As audited accounts start to trickle in, companies will propose dividend payments to their shareholders as recommended by their respective boards of directors. It is also important to track these announcements to know who is eligible to collect the dividend, when it will be approved and when it will be paid. Dividend payment also affects share prices.
This page will be updated from time to time.
Date Announced – The date the company announced dividends evidenced by a corporate action published on the website of the NSE.
Qualification date – Shareholders who own shares as of this date will receive dividends. If you buy shares and want to receive dividends make sure it is at least three days before this date. Shares get transferred to you on the basis of the T+3 rule (the date you bought plus 3 working days).
Payment date – This is when the dividend will be paid to you, either via post (dividend warrants) or direct credit to your bank accounts (e-dividend).
Closure of Register – Only shareholders who own shares listed in their register before this date will be paid dividends.
You can also scroll sideways to view the rest of the columns if using a mobile phone.
READ MORE: How to read stock market tables
2020 Dividends from companies quoted on the Nigerian Stock Exchange
|Company||DPS||Date Announced||Bonus||Closure of Register||AGM Date||Payment Date||Qualification date|
|Access Bank Plc||N0.25k||3rd September 2020||Nil||18th September 2020||Nil||28th September 2020||17th September 2020|
|11 Plc (Updated)||N8.25||28th May 2020||Nil||30th Sept - 5th Oct 2020||14th October 2020||15th October 2020||29th Sept 2020|
|Zenith bank Plc||N0.30k||3rd September 2020||Nil||17th September 2020||Nil||22nd September 2020||16th September 2020|
|Guaranty Trust Bank Plc||N0.30k||2nd September 2020||Nil||16th September 2020||Nil||21st September 2020||15th September 2020|
|Stanbic IBTC Holdings Plc||N0.40k||2nd September 2020||Nil||16th - 23rd September 2020||Nil||30th September 2020||15th September 2020|
|Learn Africa Plc||N0.05k||1st September 2020||Nil||5th - 9th October 2020||15th October 2020||16th October 2020||2nd October 2020|
|United Bank for Africa||N0.17k||1st September 2020||Nil||16th September 2020||Nil||23rd September 2020||15th September 2020|
|Tripple Gee & Company Plc||N0.055k||12th August 2020||Nil||1st - 4th September 2020||16th September 2020||22nd September 2020||31st August 2020|
|Lasaco Assurance Plc||N0.05k||14th August 2020||Nil||1st September 2020||15th September 2020||22nd September 2020|
|Linkage Assurance Plc||Nil||26th June 2020||1 for every 4 shares||20th - 24th July 2020||13th August 2020||NA||17th July 2020|
|Smart Products Nigeria Plc||N0.10k||30th June 2020||Nil||27th - 31st July 2020||27th August 2020||3rd September|
|University Press Plc||N0.15k||10th June 2020||1 for every 13 shares||25th September 2020||5th November 2020||5th November 2020|
|AIICO Insurance||Nil||10th June 2020||1 for every 13 shares||29th June - 3rd July 2020||To to be communicated||NA||25th June 2020|
|Red Star Express Plc||N0.35k||28th August 2020||Nil||21st - 25th September 2020||8th October 2020||15th October 2020||18th September 2020|
|Consolidated Hallmark Insurance Plc||Nil||4th August 2020||1 for every 14 shares||19th - 25th 2020||26th August 2020||Nil||18th August 2020|
|Custodian Investment Plc||N0.10k||29th July 2020||Nil||24th - 28th August 2020||Nil||1st September||21st August 2020|
|SFS Real Estate Investment Trust||N7.30||17th August 2020||Nil||7th - 11th September 2020||Nil||25th September 2020||4th September 2020|
