THE NATION ON SUNDAY MAY 18, 2014
BUSINESS
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The fate of Fast Food joints
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• From left:L-R: Deputy Director, Cassava Value Chain, Federal Ministry of Agriculture & Rural Development, Mr. Efuntoye Ademola Titus; Managing Director, Honeywell Flour Mills Plc, Mr. Lanre Jaiyeola; Technical Adviser, Cassava Value Chain, Federal Ministry of Agriculture & Rural Development, Mrs. Adetunji Oluwatoyin; and Divisional Managing Director, Honeywell Flour Mills Plc, Dr. Nino Ozara, during a courtesy visit to Honeywell by the Federal Ministry of Agriculture & Rural Development team…in Lagos…on Thursday
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LIRS boss honoured
HE good works of transforming the internally generated revenue of Lagos State Internal Revenue Services (LIRS) by its executive chairman, Mr. Babatunde Fowler, has not gone unnoticed as he was on Thursday honoured in a book presented in Lagos. The book, The Rudiments of Taxation in Nigeria written by Olugbenga Obatola and published by ASCO publishers was presented to the public Mr. Lawal Pedro, the permanent secretary at the Lagos State ministry of justice, while speaking at the event, was full of praise for Fowler's works, saying he deserved the honour. Under
Stories by Joe Agbro Jr.
his watch, Lagos State has witnessed a tremendous increase in its internally generated revenues, surpassing all other states. "Other states have come to learn about the Lagos State taxation model," he said. Reviewing the book at the Lagos Chamber of Commerce and Industry venue of the event, Mrs. Bimpe Balogun praised it for covering the whole gamut of basic taxation practice in the country. "What I like most is that there are examples of different matters concerning taxation in Nigeria," she said. The honouree, Fowler, was equally effusive about
the gesture recognising his contributions. He also bought copies of the book for all staff of LIRS and members of the Tax Club at University of Lagos and described the book as the "most complete book" on taxation in Nigeria. "AT LIRS, we give staff training books on taxation to read," he said. "And I have seen a lot of books on taxation in Nigeria, but this is the most complete book I have seen on taxation in Nigeria." Fowler said he was glad that he would be leaving behind young professionals like the author to continue when he retires. The author, a Fellow of the Chartered Institute of Taxation of Nigeria who is
also a chartered accountant, works with the Lagos State Internal Revenue Services. He said he was inspired to write the book when he worked as a taxation lecturer and his students complained about under taxation. "I gave them my notes, but they were too bulky," he said. He then began writing the book in 2009. The occasion which was chaired by Oba Ajibade Agoro, Ranodu of Imota, who was represented by his daughter, was attended by tax professionals and other personalities, amongst which were Dr. Abiola Sanni, and Alhaji M. L. Abubakar who represented the Joint Tax Board.
NEPC advocates market penetration of ECOWAS
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HE successful hosting of the recently concluded World Economic Forum (WEF) in Abuja has been viewed as testimony of Nigeria's global economic relevance. This was the view expressed by Mr. Olusegun Awolowo, the Director-General of the Nigerian Export Promotion Council (NEPC), at a capacity workshop on strategies for penetrating the West African market which held last
Thursday in Lagos. According to Awolowo, it is extremely important to improve market access and inroad into the West African market. "Providing effective strategies for our exporters to increase their abilities to expand into the West African market," he said, "is especially important at this moment, as Asian and European giants are also either seeking to make inroad into the market, or to consolidate their
dominance in the region." Fifteen West African countries have constituted themselves into a bloc, Economic Community of West African States (ECOWAS), and Awolowo said "Nigeria with a population of more than 167 million people is home to half of the population of the ECOWAS region." Speaking on the essence of synergy between member countries in terms of trade, Awolowo reiterated that a solo
exhibition staged by NEPC at Lome, Togo in August 2013 "is yielding results and must be sustained in order to increase our output to the region." Awolowo said that with over $28 billion coming into Africa, Nigeria stood to gain a lot. "The total export of Nigerian non-oil export to West Africa in 2013 was $375, 338, 935," he said. "This definitely needs to be improved upon."
ANAN canvasses capacity building for accountants
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HE President of Association of National Accountants of Nigeria , Sakirudeen Tunji Labode, has called for improved capacity building for accountants. Speaking at ANAN's 32nd Annual General Meeting held in Abuja, he said the group organised trainings at different locations in the country on International Standards, International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) and the Financial Reporting Council of Nigeria Act , among others. He said the Governing Council of the Association of National Accountants of Nigeria (ANAN) has approved the
proposal to build Accounting Research Centres at the Federal University of Agriculture, Abeokuta, Ahmadu Bello University, Zaria and Nnamdi Azikiwe University, Awka. Labode said that work would soon commence in this regard, adding that a number of universities across the country had been identified to benefit from the donation of Research Centres. The ANAN president said that in 2013, the group donated various professional textbooks and accounting laboratories to some universities and polytechnics. He explained that since he became the president one year ago, the association had chanelled a lot of resources to
technical capacity building of members. According to him, ``we realised that one of the greatest legacies we could bequeath to our members is to empower them technically so that they can be useful, not only to themselves but to the association and the nation at large.'' He said: ``trainings were organised at different locations in the country on International Standards, International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) and the Financial Reporting Council of Nigeria Act , among others.'' The ANAN President said that in the last 365 days he came
into office, he had kept faith with his pledge, adding that an appreciable number of the commitments, were, as of now, 100 percent achieved. He said the rest (commitments) were at various developmental levels and were vigorously being pursued. Labode said that as part of the association's contributions to national discourse, it had embarked on a rigorous campaign against corruption in the polity. ``Immediately we came on board, we championed Whistle Blowing Campaign,'' the Accountant said. Labode mentioned that ``the process of ANAN full membership of the International Federation of Accountants (IFAC) is in full swing.''
