Business
CISI Nigeria members parley on benefits of infrastructure financing
In a strategic move to strengthen its members’ capacity, the National Advisory Council (NAC) of Nigeria Group of Chartered Institute for Securities and Investment (CISI), has identified how to maximise investment opportunities in a volatile market, especially through infrastructure financing.
Besides, the Nigera Members’ Forum, themed “Exploring Opportunities in Volatile Market- Getting the best of Infrastructure Funding, Risk Management and Social Responsibility Investing” held in Lagos recently, unveiled a blueprint of CISI activities in Nigeria for the rest of the year.
Speaking on “Infrastructure Funding via Capital Market Instruments,’ the Acting Chief Executive Officer, Nigerian Exchange Limited, Mr Jude Chiemeka, explained that robust infrastructure was necessary to grow an economy and improve the quality of life. But Chiemeka, who was the Special Guest, noted that traditional funding sources like budgets and bank loans could not meet the growing demand for infrastructure investment.
“Nigeria’s infrastructure deficit, amounting to 30% of its Gross Domestic Product (GDP), falls short of the international benchmark of 70% set by the World Bank.
Capital market instruments offer a compelling alternative by tapping into private sector capital. These instruments, which can include stocks, bonds, and venture capital, enable businesses and organisations to thrive. They can be used to finance a variety of projects, from transportation and energy to water and sanitation.
“Investors are drawn to the potential for competitive returns on their investments. Many capital market instruments are specifically designed to support environmentally and socially responsible projects,” Chiemeka said.
The Assistant Director, Global Market Development, CISI, Mrs Helena Wilson, offered some tips on the activities for CISI Nigeria Group this year, saying, “There will be more options for renewal of membership, CISI shall continue to partner with more institutions, more education projects in the universities, including joint community development, increased media presence and exposure of members to new learning styles amongst others.”
Commenting on the Forum, the CISI Country Representative in Nigeria, Dr John Osuoha, urged the members to take advantage of numerous opportunities that it provides.
“We have received many positive feedback concerning this latest event from those who attended. It was organised free of charge for members, students and intending members. Membership of CISI opens you up to global opportunities in the Financial Services Industry. CISI keeps members up-to- date with happenings and developments in the Financial Market worldwide,” explained Osuoha.
The President, NAC, Mrs Ijeoma Onwu, in her welcome address, stated that members of CISI enjoyed numerous benefits, including free Continuing Professional Development and employment opportunities in over 75 countries after certification.
Other speakers were the CISI Global Market Development Executive, Enesha Mahbubani, who spoke on “Making the best use of CISI New Learning Platform,” Vice President, NAC, Mr Obinna Okafor, spoke extensively on risk management and there were brief remarks from some representatives of CISI Partners in Nigeria.
The United Kingdom-based global professional financial institute, has signed a Memorandum of Understanding (MoU) with many professional bodies in the country, for enhanced capacity building and access to global certification of their members.
The latest in the series was the MoU with Chartered Institute of Stockbrokers (CIS), signed in January this year.
Business
World Bank, Trade Ministry partner Shippers’ Council to tackle multiple-inspection border posts
By Seun Ibiyemi
The Ministry of Trade and Investment, alongside the World Bank and the Nigeria Shippers’ Council (NSC), have identified simplified trade processes and procedures at the seaports, across states and regional borders as imperative for economic growth.
Speaking recently when the Enhanced National Trade Facilitation Committee and representatives of the World Bank visited the NSC in Lagos, the Minister of Trade and Investment, Dr. Doris Udoka-Anite explained that the benefits of achieving harmonised, standardised and simplified trading processes and procedures are immense and cannot be overstated.
Udoka-Anite, who was represented by an Assistant Director in the Office of the Minister, Dr. Brenda Max-Nduagube, noted that trade facilitation has been a focal point of discussions at national, regional and international levels.
“This is ever more important to small and medium-scale enterprises where the NTFC helps create a more business-friendly environment for SMEs venturing into global markets. This translates to increased competitiveness, growth potential and a more level playfield,” the Minister stated.
She commended the World Bank for its steadfast support and collaboration, which have been instrumental in advancing Nigeria’s national trade facilitation goals while positioning her as a leading trade hub in the region.
She further commended the members of the Enhanced National Trade Facilitation Committee for tirelessly fostering collaboration and synergy across Ministries, Departments and Agencies (MDAs), the private sector and civil society, thereby paving the way for a more integrated and efficient trade facilitation framework.
She explained that the World Bank team was visiting to fully understand the daily operations, inspection processes and trade bottlenecks, and identify policy options to make trade seamless for the Nigerian government.
On their part, leader of the World Bank team, Aleksandar Stojanov, stated that, “We look at ways of supporting the government in terms of improving competitiveness and domestic value addition so that Nigeria can take full advantage of regional trade agreements such as AfCFTA (African Continental Free Trade Agreement), as well as the international agreements that they have.”
According to Aleksandar Stojanov, the World Bank team was on a fact-finding mission that would guide their dialogue on trade, reduce dwell time, and improve trade processes.
“Today, the World Bank has state-level trade operations, which has an inter-state trade indicator for seamless movement of goods across states in Nigeria and export promotion at the state level.
“There is one operation in the pipeline that will support trade facilitation, which has a linked indicator, that is on reducing inspections at the border and improving trade facilitation overall to the authorised economic operator system, which has been launched with the Nigeria Customs Service,” Aleksandar Stojanov stated.
