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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

Nigerian Economy Stabilising — CBN Governor, Cardoso

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CBN Governor Yemi Cardoso
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The governor of the Central Bank of Nigeria, Olayemi Cardoso, has said the Nigerian economy has stability.
He disclosed this at the press briefing at the end of its 300th Monetary Policy Committee meeting on Tuesday.

According to him, investors’ confidence in the Nigerian economy has improved over the past eighteen months.

Responding to questions on how improved macroeconomic fundamentals of the Nigerian economy are impacting the lives of Nigerians, he said, “Investors do not go to where there is economic instability. They don’t go out to lose money but to make a profit. With that stability comes confidence and then investment and growth.

“What is now being recognised is that the Nigerian economy is not stable. The inflation numbers speak for themselves.”

Recall that the World Bank, in its latest Nigerian Development Update report, said the country is in good shape as it grew by 3.4 percent in 2024.

 

 

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Business & Economy

 CBN Retains Nigeria’s Interest At 27.50%

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Yemi Cardoso,CBN Governor
Yemi Cardoso, CBN Governor
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The Central Bank of Nigeria Monetary Policy Committee has retained the country’s interest rate at 27.50 percent.

The governor of CBN, Olayemi Cardoso, disclosed this in a press briefing on Tuesday after the 300th MPC meeting in Abuja.

“The committee unanimously agreed to retain MPR at 27.50 percent,” he stated.

Cardoso also announced that the MPC member decided to retain the Cash Reserve Ratio (CRR) at 50 basis points for commercial bank and 16 percent for mortgage bank, the liquidity ratio (LR) at 30 percent, and the asymmetric corridor at +500/-100 basis points around the MPR; other monetary policy decisions were retained.

He justified MPC’s decision to pause the rate hike on the easing of Nigeria’s inflation rate to 23.7 percent in April.

it would be recalled that last week the National Bureau of Statistics consumer price index showed that country’s inflation dropped by 23.7 percent.

In February, the MPC retained the country’s interest rate at 27.50 percent as inflation cooled off.

 

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Renaissance Energy Completes Acquisition Of SPDC

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Renaissance Africa Energy has completed the “acquisition of the entire (100%)” equity holding in Shell Petroleum Development Company of Nigeria (SPDC).

This is according to a statement on Thursday by the spokesman of Renaissance Africa Energy Holdings Tony Okonedo who said the acquisition was completed on the same day.

“This follows the signing of a sale and purchase agreement with Shell in January 2024, and obtaining all regulatory approvals required for the transaction. Going forward, SPDC will be renamed as ‘Renaissance Africa Energy Company Limited,” the statement added.

“We are extremely proud to have completed this strategic acquisition. The Renaissance vision is to be ‘Africa’s leading oil and gas company, enabling energy security and industrialisation in a sustainable manner.’ We and our shareholder companies are therefore pleased that the Federal Government has given the green light for this milestone acquisition in line with the provisions of the Petroleum Industry Act,” said the Managing Director/CEO of Renaissance Tony Attah.

He added: “We extend our appreciation to the Honourable Minister of Petroleum Resources, the CEO of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC), and the GCEO of Nigeria National Petroleum Company Limited (NNPCL) for their foresight and belief, paving the way for the rapid development of Nigeria’s vast oil and gas resources as a strategic accelerator for the country’s industrial development”.

READ STATEMENT BELOW:

RENAISSANCE COMPLETES ACQUISITION OF SHELL PETROLEUM DEVELOPMENT COMPANY OF NIGERIA (SPDC)

Renaissance Africa Energy Holdings today announced that it has successfully completed the landmark transaction between itself and Shell for the acquisition of the entire (100%) equity holding in the Shell Petroleum Development Company of Nigeria (SPDC). This follows the signing of a sale and purchase agreement with Shell in January 2024, and obtaining all regulatory approvals required for the transaction. Going forward, SPDC will be renamed as ‘Renaissance Africa Energy Company Limited.

Renaissance Africa Energy Holdings is a consortium consisting of four successful Nigerian independent oil and gas companies: ND Western Limited, Aradel Holdings Plc. FIRST Exploration and Petroleum Development Company Limited and the Waltersmith Group, each with considerable operations experience in the Niger Delta, and Petrolin, an international energy company with global trading experience and a pan African outlook.

“We are extremely proud to have completed this strategic acquisition. The Renaissance vision is to be “Africa’s leading oil and gas company, enabling energy security and industrialisation in a sustainable manner.” We and our shareholder companies are therefore pleased that the Federal Government has given the green light for this milestone acquisition in line with the provisions of the Petroleum Industry Act” said Tony Attah, Managing Director/CEO of Renaissance who added that:

“We extend our appreciation to the Honourable Minister of Petroleum Resources, and the CEO of the Nigeria Upstream Petroleum Regulatory Commission (NUPRC) and the GCEO of Nigeria National Petroleum Company Limited (NNPCL) for their foresight and belief, paving the way for the rapid development of Nigeria’s vast oil and gas resources as strategic accelerator for the country’s industrial development”.

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