₦airaland Forum

In the first six months of the year, the total value of trade in agricultural goods stood at N1.5tn, data from the National Bureau of Statistics (NBS) have shown.

Imports accounted for N1.3tn of total trade in the sector while exports stood at N292.5bn within the review period.

This resulted in a trade deficit of N1.07tn in the agriculture sector.

Top imported agricultural products during the period under review included Durum wheat, mackerel, Herrings, edible mixtures, crude palm oil and malt, imported from countries such as Canada, Lithuania, Denmark, Russia, Netherlands and France.

In the first quarter of the year, total trade in the sector stood at N757.4bn. Out of this amount, only N127.2bn was earned as exports while N630.2bn was spent on importing agricultural products.

In quarter one, the NBS said, Top exported Agricultural products were Sesamum seeds exported mainly to China (valued at N23.1bn), Japan (N8.3bn) and Turkey (N3bn).

This was followed by good fermented cocoa beans exported to the Netherlands (N9.2bn), Malaysia (N5.5bn) and the United States (N3.2bn).

Other major exports under this sector includes Cashew nuts in shell exported to Vietnam and India worth, N5.3bn and N5.1bn respectively.

However, there was importation of Durum wheat (not in seed) worth N66.97bn from Lithuania. Durum wheat also came from Latvia (N41.51bn), Canada (N41.31bn) etc. Edible mixtures or preparation of animal worth N82.86bn, was imported from Denmark. Herrings was imported from Russia (N15.8bn) and Netherlands (N14bn).

Agric Imports Hit N1.3trn In Six Months – NBS
Meanwhile, total value of trade in agricultural goods rose to N817.4bn in Q2 2021, consisting of N652.1bn import component and N165.3bn worth of exports.

Within the period, the Federal Government spent N70.37bn on importing Durum wheat (not in seed) from the United States, N54.5bn, N35bn, N32.2bn and N25.2bn on Durum wheat imports from Canada Argentina, Lithuania and Latvia respectively.

The next product imported under this category was Blue whiting from Russia (N27.23bn) and Netherlands (N13.41bn). During the quarter, mackerel worth N9.61bn was imported from Netherlands and N4.91bn from Japan.

There was also the importation of Malt, not roasted from Belgium (N21.42bn) and France (N4.48bn). Other major importation was crude palm oil from Singapore in the value worth N15.09bn and India N11.68bn).

On exports in Q2, the NBS said, The export component of this trade totaled N165.27bn. Topmost of these exported agricultural products were good fermented Nigerian Cocoa beans exported mainly to the Netherlands (N16.48bn), Malaysia (N9.32bn) and United States (N8.41bn).

The next leading product was Cashew nuts, in shell exported to Vietnam (N33.54bn) and India (N3.24bn). Other major exports under this sector include Sesamum seeds whether or not broken exported to Japan in the value worth N7.28billion, China N7.14billion and Coconuts N9.94billion respectively.

Further analysis of trade data from the NBS revealed that that total imports of the agriculture goods in H1 2020 stood at N677bn. This implies that total imports in the sector rose by N605bn from H1 2020 to H1 2021.

Financial experts have continually stressed the need for the government to tackle the issue of insecurity ravaging food producing states in the country to boost food sufficiency and agricultural exports.

The Founder and Managing Director of Cowry Asset Management Limited, Johnson Chukwu, had said that Nigeria's food insufficiency limited its capability to export agricultural products.

He said, Most of Nigeria's agriculture exports are goods like sesamum seeds while the major agricultural production in the country are tubers, seeds and grains. Most of these goods are for local consumption, and they don't have a huge international market, other than Nigerians in the Diaspora.

He called on the government to ensure food sufficiency in the country and help farmers boost their capabilities.

SOURCE:https://brandspurng.com/2021/09/28/agric-imports-hit-n1-3trn-in-six-months-nbs/

Akwa Ibom state government has identified 5,000 tourism companies to be issued with certificates to authenticate their businesses in the state tourism sector.

The state government has also opened Tourism Information Desk at the state Ibom Airport to guide tourists coming to the state.

The Chairman of the Akwa Ibom State Hotels and Management Board, Obong Ini Akpabio disclosed this while unveiling the Ibom Airport Tourism Information Desk.

According to him, the authentication of the 5,000 tourism firms operating in the state would help check security breach.

He explained that the Tourism Information Desk at the airport would give the needed information to all travellers and tourists coming to the state.

Akwa Ibom To Certify 5000 Tourism Firms
“The Desk is to provide much-needed information to all travellers and tourists into our state who require knowledge of hotels, restaurants, bars, supermarkets and entertainment centres that are safe for them to patronize.

“In addition, we intend to promote to visitors our tourism sites like Godswill Akpabio International Stadium, the 21 storey Smart Building, the Ibom Golf course and when completed the International Worship centre in addition to our Heritage Sites, “he stressed

Akpabio explained that the provision of the Tourism Information Desk at Ibom Airport necessitated the certification and documentation of tourism premises to assist the government to identify any security breach.

He listed crimes associated with tourism businesses to include robbery, drug abuse, human trafficking in persons among others saying documentation will help security agencies to rise to the occasion.

“The certificate certifies that the hospitality enterprise had been documented by us .We want this certificate laminated or framed and prominently at the reception. By being documented, you have made your enterprise known to the government and it also signifies that you are a safe place to visit, “he said.

Akpabio urged tourism-related business operators to bring their flyers to advertise their content at the Information Desk at Ibom Airport.

He said the tourism sector in the state would continue to be elevated to greater heights in line with the complete agenda of the state governor, Mr Udom Emmanuel.

SOURCE:https://brandspurng.com/2021/09/28/akwa-ibom-to-certify-5000-tourism-firms/

Bank customers are paying 36 per cent maximum lending rates for loans but getting an average of 1.15 per cent interest on savings deposits with their banks, the Central Bank of Nigeria (CBN) data has shown.

The report, released at the weekend in furtherance of the apex bank’s transparency and full disclosure stance, showed that as of September 17, 2021, manufacturers pay a maximum rate of 36 per cent per annum for Stanbic IBTC loans, Heritage Bank (35 per cent), Heritage Bank (35 per cent), FCMB (30 per cent), Zenith Bank (30 per cent), Fidelity Bank (24 per cent) and Keystone Bank (34 per cent), among others.

Heritage Bank priced its agriculture and forest loans at 35 per cent per annum, followed by Keystone Bank (34 per cent), Zenith Bank (30 per cent), Providus Bank (30 per cent), Sterling Bank (33 per cent), Polaris Bank (32.50 per cent) among others.

Loans to the government were priced highest in the industry, with Union Bank collecting 49 per cent per annum maximum loan rate from its government customers followed by FCMB and Stanbic IBTC (42 per cent), Heritage Bank (41 per cent), Sterling Bank (33 per cent), Providus Bank (30 per cent), Wema Bank (30 per cent), Zenith Bank (30 per cent) among others.

However, Ecobank, Access Bank, FCMB, Fidelity Bank, GTBank, Keystone Bank and Polaris Bank pegged their interest rate on savings at 1.15 per cent.

Others that adopted the same of 1.15 per cent on savings deposits are Stanbic IBTC, Sterling Bank, Titan Bank, UBA, Union Bank, Wema Bank and Zenith Bank.

Heritage Bank pays 4.20 per cent, which is the highest interest on savings deposit on the reviewed date, followed by SunTrust Bank which pays 4.10 per cent.

Ecobank pays 9.67 per cent for time deposit, others are Access Bank (9.52 per cent), Coronation Bank (8.55 per cent), Heritage Bank (13.88 per cent), GTBank (5.57 per cent), Keystone Bank, 8.22 per cent), Nova Merchant Bank (10.72 per cent), Rand Merchant Bank (8.85 per cent), Sterling (9.77 per cent). Others are Zenith Bank (4.72 per cent), Wema Bank (4.94 per cent), UBA (1.00 per cent) FCMB (0.25 per cent), among others.

The CBN observed that despite the rise in lending rates, banks were paying less deposit interest to depositors with the rising spread between an average term deposit and average maximum lending rates.

Bank Customers Pay 36% For Loans, Get 1.15% On Deposits
The spread gap indicated that customers are paying a far higher fee than they are getting from their banks.

The rising lending rates, analysts said, have led to upward pressure on market rates and the cost of production for the manufacturing sector. They insisted that the rate at which a customer is charged for loans is dependent on the perceived risk level attached to such customers. That explains why prime customers get loans at relatively cheaper rates.

However, the Monetary Policy Rate (MPR), which is the benchmark interest rate at which the CBN lends to the commercial banks, is currently at 11.5 per cent.

Speaking at the end of the Monetary Policy Committee (MPC) meeting held last week in Abuja, CBN Governor Godwin Emefiele noted the improvement in lending to the real sector following the introduction of the Loans-to-Deposit Ratio (LDR) in 2019.

“Industry gross credit increased by N6.63 trillion from N15.57 trillion at end-May, 2019 to N22.20 trillion at end-July, 2021. The credit growth was largely recorded in manufacturing, oil and gas and agriculture sectors,” he said.

He noted the moderate improvement in both the manufacturing and non-manufacturing Purchasing Manager’s Indices (PMIs), though still below the 50-index point benchmark, showed a marked improvement over time.

“In August 2021, the Manufacturing and non-Manufacturing PMIs improved to 46.9 index points apiece, compared with 46.6 and 44.8 index points, respectively, in July 2021. This was attributed to an increase in new orders, driven largely by rising demand, the uptrend in business activity and further normalisation of economic activities,” he said.

SOURCE:https://brandspurng.com/2021/09/27/bank-customers-pay-36-for-loans-get-1-15-on-deposits/

The Central Bank of Nigeria says the e-naira which is set to be launched on October 1, 2021, is a legal tender equal to the value of the naira and thus must be accepted as a form of payment by all merchants and business outlets.