|Northern Nigeria Flour Mills PLC||N0.15k||13th August 2020||Nil||25th - 28th August 2020||8th September 2020||10th September 2020||24th August 2020|
|Honeywell Flour mills||N0.04k||5th August 2020||Nil||17th - 23rd September 2020||30th September 2020||30th September 2020||16th September 2020|
|Presco Plc (Updated)||N2.00k||3rd June 2020||Nil||20th - 22nd July 2020||2nd September 2020||4th September 2020||17th July 2020|
|Cornerstone Insurance||Nil||4th August 2020||7 new shares for every 30 existing shares||13th -17th August 2020||NA||NA||12th August 2020|
|Flour Mills of Nigeria||N1.4k||29th July 2020||Nil||17th August - 21st August 2020||10th September||14th September 2020||14th August 2020|
|MTN Nigeria Plc||N3.50k||29th July 2020||Nil||17th August 2020||NA||24tb August 2020||14th August 2020|
|Cutix PLC||N0.12K||29th July 2020||Nil||16th - 20th November 2020||27th November 2020||30th November 2020||13th November 2020|
|C & I Leasing PLC||N0.20k||30th June 2020||Nil||14th - 16th July 2020||23rd July 2020||31st July 2020||13th July 2020|
|McNichols Consolidated Plc (Revised)||N0.03k||1st April 2020||Nil||2nd - 6th July 2020||30th July 2020||7th August 2020||1st July 2020|
|Dangote Sugar Refinery Plc||N1.10k||8th June 2020||Nil||22nd June 2020||9th July 2020||within 48hrs after AGM||19th June 2020|
|Jaiz bank||N0.03k||9th June 2020||Nil||29th June - 3rd July 2020||16th July 2020||16th July 2020||26th June 2020|
|UAC of Nigeria Plc (UPDATED)||N0.10k||20th April 2020||Nil||19th - 22nd May 2020||15th July 2020||16th July 2020||18th May 2020|
|Prestige Assurance Plc||Nil||4th June 2020||2 New shares for every 11 existing shares||22nd - 26th June 2020||30th June 2020||N/A||19th June 2020|
|Trans-Nationwide Express Plc||N0.03k||1st June 2020||Nil||6th - 10th July 2020||16th July 2020||20th July 2020||3rd July 2020|
|Nigeria Aviation Handling Company PLC||N0.30k||28th May 2020||Nil||1st - 3rd July 2020||16th July 2020||16th July 2020||30th June 2020|
|Skyway Aviation Handling Co. Plc||N0.16k||1st June 2020||Nil||17th - 23rd June 2020||30th June 2020||30th June 2020||16th June 2020|
|Glaxo SmithKilne Consumer Nig. Plc||N0.55k||22nd May 2020||Nil||23rd June - 2nd July 2020||23rd July 2020||24th July 2020||22nd June 2020|
|Airtel Africa||0.03||13th May 2020||Nil||6th July 2020||Not applicable||24th July 2020||NA|
|Caverton Offshore Support Group Plc||N0.20k||22nd May 2020||Nil||16th June 2020||25th June 2020||25th June 2020||15th June 2020|
|Nigerian Breweries Plc (Revised)||N1.51k||20th May 2020||Nil||5th-11th March 2020||23rd June 2020||24th June 2020||4th March 2020|
|BUA Cement||N1.75k||19th May 2020||Nil||28th Sept - 2nd Oct 2020||22nd October 2020||23rd October 2020||25th September 2020|
|NASCON Allied Industries Plc||N0.40k||13th May 2020||Nil||15th - 16th July 2020||27th July 2020||29th July 2020||14th July 2020|
|Total Nigeria Plc||N6.71||13th May 2020||Nil||5th - 11th June 2020||to be announced||24hrs after meeting||4th June 2020|
|Cadbury Nigeria Plc||N0.49k||13th May 2020||Nil||25th - 29th May 2020||24th June 2020||25th June 2020||22nd May 2020|
|May and Baker Plc||N0.25k||13th May 2020||Nil||27th - 29th May 2020||4th June 2020||8th June 2020||26th May 2020|
|NPF Microfinance Bank Plc||N0.20k||11th May 2020||Nil||17th - 22nd June 2020||30th June 2020||30th June 2020||16th June 2020|
|Okomu Oil Palm Plc||N2.00||23rd April2020||Nil||19th - 22nd May 2020||28th May 2020||29th May 2020||18th May 2020|
|Lafarge Africa Plc||N1||27th April 2020||Nil||4th - 8th May 2020||3rd June 2020||3rd June 2020||30th April 2020|
