LEASING INDUSTRY TO EXPECT 30% GROWTH IN NIGERIA BY 2020

Agenyi-Isaac

The recent adoption of the lease system by Nigerians indicates a positive spark to leasing companies highlighting prospect as the industry encounters growth from 189,881,130 billion naira in 2006 to about 1.26 trillion naira in 2016 in terms of volume.

Isaac Agenyi, General Manager, Enterprise Asset Leasing Limited stated that, with the rate of awareness and the high cost of asset acquisition, Enterprise Asset Leasing is predicting a 30% growth rate in Nigeria by 2020. In the past, businesses traditionally spoke to the local Bank Manager and arranged for a business loan to purchase equipment. Restricted lending and restrictive lending practices in Banks have made leasing the financing method preferred by all types of small and medium sized enterprises (SMEs) these days.

Purchasing assets for your business can be expensive. But if your business is to grow and succeed, such purchases are a necessity.

Whether it’s purchasing new vehicle, trucks, new plant, office equipment, computers or even furniture, purchasing equipment for a business can have a major impact on cash-flow or credit lines.

Leasing rather than outright purchase of equipment for your business offers many advantages. Leasing is a flexible, cost effective method of financing business equipment with the obvious advantage that the assets capital value is not required up front.

If you have found that you require assets for your business but your bank simply will not lend you the money you need, then asset leasing could solve your problem.

Through leasing, you could get that new business asset and reserve your capital. Leasing allows you to conserve capital and pay for assets over time out of income with fixed monthly / quarterly / annual payments.

Asset leasing is used by a wide range of businesses, from sole traders to large PLCs.

Among the benefits of asset leasing are:

  • Working capital is not tied up in depreciating assets
  • Cash and credit lines are reserved for other uses
  • VAT on the cost of the equipment is not paid up front
  • Payments are fixed which means you can budget effectively
  • We can match your repayments to the life of the asset, thereby easing cash-flow
  • The cost of acquiring the asset can be spread to coincide with the timing of sales generated by your business
  • Lease costs are an allowable expense against Corporation Tax

As a world class organization, Enterprise Asset Leasing adopts only international best practices in its business operations. It has a robust yet efficient Risk Management and Internal Control system in place to ensure that all transactions are scrutinized and that all regulatory requirements are met before execution.

Their services include Lease Financing, Personal Loans, Treasury Services, Business Loans, Financial Advisory and Fleet Management.

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NOSAK GROUP – pioneering survival strategies for businesses in a recession through Learning and Development

igie_odozi

The current economic variables playing out within the Nigerian business hemisphere have forced organisations to transition in order to survive and still maintain a portion of the market share. This has equally given rise to innovations as regards strategies for survival, which will hopefully mitigate against a future reoccurrence.

The Head Training – Nosak Group; Mrs Igie Odozi stated that this reality not only impacts businesses directly in terms of market share but affects to a larger extend the owners and drivers of the business. The major stakeholders in this endeavour are the owners and the employees. In situations such as the one business owners and organisations have found themselves in this country, the organisations will have to grapple with issues of shrinkage of the market, downsizing, cost savings/reduction in order to remain afloat while employees on their part are up and doing in seeking for greener pastures in other organisations to mitigate the risk of job losses. This to a large extent accounts for the current high level of employee turnover in organisations.

For organisations willing and seeking to remain afloat while running profitably, the key is to imbibe a culture of learning.  Training programmes for human capital development are now channelled towards ensuring the effectiveness of employee contributions to the success of the business. Consequently, smart organisations now adopt more effective solutions in workforce engagement through the retention of their critical talents. This is only achievable by continuous investment in learning and development. Learning and development continues to be a practice that requires a substantial chunk of investment and organizations that fail to adjust their learning management practices and solutions will struggle endlessly with declining organizational growth or productivity.

Nosak Group as a world class company, an innovative cum leading brand in industries is an advocate of this smart solution of investing heavily in continuous learning and development of its workforce using the best of technology and content. A recent study revealed that leading companies like Nosak Gorup are taking it further by leveraging on social learning activities; mobile learning solutions etc thereby consistently increasing the budget size for learning and development. This has equally given rise to a paradigm shift whereby there is a transition from the traditional context of strictly controlling approach of the workforce to the innovative approach of engaging and seeing the workforce as partners in the business.

The traditional methods of learning are also being abandoned in favour of more effective learning solutions based on cutting edge technology, which engages talent and improves performance.

