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Ivory Coast's cocoa regulator is seeking to sell around 100,000 tonnes of cocoa held by domestic traders who had bought the beans from farmers but lack access to the international export market, industry sources have said.

The Cocoa and Coffee Council (CCC) regulator is offering the beans with a discount of around 200 British pounds ($280.40) to 250 pounds per tonne, but buyers are demanding bigger discounts because of a supply glut. A bumper crop and weak global demand caused by the coronavirus crisis, coupled with the introduction of a premium for farmers this year, has left hundreds of thousands of tonnes of unsold beans in warehouses in the world's top grower.

A director of an international cocoa export company said: "There are around 100,000 tonnes of cocoa held by small Ivorian exporters that the CCC is trying to sell, but the problem is that no-one is interested if the differential is not interesting." The director said international exporters were asking for a discount of around 350 pounds to 400 pounds per tonne because they had their own contracts to execute in a declining market.

Constance Kouame, an executive of the domestic grinders' association said that international exporters "want to make an extra margin on the backs of Ivorian exporters after removing the Living Income Differential premium - paid by exporters to the government to support farmers."

Two CCC sources, asking not to be named, confirmed the volumes and the discounts requested by exporters. The regulator is looking for buyers for the beans stored in the ports of San Pedro and Abidjan.

Domestic traders have urged the regulator to reform the international cocoa export sector to end the dominance of six multinationals.

A CCC source said: "Yes, we are thinking of finding a solution to help the locals have a bigger share in exports but for now, we are working to sell these 100,000 tonnes with the least possible discount." Three sources with the exporters' association said the regulator must find an urgent solution because most domestic operators had borrowed to fund purchases.

The director of a European cocoa export company said: "If the CCC does not find a solution quickly, this cocoa will be worth even less than what we are currently offering. The quality of the beans will become a problem."

By: Emeka Alex Akwaeze

The Federal Republic of Nigeria under the leadership of President Muhammadu Buhari is out to restore the glory of the giant of Africa through the revamping and restoring the glory of the Ajaokuta steel company, “ASCL”.

The company which has long been abandoned by the previous Government is set to receive prompt attention under the leadership of President Muhammadu Buhari.  The president who officially disclose this information to the nation during his nationwide broadcast to mark the 21 years of uninterrupted democracy in Nigeria, he stated that Ajaokuta steel company limited will be resuscitated to meet the nation's needs in the steel industry.

He maintained his administrations position in ensuring that the Ajaokuta steel industry is revamped and position in improving the nation’s economy through the steel sector.

It is believed the Ajaokuta steel company when fully in operation will have the capacitor of taking thousands of Nigerian youth who are currently unemployed off the street.

In the past several governments have attempted to resuscitate the industry but these could not work out as the arrangement was with a private company, the nation is fully hopeful that with the step taken by the administration of President Buhari, Nigerians will soon see the steel rolling out from the furnace in a short while.

The president also assured that the mining sector are not left out in this drive as effort are all geared in harnessing the full potentials of our natural mineral resources through providing enabling environment for potential investors in these sectors.

 

Niger's President Mahamadou Issoufou has been announced the 2020 winner of the $5m (£3.6m) Ibrahim prize for African leadership.

Mr Issoufou has served two five-year terms as president from 2011 to 2020. He is set to be succeeded by former interior minister, Mohamed Bazoum, who won the presidential election last month. The prize committee praised the Nigerien president's leadership after inheriting one of the world’s poorest economies.

It said that he fostered economic growth, shown unwavering commitment to regional stability and to the constitution, and championed African democracy. Mr Issoufou is the sixth recipient of the Ibrahim Prize.

He has tweeted that the prize honours all Nigerien people. "I consider this award an encouragement to continue to think and act in such a way that promotes democratic values and good governance, not only in Niger, but in Africa and around the world," he added.

Born on July 16th, 1966, to the family of Muhammed Kolo, Borno State, North Eastern Nigeria, Hajiya Jamila Muhammed Kolo, a mother of 5 and a grand mother of two is a quintessential business woman and an activist.

We caught up with Jamila Muhammed Kolo in her house in Gwarimpa, Abuja where she took us on a journey down memory lane.

“Life for me as a child was sweet and interesting.

“Growing up in a large, polygamous family of 27 kids and three wives, my father was very strict and religious. He was a very quiet man.

“I remember that my father can always be found with his face in a book. Looking back now, I recall that my father never used corporal punishment on us but yet we feared him a lot.

“He was softly spoken but always seemed to put the fear of God into us. Both my parents were educated and are civil servants.

“Education was very important to them and from a young age, I was made to believe, as my dad would put it, that education is the greatest asset you can possess, one you can carry everywhere with you and yet cannot be stolen from you.

Jamila Muhammed Kolo had her primary and secondary school education in Maiduguri. She went on to obtain a Bachelor of Arts degree in French Language from the University of Maiduguri.

Jamila also has a postgraduate diploma in Education and an MBA, both from ABU Zaria.

Read the full story in the July – September edition of Phoenix Nigeria

“Coventry and Warwickshire Partnership NHS Trust are enjoying learning more about the Nursing Degree Apprenticeship for their staff.”

The National Leader of the All Progressives Congress (APC) Asiwaju Bola Tinubu, has been described as the best candidate to succeed President Muhammadu Buhari, in 2003. The former Minister of State for Works and Chairman of Southwest Agenda 23 (SWAGA 23) Senator Dayo Adeyeye, stated this on Sunday, when the group paid a courtesy visit to the Palace of the Akarigbo and Paramount Ruler of Remoland, Oba Babatunde Ajayi.

