Jobberman

Jobberman to develop Nigeria’s e-commerce sector through behavioral profiling

by with No Comment Business

Jobberman, the single largest job placement website in sub-Saharan Africa, on Wednesday announced its partnership with the USAID-funded Alliance for eTrade Development II (eTrade Alliance) to help drive the development of Nigeria’s thriving e-commerce industry.

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The #FindyourdigitalSuperpower campaign is set to conduct behavioural profiling on 25,000 young people aged 18-35 and 1,000 employees in the formal and informal e-commerce sector.

The aim of the program is to determine how to maximise unique behavioural traits and skills required to boost the booming digital space.

Jobberman will pilot technology on its platform that is designed to profile four categories of individuals in the e-commerce sector, in order to help large structured organisations and informal businesses optimise their talent.

The key indicators of these behavioural profiles will determine team developmental opportunities and gaps, understanding of team dynamics, adapted hiring processes for improved workplace productivity and discovering hidden talents within existing employees. The goal is to create an industry of streamlined successful roles that can be matched against the profiles established in the behavioural analysis.

E-commerce spending in Nigeria is set to reach US$6.1m by the end of 2021 and as more consumers navigate to online shopping due to the pandemic, spending is projected to hit US$9.5m in revenues by 2025.

The fast growing youth population, which makes up half of the country’s total population, is expected to power the digital marketplace with close to two million joining the labour force per year.

The Jobberman and eTrade Alliance partnership is geared to ready the labour market for such growth by identifying strengths and developmental opportunities within the sector, providing the benchmark and supporting resources to allow its potential to be realised.

Rolake Rosiji, CEO of Jobberman Nigeria, says, “We are excited to be collaborating with the eTrade Alliance on this timely campaign which is very much in line with our initiatives to advance the digital landscape of Nigeria.

The emerging e-commerce industry sums up the entrepreneurial energy of Nigerians, which this campaign will build on; by using our innovative technology to transform businesses from a talent perspective.

We are looking forward to seeing the results from the behavioural profiling exercise, which will help to enhance business transformation, especially for digital SMEs.”

eTrade Alliance Project Director Anne Szender echoed Ms. Rosiji’s sentiments stating, “the eTrade Alliance is excited by this opportunity to leverage the skills and expertise of our Alliance partner Jobberman to improve labor market matching in the fast growing digital commerce sector.

Through this innovative pilot we will gain insight into the key traits and skills that are critical for workers in the digital commerce space; information which can inform the design of future workforce development and job matching programs, creating long-term economic impacts for job seekers, SMEs, and their communities.

“I am very excited for the launch of the ‘Find Your Digital Super Power’ project. This initiative will provide participants a competitive edge to attain their aspirations in this digital economy.

Our aim at Roam Africa is to ‘connect Africans to opportunities’ and our partnership with eTrade Alliance for this campaign epitomizes our value of being an impact partner in the economic development of the markets we operate in,” said Reshma Bharmal Shariff, ROAM Africa’s Director of Partnerships, Impact Projects.

With over a decade in the recruitment business, Jobberman has used its platform to develop job seeker skill sets and identify gaps in the labour market. The partnership with the USAID eTrade Alliance reinforces Jobberman’s efforts to empower individuals across Nigeria with the training and skills they need to succeed.

Founded in 2009, Jobberman is an online platform that provides training and placement for jobseekers, as well as the best selection of candidates for companies hiring.

It is the single largest job placement website in sub-Saharan Africa and has the vision to become the leading source of talent in every market it operates in by simplifying job searching and talent acquisition; matching the right set of skills with employers needs.

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Diaspora Investment

What Nigeria must do for more diaspora investment

by with No Comment Uncategorized

More than two years after Somadina Iruegbu, a Nigerian UK-based businessman in diaspora, acquired a large plot of land in one of the most sort-after axis of Lekki, Lagos State, intending to develop it for commercial purposes, he has been unsuccessful in getting a land title.

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Even after asking his lawyer to take over the land registration from his brother who was stuck in the process, a year into it, Iruegbu said he was tired of the different payments his lawyer was requesting to ‘settle’ some officials at the land registration office, to help fasten the process.