The CBN Director, Payment System Management, Mr. Musa Jimoh, said this during an interview on the ‘Business Morning’ program on Channels Television on Monday.

Jimoh said, “Today, anywhere you present naira to pay, compulsorily it must be accepted because that is our fiat currency. So, the same way naira is accepted that you can’t reject it, is the same way e-naira must be accepted. Anywhere in this country where e-naira is presented, it must be accepted. So, merchants must accept e-naira as a means of payment.”

He advised Nigerians to open e-naira wallets which could be downloaded on their phones from October 1, adding that CBN bears all liabilities.

“The liability of the e-naira money is directly on CBN which is similar to the cash you hold. The liability of the cash you hold today rests with the CBN. So, it gives Nigerians the opportunity to bank with CBN,” Jimoh said.

On whether Nigeria was ripe for the e-naira due to the technological challenges in the country, Jimoh said he didn’t expect it to be a major problem.

He added, “E-naira is a journey. We don’t expect that on October 1, all business merchants in Nigeria will accept it. We don’t even expect that come October 1, all Nigerians will have e-naira. It is a journey. It will continue to grow.

“Remember there was a time in this country when you had to practically beg business outlets, merchants and others to accept POS transactions. But we have come to a point where traders now beg for POS terminals.”

The CBN director added that e-naira comes with many benefits and would save the cost of printing more notes.
“Today the cost of producing the naira and coins is very high. It costs money to print naira in this country. Now, the minting of e-naira is electronic so it reduces cost,” Jimoh stated.

He added that charges of transferring funds would be lower for those using the e-naira.

On why the CBN chose a foreign firm instead of a Financial Technology company in Nigeria, Jimoh said it had to do with capacity.

Businesses In Nigeria Must Accept E-naira Payment, CBN Warns
He said Bitt Inc which will handle the project, had done similar projects for other countries and already had the capacity and experience.

Jimoh added that the company would be registered and managed in part by Nigerians while the technological aspect would be handled by the foreign arm.

The CBN director stated, “The CBN digital currency is not what every country has implemented. We are blazing the trail in Africa. Nigeria is the only country in Africa that is doing it. And so many advanced countries are not doing it. You can only talk of China and the Bahamas that have tried to do something serious on central bank digital currency.

“So, the technology is not everywhere you need to be very sure. You cannot use Nigeria as a testing ground and say oh if it works, well, if it doesn’t work. You have to use entities that have actually done it, that are sure of it.

“What we did is to partner with an entity that has done it, that has that experience because we know that eventually, the system is going to run in Nigeria. So, we also want to domicile some responsibilities here. So, the arrangement is such that you are going to have a Nigerian incorporated company, Bitt Nigeria, which will basically be running the system.”

SOURCE:https://brandspurng.com/2021/09/27/businesses-in-nigeria-must-accept-e-naira-payment-cbn-warns/

The Central Bank of Nigeria (CBN) has extended the naira 4 dollar scheme until further notice. The bank, in a notice released, yesterday, said that all aspects of the operationalization of the program remain the same.
The naira 4 dollar scheme, which started on March 8, was originally scheduled to end on May 8, 2020. But the apex bank said the scheme would continue indefinitely. With the scheme, diaspora remittance recipients are rewarded with an extra N5 for every dollar wired through the official routes.

The incentive was introduced to show up remittances and discourage the use of informal windows. The extension of the scheme, which financial experts had dismissed as desperate and unsustainable, comes as the pressure on the naira continues.

As of press time, the naira exchanged for about N490/$ at the black market while the investors’ and exporters’ (I & E) window rate hovers N410/$. Still, the CBN official rate has remained N380/$.

Naira 4 Dollar Scheme: CBN Vs Aboki FX Crisis Extends Indefinitely

Experts have attributed the manipulation and politicking in the foreign exchange market to the huge differential between the official and parallel markets.

The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, had also observed that the other countries were not happy with Nigeria over the multiple rates.

The plan to harmonize the market, as muted by the apex bank since last year, has stalled.

SOURCE:https://brandspurng.com/2021/09/26/naira-4-dollar-scheme-cbn-vs-aboki-fx-crisis-extends-indefinitely/

The United Bank of Africa (UBA) has published names, BVN and account numbers of customers alleged to have violated the forex policy of the Central Bank of Nigeria (CBN).

The CBN had directed Deposit Money Banks (DMBs) to set up teller points to meet legitimate FX demands — this was after the apex bank halted the sale of FX to Bureau De Change operators.

The UBA had also asked customers to submit only genuine documents to obtain FX for personal and business travel, as well as payment for overseas education and other eligible transactions.

According to UBA, the decision to publish the customers details is in line with the directive by the CBN. UBA did this in compliance with the directive of Central Bank of Nigeria that mandates banks to publish names of defaulters of the forex exchange regulation.

In a statement by the Bank, “based on regulatory directives, the published customers cancelled their trip and failed to return the PTA given to them despite several mails, text messages and follow up phone calls.”

The bank also included the name of a customer, who allegedly presented fake visa to apply for PTA. The names and account numbers are listed in a publication on UBA’s website titled, ‘CBN FX defaulters.

SOURCE:https://brandspurng.com/2021/09/26/uba-publishes-names-bvn-and-account-numbers-of-forex-defaulters/

Paystack, the African fintech company that powers and processes payments for businesses, today announced that it is launching Pay with Apple Pay on its platform.

The company, in a statement, called the integration “the fastest, secure way for Nigerian businesses to accept international payments.”

Apple Pay, Apple’s mobile payments and digital wallet service, provides users with a secure and private way to pay on their iPhones, iPads, Apple Watches and Macbooks.

Despite having a presence in almost every continent since 2014, Apple Pay only made its way into Africa this March through South Africa. Users in the country with Visa, Mastercard and American Express cards can access the payment service from five banks — Nedbank, Absa, FirstRand Bank, Investec and Discovery.

While the launch in South Africa showed Apple’s keen interest in increasing its penetration in sub-Saharan Africa, the tech giant didn’t say if it would expand to other countries like Nigeria and Kenya. Like South Africa, these countries have also seen the adoption of digital payments significantly increase these past few years.

However, instead of waiting for Apple’s next move, Paystack has taken the initiative to integrate the payment service on its platform.

The company is now the first payment gateway in Nigeria to support Apple Pay. Doing so gives Nigerian businesses access to millions of Apple Pay users in the more than 60 countries where the payments service is active.

How To Access Apple Pay On Paystack
Here’s how it works: A customer with Apple Pay enabled will see the option to checkout using Pay with Apple Pay when they tap to buy from a Paystack merchant. Using Touch ID or Face ID, they can then go ahead and pay.

Pay with Apple Pay is available to Nigeria-based businesses that use Paystack. They can accept payments made through any of the Paystack-hosted Commerce tools — Paystack Storefronts or Invoices — and via multiple payment channels including cards, mobile money, USSD, QR codes and EFT.

SOURCE:https://brandspurng.com/2021/09/24/nigerian-businesses-can-now-accept-apple-pay-on-paystack/

iOS 15 isn’t a major overhaul, but the rather lengthy list of improvements adds up to create a much better iPhone experience. Changes to Maps, Photos, and Notes are particularly welcome, while a new Focus feature should tackle distractions.



The best compliment I can pay iOS 15 is that for all the changes Apple’s latest software update introduces — and there are a lot of them — it isn’t long after updating that the enhancements blend into your everyday iPhone usage. The changes and enhancements seem a natural extension of what’s already there.

I’ve been using iOS 15 since the first beta came out earlier this summer. My standard practice is to install any iOS beta on a couple different iPhones (an iPhone 11 Pro Max and iPhone 12 in this instance), occasionally referring back to a reference device like my wife’s iPhone just to confirm what’s different from the last iOS update. In recent weeks, I find myself borrowing my wife’s iOS 14-powered phone more frequently, as the many iOS 15 enhancements feel like they’ve always been there on my phone. That’s a sign of a successful upgrade.



iOS 15 isn’t a revolutionary upgrade — while the changes are many, there’s no radical rethinking of what you can and can’t do on an iPhone. But at this stage in the life of Apple’s smartphone business, it doesn’t need to be.

iOS 15 beefs up some built-in apps that needed retooling highlighted by changes to FaceTime and Maps, introduces some new welcome new capabilities like being able to store ID cards in Wallet and super-charges your iPhone’s on-device intelligence with new features like Visual Look Up and Live Text. Not all of these changes are fully polished, but when you download iOS 15, you should like what you see.



iOS 15 review: Availability and supported devices
iOS 15 has been available as a public beta since the end of June, but the software is now out as a download that anyone can install. Just head to the Settings app on your phone and tap General — from there, you can select Software Update, where iOS 15 will be there waiting for you, if you haven’t installed the update yet.

As for supported devices, if your phone runs iOS 14, you’ll be able to upgrade to iOS 15. That means anything from an iPhone 6s onward will work, including the original iPhone SE and the 7th gen iPod touch. iPads get their own version of the software, known as iPadOS 15.

Be aware that not every iOS 15 feature will work on older iPhones, with capabilities that require a lot of neural processing power only available on iPhones with at least an A12 Bionic processor. These include:

iPhone XR
iPhone XS and XS Max
iPhone 11
iPhone 11 Pro and iPhone Pro Max
iPhone SE (2020)
iPhone 12
iPhone 12 mini
iPhone 12 Pro and iPhone 12 Pro Max
iPhone 13
iPhone 13 mini
iPhone 13 Pro and iPhone 13 Pro Max
iOS 15 review: FaceTime improvements
iOS’s 15 revamp of the FadeTime video messaging app would go down as one of the most prominent changes in iOS 15, though the biggest addition isn’t available with iOS 15’s debut. That would be SharePlay, the much ballyhooed feature that lets you watch videos, listen to music and share your screen with everyone else on a FaceTime call. SharePlay won’t appear until a later update as Apple fine-tunes the capability that will be available across iPhones, iPads and Macs.

