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 Agriculture / Kwara Now One Of The Top Rice-producing States In Nigeria by postbox: 1:57pm On Jan 31, 2022 |
With over 102,000 metric tons produced during the wet and dry seasons of this year, Kwara state has joined the top states in rice production in Nigeria. This was stated in an official document issued by the Central Bank of Nigeria to commemorate the return of the rice pyramid in Nigeria. The North Central state, which contributed over 40,000 metric tons of rice paddy to the recently unveiled rice pyramid in Abuja, was not considered a rice producing state prior to the administration of President Muhammadu Buhari and Governor Abdulrahman Abdulrazaq, but today, the state has emerged as one of the top producers in the country, thanks to the efforts of the state’s Rice Farmers Association of Nigeria (RIFAN). Dr. Ahmed Saba, the chairman of the RIFAN in Kwara state, commented on the development, saying, “we thought we didn’t do enough in our production, until we got to Abuja, where the Central Bank of Nigeria, who is in charge of the anchor borrowers programme, unveiled the data, showing that Kwara state actually did better than we thought, by being among the top rice producing states in the country.” Kwara state produced 62,332 metric tons of rice paddy during the dry season and 40,000 metric tons during the wet season, for a total of 102,332 metric tons, according to Dr. Saba. Dr. Saba thanked the president of RIFAN, Alhaji Aminu Goronyo, the Central Bank of Nigeria, and the Kwara state government for creating an enabling environment and providing support for the program. “We must commend the federal government of Nigeria, particularly the Central Bank of Nigeria (CBN), for instituting a policy that has enabled farmers to access resources like never before, across the entire value chain, from cultivation to harvest and sale, and especially the Ilorin team, which has provided invaluable assistance to RIFAN during some emergency moments.” Dr. Ahmed Saba also praised the Kwara state government for its openness and tolerance of ideas, stating that nothing tangible could have been accomplished without the enabling environment provided by the state government. Since the emergence of Governor Abdulrahman Abdulrazaq in Kwara State, the state has aggressively embraced the President’s rice revolution, resulting in significant increases in rice production during the dry and wet seasons, surpassing many states across the federation. SOURCE:https://brandspurng.com/2022/01/30/kwara-now-one-of-the-top-rice-producing-states-in-nigeria/
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| Business / CBN Commences Removal Of ATM Maintenance Fees And Reducing Bank Charges by postbox: 1:28pm On Jan 31, 2022 |
The Central Bank of Nigeria (CBN) has announced a reduction in fees for electronic banking operations in its published guidelines to banks and other financial institutions. https://brandspurng.com/2022/01/31/cbn-commences-removal-of-atm-maintenance-fees-and-reducing-bank-charges/ 22 Likes 3 Shares
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| Agriculture / Olam Secures US$4.0 Billion Of Financing Facilities On Re-organisation by postbox: 11:22am On Jan 28, 2022 |
Leading global food and agri-business, Olam International Limited has announced today that it has secured multiple bank facilities aggregating US$4.0 billion, as it continues to progress on its Re-organisation Plan. The facilities comprise a US$1.5 billion committed facility with a flexible tenor of up to 3 years (“Facility A”), a US$1.0 billion working capital facility (“Facility B”), and a US$1.5 billion total increase across the 2 bridge loan facilities announced in August 2021 (“Facility C”) and will be used to facilitate the allocation of existing debt to the new operating groups1. Olam’s Group CFO and CEO (Operations), N Muthukumar said: “The signing of these facilities is yet another milestone in our Re-organisation plan to unlock value for our stakeholders. These facilities offer us additional flexibility to allocate financing in-line with the capital structure for our three operating groups.” The Facility A and Facility C agreements include provisions that allow Olam to allocate the facilities to Olam Food Ingredients (“OFI”), Olam Global Agri (“OGA”) and Olam International (“OIL”) operating groups post the carve-out, separation, demerger and IPO of OFI as per the Re-organisation Plan. The Facility B agreement has OGA and its treasury entity as co-borrowers. Australia & New Zealand Banking Group, Standard Chartered Bank (“SCB”) and The Hongkong and Shanghai Banking Corporation Limited (“HSBC”) were the Senior Mandated Lead Arrangers for Facility A. HSBC and SCB were also the arrangers for Facility B, while BNP Paribas, Credit Suisse, DBS Bank, Mizuho Bank and Rabobank joined as additional lenders in Facility C. The new operating groups were created in early 2020 following the announcement of the Re-organisation of Olam to unlock and maximise its long-term value. OFI intends to seek a primary listing on the premium segment of the London Stock Exchange, and a concurrent secondary listing in Singapore in H1 2022. SOURCE:https://brandspurng.com/2022/01/28/olam-secures-us4-0-billion-of-financing-facilities-as-it-progresses-on-re-organisation/
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| Business / Mastercard Is Planning New Payment Technology In Nigeria by postbox: 11:54am On Jan 27, 2022 |
Mastercard and Network International have collaborated to launch a new digital payment acceptance technology that will allow 500,000 new merchants in African and Middle Eastern countries to use mobile phones as payment terminals. According to a statement, the new payment solution will be based on Network International’s Tap on Phone technology. The ‘Tap on Phone’ technology, according to the statement, is powered by Mastercard Payment Gateway Services, which allows small and medium-sized businesses to accept payments via smartphone. “Customers will simply tap their card or device to make the payment on the SME merchant’s phone,” the companies said, with each transaction processed through MPGS. “Tap on Phone is an innovative, affordable, convenient, and welcome addition to the payment ecosystem in an omni-channel environment where consumers increasingly want more choice in how they pay.” “Small businesses are critical for systemic economic recovery,” said Gaurang Shah, Senior Vice President, Head of Products, EEMEA, Mastercard. “By connecting more SMEs to digital commerce tools and affordable payment acceptance solutions, we are putting in place a strong foundation that can facilitate sustainable growth.” “Mastercard is committed to providing every business with the technology and solutions it requires to thrive.” According to the statement, SMEs recognize the value of digitalization and have identified digital payment acceptance as a key driver of growth. It went on to say that in order to ensure that SMEs had all the support they needed to go digital and grow, they would collaborate with government, financial organizations, fintechs, and the broader business community to create opportunities for SMEs across the region. “As a leading enabler of commerce, we remain committed to connecting SMEs, the backbone of any economy, with innovative solutions that will drive wider acceptance across the region,” said Andrew Key, Group Managing Director, Acquiring, Network International. “Through the launch of Tap on Phone, we are proud to partner with Mastercard to expand opportunities for entrepreneurs.” SOURCE:https://brandspurng.com/2022/01/27/mastercard-is-planning-new-payment-technology-in-nigeria/
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| Business / Avoid Loan Sharks, Leverage On Microfinance Banks, Emefiele Tells Nigerians by postbox: 10:59am On Jan 27, 2022 |
Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says Nigerians should beware of illegal money lenders, known as loan sharks. https://brandspurng.com/2022/01/26/avoid-loan-sharks-emefiele-tells-nigerians/ 7 Likes 2 Shares
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| Career / Top Employers Institute Recognises Olam International For Excellence In HR by postbox: 11:45am On Jan 26, 2022 |
