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The Federal Government of Nigeria, gave tax defaulters till March 31, 2018, deadline to pay up their taxes or face prosecution. Acting President Yemi Osinbajo disclosed this when signing the Executive Order during the launch of Voluntary Assets and Income Declaration Scheme (VAIDS) at the Presidential Villa, Abuja today Thursday (29/06/2017); in company of Minister of Finance Kemi Adeosun. He also warned all stakeholders to voluntarily declare their assets and income or face the consequences.

He noted noted that the administration had gathered financial intelligence on the assets of Nigerians at home and Tax Defaulters 8 Months Amnestyabroad in the last 15 months and affirm that only 214 people were paying an annual tax of N20 million voluntarily which, according to him, far from the large number of high net-worth people in the Nigeria. Osinbajo, also noted that all those in this category were resident in Lagos, said the Voluntary Assets and Income Declaration Scheme, VAIDS, which Executive Order was signed on the occasion, would create room for defaulters to get registered and pay their taxes between July 1 and March 31, 2018.

The Acting President disclosed that the government had built a database of the assets of Nigerians, including those held in tax havens across the globe, and would go after defaulters after the March 31, 2018, deadline. He warned that anyone who failed to take advantage of this window period will face dire consequences. In his words: “The project has engaged, on retainership, one of the world’s leading assets tracing firms. Nigeria has also solicited for inputs from various nations who have availed us data under the various conventions and treaties which we have signed. “The project has been able to create accurate financial profiles of thousands of Nigerian companies and individuals, which show various levels of non-compliance. “Tax evasion is not just a civil matter, it is also a crime.When people pay taxes, they hold government to account more,” he said.

Nigeria is now party to the Automatic Exchange of Information, which comes into effect in 2018. “This means that Nigeria will automatically have information required to successfully pursue tax evaders across the world. Countries which are party to this agreement include Switzerland, Panama, Bahamas and other tax havens. Additionally, banking information will easily be shared across countries due to newly implemented Common Reporting Standards (CRS).

Specifically, Nigeria will have access to information on beneficiaries and owners of assets held abroad, including tax havens. “Based on information that is now available, our preference is that those that have diverted Nigeria’s resources to tax havens abroad or concealed them in Nigeria should face the full force of the law. ‘’VAIDS will be operated from July 1, 2017 to March 31, 2018. It will be supported by an Executive Order that I will sign into law today. Only 14 million pay taxes On the statistics of tax payers, Osinbajo said: “According to the Federal Inland Revenue Service, the total number of tax payers in Nigeria is just 14 million. Out of this number, 96 per cent have their taxes deducted at source from their salaries. “Only four per cent comply under direct assessment. So, the vast majority of Nigerians do not pay taxes. This is at variance with the structure of our economy where we are estimating that almost 70 million Nigerians are economically active. “That means that only 20 per cent of the people engaged in one form of business or the other are registered and paying tax.

Osinbajo explained that the problem of tax evasion is not limited to only the rich in Nigeria, he added, however, that the nation practised a progressive taxation in which the rich pay more, while low income earners pay less but that everyone must pay taxes.

He announced every Thursday as Tax Awareness Day, with a view to increasing tax education across the nation. He urged the governors to support the programme, saying it would directly impact positively on state revenues as well.

Osinbanjo gives 9 Months amnesty to Tax Defaulters

With Nigeria’s tax-to-GDP ratio at 6%, it is one of the world’s lowest, and the VAID Scheme is specifically targeted at taxpayers who have not been fully declaring their taxable incomes/assets, have not been paying the tax due at all and have been underpaying or under-remitting their taxable income. It will cover Federal, State, personal, capital gains, stamp duties, tertiary education and business taxes.

The scheme, is expected to raise the sum of $1 billion, entails the registration, full and honest declaration of previously undisclosed assets and income and gives tax payers the benefit of forgiveness of overdue interest and penalties, and the assurance that they will not face criminal prosecution for tax offences or be subject to tax investigations. VAIDS ushers in an opportunity to increase the nation’s general tax awareness and compliance.

For your Audit, Statement of Account, Tax clearance etc, contact our professionals by calling (+234) 080-9502-9999 or email:

Shea Butter is a skin superfood that comes from the seeds of the fruit of the Shea (Karite) or Savannah tree and that investorng_shea_butteris naturally rich in vitamins A, E and F. The tree and grows naturally in Nigeria and other West Africa countries. It produces a fruit, similar to a plum, which contains a nut. The nut is dried and the kernel inside is then removed. The kernel is ground up to obtain Shea Butter, which has softening, nourishing and moisturizing benefits. It offers UV protection (it is SPF ~6) and provides the skin with essential fatty acids and the nutrients necessary for collagen production. Shea Butter has been used in Africa and other countries for years to improve skin and hair. It protects against the sun’s rays, it is an anti-oxidant (vitamin E) and has regenerating and restructuring properties.

Shea Butter is referred to as “Women’s Gold” because of its amazing skin care properties. Local African women process the Shea Butter using a cold process technique. It is a valuable source of income for many African Women. Shea Butter can vary in texture as it is produced by crushing nuts from the Shea tree rather than by extraction using solvents.

It is simply used by melting a small amount of Shea Butter in the palm of your hand and massaging gently onto the face, hands and body. You may find Shea Butter is easier to apply, if warmed between your fingers first. So just scrape it out of the container with your finger, put it into the palm of your hands and rub your hands together. The heat from your hands will cause the Shea Butter to melt and then just apply it to your body and/or hair/scalp.


Shea Butter Benefits
Skin Moisturizing
The concentration of natural vitamins and fatty acids in Shea Butter makes it incredibly nourishing and moisturizing for skin. It is often used to remedy dry skin and to help protect the skin’s natural oils. This 100% natural vegetable extract can be used on your face as a moisturizer. It is a super nourishing treatment for extra dry areas of the body such as the knees, elbows and feet. Shea Butter is perfect for protecting dry chapped lips. Massage into the cuticles and hands for softer skin. Use as a hair mask before shampooing to add extra moisture to dull or dry hair. It can also be left to replenish split ends of the hair. Shea Butter is fabulous for preventing irritation on baby’s delicate skin! Apply after shaving or waxing to add lost moisture to the skin and prevent irritation. It is also great for men to use after shaving for smoother, softer skin. Shea Butter is fabulous for healing bruises and cuts and easing pain.


Reduces Inflammation
A 2010 study found that due to its cinnamic acid and other natural properties, Shea Butter was anti-inflammatory. One compound in particular, lupeol cinnamate, was found to reduce skin inflammation and even potentially help avoid skin mutations. This also makes it beneficial for some people with acne. It is an antioxidant and anti-inflammatory. Unrefined Shea Butter has so many health benefits for skin and hair because it contains antioxidant and anti-inflammatory properties. Shea Butter contains Vitamin A, E, F and others, that protect our bodies from free radicals. Free radical damages our healthy cells and they are responsible for many of the health issues we face, including hair loss and hair loss related conditions. If our bodies are healthy, our hair will be healthy also. Inflammatory issues are main symptoms of a lot of scalp and skin conditions. Conditions such as eczema and psoriasis contribute to hair loss. Shea Butter has inflammatory properties, which help to heal us of these scalp and skin conditions and allow our scalp (and body) to re-grow hair in a healthy environment. Since unrefined Shea Butter has no added chemicals, it is ideal for sensitive skin.


