Issokay

Seekers are more than the opportunities around.

Over the hilly and rocky plains of Iseyin, nestled in the Ara-Oke countryside of Oyo State, is the ancient art and indigenous textile industry of aso-ofi that has been passed down from generation to generation in unbroken rhythm. The unique textile, also known as aso-oke in urban Yoruba parts, to refer to the hinterland source of this cultural industry, had its day in the sun last week, when Oyo State Government collaborated with Iseyin weavers and marketers to celebrate it as the state’s next cultural product for the global market.


Aso-ofi has enjoyed thousands of years of the artistry among its Iseyin weavers and worldwide patronage. But like most African indigenous cultural products, it is facing a threat from outside, particularly the Chinese, who have seen its global market potential and have tapped into it. So that while Iseyin local weavers are still stuck with only the traditional, wooden, painstaking loom method of weaving, the Chinese have applied modern, faster machine methods. If Iseyin weavers do not wisen up fast and move along with modernity, they risk loosing their ancient, inherited business.

Coming on the heels of Adire Heritage Festival held barely two weeks ago in Lagos, it would seem there is more awareness and value-addition to Yoruba cultural textiles than anywhere else in the country. The celebration of two Yoruba indigenous textiles, adire and aso-ofi, should serve as wake-up call on other ethnic groups with unique indigenous textiles to begin the process, of not only celebrating theirs, but also taking them to national and international markets for enhanced patronage.

For instance, the Tiv in Benue State have a’nger (black & white stripes) and Idoma (black & red stripes variant of it), the Efik have onyonyo, while the Anioma in Delta State have akwa-ocha, as indeed other ethnic nationalities have their own indigenous, cultural textile products worth celebrating. But to what extent are owners of these other traditional textiles aware of the immense economic potential inherent in their inheritance if properly packaged, promoted and marketed? This is where the Yoruba have set the pace.

It was apparently what informed the Abiola Ajimobi-led administration of Oyo State, through its Ministry of Information, Culture and Tourism, to collaborate with Iseyin Weavers and Marketers Association to hold a festival that not only yearly celebrates aso-ofi and other cultural products in the state, but also harnesses the business potential inherent in them. Commissioner in charge of the ministry, Mr. Toye Arulogun, was emphatic when he stated that it was time to air these hidden asserts, modernise and give them a global outlook and audience for their economic worth, as alternative sources of wealth-creation.

The occasion of the celebration of Aso-Ofi Festival 2017 saw the foundation of Aso-Ofi International Tourism Market, Iseyin, being laid by the governor, represented by his deputy, Otunba Moses Adeyemo, a gesture that would transform Iseyin and its ancient craft in aso-ofi into a global tourism market. The 500-stall market will boast of a clinic, police and fire stations, and a museum that documents the history of aso-ofi over the years and related businesses. Arulogun believes Iseyin aso-ofi weavers need to move to the next level through modern methods and markets, with government’s help through enlightenment and infrastructure.

The festival opened on Friday, September 15, with weaving competition that showcased the processes that lead to the making of aso-ofi. Indeed, it was a delight watching the men at work. But because it is all manually done, one gets the sense of a cumbersome process that takes days before a piece of aso-ofi is finally made.

One of the supervisors of the competition, Mr. Ganiyu Akeem Adetunji, said he started out fully as a 15-year boy, when he couldn’t secure admission into a higher institution. At 40, he said he has worked the loom for 25 years, as an inheritance from his father, who also inherited the business from his own father. Aso-ofi, he noted, is the symbol of Iseyin, as the town is generally referred to as ‘Home of Aso-Ofi. Adetunji also stated that it takes six to seven steps from gathering cotton wool to spinning to get a piece of aso-ofi out of the loom.

Like an old guard, Adetunji is suspicious of introducing machines in the making of aso-ofi, arguing that the aso-ofi that would come out of machines would not last, as the case with the Chinese products already indicates. He also feared the loss of the cultural element associated with aso-ofi, as an indigenous textile that was yet to be adulterated with machines and all forms of quackery. He has some 20 hands working with him, and feared for the resultant loss of jobs, as machines would render many redundant and unemployed.“Aso-ofi alleviates poverty,” Adetunji concluded grimly.

IT is precisely for aso-ofi’s poverty alleviation potential that the state government decided to step in to take the indigenous textile from its current cottage industry format to a bigger stage, with the second edition of the festival that started last year.

As Aulogun noted, “Culture is dynamic. You cannot enter or play in the global space without modernising the production process. This issue of weaving with hand will still remain. However, the Chinese are already making aso-ofi and they are eating into the market, and you want to stay in this same position? You can’t satisfy the global market with that. What we are saying is that the hand-woven aso-ofi should cost more than the ones made with machine. If I were in the business, I would produce enmasse and also do hand-woven.

“Old habits diehard, but I believe aso-ofi can compete favourably with jeans in the market; even the quality of jeans has reduced in terms of strength. We no longer wear those hardcore jeans again; we now wear softer ones, and it’s trending. If you use aso-ofi as your bed sheet, heat will kill you. We are saying we must introduce aso-ofi along the lines of variation to use it for shoes, for bags, for furniture. Right now, it is not particularly African weather-friendly and if you want to play in the global space, you have that end of the market and you also have this other end of the market. So you must vary it such that you can meet different needs of the market. You can’t stay in one particular position (forever).”

Already, the Bank of Industry and Nigerian Export Promotion Council are in talks with Oyo State Government to give Iseyin aso-ofi weavers financial backing. But with the making and business of aso-ofi still at individual, family levels, the government listened to the weavers’ plea for a structured market as first step to internationalising the cultural product.