READ ALSO: Nigerian stock market extends loss by 0.40%

“I am regretting the investment, if I had invested that money in the UK or even any other country, it would have at least yielded some kind of return by now,” Iruegbu lamented in a WhatsApp call with BusinessDay.

Like Iruegbu, a lot of diaspora Nigerians have had a fair share of the harsh business environment. Possibly, Iruegbu’s experience might even discourage others.

The bottlenecks associated with getting a land title is not peculiar to Nigerians in the diaspora or those with plans to develop lands for commercial use, it also affect a lot of the country’s residents who either do not know people in high offices or lack the funds to ‘settle’ their way out of the normal but long registration process.

Data by PwC show that about 97 percent of lands in Lagos are unregistered. This, according to analysts, makes it difficult for banks to validate claims to land or for land occupants to use their land to create wealth or to start a business.

While Nigerian’s in diaspora moved 15 places to 131 in World Bank Doing Business ranking for 2020, it ranked 149 on the ease of obtaining Construction Permit and requires 17 procedures, 118 days, and 27.5 percent of property value, a factor PwC says would encourage more informal construction of properties and increase risks in the real estate sector.

“Whatever has been done has still not solved the problem of titling, forget the e-certificate. The people that will provide the e-certificate can be bottlenecks in the process,” Jide Ogunleye, CEO of Denaro Properties Limited, says, adding that officials won’t move land document file except they are paid.

The bureaucratic corruption, bribery, embezzlement and extortion in the different levels of government is not peculiar to the land titling office, it is the same for many government establishments.

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Stock Market

Nigerian stock market extends loss by 0.40%

by with No Comment BusinessfinanceNews

Nigerian stock market extended negative trend for the third consecutive trading session following sell pressure on Nigerian Breweries, Dangote Sugar Refinery and tier-1 banks.

READ ALSO: Small businesses get N53b to create 1 million jobs

The All-Share Index on Thursday declined further by 157.39 points or 0.40 per cent to close at 39,394.67 from 39,522.06 posted on Wednesday.

Accordingly, the month-to-date and year-to-date losses increased to 1.1 per cent and 2.3 per cent, respectively.

In the same vein, the market capitalisation shed N83 billion to close at N20.595 trillion against N20.678 trillion recorded on Wednesday.

The market loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Presco, Nigerian Enamelware, Nigerian Breweries, Julius Berger and Ardova.

Consequently, market sentiment was negative with 47 losers in contrast with 13 gainers.

Fidson Healthcare led the losers’ chart in percentage terms with 10 per cent to close at N4.41 per share.

Northern Nigeria Flour Mills followed with a decline of 9.97 per cent to close at N6.32 per share.

NEM Insurance and Nigerian Enamelware shed 9.95 per cent each to close at N1.72 and N19.90 per share, respectively.

NCR declined by 9.91 per cent to close at N3.09 per share.

Conversely, University Press dominated the gainers’ chart in percentage terms with 9.91 per cent to close at N1.22 per share.

Morison Industries followed with 9.09 per cent to close at 60k, while Chemical & Allied Products increased by 5.26 per cent to close at N20 per share.

Lafarge Africa grew by 3.59 per cent to close at N20.20, while livestock Feeds rose by 3.17 per cent to N2.28 per share.

Transactions in the shares of Universal Insurance topped the activity chart with 83.26 million shares valued at N16.65 million.

Zenith Bank followed with 38.65 million shares worth N983.25 million, while FBN Holdings traded 31.25 million shares valued at N216.72 million.

United Bank for Africa accounted for 26.78 million shares valued at N211.57 million while Access Bank transacted 21.59 million shares worth N168.09 million

Meanwhile, the total volume of traded increased by 101.8 per cent as investors bought and sold 493.17 million valued at N4.72 billion exchanged in 5,486 deals.

This was against a total of 244.34 million shares worth N4.13 billion traded in 4,714 deals on Wednesday. (NAN)

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Gas Investments

Nigeria’s local gas opens investment opportunities

by with No Comment BusinessfinanceNews

The Federal Government of Nigeria is stepping up funding for important gas projects to promote the use of local commodities, opening up investment opportunities for pipeline construction, new industrial gas corridors and electricity projects. I am.

