Nigeria’s 1st Qtr 2016 Capital-importation Drops To All-time Low

ABUJA: Nigeria spent a total of $710.97 million in capital importation in the first quarter of 2016. The National Bureau of Statistics, NBS in its latest release on Nigerian Capital Importation report for Q1 2016, showed that the amount in spent in the quarter under review was the lowest level since the series began in 2007. This according to the bureau represents a decline of 54.34 per cent since the final quarter of 2015, and a year on year decline of 73.79 per cent.
The report further showed that both the quarterly and year on year declines in the period in view were also the lowest recorded since the series began. As a result of these changes, total capital importation declined by 89.13 per cent since its peak level in the third quarter of 2014. The scale of the decline in capital importation in the first quarter of 2016 is said to be symptomatic of the challenging period that the Nigerian economy is going through, following the fall in crude oil prices.
Although, the report indicated a number of reasons why the amount of capital imported in recent years may have been higher than usual (such as the inclusion of Nigerian in the JP Morgan Bond Index, and globally low interest rates triggering a search for higher yields over this period), NBS reasoned the fact that the amount of capital import has dropped to a record low suggests that there are further reasons why Nigeria has attracted less foreign investment in recent quarters.

The bureau is of the view that Investors may be concerned about whether or not they will be able to repatriate the earnings from their investments, given the current controls on the exchange rate. In addition, as growth has slowed in recent quarters, adding that there may be concerns about the profitability of such investments. According to NBS, the first quarter of 2016 also saw a large change in the composition of capital imported.