As Arulogun noted, “Even for aso-ofi, you have different grades and styles. For most of the women, they will rather use the softer ones for their head-tie because of the heat. So, the point I am making is that people have to adjust; we need to enlighten and educate them. That is our job as the Ministry of Information, Culture and Tourism. That’s the benefit of this festival, to structure the market. Right now, it is unstructured. And what we need to do is to market our culture, show people what we have. There is a strong economic viability and sustainability content that is important.

“Bank of Industry and Nigerian Export Promotion Council came on their own because they have seen the future in this cultural business. That is why government is providing a market for them. Once there is a market here, we can go to some of these companies in Ikorodu and ask them to establish ancillary companies to provide materials for aso-ofi weavers – from the cotton to the thread. We need to show them where the future is. If not, we might just lose this market to the Chinese entirely and all our efforts will be in vain.

“The name is Aso-Ofi International Tourism Market and you will be wondering, because market naturally should be trade, but it is our own idea. After we did the first edition of this aso-ofi festival, we found out that the market was lacking. It was an unstructured market. So, we decided to build a market. And of course, we added tourism dimension by having a museum. When you get into a place like this, you can trace the history – what this oba used to wear, you know – something that is educational and also instructive. We are working on about 500 shops, opened stores, closed shops; we are also providing police and a fire station.”

GOVERNOR of Oyo State, Sen. Abiola Ajimobi, who was represented at the festival by his deputy, Otunba Moses Adeyemo, said his administration wants to “make Oyo State a haven for tourists to appreciate the numerous cultural and tourism entities that abound in the State,” adding, “It is, however, time we communicate the importance of tourism sector. We must mainstream it in the economy of the state. Oyo State is endowed with diverse cultures, which include a wide variety of indigenous festivals such as Sango and Oranyan in Oyo Town, Oke-Badan in Ibadan, Beere in Saki, Olele in Ogbomoso, etc, and beautiful landscapes such as Ado-Awaye Suspended Lake, Oke-Badan Hill in Ibadan, Igbo-Oba Royal Forest in Igboho, Iya Mapo Hill in Igbeti and other numerous species of flora and fauna with their scenic values. However, most of these tourist sites are yet to be fully maximised to generate revenue.

It is, therefore, our duty to plan, package and market them for overall development of the state. The idea behind Aso-Ofi Festival is to celebrate aso-ofi, one of the state’s tourism products, towards propagating this unique, indigenous textile material globally and promote youth empowerment agenda of this administration, as one of the solutions to the present economic challenges facing the country. To this end, youths should be encouraged to learn this trade without waiting for white-collar jobs that are not always there. Farmers should be encouraged to grow the cotton trees, as part of agricultural agenda in the state to boost our indigenous textile industry.

EARLIER at the Aseyin of Iseyin palace, when Adeyemo and other government functionaries paid the royal father Oba (Dr.) Abdul Ganiyu Adekunle Salau Ologunebi, courtesy visit before the festival started proper, the traditional ruler told his audience that without aso-ofi, which he wove as a young man,he would not have been able to pay his way through university to study veterinary medicine. He expressed happiness that governor Ajimobi has seen the future in indigenous cultural industries and the need to tap into them for their economic benefits, saying reliance on a mono product was no longer fashionable.

Oba Ologunebi urged the governor to stand firm and fashion better ways of running the affairs of the state, adding, “There is too much decadence in the system. We thank you for promoting aso-ofi. Whatever I am today is because of aso-ofi. I used to weave in my younger days. We thank God that we have aso-ofi in Iseyin.”

Aseyin urged his Iseyin folks to take aso-ofi seriously and take it to next level beyond a cultural heritage, saying people never know what they have until it is taken away from them.

Arulogun further stressed the importance of modernising aso-ofi business from its current state and urged Iseyin people to see government’s efforts as complementing whatever they were doing and not as a competitor, who has come to take away their business. He said the stalls would be made affordable for them when they are ready.

“The job of government is to provide the enabling environment; government is not going to teach them how to modernise the business. They know more than government. It is a generational trade; they’ve been transferring it from one generation to another. But nobody likes to leave their comfort zones; nobody likes change, but when we build the shed for them they were happy because they used to live under trees and in the open. In this market, we are going to have the weaving sheds. So, it’s for both the weavers and the marketers and that is very important.

“What we are saying now is this: people need serious enlightenment. Sometimes, the word goes round that government wants to take over their business from them. Meanwhile, we are helping them because they need to move to the next level. Most of the ladies now, wear the gele that is bought from China; it’s softer. I’m hot because of the thickness of the aso-ofi I’m wearing now. It’s not like the ones our mothers used to wear. So, you have to be dynamic and we must all embrace that dynamism.”

SOURCE: https://brandspurng.com/with-aso-ofi-festival-oyo-moves-to-harness-indigenous-textile-for-global-market/

Nigerian Breweries Plc has commissioned a newly built block of classrooms, library and toilet facilities at the Special Education Center for Exceptional Children in Uyo, State in honour of Imoh Eno-Essien, the 2016 Maltina Teacher of the Year.

The construction of the facilities in the school where Mr. Essien teaches was part of the prize for emerging as the 2016 Maltina Teacher of the Year. Essien, who beat nine other finalists to the coveted prize last year, also got one million Naira cash prize, an oversea training plus another one million Naira to be paid to him annually for five years.



