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 Politics › NNPC Signs $1.04 Billion Facility Loan With AFREXIM by postbox(op): 2:18pm On Nov 20, 2021 |
The Nigerian National Petroleum Corporation (NNPC) has signed a $1.04 billion facility loan deal with the African Export-Import Bank (Afrexim) for petroleum exploration in the country.SOURCE:https://brandspurng.com/2021/11/19/nnpc-signs-1-04b-facility-loan-with-afrexim/
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| Celebrities › Pasuma, Amokachi, Falilat Ogunkoya Thrill Fans, As Adron Games Kicks Off by postbox(op): 2:09pm On Nov 20, 2021 |
The annual sporting event organized by the foremost real estate company, Adron Homes and Property has flagged off today with many sporting and entertainment lined up at the International Stadium, Sagamu, Ogun State. Fuji music sensation, Alhaji Ajibola Pasuma provided a sensational opener for the game with thrilling vibes to mark the 6th edition of the Adron game. The annual event put together by ADRON homes for its staffs nationwide, is aimed at promoting and implementing a healthy work force, while also enhancing unity and bonding amongst members of staff. Also in attendance were many Nigerian sporting heroes such as; Daniel Amokachi, Austine Eguavoen and Falilat Ogunkoya. The sporting event which was officially declared opened by the GMD of ADRON homes and properties, Aare Adetola Emmanuelking said this year’s event will be a special one, aimed at promoting and implementing a strong healthy workforce, which is very key to organizational growth and impactful workforce. “Sports is very a powerful tool that unites the world and it is foreseeable in every sphere of life, that is why the ADRON games is very important. He said, “the ADRON games, will continue to grow bigger and stronger every year and in future; be like an Olympic event” he added. The event will be keenly contested by all Adron regional offices nationwide in sports such as; Football, Basketball, Volleyball, Badminton, track and field, Thug of war, table tennis and lots more. The aim is to accrue winners across all gaming activities which comes prizes. SOURCE:https://brandspurng.com/2021/11/19/pasuma-amokachi-falilat-ogunkoya-thrill-fans-as-adron-games-kicks-off/
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| Car Talk › Details About The All-New, All-Electric Toyota Bz4x by postbox(op): 7:41pm On Nov 18, 2021 |
Toyota’s all-electric bZ4X made its U.S. production model debut today. As a leader in electrification, Toyota’s introduction of bZ4X represents the first of a global series of battery-electric vehicles to be introduced under the global “Toyota bZ” brand umbrella. Once the rubber hits the road, Toyota bZ4X will have a manufacturer-estimated range of up to 250 miles for XLE front-wheel drive models. “With zero emissions and an exhilarating drive, the bZ4X is hitting the market at just the right time as we expand our already comprehensive electrified product lineup,” said Mike Tripp, vice president, Toyota Marketing. “As a human-centered company, Toyota remains committed to offering customers a diverse portfolio of products to meet their individual needs and move us toward a carbon neutral future.” bZ4X joins an extensive lineup of Toyota electrified vehicles that, in total, accounts for more than 24% of Toyota’s total U.S. sales volume. These include hydrogen fuel cell electrics, hybrids, plug-in hybrids and battery electric vehicles. Toyota envisions a future in which carbon neutrality is achieved through the practical marketization of a portfolio of products with advanced, alternative-fuel and zero-emission powertrain technologies. Toyota plans to expand to around 70 electrified models globally by 2025. This future lineup will feature 15 dedicated BEVs, including seven carrying the bZ (Beyond Zero) brand moniker. This diverse portfolio of electrified products will help propel Toyota toward its goal of carbon neutrality by 2050. Hi-Tech and Emotional, Both Inside & Out Based on the design theme “hi-tech and emotional,” the all-new, all-electric SUV offers styling that is as bold and modern as the vehicle itself. The front view of the bZ4X has an aero-dynamic design, and the curved shape of the front bumper expresses a certain uniqueness from other vehicles. The large hammerhead shark-like shape that runs from the hood to the top of the headlamps gives bZ4X a sleek silhouette. The rear design exudes a powerful stance, thanks to the combination lamps, rear hatch and bumper’s trapezoidal theme that extends all the way to the tires. The futuristic, edgy styling extends to the interior with premium finishes resulting in a distinctive look. With every detail purposefully engineered to create a sense of connection, it offers a driver-centric design that makes you feel like you’re one with the car. The unique instrument panel and precision-placed MID screen expands the vehicle’s feeling of space, while also helping to keep driver’s sight lines up and on the road. Soundproofing glass and wind-noise reduction features create a quiet refuge from the world outside. With the roominess one would expect from an SUV, the bZ4X interior offers a spacious and relaxing seat for passengers. The accessible USB ports (A and C) offer power and connection points in convenient locations. The panoramic roof provides a feeling of openness and brings the outside environment into the vehicle. Passengers will feel pampered, with abundant legroom for front and rear seats as well as copious side-to-side space in the rear. Intuitive, Focused Driving with Off-Road Performance The bZ4X offers the off-road performance you’d expect from a capable SUV, coupled with the smooth and fun driving performance inherent in an all-electric vehicle. Built on the BEV-dedicated e-TNGA platform, a first for Toyota, the bZ4X achieves impressive driving performance thanks to the high-capacity Lithium-Ion battery pack placed flat under the floor, which gives it a low center of gravity. Impressive handling is due in part to the battery cross-framing structure, which adds to overall vehicle rigidity. The adoption of a lightweight body structure partially made of high tensile steel, as well as the enhancement of frame components around the battery pack and the forward and rear suspension also contributes to the agile responsiveness of bZ4X. In addition, a redesigned accelerator pedal creates a smoother feel when accelerating and decelerating coupled with an intelligent throttle with slip suppression to provide impressive control on slippery roads. And, when you combine that with a new AWD system with X-MODE®, an available standout feature for bZ4X and a Toyota first, you get an exhilarating, yet comfortable, driving experience suited for everything from daily driving to light off-roading. Another impressive feature of the AWD system is Grip-Control, which leverages motor drive characteristics to achieve capable off-road performance – exceeding expectations at every turn. The engineering team also focused on features that maximize energy-saving and cruising range for year-round driving (particularly in winter settings). In addition to aerodynamic design choices and body weight reduction efforts, the following systems and equipment were adopted to reduce energy consumption, especially power used for heating in cold climates: Heat pump system for both heating and air-conditioning Seat and steering wheel heaters Front-seat radiant foot-and-leg heater (first for Toyota) Performance + Peace of Mind Determined to offer performance that also focuses on safety and peace of mind, Toyota aimed to develop a BEV that offers many years of satisfied ownership. This includes the consideration of overall driving range, particularly in cold climates, and targeting a battery capacity retention of 90% after 10 years of ownership. In terms of battery safety, Toyota added many measures to help ensure cell integrity was protected. A non-conductive coolant runs through separated flow channels to maintain optimal battery temperature. The battery pack housing is designed to withstand a collision from any angle due to its frame and cross-bracing design. bZ4X will be the first to feature the latest Toyota Safety SenseTM safety package (TSS 3.0). This system has been improved by expanding the detection range of the millimeter wave radar and monocular camera. Toyota has enhanced the performance of each function and added new functions to assist in normal driving conditions. For example, the Pre-collision system has been improved to offer Low-Light Cyclist Detection, Daytime Motorcyclist Detection and Guardrail Detection. Also, lane recognition is enhanced to add improved functionality while in Lane Tracing Assist mode. The goal of TSS is to help prevent accidents, further reduce traffic fatalities and injuries and ease the burden on drivers. Intuitive Tech The bZ4X is loaded with intuitive tech features. Owners will enjoy a user interface that offers interaction through sight, touch and voice. With a Drive Connect trial or subscription, the bZ4X offers navigation that uses map information from the cloud to obtain traffic information and parking space availability in real time. Digital key gives owners the ability to lock, unlock and start the vehicle with a tap of a smartphone. Designed to make life more convenient, digital keys can also be handed over between smartphones, making it easy for family and friends to borrow and lend vehicles remotely. Other features of the trial subscription include BEV specialized services such as charging station info, driving support info and vehicle driving range. Other notable features include: Over-the-air (OTA = wireless) software updates: Software updates to improve performance are also possible for Toyota Safety Sense and the multimedia system without needing to visit a dealership Compatible with high-output chargers worldwide (capable of 80% charge within one hour) Safety for the Environment By strengthening measures to help prevent and detect signs of battery failure, and introducing new technologies, the bZ4X adopted a design and a multiple monitoring system that is intended to provide safety and security of the vehicle’s battery system. This includes: A meticulous production process that helps eliminate contamination of battery components and ensures battery durability Redundant monitoring of battery voltage, current and temperature designed to detect signs and occurrence of abnormal heating to help prevent overheating Utilization of a high-resistance coolant circulation system, which can help prevent fire from short circuits even if there is leakage of the battery’s liquid coolant Integration of the high-capacity battery pack within the floor of the body frame structure designed to protect in the event of a collision SOURCE:https://brandspurng.com/2021/11/18/the-all-new-all-electric-toyota-bz4x/
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| Phones › iPhone Users To Be Able To Repair Their Devices Themselves by postbox(op): 6:04pm On Nov 18, 2021 |