Don’t let SharePlay’s current omission trick you into thinking there’s nothing new under the FaceTime sun. iOS 15 introduces a number of changes aimed at making FaceTime a compelling alternative to Zoom, Microsoft Teams and all the other video messaging tools we’ve been using for the past 18 months

I’m not going to pretend that FaceTime has been high on my list of go-to video messaging apps, and that’s largely because I’ve found the app to be too cluttered for my taste, particularly for group calls. iOS 15 fixes that by giving you a grid view option that neatly stacks the faces of the people on a call instead of treating them as floating windows that resize depending on who’s talking.

Even better, FaceTime in iOS 15 lets you reap the benefit of spatial audio, at least if you’ve got an iPhone XR or later. With spatial audio, you’ll hear the voice of the person speaking emanating from the part of the screen where their square is located. It’s a seemingly small tweak, but it makes a world of difference in letting video calls feel more natural.

Those aren’t the only audio enhancements in FaceTime. The app also adopts new Voice Isolation and Wide Spectrum features — the former can filter out background noise on calls so that your voice is amplified while the latter can pick up all the ambient sounds around you. Even better, those features can be adopted by third-party apps, as can FaceTime’s newfound ability to introduce a background blur when you’re on camera.

One last addition to FaceTime will benefit people who don’t have an iPhone. Apple is extending FaceTime to Android and Windows, too, though with a browser-based interface and not a dedicated app. You can now schedule FaceTime calls by creating shareable links. And just in case you’re concerned that someone uninvited might crash your call, you not only have gatekeeper powers over who can enter a call, but you can also boot people out 30 seconds after they join if they turn out to be an imposter.

iOS 15 review: SharePlay anticipation
So what about SharePlay, a change so sweeping that it will also come to iPad, Mac and Apple TV software? When SharePlay arrives at a later date, you’ll able to stream audio or video on a FaceTime call, and it will play for the other people you’re FaceTiming with, with playback synced up so that everyone’s watching or listening at the same time. You can also share your iPhone screen via SharePlay.

Other video chat apps offer similar features, whether they’re built in or available as extensions, but Apple including the functionality within its own video messaging app is significant. And Apple clearly has high hopes for SharePlay, as it’s releasing a developer tool so that software makers can add compatibility to their apps to work with FaceTime once the feature comes via a future iOS 15 update. To that end, Apple promises that prominent streaming services like Disney Plus, Hulu, Paramount and others.

Before Apple removed SharePlay from iOS 15 betas, I tested the feature using Apple TV Plus, watching an episode of Ted Lasso with two of my Tom’s Guide colleagues. Each one of us could control playback from our various devices. I could even resize the video window to make it easier to view Ted Lasso’s antics while minimizing the FaceTime window, and then flip around the sizes when I wanted to see my colleagues’ reaction. When FaceTime arrives, you can also switch to text or audio chats, so the video playback is front and center.

In beta form, SharePlay did a pretty good job of dropping the audio of whatever it is you’re watching or listening to so that you can keep your conversation going. However, audio controls in SharePlay seemed to be universal — you can’t boost the volume of what you’re playing back without also increasing the volume on your FaceTime call, at least in my initial testing. Perhaps that’s something Apple is fine-tuning right now.

iOS 15 review: Focus mode
If FaceTime tackles Apple’s stated goal of keeping people connected with iOS 15, then the new Focus feature is front and center for the company’s plan to free us from distractions and time sucks. Think of Focus as a more refined version of Do Not Disturb, keeping out irrelevant notifications and even restricting your home screen to only the apps you need to access for the task at hand.

For example, you can set a Work focus that blocks out notifications from streaming apps and social networking tools; it can also restrict incoming messages from contacts you haven’t white-listed. To filter out distractions even further, you can designate a home screen that only displays your work-focused apps. (I’ve got mine set up to show off Slack, Gmail, Google Docs and a couple handy utilities, plus widgets for my reminders and calendar appointments.)

Other iOS 15 users will see your Focus status in Messages and, hopefully be less inclined to ping you (or at least know why you’re not as responsive as usual.) Third-party messaging apps have the option of displaying your Focus status as well — a feature I hope many of them pick up. What’s more, your Focus setting follows you from device to device, since iPadOS 15 and macOS Monterey support the feature, too.

Focus is easy enough to set up and turn on, which is half the battle. Focus lives in the Control Center, so you just swipe down from the upper corner of your iPhone screen (on the iPhone X or later) to set your focus. You can also turn off a focus by tapping on the icon that appears on your phone’s lock screen when you’ve got the feature enabled. We’ve largely talked about setting up a work focus, but Apple lets you customize and name whatever focus mode you want, whether it’s for gaming, family time, driving, sleeping or what have you.

My one criticism of Focus is that the home screen feature is a little bit limited. You don’t create a new home screen that only appears when you turn on a particular focus mode and fades into the background when you’re done. Instead, you select an existing home screen. This is actually contrary to how I organize my apps, where I put the most frequently used on one screen, whether they’re for work or personal use. Also, you can still access apps you’ve left out of your focus by swiping left until you reach the App Library, so it’s not as if I can’t launch PUBG Mobile when I really should be answering that email from the boss.

I mentioned that Focus setup is half the battle, but the other part of what determines whether the new feature will be a success is out of Apple’s control. For Focus to truly work, you’ve got to adapt your working habits, remembering to turn Focus modes on and off. This hasn’t really happened for me yet, though perhaps with IOS 15 out of beta, I’ll be more diligent about using the distraction-fighting tools Apple’s provided. Still, as promising as Focus is, don’t treat it like a silver bullet for immediately addressing your need to go distraction-free.

iOS 15 review: Notification changes
Apple’s attempts to do away with distractions don’t stop with Focus. The company is taking another stab at streamlining notifications in iOS 15. App icons on notifications are now larger, making them easier to spot at a glance so that you can determine if this notification is really worth your time; incoming messages will show the contact photo you’ve assigned to a person in the Contacts app.

You also have the option to temporarily mute notifications, either for an hour or a day. Just swipe left on the notifications to bring options, which now include your expanded choices for muting. iOS 15 is also smart enough to suggest you mute a conversation if you haven’t replied in a while.

The biggest change to notifications, though, is Apple’s new notifications summary, which you set up in the Notifications section of the Settings app. When setting up a summary, you can decide which app notifications you only need to see at select times of the day — those will then appear in on-screen summary at a time of your choosing, so you can skim through updates you may have missed without feeling bombarded throughout the day. I’ve found the summary to be a clever way to discover when new podcast episodes are available without having that info interrupt me during my work day.

iOS 15 review: Map improvements
Count me as one of the people who’s gotten over Apple’s stumble in moving away from Google Maps to its own mapping data nearly a decade ago in iOS 6. Maps has steadily improved, particularly in recent years, and I prefer it to Google Maps. It probably helps that I live near Apple HQ and therefore often get access to Maps improvements long before they roll out to other parts of the country.

Case in point with Maps in iOS 15: this new update adds more detailed 3D views of cities that include better landmarks, 3D buildings, clearly labeled commercial districts, more detailed roads and trees, with all that data collected from the vehicles Apple sends around to improve its master map. That feature is available in select cities, initially — San Francisco, Los Angeles, New York and London — before it hits other places. Having gazed at downtown San Francisco, with a detailed Oracle Park nestled against the San Francisco Bay, I can tell you it’s a look that really helps you get a sense of place when you explore in Maps.

At least everyone with an iPhone XR or later will be able to experience the new interactive globe that’s now visible in iOS 15. Zoom out and you’ll see a view of the earth from space, complete with an accurate star field. Zoom in and you’ll see other details — mountain ranges, deserts, ocean depths — that are clearly labeled, making it feel like you’ve got an interactive relief map stored on your phone.

A more practical addition to Maps is the app’s new 3D driving view that gives you a driver’s eye perspective on roads around complex interchanges. I took Maps for a spin around the MacArthur Maze, a series of interchanges, merge lanes and potential wrong turns in the East Bay, and Maps clearly showed me which lane I had to worry about and which ones were merely flyovers. (One complaint: In the beta at least, Maps was labeling the streets that are below overpasses but that have no exits — an unnecessary level of detail that I found mildly distracting. I’ll check to see if iOS 15’s full release has tweaked that feature on my next road trip.) Also helpful were 3D renderings of roadside buildings that helped orient me as to where I was on the road.

People who rely on public transit in major cities will appreciate that Maps now includes key bus routes. (That feature works in downtown San Francisco for me, for example, but not in my home city 14 miles away.) You can also pin your favorite transit lines to easily spy departure times.

The least fleshed out feature in iOS 15 is immersive walking directions, limited to the Bay Area when I was testing the feature. In theory, it’s a clever addition — Maps will superimpose arrows and street names when you’re walking to confirm you’re going in the right direction.

In practice, though, the feature is awkward to use. You first need to scan the surrounding area with your phone — drawing attention to yourself when you might already feel disoriented. The superimposed directions will then appear, but if you turn to head in that direction, they’ll only resurface when you turn tour phone to face across the street, 90 degrees from the direction you’re walking. At the same time, your iPhone will warn you of the dangers of looking at your phone screen while walking. All told, it’s a bit of a mess, unlike the other more polished additions to Maps.

iOS 15 review: Safari’s new Look (and how to get rid of it)
We can argue about what the biggest changes are in iOS 15, but there’s no question as to the most controversial addition. Safari in iOS 15 sports a new look inspired by Apple’s efforts to streamline the version of the browser in macOS Monterey. And I don’t think I’m going out on a limb when I say that this new approach is not going to be universally loved, especially when Apple has already introduced an option for rolling back some of Safari’s new look.

iOS 15 review: Should you upgrade?
Chances are you’re going to upgrade to iOS 15 no matter what I tell you. Apple has the stats showing how many people migrate to its OS updates, and it’s a percentage that puts Android to shame. So let’s assume you’re going to upgrade to iOS 15. The big question, as always, is when.