Pastor Paul Alexander Udofia, Akwa Ibom State Commissioner for Education receiving the keys to a block of classrooms from Kufre Ekanem, Corporate Affairs Adviser, Nigerian Breweries Plc during the commissioning of the block of classrooms at the Special Education Center, Uyo, Akwa Ibom State in honour of Mr. Imoh Essien, the 2016 Maltina Teacher of the Year, on Friday

Managing Director, Nigerian Breweries Plc., Mr. Johan Doyer, who was represented on the occasion by Mr. Kufre Ekanem, the company’s Corporate Affairs Adviser, explained that the idea of the school-based project was to ensure that when a teacher wins, the community where he/she teaches also wins.

Doyer noted that the Maltina Teacher of the Year initiative was hinged on a realization that teachers hardly get the recognition they deserve in spite of the pivotal role they play in determining the quality of our education and the future of our country. “We set out with an aspiration to recognize, celebrate and embolden teachers. So far, the Maltina Teacher of the Year initiative has produced 42 State Champions and two overall winners selected by an independent panel of judges,” he said.



Pastor Paul Alexander Udofia, Akwa Ibom State Commissioner for Education and Kufre Ekanem, Corporate Affairs Adviser, Nigerian Breweries Plc handling over the keys to a block of classrooms to Pastor (Mrs) Deborah Benjamin, Principal, Special Education Center during the commissioning of the block of classrooms at the Special Education Center, Uyo, Akwa Ibom State in honour of Mr. Imoh Essien, the 2016 Maltina Teacher of the Year, on Friday

While thanking the governor of Akwa Ibom state, His Excellency, Deacon Udom Emmanuel for accepting to commission the facility for use by the school, he congratulated Akwa Ibom State on its ongoing 30th Anniversary celebrations. “It is a unique time to have His Excellency commission this project which has further drawn attention to our collective responsibility of nurturing our children with special needs in a conducive learning environment,” he said.


Doyer also expressed gratitude to the Federal Ministry of Education and other stakeholders for the support and partnership with the company since the commencement of the Maltina Teacher of the Year initiative.

The governor of the state, Deacon Udom Emmanuel, who was represented on the occasion by the Honourable Commissioner for Education, Pastor Paul Udofia congratulated the winner, Mr. Imoh Essien for making the state proud andlauded Nigerian Breweries for the worthy initiative aimed at celebrating exceptional teachers in Nigeria.


In her remarks, the principal of the school, Pastor (Mrs) Deborah Benjaminexpressed great appreciation to Nigerian Breweries for what shedescribed as an unparalleled support for the cause of education in the country.“This singular gesture is a significant milestone in the entire reward system adopted by Maltina Teacher of the Year organisers by bringing the school that produced the champion into their scheme of activities,” she said.



Pastor Paul Alexander Udofia, Akwa Ibom State Commissioner for Education and Mr. Kufre Ekanem, Corporate Affairs Adviser, Nigerian Breweries Plc at the unveiling the plaque during the commissioning of a block of classrooms at the Special Education Center, Uyo, Akwa Ibom State in honour of Mr. Imoh Essien, a the 2016 Maltina Teacher of the Year, on Friday

An excited Essien equally praised Nigerian Breweries for the gesture, adding that it takes commitment on the part of the company to appreciate the great sacrifice and contribution of teachers to the development of the nation.He enjoined his fellow teachers all over the country to rededicate themselves to the profession and deepen their passion for their calling.

The Maltina Teacher of the Year is an initiative of the Nigerian Breweries/Felix Ohiwerei Education Trust Fund. The fund was established in 1994 by Nigerian Breweries Plc with a takeoff capital of N100m, to assist the company play a more active role in the development of education in Nigeria.

SOURCE: https://brandspurng.com/nigerian-breweries-commissions-block-of-classrooms-at-uyo-photos/

Honeywell Flour Mills Plc. has released its audited financial results for the full year ended 31st March, 2017.

The Company recorded a remarkable 191 percent increase in gross profit from N4.36 billion to N12.71 billion in the financial year under review. It also grew total revenue from N50.88 billion in 2016 to N53.23 billion in 2017, representing a 5 percent increase year-on-year. The Company achieved a 291 percent increase in profit before taxation, to N5.47 billion in 2017 from a loss position in 2016. Consequently, the Company declared a dividend of 6 Kobo per ordinary share to its shareholders at its just concluded 8th Annual General Meeting, held on Friday, 22nd September 2017.

Speaking during the Annual General Meeting (AGM), Chairman of the Company, Dr Oba Otudeko, said the Company’s current performance indicated a leap from the results of the financial year 2016. Dr Otudeko attributed the improved earnings and profits to the Company’s relentless focus on lower cost sourcing for raw materials and foreign exchange and increased efficiency in manufacturing. “In FY2017, we reaped the benefits of a well-executed input cost management strategy”, he added.

Speaking further, the Chairman said: “Our results show continued growth and a substantial step-up in profitability despite the volatile economic environment. It was achieved largely through improved efficiency. Our manufacturing function drove further efficiencies through continuous improvement projects that enhanced engineering and plant maintenance processes and ensured higher levels of production efficiency.”
Also speaking at the AGM, Managing Director of HFMP, Mr Lanre Jaiyeola, noted that the Company was making significant changes to its business in order to lay a better platform for the years ahead. “In FY2018 and on the heels of an improving economic environment, we expect to record further improvements in performance, reigniting our growth agenda and extracting increased efficiency and cost reduction through a recently launched company-wide transformation and continuous improvement programme.”, Jaiyeola said.

Reacting to the results, a shareholder, Sir Sunny Nwosu, commended the Company’s efforts at ensuring that it remains on the path of growth, urging them to continue to focus on lower cost sourcing for raw materials.

Reacting to the results, a shareholder, Sir Sunny Nwosu, commended the Company’s efforts at ensuring that it remains on the path of growth, urging them to continue to focus on lower cost sourcing for raw materials.

