The National Economic Council (NEC) has inaugurated the sub-national ease of doing business report.
The inauguration was performed at the virtual NEC presided over by Vice President Yemi Osinbajo on Thursday in Abuja.
Mrs Jumoke Oduwole, Special Adviser to the President on Ease of Doing Business, briefed State House correspondents after the virtual NEC anchored from the Presidential Villa.
“It is a pleasure to be briefing you today on the launch of the sub-national Ease of Doing Business report; it is been long awaited; the report was launched at the NEC today.
“And basically, this is a survey and you will recall that PEBEC has been on a nationwide tour since 2019 called iteration; where we met with medium-size enterprises and got a lot of anecdotal information.
“So, we decided to carry out an empirical survey; it was carried out by KPMG; the methodology framework had earlier being approved by NEC as far back as 2018.
“We have four homegrown indicator areas on which the survey is based: Infrastructure and security, transparency and access to information, the regulatory environment and skills and labour readiness in each state and the FCT.’’
According to her, the objective of the report is to provide a status report of the state’s business climate and to provide a baseline on the business climate of each state.
She said that it was on the basis of the report that the Ease of Doing Business agenda at the sub-national level was built.
Oduwole said it was a coordinated agenda status and to showcase stories of SMEs across regions and states across the country as there were successes and challenges.
“We will showcase some of those; and then, it serves as an information resource to businesses and investors alike.
“If you want to move your business from one part of the country to another part of the country, you want to know what people are available in terms of employability and this report will give you a fair idea.
“You want to know transportation cost; electricity provisions, supply; this report will give you a fair idea.
“It is also going to help states as they prepare for their sub-national World Bank Ease of Doing Business ranking which is done once every four years.’’
She said that the last edition was in 2018; hence the states were ready and collaborated with PEBEC.
The special adviser said that some of the key opportunities for change that were identified had been collated.
She said that the council would work with state governments starting from April to create implementation roadmaps that would be implemented.
“The governors have unanimously accepted the findings of the report and the reform states’ reform champion; each state has a reform champion and many states have already inaugurated their Ease of Doing Business Councils.
“In case of Nasarawa, it is chaired by the governor, himself; some other states are chaired by the deputy governor; usually at that high level.
“So, the Ease of Doing Business Councils report to the states’ executive councils and they implement the report just like PEBEC and FEC; so, the system is replicated across the country,’’ she said.
The Managing Director of Shell Petroleum Development Company (SPDC) of Nigeria, Mr. Osagie Okunbor has called for a multilateral approach towards an efficient oil and gas sector in Nigeria.
Okunbor made the call on Thursday in Abuja, at the “Society of Petroleum Engineers, Oloibiri Lecture Series and Energy Forum” organised by the Society of Petroleum Engineers (SPE).
The Shell MD represented by Mr Sam Ezugworie, General Manager, Development, Shell, said there was a need for partnership between the government, industry and academia for an efficient oil sector.
According to Okunbor, the oil and gas sector also needs to focus on human capital development and embrace digital transformation to heighten production and minimise intruders’ interference.
“For us to achieve portfolio optimisation, some strategic imperative needs to begin to get into the mix because we need to look at our environmental factors and energy kind.
“The high margin of our operations will have to be replaced by low cost observations. We will then have to look at our physical considerations.
“The physical considerations are something that is at the deep of being actualized through the PIB and having a favourable PIB is also foundational and key to achieving professional excellence.
“If you look at professional excellence in action, I will like to reference the business transformation and operational excellence world summit that carried out research across 86 industry sessions all over the world.
“It might be interesting to see that on the top eight leading companies in operational excellence across the world, not even one of them is in the oil and gas sector.
“This calls for every one of us to pause and begin to reflect; if you are not in the top eight, are you in the game at all? We are not,” Okunbor said.
The Shell MD noted that the likes of Amazon, Toyota, Google and Apple now top leading companies in the world going by their balance sheets.
This, he said, was a clear indication that oil and gas could go into extinction if nothing urgent was done.
Okunbor added that the industry players must have organizational cultural shift from what used to be obtained, so as to make the oil sector one of the top business sectors in the world.
He said “We are used to doing some things in the past thinking that what brought us to point A is capable of bringing us to point B.
“The world has taught us a lesson, either from COVID, from the low oil price, and from all the responses that the world economy has put in place, that indeed what we did is insufficient.
“One may also be thinking that investors will not be able to put money in our business anymore rather, they will go to the cloud computing or something else.
