₦airaland Forum

With ongoing political and policy
uncertainty, Nigeria is set to
overtake South Africa as the
biggest market in Africa by
2022.
According to the 2017 African
Business Outlook Survey, the top
three markets were the Sub-
Saharan countries with the three
largest economies, South Africa,
Nigeria and Kenya, with 91 per
cent of respondents having
business based there.
While these markets were
expected to remain the top three
over the next six years,
respondents expected Nigeria to
emerge as their single most
important market by 2022.
The survey compiled by The
Economist Corporate Network
(ECN) is based on responses
from 150 CEOs who have Africa-
based commercial operations.
The report looks at current
sentiment in the region and
future prospects. ECN Africa
director Herman Warren, who
authored the report, said,
“Nigeria led in 2015 but the
recession in 2016 knocked it.
Nigeria is expected to make a
big come-back and grow faster
than South Africa.”
The survey shows African
governments are trying to
attract more investment and be
less reliant on low value-added
commodity exports by
diversifying their economies.
The slowdown in commodity
prices affected the region’s rate
of economic growth: 2016 was
the first year in more than a
decade that Africa’s economic
growth (1.4 per cent) did not
exceed the rate of global GDP
growth (2.2 per cent).
In spite of slower economic
growth, compared with the rest
of the world, 63 per cent of
respondents indicated that their
firms achieved similar or higher
margins from Africa-based
operations in 2016, with East
Africabased operations singled
out as the most profitable.
Things are looking up in 2017
with respondents expecting
their firms’ profit margins to
improve across the board.
Warren said some of the biggest
trends to emerge were
challenges businesses faced.
Despite the prospects for
growth, operating in the region
still poses major obstacles.
Respondents cited regulatory
issues, macro-economics,
currencies and a skills deficit as
the biggest concerns. “Talent
featured as a major challenge.
The feeling is that we need to
create a talent pool by
developing curriculums to create
a skill set,” the report notes.
The report also outlines specific
challenges for business in SA.
While SA is expected to grow
slightly faster in 2017, Warren
says the overall pace of
expansion remains below
potential. “Concerns around SA
were raised. Political uncertainty,
labour rigidity and ambiguous
policy played a huge factor and
have contributed to the
dampened economic outlook.”
In the report, Warren says,
“South Africa is likely to remain a
key market for their firms for at
least the next five years. This
may reflect SA’s importance for
many companies as a
springboard into the rest of the
region.”

Colombia’s security forces say
they are searching for hundreds
of missing people after heavy
mudslides left at least 254 dead.
About 1,100 soldiers and police
are involved in the rescue effort.
Heavy rain flooded the city of
Mocoa in the country’s south-
west with mud and rocks,
burying whole neighbourhoods
and forcing residents to flee
their homes.
An army statement said there
were at least 400 injured and
200 still missing in the capital of
Putumayo province.
Colombian Red Cross volunteers
in the area also put the death toll
at more than 200.
The aid group said it was
working to help family members
contact each other, and that the
operation was continuing into
the night.
Video footage from the city
showed residents crying over a
list of missing children, along
with their ages, pinned to a
family welfare centre.
“We have lost a baby, who has
gone missing, and the rest is as
you can see,” one resident told
reporters. “A little baby, we can’t
find him anywhere.”
President Juan Manuel Santos
declared a state of emergency in
the region and flew in to
oversee the rescue effort.
“We will do everything possible
to help,” he said. “It breaks my
heart.”
The Colombian Air Force is
bringing equipment, water and
medicine to the area as the
search operation continues.
Photos posted to social media by
the air force showed some
patients being evacuated by air.
“Our heroes will remain in the
tragedy zone until the
emergency is over,” the army’s
statement said.
Colombia’s director of the
National Disaster Risk
Management Unit told the AFP
news agency that a third of the
region’s expected monthly rain
fell during one night.
The unusually heavy rain caused
the rivers to burst their banks.
‘The river has got us, help us
please’
“It was torrential rainstorm, it
got really strong,” local resident
Mario Usale, 42, told Reuters.
He was searching for his father-
in-law, the news agency said.
“My mother-in-law was also
missing, but we found her alive
2km (1.25 miles) away. She has
head injuries, but she was
conscious,” he added.
The mayor of Mocoa, Jose
Antonio Castro, told local media
that the city was “totally
isolated”, without electricity and
water.
His own house had also been
destroyed in the flood, with mud
reaching as high as his roof.
Landslides have struck the
region several times in recent
months, reports the BBC.
In November, nine people died
in the town of El Tambo, about
140km (87 miles) from Mocoa,
during a landslide which
followed heavy rain.
Less than a month before that,
another landslide killed several
people near Medellin, almost
500km (310 miles) to the north.
And in neighbouring Peru, more
than 90 people have died since
the start of the year because of
unusually heavy rainfall, which
also caused landslides and flash
floods.