Nwosu charged the board and management to remain steadfast with its aggressive strategies to further grow market share and increase revenue significantly in alignment with its mandate.

Finally, the Chairman assured shareholders of the board and management’s dedication, diligence and commitment to the company’s mission, which is to produce consistently good quality flour and other wheat based products for the complete satisfaction of its highly valued customers and consumers.

SOURCE: https://brandspurng.com/honeywell-flour-mills-posts-n53-27bn-revenue/

Nigeria’s cashew farmers and exporters are benefiting from improved farming practices and packaging, leading to a significant increase in exports of the produce from the country.

The $315million cashew sub-sector is now playing a key role in boosting the country’s diversification strategy, as export figures between April and June 2017 show that the industry led the agricultural export for the period.

The latest foreign trade report, released by the National Bureau of Statistics (NBS) shows that cashew exports increased by 463 percent, from N2.4 billion in first quarter 2017 to N13.5 billion in the second quarter of 2017 on a quarter-on-quarter basis.

The crop, which contributed less than two percent to total agricultural exports in the first quarter, contributed 45.4 percent to the sectoral export in the second quarter and 8.2 percent of total non-oil exports. The value makes the product the seventh largest export product in the second quarter of 2017.

Stakeholders say the export numbers are an indication that the cashew industry has the potential to be a major foreign exchange earner for the country.
“The performance of the country’s cashew production is as a result of the consistent and sustainable work in place to ensure that the country’s cashew gains global recognition and also a confirmation of the huge potential in the subsector,” said Anga Sotonye, publicity secretary, National Cashew Association of Nigeria (NCAN) in a telephone response to BusinessDay questions.

“We have put in place the structure that ensures quality. Farmers are now drying their cashew nuts properly and packaging them well, using jute bags,” Sotonye said.
He further observed that a lot of cashew trees started fruiting this year, which increased the quantity of cashew exports to 175,000 metric tonnes from 160,000 metric tonnes last year.

Besides cocoa, cashew is another major cash crop in Nigeria that has huge export potential, farmers say. It can be eaten and also serves as industrial raw material in firms producing chemicals, paints, varnishes, insecticides and fungicides, electrical conductors, and several types of oil and also for the food and beverage industry.
“For the first time, the price of cashew in Nigeria surpassed that of cocoa. A tonne of cashew sold for N700,000 in April and May, while cocoa was selling for N600,000 then,” Zacheaus Egbewusi, chief executive officer, Agric-Commodity Inspection Limited, told BusinessDay.

“This is the best performance of cashew for exporters since the crop started gaining recognition in the country,” Egbewusi added.
The bulk of Nigeria’s cashew nuts and kernels are exported to Asia, Europe and the United States. The cashew crop can be grown in the entire South-West, South-South and South-East region of NIgeria, with Enugu, Oyo, Anambra, Osun and Kogi, having the largest production areas.

Apart from helping to maintain a healthy heart and bones, cashew also helps in weight loss. The most important product of the cashew tree is the nut, which is used as confectionery, followed by the Cashew Shell Nut Liquid (CNSL), which is of great industrial importance and is obtained from the seed pericarp by steam distillation or extraction with solvents.

“Nigeria has increased its cashew production to 175,000 metric tons (mt) from 160,000 mt,” said Tola Faseru, president of NCAN, during the association’s annual general meeting held in Abeokuta recently.

“Nigerian cashew quality now ranks high in the world, as the produce is subjected to proper drying and packaging and packing into jute bags before export,” Faseru said.

Still, the country is not yet maximising the earnings it can make from cashew exports, as it mainly exports unprocessed nuts.

A tonne of unprocessed cashew nuts currently sells for $1,800 in the international market, while a tonne of processed cashew sells for $12,000. This implies that the country could be losing about $1.8billion annually on the exportation of raw cashew nuts, based on the current quantity exported.

“For every amount earned in export of raw cashew in 2017, Nigeria would have made five times the value of what was made, if they were processed,” said Emmanuel Ijewere, vice president, Nigeria Agribusiness Group (NABG).

SOURCE: https://brandspurng.com/cashew-nut-exports-increased-significantly-by-463-to-37m-in-q217/

Gøod stuff.

This should be encouraged across all related boards.

FTC.

**Minions Laff** Buhahahahahaha Ramsbottomm.

Now lets see what Google owned HTC got to offer.

Telcom Satelite Tv, TSTv, is gearing up to take on DSTV and StarTimes in the Nigerian payTV market.


TSTv is owned by ABS and Telcom Satellites TV. The company’s signals will be distributed on the ABS 3A Africa beam, located at 3 degrees west.

Its approach is to simultaneously Provide data and video services, TSTv is looking at using the pay-as-you-go but a prepaid model. This model is the opposite in the case of DSTV, the country’s major payTV company with over 4 million subscribers.

A media analyst who spoke to PageOne.ng on the implications to the market said TSTv’s pay-As-You-Consume model, is an approach that many Nigerians will find appealing given the special circumstances of lack of steady power and lifestyle of many working class people.

However, the provision of data services alongside video pits the company against traditional ISP and mobile carriers who now depend on data for the bulk of their revenue growth. An analyst in the IT sector said the company will do itself a lot of good it quickly positions itself for the ‘Internet-for-home’ side of the market as this will carve a niche for its services. However, the strong position of mobile Internet usage, many young people might not find the data proposition appealing.

TSTv is also planning to use the entry-level pricing approach that will see customers paying a little below the market price. Using the data plus video model, subscribers cannot decide what bandwidth of data they prefer which will determine how much they pay.