“So, we need to begin to do things differently and if you ask me, what do we need to think about, we need to benchmark ourselves against other parts of the industry.
“We have to shift from looking at ourselves as being oil and gas and a special people because we are no longer special.
“We need to think and reflect that the whole world and businessmen and women all over the world, will like to put their money where they will get the best reward.
“The first and the visible thing we need to do is leadership action; every leader in the industry will have to challenge him or herself to a point where we begin to reject our current position and say that we need to do things differently.”
The Nigerian equities market traded on a bullish note amid renewed interest in Banking shares. At the close of market proceedings today, the All-Share Index advanced by 54bps to close at 38,914.84. Similarly, the market capitalization added N109.20bn to settle at N20.36tn. Consequently, the year-to-date performance moderated to -3.37%.
Across sectors, performance was mixed as 2 indices advanced while 3 declined. The Banking and the Industrial indices went up by 4.40% and 0.16% respectively on the back of bargain hunting in the shares of ZENITH BANK (7.32%), GUARANTY (6.43%) and WAPCO (2.73%).
On the flip side, bearish sentiments dominated the Insurance (-0.78%), Oil & Gas (-0.13%) and Consumer Goods (-0.24%) indices following losses in WAPIC (-9.09%), OANDO (-3.04%) and HONYFLOUR (-5.60%)
Investor sentiment as measured by the market breath expands to 1.83x arising from 22 advancers and 12 decliners. A significant improvement was noted in the activity level as both volume and value of transactions surged by 7.27x and 1.18x respectively. A total of 1.47 billion units of shares worth N5.86bn was traded in 4,040 deals.
Fixed Income Market
The yields in the bond market moved higher on the back of selloffs across shorter maturities. Notably, the yields on the FGN-MAR-2027 and MAR-2034 advanced by 2bps and 7bps respectively.
At the NTB market, the yields on the 91-day advanced by 132bps to 2.26%. The yields on the 184-day and 364-day maturities however remain stable at 3.60% and 4.16%
Market Snapshot
Bulls Staged a Comeback Today at the Equities Market…ASI Gained 54bps
Local Bond Yields Maintain Upward Trajectory
US Stocks Retreat Amid Treasury Yields Angst
Oil Extends Losing Streak with Markets Shaken by Inflation Risk
Naira was stable against the USD at the Parallel Market to Close at N485/$
March 18, 2021: Union Bank has released its audited financial statements for the year ended 31st December 2020. The Bank’s results for the period show sustained growth in key income lines and significantly improved fundamentals notwithstanding a constrained operating environment largely due to the impact of the Covid-19 pandemic.
Union Bank’s investments in technology and building a progressive work culture over the past eight years enabled a swift response to the pandemic that allowed our workforce to transition to remote working while maintaining the productivity required to deliver this strong set of results in 2020.
Bank FinancialHighlights:
Profit before tax: up 2.8% to N25.4bn (N24.7bn in FY 2019).
Profit After-tax: up 1.2% to N24.7bn (N24.4bn in FY 2019).
Gross earnings: down 1.9% to N156.9bn (N159.9bn in FY 2019).
Net operating income after impairments: up 8.3% to N103.4bn (N95.5bn in FY 2019).
Net interest income before impairment: up 10.1% to N56.9bn (N51.7bn in FY 2019) due to reduced interest expenses.
Non-interest income: up 1.6% to N44bn (N43.3bn in 2019) driven by growth in net trading income as well as revaluation gains.
Operating expenses: up 10% to N78bn (N70.8bn in FY 2019) due to an increase in regulatory and technology expenses.
Gross loans: up 23.8% to N736.7bn (N595.3bn in FY 2019) driven by targeted lending to key sectors of the economy.
Customer deposits: up 27.6% to N1,131.1bn (N886.3bn in FY 2019) reflecting our agility in delivering a compelling range of products to our customers during the pandemic and increased adoption of our digital channels.
Non-performing loans ratio: down to 4% from 5.8% (FY 2019) driven by a disciplined recoveries strategy (N7.2bn in 2020), a more robust loan book and key restructurings to support customers during the pandemic.
Key OperationalHighlights:
Channels: Active users on our digital platforms grew 1.3x. During the year, we added new features such as end-to-end account opening and enhanced card services includinghome delivery of cards boosting revenues from digital channels by 1.5x.
Agent Network Expansion: We expanded our UnionDirect network to over 18,000, representing a 6x increase. Transaction volume and value grew 10x and 12x respectively delivering 14x revenue growth.