Olam, the global food and agri-business, has been recertified by the Top Employers Institute in 2022 for excellence in HR practices for the Africa region. The Company’s operations in Cote d’Ívoire, Ghana, Nigeria, South Africa, has been awarded for the strength and maturity of their HR practices. The auditing survey from the Top Employers Institute highlighted Olam as excelling in each of the assessment categories, which included people strategy, organization and change, career, digital HR, work environment, employer branding, talent acquisition and onboarding, performance management, learning, wellbeing, rewards and recognition, diversity and inclusion, and sustainability. Jaideep Biswas, Senior Vice President & Regional Head of Human Resources, at Olam, said: “To have secured the Top Employer Certification for two consecutive years reinforces our belief that our team is our greatest asset. Even amidst a global pandemic, we did not reduce our focus. We were able to make our employees our top priority to keep them safe, engaged, and inspired. At Olam, we will continue to invest in our people because it makes business sense. I’m extremely proud of our team and grateful for this recognition.” Over the past three decades, Olam has grown to become one of the largest employers in Africa with a strong emphasis on best-in-class talent practices to engage a strong and diverse talent pool to support its business operations. These certifications demonstrate Olam’s ongoing commitment to identify, attract, develop and retain skilled talent at scale using innovative approaches tailored to each country’s specific needs. Top Employers Institute CEO David Plink says: “Olam has continued to show that it prioritises maintaining excellent people practices in their workplace. In the past year they continued to meet the challenges of the wider world of work while working determinedly to positively impact the lives of their workforce. We are pleased to celebrate and applaud the organisations that have been certified as Top Employers in Africa this year.” Top Employers Institute is the global authority on recognising excellence in people practices. To be eligible, the company must have at least 250 local or 2,500 employees globally as well as advanced HR practices. A certification programme that enables organisations to assess and improve the workplace environment. Each year, The Top Employers Institute programme certifies organisations based on the participation and results of their HR Best Practices Survey. This survey covers 6 HR domains consisting of 20 topics such as People Strategy, Work Environment, Talent Acquisition, Learning, Well-being and Diversity & Inclusion and more. The programme has certified and recognised more than 1857 Top Employers in 123 countries/regions across five continents this year. SOURCE:https://brandspurng.com/2022/01/26/110492/
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| Politics / Ibom Power Is Planning A 500MW Power Plant by postbox: 11:31am On Jan 26, 2022 |
Ibom Power Company Limited plans to expand on its current investment by building a 500MW power plant in addition to its current 190MW. Speaking to Energy Editors in Uyo, Akwa Ibom State, at the weekend, the power firm’s Managing Director, Engr Meyen Etukudo, said the licence acquired was for 685MW and had been renewed until 2028 He stated that one of the challenges confronting the power plant was its host Disco’s inability to absorb the amount of power generated. He stated that this is a giant leap that has not been recorded anywhere in the country, and that the government of Akwa State Ibom is the first to record such feat. He stated that Governor Emmanuel Udom made the decision not to wait for the Federal Government to invest in the project through TCN because it would go a long way toward resolving the power supply challenges that industries in the state face. He stated that the State Government’s gesture was also intended to ensure that schools and hospitals have uninterrupted power supply, and that it was regrettable that the State Government was doing all of this on its own, with no assistance from anywhere. He claimed that if the Governor had all the powers, he would have done far more to transform the country’s electricity sector, claiming that the Federal Government’s 40% stake in the Port Harcourt Electricity Distribution Company has prevented him from making the desired investment in that regard. Etukudo stated that Akwa Ibom is fortunate not to have faced gas challenges, stating that the gas pipeline laid to Ibom Power is sufficient to take approximately 400 million standard cubic feet of gas (scuf), which is sufficient to cover phase two of the 500MW power plant. Concerning debt, he stated that the power plant has not received 30% of its invoice from Nigerian Bulk Electricity Trader since he took over in 2016. (NBET). Currently, he claims that NBET’s debt to Ibom Power is in the billions of Naira, and that if it invoices N1 billion, it only receives about N300 million in payment. SOURCE:https://brandspurng.com/2022/01/25/ibom-power-is-planning-a-500mw-power-plant/
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| Politics / LCCI Commends CBN On E-invoice Implementation by postbox: 11:45am On Jan 25, 2022 |
LCCI has commended CBN over its recent guidelines on e-Evaluator and e-Invoicing that replaced hard copy final invoice, Brand Spur Nigeria reports. According to the Director-General of Lagos Chamber of Commerce and Industry (LCCI), Dr. Chinyere Almona, the initiative was a major step to arrest the age-long practice of over-invoicing which dodgy importers and exporters had over the years used to cart away the nation’s forex. According to the LCCI, the use of an e-Evaluator and e-Invoicing will speed up trade operations, increase income through more accurate invoicing, and minimize the time it takes to execute import and export paperwork. Dr Chinyere Almona, on the other hand, raised several concerns that the CBN should address in order to improve creativity. She said, “Ideally, for a critical change of this nature, there should be a pilot phase to help identify potential challenges and deal with these before the commencement date.” She also pointed out that the new guideline’s implementation date of February 1, 2022, was only 10 days after the guidelines were issued, which she felt was insufficient time for a smooth transition. LCCI Commends CBN On E-invoice Implementation She pointed out that concerns of legal liability were not clearly mentioned in the guideline, and that the dispute resolution procedure needed to be explained.“The CBN needs to establish an interactive and live customer complaints resolution section within the trade monitoring system to address any bottlenecks that may occur during transactions.” she said. She added “There is a need to clarify if the subscription fee of $350 is to be paid in Naira equivalence or foreign currency and if in the US Dollars whether affected users will be allowed to source the dollars through the CBN,” she said, adding that, “the 2.5 per cent around the vertical prices appears stringent and should be reviewed to about 5.0% given that discriminatory pricing may be a factor.” She stated that in order to build such a system, there should be more stakeholder participation and collaboration with the organized private sector. The adoption of a Global Price Verification Mechanism led by a benchmark price, according to the LCCI, is also praiseworthy. It said: “As we transit to a more automated system, there is a need to increase our investment in digital infrastructure to support the innovative digital products that are emerging in the country. We also encourage the federal government to automate more processes to reduce human interface as a way of curtailing corruptive tendencies in our trade chain.” The chamber also stated that the automation push should extend to port operations, where sensitive procedures are still performed manually, putting importers and exporters at a financial disadvantage. SOURCE:https://brandspurng.com/2022/01/25/lcci-commends-cbn-on-e-invoice-implementation/
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| Autos / Renault, Nissan To Triple Investment In Electric Vehicles by postbox: 11:37am On Jan 25, 2022 |
Renault, Nissan and Mitsubishi Motors plan to triple their investment to jointly develop electric vehicles, two people with knowledge of the plan told Reuters. As established automakers face pressure from new competitors and an expected shift in demand toward EVs, the French-Japanese alliance is seeking to deepen cooperation. The three are expected to announce on Thursday a plan to invest more than 20 billion euros ($23 billion) over the next five years on EV development, the sources said. By 2030, the alliance is expected to come up with more than 30 new EVs underpinned by five common platforms, they said. That is in addition to 10 billion euros the group has already spent on electrification, said the two people with knowledge of the plan. Spokespeople for Nissan, Renault and Mitsubishi did not immediately respond to requests for comment on Sunday. The “Alliance to 2030” plan aims to show “intensified cooperation” among the automakers, highlighting a “shared vision on electrification and connected mobility,” one source said. The five common platforms are expected to cover 90 percent of EVs the companies are expected to develop and launch by 2030, the sources said. 5 common EV platforms The three-firm alliance has developed and partly deployed four common EV platforms. One, called CMF-EV underpins cars such as the Renault Megane E-Tech battery-electric compact car and the coming Nissan Ariya, and another supports affordable no-frills cars that include the Dacia Spring minicar and similar models from Nissan and its China market partner Dongfeng. The other two are platforms for micro minis, called “kei cars” in Japan, and light commercial vehicles. By mid-decade, the alliance aims to deploy a fifth common platform for small EVs designed by Renault, the sources said. Nissan has already decided to use this platform, called CMFB-EV, and other standardized components to electrify the Nissan Micra small car, while Renault is expected to come up with a similar EV car based on the same platform, the sources said. The Micra EV is projected to be released by the mid-2020s. Renault plans to launch the full-electric Renault 5 small car by 2024 and has said it will build another small vehicle, likely a SUV, inspired by the classic Renault 4L. Affordable EVs The automakers hope to make compact EVs as affordable as gasoline-fuelled vehicles of similar size, the sources said. The three companies are expected to use common batteries and other key components. The alliance plans to jointly invest in capacity to produce in France, Britain, China and Japan a total of 220 gigawatt-hours of battery capacity by 2030 under the plan, the sources said. By standardizing and sharing batteries, the