An announcement has been made on Wednesday by Apple that its customers will be allowed to repair their devices themselves where genuine Apple parts, tools, and manuals needed for repair will be supplied by the company to individual consumers. It will be noted that Apple’s ‘self service repair’ will first be available in the US, beginning from January, and then expand to other countries over 2022. Consumers comfortable with repairing their own devices will soon get access to tools, parts, and manuals for iPhone 12 and iPhone 13 series’ devices, and the list will eventually include Mac computers (the ones with the M1 chips). Apple service centres are also known to not entertain service/repair requests if the devices have been opened or accessed by others. Also, if the device has been opened up by any non-authorised personnel or service centre, it loses the warranty coverage. The idea behind such a strict set of rules for repairs is understandable to an extent as repair support might be offered by those who do not have access to original Apple components, and swapping them with replacement parts can cause irreparable damages. Representing the Company, Apple’s Chief Operating Officer Jeff Williams said the phase will focus on the most commonly serviced modules “The initial phase of the program will focus on the most commonly serviced modules, such as the iPhone display, battery, and camera. The ability for additional repairs will be available later next year,” “Creating greater access to Apple genuine parts gives our customers even more choice if a repair is needed,” He also stated that Apple will set up a new store that will offer more than 200 individual parts and tools for repairs. Most of these, for now, will be the ones needed for common repairs on the iPhone 12 and iPhone 13 devices. Customers can place an order for parts and tools on this store. Those customers who return the used parts for recycling will get credits towards their purchase. As encouraging as all of this sounds, Apple added in the announcement that the self service repair feature is meant for individual technicians who have the knowledge and experience of repairing electronic devices. For others, going to an authorised repair provider is still the “safest and most reliable way to get a repair”. Apple already has more than 5,000 authorised service providers and 2,800 independent repair providers. The self-repair option comes as a great advantage to customers since the company-authorised repairs are often quite expensive and sometimes unnecessary unless the damage is significant. SOURCE:https://brandspurng.com/2021/11/18/iphone-users-set-to-repair-their-devices-themselves/
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| Business › Tony Elumelu Foundation Funds 5000 African SMEs by postbox(op): 12:43pm On Nov 18, 2021 |
The Tony Elumelu Foundation (TEF), the leading philanthropy empowering African entrepreneurs from all 54 African countries, has selected 4,949 entrepreneurs from across Africa for its 2021 Entrepreneurship Programme. The 2021 beneficiaries were selected from a pool of over 400,000 applications, based on their innovation, performance, and growth potential to create jobs and eradicate poverty on the continent. Consisting of both new start-ups and existing small businesses, the 2021 Tony Elumelu Entrepreneurs have undergone world-class business training, mentorship and coaching and will have a life-time access to the Tony Elumelu Foundation alumni network. Founder of the Tony Elumelu Foundation, Mr. Tony O. Elumelu shared, “To you young African entrepreneurs – work hard, dream dreams, and be very disciplined. You must continue to think of impact. The entrepreneurship journey is not linear – there are ups and downs, but by staying focused and resilient, ultimately success will come your way. The future of our continent is in your hands. What you do as entrepreneurs will go a long way in lifting Africa out of poverty. I am happy that our female entrepreneurs are doing very well, with 68% representation this year.” He added: “To our African leaders – these young, intelligent, energetic hardworking, resilient Africans are ready to go. We need to keep creating the right enabling environment to enable our young ones to succeed. We must realise that their success is success for all of us on the continent. We must prioritise them because nations and continents that prioritise their people, succeed. To my fellow business leaders, let us realise that in the 21st century and beyond, it is about impact, legacy and about how we work together to power people out of poverty. It is such a great feeling to see 5000 young Africans also commence their own entrepreneurial journeys today.” Speaking at the event, Director-General, International Cooperation and Development, European Commission, Mr. Koen Doens stated: “I remember very well, a few years ago in Brussels when I first met Tony Elumelu at one of the events his Foundation was organising. Both of us were struck by how there was such a clear match between his vision on how he could support African entrepreneurship and the European Union’s own vision on how we wanted to support African entrepreneurship. Ever since, our partnership has embodied this same spirit that ultimately African growth cannot neglect the huge potential, creativity, and entrepreneurial spirit that harbours so many Africans, especially young people and women. I am extremely glad our partnership is moving into this active stage, and I am very glad that over 2400 women will benefit from the Tony Elumelu Foundation’s training programme, and will get seed capital to support their ideas. I am extremely happy that at the European Union, we are able to be part of this great endeavour and to support it.” Also speaking at the event, Assistant Administrator, UNDP/Director, UNDP Regional Bureau for Africa, Ms. Ahunna Eziakonwa stated: “Our partnership with the Tony Elumelu Foundation on youth entrepreneurship is informed by our belief that Africa will only succeed when young Africans are given the opportunity to excel. This is what has inspired us to invest more than $20 million in emerging African entrepreneurs since we entered into our partnership with the Tony Elumelu Foundation. Our joint ambition is to empower 100,000 young African entrepreneurs over the next ten years across Africa, recognising that entrepreneurship is the only way dreams can be realised.” Speaking, Secretary General, OACPS, H.E. Georges Rebelo Pinto Chikoti stated: “On behalf of the Organisation of African, Caribbean and Pacific States (OACPS), I would like to heartily commend the Tony Elumelu Foundation for this extraordinary achievement. We are proud to have partnered with the Tony Elumelu Foundation and our longstanding partner, the European Union to unlock the potential of 2420 young African women through this TEF Entrepreneurship Programme, providing mentorship and funding, to grow and sustain these small businesses.” Speaking on the panel with Mr. Elumelu, 2015 Tony Elumelu Entrepreneur, Hauwa Liman, Founder of Afrik Abaya, shared: “I am always proud to say that I am from the inaugural cohort of the Tony Elumelu Foundation Entrepreneurship Programme. My business is located in Kaduna, Nigeria. I benefitted from this Programme in 2015, and it opened up lots of doors and opportunities. It is not just about the seed capital, but what really fascinates me about the Programme is the knowledge. I call it a mini-MBA programme, because from the ideation stage it teaches you how to really articulate your business, and it gave me my first business plan. The network, visibility and opportunities are endless. My entrepreneurship experience cannot be complete without the Tony Elumelu Foundation. I will start exporting soon courtesy of the Foundation. We now employ ten permanent staff and an additional eight staff on a commission basis.” Tony Elumelu Foundation CEO, Ifeyinwa Ugochukwu, concluded the event stating: “Today, we have trained ten times more young African entrepreneurs than we have trained from 2015 to 2019 combined. Today in 2021, we will be paying out a record US$24,750,000 directly to the hands of African entrepreneurs from all 54 African countries. This is impact.” Since its inception, the Tony Elumelu Foundation has now funded a total of 15,847 entrepreneurs who have created more than 400,000 direct and indirect jobs and counting. Through TEFConnect (https:///3qLruxA), the Foundation’s proprietary digital platform, it has provided capacity-building support, advisory and market linkages, to over 1.5 million Africans. SOURCE:https://brandspurng.com/2021/11/18/tony-elumelu-foundation-funds-5000-african-smes/
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| Business › Airtel Africa Attracts Three Investors After CBN’s Approval by postbox(op): 12:10pm On Nov 18, 2021 |
Telecommunication Giant, Airtel Africa PLC, stated on Tuesday that three investors, Qatar Investment Authority (QIA), TPG, a U.S. private equity firm, and Mastercard have increased their investments in Airtel Money to $500 million. This disclosure was made in a notice signed by the group company secretary, Simon O’Hara, posted by the Nigerian Exchange Limited and seen by Brandspur Airtel Mobile Commerce Nigeria Ltd, a subsidiary of Airtel Africa, had on Monday announced it had received approval-in-principle from the Central Bank of Nigeria to operate as a super agent in Nigeria, barely one week after it got a similar nod from the industry watchdog to start a payments service bank. The fund raising follows previously announced investment transactions by the three firms between March 18 and July 30, 2021. Mastercard, TPG and QIA have invested previously in the secondary purchase of shares in Airtel Mobile Commerce BV ( AMC BV), a subsidiary of Airtel Africa. Earlier this year, Airtel Africa put the valuation of its mobile money business on the continent at $2.65 billion. In the latest round, Mastercard increased its shares in the company by investing $25 million, while TPG and QIA invested $50 million each, summing up to $125 dollars. “With these second closings, Airtel Africa will have received a total of $500 million cumulative proceeds from the minority stake sales in Airtel Money from the three investors,” it said. “As previously reported, the proceeds from these secondary stake sale transactions will be used to reduce group debt and invest in network and sales infrastructure in the respective operating countries.” SOURCE:https://brandspurng.com/2021/11/17/airtel-africa-attracts-three-investors-after-cbns-approval-to-operate-as-a-super-agent/
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| Politics › Electricity Consumers Not Required To Pay For Meters Under NMMP - NERC by postbox(op): 12:03pm On Nov 18, 2021 |
The Nigerian Electricity Regulatory Commission says under the National Mass Metering Programme electricity consumers are not required to pay directly for the meters issued to them.SOURCE:https://brandspurng.com/2021/11/17/electricity-consumers-not-required-to-pay-for-meters-under-nmmp-nerc/ 3 Likes 1 Share
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| Travel › Ibom Air Signs Agreement With Airbus For 10 New Aircraft by postbox(op): 9:01am On Nov 17, 2021 |
Ibom Air, the indigenous Airline of the Akwa Ibom State Government of Nigeria, has placed an order for ten (10) A220 aircraft with Airbus, at the ongoing Dubai Air show, taking place at the purpose built DWC event arena in Dubai. The agreement, which was signed today by the Chief Executive Officer of Ibom Air, Mr Mfon Udom and Chief Commercial Officer of Airbus, Mr Christian Scherer, was done in the presence of His Excellency, the Governor of Akwa Ibom State Mr Udom Gabriel Emmanuel, the Attorney General and Commissioner for Justice of Akwa Ibom State, Mr Uko Udom, SAN, and the Chairman of Ibom Air, Mr Imoabasi Jacob who led the Ibom Air team, which also included the airline’s Chief Operating Officer, Mr George Uriesi, the Group Manager Marketing and communication, Mrs Aniekan Essienette and the Group Manager Corporate Services, Mrs Imelda Aba. Working in collaboration with the Airbus team, Ibom Air took an innovative approach to making the choice of the A220. The airline started by wet-leasing two (2) A220s for a year, to test the suitability of the aircraft for their needs. Within 6 months of this process, the airline was able to validate the A220 as the right choice for its domestic and regional aspirations. The order of the ten (10) Airbus A220 is in line with the airline’s aggressive growth plan, which will see it expanding its footprint into new domestic routes as well as regional routes covering West and Central Africa in the immediate future. The first phase of this expansion is set to cover cities like Malabo, Douala, Libreville, Kinshasa, Accra, Abidjan, Freetown, Banjul and Dakar. Ultimately the airline intends to operate throughout the continent of Africa. The all-new A220 is purpose built for efficiency, targeting the 100-150 seat market. It burns 20% lower fuel per seat compared to previous generation aircraft and flies to a range of up to 3,400 nm (6,297 km), offering performance similar to larger, single-aisle aircraft. The A220s combination of a superior cabin product and low operating costs are a perfect fit for the airline’s network growth strategy and will help Ibom Air offer its customers an unrivaled value proposition. His Excellency, the Governor