|Wema Bank Plc||N0.04k||23rd April 2020||Nil||7th - 12th May 2020||18th May 2020||18th May 2020||6th May 2020|
|Union bank of Nigeria||N0.25k||13th April 2020||Nil||27th - 30th April 2020||6th May 2020||6th May 2020||24th April 2020|
|FBN Holdings||N0.38k||6th April 2020||Nil||21st - 22nd April 2020||27th April 2020||28th April 2020||20th April 2020|
|Lafarge Africa Plc||N1.00k||6th April 2020||Nil||4th - 8th May 2020||26th May 2020||26th May 2020||30th April 2020|
|Ikeja Hotel Plc||N0.02||3rd April 2020||Nil||2nd - 8th July 2020||30th July 2020||7th August 2020||1st July 2020|
|NEM Insurance||N0.15k||1st April 2020||Nil||4th - 8th May 2020||to be announced||to be announced||30th April 2020|
|FCMB Group Plc||N0.14k||31st March 2020||Nil||15th - 17th April 2020||28th April 2020||28th April 2020||14th April 2020|
|Beta Glass Nigeria Plc||N1.67k||30th March 2020||Nil||15th - 19th June 2020||2nd July 2020||3rd July 2020||11th June 2020|
|Capital Hotel Plc||N0.05k||26th March 2020||Nil||20th - 24th April 2020||27th May 2020||3rd June 2020||17th April 2020|
|Sterling bank Plc||N0.03k||26th March 2020||Nil||5th - 8th May 2020||20th May 2020||20th May 2020||4th May 2020|
|Boc Gases||N0.30k||26th March 2020||Nil||8th - 10th June 2020||25th June 2020||26th June 2020||5th June 2020|
|Fidelity Bank Plc||N0.20k||23rd March 2020||Nil||20th - 24th April 2020||30th April 2020||30th April 2020||17th April 2020|
|Seplat Petroleum Dev. Company Plc||0.05||23rd March 2020||Nil||13th May 2020||28th May 2020||4th June 2020||12th May 2020|
|Julius Berger Nig. Plc||N2.75k||13th March 2020||0.002||1st to 3rd June 2020||18th June 2020||19th June 2020||29th May 2020|
|Nigeria Energy Sector Fund (NESF)||N75.00||10th March 2020||Nil||20th March 2020||6th April 2020||19th March 2020|
|Access Bank Plc||N0.40k||6th March 2020||Nil||15th April 2020||30th April 2020||30th April 2020||14th April 2020|
|Nestle Nig Plc||N45.00k||28th February 2020||Nil||18th - 22nd May 2020||2nd June 2020||2nd July 2020||15th May 2020|
|Stanbic IBTC Holdings Plc||N2.00||5th March 2020||Nil||19th - 26th March 2020||30th June 2020||18th June 2020||18th March 2020|
|Guaranty Trust Bank Plc||N2.50k||2nd March 2020||Nil||19th March 2020||30th March 2020||30th March 2020||18th March 2020|
|United Bank of Africa||N0.80k||2nd March 2020||Nil||16th - 20th March 2020||27th March 2020||27th March 2020||13th March 2020|
|Transcorp Plc||N0.01k||28th February 2020||Nil||18th - 23rd March 2020||25th March 2020||27th March 2020||17th March 2020|
|MTN Nigeria Plc||N4.97k||28th February 2020||Nil||February 16, 1900||8th May 2020||19th May 2020||17th april 2020|
|Transcorp Hotels Plc||N0.07k||28th February 2020||Nil||13th-17th March 2020||24th March 2020||26th March 2020||12th March 2020|
|United Capital PLC||N0.50k||18th February 2020||Nil||9th-13th March 2020||24th March 2020||26th March 2020||6th March 2020|
|Infinity Trust Mortgage Bank PLC||N0.035K||30th January 2020||Nil||9th-13th March 2020||7th May 2020||14th May 2020||6th March 2020|
|Zenith bank Plc||N2.50k||21st February 2020||Nil||10th March 2020||16th March 2020||16th March 2020||9th March 2020|
|Africa Prudential Plc||N0.70k||25th february 2020||Nil||9th-13th March 2020||23rd March 2020||23rd March 2020||6th March 2020|
|Dangote Cement Plc||N16.00||25th february 2020||Nil||26th May 2020||15th June 2020||16th June 2020||25th May 2020|
|January 1, 1970|
How to apply for Canadian Permanent Residency on your own
This simple procedure might just be what you need for a seamless and less stressful immigration to Canada.