alliance expects to halve battery manufacturing costs, they said. The alliance is also expected to share solid-state lithium-ion battery technology, which Nissan has been developing, they said. The plan had been for the leaders of Renault, Nissan and Mitsubishi to announce the 2030 plan last autumn at an event in Japan, but the announcement was postponed until this week because of a surge in COVID-19 in Japan, the sources said. A disagreement between Nissan and Renault over the French firm’s proposals for a full-blown merger – tensions that burst into the open with the arrest of former alliance leader Carlos Ghosn in 2018 – corresponded with stalled efforts to collaborate on technology and vehicle development, people with knowledge of the matter have said. The three automakers all have their own hybrid technologies with few shared key parts and systems. The limited cooperation in sourcing and development has raised concern within the group about the ability to achieve cost savings, one source said. It was not immediately clear whether alliance leaders will discuss hybrids as part of their 2030 plan. Nissan said in November it planned to spend some $18 billion over five years to accelerate vehicle electrification, launching 23 electrified vehicles — including gasoline-electric hybrids — by 2030, including 15 EVs. Half of Nissan’s vehicle mix will be electrified by 2030, including EVs and e-Power hybrids, the company said. Renault has said its Renault brand will be 100 percent electric in Europe by 2030, but company officials told Reuters the target does not apply to markets outside Europe and the group’s other brands, such as Dacia. SOURCE:https://brandspurng.com/2022/01/24/renault-nissan-to-triple-investment-in-electric-vehicles/
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| Investment / Nigeria’s Forex Inflows Are Increasing by postbox: 10:06am On Jan 24, 2022 |
Foreign exchange inflows to the Nigerian economy increased by 65 percent in the third quarter of 2021, according to a report released on Saturday by the country’s central bank. The Central Bank of Nigeria (CBN) reported in its economic report that the country earned a total of $30.2 billion in the third quarter, a rise attributed to increased non-oil receipts and proceeds from Eurobonds, among other factors. “A disaggregation revealed that non-oil receipts increased to $14.97 billion, up from $4.60 billion in the previous quarter,” the CBN stated. However, receipts from oil-related sources fell by 2.7 percent to $1.86 billion, compared to the value in the second quarter of 2021, according to the CBN. “Foreign exchange inflow through autonomous sources was $13.37 billion, compared to $11.79 billion in the previous period, as a result of improved inflow from invisible purchases and non-oil export receipts,” according to the apex bank report. SOURCE:https://brandspurng.com/2022/01/24/nigerias-forex-inflows-are-increasing/
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| Business / Rama Steel Tubes Opens A Manufacturing Plant In Nigeria by postbox: 9:58am On Jan 24, 2022 |
Rama Steel Tubes (RSTL), India’s leading manufacturer of steel pipes, tubes, Hollow Sections, and G.I. pipes, announced the establishment of a 20,000 MT pa manufacturing facility at its step-down subsidiary RST Industries in Nigeria, West Africa. The company has already begun the expansion process for establishing the proposed facility in Nigeria; the expansion is expected to be completed in two tranches and will be fully operational by August 2022, with full capacity expected by Q3 of FY23. This additional capacity is primarily intended to broaden its current SKU repertoire to include Roofing Sheets. The total capital outlay for this expansion will be Rs 200 million, which will be funded through a combination of internal accruals and outside funding. Richi Bansal, Executive Director of Rama SteelTubes, commented on the announcement, saying, “The Contract is an exclusive arrangement for only the Nigerian region, and the total market size for these specialized steel in Nigeria is 50,000 MT per annum.” Finally, we expect to increase our market share in the coming years, and these SKUs are highly margin accretive, which will help to strengthen the blended margin profile. By executing similar engagements in the coming years, we will be able to strengthen our position in the region as a result of these contracts. We see this as a strategic initiative to improve our market share, product mix, and revenue drivers, which will ultimately strengthen and grow our consolidated performance.” SOURCE:https://brandspurng.com/2022/01/23/rama-steel-tubes-opens-a-manufacturing-plant-in-nigeria/
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| Career / Remote Working & Cybersecurity In Africa by postbox: 9:31am On Jan 21, 2022 |
In 2021, KnowBe4 , Lynchpin and ITWeb conducted surveys across Nigeria, South Africa and Kenya to unpack how remote working was influencing the security paradigm for organisations. The survey found that a significant percentage of companies will very likely continue leveraging remote working. At the time of writing the report, 57% of organizations in South Africa, 29% in Kenya and 32% in Nigeria will continue with remote working on a flexible basis, As Anna Collard, SVP of Content Strategy and Evangelist for KnowBe4 Africa points out, remote working may have become an invaluable tool for the organisation, but it comes with a security caveat – people have to be properly trained to recognise the risks inherent in online interactions. “One of the immediate defences against cybercrime is an employee that has been well-trained and understands how to spot and report cyber threats,” she adds. “People should know what a social engineering attack looks like, and why they should not click on links or open attachments. While many respondents in the survey believed that their remote workers were adequately trained to withstand social engineering attacks, a significant percentage was unsure as to how well their people would react to a security threat. And this points to an urgent need for security training.” People are both the problem and the solution. On one hand, they are the human firewall that can stand against the threats and play a huge role in mitigating security risks. On the other, they can be the vulnerability that bypasses the complex and expensive security by simply clicking on a link, or succumbing to a phishing attempt. Companies that are focusing on hybrid or remote working frameworks going forward will have to put training at the forefront of their policies and planning. Ultimately, a breach could cost them financially and reputationally – particularly now, in the era of rigorous protection of personal information legislation – and poor user behaviour is a leading cause of security incidents across the three countries. While the number of security incidents experienced by companies overall dropped in 2021, those attacks that got through used phishing, social engineering, ransomware and malware. Unintentional data leaks sat in the third position in South Africa alongside credential theft, while Kenya battled with phishing and ransomware. Nigeria’s biggest problems were social engineering and phishing. “Companies across Nigeria, Kenya and South Africa have also struggled with insecure home Wi-Fi networks and people sharing their corporate devices with family and friends,” says Collard. “The pandemic threw everyone in the deep end in 2020, and they all spent 2021 learning how to swim. Now, in 2022, it is time to redefine and reshape how the organisation manages security and remote working as effectively and dynamically as possible.” This means that companies need to refine their security awareness processes alongside providing training and education. The first step is to invest in robust security policies that outline the risks, and that inform users how to report and act when faced with a potential cyberattack. The simpler and more straight forward those processes and tools are, the higher the probability that people will play their part. While the report found that most companies have put a lot of time and effort into shoring up the security walls, many do not prioritise it as much as they should – often cutting security budgets and leaving IT teams with limited resources. “The reality is that cybersecurity is a constantly evolving landscape that expects organisations to evolve along with it,” concludes Collard. “As remote working gains traction and stability, cybercriminals are going to exploit every weakness they can find – from a poorly secured home network to a badly trained employee. This is the perfect time to establish a security culture within the business and prioritise its value and importance.” SOURCE:https://brandspurng.com/2022/01/21/remote-working-cybersecurity-in-africa/ |
| Politics / Godwin Emefiele : Rice Production Will Reach 9 Million MT In 2021 by postbox: 9:22am On Jan 21, 2022 |