of Akwa Ibom State in his remarks stated “earlier in the year, we gathered to welcome the first Airbus into our fleet, and I must say that we are proud to be the first airline to order the all-new Airbus A220 in Nigeria. The A220 will allow us to increase the number of passengers into Akwa Ibom, thus bringing more first-time visitors and business travelers to the State. These efforts reflect our commitment to enabling local commerce and industry, in line with the State’s economic growth strategy. With this latest acquisition, Ibom Air is better positioned to contribute to driving long term economic growth for Akwa Ibom State. Ibom Air’s giant leap as evidenced by this bold step, is a validation of the aviation development pillar of our completion agenda which is on course. I have said and will reiterate that, till the very last day, I will keep working for and in the interest of Akwa Ibom people. Also speaking at the announcement, the CEO of Ibom Air threw more light on the choice of the A220: “It gives me great pleasure to be here at the announcement of Ibom Air’s order for 10 Airbus A220s. We are pleased with the steep growth we have achieved in the two (2) years and five (5) months since we commenced operations, a growth mainly driven by the massive embrace of our product and brand by the Nigerian domestic flying public. As we contemplated the next phase of our expansion strategy, we gave consideration and opted to procure two (2) A220s on a one-year wet lease, in order to try out the aircraft to ensure it was fit for the purposes of our business. “I am pleased to say here that the approach has been a huge success for us. We found out that not only can we fill up the aircraft, but it has also become a favorite in the Nigerian domestic market. Our passengers love it. And so, here we are today, ordering 10 A220s, having tested and validated it as the one stop solution for our domestic and regional aspirations.” “On his part, the Chief Commercial Officer of Airbus, Mr Christian Scherer said “we are thrilled to add Ibom Air as a new Airbus customer. The A220 is ideally suited to Nigeria’s aviation needs, providing operational flexibility, growing the business, and responding to demand for increased passenger services. Through this investment, Ibom Air is underscoring its ambition for regional and in due course, international connectivity, efficiency and versatility.” With the purchase agreement signed, deliveries of the aircraft to Ibom Air will commence in the first quarter of 2023. SOURCE:https://brandspurng.com/2021/11/17/ibom-air-signs-agreement-with-airbus/
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| Technology Market › Top 10 Emerging Technologies To Watch In 2021 by postbox(op): 8:47am On Nov 17, 2021 |
The World Economic Forum announced today its annual list of breakthrough technologies with the most significant potential to impact the world positively. From climate change to public health, technology will play a critical role in finding solutions to many of the world’s challenges. This year’s emerging technologies demonstrate the rapid pace of human innovation and offer a glimpse into what a more sustainable, healthier future could look like. “Our goal with the list is always to identify those with the greatest potential for impact, but we also want to provide a diverse and inspirational list,” said Jeremy Jurgen, Managing Director at the World Economic Forum. “Every single technology has the potential to solve major global challenges.” The technologies on the 10th anniversary list, curated by experts convened by the World Economic Forum and Scientific American, are selected against several criteria. In addition to promising major benefits to societies and economies, they must also be disruptive, attractive to investors and researchers, and expected to have achieved considerable scale within five years. Over the past nine years, experts have made predictions about the emerging technologies expected to have major social, economic and environmental impacts worldwide. Many of the predictions were proven correct, while others did not come to fruition. Only time will tell if this year’s top 10 emerging technologies will transform lives or be displaced as more urgent needs arise. “We’re delighted to present this collection of ambitious, potentially transformative technologies. These inspiring and actionable ideas confront some of the most urgent challenges of our time, including climate, health, agriculture and communication.” said Laura Helmuth, Editor-in-Chief at Scientific American. The top 10 technologies to make the list are: Decarbonization technologies As nations race to deliver on their commitments to tackle climate change, a multitude of technologies that offer lower-carbon footprint solutions, or suck carbon dioxide out of the air, will need to scale up fast. These technologies will include net-zero emissions air-conditioning, low-carbon cement, renewable energy sources and meat-free protein, among others. Self-fertilizing crops Providing food for the world’s growing population relies heavily on such nitrogen-containing industrial fertilizers as ammonia – the production of which accounts for 1% to 2% of global carbon dioxide emissions. New engineering approaches enable crop plants to produce their own fertilizer by mimicking a symbiotic relationship between plant roots and soil bacteria that occurs in nature. Disease-diagnosing breath sensors Human breath contains more than 800 compounds. New breath-sensing technologies analyse these compounds and detect changes in concentrations of compounds associated with diseases. Early-stage testing has demonstrated the potential of breath sensing technologies to diagnose COVID-19, tuberculosis and cancer. On-demand drug manufacturing Traditionally, drugs are made in large batches through a multi-step process with different parts dispersed among many locations worldwide. Recent advances in microfluidics and on-demand drug manufacturing open the possibility of common drugs like antidepressants and antihistamines being made to the exact dose and formulation tailored for an individual, on-site at their local pharmacy. Energy from wireless signals Devices that do not require much power to operate, such as pacemakers and smartwatches, could soon be wirelessly charged through Wi-Fi and 5G signals, leading to a future where low-power wireless devices never need plugging in. Engineering better ageing Research that unlocks the understanding of ageing mechanisms enables the development of targeted therapies that could one day stave off dementia and other age-related ailments, leading to healthier elderly years. Green ammonia Green ammonia, which is made from cleaner sources of hydrogen, could provide more environmentally friendly fertilizers for crops. Wireless biomarker devices Monitoring chronic diseases such as diabetes and cancer requires frequent blood testing to identify and track certain biological markers. Innovations in wireless, portable and wearable sensors integrated in clothing or contact lenses could soon monitor this vital information continuously. Houses printed from locally sourced materials Building houses with 3D printers could help tackle the challenge of inadequate housing for 1.6 billion people worldwide. The concept of 3D printing houses has been around for a while, but new advances enable houses to be built from locally sourced materials like clay, saving time, money and energy on transporting building materials to the site. Space internet of things At least 10 billion active devices make up the internet of things (IoT), a number that is expected to more than double in the next 10 years. Maximizing IoT benefits in communication and automation requires devices to be spread worldwide, but cellular networks span less than half the globe, leaving enormous gaps in connectivity. A space-based IoT system could patch those gaps, using a network of low-cost, low-weight nanosatellites that orbit a few hundred kilometres from Earth. SOURCE:https://brandspurng.com/2021/11/16/top-10-emerging-technologies-to-watch-in-2021/
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| Investment › Apple Hints At Potential Cryptocurrency Payment Integration by postbox(op): 11:07am On Nov 16, 2021 |
Apple CEO Tim Cook told the New York Times’ DealBook the company is considering cryptocurrency features but didn’t go into any specifics. While Cook noted that Apple has no “immediate plan” to enable crypto payments in Apple Pay, his comments didn’t preclude the integration entirely. Key context: This isn’t the first time Apple has weighed crypto functionality. In 2019, Apple Pay vice president Jennifer Bailey expressed interest in adding cryptocurrency into the mobile wallet, saying that cryptos had “long-term potential.” Given both the surge in crypto payment products this year—with players like PayPal and Mastercard joining the fray—and Apple’s standing as a tech innovator, some financial experts view an Apple Pay crypto integration as an obvious business move. Back in February, RBC Capital Markets analysts said Apple Pay would benefit from integrating cryptocurrency offerings into its platform, noting that it would let Apple capture significant crypto market share. And a job posting from May suggests that Apple has been weighing crypto integrations for some time now. The opportunity: While Apple’s crypto plans remain uncertain, an Apple Pay or Apple Card crypto integration could help the tech giant increase monetization and engagement. An Apple Pay crypto integration could help close the gap between iPhone owners and Apple Pay users. Apple Pay has expanded to include support for things like driver’s licenses and student IDs—both attempts to increase user adoption. Only about 38% of US iPhone owners use Apple Pay, according to estimates using Insider Intelligence iOS and Apple Pay forecasts. And with consumer interest in crypto rising, implementing the tech in its wallet could give Apple a concomitant increase in adoption. A crypto-linked Apple Card product could boost Apple’s card business and payments volume. A bevy of crypto-linked card products from players like Visa and Mastercard have launched in the last few months, suggesting demand and growth benefits from these types of solutions. Integrating cryptos into the Apple Card might induce higher spending and may even help grow its user base: There are an estimated 6.4 million Apple Card users, per Cornerstone Advisors. A crypto feature could also bolster Apple’s overall payments business. Why this could succeed: Although its business has a very different focus, PayPal’s experience with cryptos suggests Apple Pay could find success with digital currencies. Referencing PayPal’s crypto service that launched in November 2020, CEO Dan Schulman said on the company’s Q1 earnings call that nearly half of all crypto users opened the PayPal app every day. Apple Pay could unlock similar engagement if it decides to launch a crypto integration. SOURCE:https://brandspurng.com/2021/11/16/apple-hints-at-potential-cryptocurrency-payment-integration/
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| Business › O’dua Group Welcomes New Investment Initiatives by postbox(op): 12:58pm On Nov 15, 2021 |