Canada is seen as a land of greener pastures for Nigerians, and many other citizens of developing nations, seeking to migrate to other countries, in search of work, education, and a better life. Meanwhile, we live in a world of endless opportunities, as so many people can move, travel, and build a life in a totally different place, from where they were born.
Countries like Canada, have impressive policies, that allow other skilled nationals to earn permits to live and work there. The major means for Nigerian nationals to migrate to Canada is through Express Entry. It is an online system that the Canadian government uses to manage permanent residence applications.
Below is a snapshot of the process.
- The first step is to enter the Express Entry pool.
- To do this, you will need to take an English test, and get your educational credentials assessed.
- Once you’re in the pool, you will be given a score based on factors such as your age, education, work experience, and language proficiency.
- You may then be invited by the Canadian government, to apply for permanent residence, as part of one of the regularly held Express Entry draws.
To further help our readers understand the process more, these are the details on how to go about it. Of course, this article cannot cover every single aspect of immigrating to Canada. However, if you want to know more about the Express Entry process to move to Canada, this is for you.
Step 1a – Take the quiz to find out if you are eligible
The quiz is simple and you can do it by yourself here. If you have not done a language test before, give yourself a hypothetical test score, and fill out your other information. I recommend that you give yourself a test score lower than what you think you may get, so you can gauge the amount of room you have to play around with.
Step 1b – Find out your work NOC (National Occupational Classification)
This is important because you can only claim work history in one NOC, which means that if you’ve jumped around from one job description to the other, you will need to choose the one you have acquired the longest experience at. It is okay if you’ve changed jobs, but as long as your jobs have all been in one NOC, they count. Find your NOC here.
Step 2 – Register for the language test – IELTS General, etc.
Cost: N75,000 for Nigerians
Time Required: 2 to 3 months
If you are eligible based on the quiz above, the next step is to register for the language test. Everyone applying for Canadian PR has to take a language test, to show proficiency in either French or English. You get bonus points if you can prove both! I recommend that you give yourself a two to three-month window to prepare for the language test.
For most people, this is the only thing you have in your control. Your age isn’t going to change, your work history won’t change much, and you may need a few years to get an additional degree. So, even though you have been speaking English all your life, IELTS General and others are standardized tests, and you have to know how they want you to answer the questions asked.
The most common test for English Language is IELTS General (you cannot use IELTS Academic for immigration purposes), but it isn’t the only one. See the approved language tests for Canadian PR here. This is the official site to register for IELTS with British Council. You can also choose between paper-based and computer-based tests, which are both delivered in any of their official test centers, as desired by you.
Here are practice tests to help you prepare for the IELTS General test. Do not take these practice guides for granted. They go a long way in ensuring you pass the test.