Enhanced Retail and Digital Offerings: We relaunched UnionVibe, UnionLegendandUnionInfinity, a suite of products targeting the key youth and teen demographic; and disbursed over N9.4bn loans with new credit propositions.
Systems Upgrade – We upgraded our core systems to support our growth aspirations while strengthening the performance, reliability, security and processing capacity of our platforms. With this upgrade, we are now in a position to process at least 10x the volume of transactions for 2020.
Funding: We secured both local and foreign currency funding to support growth across our priority areas. Union Bank raised:
―₦35bn commercial paper issuance. The 180 and 270-day notes were oversubscribed, reaffirming market confidence in our brand
―$200m 10-year funding from U.S International Development Finance Corporation (DFC)
―$75m Pandemic Trade Mitigation funding from Afrexim
―$30m working capital funding from IFC
―Employees: The Bank was the first in the industry to implement remote working for its employees in March 2020. With over 70% of our workforce operating remotely at the height of the pandemic, we introduced resources to maintain and enhance the physical and mental health of our colleagues.
―Customers: We deepened our engagement via digital platforms and reinforced our channels to enable self-service. Supported by the Central Bank, we also offered restructuring of loan terms for businesses affected by the outbreak of Covid-19 in key sectors of the economy. At our branches, heightened hygiene & social distancing guidelines were put in place.
―Community: We donated over ₦350m towards the fight against Covid-19. These included donations to the Private Sector Coalition against Covid-19 (CACOVID); 54gene to support testing and research, working with the Nigeria Centre for Disease Control (NCDC); and the Lagos State COVID-19 Emergency Food Response programme to support families affected by the pandemic.
―Business continuity: Operationally, the bank adapted as lockdowns and movement restrictions evolved during the year. We designed a working model that ensured operational efficiency while maintaining adequate contingencies that guaranteed business continuity should newly identify operational risks crystallize.
―Managing liquidity and credit risks: We focused on raising long term liabilities in local and foreign currencies. We also deepened our focus on essential sectors during the pandemic and enhanced portfolio diversity. With the ongoing review of our credit portfolio and stress testing, we focused on
COVID-19 Response: The impact of COVID-19 in 2020 cannot be understated. In response, the Bank constituted a CEO-led task force in February and adopted a proactive approach to ensure the health and safety of key stakeholders and to mitigate the negative impact on our business.
UBUK Update: In January 2020, Union Bank announced its divestment from its UK subsidiary to focus solely on Nigeria and the distinct long-term opportunities that the market presents. In Q4 2020, we obtained a “no-objection” clearance by the Central Bank of Nigeria and the divestment is ongoing.
Dividend Payment: For the second year running, the Bank is proposing a dividend payment and returning value to shareholders. Union Bank’s ability to deliver a strong performance in the face of an economically debilitating pandemic speaks to the resilience and long-term fundamentals of the Bank. Subject to shareholders’ approval, a dividend of 25 kobo per 50 kobo share is being proposed.
Management Update: In December 2020, the Bank’s Chief Executive Officer, Emeka Emuwa announced his retirement effective March 31, 2021. Following a successful search process, the Board has appointed Emeka Okonkwo, an Executive Director currently leading the Bank’s Corporate Banking business, to succeed him. Emeka Emuwa served as CEO for eight years and led the Bank’s transformation and repositioning as a key player in the Nigerian financial space.
Promoting asset quality with solid risk management structures while leveraging CBN’s forbearance opportunities.
Brand & Citizenship: Through our initiatives, we impacted over 3 million people in 2020. We continued our support for the education sector impacting teachers, students and parents, through our Edu360 platform; deepened our investments in women/girl empowerment initiatives via vocational, digital and leadership training; continued our social innovation drive, and supported community development via the “gift of water” and supply of food to the underprivileged.
Key partnerships in this area in 2020 include MamaMoni, Pearls Africa, Awarri, LEAP Africa, Cece Yara Foundation, Junior Achievement Nigeria, GiveFood.ng Initiative, etc.
Commenting on the results, Emeka Emuwa, CEO said:
“The Bank has delivered a strong set of results notwithstanding the impact of COVID-19 onour operations and the wider economy, enabling the Board of Directors to continue to returnvalue to shareholders with a proposed dividend payment for the second year in a row. Thisdemonstrates the strong foundations we have built, as we continue to deliver against ourtarget of becoming a leading financial institution inNigeria.
For the full year, we grew across key income lines. Net income after impairments grew 8.3%from ₦95.5bn to ₦103.4bn and translated into 2.8% growth in Profit Before Tax to ₦25.4bnfrom₦24.7bn.