The product is bundled to give every subscriber about 20 gigabytes monthly for a subscription of NGN3,000. Moreover, it is not clear if TSTv will unbundle its services where subscribers can choose whether to go with data or video only.

As per content, the company might go head to head with DSTV in sports and news contents. Bein Sports, a sports network has the rights for the English Premier League and Champions League in certain markets. DSTV has exclusive rights to EPL matches for Nigeria, this might make it difficult for TSTv to show key matches in the league. (PageOne.ng cannot confirm if the DSTV’s contract is no longer exclusive).

The importance of having the EPL and Champions League is critical for the Nigerian payTV companies as research has shown that male head of households is the decision maker in the choice of channels and subscription payment. DSTV took the esclusive rights to the EPL and Champions League after HiTV, a local payTV company went under in 2011 due to debt burdens and board tussle. Analysts in the business said DSTV’s position and surviaval as the number one is hinged on holding tight to these TV rights.

Other challenges ahead of TSTv might be more technical than financial. Data services are not that reliable in spite of the technical inflation in prices. The appeal of data and video might see a surge in adoption leading to a busy network.

Analysts fear that TSTv might need to raise its prices to adjust to realities of surging costs of service delivery. DSTV might also step up its game by simply reducing the number of bouquette to give low-end subscribers more treason to stick to its services.



In recent times, new players such as Kwese TV has also emerged. TSTv might also be welcoming Aevolve TV as well. In the end, analysts agree that subscribers might be the winning side in the game.

SOURCE: https://brandspurng.com/tstv-to-debut-pay-as-you-go-tv-plus-data-services-on-october-1st-in-nigeria/

We need others to join too.
The rate at which Fake news are made and spread is alarming and derailing.

This is great.

A new study has said Lagos, Nigeria is one of the most stressful cities in the world.


500 locations were taken into cognizance in the study conducted by UK-based drycleaning and laundry service Zipjet.

Lagos was ranked third in a research that revealed the world’s most and least stressful cities of 2017.

Baghdad was ranked the most stressful city overall, followed by Kabul in the second place.

Cairo and Dakar were two other African cities on the most stressful cities list, while there was no African representation on the least stressful cities list.

In assigning the ranking, some of the factors considered were traffic levels, infrastructure, pollution levels, finance, citizens’ wellbeing, public transport, percentage of green spaces, financial status of citizens including debt levels, physical and mental health, and the hours of sunlight the city gets per year.

Four of the top ten most stress-free cities are in Germany; Stuttgart is in top place, Hanover in third place, Munich is fifth and Hamburg is the joint ninth most stress-free city alongside Graz, Austria.

See the full list below.

The world’s least stressful cities
1. Stuttgart, Germany
2. Luxembourg City, Luxembourg
3. Hanover, Germany
4. Bern, Switzerland
5. Munich, Germany
6. Bordeaux, France
7. Edinburgh, UK
8. Sydney, Australia
9. (tie) Graz, Austria and Hamburg, Germany

The world’s most stressful cities
1. Baghdad, Iraq
2. Kabul, Afghanistan
3. Lagos, Nigeria
4. Dakar, Senegal
5. Cairo, Egypt
6. Tehran, Iran
7. Dhaka, Bangladesh
8. Karachi, Pakistan
9. New Delhi, India
10. Manila, Philippines

SOURCE: https://brandspurng.com/lagos-is-third-most-stressful-city-in-the-world/

Opportunities are many and varied, from infrastructure and agriculture to catering for the growing middle class. KPMG Head of Insurance for East Africa James Norman has described Africa’s hugely unexploited insurance market as a sleeping giant.


According to him, there is a real buzz about the sector because of its plentiful or enormous opportunities.

“There’s a real buzz about the sector because opportunities are immense,” he says. “There’s a young population, a growing middle class most with smartphones and an increasingly large diaspora coming back”.



KPMG Head of Insurance for East Africa James Norman (Business Insider Sub Saharan Africa)

Speaking to Business Insider Sub Saharan Africa, he expressed that the African continent has a young generation of savvy consumers with disposable incomes and large infrastructure projects being built.

“The insurance market is closely linked to economic growth. When incomes rise you have more insurable assets.

Norman also described the sub-Saharan African insurance market as a “diverse picture”.

“Additionally,there is also a huge amount of innovation happening around the continent: InsureTechs and FinTechs are on the rise”.

He however urged insurance companies to be innovative in carving packages that are better suited for the African market instead of a replication of products and services from the advanced countries.

Insurance gap

Norman believes there is definitely insurance gap in Africa since the continent can only boast of social insurance, informal insurance which even falls short of the trust of consumers.

“There is a general conception that says insurance companies fail when it comes to paying claims”.

The KPMG Head of Insurance for East Africa also called for collaboration between banks and insurance companies in the country.

According to him, the convergence of the two financial institutions will help the industry succeed and also make it easier to sign up people for insurance policies.

Although insurance regulations in Africa are really catching up with world’s best practices, stakeholders must be committed to increasing the awareness on insurance, he added,

Technology in insurance

James mentioned the need to incorporate technology into running the insurance industry in Africa.

He explains that, technology is a game changer for the insurance industry, therefore insurance companies must leverage on available technology to have a good run.

South Africa accounts for almost 80 percent of all premiums in sub-Saharan Africa and the country has an insurance penetration rate.

The total value of insurance premiums as a proportion of GDP of about 13 percent, well above the developed world average.

Of the rest, Kenya is among the most advanced, with a penetration rate of 3 percent.

Nigeria, in comparison, is about 0.3 percent, even though it is Africa’s largest economy.