Recent major iOS updates have had their share of bugs, which can be impossible to predict. In my own experience, the iOS 15 beta was pretty stable. I’ve been using it on my everyday phone since mid-summer without any hiccups. The most persistant bug I noticed involved apps crashing when I launched them, requiring a relaunch. Annoying, sure, but hardly a show-stopper.

That’s not to say bigger bugs might be lurking, so the truly cautious may feel better by waiting to see if early adopters experience any problems upgrading or even utnil Apple releases the inevitable minor update in a week or so.

No matter when you upgrade, though, you’ll have plenty of new features to enjoy with iOS 15. It’s a welcome addition that will feel right at home on your iPhone.

SOURCE:https://brandspurng.com/2021/09/23/ios-15-review-a-better-iphone-experience/

Central Bank of Nigeria (CBN) is set to launch the e-naira, a Central Bank Digital Currency (CBDC) on October 1.

The director of Information Technology, Central Bank of Nigeria (CBN), Rukiya Mohammed discloed this to newsmen on Wednesday via webinar, themed “Digital currency and the prospects of CBDC in Nigeria”, organised by the committee of e-Business in industry Heads Nigeria (CeBIH).

Mohammed said that the use of digital payment was rising while cash payment was declining both in Nigeria and globally.

She said that over 85 per cent of Central Banks worldwide were considering digital currency and so CBN was also innovative to cope with global trends.

“CBDC would contribute to macro-economic growth in the country, if people adopt more of the usage of the e-naira, it would enhance more data to formulate macroeconomic policies.

“Also, when more countries have their own digital currencies, it would increase exchange of currency and be able to build cross border trade at a lower cost.

“Even though Nigeria has a good payment system, this would also improve Nigeria’s payments efficiency,“ she said.

She said the CBN has partnered with a lot of experts in digital currency technology providers such as MasterCard, came up with the design and would soon publish the design.

“CBN would focus on low amount payments at the introductory stage, instant settlement with low cost.

“CBDC would be legal tender with one e-naira equivalent to one naira which shows fundamental differences between CBDC and cryptocurrencies,” she said.

Also speaking, Dr Adesola Adedutan, Managing Director, First Bank Nigeria, said that the Central Bank of Nigeria CBDC was a game-changer that would provide an alternative payment system and would radically transform the payment landscape.

Adedutan, who was represented by the Banks deputy chief executive, Mr Francis Soba, said CBDC provides a platform for the government to leverage blockchain technology to maintain a centralized and institutional role over of the currency.

‘’It should be noted that there are significant differences between CBDCs and cryptocurrencies,” he said.

All You Need To Know About E-Naira
Below are things you should know about the nature of this innovation:

E-Naira is purely digital

The e-Naira would be a Central Bank Digital Currency (CBDC) which means that while it is regulated by the CBN, it is a token that would only exist in digital and electronic form.

E-Naira is universally transferable

The CBDC would be eligible for local and international transfers with little to no time lag and cheaper transaction fees than physical currencies. Also, it would allow you to transfer existing funds in your bank to your digital currency account.

E-Naira has a myriad of economic advantages

With the e-Naira, Nigerians can engage in easier cross-border trade, as well as enjoy a cheaper and faster inflow of remittances. Also, a digital currency would provide more financial opportunities for Nigerians as they would be able to create new business opportunities and financial products and services.

According to the CBN, another perk of the e-Naira is a reduction in the cost of operations and cash management. It would also leave a clearer footprint of digital transactions, making it easier for financial institutions to track transactions.

Financial Institutions would still be relevant

The digital currency would be implemented through a two-tiered model which would enable a structure that leaves room for public-private partnership. Just like the physical currency, the CBN will design the e-Naira but disseminate it through regulated financial institutions, which would then provide digital cash to individuals and businesses.

E-Naira not a Cryptocurrency

While all cryptocurrencies are digital currencies, it is important to note that not all digital currencies are cryptocurrencies. The e-Naira would be regulated by the Central Bank of Nigeria, but cryptocurrencies are not regulated by any government.

Implementation is on track

A recent development in the process of implementing digital currency is the selection of a technical fintech partner, Bitts Inc. After a thorough selection process, as prescribed by the Nigeria Public Procurement Act, Bitts Inc. emerged as a partner to the CBN for this innovative project.

Bitts Inc. prioritises the creation of payment systems that ensures an increase in social inclusion, financial inclusion and overall sustainable economic growth; the excellence in their operation methods has earned them acknowledgment from the Bretton Woods Institutions – IMF/World Bank. This is one of the reasons the CBN enlisted them for this crucial exercise.

Also, the company was the first fintech to digitize a national currency on a blockchain by creating a synthetic CBDC with the support of the Governor, Central Bank of Barbados and the country’s Minister of Finance.

As Nigeria counts down to her 61st Independence Day celebration, citizens can look forward to the start of a digital era where the CBN prioritises making financial operations more citizen-centric.

SOURCE:https://brandspurng.com/2021/09/23/cbn-set-to-launch-e-naira-october-2021/

The UK government has pledged that its Manufacturing Africa Initiative will be scaling up support for Metro Africa Xpress (MAX), a tech-enabled company, to assemble electric vehicles in Nigeria.

Ms Catriona Laing, the British High Commissioner to Nigeria said during a courtesy visit to MAX in Lekki, Lagos that the UK government was delighted to scale up support for MAX because of the company’s brilliant innovation and solutions..

Manufacturing Africa is a project which seeks to promote industrialization in East and West Africa by attracting £1.2 billion in foreign direct investment and creating 90,000 jobs by 2026.

Manufacturing Africa is supporting MAX’s ambitions by helping it raise the funds for the assembly of electric vehicles.

Laing said “It is amazing to see young minds come up with solutions to real problems that can help us tackle the challenges faced with climate change.

UK To Support Nigerian Startup To Assemble Electric Vehicles
“The company is also doing a great job of providing two, three, and four-wheel vehicles for commercial drivers and health insurance.”.

Laing noted that the commission was looking forward to see the innovation rolled out across Africa and also in the UK.

Also speaking, Mr. Adetayo Bamiduro, Chief Executive Officer of MAX, who commended the UK government for its support, said the company was excited about unlocking networks and relationships required to drive the adoption of manufacturing electric vehicles in Nigeria.

He noted that when the company started, its first mission was to solve challenges around last mile transportation in Sub Sahara Africa.

Bamiduro said that some years into the company’s work, they realised that there was way too much gas emission in Africa and the idea of manufacturing Electric vehicles was born.

“We have successfully designed the first Africa-ready electric motorcycle called the MAX M3.

“At MAX, we are excited about our projects and the two to three years partnership we have with Manufacture Africa,” he said.

According to Bamiduro, greenhouse gas emissions will hit 2.3 Gigaton in Africa mobility by 2030 if electric vehicles adoption does not take off.

SOURCE:https://brandspurng.com/2021/09/22/uk-to-support-nigerian-startup-to-assemble-electric-vehicles/

Providus Bank PLC, and Travelport Nigeria, have restated their commitments to ensuring the success and hassle-free operations of the highly innovative best-in-class online travel agency, TravelTank.

Speaking at the launch of the proudly Nigerian online travel agency, Managing Director, Providus Bank, Walter Akpani, said: “Today we are witnessing the launch of a product that we believe is going to change a whole lot in how travel business is done in Nigeria and I am happy to say that I am proud to be here as a partner. I strongly believe that TravelTank’s innovative products will support and assist us all in how we plan and book our travels.”

He continued: “For us, as a bank, we believe in entrepreneurship. TravelTank and its founder are examples of what we believe in and why as an institution the bank is willing and ready to support young entrepreneurial minds in the country. As Mr Yemi Smith is a young entrepreneur, we know we have many more like him in this country and you can rest assured that Providus bank is here to support you.”

Providus Bank, Travelport Pledge To Support TravelTank

According to the Managing Director, TravelTank, Yemi Smith, the company was launched with a vision to provide travel opportunities for everyone and a mission in making travel planning and booking quick, easy, and affordable for everyone.

“TravelTank is a product of exhaustive research on a sector which showed very clearly that even with the array of online travel agencies in Nigeria, end-users still had reservations in purchasing online travel products,” he added.

Country Head, Travelport Nigeria, Samuel Akinola, described TravelTank as an innovative disruptor in the travel space whose product offerings are unmatched in Nigeria. He also noted that Travelport Nigeria will go the extra mile to support TravelTank.

Buttressing on TravelTank’s smart offerings set to be presented in a highly competitive industry, Managing Director, TravelTank, Yemi Smith submitted: “As a company, and by God’s grace, we foresee strong growth especially on our B2B platform which allows TravelTank affiliates to sell travel products in a more personalised manner.”

He stated further: “You know initially when the world was hit by the pandemic, demand for travel halted. Thankfully, we are now seeing a gradual month-on-month increase in the demand for travel products and travel in general.

“This coupled with the multiple approved vaccines now available in many countries around the world including Nigeria, makes us more positive for the future. Testament to this is the lessening of travel restrictions around the world. This makes us very excited as we begin our quest in creating travel opportunities for everyone.”

SOURCE:https://brandspurng.com/2021/09/21/providus-bank-travelport-pledge-to-support-traveltank/

The Sustainable Energy Fund for Africa (SEFA) has approved a $1 million grant for the modernization of Africa’s aging hydropower fleet.

