Porous Borders, Ignorance Biggest Killers Of Local Tomato Paste Brands In Nigeria

Porous Borders, Ignorance Biggest Killers Of Local Tomato Paste Brands In Nigeria

 An array of Tomato paste and related product in the Nigerian market

A recent undercover survey has revealed that Nigeria’s porous borders and the poor capacity of Nigerian consumers to differentiate between quality and substandard tomatoes paste products are the biggest factors challenging the success of Nigeria’s indigenous tomato paste industry.

A recent visit to the border town of Seme and Cotonou in Benin republic revealed that there are huge warehouses heaped with imported tomatoes brands like Super Mum, Leya, Toma, Ginu, Bonjour, Fam Stew and many others. All the 12 warehouses visited eagerly offered to deliver in Nigeria any quantity of any brand chosen within two days if seventy percent down payment is made. A top distributor in Cotonou, Fedinand Ababio showed us packed consignments he claimed would be delivered to Nigeria that night.

With Nigeria’s economy dominated by substandard and cheap tomato paste smuggled across the borders, tested local brands like vitali, Ric-Giko and Sonia are left to fight for the life of their local firms.

Another survey has equally revealed that the yardstick used by most consumers to pick their preferred tomato brand is the level of “thickness” and “redness” of the paste. In a chat with 22 housewives and caterers in three different areas of Lagos, all those who had preferred brands used this erroneous yardstick in making their choice.

Recent findings revealed by National Agency for Food and Drug Administration and Control (NAFDAC) shows there is need for massive consumer education in the area of knowing a tomato paste brand that is healthy to avoid the present trend of self-poisoning that is going on in the country.

NAFDAC officials recently visited 27 main markets and four major supermarkets around Lagos and picked 330 samples of tomato pastes for laboratory analysis. The results for 314 were later released. Out of 314 released, 286 of these tomato pastes originating from China, representing 91.1 percent, were found unsatisfactory in terms of tomato content. Only 28 returned satisfactory, even though both satisfactory and unsatisfactory tomato pastes had the same red colour.

The red colour in most of the tomato pastes imported into Nigeria indicates an addition of colorant, which is prohibited, dangerous to health and shows that Chinese companies are merely adding colour, rather than the raw material called concentrates, into tomato pastes imported into Nigeria. These colouring stick to veins, arteries and vital organs and accumulate to cause cancer, hypertension and other diseases.

Another revelation is that the majority of the imported tomato pastes in the country do not contain lycopene, thereby exposing millions of Nigerians to cancer and other deadly diseases.

Lycopene, is a free radical-fighting antioxidants. Free radicals are damaging molecules that float around in the body disrupting cells and promoting disease. Antioxidants, such as lycopene, destroy free radicals so they can't attach to your cells and wreak havoc on the immune system.

The deception is completed by reducing the content of tomato concentrates and filling up the space with starch to boost thickness.

Nigerian consumers, effectively deceived by these con importers, cannot sustain genuine local producers like, Chief Eric Umeofia, President/ Chief Executive Officer of Erisco Foods ltd.  Erisco has a  450,000 metric tonnes per annum capacity plant in Lagos, equipped to steer a tomato paste revolution in the country and end the annual wastage of over 75 percent of fresh tomatoes across Nigeria. The company has promised to create thousands of jobs for Nigerians as long as the Federal Government supports and protects her $150 million plant.

Disturbingly, activities of nefarious tomato paste importers, supported by an ignorant consuming public are almost bringing the local tomatoes industry to its knees.“We have huge stocks of finished products worth billions of naira in our warehouses which we are not selling due to dumping of these dangerous and substandard brands of tomato paste from China that are cheap and filled with starch and colours,” the president of Erisco Foods explains.

“We have the capacity to employ over nine thousand Nigerians in our Lagos factory alone if government protects tomato paste industry,” he further said.

Umeofia also revealed that with about "one thousand containers of tomato coming into Lagos port every week. Nigeria is losing $1billion to tomato paste importers every year."

The President of Erisco Foods spoke further on the plight local producers of tomato paste: "About two months ago, our tomato plant almost closed down. We couldn't sell our tomato because of the fake ones in the market. NAFDAC refused to do its work. Luckily, the federal government said no product that can be made in Nigeria will have foreign exchange allocation. That was when our business started to rise like Lazarus. Now, we have recalled all the staff we sent away and are employing more.