SOURCE: https://brandspurng.com/africas-insurance-market-is-a-sleeping-giant-kpmg/

THE Federal Government, on Tuesday, signed a Memorandum of Understanding (MoU) with Tiger foods limited, as well as Lensof Konsult and Lashone links limited on commercialization of indigenous food products.


This development, according to the Federal Government, would enhance the national Gross Domestic Product (GDP) and close technological gaps in the industries.

Minister of Science and Technology, Dr Ogbonnaya Onu, who signed on behalf of the government in his office in Abuja, assured the agencies of the ministry’s support to sustain the economy on a path of growth.

He said President Muhammadu Buhari led administration was committed to strengthen the economy through the promotion of innovative technologies that would reduce importation with a view to enhancing local content and strengthen self-sufficiency.

In her remarks, Director-General of FIIRO, Gloria Elemo said that the institute was poised on its vision to ensure effective commercialization of indigenous research and development, in order to bail out the country its hardship and economy recession.

According to her, “in the process of commercialization of indigenous technologies, jobs will be created, wealth will be generated, foreign exchange will be conserved, national GDP will be enhanced through the productive sector of the economy”.

She stated that the institute took advantage of the increasing need for convenience food products to upgrade its Research and Development (R&) and packaged them in forms ready for immediate commercialization.

SOURCE: https://brandspurng.com/fg-signs-mou-with-agencies-to-commercialize-indigenous-food-products/

As Nigerians continue to groan under excessive bank charges deducted from their accounts, Zenith, UBA, Access banks and six others made N59.596 billion from these charges, including electronic banking fees, National Daily has gathered.


From the banks half year results for 2017, United Bank for Africa, Stanbic IBTC, Access Bank, Guaranty Trust Bank, Zenith Bank, FBN Holdings, Diamond and Fidelity Banks had jointly made N34.849 billion through electronic banking charges, although it was less than N76.155 billion which they made through the same channel in the first half of 2016.

With the exception of Zenith Bank which recorded a rise in income from electronic banking fees, the other banks had significant declines in the income from electronic channels. There was also a decline in what the banks made through account maintenance charges.

In the first half of the year, eight banks made N24.747 billion, a reduction in the charges compared to N28.368 billion that was made in the first six months of 2016. Of the banks, Zenith Bank stood out in what it made from account maintenance charges while UBA, despite the substantial decline in electronic banking fees income still recorded the highest figure.

UBA which recorded the highest income from electronic transactions saw a 45.9 per cent decline from N18.085 which it made in the comparable period of 2016 to N9.781 billion. GTB which saw a 61.4 per cent decline from N17.263 billion it made in 2016, followed UBA with an income flow of N6.668 billion from electronic banking charges.

FBN Holdings also saw a decline from N10.59 billion which it made in 2016 from electronic banking charges recording an income flow of N6.53 billion, while Zenith Bank recorded a 168 per cent in income flow from electronic transactions in the first six months of the year making N5.386 billion as against N2.008 which it made in the comparable period of 2016.

Zenith Bank also made N8.32 billion from account maintenance charges in the first half of the year compared to N8.92 billion which it made in the H1 period of 2016. GTB increased it income flow from account maintenance charges from N3.89 billion to N4.87 billion.

The Central Bank of Nigeria (CBN), earlier in the year had reviewed the Guide to Bank charges cutting down what customers pay for electronic bank transactions although it retained the account maintenance fee which banks started charging after the phasing out of commission on turnover in 2016.

The apex bank in the revised guideline cut the charges on internet banking transactions to N50 from N100 and Real Time Gross Settlement (RTGS) to N500 from N700. It however increased charges on card maintenance fees from N100 annually to N600 annually.

SOURCE: https://brandspurng.com/nine-banks-make-n59-6bn-from-maintenance-charges-in-6-months/

Mr Nigeria though

you would be like why is he here? instead of NASS.

Life expectancy in Nigeria has increased to 63 years for men and 66 years for women according to a recent study by researchers at the Institute for Health Metrics and Evaluation (IHME) at the University of Washington.

Despite this increase, the study claims that lives lost to communicable diseases like malaria and HIV are still high.

“Life expectancy in Nigeria is growing, but people in many other sub-Saharan African countries are living longer, healthier lives. Communicable diseases like malaria, diarrhea, lower respiratory diseases, and HIV are still taking the lives of far too many Nigerians,” said Jacob Olusanya, director, Center for Healthy Start Initiative.

“Infants and children are at particular risk from these diseases, and neonatal ailments like sepsis and encephalopathy kill thousands of infants. We have much more work to do.”

The 2017 edition of the annual global burden of diseases study (GBD), which is composed of five peer-reviewed papers, was published The Lancet, a medical journal.

The study’s main findings for Nigeria include:

A Nigerian man born in 2016 can expect to live 63.7 years, an increase in life expectancy of 7 years over the past decade. A woman has a life expectancy of 66.4 years, up 8.1 years from 2006.
A Nigerian male born in 2016 will live approximately 55.5 years in good health; a female only 57.2 years. Nigeria has a higher life expectancy than South Africa, Niger, or Cameroon, but it lags behind Kenya, Rwanda, and Ethiopia.
The top five causes of premature death in Nigeria are malaria, diarrheal diseases, HIV, neonatal encephalopathy, and lower respiratory infection. The ailments that cause illness can be very different. Iron-deficiency anemia, back pain, and migraines are the top causes of years that people live with disability in Nigeria.

“For every 1,000 live births, 46.6 Nigerian children under the age of 5 die. That far exceeds the global figure of 38.4, and the regional average of countries in western sub-Saharan Africa, which is 40.7.”