ASTING my mind back on the years gone by, precisely in the early 90's, my siblings and I earnestly looked forward to weekends. Not only because they were days out of school but also because Saturdays were for visiting extended families and friends, also dedicated to attending functions such as weddings and birthdays were the so called "party jollof rice was served" . Sundays had a culture of giving every member a special treat. The meals were carefully chosen but oftentimes, lunch was eaten out, either at resort/recreational centres or at fast food joints. I am sure those who belong to this generation and the older one would agree that as soup seasoning is synonymous to Maggi, Soda to Coke, so also were eateries to Mr. Biggs. A brand that became a household name and sweet rhymes in the mouth of young ones. It was popular for the difference it introduced to the idea of fast food joints and the attractive packages they had for kids on public holidays. Getting children under control was as easy as informing the little one that he/she would be denied a trip to Mr Biggs if they do not behave themselves. That was how much it meant to us back then. Whether the business was profitable was not in question as branches sprang up quickly in other locations of Lagos state where it started out and of course other states of the nation. Being a free and open market, competitors also rose quickly introducing brands like Sweet Sensation, Tasty Fried Chicken, Tantalizers, Chicken Republic, Tetrazzini. Foreign names like Nandos and KFC are also not left out to mention but a few. The need for this service has gradually shifted from mere luxury treats to a make up for unavailable homemade meals due to the increase in number of working class wives, increase in the number of cars plying the roads and consequently a rise in the number of useful hours spent in road traffic. This has expanded the range of service offered from just eat-in to home/office/school delivery to cater for the varying needs of their growing clients. Things have however changed dramatically, local food joints known popularly known as "mama put" have begun adding a touch of class to their service, improving the ambience, embracing payment technologies such as PoS to cater for all classes of people. The then leading fast food joints are however losing it either to dilapidating structures and or decline in quality service. Back in 2011, I met a certain young man who boasted of being a part of the team constituted to rebrand Mr. Biggs. What was obvious to many was at least the external refurbishment of their outlets, a slight alteration to the brand colour, and a new brand font. Just like the rebranding campaign hosted and led by Prof. Dora Akunyili during her administration as the Minister of Information and Communication with the slogan "good people, great nation" which generated lots of awareness, negative comments and no obvious positive result if any. Organizations that offer service need to come to terms with the fact positive changes which will impact on the financial standing of the firm require a careful review of the organization's visions and missions. Often times, the vision gets lost over the years as employees are hired, fired and voluntarily retire. The mission on the other hand needs to be redefined to accommodate the frequent changes of a dynamic society. Psychometric tests and analysis are to be conducted on to-be hires to ensure that upon induction, they exhale the organization's core values in carrying out their duties. Way too early into this rebranding exercise, the Oba Akran outlet of Mr. Biggs was visited late in the year 2012 at about 7pm in the evening. I was in shock as it lacked similitude with the same eatery I craved to visit as a child. The security man at the door post appeared weak and worn already, looking shabby in the uniform, managing a few words of greeting to the customers who walked in. This was done in anticipation of tips from these customers on their way out as an obvious grin took over his face each time he was let down. The attendants took their time chatting away and delaying the few customers before them. A few tables were left unkempt and the available furniture visibly lacked basic care. The cleaners began placing chairs on tables, sending signals of closure to clients and a customer had to request that his food be packed as sweeping began while he was being attended to.They have a unique snack, tasty fiesta which many adults opt for. Subsequent visits to their outlets on the island and about three on the mainland has shown a decline in request as it was rarely available with one excuse or the other. There have been tales about Tasty Fried Chicken offering customers stale chicken, Sweet Sensation with not properly processed chicken, tantalizers like a living dead in the minds of people and Chicken republic with inconsistent service. One begins to wonder if this line of business has become less profitable or what went wrong. The answer however is not farfetched,the business owners. Surprised I guess, but it is apparent that once the funds invested are recouped, a regular and impressive flow of income guaranteed, they neglect the virtues that built the brand to its enviable state. Less attention is given to the quality of staff hired. They are rather interested in making up the numbers needed to keep sales moving. The extra service offered to attract customers and keep them coming no longer seems to be a priority. They begin to stay far away from the business when it needs them the most with increased clientele leaving them at the mercy of employees who are primarily interested in what they earn monthly. Until Nigerianservice providers develop genuine passion for those they serve, customers would easily make the choice of walking away once they no longer enjoy the service or get value for their money.