O’dua Investment Company Limited is set to welcome new investment initiatives which will be targeted on various economy like Health, Transportation, logistics, ICT, Energy and financial services Speaking at the 45th anniversary in commemoration of the lecture of the conglomerate, on the theme: “From Regional Player to Global Power House” Speaking at the anniversary, Group Chairman, Dr. Segun Aina stated that the company owned by the six states in the South West is aimed at emerging as a world class conglomerate in no distant time “Oodua Investment Company Ltd is being transformed into a lean, non-operating investment holding company to enhance transparency, focus on investment management and sustainability, traverse a path of maximum impact, and leverage on the models we have seen succeed in similar institutions across the globe. ”We have redefined our vision to one that captures our ambition appropriately, which is, “to be a world-class conglomerate, and a mission “to deliver sustainable returns for all stakeholders enhancing the legacy for future generations“, he said. Aina said the next four years would be the foundation years for the conglomerate to transform to an impact-driven organisation. “Our targets for O’dua investment over the next four years are audacious in terms of social impact, growth in revenue and returns on assets with various assets optimisation programmes planned. ”Despite the obvious challenges in the macro-economy, we are optimistic that with the support of everyone and stakeholders, we will over-deliver,” he said. Aina mentioned that there area plans to diversity its portfolio of assets beyond real estate and other subsidiaries and associates. He said the new investment initiatives of the company would now target selected sectors of the economy, including healthcare, transportation and logistics, ICT, energy and financial services. “We have the strategic intent to dilute ownership in some of the investments where we currently have 100 per cent ownership, while limiting our shareholding in new ventures to minority holdings as may be necessary. ”We are also seeking partners that will provide capital and technical expertise to run these businesses,” he said. According to him, the company plans to transform Wemabod Estate, its real estate business, into a leading real estate development company. He said the company had outlined plans to also transform its hotels into world class destinations, driven by partnerships and global brands. The board chairman said the company had established new outfits, South West Agriculture Company Limited (SWAgco), Bita Exploration and Production Limited, South West Innovation and Technology Limited (SWIT), among others, to create jobs and grow the economy of the South-West region. “SwagCo, our agriculture investment vehicle is primed to create a pool of hundreds of thousands of farmers and agroprenuers across the states. ”SWIT will drive our strategic partnerships, investment and activities in the technology and digital space through investment in Techhubs, FinTechs and other ICT business, thus creating huge jobs, a new crop of techpreneurs and wealth as we also set out to support the development of a digital economy in the South West,” he said. He commended the owner states – Lagos, Oyo, Ogun, Ekiti, Ondo, Osun – for their consistent support for the company, urging them to continue to support the company to achieve its new vision. Aina said that the fact that the company was still existing 45 years after its establishment was a cause for celebration, adding that the conglomerate had not fared badly. In his speech, Mr Adewale Raji, Group Managing Director of the company, said the conglomerate was repositioning itself to fulfill its role as both an investment vehicle and a growth engine of the South-West. He said the company was exploring many possibilities, including starting new businesses to strengthen its operations and add value to the economy. Raji said the rich heritage that that O’dua Investment had preserved over the years was worth celebrating. “One of the examples is our venue for today’s event, the Lagos Airport Hotel, which will be 80 years old next year, and is one of the oldest surviving hotels in Nigeria. ”This for us, like many of the other assets in our custody, is not just an investment, but represents a part of our collective history,” he said. A management expert and a former Country Manager of Accenture, Mr Dotun Sulaiman, who gave the anniversary lecture , said O’dua investment was a treasure inherited from past leaders of the South-West region and that there was the need to reposition it and take it to greater heights . He urged the company to focus on its areas of strength and foray into emerging but lucrative sectors of the economy. The expert said the company had missed many investment opportunities in viable sectors like telecommunication, energy and Fintech in the past but that it was not too late to consider those areas. “The Western Region recorded many firsts many years ago, but where are we today? Though we have yielded grounds, hope is not lost. If we begin to do the right thing with our inherited treasure with O’dua Investment Company, we will definitely achieve a lot,” he said. Gov. Babajide Sanwo-Olu, said there was the need for the company to explore new areas of opportunities in the economy. Represented by his deputy, Dr Obafemi Hazmat, Sanwo-Olu urged the company to consider investments in agricultural storage and processing to tap the opportunities in those areas. “In our country today, 45 per cent of tomatoes produced get wasted. Not that we do not produce enough, but not everything gets to the consumers table. ”So, why don’t we go into storage and processing of these things? We have cocoa plantations, why don’t we invest in those areas to align with the intent of our founding fathers,” he said. Sanwo-Olu said the world was changing and new investment opportunities were emerging and urged the company to move with the times. He said the state was happy to be part of the O’dua investment family once again. SOURCE:https://brandspurng.com/2021/11/15/odua-group-welcomes-new-investment-initiatives/ |
| Business › Former FCMB Director, Olu Akanmu Becomes OPay Co-CEO by postbox(op): 9:57am On Nov 15, 2021 |
Chinese-owned African fintech startup, OPay, has announced the appointment of former FCMB Executive Director for Retail Banking, Olu Akanmu as the new president/Co-CEO for its Nigerian division. According to the company, Olu Akanmu will work alongside the current leadership team to guide Opay Nigeria towards attaining all of the company’s goals and objectives. Olu Akanmu, who has a previous background in the banking and telecommunications sectors, brings more than 20 years of corporate leadership to this role. Before his appointment Olu Akanmu had held the position of Executive Director for Retail Banking at FCMB for more than eight years. Prior to this role, he had also held the position of senior vice president/Divisional head of retail banking at the same FCMB. His background in the Nigerian banking sector may provide him with an advantage in leading the fintech firm, but he also has extensive experience in the Nigerian telecommunication services industry. According to his impressive employment record, he had been the chief marketing officer for Airtel Nigeria, a position he held briefly between 2012 and 2013. His immersion into this role was just shortly after he moved on from a five-year experience as the managing director for retail and consumer banking at the now-defunct Bank PHB. He had also, for more than five years, held the position of General Manager for consumer marketing at MTN, shortly after leaving Insights Communication as their client service director. Olu Akanmu has a rich educational background that spans many years within and beyond the shores of the country. He holds a Bachelor’s Degree in Pharmacy from Obafemi Awolowo University, Ile-Ife. He also bagged an MBA from Lagos State University. He had also attended the University of Witwatersrand and Edinburgh Business School, where he achieved a distinction in the Management Advancement Program and a post-graduate certificate in Business Research, respectively. What You Should Know About OPay OPay is one of Africa’s fintech unicorns, joining billion dollar companies like Flutterwave, Jumia, Interswitch and Fawry. OPay raised $400 million in a fresh funding round. SoftBank Vision Fund 2 led the fundraising round, which valued the company at $2 billion. OPay used to provide ride-hailing and logistics services across Nigeria before being forced to close due to a government ban. The company’s mobile money service, which has a network of agents and serves Nigeria’s unbanked and underbanked, is currently the most popular. OPay’s monthly transactions increased 4.5 times to over $2 billion in December of last year, according to parent firm Opera. OPay also claims to handle around 80% of bank transfers among Nigerian mobile money providers and 20% of non-merchant point-of-sale transactions. SOURCE:https://brandspurng.com/2021/11/14/former-fcmb-director-olu-akanmu-becomes-opay-ceo/
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| Business › Ahmed Hassan Appointed As Jaiz Bank New CFO by postbox(op): 9:37am On Nov 15, 2021 |
Jaiz Bank Plc has announced the appointment of Mr. Ahmed Alhaji Hassan, as an Executive Director/Chief Financial Officer of the Bank. The appointment has been duly approved by the Central Bank of Nigeria (CBN). This is according to a statement signed by the Company’s Secretary, Mohammed Shehu, and filed with the Nigerian Exchange Limited (NGX). Excerpts of the recent press release reads: ‘’Jaiz Bank Plc (the Bank) hereby notifies the Nigerian Exchange Limited (NGX) and the general public of the appointment of Mr Ahmed Alhaji Hassan as an Executive Director/Chief Financial Officer of the Bank. The appointment has been duly approved by the Central Bank of Nigeria.’’ Mr Ahmed Alhaji Hassan is an expert with over twenty-six (26) years of cognate experience. He started his career as a Lecturer of Accounting & Finance at Bayero University, Kano before joining the Banking/Finance Industry. Prior to joining Jaiz Bank in 2013, Ahmed gained valuable work experiences in reputable establishments like; the Securities & Exchange Commission (SEC), former New Africa Merchant Bank Ltd, NAL Merchant Bank (now Sterling Bank), and FCMB. He also had a brief stint with Dangote Group as the Financial Controller of Kano Flour Mills. Ahmed A. Hassan is an alumnus of Bayero University, Kano and the University of Lagos. He is a Fellow of the Institute of Chartered Accountants of Nigeria, Fellow of the Chartered Institute of Taxation of Nigeria and an Associate of the Pension Institute of Nigeria. He has attended various local & foreign courses and workshops. It is important to recall that Jaiz Bank is the premier non-interest bank in Nigeria. It commenced operations on the 6th of July, 2012. The Bank started with a Regional License obtained from the Central Bank of Nigeria to operate in the Northern part of the country and thereafter metamorphosed into a National Bank on the 12th of May 2016 with key presence in virtually all geopolitical zones of the country. Jaiz Bank is publicly quoted on the Nigerian Exchange Limited (NGX) with a balance sheet size of N255.69 billion (as of September 2021) from N12 billion recorded in 2012 when it flagged off. The bank is currently trading 64 kobo per share on the local bourse SOURCE:https://brandspurng.com/2021/11/14/ahmed-hassan-appointed-as-jaiz-bank-new-cfo/
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| Politics › FG Proposed Meter Price Takes Effect From Tomorrow by postbox(op): 7:25pm On Nov 14, 2021 |
The new prices of Prepaid Meter, according to the circular, will take effect from tomorrow, November 15.https://brandspurng.com/2021/11/14/fg-proposed-meter-price-takes-effect-from-tomorrow/ 1 Like
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| Nairaland General › GAIA Africa Launches GAIA House by postbox(op): 11:32am On Nov 13, 2021 |