In 2016, for the first time in modern history, fewer than five million children under age five died in one year, as compared to 1990 when 11 million died.

Researchers attribute this global health landmark to improvements in increased educational levels of mothers, rising per capita incomes, declining levels of fertility, increased vaccination programs, mass distribution of insecticide-treated bed nets, improved water, and sanitation.

“Death is a powerful motivator, both for individuals and for countries, to address diseases that have been killing us at high rates,” said Christopher Murray, director of the Institute for Health Metrics and Evaluation (IHME).

“But, we’re been much less motivated to address issues leading to illnesses. A ‘triad of troubles’ – obesity, conflict, and mental illness, including substance use disorders – poses a stubborn and persistent barrier to active and vigorous lifestyles.”

Despite progress on reducing deaths, this “triad of troubles” – obesity, conflict, and mental illness, including substance use disorders – is preventing further progress.

The GBD is the largest and most comprehensive epidemiological effort to quantify health loss across places and over time. It draws on the work of over 2,500 collaborators from more than 130 countries and territories.

SOURCE: https://brandspurng.com/life-expectancy-in-nigeria-now-63-up-from-56/

With Nigeria’s giant strides in cement manufacturing, it is believed that the commodity won’t be costly. But it has remained out of reach for many because of its soaring price.

What the Nigerian cement industry has witnessed a monumental turnaround is not an exaggeration. It is presently valued at over $2 billion, a testimony to the country’s position as a leading manufacturer of the product. This has been accentuated by the activities in Africa the country’s leading cement manufacturer, Dangote Cement Plc. Dangote Cement, across its plants scattered on the continent, accounts for 46 million metric tonnes of the product across its African operations, to place it as the leader on the continent. Locally, of the 33 MMT required, it accounts for 29. 25 MMT.

A breakdown of its operation shows that the Ibese plant produces 12 MMT/A, while its Obajana plant in Kogi State, which is the largest in Africa, produces 13.25MMT/A of capacity across four lines. Its plant in Gboko Benue state has four MMT/A, while there are moves to build new factories in Ogun State with a capacity of six million metric tonnes, and another one in Edo State with capacity of six million metric tonnes.

Closely followed is LafargeAfrica Plc, manufacturers of Elephant Cement. Lafarge’s combined production from its three plants in Ogun State, one in Gombe, Cross Rivers and Rivers states equals 12million metric tonnes per annum. While its three plants in Ogun produces 4.5million metric tonnes per annum, one million metric tonnes and 2.5MMT are produced in Gombe, Cross River and Rivers State.

BUA cement also adds to the production capacity in the country, producing eight million metric tonnes, a feat attained with its recent opening of the plant in Edo State.

The combined efforts of the three producers has since led to the 33million metric tonnes capacity in the country, surpassing the local requirement by an excess of almost four MMT/A.

Given the above, and going by simple economic theory, it presupposes that cement should be a readily affordable commodity by all locally. But such assumptions have been dashed as the price of cement, rather than coming down, has continued to rise steadily, hitting an all time high of N2, 700 per 50kg bag.

Even more appalling is that during rainy season, cement prices, which traditionally crashes, has remained high this year. Consequently, as a result, prices of other building materials such as concrete blocks, plumbing materials and others have increased drastically. The high cost has made it impossible for many Nigerians who had hoped to become house owners.

A concrete block maker, Mr. Michael Oladeji, said it is more difficult for Nigerians to now build their own houses due to high cost of cement. “I have been in the business of block making since 1981 up till now. I witnessed gradual increase of cement. At a time, we were buying it N25 per bag and blocks were sold between N26 and N32 for six and nine inches respectively. The situation was better then but now cement is sold between N2, 300 and N2, 700. Blocks are now sold for N180 to N200. How do you expect people to build house? He asked rhetorically.

Another operator of a block making industry, Mr Quadri Lawal, explained that the fluctuating price of cement is taking a toll on sales. This, he further explained, is why the price of blocks keeps fluctuating. “We had expected that now that we have many companies producing cement and in large quantity, there would be competition which would force down the price. The opposite is the case. I do not understand why cement cannot be sold for N800 per bag. Dangote is producing in large quantity, likewise Lafarge, so why can’t they bring down the price?” he queried, adding that whenever cement price increases, it affects the price of other building materials which now makes it difficult for average Nigerians to have a roof on their heads.

Various reasons have been adduced for the high cost of cement, with cement manufactures arguing that the harsh operating environment such as lack of constant electricity, high cost of fuel, bad road network, amongst others, are hindrances to their operation.

With the price of fuel and diesel now sold for N145 and N200 as against when it was N11 and N30 per litre, transporting cement from the factory to the city and distributing to wholesalers have become a herculean task. Also, the devaluation of the naira, scarcity of foreign exchange, multiple tax, and inconsistent government policies are additional reasons which are affecting the cost of cement.

Dangote cement, reacting to the increase in cement price, had said in a statement that “we have previously indicated that we would increase the price of cement to offset increase in costs caused by devaluation and other cost factors. The present situation has regrettably forced us to increase the price of cement by N600, bringing the price back to levels only marginally above what they were before we announced a price decrease in September last year.”

Some stakeholders are of the opinion that local manufacturers are taking advantage of the ban on importation of the commodity, and making a kill in the process. The Vice-Chairman, Cement Sellers Association (CSA), Mrs. Falo’omo Arike, said though government’s decision to ban importation of cement was done in good faith, especially to grow the local cement industry, it has been exploited by local manufacturers, to willfully increase price at the slightest market adjustment to their production. Falo’omo, in buttressing her position on this, had explained that within the first quarter of the year, prices were increased about five times.