The grant will fund the mapping and evaluation of African hydropower facilities’ rehabilitation needs. It will also support the preparation of modernization works for two pilot facilities to a bankable stage, a move expected to add 200 MW in generation capacity, create 150 jobs and reduce greenhouse gas emissions by about 300 kilotons of CO2 annually.

The modernization of hydropower stations is an opportunity to increase generation capacity at low-cost, and with relatively short lead times and minimal environmental impact.

Modern hydropower plays a key role in Africa’s energy transition, reducing reliance on fossil fuels and anchoring larger shares of Variable Renewable Energy sources. This transformative program under SEFA’s Green Baseload component will specifically capitalize on the significant market opportunity for rehabilitation of Africa’s existing hydropower plants, said Dr. Daniel Schroth, Acting Director for Renewable Energy and Energy Efficiency at the African Development Bank.

The African Development Bank manages SEFA. The project is fully aligned with the Bank’s New Deal on Energy for Africa, which aims to provide universal access to energy for Africans and prioritizes low-carbon technologies that harness the continent’s hydro, solar, geothermal and wind resources.

The program will be implemented in partnership with the International Hydropower Association(link is external) (IHA), which has participated in similar initiatives in Asia and South America. Alex Campbell, IHA’s Head of Research and Policy said, “We are delighted to support the African Development Bank in this important and urgent project to modernize Africa’s hydropower fleet.”

SOURCE:https://brandspurng.com/2021/09/20/afdb-sefa-approves-1-million-to-commence-modernization-of-africas-hydropower-fleet/

Standard Chartered has launched the Smart Business Loan (SBL) product for Small and medium-sized enterprises (SMEs) customers in Nigeria.

SBL is an unsecured instalment/term loan to Business Banking clients within key target sectors. Qualified Business Banking Clients will be able to access up to N20 million loan without providing tangible security/collateral to purchase asset, finance business expansion and other capital expenditure needs.

The bank in a statement on Sunday, said this loan is designed to help SMEs meet its short to medium term needs. Speaking on the product, head of Consumer, Private and Business Banking (CPBB), Nigeria, David Idoru, said, “As a Bank, our purpose is to drive commerce and prosperity in the locations we operate in. This is done through offering cash, lending, trade and wealth management solutions that specifically drive economic growth.

“Within our CPBB, the promotion of commerce is largely done through our Business Banking segment by banking Small and Medium sized enterprises. We are constantly looking for ways to ensure our clients get access to the needed support to enable their businesses thrive and SBL provides the necessary flexibility for Business growth.”
He added that prior to the launch of the product, clients were required to provide full collateral cover to access loans from the Bank’s Business Banking segment however SBL provides the necessary flexibility to our clients.

It is accessible to new and existing clients of the Bank with no waiting period, including Small and Medium Scale organisations, and they can access up to N20 million in loans without collateral for a maximum tenure of two years.

SOURCE:https://brandspurng.com/2021/09/20/standard-chartered-launches-loan-for-smes/

WHO Director-General Tedros Adhanom Ghebreyesus recognizes Mr Brown as a leader who can shape and drive a future of robust, equitable investment in global public health Â
The World Health Organization today announced the appointment of The Rt Hon Gordon Brown, former Prime Minister of the United Kingdom, as WHO Ambassador for Global Health Financing. Mr Brown is widely credited with preventing a second Great Depression through his stewardship of the 2009 London G20 summit. He mobilized world leaders to commit an additional $1.1 trillion to restore credit, growth and jobs to help the world economy through the global financial crisis.

More recently, Mr Brown has tirelessly called on wealthy nations as well as the private sector to ensure the equitable distribution of COVID-19 vaccines, advocating for a concerted global effort — rooted in science and sound economics – to save lives, end the pandemic and restore livelihoods the world over.

Dr Tedros Adhanom Ghebreyesus, WHO Director-General, hailed Mr Brown as a champion for galvanizing the world’s major economies to protect health and prevent future disease outbreaks.

Dr Tedros said: “I am delighted and honoured that Gordon Brown has agreed to serve as WHO Ambassador for Global Health Financing. In this role, he will elevate and support WHO’s work to raise awareness internationally on the great need for sustained global health financing, particularly from G20 and G7 countries. As a longtime friend of Gordon’s, I know that he will bring his sharp intellect, firm commitment and deep sense of justice to this Ambassadorship.”

Mr Brown said: “I have a tremendous personal regard for Dr Tedros with whom I first worked two decades ago, and I am delighted to be able to help his and WHO’s work raising global finance to ensure everyone has access to health. Our immediate task is to work together to finance the vaccination of the whole world and protect the poorest countries from the terrible effects of COVID-19 and other diseases. ”

Gordon Brown Biography
Gordon Brown is the United Nations Special Envoy for Global Education and former Prime Minister of the United Kingdom.

He served as Prime Minister of the United Kingdom from 2007 to 2010 and is widely credited with preventing a second Great Depression through his stewardship of the 2009 London G20 summit. He was one of the first leaders during the global crisis to initiate calls for global financial action, while introducing a range of rescue measures in the UK. In April 2009, he hosted the G20 Summit in London where world leaders committed to make an additional $1.1 trillion available to help the world economy through the crisis and restore credit, growth and jobs. They also pledged to strengthen financial supervision and regulation.

Previously, he served as Chancellor of the Exchequer from 1997 to 2007, making him the longest-serving Chancellor in modern history. During ten years at the Treasury, Gordon’s achievements included the Minimum Wage, Sure Start, the Winter Fuel Allowance, the Child Trust Fund, the Child Tax Credit and paid paternity leave. His record on global justice includes his negotiation of debt cancellation for the world’s poorest nations and the tripling of the budget for life-saving aid. His time as Chancellor was also marked by major reform of Britain’s monetary and fiscal policy as well as the sustained investment in health, education and overseas aid.

His role in government continued to shape his views on the importance of education as a fundamental right of every child in the world and the key to unlocking better health, greater social stability, more rights and opportunities for women and a higher standard of living. He is a passionate advocate for global action to ensure education for all. In his role as UN Special Envoy for Global Education, he works closely with key partners to help galvanise support for global education investment and the use of innovative financing to reach the UN’s global goals. He is Chair of the High Level Steering Group for Education Cannot Wait, the fund for education in emergencies; Chair of the Inquiry on Protecting Children in Conflict; and Chair of the International Commission on Financing Global Education Opportunity.

He recently played a key role leading a group of 275 former world leaders, economists and educationalists calling for international action to prevent the global health crisis creating a “COVID generation” – tens of millions of children with no hope of an education.

In addition to his global education work Gordon is an advisor to the Graça Machel Trust, Chair of the Advisory Board at the Catalyst Trust for Universal Education, a Senior Panel Member at the Kofi Annan Foundation initiative on Electoral Integrity, and he is also an Honorary Fellow of the Royal Society of Edinburgh.

Within the United Kingdom, Gordon is also the founder of Our Scottish Future, and the Alliance for Full Employment.

Gordon is the author of several books including Beyond the Crash: Overcoming the First Crisis of Globalisation, My Scotland, Our Britain and My Life, Our Times and most recently, Seven Ways to Change the World (Simon & Schuster, June 2021).

Gordon has a PhD in History from the University of Edinburgh and spent his early career working as a lecturer and in television production. He has been awarded several honorary doctorates, most recently Doctor of the University from The Open University.

He is married to Sarah Brown, the Chair of Theirworld and Executive Chair of the Global Business Coalition for Education, and the couple live in Fife, Scotland with their two sons, John and Fraser.

SOURCE:https://brandspurng.com/2021/09/19/who-appoints-gordon-brown-ambassador-for-global-health-financing/

Brand Spur Nigeria reports that Gulder Ultimate Search (GUS) would be returning to our screen and while Nigerian breweries have done a good job of bringing back one of the most favorite shows in Nigeria, there are issues that should be considered before they move forward with the show.

The Gulder Ultimate Search appeals to the human need for adventure, however, there are concerns on whether this is the right time for the show due to the rate of Banditry and Kidnapping in Nigeria.

The Gulder the Ultimate story of man’s quest for a hidden item or treasure resonates with the ability of humans to hunt for a better life and even works better in the context of Nigerians working twice as hard to get that better life they are currently hunting for.

The show is therefore going to be of interest to Nigerians especially the older generations who enjoyed the previous editions while it was held. It would also resonate with the younger generation who watched it while growing up and understand the power of hunting until you find what you desire or need.

The brand Gulder over the years has been trying to resonate with the younger generation while failing to build the right opportunities to connect better with other generations. The category Gulder finds itself in, happens to be one that strives on sales volume, and while building connections with the young generation is important, what is of utmost importance is not losing the core of the brand and what it stands for.

Gulder Ultimate Search does not just use the power of nostalgia to attract people, the show would help the brand reinforce it’s core positioning and also help build a mental association with Nigerians through the use of Gulder Ultimate Search as one of the distinctive assets of Gulder.

Gulder Ultimate Search Returns Amidst High Rate Of Banditry In Nigeria
The question, however, is have the organizers considered the rise of Banditry and kidnapping in their SWOT analysis, have they thought well about the use of forests, do they intend to use an alternative place instead or would they be providing security while the shows last? Have they mapped various possibilities and issues that might cause problems for the show and designed solutions to counter such problems?

The analysis of Banditry and kidnapping as threats is very vital as bandits and kidnappers are skilled at turning forest and unhabitable places as hideouts to carry out their operations and Gulder definitely wouldn’t want to become a victim of their ransom payment and not would the participants enjoy being guests living in Kidnappers’ Den. It is therefore important that critical factors that would make the show go on successful be analyzed.

The implications of Gulder not thoroughly looking at scenarios and planning for them would be disastrous to Gulder as a brand and Ultimate Search as a Show if anything negative happens, it is therefore a strategic imperative for them to identify key problem areas and solve them before the show starts.

