Business

RSG To Partner IEBS Matrixx On Cooperatives

Published

7 years ago

October 3, 2018

Rivers State Government has promised to partner with an International Entrepreneurs Business Summit (IEBS) to ensure that it benefits from governments laudable corporative programmes.
Speaking during the official launching of the programme, the Rivers State Commissioner for Commerce and industry, Dr Nancy Chidi-Nwankwo stated that the Rivers State Government was interested in the cooperative, as it was a very important sector in the economy of the state.
The Commissioner who was represented by the Director, Cooperative, Mr George Nwanchukwu remarked that the ministry was happy with the vision and mission of IEBS since its inception in 2015, adding that they are one of the best corporative in the state.
Nwanchukwu stated further that a good cooperative such as IEBS Matrixx, would create job opportunities for the teeming youths in the state and would help them to live independently and become employers of labour.
“As long as the IEBS Matrix corporative and Dr Larry Ajiola was concerned, I am also concerned too, because Dr Larry registered his corporative with the vision of creating wealth and empowering the people through his corporal corporative and as a government this is a very important sector of the economy which is the reason why government was interested in his vision.”
He promised that the cooperative would always benefit from whatever comes out of the ministry’s office, adding that in whatever form that the government would come in to assist them, it would do when the need arises.
Speaking also, the Chairman IEBS Matrixx Corporative Investment and Credit Society Limited, Dr Larry-Goodwill Ajiola stated that this was the first time in the history of Rivers state that corporate IEBS corporative was coming in Rivers State, adding that out of the 53,000 corporative registered in Rivers state and IEBS having this registration number 31,894, many corporative that exist in the state have not done well as they failed to understand what corporative was all about.
“We are setting up corporate corporative that is going to get businesses from multinationals, and government would seek IEBS Matrixx corporative for advice on how to run a successful corporative in Rivers State, Ajiola stated.
Highlights of the event was the issuing of certificates of membership to over 40 IEBS Matrix Corporative members as well as giving of certificates of office to some members which stands as a symbol to remind them that they have an obligation to serve the general public.
He added that what was being witnessed today was as a result of hard work of more than 10yers’ dream and expressed gladness that everyone was alive to witness the event happening today.
“We want to be the benchmark in Rivers, Nigeria and the world at large and so it was important for you to know that the day you join our corporative is the day you start benefitting.”
Earlier in his opening remark, the chairman of the occasion, Prof Lawyer Obara, reiterated the need for corporative members to know how to manage risk, stating that risk was part of business ventures.
Obara called for determination and passionate commitment on the part of the corporative, stating that there was a great need to create risk premium factor which help businesses to succeed.
He commended the efforts of Dr Larry-Goodwill Ajiola and his partners for the efforts of drawing the attention of Federal Government to the Rivers State, adding that the benefits cannot be over emphasized.

Lilian Peters & Susan Serekara-Nwikhana

Transport

Nigeria Rates 7th For Visa Application To France —–Schengen Visa

Published

5 days ago

January 28, 2026

The Tide

Nigeria was the 7th country in 2024, which filed the most schenghen visa to France, with a total of 111,201 of schenghen visa applications made in 2025, out of which 55,833, about 50.2 percent submitted to France

Although 2025 data is unavailable, these figures from Schengen Visa Info implies that France is not merely a preferred destination, but has been a dominant access point for Nigerian short-stay travel into Europe.

France itself has received more than three million Schengen visa applications, making it the most sought-after Schengen destination globally and a leading gateway for long-haul and third-country travellers. It was the top destination for applicants from 51 countries that same year, including many without visa-exemption arrangements with the Schengen Zone, and the sole destination for applicants from seven countries.

Alison Reed, a senior analyst at the European Migration Observatory said, “France’s administrative reach shapes applicant strategy, but it also concentrates risk. If processing times lengthen or documentation standards tighten in Paris, the effects ripple quickly back to capitals such as Abuja.”

The figures underline that this pattern is not unique to Nigeria. In neighbouring West and Central African states such as Gabon, Benin, Togo and Madagascar, more than 90 per cent of Schengen visas were sought via French authorities in 2024, with Chad, Djibouti, the Central African Republic and Comoros submitting applications exclusively to France.

“France acts as the central enumeration point for many African and Asian applicants,” said Manish Khandelwal, founder of Travelobiz.com, which reported the consolidated statistics. “Historical ties, language networks and established diaspora communities all play into that concentration. But volume inevitably invites scrutiny, and that affects refusal rates and processing rigour.”

That scrutiny is visible in the rejection statistics. Of the more than three million French applications in 2024, approximately 481,139 were denied, a rejection rate of about 15.7 per cent. While this rate is lower than in some smaller Schengen states, the sheer volume of applications means France contributes significantly to the total number of refusals within the zone.

