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NGCC NEWS

ISSUE #04 June 7th , 2022

Contents

1. You are invited to NGCC Business Success Series.

2. NGCC moves to Victoria Island Lagos.

3. A memorable trip to Lagos Free Trade Zone.

4. Business Partner Search.

5. Member’s Spotlight.

Free Webinar: Register Now!

The Nigerian German Chamber of Commerce in Lagos in collaboration with KPMG Nigeria and EY Nigeria, is hosting a Business Success Series Talk on Tax Planning for Investors and Businesses on June 17th 2022 at 11am.

Wole Obayomi- Partner and Head of Tax, Regulatory & People Service, KPMG Nigeria, will be speaking on Managing Tax Risks in a fast-changing Fiscal environment.

James Adeagbo Partner -Tax Services EY Nigeria, will be speaking on Tax for Investors.

The Webinar is the latest in the NGCC Business Success series and is expected to last for an hour and fifteen minutes including questions and answers.

DG of the chamber Marilyn Rapu said "Business owners will find these business success series timely and useful as they engage online with our experts’ wide and in-depth knowledge.”

You can register here for the webinar: https://bit.ly/3NHeUrd

or simply send an email to info@ngcc-ng.com confirming your attendance.

NGCC moves to Victoria Island.

NGCC and DGIC staff at the new office.

The NGCC is delighted to announce that it has moved its office to 6 Ojora close Victoria Island Lagos. This brings us closer to the Delegation of German Industry and Trade (DGIC) Office, who are in the same building. We are happy to be back with family!

"We are trying to implement a lot of things to make it a better experience for our members and business community.

The current space is bigger than our former location, it is newer and a lot brighter, the whole visual concept will be a lot better. It’ll be good for the staff as well, and being close to the DGIC will benefit our collaboration.

As we know communication is the cornerstone of collaboration. When teams talk to each other they can empathise with each other’s problems and understand what everyone needs to do the best job!

A memorable trip to the Lagos Free Trade Zone.

The Nigerian-German Chamber of Commerce organised a visit for its members to the Lagos free trade zone on the 26th of May 2022. The Lagos free zone was established in 2012 by a Singaporean conglomerate Tolaram it is the first private free trade zone in Nigeria located in Lagos state.

Why did we plan a visit to the Lagos Free Trade Zone? Here are the main reasons we decided to take our members to the LFZ

• No federal, state & local government taxes, levies & rates

• No import dues applicable on goods imported from outside the company.

• Up to 100% finished goods may be exported into Nigeria customs territory on the payment of appropriate duties along with a valid license.

• Remittance of profits & dividends earned by the investors in the zone without payment of withholding tax.

• No import or export license required.

• 100% ownership of business allowed in the zone.

• 100% Repatriation of capital investment in the zone at any time with the capital appreciation of the investment.

From L to R: Ms. Chinju Udora, Ms. Marilyn Rapu (DG, NGCC), Mr. Dinesh Rathi (MD, Lagos Free Trade Zone)

LFZ offers businesses the opportunity to work with incentives that have been specifically developed to help companies initiate and improve their international trade efforts. By working with the Lagos FreeTrade Zone, companies and suppliers that are involved in the production of products for final export to other countries can find and apply for tax, duty and tariff exemptions that can significantly improve their bottom line.

The visit included a corporate presentation by LFZ, a question and answer session, and a well-detailed tour of the free zone. The highlight of the tour was the visit to Lekki deep-sea port, Upon completion, Lekki Port will have a total of 3 container berths, 1 dry bulk berth and 3 liquid berths. The container terminal will have a 1,200m long quay, 3 container berths, and a storage yard with over 15,000 ground slots. Overall the port is 89% completed.

NGCC members that participated were:

Mr. Chris Okeke from Auto Alternative, Mrs. Omolola Are (DHL), Mrs. Janet Oyeyemi (Tifa Travels & Tours), Mr. Blessed Ehizonomen (Fagbadex Global), Mr. Princewill Ikechi (Golden Gate Logistics), Mr. T.C Orajiaku & Mr. Tony Ofili (Vitachem Nigeria Limited), Mr. Dilip Sawlani (Merry Aviation & Communications Industry), Mr. Akinboro Temitayo (Goldengate Cargo Ltd), Mr. Orolu Oladayo (Siemens Energy Limited), Ayodeji Oladayo ( PERI Framework & Scaffolding) and Mr. Francis Odukoya (Professional shipping Ltd.).

According to Chris Okeke of Auto Alternative- “it was an absolutely awesome experience at LFZ”

A DATE NOT TO MISS : GTR WEST AFRICA 2022

GTR West Africa holds in Lagos, Nigeria on the 9th-10th of June 2022, this event focuses on discussions, that will explore innovative solutions & promote development throughout the trade value chain in areas such as infrastructure development, investment opportunities, commodity trade finance, manufacturing, agribusiness & trade digitization for corporates/trade financiers looking to make their next move.

We still have 10 complimentary passes available for members only. Please email info@ngcc-ng.com to register your interest.

NGCC in partnership with GTR West Africa also invites its members to display brochures or literature about their organisations at the NGCC stand, this is a great opportunity for corporates and trade financiers looking to gain the latest insights on opportunities emerging across this exciting region.

GTR West Africa provides the ideal platform to debate and network with a wide range of trade and export finance experts while offering the opportunity to network with the industry’s top players.

Interested? Email: m.rapu@ngcc-ng.com

Business Partner Search

Planet Group International Ltd. is looking for business partners to distribute its Brita water filtration system in Nigeria, to help improve the quality of drinking water for healthier life, help reduce the use of disposable plastics and improve the environment.

The sustainable drinking water filters for at home and on the go include:

• Table water filters

• drinking bottles with filters

• water carafes with filters

The ideal business partner should be health-related companies (like pharmacies, drug-stores), e-commerce, retailers, departmental stores, chains, etc. Any other company that is looking to expand its portfolio in this direction can also express interest. More products can be viewed on the company’s website: www.brita.de. As the information on the website is only in German, it is suggested to open the link using Chrome which automatically translates all information to English.

Interested? Email: m.rapu@ngcc-ng.com

Member’s Spotlight - Vitachem Nigeria Ltd

From L to R Mr. Anthony Ofili, Ms. Gloria Frederick, Mr. T.C. Orajiaku (MD, VNL), Mr. Dennis Inyang & Mr. Chuks Enuenwemba.

In this issue we are show casing another active NGCC member –VITACHEM

Vitachem has been able to set itself apart as real industry leader in the Food Additives, Chemicals, and also in Industrial Raw materials business.

Vitachem Nigeria limited was established over 25 years ago as a pharmaceutical company but now produces industrial raw materials in three areas: Food Division, which is majorly into flour mill production and addictive’s, Agro-Allied Division, which supplies feed enzymes and animal protein to feed millers farms and Specialty Division which supplies ingredients for food flavours and the supply of raw materials for personal care fragrances. Vitachem has developed good and sustainable business relationships with highly reputable German manufacturers and is in partnership with various global companies such as Bells, Sternwywoil, Munlenchemie, Alivira, and Gapuma.

Speaking on the challenges faced in doing business the MD Mr. T.C Orajiaku said one main challenge is the issue of insecurity, which often limits staff movement outside Lagos where customers farms are located.

Also discussed, during the NGCC visit to VITACHEM was Customs department’s rigid clearing processes, NAFDAC charges, and the ability to adapt to customers needs in these uncertain times.

With the Factory Manager at Vitachem flour mixing factory.