Skin Smoothing
Shea Butter aids in the skin’s natural collagen production and contains oleic, stearic, palmitic and linolenic acids that imag3284protect and nourish the skin to prevent drying. With long term use, many people report skin softening and strengthening as well as wrinkle reduction. It improves skin elasticity (some even say it helps with cellulite)



Cure for Eczema
Shea Butter is a beneficial treatment for eczema and other skin conditions. With continual use it will soothe and moisturize dry itchy skin while reducing flare ups and redness. Shea Butter can produce wonderful results on skin with mild eczema.

According to Jass, “When I first heard about Shea Butter, I decided to start using it on my sons skin (with all the other ingredients in my Shea Butter mixture) because he had very bad eczema. I noticed that after awhile of using the Shea Butter on his skin, his eczema started to clear up and his hair line started to grow back. He had lost his hair line due to his excessive itching on his scalp, caused by the eczema. Once I noticed how my Shea Butter mixture was working on him, I started using it on my scalp, hair and skin. After some months of doing this, the bald spot where I had alopecia started to re-grow hair. I was so amazed!



Cosmetic Ingredient
Shea Butter is used as an ingredient in some cosmetics products, typically from 4% to 20% in total. Try our 100% pure natural Shea Butter, this concentrated product will last and produce amazing results.



Pregnancy Mark Removalimag3290
Stretch mark is a natural occurrence during pregnancy and usually stay after childbirth. Shea Butter can be used alone or to prevent stretch mark during pregnancy or after (stretch mark salve) to ward off stretch marks. It has proven to clear stretch mark from many people.



Natural baby-care product
Shea Butter is now been used as a natural baby-care product (alone) or ingredient in baby care recipes. Many staff and customers affirm that the only product they use as baby care product is Shea Butter. Some give testimony that after using many renowned local and international brand names – their child end up with different skin diseases. Then, switching to Shea Butter clears all the skin diseases without any mark, even better the child begins to glow. So the whole family usually end up using Shea Butter. Hence, it’s very effective and affordable.



Protects your Hair
Shea Butter can be used as a natural sunscreen and hair protectant because there is a low amount of SPF. This can protect our hair and skin from the harmful ultraviolet rays of the sun. Shea Butter coats the hair shaft and also protects it from damage caused by chemical hair treatments, blow dryers, straighteners and other hair tools that cause damage to your hair. Shea Butter can coat and protect your hair from the salt and chlorine contained in swimming pools as well. Whatever is good for skin is good for our scalp. Shea Butter has anti-aging benefits because of it’s collagen production, which contributes to youthful skin and it keeps premature wrinkles at bay. It also restores elasticity in our skin. It soothes dry, itchy and irritated scalp, without clogging our pores, so that our hair can grow without any obstructions or hindrances.



Restores damaged hair
Since Shea Butter is rich in Vitamin A and E it can repair damaged and split ends as well as it adds moisture to dry, brittle, dull, lifeless hair. Shea Butter hydrates, softens, conditions and overall beautifies our hair. Shea Butter adds all of these awesome benefits to our hair, without leaving it greasy and heavy (based on the amount you use). Shea Butter restores moisture to hair that has been damaged from chemical hair treatments, blow dryers, straighteners and other hair tools that cause damage to your hair.



Naturally Heals
Due to Shea Butter’s nutrient dense components (including several kinds of fatty acids) has a vast amount of healing properties for skin and hair. It is very effective at healing and curing conditions that directly affect the scalp, such as: Burns, Dermatitis, Dry Skin, Eczema, Hair Conditioner, Hair & Skin, Moisturizer, Insect bites/ stings, Itchy Skin, Scars and Sores, Skin Allergies & Rashes, Skin Cracks etc

Some of the reasons why you need to use Shea Butter is for: Tough or rough skin (feet, hands, elbows, knees), Cold weather, Frostbite, Healthy skin, Muscle fatigue; aches and tension, Dry skin, Skin rash, Insect bites, Skin peeling, after tanning, Blemishes and wrinkles, Itching skin, Sunburn, Shaving cream – for a smooth silky shave, Small skin wounds, Skin cracks, Before and after strenuous exercise, Skin allergies such as a result of poison ivy or poison oak, Eczema, Dermatitis.

Shea Butter can be used for: Skin damage from heat (i.e. hot grease or water, radiation treatment for certain medical problems, etc), On the eyelids before applying makeup to make it last longer, In homemade liquid cream foundation and makeup, Relief of joint pain from swelling and arthritis, On sore/raw noses during a cold or flu, After sun or beach exposure to replenish skin, By itself on the lips or in homemade lip balms, among others.

It should be noted that Shea Butter is for external use only. Ask a doctor or dermatologist before using, especially sheabutter01with underlying skin conditions. Those with nut allergies should avoid or check with an allergist.

Shea Butter is a multi-purpose cream reknowned to improve many skin and hair conditions, infact it is possible that you may experience other healing benefits and additional uses as you begin to use Shea Butter. We would love to pass it on to others so that they may also benefit. Please note that the timeline required for optimum results varies with each condition. Wrinkles, for example, require 4 to 6 weeks of daily use. Itching may be relieved immediately.


How to Order shea butter offer customers natural Shea Butter products so you may notice some variation in texture of the finished product. Conversely, for customers that prefer a combination of Shea Butter and other natural extracts, we have a combination of Shea Butter+Coconut oil, Shea Butter+Honey, Shea Butter+Honey+Coconut oil among others.

We supply shea butter in wholesale and retail quantity to customers in: Abuja (Federal Capital Territory FCT) ,Lagos, Enugu, Akwa Ibom, Adamawa, Abia,Bauchi, Bayelsa, Benue, Borno, Cross River, Delta, Ebonyi, Edo, Ekiti, Gombe, Imo, Jigawa, Kaduna, Kano, Katsina, Kebbi, Kogi, Kwara, Nasarawa, Niger, Ogun, Ondo, Osun, Oyo, Plateau, Rivers, Sokoto, Taraba, Yobe, Zamfara. We also ship worldwide to countries such as United States of America (USA), Mozambique, China, India, United Kingdom among others.

For orders, click here, email: or call (+234) 080-9502-9999.

Have you ever used Shea Butter? How did it work for you? Share your experience in the comment box below.

Jack Ma says, “Please tell your children that the world is changing every day and no one is going to wait for you in the past. When lighter was Alibaba Group Holdings Ltd. and Founder Jack Ma As Company Files for U.S. Initial Public Offering of E-Commerce Giantinvented, matches slowly disappeared. When calculator was created, abacus was to fade away. When digital camera was designed, the market of negative film no longer existed. When direct market selling/internet-based selling arises, traditional marketing declines. When smartphone with 4G (wireless internet access) was introduced to the world, you no longer need to turn on your computer at home. When WeChat and WhatsApp (mobile text/voice/video messaging) are developed, traditional text messaging is no longer as popular as before.

Let’s not to blame “Who took over Whose business.” It’s only because people are more adjustable and adaptable to new ideas and changes in the world.

Someone asks Jack Ma, “What is your secret for success?” He says, “Really simple…I am doing (action) while you’re only watching.”