With increasing production from natural gas producers in a nearly bearish global market, the global reality of driving energy shifts to cleaner fuels could unleash Nigeria’s potential for gas for domestic use. It has become indispensable. In Nigeria, only 9 percent of the natural gas produced is used.

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“We need a revolution in our energy system,” said Timipre Silva, Minister of Petroleum Resources, in a speech at the Nigerian Gas Association’s (NGA) multi-logue, which was virtually organized on February 25 and 26. I believe. “

“And in that context, an important decision and new impact we can make now is to continue to expand the role and opportunities of natural gas for economic recovery,” Silva said.

According to Silva, the government’s perception that gas will continue to play an important role in economic development has led to the creation of a program to “grow the gas economy through the development of industrial and transport gas markets in a gas-to-electric juxtaposition.” It was. Initiative. “

As a result, the government has mandated the Nigerian National Petroleum Authority (NNPC) to increase its domestic gas usage from approximately 3 billion cubic feet (BCF) to 4.5 BCF, and has identified several projects to drive this result. ..

Mele Kyari, Group Managing Director of NNPC, said in a presentation at the event that the major projects to unlock 4.5 BCF gas for local use were the OB-3 pipeline (AKK pipeline) and Assa North. (Brass petrochemicals), stated through a representative. Especially ELP.

The $ 3.2 billion 40-inch x 614 km Ajaokuta-Kaduna-Kano (AKK) gas pipeline project, which is part of the Trans-Nigeria Gas Pipeline (TNGP), will move 2.2 billion cubic feet of gas per day from Kogi when completed. And you can cross Abuja. , Nigeria, Kaduna, Kano.

They are few, but the industry along this corridor has enough gas to drive growth. However, because the pipeline traverses a large, ungoverned region of Nigeria’s unstable northern region, there is an increased risk of pipeline instability.

The Obiafu-Obrikom-Oben gas pipeline, also known as the OB3 pipeline or East-West pipeline, is a natural gas pipeline that extends from the Obiafu-Obrikom gas plant in Delta to the Oben node in Edo.

The 48-inch, 127 km gas pipeline presents challenges, the latest being the original construction contractor, and Nestoil is technically unable to run the pipeline across the Niger River. The Chinese company China Petroleum Pipeline Engineering Corporation handles this and expects a completion date for the first quarter.

It is planned to supply gas projects in Asa North-Ohaji South, ANOH, one of the largest greenfield gas condensate development projects billed to produce 600 million standard cubic feet of gas per day. ..

If the project is successful, we will provide an alternative link to southwestern Nigeria whenever the critical Esclavos Lagos pipeline system fails.

Brass Fertilizer and Petrochemical Company Limited (BFPCL) is another high priority project. There are two trains producing 5,000 tonnes / day (MTPD) of methanol and 500 million standard cubic feet / day (MMscf / d) gas treatment to extract condensate from natural gas before supplying the remaining lean gas. Includes plant. Methanol plant.

It also includes gas manifolds and pipelines to connect gas processing plants to gas fields and export facilities.

“We are aiming to set up two gas hubs, one in Oven and the other in Brass,” said the NNPC boss.

The NNPC boss further said the gas hub “will make an announcement about gas prices, creating a situation where the industry will begin to mention gas prices in Nigeria.”

Other projects, such as Shell-led AssaNorth and the AssaNorthGas processing company that approved $ 650 million in funding, are also important projects.

“All projections show that 60-70% of the gas that forms the basis of 4.5 BCF comes from electricity. Therefore, broken power lines so that you can make money from your investment in gas. It needs to be repaired and improved downstream collection, “said NNPC.

To this end, the state-owned oil company is considering establishing an additional 5,000 mw of electricity in its network and is currently working with stakeholders to resolve the issue so that the investment can be realized. Said.

However, operators say gas pricing remains controversial. “Our investment has affordable gas prices. We need a price that works,” said Roger Brown, CEO of indigenous oil company Seplat.

Osagie Okunbor, managing director of SPDC and country chair of Nigeria’s Shell Companies (SCiN), said Nigeria’s regulatory approach to gas should not focus too much on renting like oil. He warned that a spurring financial and regulatory environment should be created. Investing in gas projects has a beneficial effect on the economy.

SOURCE: BUSINESS DAY