2012 prospects for the economy

ON NOVEMBER 6, 2011 IN BUSI NESS

BY UDEME CLEMENT The Managing Director and Chief Executive Officer of DHL in Nigeria , Mr. Randy Buday, says there is greater prospect for Nigeria s economy in 2012 fiscal year, looking at the commitment of the economic team in designing a framework for industrial growth. The DHL boss stated this while speaking with Sunday Business on the fringe of an exhibition in Lagos , stressing the need for the three tiers of government to work hand-in-hand in moving the economy forward. To him, early release of 2012 annual budget is very important and would boost the rate of growth by removing structural lapses from the economy. For instance, most investors want to see the budget, which is an important economic blueprint showing the financial estimate of government. Also, local entrepreneurs want to see the enactment of the Appropriation Bill to know government expenditures for a whole economic year and how it would affect investments for that period, he said.

DHL Boss, Mr Randy

Speaking on the activities of DHL, he said, DHL has distinguished freight solutions and competitive transit times. So, with extensive potential of supplying equipment and vehicles, DHL Freight offers solutions to its customers in the area of full truck freight, as well. The company has a global network and has grown rapidly to become the leader of international express air freight and logistics industry today. He added, We combine international experience in express air ocean land freight and contract logistics solutions with expertise in domestic markets, DHL operates in over 229 countries with its 285,000 trained personnel. Providing service for 120,000 different locations, DHL delivers 1.5 billion shipments worldwide per year. Having 4.2 million customers all over the world, DHL continues its operations successfully with its 76,000 vehicles and 6,500 facilities. DHL, which has a storage space of over three million m, possesses one of the largest fleet of airplanes in the world with more than 400 planes, and is a 100 percent Deutsche Post World Net organisation. Doing business in Nigeria is really interesting. We have a large market here and we believe there is prospect for Nigeria s economy. We are aware that

government is trying to fix the power sector and once that is done, businesses would spring up at various regions across the country. I am also advising President Goodluck Jonathan and the economic team to diversify the economy to grow the non-oil export sector for more revenue generations for the capital projects.