GAIA AFRICA, Nigeria’s premier private members club for professional and businesswomen leaders, launched her Club House in Lagos on today. GAIA AFRICA is established to provide a nurturing and authentic environment for women leaders so that they can support and learn from each other. GAIA AFRICA is more than a business club for women – It is an organising principle for female empowerment and leadership which is the bedrock for sustainability of any social economy. “It is incredible to see one’s vision come to life. In spite of the challenges, I have seen our beautiful Club House completed, members continuing to build trust, form new friendships, investing and doing business together. And best of all it is great to see membership on the increase” Olatowun Candide-Johnson – Founder & CEO GAIA AFRICA. It has always been easy for men to meet in comfortable and confidential “Clubs” where million-dollar deals are negotiated, but such spaces are either uncomfortable or completely out of bounds for women. With a dearth of innovative, private members clubs for professional and businesswomen to connect, GAIA AFRICA was founded in 2018 and represents the power of making useful connections, staying persistent and executing ideas. This proudly Pan African brand is built around the common interests of her members to create the opportunity for them too, to bond in a safe and peaceful space to forge business partnerships, invest in lucrative deals, sponsor and support one another. This is achieved through peer-to-peer mentoring, our Executive Academy which brings new learning and/or refreshers for members, as well as our smaller interest groups (“mini clubs”) which provide another avenue for members with similar interest to bond deeper and build trust. Most importantly, our collaborations are built on the GAIA Honour Code of Mutual Trust, Integrity, & Authenticity. The Club House referred to as “GAIA House” is a three level Luxury Club. House located in the heart of Victoria Island Lagos and is poised to serve the needs of members for business and entertainment with facilities that include Gaby Lagos (a Mediterranean and evolved fusion restaurant), The Haven (Exquisite Members lounge), The Hub (Multipurpose function room), The Athena Meeting Rooms, Fitness Studio, Steam Room and Amalfi Massage room. GAIA House is a confluence of business and lifestyle in Nigeria. It is available for select private events including private dinners, Board lunches, private screenings, exhibitions, and other intimate events – by prior reservation. SOURCE:https://brandspurng.com/2021/11/13/gaia-africa-launches-gaia-house/
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| Business › Rivian Is Now Biggest US Company By Market Value With No Revenue by postbox(op): 10:11am On Nov 13, 2021 |
Add another milestone to Rivian Automotive Inc.’s blistering and surprising run as a new stock: It’s now the biggest U.S. company by market value with no revenue. The electric-truck maker, backed by Amazon.com Inc. and Ford Motor Co., has unseated Lucid Group Inc., an electric vehicle peer with no sales to its name, at the top of the list. Rivian’s shares have soared 67% from their initial public offering price of $78 on Wednesday. It’s just about a 25% gain away from overtaking Volkswagen AG, one of the world’s largest car producers, in market value. Meanwhile, Lucid has seen its stock price advance 339% this year. It went public via a merger with a blank-check company in July. “(It’s) seriously mind boggling when it hasn’t even earned any discernible revenue yet,” said Michael Hewson, chief market analyst at CMC Markets, discussing Rivian’s valuation. Electric vehicles have been attracting investor interest since mid-2020, when governments, policymakers and corporations announced plans to invest in the industry amid a growing urgency to tackle climate change. Recent strong results from industry leader Tesla Inc. and a big push from car-rental company Hertz into EVs has supercharged all stocks in the space. Rivian’s rally for the third straight day vaulted its market value above Mercedes-Benz maker Daimler AG on Friday, after racing past Ford and General Motors Co.’s market valuations in the previous two days. SOURCE:https://brandspurng.com/2021/11/13/rivian-is-now-biggest-us-company-by-market-value-with-no-revenue/
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| Food › 10 Cocktails For Your Next Themed Party by postbox(op): 9:58am On Nov 13, 2021 |
There is no wrong time of year for a party. In the summer, you could have a pool party or a Disney birthday party (with sneaky cocktails from the adults, of course!); in the fall, you could have a Halloween or pre Thanksgiving themed party, In the wintertime, you could have a Harry Potter or Christmas party, and in the spring you could have a Spring Fling! No matter what kind of party you’re having, no matter what the theme, there is a cocktail for every occasion. We have put together a list of the ten best themed cocktails for your next event- that is one step of the party planning process that you don’t have to worry about! Butterbeer Harry Potter fans are passionate about everything to do with the wonderful world of Potter. No Harry Potter-themed party would be complete without the most well-known drink from the books and movies, a warm and satisfying mug of butterbeer! Now we know that this version might be a little boozier than what they serve in The Three Broomsticks, but you can make it a mocktail if you prefer. This is definitely a drink for the winter as it is served warm. Recipe (serves 6) 6-8 tablespoons butterscotch sauce (depending on how sweet you like it) 3 cups apple cider 1 cup bourbon whiskey (optional) 2 cups ginger beer Whipped cream for garnish Method Heat up the cider, bourbon, and butterscotch on the stove until all the syrup has dissolved into the mixture and it’s steaming. Remove from the stove and stir in the ginger beer. Ladle into glass mugs and serve with whipped cream. Felix Felicis Another Harry Potter-themed cocktail that will be sure to increase your luck is Felix Felicis. Potion making is an exact art, so be sure to take special care when measuring your ingredients. Remember, a little luck goes a long way! Recipe (serves 1) 1/4 oz simple syrup 1/4 oz lemon juice 1.5 oz ginger beer Champagne or other sparkling wine Method Muddle the syrup and lemon juice in the bottom of a champagne glass. Pour the ginger beer, then champagne over syrup mixture and garnish with lemon rind. Tardis-tini This one is for the Dr Who fans out there. Though the show and the Dr have gone through many iterations, one thing has always been there: the Tardis! Did you know that Tardis actually stands for Time And Relative Dimensions In Space? Wow your guests with a bright blue martini-style drink! Recipe (serves 1) 2 oz Hpnotiq 1 oz crème de violette ¾ vodka ½ oz blue curacao Method Pour all ingredients into a cocktail shaker over ice, shake and strain into a martini glass. Garnish with a piece of pineapple and edible gold stars (available at baking stores) Shamrock Sour So it is finally St Patrick’s day! Instead of going on a bar crawl like usual, why not host a party at your home? And instead of green beer, why not make a special Shamrock themed cocktail for your guests? Recipe 2 tablespoons lime juice ½ tablespoon lemon juice ¼ cup simple syrup 2 ounces Irish whiskey 1 drop of green food coloring lime wedges for garnish Method Combine all ingredients in a cocktail shaker over ice. Shake and strain into a tumbler, garnish with lime. Howling Wookie Star Wars is such a classic theme, and it makes throwing a party so simple. There are so many costume ideas that your guests will have no excuse not to come dressed up, and there’s no shortage of inspiration for food and drinks either. Since this drink contains eggnog liqueur, it’s probably one best saved for the colder months as it might be a little bit heavy for hot weather. Recipe 2 oz coffee rum 1 oz eggnog liqueur 3 oz almond milk Cinnamon to garnish Method Mix all ingredients and serve over ice. Don’t forget to garnish with cinnamon. Cherry Vodka Shot Valentine’s day is a great time to have a little get-together. Instead of making it about couples, why not throw a party for all your friends and family and celebrate all the different kinds of love we have in our lives? Love is something we should be grateful for every day of the year, not only on Valentine’s day. But it doesn’t hurt to have a little reminder once a year. Recipe (serves 1) 1 part cherry vodka 1 part amaretto ½ part grenadine 1 maraschino cherry Method Put maraschino cherry into a shot glass. Pour all ingredients over the cherry and serve chilled. Strawberry Sparkling Rose Slush A freezing cold slushie just SCREAMS summertime; it’s perfect for a pool party or even Valentine’s Day. But how to make it just slightly more sophisticated? Add champagne, of course! Be careful because these pack quite the punch, but they’ll have all your guests begging for the recipe. Recipe (serves 4 to 6) 1/2 cup sugar 4 cups strawberries, frozen, plus additional for garnish 4 ounces strawberry vodka or regular vodka 1 bottle sparkling rosé 2 or 3 sprigs of tarragon, for garnish Method Add strawberries, vodka, and syrup to a blender and puree till smooth. Divide mixture between 4 to 6 glasses, top up with rosé and garnish with more strawberries and/ or tarragon. Spiked Fruity Pebbles Milkshake Finally, throwing that pool party, you’ve been dreaming of all winter? Go on, have a little fun and surprise your guests with milkshakes instead of traditional cocktails! The Spiked Fruity Pebbles Milkshake will work well with a variety of cereals. So pick whichever one you like best and give it a try. Recipe (serves 2 to 4) 3 scoops of Fruity Pebbles ice cream (or store-bought vanilla with fruity pebbles or cereal of choice mixed in) ¼ cup cold milk 1-ounce cake-flavored vodka or regular vodka Whipped cream (optional) More Fruity pebbles for garnish Method Combine ice cream, vodka, and milk in a blender and puree. Pour into a glass, and garnish with whipped cream and more Fruity Pebbles or cereal of choice. Holly Jolly Christmas Citrus Cocktail This one’s for you if you enjoy Christmas in a warmer climate. Bottoms up! Recipe (serves 1) 2 oz vodka ½ oz St Germain ⅓ cup clementine or blood orange juice Ginger beer Pomegranate rubies to garnish Thyme or mint to garnish Method Fill cocktail glass with ice, pour all ingredients over. Garnish with pomegranate and thyme of mint and enjoy. Grinch Cocktail While the Grinch might not like Christmas, your party guests are going to LOVE this drink! Recipe 1/12 oz midori sours 1 oz clean rum or triple sec 5 oz sprite 1 maraschino cherry Method Fill the tumbler with ice and stir all ingredients together. Garnish with cherry and sip. Wrap up There’s a drink out there for every kind of party! Sip and enjoy. SOURCE:https://brandspurng.com/2021/11/13/10-cocktails-for-your-next-themed-party/ 1 Like
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| Politics › Excise Duty Regime: MAN To Lose N1.9 Trillion As FG Proposes Re-introduction by postbox(op): 11:38am On Nov 11, 2021 |
Between 2022 and 2025, the proposed re-introduction of excise duty on non-alcoholic would amount to 1.9 trillion losses in revenue and sales. The Manufacturers Association of Nigeria (MAN) disclosed this recently at MMS Business Discourse with the theme: “X-raying the Proposed Excise Duty Regime for Carbonated Beverages in a Recovering Economy.” The Chairman of Fruit Juice Producers branch of MAN, Mr. Fred Chiazor, said that the losses indicate a 39.5 per cent loss due to imposition of the new taxes with concomitant impact on jobs and supply chain businesses. The group called for a suspension of the fiscal policy, even as it noted that the proposed excise duty collection would shrink the sector’s contribution to the GDP, which currently stands at 35 per cent. “Government could lose up to N197 billion in Value Added Tax (VAT), EIT fund and Collective Investment Trust (CIT) revenues occasioned by the drop in industry performance,” the MAN representative said. He argued that the tough economic situation in the nation should see the government introduce fiscal palliatives and tax rebate, instead of introducing excise duty collection. Excise Duty Regime: MAN To Lose N1.9 Trillion As FG Proposes Re-introduction Earlier, the Comptroller-General of Nigeria Customs Service (NCS), Col. Hammed Ali (Rtd), stated that with the wide production and consumption of carbonated non-alcoholic drinks locally, there is a strong indication that it will trigger a significant revenue rise from excise duty when brought under excise control. Ali, who was represented by the Controller, Lagos Industrial Command, Comptroller, Monica Shaahu, presented a paper entitled, “Merits and Demerits of Excise Duty in a COVID-19 Recovering Economy.” Comptroller Shaahu noted that bringing the carbonated non-alcoholic and alcoholic drinks under excise control would cushion the effects of the overdependence on oil/ import duty revenue occasioned by global econonic response to COVID-19. “Away from the revenue view, the health and environment hazards presented by the production and consumption of carbonated drinks will be ameliorated bringing them under regulation and control. Excise traders under the new regime are likely to think of exportation to enjoy the duty free delivery incentives from the Federal Government thereby attaracting more forex to the economy. “Given the lesson learnt from the impact of COVID-19 and its effects; many nations of the world have re-strategised their economical system in a more diversified way to achieve a robust, stable and prosperous economy with a long term benefit. SOURCE:https://brandspurng.com/2021/11/11/man-to-lose-n1-9-trillion-as-fg-proposes-re-introduction/
