Business
Firms Resuscitation: FG, Global Steel Sign Agreement
The Federal Government and Global Steel have signed an agreement for the resuscitation of the Nigeria Iron Ore Mining Company (NIRONCO), Itakpe.
The signing of the agreement, which took at the State House, Abuja on Monday, is aimed at revamping the Ajaokuta Steel Company in Kogi state.
Dr Kayode Fayemi, the Minister of Solid Minerals signed on behalf of the Federal Government while Mr Pramod Mittal, Chairman of Global Steel, signed on behalf of the company.
Vice President Yemi Osinbajo, who presided over the event, urged the parties to stick to the terms of the agreement in order to achieve the objective of revamping the Itakpe and Ajaokuta companies within the agreed time.
“There are specific agreements that have been reached; there are specific conditions that have to be met and there are time lines which have been set in the agreements.
“I think it is very important that we keep to those timelines, and that we observe those agreements as faithfully as possible.
“There is no question at all that there might be situations where there might be slip offs of one kind or the other.
“But I hope that we might be able to accommodate each other in the spirit of the mediation and ensure that we keep the objective in sight.
“Which is, to make sure that this concession works and that eventually we are able to free up Ajaokuta for business as quickly as possible.’’
The vice president noted that the signing of the agreement was unique which informed the presence of the media and other stakeholders.
“We are reasonably familiar with the history of all of what we have experienced with Ajaokuta and the iron mining corporation as well.
“It is very clear that this is one of those terrible failures of just basically getting things done over the years.
“I think that somehow or the other we let the ball drop so many years ago and somehow, we couldn’t get this back on track.
“Unfortunately, it has cost us a lot; the fact that we had an Ajaokuta Steel for so long and we had the iron mining company for so long and yet produced absolutely nothing is by itself a tragedy of immense proportions,’’ he said.
Osinbajo, however, noted that it was a good thing that the country is now able to recover from all that and move towards getting things right.
He stated that everybody in Nigeria keeps talking about what the nation can do with steel, adding that it was “so obvious that steel is such an important requirement and we spent so much on it.
“This is possibly the first concrete step towards ensuring that all of our complaints are dealt with and that we are able to, not too long from now, produce our own steel.
“So that we can save ourselves some foreign exchange and create jobs and opportunities for local investments and local individuals who would be interested in working with us on steel.’’
The vice president said that parties should not only congratulate themselves for the feat but also hold themselves to account in the next few months, which according to him would be absolutely critical.
He thanked Global Steel for being a useful partner in getting things done.
Osinbajo expressed optimism that the present administration would work closely with Mittal to ensure that both the iron ore mining company and Ajaokuta Steel operated efficiently.
Fayemi had recalled that in 2008, the Umaru Yar’Adua administration revoked the Itakpe resuscitation contract that was concessioned to Global Steel by the Olusegun Obasanjo administration in 2005. The concessioning was to last 10 year.
He added that since the contract was revoked, both parties had been in arbitration and later went into mediation, which result is the current agreement signing.
The minister said the determination of the Muhammadu Buhari administration to diversify the economy ignited the effort to ensure that Itape and Ajokuta came alive again.
According to him, the agreement to return the Iron Ore Mining Company to Global Steel was reached in London in June to enable it to complete its concession and ensure that Ajaokuta reverts back to the federal government.
Fayemi said that in executing the agreement other areas such as the rail transportation and ports issues would be addressed by the Ministry of Transportation.
He said that the Iron Ore Company was the core supplier of raw materials for major steel companies in the country and that government had spent $3.3 billion to import steel products since.
He said there was enough iron ore deposit to sustain the local needs, especially the Ajaokuta and Delta steel company, Aladja, and thanked the Vice President for presiding over the execution agreement.
“It is our expectation that at the end of the review that is going to follow this execution we would have brought the Nigeria Iron Mining company back into full functioning.
“And also start the process of retaking the Ajaokuta plant and then putting it out to interested bidders who are already showing keen interest in its resuscitation,’’ he said.
He said the process would move the country from being a minerals nation to a mining nation and enable the country to process and add value to the mineral resources before exportation.
Mittal in a speech said that his company started operations in the country in 2004 with determination to produce steel for the country.
He said the process was long but it was important that the steel sector was developed fast to speed up other types of development in the country.
He said the company was poised to produce three million tons of steel in three years but added that for effectiveness the company would need rail, gas and power supplies.
Mr Howard Richardson, the mediator, said that the mediation gave the best opportunity for wisdom and common sense to prevail and to give the steel industry in the country the best of all possible starts in the future.
The Nigerian Shippers Council (NSC) says it has registered 160 Port stakeholders into its Regulated Port Service Provider and Users platform since the initiative began in 2023.
Executive Secretary, NSC, Mr Pius Akutah, made the disclosure on the sideline of a sensitisation programme by the commission for port operators in Lagos, with the theme, “Regulated Port Service Provider and Users”.
Represented by the Director, Consumer Affairs, Chief Cajetan Agu, Akutah emphasised the significance of the programme for stakeholders.
He said the sensitisation programme was the second edition after its commencement during the last quarter of 2023.
The Secretary said the 160 registered port operators consist of agencies, terminal operators, shipping companies, individual port users as well as service providers.
“We invited the ports stakeholders for enlightening them on the processes for online registration of Regulated Port Service Provider and Users.
“We have demonstrated to them how to register and how to make payment and we were able to present before them the various categories of the registration.
“The rate of payment is also in the registration. The payment of each group depends on the operation. A shipper pays N30,000, terminal operators and shipping companies pay N300,000, truckers also pay N30,000, while some pay N50,000 and N100,000.