SOURCE:https://brandspurng.com/2021/09/18/https-wp-me-s8raym-99925/

Nobody wants to be financially poor however there are factors that might hinder your financial liberation and send you down the poverty hole you are trying to avoid, while some of these might probably be out of our control, there are factors that if well managed might help out financial stability.

According to the research conducted by Brand Spur, there are so many ways to go broke in Nigeria and I will be highlighting 5 ways to go broke in Nigeria. The ways down the financial instability hole include:

The Black tax trap: As we know that the Nigerian Society is a collectivist society where the “We” behavior dominates and one is expected to take care of his or her relatives if one is seen to be financially stable in relations to other members of the family. Also, Africans attach importance to children taking care of their parents fully when the kids come of age, this thinking while it has its advantages, has also led to great dependence on one’s children as a form of retirement plan.

Money Matters: 5 Weird Ways To Go Broke As A Nigerian
This dependence by family including parents has its negative effect if you are not as financially buoyant as perceived. A recommendation is to strictly have money set aside for black tax, once expenses is beyond the money set aside except on emergency occasions, do not consider giving further money. You don’t want to be left with anything for yourself and your plans.

Lavish lifestyle: There are people who live beyond their means and lavish all their earnings on temporary enjoyment. While it is important to always find ways to enjoy what life has to offer, it also vital for me to have investment, savings and a good financial plan or budget that keeps one in check especially if you have a lavish lifestyle habits that can make you financially unstable.

Borrowing Habits: Learn to find it hard to borrow money from people. The reason is that being in financial debt especially when it is not for a useful initiative like starting a low-risk business would cost or rob you the money you should invest, save up or use for important things. Borrowing makes you short of more cash that could be used to help stay financially stable.

Poor Financial Management: Budgeting helps you to manage finances and forces you to choose only what is considered important at that moment in time. It is good to always have a budget of what you intend to use the money to do. It is also important to have an investment, savings, and emergency fund plan that enables you to avoid debt while planning for the future.

Impulse buying: Impulse buying can be dangerous if it becomes a habit and it can render you unstable financially if care is not taken. It is, therefore, vital that one sticks to a monthly budget in order to avoid the recklessness that comes with impulse buying not regulated.

These are 5 ways you can easily go broke in Nigeria. You don’t want to be among those who fail to plan, even when all does not go according to plan, planning helps focus on what is necessary and what to avoid in order to stay financially stable.

SOURCE:https://brandspurng.com/2021/09/18/5-ways-to-go-broke-as-a-nigerian/

If you are a manufacturing company especially in the fast-moving consumable goods (FMCG) industry, a strong distribution network is needed which includes a strong retailing relationship and network-building tactics.

However, having a strong distribution network is only one part of the advantage that companies especially FMCG can leverage.

They can also leverage data that can be obtained from the network to develop customer retention strategies, new product development and improve on their current product offerings.

These three important data are activity, observation, and sales data. Each type of data is important in the kind of role they play. Smart marketers use the three Data to get a clearer picture of what actions need to be taken, how their products are sold and displayed in certain places.

Three Data Every Company With Big Distribution Network Should Find Vital

For the activities data you want to measure the following: visit frequency, total territory, coverage, time in-store. The purpose of activity data is to have knowledge about the number of activities going on across the lines of brand promotion, merchandising shelf activities, total in-store footprint, chain penetration, and number of in-store sampling events. All these are needed to have a record of the ongoing initiatives and how effective they are, it also needs to compare the activities of the brand against their major competitors and alternative products.

Observation Data: This deals with the in-store presence and the observation of how the products are positioned, promoted, and packaged. Therefore, analyzing the in-store presence includes what are the stock levels, number of facings, active promotions currently going on, etc. All these are important and comparing them with competitors gives a better picture of what actions to take.

The combination of photos, structured data, and notes from brand representatives allows to paint a better picture of what’s happening in each store so that they can learn from it and improve.

Sales Data: These is considered as the most important thereby allowing brand managers at times to neglect the other two, negligence has its own price which includes the lack of 360-degree vision into a brand problem or marketing challenge.

Do sales data involve the number of each SKU (stock keeping unit) sold within a given period? Brands want to know how their products fare at the point of sales, as these allows them to think about the directions to take next, whether it is brand activities, deepening penetration or rewarding buyers, and so on.

The sales data while probably being the most vital should be combined with observation and activity data to get a clear picture on what the next action plan would be in regards to the current context, the distributors and the competition. As we know the game of strong distribution involves knowing and choosing the breadth and depth your distribution channels should carry.

SOURCE:https://brandspurng.com/2021/09/18/https-wp-me-p8raym-pzd/

The World Health Organization (WHO) has reiterated its continuous support to the Government of Nigeria in its goal of achieving self-sufficiency in the local production of traditional medicine.

Speaking at the commemoration of the 2021 Traditional Medicine Day held at the Federal Ministry of Health in Abuja on 13 September, Dr. Kofi Boateng said WHO remains committed to continuing with the support to the Government of Nigeria in its goal of achieving self-sufficiency in the local production of pharmaceuticals (including Vaccines), traditional medicine and other health products.

Emphasizing the importance of African Traditional Medicine in the development of the health sector, Dr Boateng, representing the WHO Country Representative, Dr Walter Kazadi Mulombo said that Africa has a long history of traditional medicines and practitioners that play an important role in providing care to populations over centuries.

The theme of 2021 commemoration is “The potential contribution of Traditional Medicine to COVID-19 Response.” Dr Boateng said Nigeria’s listing of 14 herbal medicinal products by NAFDAC against COVID-19 and ongoing clinical trials on them, is in line with the Regional Expert Committee on COVID-19 aim of elevating the standards of clinical trials of traditional medicine for COVID-19.

“The ongoing scientific research projects in the National Institute for Pharmaceutical Research & Development and other higher institutions, highlights the interest of the Government of Nigeria to develop and promote African Traditional Medicines. These are in line with the theme of this year commemoration; The potential contribution of Traditional Medicine to COVID-19 Response.

WHO Nigeria has taken it up to support the ministry and in particular the department of Traditional, Complementary and Alternative Medicines, Complimentary in the review of the Traditional Medicines Policy 2007, review of the Nigeria Pharmacopoeia 2008 and the development of a 5-year strategic plan to implement the new policy and the revised pharmacopeia.

It will also continue to provide technical assistance to the TCAM department, National Institute of Pharmaceutical Research and Development (NIPRD) and NAFDAC in improving the quality of medicinal products and ensure the listing of these products in the National Essential Medicines List, he said

Meanwhile, the Minister of State for Health Dr Adeleke Mamora at the media briefing said the Federal government will not relent in its efforts to develop local content as a means to finding a homegrown solution to ailment affecting Nigerians.

Dr Mamora said one of the tasks assigned to the National Institute for Pharmaceutical Research & Development (NIPRD)and the National Agency for Food and Drug Administration & Control(NAFDAC) is to scale up their activities towards the search for a local solution to the pandemic.

He further stated that “FMoH has inaugurated an expert committee as a protocol of evaluation of herbal medicinal products as a way of promoting research and a database of traditional medicine practitioners has been developed for ease of collaboration, research and promotion of traditional medicine in Nigeria.”

“The federal government is also working on a traditional medicine policy and a committee to set up a traditional medicine institute which was triggered by the COVID-19 pandemic.”

SOURCE:https://brandspurng.com/2021/09/17/https-wp-me-p8raym-pz6/

The Debt Management Office has disclosed that Nigeria is back in the International Capital Market after about three years with a plan to raise at least $3bn from Eurobond issuance.

This was contained in a statement titled ‘Nigeria back at International Capital Market with Eurobond offer’ issued by the DMO’s spokesperson, Chinenye Onu, on Thursday.

The statement read, “The Federal Government of Nigeria has announced plans for a Eurobond issuance in the International Capital Market.

“The last time Nigeria accessed the ICM was November 2018.”

The statement further disclosed that there would be virtual meetings with investors on September 17 and 20, adding that the meetings are open to local investors for the first time.

“Virtual meetings with investors have been scheduled for September 17 and September 20,2021.

“In order to avail local investors the opportunity to invest in the Eurobonds, meetings will also be held with local investors.

“This is the first time local investors will be included in the roadshows, and this is one of the reasons why a Nigerian Book runner (Chapel Hill Denham Advisory Services Ltd) was appointed as one of the transaction advisers,” it stated.

FG Woos Local Investors, Opens $3bn Eurobond Borrowing Plan

It further stated, “Through the Eurobond issuance, Nigeria is expected to raise up to $3bn but no more than $6.2bn.

“The issuance for which all statutory approvals have been received, is for the purpose of implementing the New External Borrowing in the 2021 Appropriation Act.

“Proceeds are for the financing of various projects in the Act.”

The statement disclosed that beyond providing funding to part-finance the deficit in the 2021 Appropriation Act, the issuance of Eurobonds would help to increase external reserves and support the naira exchange rate and Nigeria’s sovereign rating as well as free up space in the domestic market for the private sector and sub-national borrowers.

It added that the issuance of Eurobonds by Nigeria had opened up opportunities for Nigeria’s corporate sector notably banks, to issue Eurobonds to raise capital in the ICM.

By so doing, their capital base had been strengthened to provide banking services whilst also meeting regulatory requirements, the statement said.

The PUNCH earlier reported that the Federal Government had appointed transaction advisers to facilitate the issuance of Eurobonds in the international capital market.

The transaction advisers appointed by Nigeria for the issuance included JP Morgan, Citigroup Global Markets Limited, Standard Chartered Bank, Goldman Sachs, Chapel Hill Denham Advisory Services Ltd, FSDH Merchant Bank Ltd, White & Case LLP, and Banwo & Ighodalo.