The core of this performance is driven by the growth in our loan book, with a 23.8% increase ingross loans, to ₦736.7bn from ₦595.3bn in2019.
The pandemic accelerated trends in customer behaviourand we have seen a rapid increase indigital adoption with a 38% YOY increase in active users on our UnionMobile channel withtotal active users now at 2.9 million. Our UnionOne and Union360 platforms for businessesgrew by 11% from 25,000 users to 27,700 users. 94% of transactions in the Bank are nowdone digitally, up from 89% in2019.
We also aggressively grew UnionDirect (our agent network) by 6x from 3,100 to 18,100 inline with our focus on our retail business. With our investments yielding positive results, weare well-positioned as a strong leader in the retail and digitalspace.
In 2021, the Bank will focus on enhancing revenues and shareholder value by revving upcustomer acquisition, engagement and transactions through seamless customerjourneys and an optimized service deliveryplatform.
As I retire following eight years of rebuilding and repositioning this storied institution, I amconvinced that with the excellent management team and a clear strategy in place, UnionBank is well-positioned to continue to compete and deliver value to itsshareholders.
Speaking on the FY 2020 numbers, Chief Financial Officer, Joe Mbulu said:
“We are pleased with both our top and bottom-line performance in 2020, in light of the impactof the pandemic and economic challenges. Significant inflationary pressures and thetranslation of currency depreciation drove growth in our cost base, however, we maintainedstrong control, limiting operating expense increase to 10% (₦77.9bn from ₦70.8bn), wellbelow the rate of inflation. Consequently, we saw a marginal increase in our cost to incomeratio to 75.4% from74.1%.
Our customer deposits hit a milestone during the year, crossing the ₦1tr mark to ₦1,131.1bnfrom ₦886.3bn in FY 2019, an increase of 27.1%. Low-cost deposits were up by 17%,constituting 68% of total deposits helping to push the cost of funds down by1.4%.
We continued to proactively manage our growing risk asset portfolio and recorded betterasset quality, with our NPL ratio improving from 5.8% to 4.0%. This achievement, combinedwith solid capital adequacy at 17.5% and continued top-line growth, provides the platformfor strong growth going forward.
We will continue to grow our loan portfolio in 2021, which we expect to be a significant driverof growth, combined with our value chain synergies across our business which will drivecustomer and transaction growth during the year andbeyond.
Our UBUK subsidiary remains classified as “Available for Sale” as the sale process continuesalbeit delayed due to the pandemic-induced lockdowns”
Ikeja Electric will continue to condemn attacks on its employees in strong terms. While we understand that sentiments regarding utility services can be quite emotive, we maintain that wanton attacks on our staff are completely irrational, irresponsible and unproductive, especially where Ikeja Electric has provided multiple channels through which our customers can lodge formal complaints with respect to our services.
Where responses from these channels are deemed unsatisfactory, the Nigerian Electricity Regulatory Commission has also set up a robust forum office for the redress of customer complaints.
In the interest of the safety of our employees and for a harmonious relationship with our customers, Ikeja Electric will continue the deliberate engagement of all stakeholders in flashpoint areas to find ways to amicably resolve all pertinent issues of concern to its customers and communities.
However, where these attacks persist, Ikeja Electric Plc, in line with her obligation to provide service under a conducive atmosphere to its customers, will as a matter of course, continue to escalate such matters to law enforcement agencies and will promptly withdraw its services from communities and customers that prove too hostile to operate in.
We wish to therefore urge all stakeholders, community leaders, leaders of youth groups and all persons of interest to remain mindful of these matters and adopt a more civil approach to engagements as all parties are deserving of reciprocal respect and regard as espoused by all laws.
While there may be concerns and disputes arising from time to time, we remain committed to finding long-lasting peaceful resolutions in the equitable interests of all parties.
The FGN Roads Sukuk Company 1 Plc’s N162,557,000,000 7 – Year 11.200%, Ijarah Sukuk Bond due 2027 were listed on The Nigerian Stock Exchange today, Thursday, 18 March 2021.
Guaranty Trust Bank (GTBank) Plc has released its Audited Financial Results for the year ended December 31, 2020, to the Nigerian and London Stock Exchanges.
A review of the result by Brand Spur Nigeria shows improved performance across all key financial metrics in the face of the unprecedented challenges brought on by the COVID-19 pandemic, reflecting the quality of past decisions and reaffirming its position as one of the best managed financial institutions in Africa.