Godwin Emefiele, Governor of the Central Bank of Nigeria, announced on Tuesday that the country’s rice production will increase to nine million metric tonnes in 2021, up from about 5.4 million MT in 2015. Emefiele, who made the announcement at President Muhammadu Buhari’s unveiling of 13 rice pyramids in Abuja, attributed the increase in production to Federal Government interventions in the agricultural sector. One of these interventions, he claims, is the CBN Anchors Borrower’s Programme, which has created a sustainable framework for financing smallholder farmers in Nigeria. He also stated that the program had assisted in lowering Nigeria’s import bill from countries such as Thailand. Emefiele stated, “The Anchor Borrowers’ Programme has catalyzed the rural economy and established a sustainable framework for rural development.” “For example, Thailand alone exported 1.3 million metric tons of rice to Nigeria in 2014. The ABP was launched in 2015 to curtail these imports, and since then, we have seen incremental reductions in rice imports from Thailand’s rice i had dropped to 58,000 metric tons by 2016. They only exported 2,160 metric tons to Nigeria as of the end of 2021, saving us foreign exchange and assisting in the preservation of Nigerian jobs. At the event, President Muhammadu Buhari assured Nigerians that better rice prices are on the way. ‘I am aware that the bags of paddy will be transported directly from here to rice milling plants across Nigeria, resulting in the release of processed rice to the market.’ SOURCE:https://brandspurng.com/2022/01/20/godwin-emefiele-rice-production-will-reach-9-million-mt-in-2021/
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| Politics / FGN Set To Launch A New Satellite by postbox: 11:02am On Jan 20, 2022 |
The Federal Government of Nigeria (FGN) has stated its intention to launch another satellite via the Nigerian Communications Satellite (NigComSat) before the end of 2022. Isa Pantami, the Minister of Communications and Digital Economy, stated this to journalists on Monday during a tour of the agency’s headquarters in Abuja. “That federal government approval that I obtained has been forwarded to NigComSat,” he says. It is now up to NigComSat to provide an answer to that question. I want to confirm that, as previously stated, 2022 is NigComSat and NIPOST year. I want to make certain that all ongoing projects are completed by 2022. “As I previously stated, the year 2022 has been set aside for NigComSat.” “I recently approved two NigComSat subsidiaries, and I am here to supervise what they have been doing, and I discovered some areas where we need to work to significantly improve their performance.” In order to overcome the issue of privatization, he stated that the agency must provide quality service while also generating a good revenue. “Before I was appointed Director General of the National Information Technology Development Agency (NITDA), there was the Oronsaye report, which recommended that NITDA be disbanded.” But, after I was able to increase revenue from N7 billion to N19 billion in a year, no one talks about scrapping NITDA again. “So, if you can turn things around, provide quality service, and generate revenue, no one will ever talk about privatizing your company again.” He continued. SOURCE:https://brandspurng.com/2022/01/20/fgn-set-to-launch-a-new-satellite/ 2 Likes 2 Shares
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| Family / Ways To Think Like A Kid by postbox: 11:34am On Jan 19, 2022 |
In some ways, our society seems dedicated to eliminating childhood. We often tell kids to stop acting like a child and grow up. Even the word “childish” has a negative tone to it. At some point in all our lives, we stop being kids and start being adults. Eventually, we all put down our toys and stop playing so we can take on bigger responsibilities. But as we grow up, we might be letting go of a little more than we should. Kids see the world in ways that we lose as an adult. When you’re young, you use your mind in creative, imaginative ways that can help you throughout your entire life, not just childhood. There’s a lot of hidden potential in thinking like a child. The good news is that childlike imagination and creativity still rests inside you – no matter how old you happen to be. Simply thinking back to when you were a kid will bring you into that mindset again. And when you tap into your inner child and embrace a childlike wonder, you can improve your life. Here’s how: Imagination and play boost creativity When you’re a kid, your imagination is unrestrained by rules. It’s unbound and free to go anywhere. This all changes by the time you become an adult. When you get older, you start to narrow your thinking as a result of entering “the real world”. You don’t flex your imaginative muscle very often so it doesn’t get used. When researchers at North Dakota State University asked two sets of college students what they would do with a day off, they primed one group to think like a seven year old first. They did this experiment with hundreds of students and the results were consistent. The groups that were told to think like a child regularly came up with better, more creative answers. The result is clear: if you want to be more creative, think like a child. You open up to more possibilities Kids don’t think in terms of limits. When you were a child, you honestly thought you could be an astronaut or president of the United States. You didn’t think of the world as a place full of endless obstacles. Somewhere along the way, you stopped believing. You stopped thinking things were possible and instead assumed things couldn’t be done. Believing in yourself is important. If you want to reach your wildest dreams, you need to have faith that you can accomplish them. Regain that possibility again. Think that it’s possible, not impossible. Kids don’t take life so seriously When you’re a child, your life is care-free. You don’t have the duties and responsibilities that the average adult has. Growing up means thinking about the future. It means worrying about paying the bills and all your responsibilities at work. With all of those responsibilities comes stress. Thinking like a kid again is a great way to unwind from the responsibilities of life. When you can tap into your inner child, you can fill your life with care-free fun again without worry or concern. Eventually, you’ll have to get back to being an adult again, but taking some time to be childlike can give you some much needed fun and relief. Healthy interactions Kids often use playing as a way to make friends and bond. Adults can learn a lot from that. Many workplaces have already learned the importance of play for productive work relationships. Some encourage art and yoga classes or provide games such as football and ping pong. They know that by playing together, they’re building bonds that make work a lot more productive. Not only that, but it leads to higher job satisfaction and morale. The same goes for long, healthy relationships. Through fun and regular play, we can learn to trust one another. Reduced inhibitions Have you ever watched a little kid sing or dance in public? They don’t seem to care who is watching or what others think about them. Children have an enormous capacity to be uninhibited. As we age, we erect barriers. We constrict ourselves to certain behaviors and care a lot more about what others think. But when we put these barriers up, we become more restricted. We don’t give ourselves the freedom to be who we are or do what we want. Scientists recently discovered that when jazz musicians improvise, they turn off an area of their brains linked to self-censorship and inhibition. In other words, to make better music, they turn off the inhibitions of their mind by thinking like children. By thinking like a child, you can regain that freedom again. SOURCE:https://brandspurng.com/2022/01/18/how-to-think-like-a-kid/ 1 Like 1 Share
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| Food / Fruit Lager Company Jubel Raises £2.7m In Funding by postbox: 10:31am On Jan 19, 2022 |
UK fruit lager company Jubel has announced that it has raised £2.7 million in an investment round to support its expansion. The round included Nigel Wray, Stephen Hemsley, a former CEO of Domino’s Pizza Group, and CEO of Primary Health Properties Harry Hyman, as well as further backing from drinks distributor C&C Group. The brand produces craft lager cut with fruit, which is brewed with British hops and barley as well as fruit extracts sourced from a sustainable, organic British farm. The alcoholic beverages are also vegan, gluten-free and have an ABV of 4%. Jubel’s fruit-infused craft lager range includes peach, elderflower, grapefruit and mixed variations. Michael Saunders, agency brands director at C&C Group, said: “The Jubel team have done a fantastic job of growing the brand significantly since we first invested back in 2019. It was a no-brainer for us to invest further in the brand and we’re very excited to continue supporting the growth of this new category space between lager and fruit cider that Jubel is pioneering.” The brand is sold in Sainsbury’s, Waitrose and Whole Foods, with the retail channel making up 25% of its revenue. SOURCE:https://brandspurng.com/2022/01/18/fruit-lager-company-jubel-raises-2-7m-in-funding/
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| Politics / Central Bank Of Nigeria To Spend $8 Billion Defending The Naira In 2022 by postbox: 10:47am On Jan 18, 2022 |
Bismarck Rewane, Managing Director of Financial Derivatives Company Ltd and economist, painted a mixed picture of the economy yesterday, projecting that the Central Bank of Nigeria (CBN) will spend between $8 and $10 billion this year to defend the naira. https://brandspurng.com/2022/01/17/rewane-central-bank-of-nigeria-will-spend-8-billion-this-year-to-defend-the-naira/ 5 Likes
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| Business / Nigeria’s Off-Grid Solar Market Is Among The Fastest Growing In Africa by postbox: 11:21am On Jan 17, 2022 |
According to a study conducted by Boston Consulting Group and All On, a Shell-funded impact investment company, Nigeria’s off-grid solar market is among the fastest growing in Africa, increasing at a 22% average annual rate over the last five years.https://brandspurng.com/2022/01/17/nigerias-off-grid-solar-market-is-among-the-fastest-growing-in-africa/ 4 Likes 1 Share