Step 3 – Prepare your documents for Educational Credential Assessment (ECA)
Cost: from USD230/CAD305/N87,400
Time Required: 2 months
Use the two or three months of IELTS preparation, to also prepare your degree evaluation, so you can save time. Everyone who goes to school outside of Canada must go through this process. The Canadian IRCC has a list of certified organizations, that can verify your degree and equate it with a Canadian one. The list of organizations can be found here. The most common organization is World Education Services (WES). Basically, they need to say that your degree is equivalent to so-so-and-so degree in Canada.
You can decide to evaluate your most recent degree or all your degrees. The IRCC only requires your most recent degree (your highest degree). However, you need to figure out what works best for you. It is important to note that, if you evaluate multiple degrees under one WES profile, it costs the same as evaluating only one degree. This is the process:
- Register an account with WES here.
- Fill out a profile and provide information about your degree(s). Please, make sure every detail is correct and you cross-check a couple of times.
- Pay the evaluation fee of CAD220, and the courier fee of CAD85 (for them to ship your evaluation back to you). I recommend you pay the CAD85 courier fee, instead of the CAD7 regular postage fee, so that when your evaluation is returned, it is returned speedily, securely, and doesn’t get stuck in the local post system. As soon as you pay, you will receive a unique WES Number.
Note: When you put in all your degree details, the WES system will automatically pull out the documents you are required to send to them for verification. For most countries, only transcripts are required. Unfortunately, those with Nigerian degrees are required to provide a whole lot more, due to a number of people sending in falsified documents. List of requirements for Nigerian degrees:
- Degree Certificate
- Academic Transcripts
- Final Secondary Examination Results
- WAEC/NECO Scratch Card
The requirements were changed in 2018, when they could no longer take the increasing number of fraudulent documents coming in from Nigeria.
- Apply for your transcripts and documents. If your school has a cut-throat process, all the more reason to ensure that you have enough time to go through this process. Also, remember to factor in the cost of requesting transcripts.
- Send your required documents to WES. Make sure you follow all the instructions. All transcripts and documents must be sealed and signed, or stamped across the seal fold of the envelope, and every envelope must have your WES number on it. Courier shipping via DHL, from Lagos to the WES Toronto office costs about $65 or CAD86 or N24,700.
- Wait for WES to receive your documents and complete your verification. It takes 20 working days from when they receive all your required document, for them to send you an evaluation report. This is the report that you need for your Canadian PR application.
Step 4 – Take your IELTS Test & Get Results
Time Required: 13 Days
Your speaking test will be on a different date from your writing, reading and listening tests. You will receive an email a few weeks to your test date, with details of your speaking test (usually the speaking test is the same week as your main test date). All the other three tests will be on the day you chose when you registered. You will be able to pick up your results 13 days after your main test date.
Step 5 – Create an Online Express Entry Profile
Now that you have your WES evaluation report and your language test results, you are ready to create an Express Entry profile here. You can use this tool to find out what your exact CRS Score will be, by just filling the questionnaires with your results. That way, you have an idea whether you stand a high chance in the pool or not.
This profile will close within 60 days of opening, if you do not submit, so try to complete it as soon as you can. You will be asked personal information, work history, test scores, degree details, etc. All these details will add up to give you a Comprehensive Ranking System (CRS) Score. Make sure you are truthful and consistent. As soon as you complete and cross-check your Express Entry profile, go ahead and submit it.
Step 6 – Wait for an Invitation to Apply (ITA)
Time Required: minimum of 1 day
Every two weeks, a draw is made from the pool of submitted Express Entry profiles. This draw is done to offer ITAs to candidates. An ITA basically says, “you can now begin the official application process for PR.” The exact cut-off score is determined by the number of selections the committee plans to choose from that draw. For example, if they need 3,500 selections from that draw, they pick the highest 3,500 candidates in the pool on that date, and the score of the 3500th person becomes the cut-off score. If there is a tie for the 3500th person, they use factors like date and time of submission to break the tie. Just as a guideline, the cut-off scores for August and September 2020 were 476 (Aug 5) and 475 (Sep 2) respectively.