SOURCE:https://brandspurng.com/2021/09/17/https-wp-me-p8raym-pyo/

Nigeria's total public debt stock rose from N33.11tn as of March 31, 2021, to N35.47tn as of June 30, 2021.

The Director-General of the Debt Management Office, Patience Oniha, provided a breakdown of the public debt stock for the second quarter of 2021 during a virtual media presentation on Wednesday.

The total external debt stock rose from N12.47tn as of March 31 to N13.71tn as of June 30, indicating an increase of N1.24tn or 9.94 per cent.

The total domestic debt stock rose from N20.64tn as of March 31 to N21.75tn as of June 30, indicating an increase of N1.11tn or 5.38 per cent.

At the end of Q2 2021, external debt stock made up 38.66 per cent while domestic debt stock made up 61.34 per cent of the total public debt stock.

The debt to Gross Domestic Product ratio rose from 21.13 per cent to 21.92 per cent within the second quarter.

At the end of the second quarter, a breakdown of external debt stock showed that multilateral debt (from World Bank Group and African Development Group) led the list of Nigeria’s creditors with a share of 54.88 per cent.

The second highest was commercial debt (from Eurobonds and Diaspora Bonds) with a share of 31.88 per cent.

It was followed by bilateral debts (from China, France, Japan, India and Germany) with a share of 12.70 per cent.

Promissory Notes had a share of 0.54 per cent.

The DMO boss stated that the debt stock was fast-growing, with a high debt service to revenue ratio, alongside issues around the use of debt proceeds.

The DMO blamed the public debt issues on high infrastructure deficit, recession, consecutive budget deficits, low revenue base, worsened by the country’s reliance on a single source of income – crude oil.

Nigeria’s Debt Rises To N35.47 Trillion With Three Months

Promissory Notes had a share of 0.54 per cent.

The DMO boss stated that the debt stock was fast-growing, with a high debt service to revenue ratio, alongside issues around the use of debt proceeds.

The DMO blamed the public debt issues on high infrastructure deficit, recession, consecutive budget deficits, low revenue base, worsened by the country’s reliance on a single source of income – crude oil.

Nigeria’s Debt Rises To N35.47 Trillion With Three Months

She, however, admitted that the limit placed on Federal Government borrowing from the apex bank had been violated due to revenue shortfalls and spending that government had to make.

The DMO boss disclosed that a plan was ongoing to restructure the debt taken from the CBN in order to include it in the public debt stock.

SOURCE:https://brandspurng.com/2021/09/16/nigerias-debt-rises-to-n35-47-trillion/

Collaboration to leverage the power of ICT including 5G for Industry 4.0 (IR 4.0), connecting the unconnected and transforming lives; Both organizations reiterate commitment to shape policy, develop talent, and promote inclusion and diversity in Africa.


Nokia has signed a Memorandum of Understanding (MoU) with the African Telecommunications Union (ATU) to drive digital transformation and the knowledge economy for socio-economic development across the continent.

The two parties will leverage the power of telecommunications, including 5G networks, to connect the unconnected and identify innovative use cases, as well as business models.

In addition, the MoU will lay the ground for both organizations to better help governments shape telecom policy, develop talent and promote inclusion and diversity. This includes women, as well as the underprivileged in both rural and urban areas.

The MoU was signed in Nairobi, Kenya, by John OMO, Secretary-General at ATU, and Rajiv Aggarwal, Nokia Representative and Head of Central, East and West Africa Market Unit at Nokia.

Announcing the partnership, Rajiv Aggarwal, Head of Central, East and West Africa Market Unit at Nokia, said: “We remain keen on supporting Africa’s digital transformation journey and by collaborating with the ATU, we strengthen this commitment. We will leverage our global technology expertise and insights on policy matters to positively impact the universal socio-economic development in the continent.”

Co-signing the MoU with Mr. Rajiv, John OMO, Secretary General of the African Telecommunications Union (ATU), said: “Our vision is to make Africa a full and active participant in the global information and knowledge society by enabling universal access to ICT systems and services across Africa. Collaboration with a global industry leader such as Nokia is therefore crucial in this regard and will help us accelerate towards a digital transformation and knowledge economy.”

The MoU framework is guided by six tenets designed to facilitate this acceleration. These are:

Sharing of best practices on telecom technology trends and developments
Identification of innovative industrial use cases toward the Fourth Industrial Revolution
Recommendation on implementation of emerging technologies and business models
Promotion of connecting the unconnected with broadband
Development of emerging talent for digital innovation
Promotion of inclusion and diversity

Nokia has a long history of collaboration with international organizations and bodies across the globe. Regionally in MEA, Nokia recently partnered with UN Women to promote inclusion and diversity in Middle East and Africa. Nokia is also working with UNICEF as part of a shared-value partnership in Kenya to connect schools with broadband and empower children in rural as well as disadvantaged urban areas. In November 2020, Nokia supported the Forge Academy in South-Africa with the launch of a fully inclusive artificial intelligence (AI) laboratory to help students to become entrepreneurs in the Fourth Industrial Revolution and the global digital economy.

SOURCE:https://brandspurng.com/2021/09/16/nokia-and-atu-to-speed-up-digital-transformation-in-africa/

Rite Foods Bigi brand is fully prepared to power the Abeokuta marathon as the headline sponsor of the10 km race scheduled to hold on November 13, 2021.

The international event, specifically for Nigerians within the country and in the diaspora will start from Oba Alake’s palace and end at the M.K.O Abiola International Stadium, Abeokuta. It will have five water points at the 2.5km, 5km, 7.5km, and the finishing area, likewise two refreshing points along the route.

Speaking on the sponsorship, the Brand Manager of Rite Foods, Boluwatife Adedugbe, at a press conference held in Abeokuta on Tuesday, September 14, 2021, stated that the company is ready for the big sporting event. Also in attendance were the State’s Commissioner for Youth and Sports, Dr. Kehinde Oluwadare, the Managing Director and Chief Executive Officer of Nilayo Sports Management Limited, Mr. Bukola Olopade, the organizers of the tournament, the General Manager of the event, Dr. Yusuf Alli, the Project Manager, Mr. Seyi Johnson, and other stakeholders.

Adedugbe said this year’s edition would be different because it will serve as a platform for promoting Nigerian talents that would make the nation proud at the international level. She stated that since consumers are at the core of the Bigi brand, sponsoring a worthy initiative like the Abeokuta marathon shows Rite Foods care about their wellbeing.

“The Bigi Table water will be available at all water points to rejuvenate our runners. As we market our products, we have to demonstrate the Bigi brands’ closeness to them; hence Bigi is sponsoring the competition,” the Brand Manager stated.

She added that the brand was the refreshing sponsor in 2019 and has taken the step further as the title sponsor for this year’s event.

Eulogizing the market leader, the Ogun State Commissioner for Youths and Sports expressed Governor Dapo Abiodun’s goodwill message of commendation to Rite Foods, applauding its gesture of nurturing skills in athletics.

He said Ogun State government is proud to identify with the sponsors, especially Rite Foods, in creating a platform of social value that would not only build talents but also youth engagement.

“The race will not only discover budding talents but will develop them to greatness, as it is another golden opportunity for youths to engrave their names on the world map,” the Commissioner affirmed.

On his part, the organizer, Mr. Bukola Olopade, extolled Rite Foods’ Bigi for promoting a Nigerian cause and urged other organizations to follow suit.

The former Commissioner for Youths and Sports in Ogun State said the winning prize for the elite category would be $2,000, while the first runner-up and second runner-up will receive $1,500 and $1,000, respectively.

In the special category, the overall winner will go home with N500,000, while the first runner-up and second runner-up will receive N300,000 and N100,000, respectively.

SOURCE:https://brandspurng.com/2021/09/16/rite-foods-power-abeokuta-10km-marathon/

Konga, Nigeria’s leading composite e-commerce giant, has been hailed by the Minister of Youths and Sports Development, Hon. Sunday Dare is a digital platform with immense capacity to help re-write Nigeria’s unemployment narrative.

He made this known during the signing of a landmark partnership between Konga and the Ministry aimed at generating creative employment for millions of Nigerian youths.

A Memorandum of Understanding (MoU) to seal the partnership was signed on Monday, September 13, 2021 in Abuja, the Federal Capital Territory (FCT).

The initiative was unveiled under Konga Jobs (KJ), a youth empowerment and job creation scheme of the Konga Group. Specifically, the partnership will see Konga deploy its world-class assets, huge resources and cutting-edge technology backbone, while also placing its growing list of thriving subsidiaries across multiple verticals at the disposal of Nigerian youths who are desirous of an opportunity to earn a meaningful living and create wealth. Konga says the scheme is targeted at the employed, unemployed and under-employed Nigerian youths across board.

Present during the signing ceremony was the Minister, Hon. Sunday Dare; the Permanent Secretary, Ministry of Youths and Sports, Mr. Nebeolisa Anako; Chairman, Konga Group, Leo Stan Ekeh; Co-CEO, Konga Group, Nick Imudia; VP, KongaPay, Isa Aliyushata, as well as other Management staff of Konga and senior officials of the Ministry.

‘‘We at the Ministry of Youths and Sports are of the view that public-private partnerships remain the way forward when it comes to the onerous task of creating opportunities for our youths. This belief has come to the fore with the advent of the COVID-19 pandemic and has also been reinforced by a recent World Bank report.

‘‘We are delighted to have a technology-driven partner such as Konga partnering with us on this programme. Also, we are confident that through this MoU which we have signed today, we will be re-writing the narrative for millions of Nigerian youths who are the beneficiaries of this project.’’

While lauding the Ministry for its proactive zeal in closing the partnership, Mr. Ekeh noted that since its acquisition nearly three years ago, Konga, which pioneered the martketplace structure in Africa in addition to a long list of innovative strategies, has grown immensely beyond expectations of all e-commerce watchers, with the company becoming arguably Africa’s biggest Composite e-commerce platform and the first to hit profitability on the continent.