For Nigerian applicants and policymakers, one implication is the need to broaden engagement with other Schengen consular hubs. “Over-reliance on a single consulate creates what one might call administrative bottleneck effects,” said Jean-Luc Martin, a professor and expert in European integration and mobility law at Leiden University. “If applicants from Nigeria default to France without exploring legitimate alternatives in countries like Spain, Germany or the Netherlands, they expose themselves to systemic risk

Martin added that the broader context of Schengen visa policy is evolving, with the European Commission’s preparing roll-out of the European Travel Information and Authorisation System (ETIAS) aimed at harmonising pre-travel screening across member states.

For Nigerians seeking leisure, business or educational travel to Europe, these trends suggest that strategic planning and consular diversification could become as important as the completeness of documentation and financial proof. Governments and travel consultancies in Abuja, Lagos and beyond are already advising clients to explore alternative consular pathways and to prepare for more rigorous screening criteria across all Schengen states

By: Enoch Epelle

Transport

West Zone Aviation: Adibade Olaleye Sets For NANTA President

Published

5 days ago

January 28, 2026

The Tide

Prince Abiodun Ajibade Olaleye, a former Welfare Officer and Public Relations Officer of the National Association of Nigeria Travel Agencies (NANTA), has formally declared his intention to contest for the position of Vice President of NANTA Western Zone, ahead of the zonal elections scheduled for Thursday, February 26, 2026.

In a New Year message to members of the association, Olaleye expressed optimism about the prospects of the travel and tourism industry in 2026, despite the economic headwinds and migration policy challenges that affected operations in the previous year.

He acknowledged that reduced patronage and declining trade volumes had placed significant financial pressure on many travel agencies, but urged members to remain resilient and forward-looking.

According to him, the challenges confronting the industry should be seen as opportunities for growth, innovation and institutional strengthening.

He stressed the need for unity and collective action among members of the association, noting that collaboration remains critical to navigating the evolving global travel environment.

Unveiling his vision for the NANTA Western Zone, Olaleye said his aspiration is to consolidate on the achievements of past leaders while expanding the zone’s relevance, influence and impact “beyond imagination.” He promised a leadership focused on commanding excellence, improved member welfare and stronger stakeholder engagement.

Drawing from his experience in previous executive roles within NANTA, the vice-presidential aspirant said he is well-positioned to make meaningful contributions to the association, particularly in areas of member support, public engagement and institutional growth.

“I believe that together, we can take our association to greater heights and build a stronger, more prosperous NANTA Western Zone that benefits all members,” he said, while appealing to delegates for their support and votes.

Olaleye concluded by offering prayers for good health, peace and prosperity for members in 2026, expressing confidence that the new year would usher in renewed opportunities for the travel industry and the association at large.

By: Enoch Epelle

Business

Sugar Tax ‘ll Threaten Manufacturing Sector, Says CPPE

Published

5 days ago

January 28, 2026

The Tide

The Centre for the Promotion of Private Enterprise (CPPE) has warned that renewed calls for a sugar tax on non-alcoholic beverages could hurt Nigeria’s manufacturing sector, threaten jobs and slow the country’s fragile economic recovery.

In a statement, the Chief Executive Officer, CPPE, Muda Yusuf, said while public health concerns such as diabetes and cardiovascular diseases deserve attention, imposing an additional sugar-specific tax was economically risky and poorly suited to Nigeria’s current realities of high inflation, weak consumer purchasing power and rising production costs.

Yusuf who insisted that the food and beverage sector remains the backbone of Nigeria’s manufacturing industry, said the industry supports millions of livelihoods across farming, processing, packaging, logistics, wholesale and retail trade, and hospitality.

He remarked that any policy that weakens this ecosystem could have far-reaching consequences, including job losses, lower household incomes and reduced investment.

Yusuf argued that proposals for sugar taxation in Nigeria are often influenced by global policy templates that do not adequately reflect local conditions.

According to him, manufacturers in the non-alcoholic beverage segment are already facing heavy fiscal and cost pressures.

“The proposition of a sugar-specific tax is misplaced, economically risky, and weakly supported by empirical evidence, especially when viewed against Nigeria’s prevailing structural and macroeconomic realities.

“Existing obligations include company income tax, value-added tax, excise duties, levies on profits and imports, and multiple state and local government charges. These are compounded by high energy costs, exchange-rate volatility, elevated interest rates and expensive logistics,” he said.

The CPPE boss noted that retail prices of many non-alcoholic beverages have risen by about 50 per cent over the past two years, even without the introduction of new taxes, further squeezing consumers.

Yusuf further expressed reservation on the effectiveness of sugar taxes in addressing the root causes of non-communicable diseases in Nigeria.

By: Lady Godknows Ogbulu