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| Computers / Global PC Shipments Hit 340 Million Units In 2021, Stronger Growth Expected by postbox: 11:13am On Jan 17, 2022 |
The PC market ended 2021 with a bang, as fourth-quarter shipments exceeded 90 million for the second year in a row. The latest Canalys data shows that worldwide shipments of desktops, notebooks and workstations grew 1% year on year to 92 million units over 91 million a year ago. This pulled up total shipments for full-year 2021 to 341 million units, 15% higher than last year, 27% higher than 2019 and the largest shipment total since 2012. Furthermore, the industry saw strong revenue gains, with the total value of Q4 shipments estimated at US$70 billion, an annual increase of 11% over Q4 2020. For the full year, revenue passed US$250 billion in 2021 against US$220 billion in 2020, up 15%, highlighting the seismic transformation in the industry. The two-year compound annual growth rate of 13% from 2019 emphasizes how dramatically the importance of PCs has grown since the onset of the COVID-19 pandemic. Notebooks and mobile workstations continued to lead the charge, with shipments of these devices growing 16% in 2021 to reach 275 million units. Desktop and desktop workstation shipments increased 7% in 2021 to reach 66 million units. “2021 was a watershed year in the history of the PC market, with the PC’s place at the center of work, learning and leisure truly cemented,” said Ishan Dutt, Senior Analyst at Canalys. “For the market to post double-digit growth over an impressive 2020, despite the constant cloud of supply constraints, speaks volumes about how strong PC demand has been over the last 12 months. Taking a long-term view, the most important developments in 2021 were the large increases in PC penetration and usage rates. PCs are now in the hands of both young students and older family members, while ownership of two or more PCs per person has become more common in developed markets. Since the onset of the pandemic, a larger than normal proportion of PCs shipped have been new additions to the installed base rather than replacement devices, especially in areas such as education and remote work. This has set the stage for continued success for the PC industry as there is no turning back from how embedded they are in our day-to-day lives.” Lenovo took first place in the PC market in Q4 with total shipments of 21.7 million units, an annual decline of 6.5%. It was also the biggest-shipping vendor for full-year 2021, hitting a record 82.1 million units, a 13.1% increase on 2020. HP ranked second, with Q4 shipments of 18.7 million units helping it reach 74.1 million units in 2021, growth of 9.5% over 2020. Third-placed Dell posted stellar growth of 8.9% in Q4 to reach 17.2 million units and increased its market share by over 1%. Dell ended 2021 with total shipments of 59.3 million units for the year. Apple came fourth with Q4 growth of 9.0% and full-year growth of 28.3%, making it the best-performing vendor in the top five. It shipped 7.8 million units in Q4 and 29.0 million units in full-year 2021. Acer rounded out the top five for both Q4 and the full year, posting shipments of 6.6 million in Q4 and 24.4 million units in 2021. “While 2021 was the year of digital transformation, 2022 will be the year of digital acceleration,” said Canalys Principal Analyst Rushabh Doshi. “Demand for technology has boomed in the past two years, the effects of which continue to disrupt the supply chain, affecting not just availability of PCs, but also smartphones, automobiles and servers. As PC vendors navigate an ever more complicated situation, consumer spending patterns are shifting. We will see revenue growth in the industry from spending on premium PCs, monitors, accessories and other technology products that enable us to work from anywhere, collaborate around the world and remain ultra-productive. The importance of faster, better, more resilient and more secure PCs has never been greater, and the industry is willing to innovate and push the boundaries to keep this momentum going.” From a market standpoint, the US continued to see shipments fall for a second consecutive quarter, primarily due to a strong fourth quarter for Chromebooks in 2020. EMEA and Asia Pacific (excluding Japan) were bright spots, as shipments grew by double digits over last year. SOURCE:https://brandspurng.com/2022/01/14/global-pc-shipments-hit-340-million-units-in-2021-stronger-growth-expected-in-2022/ 1 Like
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| Food / Coca-cola Launches JAMII by postbox: 6:25pm On Jan 14, 2022 |
Today, Coca-Cola Africa Operating Unit (“AOU”) and its bottling partners announced the launch of JAMII, the new Africa-focused sustainability platform. The platform houses the Company’s existing and new sustainability initiatives. Through this signature platform, Coca-Cola hopes to attract like-minded partners to help accelerate on-the-ground impact of its initiatives. The new platform will build and expand on the past accomplishments in three areas; water stewardship, the economic empowerment of women and youth and waste management. This will be delivered together with bottling partners, system employees, and several NGO partners. “We recognize the responsibility we have as market leaders to make a meaningful difference – to empower and protect the communities and the environment in which we operate. Whether it is giving people access to safe drinking water, creating economic opportunities for people in dire need of it, or reducing the impact of our operations on the environment- we are committed to making that difference,” said Bruno Pietracci, Africa President at The Coca-Cola Company. Patricia Obozuwa, AOU Vice President for Public Affairs, Communications and Sustainability added; “We chose the name JAMII, a Swahili word that means Community, Society, People – because it represents who we are as Africans and aligns with our values as an organization- our resilience, our commitment, and our spirit of community. Consolidating our sustainability efforts under this umbrella will allow us to strengthen our value proposition and make good on our promise to continue to be a trusted partner for sustainable growth in Africa.” In the area of women and youth economic empowerment, JAMII will promote and stimulate entrepreneurship opportunities through the provision of improved access to skills training, networks, finance & markets. To date, over 2 million women across Africa have been economically enabled as part of the 5by20 program. In the area of water stewardship, we will replenish 100% of the water used in production of our products by managing water use efficiency in our operations, supporting the conservation of natural water resources and improving community water access and climate change adaption. So far, combined efforts by Coca-Cola Africa, The Coca-Cola Foundation and its partners have resulted in sustainable access to drinking water for over 6 million people through the Replenish Africa Initiative (RAIN). For waste management, Coca-Cola Africa is committed to driving a world without waste. Nearly all of Coca-Cola’s packaging is already recyclable with the goal of recycling the equivalent of 100% of its packaging waste by 2030. Obozuwa added that “Coca-Cola Africa is already forming new partnerships to facilitate the implementation of JAMII projects that will deliver on these goals.” Internally, JAMII will inspire employees to make a difference in their immediate communities. Employee-nominated charities will receive grants and employee volunteering will be encouraged. Also, The Coca-Cola Employee Disaster Relief Fund will support employees facing financial hardship as a result of a natural disaster. SOURCE:https://brandspurng.com/2022/01/14/coca-cola-launches-jamii/
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| Sports / AFCON 2021: Why The Stadiums Remain Empty by postbox: 11:37am On Jan 14, 2022 |
The exceptional atmosphere of the opening match of the African Cup of Nations has died down and the host country is struggling to fill its stands. Several obstacles have dampened the enthusiasm of the fans. Brand new stadiums, decent pitches, attractive fixtures… The first few days of the 2021 AFCON have been filled with excitement and anticipation, but the stadiums are still empty. After the exceptional crowd of the opening match of 9 January because of the national team of Cameroon – the host country – the temperature has dropped following the lack of public supporters in the various stadiums. An hour after the match between the Indomitable Lions and the Stallions of Burkina Faso, the stands of the Olembe stadium had already emptied when the Ethiopian and Cape Verdean players entered the scene. In Bafoussam stadium, where the matches of one of the favourites, Senegal, are played; in Mfandena, where Morocco is housed; in Douala Japoma stadium, in which Algeria played its first match on 11 January… None of them could bring in enough people. The only exception, so far: the duel between Nigeria and Egypt, which was played at the Roumde Adja stadium in Garoua, filled for the occasion up to the 60% authorised by the African Football Confederation (CAF). Overly strict health protocol? There are several reasons why fans are shunning the stadiums. The main one is undoubtedly the heavy sanitary protocol adopted by CAF and the organising committee to limit the spread of Covid-19. The rules are