"By the time this product saturates the market, Nigerians will realise what we've done for them. It is about creating a standard, and letting everyone work based on that. That way, the economy will be better. We want to use our own tomato to develop our economy. We will create jobs. It touches my heart to see graduates applying for casual work here. The day I almost died was the day I signed to retrench people in this company because of lagging sales. "

DUNLOP NIGERIA PLC BORROWED CASH TO PAY SHAREHOLDERS DIVIDENDS”

MAY BE IT'S TIME E.F.C.C INVITES MR DAPO LAWUYI FORMALLY OF TYRE MAKER ,DUNLOP NIGERIA PLC IN LAGOS FOR A CHAT.


“DUNLOP NIGERIA PLC BORROWED CASH TO PAY SHAREHOLDERS DIVIDENDS”
BY ABDULMUMINI ADEKU.
Moribund Dunlop Nigeria Plc actually borrowed money from all kinds of sources to pay its shareholders for up to five years ,Paedia Express Multimedia’s News Office Desk has learnt as at press time.
In an exclusive investigations in Lagos,Nigeria ,it was discovered that about a decade ago ,the tyre maker’s top executives in an attempt to hoodwink its shareholders and give them the impression that all was well in its financial audited books actually aided and abetted the cooking up of its books while borrowing cash to pay salaries and dividends to shareholders.
An impeccable source who explained to this reporter noted that because salaries were being paid a lot of lower and middle ranged staff in the blue chip which was tagged a multi –national did not know that all led management lied to the general public bare faced.
The source speaks:”I got wind of this information because one of their Chief Accountant is a consultant to a firm that I also consult for at the moment,so we used to discuss about the past and even corporate fraud”
This days,the tragedy that the brand became always hits hard on any passer- by at the relics of what used to be the corporate Head office of Dunlop Nigeria Plc with the compound taking over by  a bank ,a church while a larger portion of its warehouse would appear have being taken over by rodents and reptiles.

EXPERT IDENTIFIES MEDIA IDEOLOGIES IN NEW BOOK

EXPERT IDENTIFIES MEDIA IDEOLOGIES IN NEW BOOK
BY ABDULMUMINI ADEKU.

INSIDE A TELEVISION STUDIO IN NIGERIA
A media expert and the Head ,General Studies ,Nigerian Institute for journalism ,Lagos,Nigeria,Dr Dele Omojuyigbe has identified the various ideologies to be found in the newsroom .
In a ground breaking literary masterpiece ,a copy of which is now in Paedia Express Multimedia Library ,it was also discovered that factors such as sociology, physiology, economy, cultural values have a hue role to play in the way a reporter and even an editor will behave in the newsroom..
He explained that there was no form of zero neutrality in the art of field reporting of news generally as each medium can report a particular incident based on what suits its own purpose for an  audience.
He stated that however in all of this ,a journalist should always learn to be responsible as his activity can either make or mar the society on the long term.
He cited the case of the movement of some Governors from the Peoples Democratic Party [P.D.P] to the All Progressives Congress [A.P.C] in which several media reports on the same issue were stated in different perspective to suit the purpose of each media title to its audience.
He divided the divisions of the press into the following categories: watchdog ,lapdog ,lying dog and pet dog and asked the press executives in the gathering which one they actually belong to .
The book states in page !75”There is an impression that news is immune to all forms of prejudice,personal and corporate opinions “
“newspapers can report an issue or event differently even when the news source is the same ,therefore news may not wear the cloak of objectivity as glibly canvassed in media circles”
“a certain degree of manipulation occurs during reporting and language is the instrument employed for the manipulation”
The book defined manipulation as the way issues are presented in newspaper reports in an articulated manner in such a way that its ideological positions are distinct.
Mr Gbenga Omotosho ,Editor of the Nation Newspapers, Prince Femi Kusa,Trado Medical Columnist, The Nation Newspapers, Eluemuno Emeka Izeze ,Managing Director of The Guardian Newspapers in Nigeria, his Deputy,Mr Debo Adeshina are recognized but dangerous manipulators in the Nigerian news business but the society and the owners of the companies they work for give them a pat on the back for job well done.
This reporter was always mobbed by both Omotosho and Kusa inside the newsroom at The Comet Newspapers over reports even when there were clear cut evidence to show that they were indeed very true while the likes of Izeze and Adeshina were found of Osamalizing him at Rutam House ,no matter the genuineness of the report.
However ,the more this reporter protests about their unethical and odious character, the more the Nigerian society celebrates them with the entire press keeping sealed lips