In the present scheme of things, our approach at Nosak Group to organizational development are:

a).     Prioritizing the Individual employee.

b).     Development and Re-training key talent as a strategic business       priority leading to business growth.

c).     Strengthening partnership between the Group and our workforce. This makes us not to be overly “controlling” but one that views her employees as collaborators for success.

It is in line with this paradigm shift by the management of Nosak Group that a World class, fully equipped Training School was commissioned on March 15, 2017 to serve not only the needs of the Group but other organisations willing to key into this initiative. At the flag off of this laudable initiative; Group Chief Operating Officer – Thomas Oloriegbe appreciated the management team for the giant step taken to properly equip the training school with the latest technology offerings. This is geared towards impacting knowledge and empowering the work force in their respective disciplines.

OIL PALM IS OUR NEW CRUDE OIL – GOV. OBASEKI

Edo State Governor, Mr. Godwin Obaseki has revealed that his administration would massively invest in the Oil Palm sector in its quest to diversify the state economy beyond crude oil.

The governor announced this yesterday at the Edo State Government House in Benin when a 14-member committee set up to develop an oil palm plan for the state presented its report to him.

He said: “Oil Palm is our new crude oil; it will be the key driver of our development. The state still has one of the largest estates of oil palm, which have the highest yield in the country. We want to leverage on our high-yielding varieties and long tradition of oil palm production to acquire about 100, 000 hectares of land for the development of oil palm estates. The production will be of global standards and yield”.

Continuing, the governor commended the committee members for their efforts towards gathering the report assuring them that the government would acquire the necessary resources to execute the project.

‘’We will, within the next two weeks, create a smaller team to come up with a work plan on how to execute the feasibility plan, work out the image capturing of the land to be used, and get the involvement of the host community for the project.

Meanwhile, the committee Chairman, Toni Ogunbor, explaining the report, revealed that the committee recommended four key issues in the report that need to be addressed to bring the project to fruition.

These were land development, provision of security, infrastructure and the need to have data on soil and weather conditions.

NOSAK GROUP HOLDS 2017 MANAGEMENT RETREAT

NOSAK GROUP HOLDS MANAGEMENT RETREAT, AIMS TO LEAPFROG IN MARKET LEADERSHIP.

Nosak Group recently held a two-day Management Retreat themed “Accelerate and Win: Leapfrog” at Sunfit Hotels, Amuwo Odofin where over 20 Managers and Department Heads from across Nigeria gathered.
The retreat was facilitated by Wright & Co Ltd, a management consulting firm (Affiliated with Leadership & Vision Ltd) that provides cutting edge solutions to some of the most complex challenges facing organizations today.

Guest speaker, Olu Onakoya, led the retreat with a session on the importance of Effective Communication as a Leader. A Former Managing Director of Mobil Nigeria, Olu Onakoya has over 30 years of cognate corporate and organisational leadership experience, most of which he was at top management level.

Dr. Toni Ogunbor, Chairman of Nosak Group, also conducted a session on the state of the company and trends in Nigerian economy. He applauded each business on its ability to survive in the current economic recession of the country.
Recognising the newest product line of the Group; Nosak Famili Vegetable Oil, a product of one of the newest venture, Nosak Farm Produce Limited. Nosak Famili Vegetable Oil is expected to circulate every Nigerian market before the end of the second quarter of the year, 2017.
This is already creating additional jobs and export opportunities for the country, which the Federal Government has encouraged of recent times. He further stated that, “It was an outstanding retreat and the results will be felt throughout the company for a long time to come. All our team members were able to benefit from the discussions with external facilitators and to participate in the continued aim for leadership of the company.”

An indigenous conglomerate founded in 1984, Nosak Group has built a reputation for providing the highest quality services and products ranging from lubricants, ethanol, retail outlets, real estate, financial services, healthcare solutions, logistics and industrial packaging for clients across Nigeria, as well as neighbouring African Countries.

NOSAK GROUP CHAIRMAN NOMINATED TO LEAD EDO STATE OIL PALM PLANTATION FORUM

Nosak Group Chairman, Dr Tony Ogunbor, was the distinguished Chairman of the Edo State Government Agribusiness Workshop held in Benin-City from 26th to 28th January 2017. Themed ” Harnessing Resources and Opportunities to Optimise Agribusiness in Edo State”. The Workshop was to identify specific areas of government interventions, engage stakeholders and facilitate private sector investments. There was no better choice of whom to open and lead the workshop than our amiable Chairman who for over 26yrs had seen and tapped the opportunities in the Oil Palm sector of the economy. The Governor, Deputy Governor and other eminent stakeholders in business, academia and government were fully represented.