Please remember that the world keeps changing every day. If you don’t change, you’ll be left behind. You reap what 5mb ibm 64gb flash driveyou sow with your time. If you spend time to drink, you may become an alcoholic. If you spend time to complain, you may become a blamer. If you spend time to beautify yourself, you may become a pretty girl/handsome guy. If you spend time to stay healthy, you may enjoy a healthy good life. If you spend time to be picky, you may become a ‘mean’ person. If you spend time to learn, you may gain wisdom. If you spend time with your family, you may foster a warm and loving relationship with your loved ones.

The curious case of the young generations – FEMI PEDRO

Sometime in 1988, I received a call from a good friend, Mr Akin Akintoye, about an interesting investment opportunity with a few colleagues. After a series of meetings, it became very clear to me that we were about to embark on an audacious but incredibly special journey, and I was excited about the prospect of being a part of such a project. For almost 2 years, I worked alongside the likes of Akin Akintoye, Fola Adeola, Tayo Aderinokun (of blessed memory), Gbolly Osibodu, Bode Agusto and a few others on this investment project. As of 1988 when we began the journey, Fola was 34, Tayo was 33, Gbolly was 33, Bode was 33, Akin was 35 and I was 33. The objective: To own a BANK.

It was a bold objective considering our respective ages at the time, but certainly not an impossible task in our eyes. So we began to hold countless meetings at Fola’s residence in 1988, until we eventually shifted base to Tayo’s First Marina Trust office in Victoria Island. By late 1989, we were ready to put in our bank application at CBN, along with the required minimum capital. This effort was spearheaded by Fola and Tayo (the two brains behind the entire operation), and supported by about 40 persons (including myself), most of whom were in their early 30s and working for different organizations at the time. The end product? We formed arguably one of the finest financial institutions Nigeria has ever seen- Guaranty Trust Bank (known as GT Bank today). The bank was licensed on the 1st of August, 1990 and we commenced banking operations later that year. A group of young boys in their early/mid 30s OWNED a bank! We simply dreamt big, and turned this dream into reality.

I am taking the liberty to reflect on this chapter of my personal history against the backdrop of some of the criticism about the ages of some of President Muhammadu Buhari’s ministerial nominees. The argument being brandished about is that by nominating the likes of Chief Audu Ogbeh as ministers, our President is somehow blocking the destinies of younger Nigerians by preventing them from occupying such positions. People are quick to reference Yakubu Gowon and Murtala Mohammed as being relatively young when they ascended to power, and they argue that the same opportunities that young people had in the past are no longer available today. They also argue that around the same time we were forming GT Bank in the late eighties, there were also a number successful young entrepreneurs who distinguished themselves as well – Bola Tinubu (Treasurer at Mobil Oil), Gbade Ojora (ED Mobil Oil), Jim Ovia (Zenith Bank), Erastus Akingbola (Intercontinental), Dele Momodu (Publishing), Tony Elumelu (Standard Trust), Liyel Imoke (Politics), O’tega Emerhor (Standard Alliance Insurance), Aig Imoukhuede and Herbert Wigwe (Access) and Atedo Peterside (IBTC) are some of the noteworthy youngsters who made an impact in various fields in Nigeria at the time. But what some of the proponents of the argument against the older ministerial nominees fail to realize or remember is that even in my early thirties, we also had very established industrialists like MKO Abiola, Otunba Subomi Balogun, etc, who all operated during our time. We respected them, but neither felt overwhelmed by their success, nor daunted by the prospects of climbing up the ladder. We simply forged ahead with our plans and damned the consequences. The point is nobody cleared the way for us back then, so young Nigerians today should not expect that anyone would clear the way for them either.

Perhaps, at play is the venting of some on-going frustrations by the younger generation today, but it is important to put things into proper perspective. I have spent a lot of time mentoring, observing and interacting with young Nigerians. Today’s youth are no different from those of my generation about 30 years ago. They are faced with the same pressures, frustrations, uncertainties and life vicissitudes that we faced in our late twenties and early thirties. However, the marked difference is how young Nigerians apply themselves today. Most of us who made an impact in our early thirties came from modest means. We were not rich, and we did not have any noteworthy inheritance. Nobody did us any favours, and the older generation did not give us a pass or a nudge in the right direction. In fact, the military administrations at the time made it extremely difficult for us to participate optimally in business, governance and politics. We did not have social media, and there was no technology to aide our goals. We were simply big dreamers determined to make a difference. We were highly enlightened and career-oriented, so we were able to force our way through the door by working extremely hard.

So what exactly needs to change amongst young Nigerians today? First, young Nigerians have to humble themselves. You have to be willing to learn the ropes and hone your craft. Around the age of 27, I left the relative comfort of a steady career at CBN to learn under the tutelage of Otunba Subomi Balogun, the visionary and pioneer behind FCMB. Working as Otunba Subomi Balogun’s executive assistant was an experience of a lifetime. He was (and still is) a well-organized and thorough individual. He strongly promoted excellence and perfection, and did not condone indolence, laziness or poor quality work. He was also an impeccable dresser, always elegantly attired in all-white traditional wear or perfectly tailored quality suits. I picked up these virtues and adopted his style of leadership and management in my future endeavors. I was opportune to travel with him to attend corporate and other board meetings. I gained valuable and practical experiences in corporate board management and boardroom politics, which became useful tools later in my career.

Secondly, you must know your worth. Do not settle for less, and do not allow yourselves to be used by selfish political interests. Challenge the status-quo. Challenge the establishment. The youth make up a sizeable portion of the Nigerian populace. By extension, they have the loudest voices and the biggest potential. Alan Moore, a prominent British author opined that “People shouldn’t be afraid of their government. Governments should be afraid of their people”. This is especially true with regards to young Nigerians. You are more powerful than you give yourselves credit for. Our current president was victorious in large part due to the votes cast by young Nigerians, and you must continue to remind yourselves of this fact, because 2019 is already fast approaching.

Thirdly, and crucially, young Nigerians have to eliminate distractions. Do not get carried away by the allure of good living, bling, fame and fortune. Stay on the straight-and-narrow path. Distractions are the proverbial pot-holes; they slow you down from reaching your destination and damage your wheels in the process. By all accounts, social media is obviously the biggest distraction. It is a powerful tool, but can also derail you from focusing on the bigger picture. The most discerning amongst you will know how to navigate social media without hindering your ability to make significant inroads in the economic and political fabric of Nigeria. I have been impressed with what the likes of Linda Ikeji, Bellanaija, Don Jazzy, TY Bello, Jimi Mohammed, Banke Meshida-Lawal and other young Nigerians have been able to accomplish at such a young age, and it should serve as an inspiration to other young Nigerians in various fields as well.

Finally, take advantage of opportunities, no matter how small or inconsequential they may be at the time. Expect no helping handbs. And when these opportunities present themselves, grab what you can. During our cabinet meetings, my boss and mentor, Asiwaju Bola Ahmed Tinubu always quipped that “Power is never served a-la-carte”. This is indeed true in the context of where young Nigerians currently are, and where they need to be.

These are the sacrifices that the youth have to make today.

Incorporating a company in Nigeria is simple and straight forward. We intend making this easier by compiling the simple process and requirements for incorporating a private company in Nigeria. Unlike most of the information you read online and tabloids,on this subject, the authors make Nigerian company formation look seemingly complex by writing out a long list of “legal” requirements difficult to understand by the average reader.

