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May & Baker eyes Ghana, Senegal to boost market share

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May & Baker eyes Ghana, Senegal to boost market share

Determined to increase market share, May & Baker Plc Nigeria Plc is perfecting plans to establish its footprint in select sub-Saharan African markets in 2022.

The Managing Director/ Chief Executive Officer of the company, Mr Patrick Ajah, said this at the 2021 media luncheon on Monday in Lagos.

Ajah said that the company would start with West African countries to enhance its revenue and market share.

“A lot could have been done by now if not for the COVID-19; you find out that travelling became almost impossible, the engagement we started we couldn’t continue.

“But currently, we are discussing already with companies in Ghana, trying to make inroad to Ghana and some other English-speaking West African countries.

“We are also speaking to some companies in Senegal group; there are some companies in Senegal that we are speaking to.

“I’m sure we are going to start from West Africa, a bit of the French and more of the English-speaking, and Ghana is one of them.

“What we have decided to do is to pick a few companies that we can partner with so that issues of registration do not arise,” Ajah said.

He said that the company would aggressively pursue dominance of the local pharma market through intensified sales, marketing and distribution efforts of its key brands.

Ajah said that the company would increase its product portfolio by introducing newer and innovative brands.

According to him, May & Baker will continue to drive improved Pharmacentre capacity utilisation and cost optimisation by aggressively pursuing contract manufacturing and tender business among others.

“By the end of this year, we would have crossed N10 billion in revenue for the first time and possibly achieved a profit before tax higher than we have done in recent times.

“Our business plan for 2022 also points toward that vision, bringing to bear some of the initiatives that will lay a foundation for the achievement of that vision,” Ajah added.

On the WHO prequalification programme, he said the company’s Pharmacentre in Ota was certified for WHO Good Manufacturing Practises (GMP) in 2014.

“Through the years, we have sustained the WHO GMP certification and are currently in the last stages of the recertification process, which has been delayed by the global pandemic.

“We have also received our certification of the ISO 9001:2015 and are currently in the last stages of the NAFDAC GMP audit and validation,” he said.

On return on investment for shareholders, Ajah assured them that the company would continue to ensure enhanced return on their investments.

“The results show that we are growing and our profit will be better than last year; our revenue is going to be better than last year.

“I already know that shareholders are going to be happy because we promised to cross N10 billion revenue and we have done that,” Ajah said.

 

He also announced that the company had completed its state of the art herbal/nutraceuticals products facility within its Pharmacentre.

Ajah said the facility would significantly increase the firm’s capacity in the manufacturing and commercialisation of its herbal medicine for the management of sickle cell anaemia.

In addition, he said the herbal product facility would boost the company’s collaboration with other Nigeria research institutes and professionals in the area of product development.

He said the company’s growth strategies showed commendable resilience and continued to gain traction.

According to him, these are pointers to its general operating efficiency and an indication that its strategies are in the right direction.

He noted that the commencement of operations of its world-class manufacturing company in Ota, Ogun State would open up a new vista of growth for the group.

According to him, despite the macroeconomic challenges, the company’s total revenue grew from N6.4 billion as at September 2020 to N8.1 billion during the same period in 2021, representing 25 per cent increase.

He said that profit before tax also rose to N1.3 billion from N1 billion achieved in the corresponding period in 2020.

 

Economy

Mines: FG averts Crude oil mistakes, bans Export of Raw Gold, others

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Mines: FG averts Crude oil mistakes, bans Export of Raw Gold, others

The Federal Government through a recently approved policy has banned the export of raw gold, gemstones and other mineral deposits.

The Minister of Mines and Steel Development, Mr. Olamilekun Adegbite, said this when he was being interviewed in a programme in Abuja.

He said the policy known as the “Down Stream Mineral Policy” was approved to avert the mistakes made in the oil and gas sector.

He said the enabling environment had been created for stakeholders in the mines and steel sector to add value to mineral deposits before exporting.

He said, “if you mine and you cannot process it yourself, you can sell it off to processors in Nigeria.

“These processors would either buy it off you totally or process and resell or they can process and return it to you.

“So that is the policy in Nigeria now because we do not want to lose jobs or wealth to other countries.”

 Adegbite said that when he came into office in 2019, one of the things he realised was that the mining sector was beginning to make the same mistake made in the oil and gas sector.

 `” You know what we do in the oil and gas sector.

“We export crude oil and import petroleum into the country by that we export all our jobs out.

 “So I said we cannot make the same mistake with mining so I started very early in 2019 to develop a policy called “Down Stream Mineral Policy, ”he said.

He said the approval of the policy by the Federal Executive Council was a milestone for the sector, saying it would go a long way in repositioning the sector.

While citing the numerous benefits of a mineral deposit called kaolin, the minister said the deposit, which abounds in Bauchi State was being used by the pharmaceutical industry.

He said, “people in the pharmaceutical, plastic, cosmetics and paint industry use kaolin”.

Adegbite said as a fallout of the policy, the government had set up demonstration policy centres in Bauchi and other places.

According to him, the plant in Bauchi cannot meet local demand but a demonstration that it is possible.