NIGERIA’S ECONOMY CONTINUES TO HAEMORRHAGE, f February ,2016 ,this reporter accompanied one of his bosom friends to cash some amount of money in an Automated Teller Machine [A.T.M.]terminal belonging to Zenith International Bank Plc and Ecobank Nigeria Plc and to their amazements there was not a single dime inside the machines. On the 10th of February,2016,this reporter spotted officials of First City Monument Bank Plc as they were combing the railway station axis of Ikeja,Lagos,Nigeria asthey hunted for new customers as against the past when they were comfortable staying back in their offices. The same scenario was also spotted elsewhere around Iyana Ipaja ,Lagos as First Bank Plc searched for a new customer clientele . An impeccable source who was a contractor at Skyebank Plc before now said he was no longer getting any new contractual jobs since the advent of the present regime in Nigeria. His Words:”Things are really tight and I learnt that Skye Bank sacked workers in November,2015 and now they are thinking of sacking again” “I learnt that there is a lot of job cuts going on at the moment in the financial services sector ,on Monday ,8th February ,2016 ,this reporter scanned the inner pages of The Punch Newspapers and they had less than 20 pages of advertising thus showing the level of stress and strains businesses are going through at the moment” In a related issue,this reporter has also witnessed first -hand how there has been poor or epileptic electricity power supply for up to a month now in the metropolitan city of Lagos. Sources claim that a place like Ogba,Ifako Ijaiye and Agege arwe affected due to a high tension pole which got hit by a car ,some others claim that around this period of the year there was always cases of low water level at the Kainji Hydro electricity Dam in New Bussa ,Niger State. Several sources are also not very pleased with the decision of the Federal Government in partnership with its power sector stakeholders who have jerked up the tariffs in the sector but have not improved upon the quality of electricity being consumed by the consumers. In a related issue,The News Office Desk of Paedia Express Multimedia in Lagos ,Nigeria has also learnt on the 30th of March,2016,that famous celebrity journal: National Encomium was not on the vendor stands due to the inability of the publisher to raise the cash to buy news prints. Just last month ,there was a resignation of a key editor at the Hallmark Newspapers and a mass sack due to the inability of the publisher to raise cash to run his operations the brand was said to have being off the news stand for two to three weeks before it returned. The Ogun State chapter of the Independent Petroleum Marketers of Nigeria[ I.P.M.A.N]has since declared that it will be difficult for the present Buhari regime to restrict prices per litre of petroleum to N40. , April 1 (Reuters) - Nigerian overnight interbank lending rates fell more than half on Friday to around 5 percent from last week's 13 percent after the central bank injected fresh liquidity into the system, traders said. The central bank retired about 179 billion naira ($900.40 million) in matured treasury bills through open market operations (OMO) on Thursday. On Wednesday the bank refunded about 500 billion naira in unused balance of cash deposited by commercial lenders for forex purchases, swelling liquidity in the market and forcing down cost of borrowing among banks. Overnight placement rose sharply last week to around 20 percent after the central bank recalled some 400 billion naira from the banking system to meet a new cash reserves ratio (CRR) on deposits. The market closed at 13 percent last week after cash payments from international oil companies operating in Africa's largest crude producer under a joint venture agreement hit the system. Nigeria's central bank raised its benchmark interest rate from 11 to 12 percent last week, and the cash reserve ratio for commercial banks to 22.5 percent from 20 percent, to try to curb an increase in inflation, leading to fears of higher interest rates. The total commercial lenders' credit balance with the central bank rose to 564.35 billion naira, up from 320.9 billion naira last week Thursday, traders said. Traders said the central bank floated 50 billion naira in 209-day OMO bills on Friday, but was yet to release the auction results. "We expect to see interbank rate inching up slightly next week as banks make provisions for foreign exchange purchases and possible sales of more OMO bills by the central bank," one dealer said. The interbank rate reflects the level of naira cash liquidity in the banking system. ($1 = 198.8 naira)

NIGERIA’S ECONOMY CONTINUES TO HEMORRHAGE

BY ABDULMUMINI ADEKU,OLUDARE MAOWA AND CLELIA OZIEL.