However, it is advisable you consult a specialist such as a Lawyer who will assist you in the entire formation process.

The Companies and Allied Matters Act (CAMA) recognises 6 corporate structures in Nigeria:
1. The Business Name
2. The Private Company Limited by Shares.
3. The Public Limited Company
4. Unlimited Company
5. Company Limited by Guarantee; and
6. Incorporated Trustees.

For the purpose of this write up, however, we will be writting about the process of Incorporating a Private Company in Nigeria.


Steps for incorporating a new company at the Corporate Affairs Commission, can be summarised in the following 10 steps:

1. Submission of the proposed Company Names to the CAC. This is the first step in the entire process. The promoters of the company must decide on a company name and submit for approval. The government officials reserve the right to approve or deny company names submitted for a number of justifiable reasons – availability, suitability, legality, similarity, etc. It takes an average of 5 business days to get availability results.

2. Details of Directors. Long story short, you will be required to provide the biodata of the Directors of the proposed company. These information include: Full Names, Residential Address, Nationality, Age, Valid Identification Document and Signature of the Directors. The minimum number of directors for a private company is 2 and maximum is 50. There is no maximum for public companies. There are statutory requirements for being a director, one of which is that the directors must not be less than 18 years old.

3. Shareholders/Subscribers. The legal minimum number of shareholders in a private company in Nigeria is 2 and a maximum of 50. The shareholders subscribe to the memorandum and articles of association and are alloted shares in the company.
PS – the shareholders can also double as the directors of the company.

4. Appoint a Company Secretary. Every Nigerian company must appoint a Nigerian Company Secretary, as it has become a legal requirement. The company secretary of a private limited company needs no formal qualifications. It is the directors responsibility to ensure he/she has the appropriate knowledge and experience to act as a Secretary of the company. The company secretary could be an in-house person or an outside consultant. Some of the roles of a company secretary include:
a. Maintaining the Statutory Registers;
b. Liaison between the company and the CAC and other relevant government agencies;
c. Providing members and auditors with notice of meetings.

5. Registered Address of the Proposed Company. The company must have a Nigerian business address. This requirement needs no much explanation and not debatable either.

6. Core Areas of the company’s business activities (Nature/Objects of company). Nigerians and Non-Nigerians are allowed to carry on all forms of business provided it’s legal and not in the “negative list”. If the company will engage in specialist services (Hospital, Consultancy, Schools, Media & Advertising, etc), the directors may need to provide an evidence of professional proficiency. E.g. Certificate of a professional body/trade association, Academic Certificate, or both.

7. Valid Identification. Although I have stated this requirement earlier. It is worthy of mention here again. A photocopy of Identification of all the directors is required. (e.g. National ID card, Data Page of your National Passport, Voter’s Card or Driver’s License).

8. The Company’s Share Capital and Allotment. In simple terms, the share capital of a company (usually in monetary terms), is the amount of capital the subscribers have to carry on the business. The minimum share capital of a private company must not be less than N10,000. However, for economic reasons, it is advisable that an average Nigerian company incorporate a N1,000,000 share capital company. A company’s share capital is also industy-dependent. For example, advertising agencies must have at least N10 million as share capital. The law also stipulates a minimum of N10 million share capital for a Nigerian company with foreign ownership. Your regulator or adviser should advice you appropriately. A minimum of 25% of the authorized sharecapital must be subscribed and paid for.

Once the issue of share capital have been decided on, then the subscribers must also decide on alloting the shares. If there are 2 persons that formed the company, they could share it 50% each.

9. Draft the Memorandum of Understanding and Articles of Association (MEMART). This is a legal document that spells out the business objectives and the framework on which the company intends to run its business within the acceptance of the law. This legal document also shows the particulars of the shareholders and their shares allotment.

10. Payment of Stamp Duty and Statutory Filling Fees. The total fees payable to the Stamp Duty office and the Corporate Affairs Commission is dependent on the company’s share capital.

These are the basic requirements for incorporating a private limited liability company in Nigeria. However, EXPATRIATES are subjected to additional requirements and laws – Nigerian Investments Promotion Act, Immigration Act, Investment and Security Act, and Foreign Exchange and Monitoring Act.

Duration of Incorporation at the Corporate Affairs Commission

As at the time of writing this blog post, the average turnaround time to receive a Certificate of Incorporation and Certified True Copies of your documents at the CAC is 3 weeks.

Come and setup a company in Nigeria – Africa’s most populous nation – a business destination for many investors.
To incorporate your company, you can contact us to facilitate this for you, email: or call (+234)080-9502-9999


Passionate about growing your business
Welcome to FirstBank SME Connect. At FirstBank, we are passionate about helping your business grow on all fronts. Beyond financial support, we offer you strategic advisory services, business seminars periodic updates as well as information that will guide you in growing your business. Our scope of SME services cover small/medium scale manufacturing firms, merchants (suppliers, distributors etc), professional firms(law, consulting, audit etc), agricultural , Churches, Mosques, NGO’s whose annual debit turnover is between N5M and N500M.


About SME

Small and Medium Sized Enterprises (SMEs) as defined by the Central Bank of Nigeria (CBN) are economically independent companies with about 11 to 300 employees and an annual debit turnover of between N5million to N500 million.

The main factors determining whether a company is an SME are::

  • Number of employees
  • Annual debit turnover

Why are SME important?

SMEs are responsible for the majority of new jobs created in Nigeria and they are crucial to Nigeria’s success in the global economy.

  • For Government, SMEs, contribute to wealth creation and generate tax revenues
  • In business, SMEs represent an important source of innovation
  • In the society, they are an important source of employment
  • They drive consumption at the lower levels because they operate in every sector of the economy
  • SMEs have extensive local knowledge of resources, supply patterns and purchasing trends
  • SMEs constitute an important source of local supply and service provisions to larger corporations.
  • They make significant contribution to the revenue profile of most financial institutions
  • SMEs stimulate growth and development within the economy


How do you classify an SME?

SMEs can be classified as follows:

  • Small/medium scale manufacturing firms.
  • Small/medium retail merchants (suppliers, distributors, etc.)
  • Professional firms (law, consulting, audit, etc.)
  • Small/medium scale agricultural firms.
  • Churches, mosques and NGO.

Key challenges faced by SMEs in Nigeria

  • Poor capital structure
  • High cost of production
  • Limited access to long term funds
  • Poor business continuity/succession plan
  • Weak value chain: supply, distribution, logistics, time to market etc
  • Poor managerial and technical skills
  • Lack of access to international markets
  • Sole Proprietorship
  • Labour intensive production processes
  • Keyman risk


How does First Bank SME Connect support SMEs in Nigeria?

  • First Bank is committed to providing the Nigerian SME’S with the support needed for growth
  • SME Connect is created to bring under one umbrella relevant resources, products and services aimed at helping SMEs in Nigeria.
  • First Bank has tailor-made products targeted at the specific needs of SMEs in Nigeria. These loan products have been designed for financing the activities of Small and Medium Enterprises (SMEs) under the U-First Scheme.
  • First Bank also provides Business Advisory and Support services and business oriented credit access
  • Location
  • Customer/market
  • Competition
  • Financing structure
  • Access/Availability of Raw Materials
  • Sales/cashflow projections
  • Marketing/Distribution/Logistics
  • Business Strategic Plan

For inquiries, financing and support, contact an Financial consultant at: or call (+234) 080-9502-9999

Over the years, the Etisalat group has grown unrivaled capabilities to develop and deploy effective telecommunication services to
the business market. This is why across the countries where we operate, our brand has become synonymous with premium telecom solutions and excellent customer service. The uniqueness of our offerings is built on the following values.