He called on foreign and local investors who do not want to invest in mining to invest in processing.

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Economy

Auditors Uncover Massive Payroll Fraud in PAP; Individual Receiving 33 Persons’ Stipends– Committee.

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Auditors Uncover Massive Payroll Fraud in PAP; Individual Receiving 33 Persons' Stipends– Committee.

The Strategic Communication Committee (SCC) of the Presidential Amnesty Programme (PAP) on Sunday stated that external and internal auditors recently uncovered a massive payroll fraud in PAP.

The SCC Chairman, an ex-agitator, Mr Nature Kieghe, said at a news conference in Yenagoa that the discovery showed an individual was receiving stipends of 33 persons through fraudulent means.

He said about 513 persons were linked to multiple payments, insisting that the new management of PAP was poised to reposition the scheme for optimum performance.

Kieghe said following the development, the Interim Administrator, Maj.-Gen. Barry Ndiomu (retd), immediately initiated verification of all beneficiaries of the programme as part of the ongoing investigation.

He explained that the audit and efforts of Ndiomu to clean the payroll was the reason some beneficiaries of the programme had yet to receive their monthly stipends, adding that all affected and genuine outstanding stipends would be paid after verifications.

Describing Ndiomu’s efforts as proactive, Keighe said upon assumption of office, the amnesty boss renegotiated all existing contracts with vendors and in the process saved N1.5bn for PAP.

He said: “Ndiomu initiated internal and external audits of PAP’s database. The auditors uncovered monumental fraud, especially in the payment of stipends where an individual is receiving stipends meant for 33 persons through fraudulent means. 

“The proactive interim administrator has ordered immediate verification of all delegates to be carried out next week. Delegates are to be rest assured that whoever is verified will be paid immediately. 

“Upon assumption of office, Gen. Ndiomu initiated plans to renegotiate the existing contracts with vendors. In the process, he has been able to save over N1.5bn.”

Keghie said Ndiomu had concluded plans to set up cooperatives to be managed by ex-agitators and supervised by consultants and experts in grant management.

“The ex-agitators will be given grants of over N500m and revolving loans. They are to take responsibility for the success of the cooperatives. International donor agencies will be involved in providing grants and aid. He has opened channels of discussions with the foreign loans,” he said.

He noted that five months after his appointment, Ndiomu had replaced the Train, Employ and Mentor (TEM) model with the Train, Empower and Exit (TEE) to allow empowered beneficiaries to exit the programme.

While observing that Ndiomu had shown more commitment, patriotism, and transparency in the management of PAP, Keighe said the PAP boss had also indicated interest to revive the vocational training centres for ex-agitators.

He said: “Ndiomu has concluded arrangements to complete the construction of the four vocational training centres located in Bayelsa, Rivers, Delta and Ondo states. The centres will be fully equipped with state-of-the-art equipment.

“Ndiomu is committed to the idea of transforming the lives of the ex-agitators through innovative and structured training schemes.”

He said it was imperative to inform members of the public that Ndiomu had not delisted anybody but working round the clock to sanitise the PAP register for the good of the ex-agitators and the Niger Delta region.

He called on aggrieved ex-agitators to suspend all their planned actions against the PAP management and support the efforts of Ndiomu to sanitise the programme.

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Economy

Editor’s Pick: No NIN, No train, as Abuja-Kaduna Rail service starts in 6 days

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Editor's Pick: No NIN, No train, as Abuja-Kaduna Rail service starts in 6 days

…Customers to provide phone numbers, National identification Numbers before buying tickets; Sambo travels the tracks to assure on Safety ***

The Federal Government says train services between the Abuja and Kaduna route will resume within seven days from Nov. 27. Customers must however provide phone and National Identification numbers before buying tickets.

The Minister of Transportation Mua’zu Sambo disclosed this on Sunday while inspecting the test running of the train route.

The Minister said that this was to enable passengers to get used to the new requirements for enjoying the train service.

He said: ”The issue of whether the train will start tomorrow or not, we have not said the train services will start tomorrow.

”I want to be very categorical about that. Now, we have introduced a new system before you buy a ticket.

”Your purchase of a ticket requires you to provide a phone number and a national identification number in order to profile because that is the beginning of the security checks.

”So, at any point in time when a train moves from one station to another, we know who and who is on board.

”If you don’t have a NIN you are not going to board our train. It is as simple as that.

”If you are a minor, an adult will pay for you and will register for you and an adult can only register for not more than four minors.”

Sambo added that: ”Now, we want to give sufficient time for the Nigerian public to listen to these and assimilate this new system, because if we start tomorrow, a lot of people will be disgruntled.

”Definitely between three, four, five days, certainly not more than a week.”

He assured Nigerians that 90 percent arrangements had been completed for the smooth commencement of the services.

Sambo added that the remaining 10 percent measures would be achieved in a couple of days for a smooth commencement.

”I think we are 90 percent ready as far as what we are set out to do is concerned.

”The remaining 10 percent I am sure would be achieved in the next couple of days for full resumption of train services.

”Certain concrete measures that are feasible include ticketing. Security starts from ticketing so now you don’t buy a ticket unless you have a valid phone number and you have a NIN.