The Group reported Profit before tax of ₦238.1billion, representing a growth of 2.8% over ₦231.7billion recorded in the corresponding year ended December 2019. The Group’s Loanbook (Net) grew by 10.7% from ₦1.502trillion recorded as of December 2019 to ₦1.663trillion in December 2020, while Customers’ deposits increased by 38.6% from ₦2.533trillion in December 2019 to ₦3.509trillion in December 2020.
Guaranty Trust Bank’s Balance sheet remained well structured, diversified and resilient with Total assets and Shareholders’ Funds closing at ₦4.945trillion and ₦814.4billion respectively.
Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 21.9%, while Asset quality was sustained as NPL ratio and Cost of Risk (COR) closed at 6.4% (Bank: 5.9%) and 1.2% (Bank: 1.0%) in December 2020 from 6.5% (Bank: 6.2%) and 0.3% (Bank: 0.2%) in December 2019 respectively.
Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said;
“2020 was arguably the most challenging year that the world has faced in decades. In such unprecedented times, we sought to live out the full extent of our values; safeguarding lives and livelihoods for our people, our customers and across the communities where we operate.
We were on solid footing going into 2020; the strength, scale and liquidity of our balance sheet, coupled with the quality of our past decisions and the efficacy of our digital-first customer-centric strategy gave us the resilience and flexibility to navigate the economic shocks and market volatility that dominated the year.”
He further stated that;
“Amidst the many challenges that persist, we remain ardent believers in Africa’s growth potential. Our world is increasingly digital, and we see it opening new and exciting opportunities for empowering people and uplifting our communities.
With our commitment to deepening customer relationships and intense focus on delivering innovative financial solutions, we enter 2021 well-positioned to lead this new world.”
Guaranty Trust Bank plc continues to post the best metrics in the Nigerian Banking industry in terms of all Financial Ratios i.e. Post-Tax Return on Equity (ROAE) of 26.8%, Post-Tax Return on Assets (ROAA) of 4.6%, Full Impact Capital Adequacy Ratio (CAR) of 21.9% and Cost to Income ratio of 38.2%.
Renowned for its forward-thinking approach to financial services and customer engagement, GTBank was recently ranked Africa’s Most Admired Finance Brand in the 10th-anniversary rankings of Brand Africa 100: Africa’s Best Brands, the pre-eminent survey and ranking of the Top 100 admired brands in Africa.
The Bank was also awarded the Best Bank in Nigeria by Euromoney Magazine for a record-extending tenth time and the Euromoney Excellence in Leadership Africa Award for its swift reaction in responding to the Covid-19 crisis and for addressing the impact of the pandemic on its customers and communities.
The year 2020 provided little respite for Nigerian consumers. At the start of the year, the Federal government implemented a VAT hike of 50.0% to 7.5% in February 2020.
Shortly after, the Covid-19 pandemic hit, leading to job losses and wage cuts. Following the Covid-19 crisis, the CBN devalued the NAFEX exchange rate twice, at c.12.0%, and adjusted the official rate by c.23.0%. Furthermore, PMS price was revised upwards by
c.12.0% and electricity tariffs nearly doubled on average.
Recently, the National Bureau of Statistics (NBS) released unemployment data for Q4 2020, which revealed a surge to a record high of 33.3%. The NBS also reported February 2021 inflation data showing that food inflation rose to a 16-year high of 21.8%. To highlight the severity, data from NBS shows that Nigerians spend 56.7% of their income on food. With a misery index of 50.6%, it implies worsened economic woes. These pressures continue to
mount amidst stagnant and, in many cases, declining nominal and real wage rates.
Unsurprisingly, economic growth remains uninspiring, given household consumption makes up c.60.0% GDP.
Looking ahead, we see little respite for Nigerian consumers. While we believe that increased economic activity will marginally improve household income, cost pressures on household consumer baskets will dampen any growth. A further electricity tariff hike is likely by Jun2021 and despite the resistance to the PMS price hike, we believe a hike is inevitable in the mid to long term.
Also, food prices continue to soar as FX challenges remain. Overall, in the short-term, the outlook looks grim for the Nigerian consumer; however, sometimes it is darkest before the dawn.
A new public opinion poll conducted by NOIPolls has revealed that 61 percent of Nigerians nationwide think that there is discrimination against women in the country.
Additionally, analysis of respondents by geographical location shows that the South-South zone at 73 percent had the highest percentage of Nigerians that stated there is gender discrimination against women in Nigeria, while North-Central at 53 percent accounted for the lowest percentage.