Only taxpayers with Federal
Inland Revenue Service (FIRS)
issued Tax Identification
Number (TIN) will be eligible to
participate in the new auction of
seized items by Nigeria Customs
Service (NCS) which will soon
open online. This is part of the
guidelines contained in a new e-
auction portal to be deployed for
disposing of seizures that have
undergone the process of court
condemnation.
The portal, www.trade. gov.ng
requires applicants to input
recent passport photo with a
payment of non refundable N1,
000 administrative fees. The
new e- auction portal for the
sales of seized items at Customs
Commands across Nigeria is
expected to reduce congestion
in the various government
warehouses and increase
revenue from the sales.
Comptroller General of Customs,
Col. Hameed Ibrahim Ali (rtd),
introduced the process as a way
of enhancing transparency,
reduce human contacts and
ensure that only the highest
bidders for any auctioned item
takes it.
Aside TIN by prospective
bidders, other terms and
conditions include exclusion of
customs officers and their
families from participating in the
bidding process either directly of
by proxy.
The guidelines also indicate that
auctioned items cannot be
replaced or funds paid refunded
to bidders Successful bidders are
expected to make payments
within five working days or
forfeit the item to the second
highest bidder.
Successful bidders will be given
a period 14 days from the date
of payment to remove the item
they paid for or forfeit it at the
expiration of the period. Any
auctioned item not removed
from the warehouse within 14
days from the date of payment
shall revert to its pre-bidding
status which makes such item
open for auction again.
Winners in the auction process
are also expected to pay 25 per
cent of the auction amount to
the Terminal Operator with
another 25 per cent of the
auction amount to the shipping
line Operator
Meanwhile, owners of seized
item are excluded from bidding
for such items but may however
participate in the bidding of
other items while owners of
overtime items with evidence of
payment of duty and other
charges have priority over a
successful bidder of the item
provided the item has not been
exited out of the customs
control.
Interested persons will be
expected to access what is put
up for sale through NCS trade
portal. Aside being transparent,
the new method will also
increase the amount of revenue
government makes from
auctions as bidding will be
competitive and devoid of bias
or favouritism.
Hitherto, the service had done
auctions through issuance of
documents to beneficiaries with
which such beneficiaries
approached the warehouses
before making payments to
designated banks. This method
was viewed as not being
transparent as beneficiaries of
the auctions were believed to
have been selected through a
non competitive process.
This new auction policy is
coming 19 months after
customs auctions were
suspended following the
voluntary retirement of the
former Controller General of
Customs, Dikko Inde Abdullahi.
There have been media reports
that seized goods amounting to
billions of naira that have been
condemned through court
processes are lying in the
warehouses. Confirming the
development, the National Public
Relations Officer, NCS, Joseph
Attah said the Comptroller
General took time to entrench
the new method that requires
deploying of ICT, avoiding
human contact and influences.
Attah added that the new system
is undergoing a test run for
applicant acceptability before it
will be open to the public for
access and transactions.
Billions of naira is expected to be
generated from the sales which
includes cars, trucks, tankers,
leather and other items seized
from smugglers who ostensibly
wanted to evade duty payment.
President Muhammadu Buhari
had approved the distribution of
perishable items like rice, soap,
clothes, vegetable oil etc to
internally displaced persons (IDP)

The National Leader of the All Progressives Congress (APC), Asiwaju Bola Tinubu, yesterday assured President Muhammadu Buhari of Yoruba support, saying South- West support for the President and APC government is unshaken.