If you are one of the top candidates, you can receive an ITA in the next draw, from when you submit your profile. Technically, if you submit your profile today and the draw is tomorrow, you can get an ITA in one day. However, if your score falls short, you can stay in the pull, and keep doing other things to boost your score. See a detailed explanation on ways to improve your score, while you’re in the Express Entry pool. After 12 months, if you don’t get selected from the pool, it will expire and you will have to create a new one.
Also, while waiting for an ITA, you can register in the Job Bank, and start looking for jobs.
Step 7 – Apply for Canadian Permanent Residency
Cost: USD785/CAD1,040/N298,300 per adult applicant
Time Required: 6 months.
Now that you have been invited to apply, you will need to prepare your application and submit all your documents. It is important to note that your fee of CAD1,040, is split into CAD550 application fee and CAD490, right to permanent residence fee. If you do not successfully get PR, the CAD490 will be refunded to you. You only have 60 days to complete this application!
- Application Fee (see above)
- Test Results
- Academic Verification Report
- Digital Photographs
- Medical Examination: Every country has an approved list of panel physicians, who can provide a medical examination. In Nigeria, there are three in Lagos and one in Abuja, the costs may vary slightly.
- Police Certificates: If you have lived in a country for more than 6 months in a row, within the last 10 years, you have to include police reports from each of those countries (including your home country, where you currently live). The cost of obtaining a police certificate will differ based on where you live, and where you are requesting one from. See how to get a police certificate in each country.
- Passport Biodata Page
- Reference or Experience Work Letter: Your former and current employers listed on your Express Entry Profile; must all provide letters to prove your work history with them.
- Proof of Funds: You must provide a letter from your bank vouching for the availability of funds required for relocation. These are the amount required for relocation:
1 Family Member (you alone): CAD12,669 or N3.69 million.
2 Family Members: CAD15,772 or N4.31 million.
3 Family Members: CAD19,390 or N5.65 million.
4 Family Members: CAD23,542 or N6.86 million.
5 Family Members: CAD26,701 or N7.78 million.
6 Family Members: CAD30,114 or N8.77 million.
7 Family Members: CAD33,528 or N9.77 million.
For each additional family member: CAD3,414 or N994,000.
- Other Documents: Depending on whether you have children, you are divorced, married, and so on, there is a host of other documents required, including name change certificate, birth certificate of child(ren), marriage certificate etc. Find the full details here.
Once you have all your complete documents, you will be able to fill out your application on the portal and upload scanned copies of all your documents. Make sure you follow the guidelines for clarity, size and resolution of all documents. You will also be able to make your payment.
Step 8 – Bio-metrics
At some point, you may be called to submit your bio metrics at a local embassy or VFS.
Step 9 – Wait and live your life!
According to the IRCC, 80% of all applicants receive a response within 6 months. Don’t spend 6 months worrying. Just go about your business. You can log into your profile from time to time to check what stage your application has reached. For some people, it comes in 2 months and for others, it takes 6 months! It doesn’t matter, just keep living your life.
Step 9 – Receive a PPR – Passport Request email – Ready for Visa
Once you get this letter, you can send in your passports. Your PR approval will also come with a deadline, when you have to enter into Canada or else your PR will be invalidated. This is usually between 6 months to 1 year from the approval. You are ready to go!
NOTE: This article is a revamped content written by Funmi Oyatogun in 2019.
Funmi Oyatogun is a travel expert/consultant with TVP Adventure, and also the Owner/Publisher of funmioyatogun.com. She is on Instagram @funmioyatogun.
Up for a raise? Use these 5 strategies to make it happen
To avoid appearing selfish or materialistic, here are five strategies to employ when demanding a raise.
Requesting a raise is an important conversation that you should have with your employer, particularly if you believe your salary does not measure up with the value you bring to the company or the duties for which you are assigned.