Furthermore, the survey showed that in terms of gender discrimination in Politics, Family, Workplace and Education there is a huge gender disparity in all areas. With the exception of education where 60 percent of Nigerians believe that women in Nigeria enjoy better inclusion.
More findings from the poll clearly revealed that about 7 in 10 (73 percent) Nigerians nationwide believe that women in Nigeria face discrimination in getting into elected positions in governance or politics. Additionally, the analysis also showed that women face discrimination in getting into professional leadership positions.
Gender Equality Poll For March 2021-Brand Spur Nigeria
More so, the top three suggestions by Nigerians on how gender inequality can be reduced were found to be: “enforce policies that will support gender equality” (36 percent), “women should have their own political party” (14 percent), and “stop the discrimination” (9 percent). Also, the poll showed that Nigerians perceived poor effort on the part of the Federal Government in addressing issues related to women in Nigeria; especially in the area of ‘Female Genital Mutilation, ‘Domestic Violence, ‘Sexual Harassment and ‘Early Child Marriage’.
Finally, the poll disclosed that religion plays a huge in gender discrimination in Nigeria as 61 percent of Nigerians nationwide asserted. Moreover, analysis across the two major geo-divider shows that more respondents who reside in the Northern region think that religion plays a huge role in gender discrimination than the Southern counterpart; averaging 65 percent and 56 percent respectively across the region. The poll having gauged the perception of Nigerians on gender equality in Nigeria, specific sector-focused inclusion of women, the discrimination of women in getting into elected and professional leadership positions, suggestions on improving gender parity, government efforts in addressing gender-related issues as well as the role of religion in gender discrimination. Having brought this to the fore, it is imperative that all the ministry of women affairs and social development, policymakers, civil society organizations and all relevant stakeholders synergize to addresses the issue raised by this poll. Thereby ultimately improving gender parity in the country. These are the key highlights from the gender equality poll conducted in the week commencing 1st March 2021.
Survey Finding
Overall, the survey revealed that only 39 percent of Nigerians nationwide actually think that there is equality in Nigeria. This implies that only about 4 in 10 (39 percent) Nigerians nationwide think that there is gender parity in the country. Additionally, the analysis of respondents in this category by gender, geopolitical zones and aged- groups clearly shows that there is a high level of gender disparity in Nigeria.
On the contrary, 61 percent of Nigerians nationwide do not think that there is gender parity in the Nigeria. Hence, the outlook here is that 6 1n 10 (61 percent) Nigeria nationwide stated that they do not believe that there is gender parity in a Nigeria. A quick analysis of respondent who do not think that there is gender parity in the country across geopolitical zones revealed that the south- south zone at 72 percent accounted for the highest proportion of Nigerians nationwide who do not think that parity in the nation, while North-central zone at 53 percent accounted for the region with the lowest proportion of Nigerians in this category.
LEVELS OF AGREEMENT ON GENDER EQUALITY
POLITICS
Concerning the level of gender inclusiveness across work place and fields of human endeavour; the analysis of results shows that in terms of political inclusion, only 32 percent (6 + 26) of Nigerians nationwide agreed that there is gender equality across the political space in Nigeria. On the contrary, analysis revealed that 63 percent (43 + 20) percent of Nigerians nationwide disagreed that women are actually given equal opportunity as men in the area of politics in Nigeria. Clearly, 63 percent of Nigerians think that there is serious gender disparity when it comes to the involvement of women in politics in Nigeria. However, 5 percent of Nigerians nation were indifferent about the state of gender equality in politics.
FAMILY
More so, with regards to giving women equal opportunities as men in families across Nigeria, the analysis of survey results bares that 34 (29 + 5) percent of Nigerians nationwide agreed that women are currently being given equal opportunities as men across Nigerian families nationwide. On the contrary, 55 (41 + 14) percent of Nigerians nationwide disagreed. To them, women are not currently given the same opportunities as men in their respective families. Almost (6 in 10) Nigerians nationwide held the believe that women are currently not been giving equal opportunities as males in their families. Interestingly, about 12 percent of Nigerians nationwide were indifferent about the current state of gender equality across Nigerian families.
WORK PLACE
Additionally, in terms workplace inclusion of women In Nigeria, the analysis of survey results bares that 48 ( 8 + 40 ) percent of Nigerians nationwide agreed that women are currently given equal opportunities as males across workplaces in Nigeria. Contrarily, 41 (32 + 9) percent of Nigerian Nationwide disagreed that women are currently been given equal opportunities as males across workplaces in the country.
