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Nestle Reassures On Increasing Local Content Level

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Nestlé Nigeria Plc has reiterated its commitment to pursue an aggressive road map to increase its local content from current level of 80 per cent.
The company restated the commitment in a statement after its 2019 Suppliers’ Day event in Lagos, an annual meeting which brings together key suppliers of its raw materials, packaging materials, services and indirect services to share best practices.
It said an increased local content was expected to place the company at the forefront of supporting the growth of Small and Medium Enterprises (SMEs) in the country through its local sourcing, backward integration and supplier development initiatives.
Supply Chain Manager for Nestlé Nigeria, Mr Nestor Finalo in his presentation at the event said: “Responsible sourcing has always been at the core of Nestlé Nigeria’s operations.
“We are committed to long term partnerships with our suppliers as we sustain efforts towards increasing the percentage of raw and packaging materials sourced locally.’’
He said that quality remained non-negotiable, adding: “As a company, we prepare for the future by investing in new technologies and products, while maintaining our strong focus on quality and striving for zero impact of our operations on the environment.
“Local Sourcing is not only a smart business decision to ensure supply but also the right thing to do as it contributes to transforming small and medium scale businesses involved in Nestlé’s value chain either directly or indirectly.
“Raw materials currently sourced locally by Nestlé include maize, cassava, palm olein, sorghum, soya and salt.  The company also sources over 90 per cent of its packaging materials locally.
“The company is exploring more local sourcing opportunities which still exist for various spices, vegetables and high-quality cassava flour,’’ the statement quoted Finalo as saying.
Reports say that the event focused on the Global Food Safety Initiative (GFSI), ongoing measures for continuous improvement of suppliers’ performance and on consolidation of partnerships.
One of the facilitators, Mr Joseph Tanson, Country Procurement Manager, urged suppliers to take advantage of the new opportunities while adhering to the highest ethical standards and procedures in line with Nestlé’s responsible sourcing policies.
Participants at the event expressed their satisfaction, commending Nestlé for the continued collaboration with suppliers, which had provided opportunities for their development and in turn, the creation of job opportunities, a key touch point in the journey towards a more sustainable economic system for Nigeria.
Mr Sunday Bamikole, Quality Assurance Manager, Plantation Industries Ltd said: “The Suppliers Day hosted by Nestlé Nigeria was a fantastic event.
The participants noted that every day, Nestlé touches lives across its value chain in line with the company’s business principle of ensuring that it provides value for society while delivering value to its shareholders.
This business principle is called Creating Shared Value (CSV) and is embedded in the way Nestlé does business.
In Nigeria, the company is committed to improving livelihoods in the communities connected to its operations and to its value chain, from farm to fork.
Nestle Nigeria Plc began simple trading operations in Nigeria in 1961 and has today grown into a leading manufacturing and marketing company.
Nestle Nigeria is the biggest food company in West Africa. It employs around 2,300 people and has three world-class factories.
Nestle Nigeria manufactures and markets a range of high quality brands, including NESTLE PURE LIFE, GOLDEN MORN, MILO, MAGGI AND NESCAFE. (NAN)

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Bayelsa Begins EIA On 60MW Power Plant

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The Bayelsa Electricity Company Ltd, in collaboration with the Federal Ministry of Environment, on Friday, commenced the Environmental Impact Assessment (EIA) for the proposed 60-megawatt (MW) power plant.
The Tide’s source reports that the power plant project, led by the Bayelsa State Government, is in Elebele, on the outskirts of Yenagoa, the state capital.
The source also reports that the State Governor, Douye Diri, had announced plans to establish an independent power project to end the state’s reliance on the national grid and provide an uninterrupted power supply across Bayelsa.
The Director of Operations at the Bayelsa Electricity Company Ltd., Steve Bubagha Jnr., conducted the Minister of Environment, Balarabe Lawal, and his team around the project site.
Mr. Bubagha explained that the company planned to install a 60MW “plug and play” gas-fired turbine that would receive gas feed from the Oando gas manifold in Elebele.
He said the land area for the project is approximately 5.8 hectares, with 2.1 hectares currently being used.
“The Independent Power Plant is officially known as the ‘Yenagoa Power Project. This is a ‘Plug and Play’ Gas Turbine.
“What we mean by ‘plug and play’ is that the turbine is already set to be installed upon arrival from the manufacturers.
“We are only working on other components, so the turbine should be running in less than two years, or at most, in two years”, Bubagha explained.
Following the site visit, the environment minister, represented by Adimchinobi Okereke, emphasised that the purpose of the visit was to ensure the EIA process adhered to standard guidelines before granting final approval to the project.
He lauded the state government for initiating the project, noting that once completed, it would benefit Bayelsa and contribute to solving Nigeria’s power supply challenges.
Azibola Inegite, a professor and Dean of the Faculty of Science at Niger Delta University, and the EIA consultant for the project, assured that international best practices would be followed in conducting the EIA.
He emphasised that the EIA was essential for the successful execution of impactful land and environment-related projects.
On his part, the technical adviser on Print Media/Public Affairs to Governor Diri, Wisdom Ikuli, commended the Governor for his vision in executing the project.
He stated that the 60MW power plant would help reduce the state’s frequent power outages and boost business growth, thereby accelerating industrialisation.
A key part of the minister’s visit was the “Stakeholders Engagement Scoping Workshop for Environmental Impact Assessment of Proposed Gas Powered Plant and Gas Delivery Pipeline in Bayelsa State”.
The workshop brought together stakeholders from Elebele, whoch include the host community, and Kpansia, an impacted community in Yenagoa Local Government Area.