In a bid to avoid appearing selfish or materialistic, many people shy away from this. They continue to expect the day the company will announce a raise or promotion for the employees. Although in some workplaces this sometimes plays out as expected, many other businesses seldom revisit the salary specifics and performance evaluation document of their employee to evaluate and conduct a correlation in order to make recommendations for a raise to those who merit it.
Demanding a raise does not entail asking for a favor from the company, it simply means asking for suitable market value for your job roles and responsibilities. In as much as this might be the right of an employee, it is necessary to know how to go about it appropriately in order to achieve a favorable outcome.
Here are five strategies to employ when demanding a raise:
1. Evaluate your contributions and performance
To ask for a raise, you need to have a well-grounded knowledge of the positive contributions you have made to the company. Create a list or record of your discharge obligations or duties, as well as significant achievements that you made on the job. This will give you insight as to the value you bring to the company and what you get in return. Evaluating your results will provide you with a sound understanding of your efforts, achievements, and will also increase your confidence to demand a pay raise. This will help your boss realize that you know your worth.
2. Boost your negotiation power
Negotiation is the process of reaching a fair agreement for the parties involved by means of meaningful conversations. Most employees cower in the face of salary negotiation because of the impression this may create about them to their employers. Others who are brave enough to take the step lack the skillfulness to achieve or reach a handy result.
Negotiation is an art that should be learnt. Employees should improve on their negotiation skills if they intend to get a fair bargain for their efforts. One of the negotiation techniques that can be incorporated when asking for a raise in pay is to layout specific options from which the employer is to choose. This will offer both parties substantial choices to make a decision from.
3. Right timing matters
There is a time for everything. As cliché as this may sound, it is a fact you should accept and work with. You have to assess the company’s financial position to ascertain if asking for a raise will be feasible. When this is done, you can proceed to arrange a meeting to discuss it with your employer. Find out from your employer when it is convenient to discuss issues of concern that you have.
4. Present cogent reasons
When demanding a raise, one of the strategies to achieve this is to tender reports or proof of your achievements or efforts that have contributed to the development of the company in some way. You can request for a raise on the grounds of the length of service, duties, or performance. Your motives should reflect the principles of the company and they should be objectively stated.
5. Express gratitude
Appreciate the employer for the ability to work for the company and show a sense of appreciation for their service. Let the employer know that your demand for a raise does not mean that you are dissatisfied with the employer or the work, but rather that it is a request for what suits the specified roles you play.
For a variety of reasons, many organizations give an employee a raise based on different factors that range from efficiency, motivation, length of service, promotion, and a few other factors. If you are assured that you have fulfilled the requirements for a raise, the methods mentioned can be used to improve the chances of having a raise.
Agriculture vs Unemployment: Buhari’s farming policy has a major flaw
How workable is Buhari’s plan to send able-bodied young people to the farms as a way of solving unemployment in the country?
Two weeks ago, President Muhammadu Buhari directed that food and fertilizer importers should not be given access to foreign exchange by the CBN.
The President added that Nigeria has lots of young people (median age of 17.9), hence, agriculture is a means to solve unemployment among youths.
“We have a lot of able-bodied young people willing to work, and agriculture is the answer,” the President said.
However, Nigeria’s problem in Agriculture is not a lack of personnel, but a problem with productivity.
— Chairman AW (@AffiSupaStar) September 11, 2020
Is productivity related to manpower in other countries?
The Netherlands is Europe’s largest agriculture exporter, boasting of Europe’s most advanced agriculture sector. In 2019, the Netherlands exported €94.5 billion worth of agricultural goods. That is a 4.6% increase in the €90.4 billion export figure for 2018. Around two-thirds of this growth is due to an increase in export prices, while a third is due to higher export volume.
In 2019, the Netherlands had a labour force of 9 million, and just 2% of that figure is employed through agriculture. Meaningless than 300k people produce €94.5 billion worth of agricultural exports in 2019.
What about other emerging economies?