.
NIGERIA'S ECONOMY UNDER BUHARI NEEDS URGENT PALLIATIVES

The  Nigerian economy is in serious trouble and this is no pub talk.

Checks by the News Office Desk of Paedia Express Multimedia in Lagos,Nigeria recently shows that unless there were urgent palliatives provided by the financial regulator,The Central Bank of Nigeria ,the nation’s economy may grind to a screeching halt soon.

On the 7^th of February ,2016 ,this reporter accompanied one of his bosom friends to cash some amount of money in an Automated Teller Machine [A.T.M.]terminal belonging to  Zenith International Bank Plc and Ecobank Nigeria Plc and to their amazements there was not a single dime inside the machines.

On the 10^th of February,2016,this reporter spotted officials of First City Monument Bank Plc as they were combing the railway station axis of Ikeja,Lagos,Nigeria asthey hunted for new customers as against the past when they were comfortable staying back in their offices.

The same scenario was also spotted elsewhere around  Iyana Ipaja ,Lagos as First Bank Plc searched for a new customer clientele .

An impeccable source who was a contractor at Skyebank Plc before now said he was no longer getting any new contractual jobs since the advent of the present regime in Nigeria.

His Words:”Things are really tight and  I learnt that Skye Bank sacked workers in November,2015 and now they are thinking of sacking again”

“I learnt that there is a lot of job cuts going on at the moment in the financial services sector ,on Monday ,8^th February ,2016 ,this reporter scanned the inner pages of The Punch Newspapers  and they had less than 20 pages of advertising thus showing the level of stress and strains businesses are going through at the moment”

In a related issue,this reporter has also witnessed first -hand how there has been poor or epileptic electricity power supply for up to a month now in the metropolitan city of Lagos.

Sources claim that a place like Ogba,Ifako Ijaiye and Agege arwe affected due to a high tension pole which got hit by a car ,some others claim that around this period of the year there was always cases of low water level at the Kainji Hydro  electricity Dam in New Bussa ,Niger State.

Several sources are also not very pleased with the decision of the Federal Government in partnership with its power sector stakeholders who have jerked up the tariffs  in the sector but have not improved upon the quality of electricity being consumed by the consumers.

In a related issue,The News Office Desk of Paedia Express Multimedia in Lagos ,Nigeria has also learnt on the 30^th of March,2016,that famous celebrity journal: National Encomium was not on the vendor stands due to the inability of the publisher to raise the cash to buy news prints.

Just last month ,there was a resignation of a key editor at the Hallmark Newspapers  and a mass sack due to  the inability of the publisher to raise cash to run his operations the brand was said to have being off the news stand for two to three weeks before it returned.

The Ogun State chapter of the Independent Petroleum Marketers of Nigeria[ I.P.M.A.N]has since declared that it will be difficult for the present Buhari regime to restrict prices per litre of petroleum to N40.

, April 1 (Reuters) - Nigerian overnight interbank lending rates fell more than half on Friday to around 5 percent from last week's 13 percent after the central bank injected fresh liquidity into the system, traders said.
The central bank retired about 179 billion naira ($900.40 million) in matured treasury bills through open market operations (OMO) on Thursday.
On Wednesday the bank refunded about 500 billion naira in unused balance of cash deposited by commercial lenders for forex purchases, swelling liquidity in the market and forcing down cost of borrowing among banks.
Overnight placement rose sharply last week to around 20 percent after the central bank recalled some 400 billion naira from the banking system to meet a new cash reserves ratio (CRR) on deposits.
The market closed at 13 percent last week after cash payments from international oil companies operating in Africa's largest crude producer under a joint venture agreement hit the system.
Nigeria's central bank raised its benchmark interest rate from 11 to 12 percent last week, and the cash reserve ratio for commercial banks to 22.5 percent from 20 percent, to try to curb an increase in inflation, leading to fears of higher interest rates.
The total commercial lenders' credit balance with the central bank rose to 564.35 billion naira, up from 320.9 billion naira last week Thursday, traders said.
Traders said the central bank floated 50 billion naira in 209-day OMO bills on Friday, but was yet to release the auction results.
"We expect to see interbank rate inching up slightly next week as banks make provisions for foreign exchange purchases and possible sales of more OMO bills by the central bank," one dealer said.
The interbank rate reflects the level of naira cash liquidity in the banking system.
($1 = 198.8 naira)

The  Nigerian economy is in serious trouble and this is no pub talk.

