Sunday 21 June 2020
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BDSUNDAY 23
SundayBusiness NSIA to invest N114bn in raw materials, logistics, others Hope Moses-Ashike
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he Nigeria Sovereign Investment Authority (NSIA) plans to invest an estimated N114 billion on items that cover raw materials, logistics, contract blending costs by third party blenders, among others. Financial statements on the NSIA website indicate that since the inception of the scheme in 2017 up to 2019, N107 billion has been invested in Presidential Fertilizer Initiative (PFI). The prudent management of the PFI has transformed the agriculture sector in obvious ways. For instance, NPK fertilizers which was sold at between N11,000 to N13,000 per 50kg bag in some places now sells for N5,000, making it possible for farmers to access more of the product to improve yields. In the past only farmers that were lucky get up to two bags of subsidised fertilizer. But farmers could today buy as many bags of fertilizer as they want at an affordable price. PFI took off in 2017 after the visit of the King of Morocco to Nigeria in December 2016 and the subsequentsigningofathreeyear bilateral agreement with Morocco for the supply of Di-ammonium Phosphate
(DAP), a key ingredient for fertilizer production. The mandate of PFI was to make high quality fertilizer available to Nigerian farmers at the right time and at an affordable price, and to revive the ailing fertilizer blending industry so that Nigeria could achieve food security. Th e P F I ’s b u s i n e s s model, according to insiders, involves sourcing for and procurement of four constituent raw materials required for production of NPK 20:10:10 fertilizer. Of the raw materials sourced, 37percent of the input are imported, consisting of DAP from Morocco and Muriate of Potash (MoP) from Russia while the remaining 63% of the raw materials, mostly Urea and limestone granules, are sourced locally. The raw materials are blended locally at accredited blending plants nationwide to produce the fertilizer for delivery at a target price of N5,500 per 50kg bag (now N5,000 per bag from April 2020). Th e i n i t i a t i v e h a s created more jobs for
Nigerians. According to FEPSAN estimates, over 100,000 new jobs have been created outside farming jobs. It has created jobs in other sectors of the economy such as logistics, haulage/transportation, ports management, bag manufacturing, industrial warehousing, and microeconomic activities in and around the blending plants. Apart from boosting economic activities in the country, Fertilizer Producers & Suppliers Association of Nigeria (FEPSAN) estimates that the PFI has saved Nigeria hundreds of millions in foreign exchange to date and billions of Naira in budgetary subsidy which no longer had to be paid. Ac c o r d i n g t o t h e statement the involvement of the Nigerian Sovereign I n v e s t m e n t Au t h o r i t y (NSIA) as managers of the initiative seemed to have changed the dynamics for the President Muhammadu Buhari administration which hoped to diversify the economy away from oil into agriculture.
The unconventional way to achieving a happy life
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hat is happin e s s ? Th i s question seems odd, right? This isn’t a question we often think about, but we know it when we feel it. Happiness can be used to describe positive emotions that range from contentment to intense joy. I was fascinated by the book ‘The Chiology Way of Happiness’, where the author describes how to achieve happiness through your chi. Years ago, the Igbos believed they were guided by their chi. Each individual had a chi and their chi determined their destiny. All matter on the earth consists of atoms and molecules which are in constant motion, vibrating or spinning,
manifested in everything within the universe. This means that every living thing is radiating energy and vibration. Therefore, the chi in this sense doesn’t refer to the Chi Ukwu (Almighty God) or Chi Okike (The Creator) but Soul, Energy and Vibrations. Chiology is the study of the Chi. The goal is to be one with your chi (Munachimso). Whilst reading, I outlined some Chiology ways to happiness and my understanding of what these terms mean to me. Chibuzo: My soul is first or my energy comes first. Happiness is a state, meaning that it isn’t long-lasting. In other to remain in this state, one has to understand his or her energy
(Chi), put their chi first, protect and be very intentional about the energy he/ she exudes and, engage in activities that raise these vibrations/energy activities like yoga, meditation, dancing, physical exercises etc. These activities release Dopamine which is also called the feel-good hormone and brain waves which helps to boost mood, motivation, and attention and helps regulate movement, learning, and emotional responses. Chinedu: The chi is my guide. Every individual is expected to be in touch with their vibrating energy. Have you ever noticed how you meet a person or go into a place and feel off? Recognising the energy around you
NPA commissions two new tugboats to enhance operational efficiency at ports AMAKA ANAGOR-EWUZIE