”And if you are a foreigner you also have a means of identification you can use which is produced by the National Identity Management Commission.

”Having secured your ticket, you will not get access to the lounge until the machine reads the barcode in your receipt.

”Your details will show and your complete profile will show on the screen. Only then will you be allowed to go into the lounge. This is what we call customer profiling,” Sambo said.

According to the minister, there will be an increased number of security personnel some of which may not be wearing uniforms in order to guarantee the safety of passengers.

He said: ”The other thing is that for every journey the train is monitored every second and the train driver can see up to a certain distance.

”If there are any threats on the track, that would enable him march the break before getting to the perceived threat.”

Sambo explained that there would be a reduced number of trips on the route and as the traveling population picked, the number of trips would increase.

”But we will certainly not travel at night,” he said.

He further said that some other sensitive equipment that would not be disclosed had also been put in place to ensure the safety of life and property.

On fares, he said discussions were in place and the fares could be increased.

”My assurance to Nigerians is that even I will be using the train and other of my counterparts who have homes in Kaduna.

” In fact, from next week they will start using this train so I am giving Nigerians full assurance that a human being can give that this train is safe for them to use.

”There is absolutely nothing to fear. We have learnt from what has happened and life is about learning lessons and adopting measures with the lessons.

”As a responsible government, we have seen those lessons and we have devised appropriate measures to counter it.

”Like I always say that I was not going to allow this train to resume until everybody in captivity was released and to the glory of God I have achieved that.”

The train services along the corridor were halted due to terrorist attack on March 28 which led to loss of lives and kidnap of some passengers.

In the meantime, the Minister of Transportation, Mu’azu Sambo, has expressed satisfaction over the level of security measures put in place along the Abuja- Kaduna train route, ahead of the resumption of service after being shut down for eight months following attack by terrorists.

The Minister indicated this on Sunday in Kaduna during an inspection of security and other measures put in place to forestall subsequent attack that may occur in the course of plying the Abuja-Kaduna corridor after resumption.

Sambo also reiterated that the use of National Identification Number (NIN) is now compulsory for purchase of train tickets while adults can only use their NIN to register for not more than four minors, adding that it would also take care of ticket racketeering. 

The Minister also expressed confidence that the measures put in place is adequate enough for the train service to commence.

“There are sensitive equipment which we have deployed that I will not reveal. The other thing I can tell you is that for every journey, the train is monitored every second on the screen. 

”The train driver can see from a distance if there are any threats on the tracts that will enable him match the break long before getting to the threat, and that is why I am telling you confidently,” said the Minister. 

The Minister debunked the rumor that train services will resume on Monday, adding that the newly introduced measures will delay the resumption of business along the corridor for a few more days for passengers to get acquainted with the new protocol involved in train boarding before it will resume service.

“We have not said that train services will start tomorrow. I want to be very categorical about that. 

“Now, we have introduced a new system before you buy a ticket. The purchase of a ticket requires you to provide a phone number and a national identification number in order to profile you because that is the beginning of the security checks. So at any point in time when a train moves from one station to another, we know who is on boar

“If you don’t have a NIN you are not going to board our train, it is as simple as that. If you are a minor, an adult will register for you and an adult can only register for not more than four minors.

“Now, we want to give sufficient time for the Nigerian public to listen to these two requirements, to assimilate this new system. So if you go and start tomorrow, a lot of people will be disgruntled. Why didn’t they tell us that this is a new way of doing it? Why didn’t they give us adequate time to do it? So we want to give you adequate time. Definitely between 3,4,5 days, certainly not more than a wee

Sambo assures Nigerians that a smooth and secure train ride is guaranteed, also noted that the trains will not travel at night for now, while there is also going to be a review in train fare

“I can assure you that we are a very sensitive government and will consider the masses in the review of the train fare

We are not going to tell you what we have done. It is a security matter and I have no apologies for that.  

“We’ll be monitoring it on a daily basis and improve on wherever we find some snags.

“The ticketing called e-ticketing has already been contracted to a company called secure ID. That concession has gone through the entire concession process under extant laws, including approval by the Federal Executive Council. So that concession remains in place for the duration of the concession period, which I think is 10 years.

Sambo said that although only God can guarantee maximum security, he assured Nigerians that everything is in place to guarantee a secure and smooth train ride.

“We are not going to tell you what we have done. It is a security matter and I have no apologies for that. 

“We’ll be monitoring it on a daily basis and improve on wherever we find some snacks.

The Minister assured that Secured ID will continue to handle the e-ticketing service.

“The ticketing called e-ticketing has already been contracted to a company called secure ID. That concession has gone through the entire concession process under extant laws, including approval by the Federal Executive Council. So that concession remains in place for the duration of the concession period, which I think is 10 years.

The Minister was accompanied by the Minster of State for Transportation, Ademola Adegoroye; Minister of Water Resources Eng. Suleiman Adamu; Managing Director, Nigeria Railway Corporation Fidet Okhiria; Chairman Governing Board Nigeria Railway Corporation Ibrahim Musa amongst others.

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