Speaking at the South-West zonal meeting of National Committee of Buhari Support Groups (NCBSG) in Lagos, Tinubu who was represented by the APC National Vice Chairman (South-West), Chief Pius Akinyelure; said Buhari’s government will not relent in its effort to ensure turn around of Nigeria’s economy.

“South-West support for Buhari is unshaken despite the various challenges in the country, which we believe the present government is addressing. There is no doubt that there is no party in Nigeria that can surpass APC’s achievements in office.

“We are doing the best we can with the little resources we have to move the nation forward. We need people’s support to turn things around in the country,” he said. In his response, President Buhari, who was represented by Senator Ajayi Boroffice, charged Nigerians toward positive change in the country, adding that the change message must be carried to all the nooks and crannies of Nigeria.

Also speaking, Senator Adesoji Akande said he is fully in support of the Buhari administration, adding that the incumbent government has done a lot to address some of the problems facing the country and implored Nigerians to continue to support the APC administration.

In a related development, the leadership of the APC in Edo State has ratified the suspension of some key leaders of the party in Uhunmwode Local Government Area (LGA) of the state.

Among those whose suspension were lifted by the state executive include former Minority Whip of the House of Representatives, Mr. Samson Osagie, former chairman of the Local Government, Roland Alari, Josef Omorotionwa and 27 others. The party had slammed the suspension on the members for anti-party activities.

The suspension was ratified in a letter signed by the state Secretary of the party, Chief Osaro Idah. The party leaders were alleged to have worked against their party in the September 28, 2016 governorship election.

Kdon2:
When saraki ruled kwara others said kwarans are fools,now he rules nigeria are nigerians fools? The man too much abeg. Sai ssraki oloye!

The fee agreed with Chelsea
surpasses the amount paid
for Pogba in 2016, and the
Nigeria international will
reunite with former boss Jose
Mourinho


Manchester United have
agreed a world record deal to
sign Victor Moses for €90
million on 1st April, Goal
understands.
The Nigeria international has
been in fine form this season
for Antonio Conte’s rampant
Chelsea side despite playing in
an unfamiliar defensive role.
According to Manchester
United representative , the Premier League club
met with their Chelsea
counterparts earlier on Friday
to discuss a deal to bring
Moses to Old Trafford.
It is now understood that
United have settled on a fee of
€90m for Moses, which
eclipses the previous record
set when they paid €89m for
Paul Pogba in 2016.
He will sign a five-year
contract for the Red Devils on
the first of April.
In a statement, Chelsea
chairman Bruce Buck
admitted the offer was too
good to refuse.
"We cannot turn down a
transfer of this magnitude
because, generally speaking, it
is the biggest in Chelsea’
history," said Buck.
"We have been very happy to
have Victor here but it is part
of our strategy, as a club and
a company, to develop players
to a level where they get so
attractive that the biggest
clubs will buy them for large
sums of money."
The winger is said to be ready
to accept a €14m annual
salary at Old Trafford, which
would almost outshine the
wages he is currently earning
at Chelsea.
When the player joins
Manchester United, he will link
up once more with the Red
Devils' boss Jose Mourinho,
who is expected to offer the
Nigerian to fellow Premier
League clubs on a loan deal so
he can prove his worth to his
manager.


Happy April 1st!

The federal government yesterday the 31st of March through his spokeperson announces that A bag of rice will now be sold for #12,000. This is a new step to alleivate the sufferings of the masses.


I wanted to believe it, but I remember that today is April fools day.. Sorry for getting ur hopes up.. Rice no fit come down.

Happy New Month.