particularly strict, and many clubs – particularly European ones – have demanded that their players be allowed to participate in the competition only with the rules in place. Only those who have been duly vaccinated, and who have tested negative for the virus within the last 48 hours, can attend the matches. In a country where less than 2.5% of the population had received their doses a week before the CAF kicked off, the vaccination requirement excludes a large proportion of potential fans. “CAF needs to reconsider certain provisions. We can maintain the anti-covid tests and masks, but do without the vaccination obligation,” says Landry, a supporter from Yaounde. The quality of the show depends on it. The schedules of some of the matches scheduled during this first phase of the competition – as early as 2pm for some – and the price of tickets, are also at issue. Depending on the category, tickets range from 3,000 to 8,000 CFA francs (about 4.5 to 12 euros). And the prices go up as the competition progresses: in the quarter-finals, you have to pay at least 5,000 CFA francs – and up to 15,000 CFA francs. For the final, the precious tickets will cost between 7,000 and 20,000 CFA francs. “Selling tickets at these prices in a country where the monthly salary is less than 60 euros is discouraging for many,” said a sports journalist from a Cameroonian television station. On Twitter, Cameroonian journalist Annie Payep also believes that “prices should be lowered” and that “conditions of access to stadiums should be eased”. Kamto’s appeal While some called for the removal of health barriers, others put forward the idea of a boycott of the competition for political reasons. Several activists have threatened to desert the stadiums, like the Jesuit priest Ludovic Lado, who wanted to denounce the “arbitrary arrests of opponents” and draw attention to the security crisis in the country’s English-speaking regions. However, this project was thwarted by the opposition leader, Maurice Kamto, who urged Cameroonians to “welcome all foreigners with dignity and African hospitality, while carrying the Indomitable Lions to victory. In an effort to fill the stadiums, the government has sent multiple messages to the population. In a statement released on 11 January, the Minister of Communication, Rene Emmanuel Sadi, called for “a mobilisation of all to fill the stands of stadiums throughout the competition and in all sites hosting the games. It is not certain that the call will be heard if CAF does not agree to relax the sanitary rules and if ticket prices remain at their current level. SOURCE:https://brandspurng.com/2022/01/14/afcon-why-the-stadiums-remain-empty/
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| Business / Oil Price Hits $85 A Barrel — First Time In Three Months by postbox: 10:42am On Jan 14, 2022 |
Oil price surpassed $85 a barrel for the first time in three months. On Wednesday, Brent crude futures, the global benchmark, rose 1.66% to $85.11 a barrel by 19.06 GMT+1, while West Texas Intermediate (WTI) crude futures increased 2.25 percent to $83.05 a barrel. The price of Brent crude had crossed the $85 mark on October 15, 2021. Last week, the Organisation of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, decided to increase oil output by 400,000 barrels per day. Morgan Stanley, a multinational investment bank, had predicted that Brent crude would climb $90 a barrel in the third quarter of this year. The bank added that it expects oil prices to “overshoot” to $125 a barrel this year and $150 in 2023. In the 2022 budget, President Muhammadu Buhari earmarked $62 per barrel as the oil benchmark, up from the $57 per barrel in 2021. Rising oil prices would translate to an increase in Nigeria’s oil revenue. However, Nigeria has been ploughing its oil revenue into fuel subsidy shortfall payments, which stripped the country of more than N1 trillion last year. SOURCE:https://brandspurng.com/2022/01/14/oil-price-hits-85-a-barrel-first-time-in-three-months/
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| Investment / Dangote Cement To Repurchase 170 Million Shares In Second Phase Of Buyback by postbox: 9:37am On Jan 13, 2022 |
Dangote Cement Plc said it would purchase 170 million units of its common stock from the open market in the latest phase of the share buyback scheme it launched in December 2020, a move hoped to drive its share price given that fewer shares will be available for trade on completion of the exercise. “The shares being repurchased by the company under the share buy-back programme will be held as treasury shares and may subsequently be cancelled,” the cement maker said in a regulatory filing on Wednesday. “Execution of this Tranche II is not expected to have any material impact on the company’s financial position.” Shares in Dangote Cement jumped 6.18 per cent in Lagos on Wednesday following the disclosure. Nigeria’s biggest company by market capitalisation is looking buy back 10 per cent (1.7 billion units) of its outstanding shares as management sees its current valuation as being lower than it should be and is banking on the repurchase to drive up price. It repurchased 0.24 per cent (40.2 million units) of its ordinary shares for N9.8 billion in the first tranche at the end of 2020, having set out to acquire 0.5 per cent. Dangote Cement first declared the ambition two years ago before the pandemic stood in its way and now expects the second phase to run from 19th to 20th January. Meristem Stockbrokers Limited and Vetiva Securities are joint stockbrokers for the transaction. Majority-owned by Africa’s richest man Aliko Dangote, the market value of the company stands at N4.7 trillion as of Wednesday. SOURCE:https://brandspurng.com/2022/01/13/dangote-cement-to-repurchase-170-million-shares-in-second-phase-of-buyback-scheme/
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| Travel / Airlines Turn To Soybeans For Jet Fuel by postbox: 12:13pm On Jan 11, 2022 |
Individuals in the U.S and farmers stand to benefit from efforts by airlines to clean up their carbon footprint by switching to sustainable aviation fuel — made primarily from soybeans. Mac Marshall of the United Soybean Board talked with Steve Alexander about the projected needs of the airlines and how crush and processing plants are ramping up to meet the demand. Fatty acids from soybean oil can be turned into an array of industrial products normally made from petroleum, including fuel, ink and paints. One appeal of plant-based products is that they recycle carbon found in the atmosphere. ARS scientists say this makes plants a far more renewable resource than petroleum and other fossil fuels, which add carbon to the atmosphere as they’re processed and used. Blends using biofuels are one of the ways the aviation industry is working to reduce its “carbon footprint,” or total emissions of greenhouse gases — particularly carbon dioxide — which amounted to 905 million tons in 2018. One approach to making soy jet fuel relies on the use of a precious metal called ruthenium to catalyze reactions that chemically modify the structure and properties of the oil’s unsaturated fatty acids. The problem with this approach is that it generates too few aromatic compounds. To get around the problem, scientists replaced ruthenium with iridium as the chief catalyst in a six-step procedure. In laboratory-scale experiments, use of the approach on high oleic-acid soy oil produced jet fuel formulations containing enough aromatics to be compatible with conventional jet fuels — and beyond what ruthenium-based methods can achieve. The advancement opens the door to increased blending of bio- and conventional- jet fuels as an emissions-cutting measure. The method also generates little or no naphthalene, a jet fuel component that emits soot upon combustion. SOURCE:https://brandspurng.com/2022/01/10/airlines-turn-to-soybeans-for-jet-fuel/
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| Business / Profitable Business To Start With 100k In 2022 In Nigeria by postbox: 10:22am On Jan 10, 2022 |
Year 2022 is just starting and it is advisable you get to know profitable businesses to start the year with. Brand Spur Nigeria has obtained top 10 profitable businesses to start with 100k in 2022 in Nigeria with a detailed guide on each of the businesses listed below. This online Brand and Business news platform understands that the year 2022 is just starting and a lot of our Nigerian readers are thinking of a good business to start up as a main hustle or side hustle. So read on lets share some mind blowing ideas with you that will lead you to financial freedom in the year 2022. With the current hardship in the country there are so many business to start with 100k in Nigeria and be successful, but sometimes you may find it difficult to think of such businesses thereby investing your money in the wrong business. If you are confused about the type of business idea to start with 100,000 naira in Nigeria and be successful, then you are in the right place. Brand Spur Nigeria notes that so many businesses in Nigeria started small and then grew to what the businesses are today, hence a need to compile a list of top 10 profitable business to start with 100k in 2022 in Nigeria. 