operation at the premises of the culprit in Amukoko, Lagos.
According to him, the suspect was contacted on phone by a member of the operation team on the disguise of patronising him. “The suspect came out to meet the caller and in the process of discussion, he was apprehended.
“The suspect took the team to his resident. The squad paraded his one-room apartment and recovered his laptop and phones used in perpetrating the ungodly act. “He was arrested and brought to the copyright commission office for further investigation, ” he said.
Ojo said that, on getting to the commission’s office, the statement of the suspect was taken and the inventory of items seized from him taken. He said that investigation on the matter was still ongoing and if found guilty the suspect will be charged to court.
NCC, Digital Encode Support NITRA Innovative Tech Forum On Post-COVID-19 Strategies
The Nigerian Communications Commission (NCC), Nigeria’s telecommunications regulator and Digital Encode, Cybersecurity and Compliance advisory company, have indicated interest to partner with the Nigeria Information Technology Reporters Association (NITRA), the national umbrella body of ICT reporters, as it organizes a forum that will x-ray the industry’s future plans for ICT growth post pandemic era.
The event, slated to hold on October 15, 2020, will seek to discuss the needs for a fortified ICT sector after the COVID-19 era, and the level of preparedness of ICT stakeholders to embrace the challenge of being pivotal to the stability and growth of all other sectors.
A statement from NITRA National Secretariat in Lagos indicates that due to the pandemic and need to observe the COVID-19 protocol on social distancing, the event will be held via a Webinar.
This year’s theme, “Multi-stakeholder Approach To National Recovery Post-Pandemic”, is in line with the annual event’s generic theme, ‘NITRA Innovative Tech Forum’, a contribution by NITRA to the development of Information and Communication Technologies (ICTs) innovations and policies in Nigeria.
Prof. Umar Danbatta, executive vice chairman, NCC is expected to deliver the keynote speech at the event and will throw more light on Federal Government’s plans, programmes and policies on post-pandemic strategies using ICT.
Dr. Adewale Obadare and Dr. Seyi Akindeinde, founders of Digital Encode, while accepting to support the event expressed their readiness to offer their expertise in Cybersecurity for organisations to prepare against cyber- attacks with the new normal.
They will also highlight areas that are high risks that need fortification in terms of cybersecurity.
Speaking on the event, Mr. Chike Onwuegbuchi, national chairman, NITRA, noted that as the COVID-19 pandemic continues to leave its negative trails across the globe, economic reboot for countries will not only depend on how well they readapt to the new normal, but also more on their recovery plans.
According to him: “While the federal government has consistently expressed its willingness to set all policies in place to engender growth, and accelerated implementation of these policies, private sector firms have also shown great hunger for the task ahead in post-COVID-19 era.
However, the question that needs to be answered is whether all stakeholders are ready for the required task ahead.”
The event will also offer participating companies opportunities to publicize some of their individual efforts at contributing to reacting a soft landing or lifeline for SMEs and other ancillary companies as the pandemic threatens their survival.
Digital Encode is a multi-award winning and leading consulting and integration firm that specializes in the design, management, and security of business-critical networks, telecommunications environments and other Information Technology (IT) infrastructures.
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