Checks by the News Office Desk of Paedia Express Multimedia in Lagos,Nigeria recently shows that unless there were urgent palliatives provided by the financial regulator,The Central Bank of Nigeria ,the nation’s economy may grind to a screeching halt soon.

On the 7^th of February ,2016 ,this reporter accompanied one of his bosom friends to cash some amount of money in an Automated Teller Machine [A.T.M.]terminal belonging to  Zenith International Bank Plc and Ecobank Nigeria Plc and to their amazements there was not a single dime inside the machines.

On the 10^th of February,2016,this reporter spotted officials of First City Monument Bank Plc as they were combing the railway station axis of Ikeja,Lagos,Nigeria asthey hunted for new customers as against the past when they were comfortable staying back in their offices.

The same scenario was also spotted elsewhere around  Iyana Ipaja ,Lagos as First Bank Plc searched for a new customer clientele .

An impeccable source who was a contractor at Skyebank Plc before now said he was no longer getting any new contractual jobs since the advent of the present regime in Nigeria.

His Words:”Things are really tight and  I learnt that Skye Bank sacked workers in November,2015 and now they are thinking of sacking again”

“I learnt that there is a lot of job cuts going on at the moment in the financial services sector ,on Monday ,8^th February ,2016 ,this reporter scanned the inner pages of The Punch Newspapers  and they had less than 20 pages of advertising thus showing the level of stress and strains businesses are going through at the moment”

In a related issue,this reporter has also witnessed first -hand how there has been poor or epileptic electricity power supply for up to a month now in the metropolitan city of Lagos.

Sources claim that a place like Ogba,Ifako Ijaiye and Agege arwe affected due to a high tension pole which got hit by a car ,some others claim that around this period of the year there was always cases of low water level at the Kainji Hydro  electricity Dam in New Bussa ,Niger State.

Several sources are also not very pleased with the decision of the Federal Government in partnership with its power sector stakeholders who have jerked up the tariffs  in the sector but have not improved upon the quality of electricity being consumed by the consumers.

In a related issue,The News Office Desk of Paedia Express Multimedia in Lagos ,Nigeria has also learnt on the 30^th of March,2016,that famous celebrity journal: National Encomium was not on the vendor stands due to the inability of the publisher to raise the cash to buy news prints.

Just last month ,there was a resignation of a key editor at the Hallmark Newspapers  and a mass sack due to  the inability of the publisher to raise cash to run his operations the brand was said to have being off the news stand for two to three weeks before it returned.

The Ogun State chapter of the Independent Petroleum Marketers of Nigeria[ I.P.M.A.N]has since declared that it will be difficult for the present Buhari regime to restrict prices per litre of petroleum to N40.

, April 1 (Reuters) - Nigerian overnight interbank lending rates fell more than half on Friday to around 5 percent from last week's 13 percent after the central bank injected fresh liquidity into the system, traders said.
The central bank retired about 179 billion naira ($900.40 million) in matured treasury bills through open market operations (OMO) on Thursday.
On Wednesday the bank refunded about 500 billion naira in unused balance of cash deposited by commercial lenders for forex purchases, swelling liquidity in the market and forcing down cost of borrowing among banks.
Overnight placement rose sharply last week to around 20 percent after the central bank recalled some 400 billion naira from the banking system to meet a new cash reserves ratio (CRR) on deposits.
The market closed at 13 percent last week after cash payments from international oil companies operating in Africa's largest crude producer under a joint venture agreement hit the system.
Nigeria's central bank raised its benchmark interest rate from 11 to 12 percent last week, and the cash reserve ratio for commercial banks to 22.5 percent from 20 percent, to try to curb an increase in inflation, leading to fears of higher interest rates.
The total commercial lenders' credit balance with the central bank rose to 564.35 billion naira, up from 320.9 billion naira last week Thursday, traders said.
Traders said the central bank floated 50 billion naira in 209-day OMO bills on Friday, but was yet to release the auction results.
"We expect to see interbank rate inching up slightly next week as banks make provisions for foreign exchange purchases and possible sales of more OMO bills by the central bank," one dealer said.
The interbank rate reflects the level of naira cash liquidity in the banking system.
($1 = 198.8 naira)