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NEPC Trains 35 Women Entrepreneurs On Packaging, Labeling Of Shea Products

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NEPC trains 35 women entrepreneurs on packaging, labeling of shea products
NEPC trains 35 women entrepreneurs on packaging, labeling of shea products
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The Nigerian Export Promotion Council (NEPC) on Monday in Abuja, empowered 35 women entrepreneurs on packaging and labeling of shea products.

The News Agency of Nigeria (NAN) reports that NEPC organised the two-day training in collaboration with the International Trade Centre (ITC).

Dr Ezra Yakusak, the Executive Director and CEO of NEPC, said that the training was essential in equipping the women with the knowledge to develop appropriate packaging and labelling solution.

According to Yakusak, in today’s global marketplace, packaging and labelling play pivotal roles in determining the success of non-oil exportable products.

“They are the first impressions products make on our customers, the stories we tell through our branding are the crucial elements that enable us to stand out and compete globally.

“However, we acknowledge the challenges that many businesses face in this regard.

“It is not merely about understanding the importance of good packaging and labelling but building a sustainable packaging system.

“When you are starting something for the first time, you need to figure out how to begin and understand the complicated steps.

“You also need to make choices that align with your customers’ needs and specific market requirements for the market,’’ he said.

The NEPC boss further said that the workshop would provide valuable guidance to shea product processors, distributors, cooperatives, traders packing shea products in bulk, semi-bulk for hotels and restaurants, retails, and e-commerce.

“In doing this, we aspire to enhance the efficiency, profitability and sustainability of your businesses.

“Our approach is like a roadmap to prevent mistakes when improving your packaging.

“It saves time and money by doing things correctly from the start, instead of trying different things and learning from errors,’’ he said.

Yakusak urged the participants to utilise the opportunity to improve their businesses.

“The knowledge you gain here will be a contributory driving force behind the success of your businesses.

“So, let us embark on this journey together, exploring the world of packaging and labelling, and charting a new course toward greater success and sustainability in the shea beauty sector,’’ he said.

Mr Frederic Couty, a packaging and continuous improvement expert at ITC, said that the programme was about supporting small and medium scale companies to improve their packaging system.

According to him, it will enable the beneficiaries to better access the market and to improve their sales, improve their profitability on the Nigerian market and also outside Nigeria.

“We look at the methodology on how to improve a packaging system and how to create a new packaging system in a cost-efficient manner doing right the first time in order to reach the targeted customer in an efficient manner.

“There are many ways to improve their packaging system.

“First is to align your strategy with the packaging system. You don’t design the packaging system for yourself but you design as an entrepreneur, you design it for your targeted customers.

“So, it is very important to understand the difference between those two components and more specifically to take your strategy and to see how this can influence your packaging system.

“This means your packaging materials is behind the graphic that you are going to develop on your products and developing good relationships with your suppliers of materials.

“Others are identifying the right type of packaging equipment to facilitate the packing of your product and then also come with the logistics and the transportation of the finished product,” he said.

One of the beneficiaries, Mr Evelyn Nduka, commended NEPC for the opportunity, saying that the knowledge acquired would enable her to align with her customers’ market requirements.

 

(NAN)

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Business & Economy

CBN Issues July 7 Deadline For PoS Operators’ Registration With CAC

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The Central Bank Of Nigeria (CBN) has issued a July 7, 2024 deadline for Point of Sales (PoS) operators to complete registration with the Corporate Affairs Corporation (CAC).

This was revealed during a meeting between Fintechs and the Registrar-General/Chief Executive Officer (CAC) Hussaini Magaji (SAN) in Abuja on Tuesday.

Speaking at the event, the CAC boss said the two-month timeline to register their agents, merchants, and individuals with the commission, was “in line with legal requirements and the directives of the Central Bank of Nigeria”.

“The measure aims at safeguarding the businesses of Fintech’s customers and strengthening the economy,” a statement titled ‘CAC, PoS OPERATORS AGREE TO TWO-MONTH DEADLINE TO REGISTER THEIR AGENTS AND MERCHANTS TO STRENGTHEN THE FINTECH INDUSTRY‘ issued by the CAC added.