The group paid similar visit to the Asoludero Court, Sagamu residence of the former governor in Ogun state, Gbenga Daniel. Adeyeye, who said the political support group was in the Akarigbo’s Palace to seek his royal blessing towards the official inauguration of the group in Ogun, noted that Tinubu remained the best shot from the south for presidency come 2023.

Accompanied on the visit by Senators Gbenga Obadara, Soji Akanbi, former Commissioner for Information in Oyo State, Bosun Oladele, secretary of the group, the immediate past Speaker of the Ogun State House of Assembly, Suraj Adekunbi, former House of Reps member from Ogun state, Ishiaq Abiodun Akinlade and host of other APC stalwarts across the southwest states, Adeyeye explained the group was formed to garner support for Tinubu’s presidential ambition, not only in the southwest but throughout the country.

According to him, if the ruling All Progressives Congress (APC) would follow agreement and zone presidency to the south in 2023, the APC national leader should be put forward and supported by the southeast and south-south. “Tinubu is a good product that doesn’t need any advertisement and he has contributed greatly to the growth and development of the nation. He is consummate democrat and progressive.

“We have three geo-political zones in the South, and all of them have the right to contest for the presidency. South West is interested to contest for the presidency in 2023. The person who can help us win this ticket is Asiwaju Bola Tinubu.

“He has done a lot for Nigerians irrespective of religion and tribe. He has built bridges across the country. We gathered together to start campaigning for him. If we can hold our house together, we will have the presidency back in the southwest, Adeyeye stated. He said the group which had earlier been inaugurated in Oyo and Osun states, will be launched in Ogun, adding ” SWAGA 23 will also be inuagurated in Kogi and Akwa Ibom states soon”.

Responding, Oba Ajayi pledged his support for the group and offered prayers for the success of Tinubu’s presidential aspiration in 2023. According to him, the entire Remoland will key into the project of ensuring a true and patriotic Nigerian in the calibre of Tinubu to succeed Buhari in 2023.

On his part, former governor Daniel, noted that for the southwest to move forward as one, there should be unity of purpose. He advised SWAGA 23 not to lose focus and mobilise support beyond the southwest, charging the group to collaborate with similar groups in order to actualise its ambition.

Daniel further urged the group to be strategic in propagating Tinubu, who according to him has the capacity to lead Nigeria.

Part of Britain's new superrich, Nigerian socialites, Cuppy and Temi Otedola, are from a family worth some £650m. But, as bright young thing,they want to be successful in their own right.They are the daughters of energy tycoon Femi Otedola and, despite their determination to go-it-alone,they know that their father’ssupport will help to fund their ambitions.The girls, who both received private-education, enjoy jet-set lifestyles, don't want to live offtheir father's success and want to establish careers; with elder sister,Cuppy, 23, wanting to be a DJ while19-year-old Temi is an aspiring fashion blogger.

Heiresses to a billion dollar fortune, they are well-known in their Nigerian homeland, but, as daughters of one of Africa's richest men they are not content they do not want to be rich and famous in his shadow. Instead, they are determined to work hard to make names for themselves in their own right. In 2015 Femi was listed as the 16 the richest man in Africa by Forbes and has million pound properties in New York, Dubai, London, Abuja and Lagos, with his wealth enabling his daughters to attend expensive private schools in England,have the very best designer wardrobes and be waited on by ten members of staff at all times.

As well as jet-setting between the opulent family properties around the world, they also enjoy spending timeon their father's £7million yacht, have designer wardrobes and throw birthday parties that cost more than a fleet of supercars Cuppy, with a degree in business and French, from the University of London, is keen to be famous in her own right as akeen to be famous in her own right as a DJ and has been securing gigs around the world at venues including Privé, Jalouse, District and Funky Buddha.She says: “People say that I’ve only managed to get these gigs because of my father, but it doesn't bother me as much as it probably did.

I love what I do.”One of her biggest gigs was when she played at the inauguration of Nigeria's President Muhammadu Buhari.“I think I am a great DJ,” Cuppy says. “I have to deal with criticism from those who think I only had the opportunities in my career so far due to my father'sconnections and purse strings, but this doesn't concern me anymore. Now I only worry that I am not going to make the impact I want to make.''Younger sister, Temi, feels the same as she tries to establish a name for herself in the fashion world.She set up her own style blog; JTO Fashion, which has 22,000 followers on Instagram as she shares news on the latest style must-haves with her fans- many of whom are Nigerian - as she travels between the fashion capitals of Europe and shops in Dubai and London.Europe and shops in Dubai and London.She has a team of professionals to help her on her photo shoots taking pictures and filming her vlogs and has even hired top fashion photographers to take some of her pictures.Admitting that she would not have been able to establish her blog without her father's financial support, Temi, who is studying for a degree in art history at University College London, says she sees the help he has given her so far as a loan she intends to repay.

She has also managed to hone her fashion credentials with an internship at Oscar de la Renta on Mount Street.Both of the sisters love staying in London which is why they were filme dfor a Channel 4 documentary which lifts the lid on the spending habits of Nigerian billionaires.Both Cuppy and Temi say they want tobe role models to young women in their home country and inspire them to work hard to achieve their goals.

 

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