  • In-depth appraisal of Corporate operations, cost drivers, future growth areas, etc.
  • Customized solutions based on need, strategy thrust and existing gaps
  • Regular evaluation/update of deplored solutions
  • 24/7 support and Account management
  • Corporate Solutions


Classic Postpaid :
Classic postpaid is a fully packed post-paid package from Etisalat, the innovative network that cares. The package is designed for our corporate, SME and high net worth individuals. Subscribers to this package only pay for what they use out of their credit limit.

The advantages of belonging to Elite Classic are myriad. From simple benefits such as an easy-to-understand contract package to a whole world of exclusive handsets and SIM options that make the world your playground, Elite Classic is tailored to fit your vibrant, executive and busy lifestyles.


Corporate Data :
is our data solution designed for small and medium enterprises, high value clients, corporate clients and large organizations. etisalatSubscribers will get a monthly push of the Data and SMS bundle they subscribe to and will be billed based on the MMP selected and additional usage from the credit account if applicable. The amount in the credit account will be based on the credit category selected at provisioning. Data usage outside the bundle will be billed at the standard Elite World Post-Paid rate of 15K/KB .


BlackBerry Enterprise Server Express :
Get more out of your BlackBerry by using a BlackBerry Enterprise Server Express
Works on any type of BlackBerry service plan (BIS, BES and BES+)
FREE software download including FREE CALLs
Includes the latest end user features for new 5.0 OS platform
Supports Microsoft Exchange (2003, 2007, 2010) or Windows Small Business Server (2003, 2008)
Provides many features of BES, with 35+ IT policies for enterprise users
– Supports up to 75 users when installed on the mail server eliminating the requirement to purchase additional hardware
– No need to upgrade your mail server to get the BlackBerry Enterprise Server Express wireless experience .


The Toll Free Service :
is a corporate client/SME only postpaid product offered by Etisalat where the subscriber pays for calls made to his toll free line. Boost response rate for direct marketing and Make your number easier to remember e.g. 0809 9JA BIZZ is a corporate client/SME only postpaid product offered by Etisalat where the subscriber pays for calls made to his toll free line. Boost response rate for direct marketing and Make your number easier to remember e.g. 0809 9JA BIZZ
Provide better customer service
Attract more customers by giving an air of professionalism
Increase confidence in the security of financial transactions with your company
It is a service available to clients who want customers to call them for free to inquire information.


The Bulk Messaging Solution :
It is to cater to the need for an automated and robust bulk messaging service within etisalat, by enterprise users, by Mobile Application Service Providers (MASPs), and by end users (etisalat subscribers). It provides an easy to use and flexible interface for bulk messaging to Etisalat customers. Bulk Messaging Platform will support following message formats for sending bulk campaigns or single messages and should be configurable.

• SMS • MMS • USSD • Flash Messages • Long SMS • OTA • Email • WAP Push
SME Solutions


EasyBusiness :
prepaid package is targeted at Small and Medium Enterprises with a minimum of 3 staff.
You and your emplyees can enjoy free calls and sms to one another within your group, low international call rates and free internet on specific easybusiness bundle packages.
Easy Business is tailored to fit your business and busy lifestyles and provide huge savings on your communication cost. Get on board and enjoy this exciting offer from Etisalat.


EasyAdz :
(etisalat Mobile Advertising) is a free, permission-based, preference, targeted mobile advertising service. It offers subscribers valuable information on discounts, deals, news, events, and freebies from Brands they are interested in. EasyAdz is absolutely free to subscribers, thus subscribers opt-in, receive Ads or opt-out for free. The channels for mobile advertising can be SMS, MMS, USSD, Web, Wap, Audio, Apps, Mobile TV and Video.


Business Ring Back Tune :
Business RBT is a marketing and communication channel designed for companies and organisations to advertise their products and offerings while potential customers wait for their calls to be answered by the company’s staff.


Number Proposition :
Distinctive and unique number made to be memorable for the businesses main contact line e.g. 08092000000 or 0817300002- 309
Memorable, unique identifier, increased customer awareness



The Elite World SME prepaid package is targeted at Small and Medium Enterprises with a minimum of 3 staff.
This package is bundled with 500 FREE minutes and 100 FREE SMS monthly within a selected Closed User Group (CUG) and a national call rate of 25k/sec to all networks in 9ja. To enjoy the CUG package, all an SME needs to do is purchase a minimum of 3 Elite World SME prepaid lines and pay a monthly commitment fee of N1,000 per line. The default tariff of 50k/sec to all networks will apply following any failure to pay the monthly upfront commitment of N1,000. Subscribers will also enjoy calls to 5 international destinations (US, UK landline, China, India & Canada) at 20k/sec.

This package also has other unique features, they include:


VIP caller service – A free service which allows you restrict specific numbers from reaching your mobile line. This feature comprises of two unique lists, the White List & the Black List, the white list service allows you receive calls only from people in a pre-selected group  while the black list service allows you receive calls from everyone except the pre-selected black list group, when you blacklist a number, it will not be able to reach you


Credit transfer – This service allows you transfer airtime from your phone to other Etisalat lines


Recharge others –This service allows you recharge other Etisalat lines from your Etisalat SME prepaid line

Elite World SME prepaid is tailored to fit your business and busy lifestyles and provide huge savings on your communication cost. Get on board and enjoy this exciting offer from Etisalat!

Welcome to the Elite World SME Prepaid Package from Etisalat.


Elite World SME prepaid is a cost effective package for Small and Medium Enterprises and has been specifically designed and packaged to meet the unique needs of Entrepreneurs and business customers.

For more enquiries, please send us an email on

Kwara State is located in north western Nigeria. The main ethnic groups are Fulanis, Nupes, Barubas and Yoruba. The state is hugely involved in agriculture and the principlal crops are: Cotton, Cocoa, Coffee, Kolanut, tobacco, Benseed and Palm produce. Mineral resources abound in Kwara state namely limestone, marble, feldspar, clay, kaolin, quartz and granite rocks.Kwara State is one of the most peaceful states in Nigeria and with Ilorin as the state capital, its borders both Niger and Kebbi States in the north while it shares border with Kogi, Osun, Oyo and Ekiti States in the south. Kwara state has a very rich and highly interesting cultural heritage, Among these are Durbar associated with Edu. The durbar is usually held in honour of a new Emir or chief, to welcome august visitors and on muslim festivals. There is also the Pategi Regatta which is an annual festival featuring boat displays, fishing and swimming competitions.

It possesses several fascinating historical and cultural monuments, which include the Esie Stone images at Esie, in Irepodun L.G.A. of the state. The stones were said to have been discovered in the 17th century. Others are the spectacular Owu Falls at Owa Kajola, in Ifelodun Local Government Area; the remains of Mungo Park’s wrecked boat – the `D Spring’ and Mungo

Park’s Monument both at Jebba, Okuta Ilorin, from where the capital was derived, the Jebba Dam which is one of the major sources of hydro-electric.