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| Agriculture › Arla Foods Unveils Five-year Strategy For Sustainable Dairy Production by postbox(op): 11:09am On Nov 11, 2021 |
Arla Foods has announced a five-year strategy to become more sustainable in its dairy production and to responsibly grow its business. In the next five years, Arla says that it is prepared to increase its investments in areas including sustainability, product innovation, capacity expansion and digitalisation by more than 40% to €4 billion+. The company has also unveiled a new retainment policy allocating a higher supplementary payment of €1 billion+ over the next strategy period to support its farmer-owners on their sustainability missions. Peder Tuborgh, Arla Foods CEO, commented: “We are at a defining moment for dairy and our farmer-owners. The twin challenges of climate change and malnutrition are the most difficult facing our global food systems. It requires urgent action, and dairy is part of the solution.” He continued: “If there ever was a time to step up and create the future of dairy, it is now. In the next five years, we must collaborate with our owners, customers and partners to accelerate our transformation to a resilient and sustainable dairy value chain fit for the future.” Across its business, Arla has raised its target to a 63% reduction in greenhouse gas emissions by 2030. This will be done by accelerating its conversion to green electricity, fossil-free fleets and recyclable packaging, as well as by having zero virgin plastics in branded packaging by 2030. SOURCE:https://brandspurng.com/2021/11/11/arla-foods-unveils-five-year-strategy-for-sustainable-dairy-production/
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| Business › Nigerian Breweries Invests $114 Million In Project Expansion by postbox(op): 4:13pm On Nov 10, 2021 |
Nigerian Breweries (NB) Plc yesterday disclosed that it had reached about 56 per cent in local sourcing of raw materials and injected up to $114 million (N55 billion) in capital investments and expansion projects to create more wealth for the economy. At a media parley to commemorate the firm’s 75th anniversary in Lagos, the company’s Corporate Affairs Director, Sade Morgan, said the company had invested up to N98 billion in the cultivation of local raw materials, in addition to sorghum and cassava value chains through commercial purchase and smallholder farming in the last five years. She said: “NB Plc, in its bid to build a resilient economy through sustainable capital investments, have injected about $114 million in capital investments and expansion projects scheduled for 2021/2022 in Ama (Enugu) brewery. “The company has prioritised import substitution and accretion for foreign reserve with N78 billion in investing and cultivating locally sourced materials in the last 5 years and N20 billion in sorghum value in 2021 through commercial purchase and smallholder farming.” Morgan noted that despite the pandemic in 2020, the company kept to its strategy of delivering satisfaction and growth, adding that the Nigerian economy still remains an exceptional market with the right fundamentals for growth. According to her, the company is strategically focused to achieve a 100 per cent target in local sourcing of raw materials, especially in the availability of local ingredients needed for production. “We have done about 56 per cent in local material sourcing but our packaging material is at 100 per cent. The challenge with the raw material is the availability of local ingredients that goes into making most of our products. “So that is an area where we will continue to pioneer as we did in backward integration for sorghum but for now, we want to be able to satisfy our consumers and give them the same quality of beer that they can get anywhere in the world.” Also speaking, the newly appointed Managing Director, Hans Essaadi, revealed that the company intended to invest significantly in business expansion as part of its growth strategy and objectives. “We have grown with Nigeria and it is clear that moving forward, we will continue to invest significantly in capacity extension to meet our objectives as well as demands in the market.” “We should expect much of this extension in the East and Northern part of the country and our majority shareholder, Heineken is committed to this and this is good as it will bring direct and indirect job opportunities for Nigerians”, he said. SOURCE:https://brandspurng.com/2021/11/10/nigerian-breweries-invests-114-million-in-project-expansion/
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| Career › Standard Chartered Takes A Stance On Menopause In The Workplace by postbox(op): 6:45pm On Nov 09, 2021 |
To create a more inclusive working environment, Standard Chartered announced the launch of its first-ever dedicated menopause guidance for the Bank’s employees, coinciding with World Menopause Day. The Bank announced it is taking a number of actions to make sure support and guidance around menopause is provided to all colleagues. This approach is designed to enhance the company’s existing health and wellbeing policy for its 85,000-strong workforce in over 59 markets globally. Supporting employees across Asia, Africa, the Middle East, Europe and the Americas, key changes include: A specialist guide for all employees, including dedicated advice for People Leaders, to help educate and increase awareness of the menopause. Flexible working options that have been launched at-scale earlier this year provide a particular focus on how the Bank can support colleagues in the management of menopause symptoms. Availability of menopause counselling through the Bank’s Employee Assistance Programme. Peer-to-peer support facilitated through the internal Employee Resource Groups. Additional uniforms available for front-line staff. Access to private, cool and well-ventilated areas. A report published by the Bank, Menopause in the Workplace: Impact on Women in Financial Services [1] , in partnership with the Financial Services Skills Commission, reveals that women’s experiences of menopause impacts their confidence in performing their roles. Additionally, it points out that a lack of awareness and support from employers and colleagues to help manage these symptoms means that women are less keen to progress into more senior roles and may leave work altogether. The bespoke research fielded in the UK brings to the forefront the importance of talking openly, positively and respectfully about menopause to support women: a significant finding pertinent to the Bank’s entire female population. Tanuj Kapilashrami, Group Head of Human Resources at Standard Chartered, comments: “There’s a culture of silence around the menopause in financial services, with many women taking it on themselves to absorb the impacts of their experiences. A lack of understanding and support is impacting female progression and at times leading to women opting out of the workforce altogether. “We are proud to raise the awareness that’s needed to further create a more inclusive and supportive workplace for all employees. It’s time we shine a spotlight on the menopause; acknowledge we can talk about it openly and accept this directly impacts someone’s wellbeing and their career.” Millicent Clarke, Regional Head of HR at Standard Chartered Africa and the Middle East (AME), said: “Organisations must normalise the conversation around menopause, break down barriers and foster inclusion in the workplace. If we want to continue to move the needle on women’s career progression, especially at C-suite level, the stigma around menopause must be addressed, and this starts with implementing practical guidance and being really supportive of women experiencing this phenomenon. At Standard Chartered, the wellbeing of our employees comes first, and we are proud to raise awareness and provide the necessary tools and resources to ensure all staff going through the menopause are properly supported.” The report identifies initiatives that other organisations, not just in financial services, can also implement to address the barriers faced by women experiencing menopause, such as additional training, awareness raising activity and greater flexibility in working arrangements. The announcement comes as Standard Chartered recently signed the UK Menopause Workplace Pledge committing to acknowledging that menopause can be an issue in the workplace. The Bank has a track record of publicly pledging to creating a diverse and inclusive workplace culture, including setting senior leadership diversity targets across UK and US and becoming a signatory of The Valuable 500 , a global movement putting disability on the business leadership agenda. This work is recognised externally regularly, for example, lately Standard Chartered ranked for the first time as a World’s Best Employer in the Forbes 2021 list and featured in the HERoes Women Role Model Lists 2021 for the fifth consecutive year running. SOURCE:https://brandspurng.com/2021/11/09/standard-chartered-takes-a-stance-on-menopause-in-the-workplace/
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| Business › How To Unlock Cash From Your Balance Sheet by postbox(op): 1:30pm On Nov 09, 2021 |
A company’s income statement is typically the first stop for management teams seeking ways to reduce debt-to-equity ratios, improve profitability, and increase resilience. That’s for good reason: creating long-term value requires sustainable growth, as well as changes to margins and cost structure. Yet few companies give much thought to the assets and liabilities on a balance sheet that can unlock lucrative opportunities. Here are six proven strategies to consider. Analyze receivables and payables Many companies treat working capital simply as the cost of doing business. In our experience, few consider the negative impact of extended customer terms, tight payment cycles, and high inventory levels on true economic value. That’s why a thorough analysis of previous years’ transactions usually reveals process gaps, unfavorable and unnecessary terms with customers and vendors, and other near-term opportunities to improve working capital. By closing gaps caused by slow invoicing, weak collections policies, early payments to vendors, inefficient payment processes, and out-of-market terms, a company can typically reduce its cash-conversion cycle, freeing up cash to make investments, reduce debt, pay dividends, and fund mergers and acquisitions. For example, a global agricultural-products company conducted a transaction-level analysis as part of a broad effort to achieve best-in-class improvements in working capital. The results helped it design new product- and region-specific initiatives to transform its order-to-cash process, as well as various category-specific measures and process improvements to extend the procure-to-pay cycle. Reimagine or divest underperforming long-term assets Sizable opportunities to release cash may also exist further down the asset ledger. An analytical look at the returns generated by investments in property, plants, and equipment—among other long-term assets—can single out stranded or noncore assets that detract from performance. Those assets can then be sold or repurposed, improving results by freeing up cash through the deployment of assets to higher-value activities and delaying planned capital expenditures. One North American distribution company eager to reduce its debt-to-equity ratio and deploy its capital investments in a way that would yield higher returns used an ROIC framework to determine which assets and business units were performing well and could deliver more, and which were not and should receive less investment or be divested. An analysis of the relative performance of businesses and assets