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etermined to enhance the operational efficiency at the nation’s seaports, the Nigerian Ports Authority (NPA) has commissioned two newly acquired tugboats namely, MT Musawa and MT Ikoro-Ekiti. Speaking in Lagos on Friday at the commissioning ceremony, Rotimi Amaechi, Minister of Transportation, said the purchase of the boats signposts the President Muhammadu Buhari administration’s seriousness in positioning the maritime sector to add greater value to the national economy. He said the tugboats, which are Damen’s 2810 model, further accentuated the determination of the federal government and the NPA to increase operational efficiency. “If anyone was in doubt as to the importance of the maritime sector to Nigerian and global economy, the event of the past three months where ports across the world have remained open in spite of the comprehensive lockdown of virtually other sectors, should instruct on why priority attention has to be given to the sector,” the minister said. Stating that the present government has identified the pivotal role that the maritime sector plays in the actualisation of the fundamental objectives of the Economic Recovery and Growth Plan (ERGP),
Amaechi said that not less than 85 percent of the nation’s external trade passes through the seaports. “The much talked about transition from a monoproduct into a diversified economy is heavily dependent on how robust we can make our maritime space and we are committed to achieving this. Work is ongoing on President’s directive that all seaport locations must be linked up to the standard gauge rail line even as we are determined to link up the 36 state capitals with the Federal Capital, Abuja with standard gauge rail services,” he assured. He applauded the NPA for delivering on this project nine month ahead of schedule, which according to him, is the kind of efficiency that the administration wants to entrench in the polity. Hadiza Bala-Usman, managingdirectoroftheNPA, described the achievement as another testament of this administration’s resolve to prepare the Nigerian Ports Authority for the exigencies of the increasingly competitive global maritime space. She said that the landlord model of port ownership allows NPA to maintain some statutory functions, which include the administration of land and water within the port limits; planning and development of port operational infrastructure; easing and concession of por t infr a str uc tur e and setting benchmark for tariff structure and maintaining nautical/
harbour operations as well as hydrographic survey among others. “ Fo r t h e e f f e c t i v e execution of these functions, the Authority is committed to the continuous upgrade of facilities and equipment that will enhance service delivery. This commitment is to ensure that all the six functioning seaports are prepared for optimal performance at all times. This determination accounts for the purchase of these tugboats, MT Musawa & MT Ikoro-Ekiti joining our other fleet of four namely: MT Daura, MT Ubima, MT Uromi and MT Majiya, which werecommissionedin2017,” she said. According to her, the new tugboats would enhance the maneuvering of large capacity vessels calling at Nigerian ports to berth and unberth, which would ultimately affect the turnaround time of vessels positively. She however assured that vessel owners, concessionaires and other stakeholders will experience better service delivery from the NPA. Akin Ricketts, chairman Board of Directors of the authority said the commissioning of the tug boats marked another landmark in government quest to provide world class services at the nation’s seaports. “Towage service has been an integral part of the determinants of the efficiency of any port as it ensures expeditious passage of vessels in channels and safety in berthing them.
MindBody & Soul
with Chioma Nwosu and acknowledging these emotions, without allowing it to subdue you and letting your soul be your guide is extremely important. Mmaduabuchi: Another man isn’t your Chi. Every man has a destined purpose. When this purpose is being fulfilled man reaches a state of happiness. Understanding that one’s purpose is entirely different from the next persons, removes the need for competition, greed and jealousy which reduces your vibration. Always follow your chi, don’t force other people’s chi. Ume: Breathe. Breathing as we know is an act that comes naturally to us, it’s the first thing we do when we come into this world and the last thing we do when
we leave it. Breathing properly can provide a greater sense of mental clarity, better sleep, improves your body’s immune response and reduce stress level. It helps to calm and relax and can also reduce tension and anxiety and improves concentration and memory. Practising breathing exercises and mindfulness meditations can help with effective breathing. Chebechi: Protecting your Chi. It is essential to protect your space and your energy. This means avoiding abusive or toxic people and stressful environments. Protecting your Chi, means you have to be intentional about what you expose your energy to. This book may seem
quite unconventional but I enjoyed being able to understand happiness from a new perspective. Source: The Chiology Way To Happiness by Dr. Uzoma Nwosu (Purchase on Amazon.com)
Chioma Nwosu is a mental health/positive psychology advocate, speaker and founder of Olamma Cares Foundation an NGO focused on encouraging the social acceptance of developmental disabilities and mental disorders, finding and implementing long term solutions of these conditions through training, capacity building, advocacy and intervention. Email: cnwosu@olammacares.com Instagram: _olamma_