1. Food Stuff Business Food is one of the basic needs of human beings, and so one cannot survive without it. This makes food stuff business one of the best business to start with 100k in Nigeria and be successful. Foodstuffs sell very well because of their gross importance in human life. With 100,000 naira, you can start a foodstuff business at any location where people are. Furthermore, before starting a foodstuff business, you must know the type of raw foodstuffs you want to sell, then you source for suppliers who are farmers. You can sell them both online and offline depending on the provisions you’ve made for transportation. Examples of foodstuff to sell are: Rice Beans Corn Garri Potato Cocoyam Crayfish Yam Flours, etc. 2. Cooking And Delivery Business Cooking and delivery is a best business to start with 100k in Nigeria. Everybody likes food but not everybody can cook tasty food. Moreover, nowadays people find it difficult to cook because of their busy schedules. Some families eat processed food which is not good for their health. If you have the cooking skill and a passion for cooking, you can easily start this business with less than 100,000 naira. You do not even need to rent a shop for this business, you can cook in your house and deliver it to customers in their homes and offices. You can also cook and sell at a busy junction. Basic Things You Need To Purchase when starting your cooking and delivery business are: A gas cooker Pots Pans Plates of different types and sizes Grinder/blender Coolers/stock pots Spoons and forks of different sizes Toothpick/serviettes. It’s not necessary you buy everything at a time, buy what your money can afford, and subsequently when you start making profits buy the remaining ones. 3. Car Wash Business In this era, the car wash business is one of the most lucrative businesses anybody can start with 100,000 naira. Nowadays many people do not have the time to wash their cars, some are stressed after the day’s work and some cannot wash their cars well and the only option they have is to take it to the car wash. Car wash is a business you can start anywhere there are many cars and adequate water supply. The car washing business thrives at every season—the rainy and dry season—in Nigeria, so you won’t have any drawbacks while operating the business. Moreover, a good location is essential for starting a car wash business. You need to choose a place that is visible to everybody. If you cannot rent a place, you can go from house to house to wash cars for people. No doubt car wash is a great business to start with 100k in Nigeria and be successfully. Tools You Need To Start Your Car Wash Business Car wash machine Water supply Storage tank Generator set Bucket, soap/detergent Brushes for tyres Towels, etc. 4. Selling Of Fairly Used Goods Or Clothes Another business idea you can start with 100,000 naira is selling fairly used goods and clothes. Most Nigerians buy fairly used items like gadgets, clothes, shoes, household items, etc. You can purchase these items and sell them both online and offline. Again, with 100,000 naira, you can start selling thrift wear popularly known as okrika. Plenty of people prefer buying Okrika to brand new clothes. Moreover, the poor economy of the country has made people buy what they can afford and not what they wish to buy. Where To Buy Okrika Clothes In Lagos are: Balogun Market Yaba market Tejuosho Aswani market Oshodi market Katangua market Badagry market, etc. 5. Laundry Business This is a business idea that is very lucrative, yet easy to start. Nowadays, people are so busy that washing clothes are not on their agenda, and this has created job opportunities for people. A good location is important to your laundry business. It is advisable to consider locations in open places with less competition where people can see you easily. Your location should be residential areas, estates, or high-income neighborhoods, and a place you can easily access clean water, etc. Basic Materials For Starting A Laundry Business Buckets Laundry detergents/soaps Pressing Iron Ironing board Starch Garment conveyor Nylon and tags Power generator Shelves 6. Palm Oil Business If you are still not satisfied with the business ideas I’ve mentioned above then you need to consider the palm oil business. The palm oil business is one of the most profitable businesses anyone can do in this era because of its diverse usefulness. Almost everybody uses palm oil to cook, you can even decide to be exporting it to other countries which would generate much income. Moreover, palm oil does not have a steady price, you can buy and store palm oil when it is cheap and sell it when it becomes expensive. Things To Consider When Starting Your Palm Oil Business Below are the top important things you should consider when starting your palm oil business. Choose your palm oil business model Get your storage space and storage tanks. Get your rubbers Arrange with suppliers Decide on transport arrangement Market and sell your palm oil. 7. Fruit Drink Production And Sales This is another profitable business to start with 100k in Nigeria, and be successful. A growing number of people prefer freshly squeezed juice without coloring, flavors, and preservatives. Moreover, people are becoming increasingly aware of the health implication of processed food and drinks, this has made people shun soft drinks to naturally made fruit drinks making this a great business opportunity. To start this business, there are certain things to do and you will also need a very good location that will enhance sales. Location to sell your fruit drinks options are: A roadside stand Shopping mall Fitness centers Cafes You can sell it wholesale to grocery stores or restaurants. Moreover, to start this business, you need to purchase manufacturing equipment. Basic manufacturing equipment includes: Fruit elevator Fruit washer Fruit crusher Pre-heat machine Juice extractor, etc. 8. E-payment/POS Business POS (point of sale) business is a cash-making business that has gained serious popularity. Some people hate queueing in banks to withdraw money, they prefer using POS that is even closer to them even though they are charged a transaction fee. With 100,000 naira, you can become a banking agent and own an E-Payment outlet. You can get your POS from the bank. To become an agent, you would need to go to the bank of your choice and do the necessary registration. After the registration, you would be given a POS machine. Banks give POS for free but terms and conditions apply. Moreover, banks charge you a certain percentage for every transaction you perform. Learn how to start a POS business in Nigeria. Below is a list of some of the banks that gives POS machines in Nigeria. Zenith Bank, First Bank, Access Bank, Eco bank, Skye Bank, Fidelity Diamond bank, etc. Each bank has its mode of operation, you just have to go and get details on what is required to get a POS machine. 9. Popcorn Business Popcorn business is one of those businesses that are yet to be fully tapped. Popcorn business is self-sustaining, it can make someone wealthy over time when there is consistency and dedication. Popcorn is a snack gotten from the popping of corn from a heated surface. Many people love popcorn, therefore you can’t go wrong exploring this business idea. The business is not stressful, it does not waste time, you can start with a small amount of money, grow and manage it alone at the comfort of your home. To sell your popcorn very well, you need to target supermarkets, schools, canteen, hotels, stores, eateries, markets, etc. It is also advisable to position your popcorn machine on a busy road, market, high commercial area, etc for more sales. Also See: How To Finance A Small Business Idea In Nigeria Ingredient Needed For Popcorn The following ingredients are what you need to make Popcorn. Corn Sugar Salt Vegetable oil Butter Flavor Powdered milk Items Needed For Popcorn Business Big bowl Showcase Nylon Popcorn machine Scooping spoon Gas cylinder 10. Mini Importation Business Mini importation business is one of the best profitable business to start with 100k in Nigeria and be successful. People are making money importing goods from other countries cheap and selling them expensive here in Nigeria. You just need to do your marketing right if you want to excel in the business. Before you venture into the mini importation business, you need someone to guide you, and also, you need to start with the products people buy most. You need to do your market survey before ordering any goods. You can import from China or any other country depending on what you want to sell. Learn how to start a mini importation business in Nigeria. Things You Can Import Are: Phones Travel bags Earpiece Clothing’s Electrical appliances Grater Blender Portable USB best lamp Jewelry Wireless phone chargers, etc. 11. Agricultural Business Presently, the agricultural business is very profitable in Nigeria as farm products are consumed daily. Before you venture into the agricultural business, you need to have basic knowledge of the area you want to explore. There are a lot of agricultural business ideas aspiring entrepreneurs can go into with 100,000 naira. These Agricultural business ideas are: poultry farming, snail farming, Vegetable farming Mushroom farming Plantain farming Catfish farming, Rabbit farming. SOURCE:https://brandspurng.com/2022/01/08/profitable-business-to-start-with-100k-in-2022-in-nigeria/ 1 Like
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| Autos / Fixit45, CFAO Motors Work Together On Spare Parts by postbox: 6:31pm On Jan 09, 2022 |