In his welcome and opening address, Dr Ogunbor took the participants on a roller coaster ride of his rich experience in the Agric sector spanning the challenges and successes. He reminded the participants of the value of Agriculture in the country in the 50’s and 60’s before the advent of Crude Oil and how in spite of our fertile lands we have been caught in the dangerous web of the black gold. He enumerated the gains in Agriculture and the value chain opportunities therein. He further highlighted the numerous benefits accruable from retracing back to the agrarian culture and commended the State government in its quest to make Edo State the number one state in Agriculture.

Breakout sessions were held in which the Nosak team participated fully in the Oil Palm/Cocoa/Rubber Group. The Nosak Team was ably represented by Mr Robert Ogirri, MD of Nosak Farm Produce Ltd and Mr Victor Egharevba, Plantation Manager of Saturn Farms.

The Chairman was further nominated by the State Governor, Mr Godwin Obaseki, during the one on one session on Saturday to lead and chair the Oil Palm Plantation Forum and present the way forward for Edo State.

To read more on this, kindly click the link below: https://www.google.com/amp/nigerianobservernews.com/2017/01/agribusiness-workshop-opens-in-benin-city/amp/

VACANCY:INTERNAL AUDIT & COMPLIANCE OFFICER

We are a reputable, world class, dynamic, creative and result oriented organization. We are currently recruiting for the post of Internal Audit and Compliance Officer.

 

INTERNAL AUDIT & COMPLIANCE OFFICER –                                     CODE: IACO-2017

Responsibilities:

  • Carry out verification exercise.
  • Carry out audit review activities as stated in the audit plan and allocated.
  • Carry out market survey as may be required.
  • Document and file according to reference document.
  • Carry out other audit assignment as directed by the unit Head of Internal Audit and Compliance.

Requirements:

  • B.Sc / HND in Accounting
  • ICAN /ACA registered or to start soon
  • Must be between 25 – 30 years of age
  • A minimum of two (2) years work experience as an internal auditor
  • Highly motivated, results-oriented individual with integrity, very confidential and able to work independently under minimal supervision with an attention to detail and accuracy
  • Analytical, excellent report writing and investigative ability
  • Experience in tank farm or depot will be an added advantage
  • Strong working knowledge of Microsoft applications (Excel, Word)
  • Ability to manage numerous tasks and sensitive information in a professional manner in a fast paced deadline driven environment

Location: Lagos

Type of Employment: Permanent

Salary: Very attractive

Expected date of resumption: Mid February 2017

Only qualified and interested candidates should send their resumes to careers@nosakgroup.com using the code as the subject of the mail. Application closes on or before Monday 31st January, 2017.

VACANCY:INTERNAL AUDIT & COMPLIANCE OFFICER

We are a reputable, world class, dynamic, creative and result oriented organization. We are currently recruiting for the post of Internal Audit and Compliance Officer.

INTERNAL AUDIT & COMPLIANCE OFFICER –                                     CODE: IACO-2017

 

Responsibilities:

  • Carry out verification exercise.
  • Carry out audit review activities as stated in the audit plan and allocated.
  • Carry out market survey as may be required.
  • Document and file according to reference document.
  • Carry out other audit assignment as directed by the unit Head of Internal Audit and Compliance.

Requirements:

  • B.Sc / HND in Accounting
  • ICAN /ACA registered or to start soon
  • Must be between 25 – 30 years of age
  • A minimum of two (2) years work experience as an internal auditor
  • Highly motivated, results-oriented individual with integrity, very confidential and able to work independently under minimal supervision with an attention to detail and accuracy
  • Analytical, excellent report writing and investigative ability
  • Experience in tank farm or depot will be an added advantage
  • Strong working knowledge of Microsoft applications (Excel, Word)
  • Ability to manage numerous tasks and sensitive information in a professional manner in a fast paced deadline driven environment

Location: Lagos

Type of Employment: Permanent

Salary: Very attractive

Expected date of resumption: Mid February 2017

Only qualified and interested candidates should send their resumes to careers@nosakgroup.com using the code as the subject of the mail. Application closes on or before Monday 31st January, 2017.