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Firm Unveils Solutions To Oil Logistics Challenges

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A firm, Fortune Global Shipping and Logistics Limited, said it has concluded plans to unveil an excellent and cost-effective logistics solution for oil and gas logistics, project cargo, customs clearance, consolidation, and construction, among others, in Lagos State.
Announcing this in a statement on Friday, the company said the initiative would be unveiled during the 2025 Sub-Saharan Africa International Petroleum Exhibition and Conference.
It stated that the event is billed to take place in Lagos this week.
SAIPEC is an annual global event which focuses on harnessing a sustainable African energy industry through partnerships.
Fortune Global explained that the exhibition promises to engage with other key industry stakeholders, decision-makers, and experts across Sub-Saharan Africa’s energy supply and value chain.
“We invite you to experience more and find out about Fortune Global’s latest innovations in oil and gas logistics. Connect with Fortune Global Shipping and Logistics Limited at the Exhibition Booth N21, Eko Convention Centre, in Lagos”, the statement stated.

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Nigeria, Still Africa’s Largest Economy – World Bank

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Nigeria remains the largest economy in Africa going by Gross Domestic Product (GDP), in spite of the challenges faced by yhe country’s private sector.
World Bank’s Country Director for Nigeria, Dr. Ndiame Diop, who confirmed this at the Country Private Sector Diagnostic (CPSD) and Stakeholder Engagement in Abuja, Friday, said while Nigeria receives far less Foreign Direct Investment (FDI) than its potential warrants, especially in comparison to countries like Indonesia and South Africa, it continues to hold its position as Africa’s biggest economy.
He said the CPSD report, set to be released in the coming weeks, will reveal the impact of private sector constraints on economic growth.
Diop noted that if targeted actions were taken to remove these obstacles, Nigeria’s economic potential would be significantly enhanced.
He explained that the current macroeconomic reforms have created a favourable environment for such changes.
He cited the country’s recent economic stabilization measures, particularly exchange rate market adjustments and improved access to foreign exchange, as critical steps that have already enhanced investment conditions.
The Country Director outlined four key sectors where strategic reforms could unlock massive investment and job creation.
He stayed that in the Information Communication Technology (ICT) sector, investment opportunities worth up to $4 billion could be realized, potentially creating more than 200,000 jobs.
In agribusiness, reforms could unlock $6 billion in investment and generate over 275,000 jobs.
The solar photovoltaic (PV) industry holds the potential for $8.5 billion in investment and more than 129,000 jobs, while the pharmaceutical sector could attract $1.6 billion and create more than 30,000 to 40,000 jobs.
For the ICT sector, he identified the high, unpredictable, and inconsistent right-of-way fees, levies, and informal charges, comprising 30 to 70 per cent of broadband rollout costs, as a major barrier.
According to him, addressing these regulatory inconsistencies would be a game-changer for broadband expansion.
He acknowledged that the National Economic Council has recognized this issue and that progress is being made through a World Bank-supported initiative.
He also noted challenges such as vandalism, limited financing for rural broadband expansion, and the need for competitive access to wholesale fiber.
Dr. Diop further noted that efforts are underway in collaboration with government agencies to resolve these issues, and the World Bank, the International Finance Corporation (IFC), and private investors are prepared to support broadband infrastructure development.
On solar power, Diop described Nigeria’s energy sector as difficult but noted that renewable energy access, particularly solar PV, has been a bright spot.
He explained that private sector investment in renewable energy has historically been hindered by high costs and unviable tariffs.
However, blended finance mechanisms supported by the World Bank and IFC have helped bridge this gap, making off-grid solutions more viable.
He noted the DES project, which aims to connect 17.5 million households and businesses to solar power, as evidence of growing private sector interest.
While the solar industry is expanding, he stressed that reforms to improve Nigeria’s grid electricity supply remain crucial for industrialization.
On her part, the Regional Director for Central Africa and Anglophone West Africa at the IFC, Dr. Dahlia Khalifa, stressed the importance of consistency in regulatory policies, particularly in customs duties and revenue agency fees.
She noted that unpredictability discourages private sector investment, as businesses rely on stable regulatory environments for strategic planning.

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