He stressed that the action was equally backed by Section 863, Subsection 1 of the Companies and Allied Matters Act, CAMA 2020, and the 2013 CBN guidelines on agent banking.

Magaji explained that the timeline for the registration which will expire on July 7, 2024, was not targeted at any groups or individuals but aimed at protecting businesses.

Several speakers from the Fintech industry pledged to collaborate with the commission to ensure hitch-free implementation of the directive.

Some of them, however, stressed the need for adequate and collective sensitisation, to ensure that the exercise achieved the desired results.

The Special Adviser to the President on ICT Development and Innovation, Tokoni Peter, in his remarks, pledged to ensure smooth facilitation of the process in line with the Renewed Hope Initiative of the present administration.

The representatives of Opay, Momba, Palmpay Ltd, Pay Stack, Fair Money MFB, Monie Point, and Teasy Pay present at the event, later signed up for a document to support the project.

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CBN Directs Banks To Charge 0.5% Cybersecurity Levy

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CBN Headquarters Abuja
CBN Headquarters Abuja
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The Central Bank of Nigeria (CBN) has directed deposit money banks in the country to start charging 0.5% cybersecurity levy on transactions.

This was contained in a circular dated May 6, 2024 by the apex bank to all commercial, merchant, non-interest and payment service banks as well as mobile money operators and payment service providers.

“Following the enactment of the Cybercrime (Prohibition, Prevention, etc) (amendment) Act 2024 and pursuant to the provision of Section 44 (2) (a) of the Act, ‘a levy of 0.5% (0.005) equivalent to a half percent of all electronic transactions value by the business specified in the Second Schedule of the Act’, is to be remitted to the National Cybersecurity Fund (NCF), which shall be administered by the Office of the National Security Adviser (ONSA),” the circular partly read.

The apex bank said that the implementation of the levy would start two weeks from the date of the circular.

“The levy shall be applied at the point of electronic transfer origination, then deducted and remitted by the financial institution. The deducted amount shall be reflected in the customer’s account with the narration, ‘Cybersecurity Levy’.

“Deductions shall commence within two weeks from the date of this circular for all financial institutions and the monthly remittance of the levies collected in bulk to the NCF account domiciled at the CBN by the fifth business day of every subsequent month,” the circular added.

Exempted from the levy include loan disbursements and repayments, salary payments, intra-account transfers within the same bank or between different banks for the same customer, intra-bank transfers between customers of the same bank.

Also exempted from the levy were inter-branch transfers within a bank, cheque clearing and settlements, ⁠Letters of Credits, ⁠Banks’ recapitalisation-related funding only bulk funds movement from collection accounts, savings and deposits including transactions involving long-term investments, among others.

The apex bank recently stopped fintechs firms like Opay and Palmpay from onboarding new customers and directed banks to deduct 0.375 per cent stamp duty charge on all mortgaged-backed loans and bonds.

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Kaduna refinery will begin production in December – NNPCL Boss, Kyari

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The Group Managing Director of the Nigerian National Petroleum Company Limited, NNPCL,Mele Kyari has disclosed that the refinery in Kaduna State will be ready for production by December 2024.

He disclosed this during a meeting with the Independent Petroleum Marketers Association of Nigeria and the Major Energy Marketers Association of Nigeria in Abuja.

He disclosed that operations at the Port Harcourt refinery are scheduled to begin in two weeks.

According to Kyari: “We did a mechanical completion of the (Port Harcourt) refinery, that was what we said in December. We now have crude oil already stocked in the refinery. We are doing regulatory compliance tests that must happen in every refinery before you start it, and I assure you that this Port Harcourt refinery will start in the next two weeks.

“Completing the mechanical work means that you are done with the rehabilitation work, now you have to test to see how it works. Of course, we have also completed the mechanical work on the Warri refinery.

“It is also undergoing regulatory compliance; processes that we are doing with our regulator, and this will soon be completed and it will be ready.

“The Kaduna refinery will be ready by December. We have not reached that stage in Kaduna, but we promise Kaduna will be delivered by December.”

 

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