This is one of the highest and most spectacular waterfalls in West africa and is sometimes referred to as ‘WONDER IN THE WILDERNESS’. It cascades from a height of about 120 meters to form a pool of ice cold water at the base. The site has a beautiful landscape and offers visitors a refreshing atmosphere.

This is held annually at Shao, in remembrance of Awo goddess. During the festival all marriageable girls are given out in marriage in one day.


This is held in remembrance of the dead ancestors hold every year among the Igbomina people. It usually features dancing by masquerades for five to nine days.


These stones were said to have been discovered in the 17th century.

Other places of interest OWE KAJITA FALLS


For your accommodation, below here are the Hotels in Kwara State:

Center Hotel
13, Orota Way,
Opposite Yidi,

Circular Hotels Ltd.
New Yidi Road,
Tel:031-220845, 220846

Kwara Hotel Limited
9A, Ahmadu Bello Avenue G.R.A.
Tel: 031-221490-94, 221698-99

White House Hotels
Km 5, Lagos Road,
Box 1273, Ilorin.
Tel: 031-222770

Basin Road Hotel
Fate South, P.O. Box 1273, IIorin.
Tel: 031-222016

Grand Guest House
Tel: 031-22277

Lafun Guest House
G.R.A. Omu-Aran, Irepodun L.G.A.,
Kwara State.

Regatta Palace Hotel
14, Reservation Road, IIorin.
Tel: 031-225445

Satellite Motel
Western Reservoir Road, IIorin.
Tel: 031-220244

White-House Hotels
225, Umaru Sao/Lagos Road,
Sawmill, (West), P.O. Box 744,
Tel: 031-22770

Yebumot Hotels
Plot 6119, Western Reservation Rd.
Tel: 031-221524

For more information, contact us.

The Nigerian Stock Exchange (NSE) yesterday launched a whistle-blowing portal (NSE X-Whistle) that will enable operators, investors and other stakeholders, disclose information aimed checking market infractions and protecting investors.

Speaking at the launch of the initiative in Lagos, General Manager Legal & Regulation Division, Ms.Tinu Awe, said it is part of the five pillars of the NSE management meant to transform the exchange into a world class market.

According to her, the X-Whistle is a secure, online portal through which information can be disclosed to the exchange, adding that a whistle blower may not necessarily be directly or personally affected by the matter being reported.

She said through the X-Whistle, the NSE protect investors’ interest in the market.
She said the introduction of X-Whistle will bring more integrity, transparency to the market and make more people feel confidence to invest in it.

“The portal will permit the whistle-blower to perform a status check on the matters they have reported on X-Whistle. The whistle blower rarely has a personal interest in the outcome of any investigation into violations disclosed. As a result, the whistle blower is not expected to prove his or her case, rather he or she raises the concern so others can address it,” Awe said.

She explained that in order to enhance the exchange’s market surveillance capacities, the NSE recently joined International Surveillance Group (ISG) as a means of leveraging global best practices and sharing of critical market trends.

Awe called for support for the initiative, saying “If the exchange is not aware that violations have occurred, are occurring or about to occur, it cannot take appropriate action. But actions taken on such information lead to the promotion of investor confidence in the capital market.”
Meanwhile, trading at the stock market closed in the red as investors adopted cautious trading ahead of the Central Bank of Nigeria (CBN)’s Monetary Policy Committee (MPC) meeting in Abuja. The NSE All-Share Index declined 0.50 per cent to close at 37,601.53.


Growth of Commercial Sector Infrastructurekwara_logo

Three key facilities are set to improve the commercial landscape in Kwara State

Significant opportunities exist for private operators to become involved in developing the commercial sector as diverse as aviation (International Aviation College), logistics (Truck Plaza), and retail (shopping mall).
Aviation (International Aviation College)

The International Aviation college, which has since the past year, begun operation in Ilorin, the State Capital, is poised to be a pace setter in the aviation sector in the country.

Kwara State is responsible for the initial financial outlay to establish the International Aviation College (IAC) but intends seeking private investors to take equity in the undertaking once it is up and running.

The college will train pilots of all sorts. International demand for pilots is very high and demand is expected to remain strong. The number of airlines operating in Nigeria has increased exponentially in recent years. The specialist training needed for helicopter piloting (a skill very much in demand in the oil industry in Nigeria) will also be offered.

The final state percentage of ownership is intended to rest at 50%, with various private entities holding shares. In this way, the state will recoup some of its investment while at the same time bringing in the expertise of investors and partners.
Contracts have been signed with instructors and aviation academy specialists in the United Arab Emirates with regard to the phasing in of classes and the management of the facility. Thirteen instructors have received training in South Africa in preparation for the opening of the college. In a related development, the Nigerian Air Force will establish a maintenance base in Ilorin.

Italian company Alenia Aeronautics will manage the project that will be rolled out in the course of 2010. The hangar will be available to private airlines and will contribute to the development of the aviation industry in Kwara State. The maintenance hangar will help to spark developments in associated engineering and commercial fields by creating opportunities for smaller local companies to compete for subcontracts.

Retail (shopping mall)
Location and extent

The site extends over three hectares on Fate Road, Ilorin, in the South Local Government Area.


The Kwara State Government intends to be a 30% shareholder in the project (N500-million, excluding the value of the land], with the balance of equity divided between various private investors. Attractive incentives are in place to make investing in the project worthwhile. The demand for formal retail is strong and good returns are expected. A SPV (Special Purpose Vehicle] will be created where the Kwara State Government and partners will form a company to be called Kwara Mall Develop Centre.

Potential tenants

Banks, cinemas and supermarkets are in line to be the anchor tenants. Major retailer Shoprite (which has more than 950 stores across Africa] has expressed its intention to participate. Fast food restaurants include Mr Biggs, Chicken Capitol, Chicken Republic and others. Shops will include jewellery, fashion, furniture, household goods and pharmacy outlets. Medical doctors will have their consulting rooms in the mall and there will be medical clinics.

Construction and financing

Persianas Investment limited is the state government’s partner in delivering the N3-billion project. This company was the lead developer in the consortium that built the highly successful Palms project in Lagos. Some of alliances concluded to deliver the entire project are with FCMB, Julius Berger and Chapel & Hill.


The shopping mall will be enclosed with a substantial car park. It will be fully air-conditioned and fully powered up either through PHCN [Power Holding Company of Nigeria) or through an alternative energy source.

Projected benefits

Increased trade within the state with shoppers no longer travelling to Lagos for monthly shopping. The mall and its tenants will create employment opportunities. The area around the malls expected to experience rapid development, with an attendant spike in property values. The multiplier effect within the city of Ilorin and the state will be high, especially as the per capita income of Kwarans has been rising steadily over the last seven years; the timing of this retail development dovetails well with this general economic trend.


A memorandum of understanding [MOU) has been signed. Construction work was expected to begin in 2010 with completion set for December 2010. The design, costing and financial information phases have all been completed. The state will hand over management of the centre to a professional management company.

Logistics (Truck Plaza)

A 90-hectare site is being developed near Ilorin International Airport as a Truck Plaza to take advantage of Kwara State strategic location. Maintenance facilities, fuel depots and accommodation units are planned.