On his part, the NSC Executive Secretary, Mr. Pius Akutah, noted that the Council is one of the major stakeholders in trade facilitation in Nigeria, and West Africa at large, as a member of the ECOWAS Trade Facilitation Committee, among others.
“We work with transport and cross-border infrastructures to reduce transport bottlenecks and facilitate trade, both in local and international markets.
“To consolidate this effort and that of the international agencies, the Nigerian Shippers’ Council has embarked on trade facilitation tools like the inland dry ports, and complaint centres across the country, in order to facilitate trade in the hinterlands and decongest the seaports, especially Apapa and Tin Can Island,” the NSC boss explained.
He disclosed that while on its mandatory activities, the NSC discovered that many traders along the border corridors perform their activities informally, with many small scale businesses carrying out their trades very well.
“We intend to do everything within our mandate to ensure that we formalise these activities. This has necessitated the Council’s collaboration with the Nigeria Customs Service and other stakeholders to establish Border Information Centres at the borders,” Barrister Pius Akutah added.
He assured the World Bank, Ministry of Trade and Investment and the National Trade Facilitation Committee of the NSC’s continued partnership to improve trade and other related activities.
By Seun Ibiyemi
The Managing Director of Nigerian Ports Authority (NPA), Mohammed Bello KoKo has received commendation from the Association of Nigeria Licensed Customs Agents (ANLCA) for the uncommon initiatives that cleared the decade-long traffic gridlock that had menaced the Apapa/Tin-Can Ports access roads and undermined the ease of doing business in Nigerian ports.
Leading the largest group of Customs Brokers on a working visit to the NPA headquarters recently, the National President of ANLCA, Mr. Emenike Nwokeji, in the company of ANLCA Board Chairman, Mr. Taiwo Mustapha, lauded Mr. Mohammed Bello-Koko for improving the ease of doing business at the ports with the clearance of the port access roads.
Responding, Mohammed Bello-Koko said, “Breaking the jinx of the agelong traffic gridlock that was causing huge revenue losses and reputational damage to our dear country Nigeria was a product of our relentless commitment to doing what is right by entering into open-minded collaborations with the Lagos State Government and relevant stakeholders.”
Reiterating the Authority’s commitment to enhancing ease of doing business and deepening Nigeria’s balance of trade through promotion of exports, Bello KoKo added, “We are committed to fulfilling the priorities as enunciated in the Presidential/Ministerial Performance Bond which we signed and to sustain the sanity on the Port access which has resulted in the unprecedented increase in export numbers.
“We have developed a Service Level Agreement (SLA) for cargo evacuation which we would be implementing with renewed vigour going forward to sustain the growth in exports in order to achieve the national trade surplus required to grow the domestic economy.”
Recall that the National Bureau of Statistics (NBS) in its foreign trade report for the first quarter of 2024 highlighted that Nigeria recorded a N6.5 trillion trade surplus between January and March of 2024. The NBS detailed that Nigeria’s exports totalled N19.1 trillion and total imports stood at N12.6 trillion — indicating a trade surplus of N6.5 trillion.
A trade surplus is an economic indicator of a positive trade balance in which the exports of a nation outweigh the country’s imports.
The recent inauguration of the Governing Board of the National Agency for Food and Drug Administration and Control (NAFDAC) marks a significant step in renewing Nigeria’s health sector.
NAFDAC is a cornerstone institution, essential for regulating the food and drugs that Nigerians consume, and it plays a vital role in ensuring the population’s health and safety.
This aligns with President Tinubu’s #RenewedHopeAgenda to save lives, reduce physical and financial pain, and promote health equity for all Nigerians.
The President’s health agenda is built on four foundational pillars under Nigeria’s Health Sector Renewal Investment Initiative #NHSRII.
The first pillar, governance, emphasises the need for strong regulatory frameworks for both products and professionals. NAFDAC’s role here is crucial, ensuring the integrity and safety of health commodities, which are foundational to the nation’s health system.
Improving population health outcomes is the 2nd pillar. For Nigeria’s primary healthcare systems and hospitals to function effectively, the quality of pharmaceuticals must be guaranteed.
NAFDAC’s efforts in preventing counterfeit and substandard drugs are essential in achieving better health outcomes for the populace.
The 3rd pillar focuses on unlocking the potential of the healthcare sector. A strong regulatory framework supports local production and ensures that quality products can compete both locally and internationally.
NAFDAC’s regulation of production and distribution channels is key to fostering a thriving healthcare industry, protecting investments in quality production, and preventing market disruption by substandard products.
Health security is the 4th pillar, emphasising NAFDAC’s role during crises, such as ensuring the safety and efficacy of vaccines and therapeutics. This function is critical for maintaining public trust and managing health emergencies effectively.
Inaugurating the Board, the Hon. CMHSW Muhammad Ali Pate said “the membership is composed of individuals with diverse backgrounds and experiences, reflecting a careful selection process aimed at fostering effective teamwork. This diversity is seen as a strength, providing varied perspectives and enhancing the council’s ability to address complex challenges.”
Minister Pate added, “The Board’s role is dual: to support and challenge the DG and the institution. This approach promotes growth and improvement, ensuring that NAFDAC continues to meet its mandate effectively. While NAFDAC has made significant progress, continuous improvement is essential.
“Recent reviews have identified areas for enhancement, and the DG, Prof Moji Adeyeye, has begun addressing these, focusing on structure, strategy, systems, financing, and culture.”
As the new Board embarks on its duties, there is a renewed sense of purpose and dedication to safeguarding the health of all Nigerians.
CHI Limited celebrates Children with fun, excitement