Comparing Nigeria to the Netherlands does not paint a proper picture as the latter is a typical first world nation with most of the labour force out of agriculture.
However, other emerging economies also have large agriculture sectors, which could be comparable to Nigeria’s.
The top 4 rice exporting nations of 2019 were India ($7.1 billion), Thailand ( $4.2 billion), USA ($1.9 billion), and Vietnam ($1.4 billion).
The United States is the only top 4 exporting rice nation that is not regarded as an “emerging economy.”
Does agriculture play a major role in their economic workforce/ productivity?
India: The Asian giant has a labour force of 494 million, of which 44% are employed in agriculture, the Industry employs 23% of Indians while the Service economy employs 31% of Indians.
However, despite being the world’s largest exporter of rice, agriculture produce did not even make India’s top ten exports, as industrial goods were responsible for India’s top ten exports. Mineral Fuels made up India’s top export in 2019 at $44.1 billion, followed by Gems and Precious Metals at $36.7 billion, and Computer Machinery at $21.2 billion.
India’s I.T sector is also a major producer of Indian productivity with domestic revenue expected to hit $44 billion in 2020, while exports revenue was estimated at US$ 147 billion.
Agriculture contributes 8.4% to Thailand’s GDP, with Industry at 39.2% and Services being the highest contributor at 52.4%.
Food is not a major top 5 export from Thailand, as Computer Machinery was its major export in 2019 at $40.2 billion, followed by Electrical equipment at $33.9 billion and Vehicles at $28.9 billion.
Vietnam: Southeast Asia’s star economy was the 3rd largest emerging economic rice exporter in 2019, with a labour force of 57 million. Vietnam recorded a trade surplus of $11.12 billion in 2019, from exports of $264.189 billion.
Agriculture contributes 15.3% to Vietnam’s GDP, followed by industry at 33.3% and Services at 51%.
Vietnam exported $126 billion in electrical equipment in 2019 alone, with smartphones and spare parts making up $51.38 billion of that amount. Footwear exports came at $24 billion in 2019 while clothing was $16 billion.
From the data above, agriculture which employs a component of emerging market economies does not contribute the most to their productivity, as manufactured goods are a major source of export income and rising.
Does sending more people to the farms increase productivity?
Affiong Williams, the founder of food processing company ReelFruits, says that she does not think sending more Nigerians to the farms will increase productivity because “There is very little material productivity to achieve by increasing physical labour on the farms. Productivity increases in Agriculture, which moves the needle on production output, are more impacted by things like fertilizers, mechanization, and increased technical expertise. Manual labour is no match for any of those things.“
What does Nigeria need to do to improve yields?
“The over-reliance on smallholder farming, in my opinion, is the biggest hindrance by the government to improve agro yields,” she added.
She added that even though the current model may be seen as a “development activity,” it barely achieves its true aim.
“To improve the output of any crop, one needs to do a lot of testing and control for so many factors to be able to arrive at the right conditions which increase productivity. Smallholder farmers do not have the resources to do this type of ‘A/B testing’ as it were and so it is very difficult to get true information and disseminate the right techniques that all of these farmers can apply.
“I think the government needs to enable more commercial farming by the private sector who are able to acquire the resources to increase productivity and disseminate such learnings at a faster pace,” she said.
The story is even more tragic when you compare with our neighbours: pic.twitter.com/YMAcGlzbOf
— Chairman AW (@AffiSupaStar) September 11, 2020
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Bottom Line: The Nigerian government is not focusing on the aspects that increase productivity in agriculture which experts say are fertilizers, mechanization, and increased technical expertise, components that cannot be replaced with more human capital in the farms.
Secondly, growth in Nigerian agriculture yields can only be done through large scale commercial farming with the ability to conduct tests to find the right techniques for farmers.
Finally, compared to contemporary emerging economies, Nigeria is seriously lagging behind in both agriculture exports and manufactured exports, as Nigeria’s top ten agriculture exports hit just N289 billion between April 2019 – March 2020.