Private investors have an excellent opportunity to earn excellent returns in the development of a Truck Plaza as part of the state’s broader aim of positioning itself as a regional and national transport hub. Kwara’s central location with respect to the rest of the country is enhanced by its strategic position close enough to the bustling metropolis of Lagos to ensure quick delivery of goods but far enough away from the congestion of that area to be able to ensure rapid deployment of those goods to other parts of the federation.

A 90-hectare site is being developed near the Ilorin International Airport to centralise and control the through-put of trucks from all parts of Kwara State and beyond. Private developers of every sort associated with the transport, tracking and logistics sectors are sought.

Facilities that will be available at the truck plaza

  •  Truck parking area
  • Fuel and service centre
  • Truckers Village
  • Clinic
  • Fire Station
  • Truck and bus washing bay
  • Bus and car parking area
  • Emergency tow service
  • Motels
  • Eateries and cafeteria facilities

Specific areas of the truck plaza where private-sector investment is required

  • Fuel and service centre
  • Motels and other accommodation facilities
  • Eateries and cafeteria facilities
  • Truck maintenance workshop
  • Main plaza

 Firm Foundation for Investment

Kwara State offers excellent supporting infrastructure aimed at creating an environment that is conducive to investment and business.

Adequate Infrastructure plays a vital role to any investor looking to start a business. Basic physical and organizational structures are needed for the profitable and efficient operation of any commercial venture.

Kwara State has put in considerable effort to improve vital areas such as transport, power generation and distribution, water supply, information and communication technology (ICT) and the provision of healthcare services, to name a few, in order to provide a conducive environment for business. Despite the achievements, the current administration realises that a lot of work still needs to be done to bring its infrastructure up to world standards.


 Ganmo Power substation

Sufficient and reliable power supply is of utmost importance to anyone looking to do business in Nigeria. Kwara State has made significant progress in this regard by completing a new substation and improving distribution and transmission. The recent completion of the 330/1.32/33KV substation at Ganmo is a great success story. The state capital Ilorin currently enjoys close to 24 hours of uninterrupted power supply a day and businesses in the area hardly ever have to make use of generators, saving them a considerable amount of money. Because of the Ganmo facility, power supply in the state, which used to be between 30 and 40 megawatts per day, a typical scenario for most parts of Nigeria, improved dramatically to between 80 and 90 megawatts per day.

In the area of rural electrification, many remote areas and villages have received power, including the ‘New Nigerian Farmers’ in Shonga. To maintain the leverage that the state currently enjoys, the state government has begun to invest in a transmission and distribution programme. Contracts have already been awarded for the supply and installation of six 15MWA 33/11KV transformers. The state government is willing to provide adequate power supply to any new business investment in the state.

Industrialists Commend Stable Power Supply In Kwara State

Mr. Arowolo Johnson,
Personnel/Admin Manager,
Tuyil Pharmaceutical Company Nig. Ltd, Ilorin.

We at Tuyil will forever be grateful to the Governor Bukola Saraki administration for its initiative in the area of stabilizing power supply in the state. This has paid off greatly.

Before the Ganmo Power Project came, we consumed nothing less than 10 drums of diesel monthly. But now with unprecedented stable power supply, we hardly use one drum of diesel within the same period. This is quite salutary.

We have many reasons to be grateful to the present administration: Apart from the fact that private power generation for industries is capital intensive, we have also since discovered that the use of generator often adversely affect our machines. Only a stable power supply ensured by the PHCN is good for the health of our machines.

The stable power supply has also increased our production level and has equally broadened our market base. We have developed from about five products at inception to about 82 products presently. We also have about 22 depots across the country.

We expect that very soon the cargo terminal will take off so as to reduce the challenges we face in transporting our cargos from the Lagos port by road.
Mr. Mokeke Jude,
Human Resources/Admin Manager,
Dangote Flour Mills, Ilorin.

Power supply has improved since early last year (2009). And you will agree with me that that was when the Ganmo Power Station was energized. This improvement is incontrovertible as even the most incurable cynic will admit this phenomenal improvement.

Our reliance on the PHCN power supply is quite on the high side because of our operations. Now our reliance rate on the PHCN power is about 88%. We use our generators sparingly to source for the remaining 12%.

The private sector community of the Nigerian economy has positively identified Kwara State as an emerging investors’ destination with great potentials still waiting to be tapped. This is why companies, industries are presently trooping to the state.

Stable power supply and a secured atmosphere which have become Kwara State’s middle names are great assets in industrial circle.

This new regime of stable power supply has helped our production level. Presently, we are increasing our production level from 500 tons to 1,000 tons daily. This development has its multiple advantages for us as a company – increase in output and turnover, and increase in number of factory hands needed – which are drawn from the host communities.

This present government has done very well. We only hope the next administration will be able to sustain this high level performance.

Engr. Yahaya Hussein,
KAM WILL Industry Nig. Ltd, Asa Dam, Road, Ilorin.

I must be honest with you, we are grateful to the Governor Bukola Saraki administration. He has done commendably well on the issue of power supply. Power Supply has improved significantly since the commissioning of the Ganmo Power Project. We particularly started experiencing this in January this year. Before January 2010, we used to enjoy power supply between 15 to 17 hours daily. But now, it has hopped up to between 22 to 23 hours daily. You will agree with me that in the Nigeria of today, this is quite significant.

The development has also drastically cut down on our diesel consumption often needed to power our generators in times of power outage which were incessant before January this year. But we must add that we still occasionally experience fluctuations, which we learnt is being attended to. And in domestic power supply, there is still more to be done in the area of distribution as some areas in Ilorin are still being subjected to shifts. For instance, where I live in Ilorin enjoys electricity between 8 to 10 hours daily. But admittedly, power supply has improved appreciably.

…And The Saw Millers Too.

Mallam Ibrahim Isa,
Irewolede Saw Mill, Ilorin

We are presently enjoying a steady power supply like never before. I have been in the saw milling business for about 40 years now. The regular power supply we enjoy in this place presently is unprecedented.

The volume of business is so much that we, at times, turn back customers because we work from dawn to dusk. However, this wouldn’t have been possible without a stable power supply.

Here we enjoy everything – a brand new, high powered transformer, stable power supply; all these have combined to engender a boom in business for us. We cannot thank Governor Bukola Saraki enough. We wish it were possible to prolong the tenure of this administration for another fresh term. However, we pray the coming administration will be able to sustain this laudable legacy of Governor Saraki.

Airport and cargo terminal

Ilorin International Airport Cargo Terminal

Ilorin International Airport has been upgraded with a new terminal building and other modern facilities. A recently completed cargo terminal at the airport allows investors to import and export goods via air. The facility gives Kwara State a significant competitive advantage over other areas in Nigeria. The terminal has been built especially to export agricultural produce from the state but it will also cater for the rest of Nigeria’s cargo needs.

It is indeed on record that the cargo terminal in Ilorin is the only one in the country equipped with a wet-station purposely built to ensure effective transit-storage of agro-products from our Commercial farms situated here in Kwara State

The Kwara State Government wants to establish the state as a cargo hub, competing directly with Lagos. More than half the goods arriving in Lagos are not destined for Lagos itself but for the rest of the country. Because of Kwara State’s central location, goods can now be directly brought into Ilorin, and trucked to other parts of Nigeria, saving importers time and money. Customs clearance at “Ilorin is also much quicker than Lagos with officials on standby 24 hours a day.