EDUCATION
Consequently, the analysis of women inclusion in the area of Education revealed that 60 (43 + 17) percent of Nigerians nationwide agreed that women are currently been equal opportunities as males in Nigeria in the area of education. On the contrary, 34 (26 + 8) percent disagreed that women are currently been equal opportunities as males in Nigeria in the area of education. Also, analysis revealed that 7 percent of Nigerians nationwide were indifferent regarding the current state of education inclusion of in Nigeria.
DISCRIMNATION OF WOMEN IN GOVERNANCE AND POLITICAL LEDERSHIP POSITIONS
Subsequently, the survey sought to determine the opinion of Nigerians nationwide on the discrimination of women in governance or political ladership positions in Nigeria. Hence, the analysis of survey results revealed that 73 percent of Nigerians nationwide stated that women face discrimination in getting into governance or political leadership positions in Nigeria. Furthermore, the analysis of respondents in this category across gender, geopolitical zones and age – groups shows that at least 7 in 10 Nigerians nationwide agreed that women face discrimination in getting into elected postions in Nigeria.
On the contrary, 27 percent of Nigerians nationwide stated that women in Nigeria do not face face discrimination in getting into elected positions in Nigeria. This implies only about 3 in 10 ( 27 percent) Nigerians think that women find it easy to get into elected positions in the country.
DISCRIMINATION OF WOMEN IN GETTING INTO PROFESSIONAL LEADERSHIP POSITIONS
Furthermore, the survey sought determine the perception of Nigerians regarding the discrimination of women in getting professional leadership position across in country. Hence, the analysis of survey results showed that 68 percent of Nigerians nationwide stated that women face discrimination in getting professional leadership roles in the country. This implies that about 7 in 10 ( 68 percent) Nigerians nationwide believe that women do face discrimantion and difficulties in getting professional leadership positions in Nigeria.
On the contrary, the poll revealed that 32 percent of Nigerians nationwide do not believe that women face any kind of discrimination in getting into professinal leadership positions in Nigeria.
SUGGETIONS ON REDUCING GENDER INEQUALITY IN NIGERIA
The top three suggestions by Nigerians on how gender inequality can be reduced were found to be: “enforce policies that will support gender equality” (36 percent), “women should have their own political party” (14 percent), and “stop the discrimination” (9 percent).
FEDERAL GOVERNMENTS’ EFFORTS IN TACKLING SOME MAJOR GENDER ISSUES
In furtherance, the poll sought to determine the opinion of Nigerians regarding the effort of the government in addressing gender in the country.
FEMALE GENITAL MUTILATION (FGM)
Therefore, the analysis of results shows that only 40 (12 +28) percent of Nigerians nationwide stated that the federal government has to not an extent addressed the issues of FGM in Nigeria. On the contrary, 50 percent of Nigerians nationwide Nigerians nationwide believe that the government has addressed issues of FGM in the country to an extent, 10 percent of Nigerians nation are still indifferent concerning government efforts so far in addressing FGM in Nigeria.
DOMESTIC VIOLENCE
In relation to the federal governments’ efforts in addressing and curbing issues of domestic violence in the country, the analysis of results revealed that 43 (13 + 30) percent of Nigerians nationwide think that the federal government has to no extent addressed the issue of domestic violence in Nigeria. Also, analysis revealed that 46 (33 + 13) percent Nigerians nationwide think that the federal government has to an extent addressed the issue of domestic violence in Nigeria, while 11 percent of Nigerians nationwide were indifferent regarding federal government efforts in addressing the issue of domestic violence in Nigeria
SEXUAL HARASSMENT
Concerning the federal governments’ efforts in addressing and curbing issues of sexual harassment in the country, the analysis of results revealed that 44 (14 + 30) percent of Nigerians nationwide opined that the federal government has to no extent addressed the issue of sexual harassment in Nigeria. Also, analysis revealed that 46 (35 + 11) percent Nigerians nationwide think that the federal government has to an extent addressed the issue of sexual harassment in Nigeria. Interestingly, 10 percent of Nigerians nationwide were indifferent regarding federal government efforts in addressing the issue of sexual harassment in Nigeria
EARLY MARRIAGE
Regarding the federal governments’ efforts in addressing and curbing issues of early marriage in the country, the analysis of results revealed that 49 (31+ 18) percent of Nigerians nationwide opined that the federal government has to no extent addressed the issue of early marriage in Nigeria. Also, analysis revealed that 41 (31 + 10) percent Nigerians nationwide think that the federal government has to an extent addressed the issue of early marriage in Nigeria. Interestingly, 10 percent of Nigerians nationwide were indifferent regarding federal government efforts in addressing the issue of early marriage in Nigeria.