indicated that there was a wide dispersion around the company’s aggregate ROIC—some were performing better and some far worse. The company identified where to invest and prioritized its list of underperformers by assessing how easily each business could achieve its target ROIC, as well as the ways in which each divestment could adversely affect liquidity or the remaining businesses. Recover ‘trapped’ cash and accelerate returns from partnerships Companies often find that not every dollar on the balance sheet is equal; cash may be sitting in foreign jurisdictions without an operationally or tax-efficient way to deploy it. Regularly reviewing cash balances, requirements, and transfers globally may free this “trapped” cash and put it to productive uses, such as capital expenditure. Similarly, companies may participate in joint ventures (JVs) or other partnerships that deliver cash dividends, but those dividends might not be sent in a timely manner. This is effectively the same as trapped cash: it is cash that belongs to the company but is not truly available. As part of a thorough review of its balance sheet, a global engineering and construction company identified a number of JVs that owed cash payments. Following the review, the company was able to capture the cash it was owed and also establish a regular cycle for collecting cash more quickly in the future. In addition, better global cash management can reduce business complexity and urgent cash transfers. In a recent review of its global cash and bank account structure, one telecommunications provider realized that only about 50 percent of the cash on its balance sheet was truly accessible because of local account restrictions and other transaction frictions. The company reformed its cash-management practices and bank account structures globally, allowing it to have much greater access to this trapped cash, deploy it to profitable activities, and reduce the provider’s reliance on external funding. Manage credit support strategically Many businesses require credit support—such as cash collateral, letters of credit, and surety bonds—on a regular basis for a wide range of commercial and regulatory purposes. However, while these tools often soak up precious liquidity, many companies pay little attention to them. A high-performing treasury function, often in conjunction with the legal function, can improve a company’s liquidity position by providing strategic insights into credit support in multiple dimensions. First, the company should review all credit-support requirements on a regular basis (at least quarterly) to determine if existing credit support is still required. For instance, if a project requiring cash collateral is now complete, the cash collateral should be returned. Second, for the credit support that is required, the company should identify the most capital-efficient way to provide it. For some, this can mean replacing cash collateral with a letter of credit that does not affect revolver availability; for others, it can mean replacing a letter of credit with a surety bond that does not require further collateral. Recently, a large, independent power producer undertook such a review of its credit support. It had posted more than $250 million to commercial and regulatory counterparties, and due to ownership changes, credit support had not been a focus. The result of the review was significant: the company was able to recover more than $50 million in cash within weeks and another $50 million within six months. Reduce long-term operating liabilities Assets are not the only opportunities for releasing cash. A pool of cash to invest in high-performing business ventures or to distribute to shareholders can be amassed by reducing long-term liabilities, including environmental ones. While the actions required for environmental compliance do not change, a company may be able to reduce—or better manage—its liabilities by examining underlying assumptions. If credit support in the form of cash or letters of credit exists for a given liability, a company may also be able to improve liquidity. During a recent review of environmental obligations, one US power producer discovered that its balance sheet included several oversize obligations and failed to account for completed reclamation and remediation work. The company worked with regulators to revise its environmental liabilities and then secured less costly credit support for them. A similar review of long-term, postemployment obligations would likely highlight additional opportunities to free up cash. Companies that schedule robust, regular reviews of their balance sheets can increase working capital and convert underperforming assets and capital-consuming liabilities into accessible cash. Together, these changes can finance M&A, research and development, and capital expenditures; strengthen resilience; and increase distributions to shareholders. Identify alternatives for funding of pension obligations Many mature global companies have significant pension and employee-benefit obligations. Those with future defined-benefit obligations face uncertainty regarding the amount and timing of those obligations. These companies have a range of alternatives to the status quo, including liability-driven investing; modifying existing defined-benefit plans; freezing the defined-benefit plan and converting it to a defined-contribution plan; adopting a cash balance plan; or combining several of these options. Of course, these are major decisions that affect a range of stakeholders—not the least of which are employees and retirees. But companies have been successful in executing such transitions. Recently, a large US retailer eliminated several billion dollars of pension liability for 30,000 employees by transferring the liability entirely to an annuity provider in conjunction with a plan termination. The retirees covered by this plan will receive the same pension benefit on the same schedule as they currently receive or that they expected to receive in the future. While the transaction did not provide cash to the retailer today, it eliminated future funding requirements and volatility. The annuity provider will seek to profit by earning a return on the pension assets in excess of its required payouts to the retirees. These opportunities are proven strategies to release cash from the balance sheet in the right situations. If they’re not sustained, however, companies can find themselves in the same position they were in before they released cash. In our experience, a robust capability-building program, in tandem with the cash-release execution, is critical to sustaining impact. Furthermore, this involves building the capabilities not just of the finance and treasury functions but also across the business so that the entire organization considers the balance sheet on a daily basis. SOURCE:https://brandspurng.com/2021/11/09/how-to-unlock-cash-from-your-balance-sheet/
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| Investment › UBA To Issue US Denominated Senior Unsecured Bond by postbox(op): 11:40am On Nov 09, 2021 |
UBA has announced plans to issue a new senior unsecured bond with a 5-year maturity under its Global Medium Term Note Programme. The leading financial institution disclosed in a statement forwarded to the Nigerian Exchange Limited and notified the bourse that it has mandated Citigroup Global Markets Limited, Mashreqbank psc, Renaissance Securities (Cyprus) Limited, Standard Chartered Bank, and United Capital PLC as Joint Lead Managers to arrange a global investor call in addition to a series of fixed income investor meetings (each of which will not constitute a public offer in Nigeria) commencing on November 8, 2021. In connection with the new bond offering, UBA proposes to redeem its outstanding US$500mn 7.750% 2022 bonds (US91339TAA51 | XS1623828966) and will announce today a cash tender offer for any and all of the outstanding bonds (the “Tender Offer”). Citigroup Global Markets Limited, Mashreqbank psc, Renaissance Securities (Cyprus) Limited, and Standard Chartered Bank are dealer managers for the Tender Offer. SOURCE:https://brandspurng.com/2021/11/09/uba-to-issue-us-denominated-senior-unsecured-bond/
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| Business › CBN’s Suspension Of FX Supply To BDCS Boosts Banks’ Income by postbox(op): 9:31am On Nov 08, 2021 |
With Central Bank of Nigeria (CBN) suspending Foreign Exchange (FX) supply to Bureau De Changes (BDCs), a total of six banks in nine months of 2021 generated N145.6billion income from trading in FX.https://brandspurng.com/2021/11/08/cbns-suspension-of-fx-supply-to-bdcs-boosts-banks-income-as-6-dmbs-rake-in-n145-6bn/ 2 Likes
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| Business › MTN, Airtel Get CBN Approval To Start Banking Business by postbox(op): 2:30pm On Nov 07, 2021 |
MTN Nigeria, which controls 40 percent market share, and Airtel which has a 27 percent share of the telco market, have been given approval-in-principle by the Central Bank of Nigeria (CBN) to commence banking business in the country, the two leading communication giants said on Friday. In separate letters addressed to the management of the Nigeria Exchange, the telecom companies announced that their subsidiaries have been granted approval in principle to operate Payment Service Banks in Nigeria. “Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across, today announces that its subsidiary SMARTCASH Payment Service Bank Limited (“Smartcash”) has been granted approval in principle to operate a payment service bank business in Nigeria,” the company said in its letter. It said the “Final approval is subject to the Group satisfying certain standard conditions within six months”. On its part, MTN said: “MTN Nigeria communications PLc as promoter received an approval in principle dated 4 November 2021 from the CBN for a licence application for the proposed MoMo Payment Service Bank Limited”. MTN said the grant of approval in principle is the first step in the process towards final approval, subject to the fulfillment of certain conditions as stipulated by the CBN. “The decision to issue a final approval is firmly within the regulatory purview of the CBN and we respect their right and judgment in that regard,” it said. Reacting to the development, Segun Ogunsanya, CEO, Airtel Africa, said: “I am very pleased that Smartcash has been granted an approval-in-principle to operate a service bank business in Nigeria. “We will now work closely with the Central Bank to meet all its conditions to receive the operating licence and commence operations”. He said that the final operating licence will enable Airtel to expand its digital financial products and reach the millions of Nigerians that do not have access to traditional financial services. “I am looking forward to working closely with the Government, the Central Bank and traditional financial institutions to expand financial inclusion and meet the evolving needs of our customers and the economy,” Ogunsanya said. In its response, MTN Nigeria affirmed its commitment towards the financial inclusion agenda of the CBN and the Federal Republic of Nigeria and promised to continue to explore means whereby it can contribute to its fulfillment. “While we look forward to the eventual grant of a final PSB licence, we will continue to communicate material information in accordance with regulatory obligations and guidelines,” MTN said. The granting of banking lincences to the telecoms will set off a new competition between them and the banks. SOURCE:https://brandspurng.com/2021/11/07/mtn-airtel-get-cbn-approval-to-start-banking-business/
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| Nairaland General › LCC Averts Fire Outbreak Along Lekki-epe Expressway by postbox(op): 9:46am On Nov 07, 2021 |