“A bag now is N2, 600; in some other areas they sell for N2, 700, as wholesale price. I wonder how much they expect us to sell per bag. The people working on sites have stopped working since the increase in price. Our sales have dropped because all our customers, mostly property developers, are running away from price variations and incessant increment,” she lamented.

Similarly, a cement dealer in the Olodi Apapa area of Lagos State, Mr Idris Saliu, accused local manufacturers of adding more pains to the ones Nigerians are currently going through. He said in spite of the challenges facing businesses in the country, the price of cement should not have been as high as it is.

For him, since the product is produced locally, money saved from payment on duty and other importation expenses would have helped to reduce the cost of the product. He wondered why goods produced locally and in large quantity is now costlier than when such goods were being imported.

“We had thought that now that we have more cement factories, the price would have come down but reverse is the case. What we were made to believe is that when a product is produced locally, it is cheaper than when such product is imported. So, how come cement’s price is on the high side? Now, it’s difficult for people to build house, which is affecting our sales too. I believe the manufacturers are only interested in making money rather than the interest of the people and that of the economy,” he said.

Manufacturers of the product, however, said they are making efforts to bring down the price. For instance, during a visit to the Vice President, Prof. Yemi Osinbajo, the Chairman of BUA cement, Alhaji Rabiu Abdulsamad, gave assurance that the price of cement will soon come down.

He nonetheless explained that cement production requires quite a lot of energy, which takes quite a significant part of the cost of cement production. This, he said, may have been attached to the price of diesel, but price of low pour fuel oil (LPFO), also needs to be factored in.

Abdulsamad explained that the other cement plants scattered all over the country like may be the southern part of the country are using gas which is actually cheaper than diesel. He, however, said in a place like Sokoto, for example, LPFO, which is more expensive than gas, is what is used in powering their plant as the product has to be transported either from Lagos or from Kaduna refinery, subject to its availability.

“But I can assure you that the three major companies producing cement in Nigeria are working very hard to see that the price of cement comes down in the very near future. Of course, the foreign exchange aspect also affected costs of production dramatically. That, as we all know, was a big issue. Now, that has improved considerably. So, I think we will see quite a reduction in the very near future,” Abdulsamad had assured.

How this will be achieved is yet to be seen, given that more than two months after this assurance, the price of cement has still remained high.


SOURCE: https://brandspurng.com/cement-everywhere-but-scary-prices/

As most entrepreneurs are aware, the effort required to turn an idea, product or service into a groundbreaking and lasting success is nothing short of herculean.

The steps involved are, of course, numerous and complex: refining the concept, defining the market, creating the business plan, conducting the market research, selling the plan to investors, lining up vendors, partners, and suppliers – and that is all before you have determined what kind of staffing needs you may have down the road, or how you will handle the logistics of delivering your product or service to directly to your audience.

It is no surprise, then, that a typical workweek for an entrepreneur exceeds 52 hours, according to a UK survey, and is likely much longer, if you believe what some entrepreneurs have to say. The fact is, however, launching a business is about more than just the time you are willing to give.

What makes a successful entrepreneur and a winning business concept? It may come down to some principles that many entrepreneurs say are central to every start-up effort: passion for the idea, an ability to communicate well, an obsession with research and the customer experience, and a willingness to think big. Here are some key ideas for today’s entrepreneur.

Be on a mission, and believe in it

The best new companies are born from a belief or concept that is held passionately by the entrepreneur in charge. If you want to drive your business forward, you need to have the right motivation, and the right sense of purpose in what you are doing.

Many top entrepreneurs have noted that they are not spurred solely by the idea of success for its own sake, but instead by the vision of bringing their ideas to life.

Explain yourself well

To launch and sustain your mission, you need a succinct and powerful mission statement. While it is an essential foundation for your marketing efforts, the mission statement is also a launchpad for communicating with investors and partners. If you can’t succinctly explain what your business does, you’ll have trouble getting anyone to listen.

Ultimately, it is important to think of the mission statement not as a formulaic requirement, but as an inspired representation of what your company can achieve.

Do the research

Understanding the market for your product or service is essential for planning and building your business. That may sound obvious, but far too many small businesses neglect to conduct formal market research; far too many do not have a grasp on the real numbers behind their ideas; and far too many lack an accurate understanding of the costs involved in the operational side of the business.

To gain deep insight into the potential demand for your product or services and the attendant pricing, logistics costs and other operational costs, it is wise to pursue both primary and secondary market research. That means both direct surveys of potential customers as well as research gathered from private and governmental sources, including industry associations.

Be customer-focused from day one

Your research should tell you what your customers really want – but you need to make sure your marketing, delivery strategy and customer care are focused on making the right impression and engaging them in your brand.

Before you even reach your first customers (or for those existing small businesses, your next customers), you should have a plan in place to keep them coming back.

Think big

For small businesses and start-ups today, the potential field of customers is not local – it’s global.

Advances in logistics and technology (think e-commerce) have shifted the paradigm, and successful entrepreneurs understand that their possible marketplace is the world.



SOURCE: https://brandspurng.com/95-of-small-businesses-fail-in-the-first-five-years-dont-let-yours-be-one/

o yeah?

owkay.

Good.

FTC

Ok.

That's True

Ok o.

A phone with LTE - 4G capacity and 1gig RAM does not add up.

but i mean, it shld get the job done.

Japanese and Google.

The price is fair enough.

A phone with LTE - 4G capacity and 1gig RAM does not add up.
bit i mean, it shld get the job done.

Centre of Excellence,
Ayam not surprised.