Fixit45, an autotech platform, has announced a collaboration with CFAO Motors to make auto spare parts affordable and easily accessible to vehicle owners in Nigeria. In a statement, the company stated that it had collaborated with Winpart, a subsidiary of CFAO Motors, to improve the sourcing and distribution of auto spare parts in the country. It stated its commitment to enabling and facilitating value-creating interactions among automotive stakeholders. Fixit45 announced the launch of ‘Xparts,’ an e-commerce and search platform for auto parts sourcing and delivery. Winpart is an independent aftermarket automotive spare parts wholesaler that distributes top-quality certified spare parts sourced directly from original equipment manufacturers, according to the statement. Patrice Porte, Managing Director of CFAO Motors, was quoted at a signing ceremony in Lagos as saying that CFAO had been committed to delivering value to Nigerian consumers for the past 118 years. He claimed that the automaker’s knowledge of the African market enabled it to provide tailored solutions to customer needs. “This partnership is a testament to our enduring legacy in this market,” he said. In terms of strategy and values, we see strong synergies and alignment between the two brands. We are encouraged that this collaboration will provide consumers with better services and more affordable products. “This is the start of a fantastic story that will positively shape the Nigerian aftersales market.” Justus Obaoye, CEO and co-Founder of Fixit45, reaffirmed the company’s core mission of enabling and facilitating value-creating interaction while emphasizing the importance of collaborations in moving the industry forward. SOURCE:https://brandspurng.com/2022/01/08/fixit45-cfao-motors-work-together-on-spare-parts/
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| Politics / BUA CEO, Abdul Samad Rabiu Ranks Top Among Wealthy Africans by postbox: 1:03pm On Jan 07, 2022 |
BUA CEO, Abdul Samad Rabiu has become a force to be reckoned with as one of the leading entrepreneurs in Africa with magic wands and a heart of Gold. Rabiu has carved a niche for himself as one the Richest billionaires in Africa and second in Nigeria. And his genuine philanthropic gestures across board is second to none. According to reports, BUA Foods Plc, one of the closely held businesses of Nigerian billionaire industrialist Abdul Samad Rabiu, completed the listing of its shares on the Nigerian Exchange on Wed., Jan. 5, after it received the requisite approvals from the regulatory authorities. Consequently, the net worth of Rabiu, the majority owner of one of Africa’s fastest-growing cement makers, BUA Cement, rose by nearly $1.9 billion to $7.2 billion thanks to the valuation of BUA Foods. His current net worth eclipsed the $6.6-billion wealth valuation of Nigerian telecom mogul Mike Adenuga. The consolidated food business is an operating unit of BUA Group, a well-diversified manufacturing conglomerate founded by Rabiu in 1988. The listing of 18 billion shares at N40 ($0.0968) each gave the food-processing firm an implied valuation of N720 billion ($1.74 billion). As of press time, January 6, shares in BUA Foods were worth N44 ($0.1065), 10-percent higher than their implied price. At the current price, the market capitalization of the consolidated food business increased to N792 billion ($1.92 billion). The value bump caused Rabiu’s fortune to increase from $5.3 billion to $7.2 billion. His net-worth valuation includes the market value of his 92-percent stake in his cement business, which is valued at $5.3 billion. The addition of his new business makes him Nigeria’s second-richest man ahead of Mike Adenuga, the founder of Globacom, Nigeria’s third-largest telecom company. Upon the listing of BUA Foods’ shares, the newly formed entity became the largest consumer goods company by market capitalization after Nestle Nigeria Plc, the Nigerian subsidiary of the Switzerland-based consumer goods giant, Nestle S.A. The successful listing of its shares comes nearly a month after BUA Group spun off its five food businesses, including BUA Sugar Refinery Limited, BUA Oil Mills Limited, IRS Flour, IRS Pasta and BUA Rice Limited. The group confirmed that the merging of its food businesses into a newly consolidated food company known as BUA Foods will help the conglomerate maintain its leadership status in the agribusiness and food-processing sectors. While speaking about his food business, Rabiu noted that listing the shares would help people realize the true value chain of the business and assist in dealing with Nigeria’s food crisis. “A lot of people do not know the size of this business, that is why we decided to merge all the food businesses into one entity. Now that we have done that, people will understand and appreciate the business,” he said. SOURCE:https://brandspurng.com/2022/01/07/bua-ceo-abdul-samad-rabiu-ranks-top-among-wealthy-africans/
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| Jobs/Vacancies / Do You Know You Don’t Need To Meet Every Qualification To Apply For A Job by postbox: 11:40am On Jan 07, 2022 |
If you are a recent college graduate, chances are you have taken several classes that you believe will help prepare you for your first job. Unfortunately, most of what you need to succeed in your work involves skills you never took a class to acquire. And that can complicate the application process. When you look at the qualifications for entry-level jobs, many of the items on the list may be things you have not yet encountered. Even when your new job involves technical skills that were covered in your classes, your future employer will likely use tools you haven’t seen before and rely on processes that go beyond what you studied. However, and this is important, just because you don’t have all of the qualifications doesn’t mean you shouldn’t apply for that job. One story I tell in my book, Bring Your Brain to Work, is that my oldest son, who was right out of college, was given an opportunity to apply for a position at a firm that normally was given to people with a few years of experience. He asked me what to do, and my response was that “If you’re completely qualified for the job you apply for, you aimed too low.” He ultimately got the role — and despite having a lot to learn, he has done well. Organizations expect people who are new to a role (and particularly people who are new to a firm) to grow into the position. They want new hires to ask a lot of questions, to seek out mentoring, and to even make a few mistakes as they get acclimated to a role. Do You Know You Don’t Need To Meet Every Qualification To Apply For A Job That means that you should look for positions that will stretch you, not ones where you can already tick all the boxes. Unfortunately, many people (particularly women) focus on potential jobs for which they are already overly qualified. There are upsides to doing this: they will “hit the ground running,” which often makes an employer happy and can boost the person’s self-confidence. But it’s unlikely the job will lead to much growth and being stagnant in a role can make it hard to transition to the next position. In particular, an upward trajectory in the workplace requires consistent acquisition of the set of skills needed to take on the next position. Learning these skills when you’re in a position for which you are overqualified will require that you learn “off the clock” rather than incorporating learning into the daily performance of your job. One factor that often holds people back from applying for jobs is imposter syndrome, which is the feeling that you’ve risen to a position you haven’t earned or deserve. People who experience this syndrome worry that if others knew how unqualified they were for their position that they would not be able to keep their job. But imposter syndrome is typically a farce. You can’t see other people’s thoughts so you may assume that they have a higher degree of confidence in their abilities than they probably do. Because of that, you don’t recognize how many other people have also had to learn significant new skills on-the-job, and so you shy away from positions for which you feel unqualified. Instead, it’s valuable to treat new positions as a challenge. Research by Carol Dweck and her colleagues develops the concept of a growth mindset, which argues that the best way to maintain an orientation to continue learning is to treat difficult tasks as a lack of skill (which can be acquired) rather than a lack of talent (which cannot). Organizational psychologists theorize that growth mindsets also lead to engagement with work. Practically speaking, it’s useful for almost everyone to treat job ads as though they are a set of guidelines about what a position involves, not a strict list of requirements that any applicant must have. It is important, of course, to have at least some of the skills a job requires up front. But nobody should limit themselves only to positions for which they are already overqualified. SOURCE:https://brandspurng.com/2022/01/07/do-you-know-you-dont-need-to-meet-every-qualification-to-apply-for-a-job/
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| Politics / President Buhari Appoints Board And Management Of NNPC Limited by postbox: 11:06am On Jan 07, 2022 |
President Muhammadu Buhari has appointed the Board and Management of the Nigerian National Petroleum Company Limited, in accordance with the power vested in him under Section 59(2) of the Petroleum Industry Act 2021. https://brandspurng.com/2022/01/06/president-buhari-appoints-board-and-management-of-nnpc-limited/
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| Politics / AMCON Will Publish The Names Of 7,912 Debtors by postbox: 10:54am On Jan 07, 2022 |
The Asset Management Corporation of Nigeria (AMCON) has announced that it will publish the names of 7,912 debtors who owe a total of N4.4 trillion.https://brandspurng.com/2022/01/06/amcon-will-publish-the-names-of-7912-debtors/ 1 Like
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