The Lekki Concession Company Limited’s (LCC) Route and Incident Management Team, alongside its Security Team, averted a potential fire outbreak along the Eti-Osa Lekki-Epe expressway at midnight Thursday, November 4, 2021 The Teams were the first responders at the scene of a leaking petrol tanker, helping to avert a tragedy around the Conservation Toll Plaza, where they spotted the distressed tanker. The Route and Incident Management team proactively alerted the fire service and other relevant agencies to assist the distressed tanker and prevent a further calamity. LCC’s Security team ensured there was no breakdown of law and order at the incident scene by warding off miscreants trying to scoop fuel from the broken down tanker. LCC’s Route Patrol Officers created a diversion from the carriageway to the other side to ensure zero vehicular traffic. The spilt fuel on the carriageway and side drainage was later neutralized and blanketed by the Lagos State Fire Service, while the leakage on the trailer was also blocked and reduced. The Fire Service team then escorted the trailer to its destination at Ibeju-Lekki before the road was reopened at around 3:00 AM. Commenting on the incident, LCC’s Head of Route and Incident Management, Michael Aina, said LCC’s efforts and the timely intervention of the other agencies helped avert what could have been a significant tragedy. “We are happy we were able to quickly attend and avert what could have been a major disaster to residents and commuters on the Eti-Osa Lekki-Epe Expressway corridor. This could have been a major disaster but for the timely intervention of all the relevant agencies,” he said. Aina, added that LCC provides such value-added services including 24 hours’ Free breakdown/Recovery, emergency assistance and security patrol on the expressway, aside from road maintenance. He also encouraged road users to call LCC Toll free helpline 0800 22 555 22 or 08188779350, 08085834798 for immediate assistance on the Eti-Osa Lekki-Epe Expressway. SOURCE:https://brandspurng.com/2021/11/06/lcc-averts-fire-outbreak-along-lekki-epe-expressway/
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| Business › How To Manage Risk With The Business Continuity Plan (BCP) by postbox(op): 3:03pm On Nov 05, 2021 |
here are many uncertainties in business and the more a business begins to grow, the more there is an increase in the number of uncertainties, which could be expanding to a new geographical location, promoting team members to handle more challenging task, engaging in the production of a new line of products or seeking partnerships to strengthen the market share. All these uncertainties are risk factors associated with businesses. The ability of the business owner to ensure business can continue its operations in spite of the numerous risks at any point in time could determine whether a business would go bankrupt or evolve from the unforeseen instances. What Is the Business Continuity Plan? The business continuity plan is a document that outlines what actions or measures should be taken should there be a disruption in the form of an associated risk such as fire outbreak, loss of equipment, death of the business owner or a collapsed building. The ability to get back into business despite the disruption is key as customers will continue to demand for the products and services being offered and inability to meet these demands would lead to a huge loss in market share and more efforts to win them back if it takes a longer time for the business to get back on its feet. A business continuity plan is significant in the following ways 1. Availability and Accessibility: A business is sustained and can continue to offer its products and services most especially if they depend on the use of Information Technology (IT) infrastructures such as cloud computing that helps to save and backup all documents online in real time such as receipts, invoices, purchase orders, bank transactions, log sheets of staff etc. and most especially ability to access documents that can aid the functioning of the human resources, suppliers, procurement, operations and all the different aspects that contributes most to the direct impact the business makes to all stakeholders 2. Uninterrupted operations: the systems that governs the smooth operations of a business and the easier they can be installed immediately after the disruption ensures that operations can continue seamlessly. 3.Disaster recovery: A secondary source of ensuring a business can sustain itself back into operations is key when it comes to disaster recovery and its management. Disaster recovery could be the ability to get back from where everything stopped. A website that has experienced cyber attack and is the major source of engaging customers should have a sub-domain being hosted separately so that getting back live aids the recovery process and minimizes loss. rocesses for designing business continuity plan While planning to have a holistic document for the business continuity plan, the following metrics are important to ensure a robust design is carried out Business prioritization: The starting point for planning a business continuity plan is to identify and quantify the risks, threats and vulnerabilities. This should be done across all platforms and departments. Adoption into IT: Take the input from business prioritization and perform an overall business continuity program design. Information Technology gives a competitive advantage when it comes to risk management as it provides the infrastructure to safeguard and ensure easy recovery and accessibility to files saved with the aid of cloud computing. The risks identified from the business prioritization should be adopted into workable IT systems Manage: Ability to begin to utilize what has been designed prior to a gap caused by a breach requires discipline to enhance building the capacity of the team to utilize the systems designed effectively by updating files regularly on a routine basis. The key components of business continuity are: Strategy: Strategy helps to create a secondary system in place while ensuring that the day-to-day operation runs smoothly. Organization: Objects that are related to the structure, skills, communications and responsibilities of its employees. Organization of the key components of the internal and external resources that keeps the system running, most especially the human resources, their responsibilities and opportunity to communicate output through a regular assessment of all systems ensures organization of the overall plan for business continuity. Software applications and management: Any Software applications that are used regularly used for business operations, a backup of the software for possible set-up and availability for its implementation. Processes: Documentation of all processes with specific terms in the form of a flow chart or process map, such that any team member can begin to deploy the knowledge from the files without needing a third party to make explanations. Technology: Every form of technology that supports the overall existence of the business, such as the infrastructures for production, maintenance, repairs, use of energy etc should be documented. A business continuity plan is important because it becomes a reference point should any form of disaster occur and helps to provide the framework for recovery to deal with different form of risk and ability to return to operating again. SOURCE:https://brandspurng.com/2021/11/05/how-to-manage-risk-with-the-business-continuity-plan-bcp/
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| Business › CBN Unveils Framework To Empower 100 Companies by postbox(op): 2:22pm On Nov 03, 2021 |
The Central Bank of Nigeria, (CBN) has commenced the 100 for 100 Policy on Production and Productivity with the unveiling of an operational framework to guide interested companies in participating in the initiative.SOURCE:https://brandspurng.com/2021/11/03/cbn-unveils-framework-to-empower-100-companies/
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| Business › Nigerian Trade & Investment Forum @ Expo 2020 Dubai. by postbox(op): 2:05pm On Nov 03, 2021 |
The World Expo, officially known as International Registered Exhibitions, which holds every five years are a global gathering of nations dedicated to finding solutions to pressing challenges of our time by offering a journey inside a universal theme through engaging and immersive activities. World Expos welcome tens of millions of visitors, allow countries to build extraordinary pavilions and transform the host for years to come. The current World Expo is being hosted by Dubai, United Arab Emirates and was originally scheduled for 20 October 2020 to 10 April 2021 but postponed due to the COVID-19 global pandemic and currently holding from 01 October 2021 to 31 March 2022. The venue of the Expo, titled Expo 2020 Dubai, is the Dubai Exhibition Centre. Expo 2020 Dubai, themed “Connecting Minds, Creating the Future”, provides a platform for Countries, Governments, Multilateral Organizations, Foundations, NGOs and Businesses to gather in one place to foster creativity, innovation and proffer solutions to universal problems. Over 25 million visitors from 192 countries are expected in Dubai during the period of the Expo. Nigeria is one of the countries participating in the Expo and several programmes and activities have been lined up, among which is the Nigerian Trade and Investment Forum, to take advantage of the massive gathering of people from around the world, to attract investment into several sectors of the Nigerian economy, particularly agriculture, oil & gas, power, transportation, technology and manufacturing among others. The World Expo, officially known as International Registered Exhibitions, which holds every five years are a global gathering of nations dedicated to finding solutions to pressing challenges of our time by offering a journey inside a universal theme through engaging and immersive activities. World Expos welcome tens of millions of visitors, allow countries to build extraordinary pavilions and transform the host for years to come. The current World Expo is being hosted by Dubai, United Arab Emirates and was originally scheduled for 20 October 2020 to 10 April 2021 but postponed due to the COVID-19 global pandemic and currently holding from 01 October 2021 to 31 March 2022. The venue of the Expo, titled Expo 2020 Dubai, is the Dubai Exhibition Centre. Expo 2020 Dubai, themed “Connecting Minds, Creating the Future”, provides a platform for Countries, Governments, Multilateral Organizations, Foundations, NGOs and Businesses to gather in one place to foster creativity, innovation and proffer solutions to universal problems. Over 25 million visitors from 192 countries are expected in Dubai during the period of the Expo. Nigeria is one of the countries participating in the Expo and several programmes and activities have been lined up, among which is the Nigerian Trade and Investment Forum, to take advantage of the massive gathering of people from around the world, to attract investment into several sectors of the Nigerian economy, particularly agriculture, oil & gas, power, transportation, technology and manufacturing among others. Proposed Dates: The proposed date of the event is Saturday 04 to Monday 06, 2021. Proposed Venue: TBD The Sectors of focus at the Forum include: • Agriculture • Oil & Gas • Power • Transportation • Manufacturing • Technology • Education • Health • Construction SOURCE:https://brandspurng.com/2021/11/03/nigerian-trade-investment-forum-expo-2020-dubai/
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| Business › Mele Kyari: Dangote Refinery, Others To Drive Fuel Supply by postbox(op): 1:09pm On Nov 02, 2021 |
The 650,000 barrels per day (bpd) Dangote Petroleum Refinery, Nigerian National Petroleum Corporation (NNPC) as well as other modular refineries are expected to be the major drivers of Nigeria’s demand for petroleum products, which is projected to grow massively in the nearest future.SOURCE:https://brandspurng.com/2021/11/01/dangote-refinery-others-to-drive-fuel-supply-kyari/ 6 Likes 1 Share
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| Business › GMD UBA, Kennedy Uzoka Wins "Finovator Of The Year" Award by postbox(op): 5:25pm On Nov 01, 2021 |
The Group Managing Director/Chief Executive Officer of United Bank for Africa (UBA) Plc, Kennedy Uzoka, has been announced as the winner of the Finovator of the Year’ Award for the year 2021.SOURCE:https://brandspurng.com/2021/11/01/gmd-uba-kennedy-uzoka-wins-finovator-of-the-year-award/
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