During a trial run using a temporary cargo shed, the New Nigeria Farmers at Shonga brought in 800 Jersey cattle from South Africa. The airport has also received a load of cargo from Dubai. One of the state’s major industrial concerns, furniture manufacturer Kwara Ethnix Designs, has recently indicated it is working towards exporting goods directly to Europe from Ilorin International Airport, utilising its cargo handling facilities.


A flyover in the center of the state capital has greatly reduced congestion

Kwara State’s road network has seen great improvements in recent years. Most of the major roads in the state have been upgraded, although this is a work in progress. In Ilorin, the major arterial roads have also been improved and a new flyover in the centre of the state capital has greatly reduced congestion. The Kwara Traffic Management Authority ensures the smooth flow of traffic in Ilorin, especially along certain roads that have been identified as highly prone to congestion.

 Financial services

Kwara State has numerous banks and financial institutions that are ready to assist investors and businesspeople. Most major banks have branches in Kwara State and investors have access to most bank services. The Kwara Microfinance Bank complements the activities of existing microfinance banks to provide credit to small businesses and cooperative groups.

The recent opening of the Ilorin branch of the Nigerian Stock Exchange is evidence of Kwara State’s growing importance in the country’s financial-services sector. Since the opening of the branch, a number of stock-broking firms have also set up shop in the state.

ICT services

Most of Nigeria’s main mobile operators have base stations in Kwara State’s major cities and many have started to connect the more rural areas of the state. When the New Nigerian Farmers settled in the state, the current administration collaborated with Globacom to provide mobile services to the farms. Although the arrival of mobile telephony has boosted the state’s economy and created employment, the administration has called on operators to further improve their services. Businesses can subscribe to Internet access through various service providers and Internet cafes are found across the state.


Kwara State is proud of the fact that it is one of the most peaceful states in Nigeria. Although the state hosts a wide variety of people with different religions and cultural heritage, there is a sense of mutual respect among the population.

To further improve security in the state, the administration has recently installed close-circuit television (CCTV) cameras in the capital Ilorin. New solar-powered street lights have also been introduced to boost security at night.

Water supply

Water supply is one of the major challenges facing all of Nigeria’s rural areas and Kwara State is no exception. While the region has sufficient water resources to meet the needs of the people, many are still not enjoying the benefits of potable water. Historically, water infrastructure such as waterworks, storage reservoirs, pumps stations and distribution networks has been poorly maintained. The current administration has shown its commitment to turning the situation around by rehabilitating waterworks, drilling new hand-pumped boreholes, installing solar-powered mini-motorised boreholes, improving the pipeline distribution network and purchasing water treatment chemicals.

The state government believes water is a major factor in achieving key development objectives especially in the areas of health, education and poverty reduction. It is therefore willing to partner with all stakeholders at national and international levels in meeting this all-important challenge.


 Modern sprinkler systems installed in Shonga Farm

Another important part of water supply is providing irrigation for agriculture. A project to provide the New Nigerian Farmers in Shonga with adequate irrigation is nearing completion. CGC Nigeria limited has been awarded the contract to build a pipeline system stretching from the River Niger to the individual farms. Modern sprinkler systems have already been acquired and will make a significant difference to the crop yields at the Shonga farms. Small-scale irrigation projects have also been established in various local Government Areas to assist small-scale farmers.


Investors in Kwara State will find adequate healthcare services. Being a qualified medical doctor himself, the Kwara State Governor, His Excellency Or Bukola Saraki, is placing a great emphasis on healthcare. Hospitals have been upgraded, drugs have been distributed and modern hospital equipment has been procured.

The state is partnering with Medequip Medical Services to construct one of its flagship healthcare facilities – the Central Diagnostic Centre. The facility will provide sophisticated laboratory investigations, pathology and imaging services such as CAT scan and mammography. The centre will not only serve both public and private hospitals in Kwara State but institutions across the entire country. The revenue potential of this initiative, apart from the health benefits, is indeed enormous.

One of the other steps that has been taken to improve healthcare is the establishment of an oxygen plant at the Sobi Specialist Hospital. The oxygen produced is important for surgical and emergency procedures. Through the Malaria-Free Kwara programme, insecticide-treated nets and free malaria drugs are being distributed.
Ilorin International Airport Cargo Terminal
The Cargo Terminal at Ilorin International Airport will provide a huge boost for importers and exporters

The Ilorin International Airport Cargo Terminal is a major innovation and a significant factor in the outward-looking policies of the administration of Kwara State. The year 2010 will see this facility in full use. The implications of this modern facility being at full capacity for the state of Kwara and the Federal Republic of Nigeria are expected to be great, as indeed they may be for the whole of West Africa.

The cargo terminal is designed to support the broader economic policies of Kwara State, and in particular the agricultural plans. These take a holistic view of the agricultural cycle, and support primary producers, transporters and companies that add value later in the cycle through processing. The modern
Cargo Terminal supports this comprehensive approach as it allows for the export of fresh produce (because of the cold-storage and wet facilities at the terminal], the export of processed agricultural products (because of the large storage areas] and the import of materials and equipment needed for the support of the agricultural sector. Designed to take the strain off the massively busy airport at Lagos, the Cargo Terminal in Kwara State aims to take advantage of the state’s already advantageous, central, position. Good road links south to Lagos connect the state with the most populous region in Nigeria, but crucially link to the central and northern parts of the federation without the congestion associated with the south-western sector. The Cargo Terminal is expected to serve the five other states in the North-Central zone (Niger, Kogi, Nasarawa, Plateau and Benu~) together with all of the states in the North-West zone (Kebbi, Sokoto, Zamfara, Katsina, Kaduna, Kano and Jigawa]. In addition, Kwara is well located in relation to the nation’s capital, Abuja.
The primary product to be handled out of the new terminal in the first phase will be the agricultural produce of the Shonga farms. This includes dairy products, poultry and cassava. Many other crops have great potential, as does the horticultural sector.
Cut flowers are an extremely lucrative market. Now that the Cargo Terminal has up-to-date refrigeration facilities, Kwara State entrepreneurs will be in a position to exploit the fact that the main centres of Europe are within a six-hour flight from lIorin International Airport. The airport is currently accepting and forwarding cargo to South Africa and the United Arab Emirates and will be extending this profile over time.
The lIorin International Airport Cargo Terminal will give exporters and importers a competitive advantage, especially as customs officials are destined to be on duty all day and all night. This will significantly reduce time spent on paper-work and allow for the expeditious handling of goods. In the case of the companies exporting time.

  • Cargo Terminal facts
  • Capacity
  • Import Cargo Shed: 1260 cubic metres
  • Export Cargo Shed: 1260 cubic metres
  • Equipment on site
  • Fire-fighting vehicles
  • Security patrol vehicles
  • Water Tanker
  • Airfield recovery equipment
  • Screening machine (Cargo)
  • Airfield ground control equipment
  • Trolley (stainless steel)
  • Ramp handling services equipment
  • Cargo aircraft night handling equipment (15 KVA inverter)
  •  Wet cargo facilities
  • Weighing scales
  • Stainless-steel system
  • UV dryer
  • Ice machine
  • High-pressure cleaner
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