“The Council was able to intimate them on the benefits, because port users benefit more as we help to interface on reducing port charges from time to time”, Akutah said.
He said that there was a need to continue to work with port operators to stop delays and eliminate high costs to make the port efficient.
Also speaking, the Deputy Director, Stakeholders, Service, NSC, Mr Celestine Akujobi, said “the sensitisation exercise was important for the council to enable us bring all the port stakeholders together”.
According to him, this is to avoid challenges during the implementation of the council’s responsibilities.
“By the time we introduce sanctions on defaulters, no operators will complain that he or she is not aware of the registration.
“I’m happy with the turnout of this sensitisation. This shows that the operators are well informed of the statutory friction of the council as the port regulator.
“The final implementation will commence as soon as we discover that all the operators have keyed into the portal.
“We are engaging other ports across the country and we’re hopeful that before the last quater of 2024, the council will implement sanctions on defaulting operators”, Akujobi said.
Earlier, Vice Chairman, National Association of Government Approved Freight Forwards (NAGAFF), Dr Ifeanyi Emoh, said port challenges were enormous, adding that they originated from some of the government agencies.
Emoh urged the council to look into regulating other government agencies, so that there could be a window through which they can collect port charges collectively instead of indiscriminately.
By: Chinedu Wosu
Chivita| Hollandia (CHI Limited) leading fruit juice and value-added dairy manufacturer in Nigeria has rewarded its long standing distributors at the recently held 2024 Distributor Conference. The event with the theme, “Break Boundaries Exceed Expectations” served as a platform to recognise and reward the exceptional contribution of the distributors and wholesalers who play a critical role in Chivita|Hollandia (CHI Limited) success and business goals for the year.
The Distributor Conference was held in two sessions. While the morning session featured keynote addresses, industry insights and brand immersion experience, the evening session was a cultural display of elegance and funfair that culminated in the award presentation and recognition of the contribution the trade partners made to the company in the 2023 year under review.
A key highlight of the event was the award ceremony which acknowledged outstanding trade partners in various regions across the country. The awards recognized commitment, dedication, and outstanding performance in areas of sales growth, brand promotion, and market expansion.
Eelco Weber, Managing Director, Chivita|Hollandia (CHI Limited), stated that the company’s success story is incomplete without the strong partnerships it has built with trade partners. “Today, we celebrate not only the achievements, but the collaborative spirit that has made our growth possible” he said.
Bola Arotiowa, Chief Commercial Officer, Chivita|Hollandia (CHI Limited), in his statement revealed that, the event which was first of its kind will continue to be an annual meeting to enable the company work more closely with its distributors, share insights and action points, help the trade partners familiarize themselves with the company’s goals and objectives for each year, and serve as a driver for mutual success.
“Our distributors are the backbone of Chivita|Hollandia (CHI Limited). Their relentless efforts in distributing our products, promoting our brands, and expanding our reach across the nation is truly commendable. As the bridge between us and our valued consumers, it is very important to reward their hard work and dedication for being an essential part of the Chivita|Hollandia (CHI Limited) family. Together, we will continue to deliver great products to our conusmers which in turn will deliver value to them”, Mr. Arotiowa added.
Speaking at the conference, HajiyaBilikisuSaida, Chief Executive Officer of Smabirm Nigeria Limited, who won the Outstanding Distributor of the Year in North 1 region, and got a reward of two million Naira worth of Chivita|Hollandia (CHI Limited) products expressed delight at the company’s recognition, and stated that the awards served as a way to inspire distributors to do more and put in more effort, which in turn would help both the distributors and the company to grow.
Other outstanding performance distributors of the year rewarded with a two million Naira worth of Chivita|Hollandia (CHI Limited) stock include, Sunny Chuks Limited for East 1 region, MRS FA & Sons Limited for East 2 region, Hussakas Ventures for North 2 region, Rookee 1388 Ventures for Lagos 1 region, Pik N Pil Ventures for Lagos 2 region, FaithJoe Event Management Limited for West 1 region, and Progress Family Nigeria Enterprise for West 2 region.
The annual Distributors Conference aims to strengthen the bond between Chivita|Hollandia (CHI Limited) and its trade partners. This collaborative approach fosters mutual growth and ensures the continued success of the brands in the Nigerian market.
A global leader in insurance and asset management, AXA Mansard, has supported three female-owned MSMEs with business grants totaling 1.4 million to boost their operations.
This, the company said, is part of its commitment to women and the Medium, Small, and Medium-scale Enterprise (MSME) sector in the country.
The three businesses were successful at the International Women’s Day Pitch Competition, organised in partnership with SME 100 Africa in Lagos.
According to the Head of Marketing, AXA Mansard, Olusesan Ogunyooye, the competition, which is aimed at supporting female entrepreneurs in Nigeria, “is another way AXA is demonstrating its commitment to the causes of women and stimulating the MSME sector in Nigeria”.
The business pitch competition received numerous entries from women across different sectors, but after a rigorous selection process, shortlisted participants were selected to participate in the competition.
Ogunyooye said “the programme provided a unique opportunity for women from various works and socio-economic classes to showcase their innovative ideas and solutions in sectors such as food, tech, fashion, and fragrance, creating an atmosphere filled with excitement, enthusiasm, and a strong sense of community”.
He stressed the importance of investing in women, saying it is not just the right thing to do, but also aligns with AXA’s purpose of acting for human progress.
He explained that AXA believes the future of women should not be at risk, hence investing in their economic empowerment is a crucial part
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