PERCEPTION ON THE ROLE OF RELIGION IN GENDER DISCRIMINATION IN NIGERIA
Finally, the survey sought to determine the opinion of Nigeria on the influence of religion gender discrimination in Nigeria. Hence, the analysis of survey results revealed that 61 percent of Nigerians nationwide opined that religion plays a role in gender discrimination in Nigeria. Additionally, analysis across the two major geo-divider shows that more respondents in the northern divide think that religion plays a huge role in gender discrimination than those in the southern divide; averaging 65 percent and 56 percent respectively across geopolitical zones.
CONCLUSION
The poll having gauged the perception of Nigerians on gender equality in Nigeria, specific sector focused inclusion of women, the discrimination of women in getting into elected and professional leadership positions, Suggestions on improving gender parity, government efforts in addressing gender related issues as well as the role of religion in gender discrimination. Results revealed that there is serious gender disparity in the country majorly fueled by religious beliefs. In terms of the sector focus inclusion of women, the analysis of results revealed that women Nigeria only enjoyed good inclusion in the educational sector, while other focus areas for this poll: family, politics and workplace showed a need for more representation and inclusion as there still a huge gender disparity in this area.
Furthermore, the poll also revealed a huge gender disparity in the area of women getting into elected and professional leadership positions and a perceived poor effort on the part of the federal government in addressing issues affecting women in the country. Having brought this to fore it is imperative that all the ministry of women affairs and social development, policy makers, civil society organizations and all relevant stakeholders synergize to addresses the issue raised by this poll. Thereby ultimately improving gender parity in the country.
Survey Method
The poll was conducted in the week commencing 1st March, 2021. It involved telephone interviews of a random nationwide sample. 1,000 randomly selected phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in the country, were interviewed. With a sample of this size, we can say with 95% confidence that the results obtained are statistically precise – within a range of plus or minus 4.65%.
NOIPolls Limited, is the No1 for country specific polling services in West Africa. We conduct periodic opinion polls and studies on various socio-economic and political issues in Nigeria. More information is available at www.noi-polls.com or download our mobile app NOIPolls on your smartphone.
Nestlé today announced the roll-out of chocolate made exclusively with the cocoa fruit, introducing Incoa, a 70% dark chocolate bar under its Les Recettes de L’Atelier brand.
The launch brings the cocoa pulp-sweetened chocolate to a wide audience across several countries. It will appear on shelves in retail in France and the Netherlands with other European markets to follow.
Incoa is made entirely from cocoa fruit, not adding any refined sugar. In 2019, Nestlé was the first to announce the development of this revolutionary approach and then launch it with KitKat in Japan.
Louise Barrett, Head of the Nestlé Confectionery Product Technology Center in York, said: “We are proud to be able to develop and produce a chocolate at-scale using only the cocoa fruit. This breakthrough innovation allows us to deliver great-tasting dark chocolate, while also integrating agricultural side-streams into our value chain, a key priority for our sustainability agenda.”
Nestlé leveraged its in-house chocolate expertise to develop a patented natural approach that allows it to extract the pulp and produce dark chocolate that captures the pulp’s intrinsic sweetness and texture. The unique approach enables the company to produce Incoa in high quantities with no compromise on taste, texture and quality.
The cocoa fruit contains cocoa beans and cocoa pulp. The pulp, which makes up around 10% of the fruit surrounds the beans and is soft, sweet and white in color. Some of the pulp is used in the fermentation of the cocoa beans after they are harvested, but a significant proportion is usually discarded. In some countries the pulp is commercialized as juice, or frozen and used as an ingredient in ice cream and other food products.
Alexander von Maillot, Head of Confectionery at Nestlé, said: “Incoa is an authentic, pure cocoa experience. People are looking for something that little bit different and more sustainable from their chocolate. The fact that Incoa is made from the cocoa fruit and nothing else means it cuts waste and brings additional value to the cocoa sector.”
The cocoa beans in Incoa are sourced in West Africa from Nestlé Cocoa Plan farms certified by Rainforest Alliance.
The cocoa pulp for Incoa is currently sourced from Brazil from farms that are part of the Nestlé Cocoa Plan and Nestlé is working on expanding the sourcing of the pulp across Cocoa Plan farms globally.
Nestlé is currently working with cocoa cooperatives and other partners in West Africa to test how cocoa pulp production could be commercialized there. That includes testing collection and further treatment of the pulp.
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