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A young man of African origin born to a Nigerian family. He grew up to be a project manger turned IT technician. Well experienced IT management professional and business analyst with strong business and project management background across diverse industry. Over twenty years providing IT support to clients in Nigeria and United Kingdom. Professional Background Business process analysis and consultancy. Provision of strategic advice to clients on various business issues ranging from procurement, IT, organization and simplification of work processes to ultimately applying systems approach to provide satisfactory solution to business needs. Proficiency in use of Microsoft Windows Applications, Graphics Applications, etc., General Software Trouble Shooting and Installation, PC trouble shooting, repairs and upgrading. CORE COMPETENCIES ▪ Troubleshooting ▪ Procuring IT Equipment ▪ Desktop Computing Support ▪ Risk Assessment ▪ Disaster Recovery and Contingency Planning ▪ Cost Benefits Analysis ▪ First Line Technical Assistance ▪ Helpdesk Support ▪ Customer Relationship Management ▪ LAN/WAN Network Administration ▪ Hardware and Software Repairs ▪ System Security ▪ Automated Hardware ▪ Data Integrity and Recovery ▪ Content Management Systems ▪ Web Development ▪ Web Administration ▪ Data Configurations ▪ KEY SKILLS AND ACHIEVEMENTS  Understanding Client Needs, Process Streamlining and Reference SOP Creation – Hands-on experience in reviewing personnel mobilisation process along with their IT needs from arrival to demobilisation. Consequently produced a document to easily capture client’s IT requirement as a guide to managing overall departmental/project IT budget. Successfully provided technical assistance by proactively identifying and resolving hardware and software issues. Notified clients/customers in cases of any possible delay in service; also proposed well-defined timeline for resolution of problems. Created spreadsheets as a reference for all standard operating procedures as well as preparing checklist to effectively manage project deliverables and budget.  Proactive Continuous Process Improvement and Cross-Functional Team Integration – Track record of success in resolving remote assistance delivery/network issues that existed for over ten years. Instrumental in developing and implementing new technology to connect and rectify computer issues at remote locations, further enabling support engineers to resolve maximum service request resulting in saving travelling time/cost and improved turnaround time to attain maximum up time.  Incident Management, Quality SLA Delivery and Timeliness – Played an integral role in ensuring successful transfer/relocation of OFON2 project; easily shared folder from Paris (Headquarters) to the Nigerian affiliate including user access control list within SLA. Consistently delivered incident resolution within SLA in 2 months of joining service.  Service Excellence and Project Awarded – Proven record of working as a best serving youth corps member of the Shell Petroleum Development Company of Nigeria Ltd.; obtained a service contract to setup a sub-warehouse/inventory — along with a retired company staff. Significant work experience in effectively delivering first post service contract which was rewarded with a recommendation for registration as an independent procurement agent/supplier. At Total Exploration and Production Nigeria, recommended by the project control manager for direct hire in the first year of engagement for outstanding performance. WORK EXPERIENCE IT Support & Integrated Services | Emex Consult, Leventis Building, 6 Azikiwe Road, Port Harcourt, Nigeria Oct 2015  Oversee the procurement, building, sales and repairs of PC (Desktop and Laptop).  Provision of website development and e-marketing services.  Ensure that customers’ websites are administered in accordance with industrial best practice, with timely deployment of content management systems and updates of relevant extensions.  Provide optimal customer services and administer all service calls and perform necessary software and hardware troubleshooting on all relevant devices.  Ensure hitch-free delivery of IT Support and customer services across the customers.  Supervise and resolve all hardware and software issues and assist to configure all new systems and perform compliance test on all deployment projects.  Carry out preventative maintenance on basic personal computer hardware, peripherals, CMSs and operating systems.  Ensure that all queries on foreign procurement (OEM) receive prompt attention and deliveries executed within SLAs. Client Services Support | TOTAL Exploration and Production Nigeria Ltd. - OFON2 Project PHC, Port Harcourt, Nigeria Feb 2014 – Oct 2015  Accountable for providing apposite support services to IT users while working on the OFON2 project, also providing backup support to the offshore support team.  Coordinating IST requirements for various sites of the OFON2 project while managing various aspects of vision workstation deployment and support.  Supporting and repairing various applications as well as deploying laptops, desktop, printers, scanners and other peripherals.  Providing backend support, coordinating and moving various IST equipment in different locations, resolving various network related issues and handling users complain through remote assistance.  Providing Multifunctional Printer (MFP) support and deployment along with monitoring support magic and resolving calls within SLA. Senior Consultant | Danexcel Services Nigeria Ltd., Port Harcourt, Nigeria Aug. 2013 – Feb. 2014  Conducted audit of various operations of the company business to ensure compliance with relevant industrial standards such as technical, administrative and health and safety. Freelance/Independent IT Support Consultant | EMEX Consult, Herts, UK May 2011 – Jul 2013  Managed various aspects of PC (desktop and laptop) procurement, building, sales and repairs.  Provided support services to clients on procurement of IT equipment and peripherals.  Formulated and implemented corporate IT policies while managing computer support services. IT/Business Consultant | BUSY BEE, Welwyn Garden City, England, UK Nov. 2008 – April 2011  Installed, built, upgraded, repaired, configured, troubleshot, optimised, diagnosed and performed preventative maintenance of basic personal computer hardware and operating systems.  Played an instrumental role in working as an active member of the company’s IT help desk. EARLY CAREER ICT Instructor | Home Tuition Services, Middlessex, London, UK April 2007 – Oct. 2008 IT/Business Support Consultant | G-R Wright Food Processing Co., Enfield, UK Aug. 2006 – Feb. 2007 Principal Consultant | EMEX Systems (Nig) Ltd., Port Harcourt, Nigeria Sep. 2005 – March 2006 State Coordinator (Anambra) | The Presidency, National Youth Peace and Empowerment Project (NAYOPET), Abuja, Nigeria Feb. 2004 – Aug. 2005 Business Support Manager | EMEX Systems (Nig) Ltd., Port Harcourt, Nigeria March 1998 – Feb. 2004 Computing/Business Support Coordinator | Shell Petroleum Development Company of Nigeria Ltd. (SPDC) - Security Department, Port Harcourt, Nigeria May 1992 – Feb. 1998 Analyst Programmer | SPDC - Environmental Services Department, Port Harcourt, Nigeria March 1991 – May 1992 Computer Technical Assistant | SPDC - Drilling Operations Department, Port Harcourt, Nigeria March 1990 – Feb. 1991 Contract Stock Analyst | SPDC - Materials Department, Port Harcourt, Nigeria Oct. 1988 – April 1989 Materials Dispatcher | National Youth Services Corps (NYSC)/SPDC, Materials Department, Port Harcourt, Nigeria July 1987 – Aug. 1988 Savings Accounts/Entries Clerk | Union Bank of Nigeria Plc, Nnewi, Anambra State, Nigeria Nov. 1984 – April 1985 EDUCATIONAL QUALIFICATIONS Master of Business Administration – Marketing | University of Nigeria, Enugu Campus July 2001 – May 2003 HND - Business Administration and Management, (Upper Credit) | IMT Enugu Nov. 1982 – July 1987 Diploma - Practical Bookkeeping and Accounts | British Careers Training College, Jersey, UK Nov. 1981 – Sep. 1982 PROFESSIONAL CREDENTIALS Certification/Membership  Computing Technology Industry Association (CompTIA A+ Ce) - Licence # COMP001020568778  Nigeria Institute of Management (MNIM) Membership #: 56573 Research Works  Influence of Foreign Affiliation on Marketing Decisions in some Nigeria Firms – 2003  Marketing of Hotel Services In Port Harcourt – 2001  Feasibility Report on Small Scale Garri Processing Business – 1988  Job Satisfaction, Motivation and Productivity – 1987. PC (Desktop and Laptop) PERSONAL DETAILS Nationality: Nigerian Marital Status: Married Driver’s License: Nigerian

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