‘‘Konga is driven by youths. This shows our youths have the capacity to deliver world-class corporates, even with all structural challenges confronting us in the country.’’

Ekeh added that the time is right for Nigerian youths to use their intellectual capital and digital skills to defend the nation and become global citizens. He encouraged Nigerian youths to alter their destinies, while also stressing that their passion in this century must pay their bills.

Also speaking at the event, Imudia, Co-CEO, Konga Group, affirmed that the partnership will afford Konga a chance to create millionaires across Nigeria within a short space of time.

‘‘Konga today provides employment directly and indirectly through partnerships for over 250,000 Nigerians. Through this partnership, we are looking to not only offer more hardworking and ambitious Nigerian youths a chance to earn good money and create wealth; we are also keen to create millionaires who will become their own bosses and employ others. In addition to opportunities which abound in joining our fast growing database of Konga affiliates and merchants, many more deserving and outstanding youths will also get job opportunities across the multiple entities within the Konga Group.

‘‘We are currently conducting a pilot with the Ministry of Youths and Sports and have taken on board about 350 youths already, many of whom are doing very well. The plan is to have at least one Konga agent in every kindred in Nigeria. But it is pertinent to state that we are also extending our reach across Africa in line with our expansion plans as our target by 2025 is to create jobs for over 500,000 Nigerian youths and over 500,000 for other African youths.

‘‘This is the only way we can rate our success on the African Continent,’’ he disclosed.

The event, which was held within the Ministry’s conference room at the Moshood Abiola National Stadium, also witnessed a tour of the massive facilities within the premises.

SOURCE:https://brandspurng.com/2021/09/15/99703/

The 2021 Gerety Awards agency of the year is Cossette and Network of the year goes to McCann Worldgroup.

The Gerety Awards, the only creative prize to reward the best in advertising from the female vision, today revealed the winning work that earned the program’s top honors for its 2021 competition

“We’re thrilled to be named Agency of the Year at this year’s Gerety Awards,” says Peter Ignazi, Global Chief Creative Officer at Cossette.

“The common thread that weaves all of this work together is humanity: the special bond of friendship, the resiliency of sick children and their families, and the quiet compassion that comes from speaking your truth — these campaigns resonate because they reflect parts of our shared human existence back at us. To have that recognized by a trailblazing all-female jury is an honour.”

Cossette are awarded agency of the year with 1 Gold, 2 Silver, 1 Bronze and 5 Shortlisted works which included:

GOLD – Health Cut: SickKids Moms VS. Hard Days, SickKids Foundation, Get Better Gifts

SILVER – Communication Cut: SickKids Moms VS. Hard Days, SickKids Foundation, Get Better Gifts

SILVER – Health Cut: SickKids VS This is Why, SickKids Foundation, Children’s Hospital

BRONZE – Communication Cut: SickKids VS This is Why, SickKids Foundation, Children’s Hospital

SHORTLIST – Work For Good Cut: SickKids Moms VS. Hard Days, SickKids Foundation, Get Better Gifts

SHORTLIST – Communication Cut: Friends Wanted   , McDonald’s Canada

SHORTLIST – Experience Cut: The Speech, Nabs

SHORTLIST – Health Cut: The Speech, Nabs

SHORTLIST – Media Cut: The Speech, Nabs

“We are honored to be recognized as Network of the Year at the Gerety Awards, which focus on redefining creative benchmarks through awarding not only the best in advertising, but the work that resonates with the world’s most powerful consumers,” said Bill Kolb, Chairman and CEO, McCann Worldgroup.

“We’re especially proud to receive this recognition from an all-female power jury as our network prides itself on inclusivity and making an impact through helping brands earn a meaningful role in people’s lives. I want to thank our diverse and talented creative teams, as well as our brave and risk-taking clients, for working with us to produce work that moves their businesses forward.”

McCann Worldgroup was awarded network of the year with 1 Grand Prix, 3 Gold, 9 Silver, 3 Bronze and 7 shortlisted works from 33 different agencies.

GRAND PRIX – Experience Cut, The Birth of Gaming Tourism-Xbox / Microsoft: McCann London, Craft London, Momentum London & MRM London

GOLD – Health Cut, Cycle By Freda – Freda: McCann Madrid

GOLD – Entertainment Cut, Fortnite Stadium – Verizon: R/GA New York & Momentum Worldwide/New York

SILVER – Works For Good Cut, Rooftop Farms-Knorr: FP7 McCann MENAT Cairo

SILVER – Works For Good Cut, The Bread Exam-Spinneys Supermarkets & Lebanese Breast Cancer Foundation: McCann Paris, McCann Health London, FP7 McCann MENAT Dubai, McCann Worldgroup Dusseldorf, Weber Shandwick London, Weber Shandwick Istanbul & Weber Shandwick Frankfurt

SILVER – Innovation Cut, SafeWaze2Shop-Mastercard: McCann Poland & McCann Canada

SILVER – Communication Cut, Sponsor of Cancelled Events-ROM: MRM Bucharest

BRONZE – Pharma Cut, The CO2 Inhaler-AstraZeneca: McCann Health New York

BRONZE РPharma Cut, Blood Drive Thru-Chevrolet: WMcCann Ṣo Paulo, Commonwealth//McCann Sao Paulo, Commonwealth//McCann Bogota & McCann Health New Jersey

BRONZE – Media Cut, Go Near: Celebrating Local Travel Only On Airbnb – Airbnb: Weber Shandwick Los Angeles

SHORTLIST – Communication Cut, Xbox/Microsoft: Made From Dreams: 215 McCann San Francisco

SHORTLIST – Communication Cut, Everybody In-General Motors: Commonwealth//McCann Detroit, McCann Detroit, Momentum Worldwide/New York, MRM Detroit & Weber Shandwick Detroit

SHORTLIST – Craft Cut, Unmasked Beauty-Sonatel: McCann Dakar

SHORTLIST – Entertainment Cut, 3 Bar Superstar-Adidas & JD Sports:Â McCann London & Momentum London

SHORTLIST – Entertainment Cut, Lessons of Worth-L’Oréal Paris: McCann Paris

SHORTLIST – Communication Cut, Mahou4Ever-Mahou/San Miguel: MRM Worldwide Spain

Gerety Awards Co-Founder, Lucía Ongay, concludes: “When defining the greatest in advertising through the female lens we have a responsibility to celebrate only the very best. Advertisers who want to know how to target the world’s most powerful consumers need to look no further than the Gerety winners list”.

SOURCE:https://brandspurng.com/2021/09/13/gerety-awards-global-agency-network-of-the-year/

Newly-appointed Minister of Agriculture and Rural Development, Mr. Mohammed Mahmoud Abubakar has vowed to continue with the present administration’s policy agenda on food security as well as focusing on livestock transformation as a tool to curb insecurity in the country.

Abubakar, during the handover ceremony by the former Minister of Agriculture, Alhaji Sabo Nanono, added that “Food security is everything.”

He said his administration would create the policy direction necessary to reposition the agricultural sector as the mainstay of the Nigerian economy.

He said, “The priority of this ministry under my leadership will be to ensure that we provide the necessary policy direction and drive that will truly position agriculture as the mainstay of our economy as captured in the Medium-term National Development Plan, and the president’s vision of lifting 100 million people out of poverty in 10 years.

“In this regard, a livestock transformation plan will be a priority, due to its implication not just on food security but also on the impact in tackling security in the country.”

Abubakar also pledged to strengthen research and extension services in the sector, to promote and translate best practices into concrete deliverables in the agricultural and livestock value chain.

He appealed to Nigerians to patronize Made-in-Nigeria products, particularly agricultural produce.

He said this would boost the local production capacity and aid food exportation.

He said, “We should buy agriculture products, which is the only way we can support our farmers: during the border closure we eat local rice.

“There is no reason why we cannot do this, we have the talent, and all that is needed to make Nigeria the number one producer and exporter of food in Africa.

“The job of keeping our environment safe is the responsibility of everybody, so is same with Agriculture. I hope to do more than the previous minister has done.”

Earlier, Nanono, thanked the staff and management for the support accorded him while he held sway and urged them to also support the new minister.

He said that the ministry remained an institution with a huge responsibility.

He said issues bordering on fertilizers, Fulani/herder clash, job creation among others needed to be prioritized.

He said, “It is when this ministry succeeds that we will have food security, stability in this country.

“So when we focus on these priority areas we will be helping our country to achieve stability as well as secure our country food security-wise.

“We can do it, we stopped the importation of rice, I hope we will do that for wheat, I hope we will that for fish, maize and another crop because these are the mandates of the ministry.

“I have already retired to my farm, I will become a client of this ministry.”

SOURCE:https://brandspurng.com/2021/09/12/agric-minister-vows-to-priotize-food-security/

The World Federation of Exchanges (WFE) has elected Mr Oscar Onyema, the Group Managing Director/Chief Executive Officer of the Nigerian Exchange Group (NGX Group) Plc, to its Board.

In a statement made available to newsmen on Friday, Onyema said the achievement was to the overall financial market of Nigeria.

This decision was reached at the virtual 60th General Assembly and Annual Meeting of WFE held between Sept. 6 and Sept. 9, coordinated from London.

With the election on Sept. 9, Onyema will serve on the WFE board for a three-year term, representing Europe-Middle East-Africa (EMEA) region.

“I am honoured to be elected to the board of the WFE which is the global group for exchanges and clearing houses (CCPs) around the world.

“This is an important achievement for Nigerian Exchange Group and the Nigerian financial market.

“It is an indication of our prominent regional and global position and a testament to our contributions to the WFE in respect of our input on issues confronting the African and global capital markets.

“We are committed to fostering greater synergies between the WFE members and industry partners, and supporting the Federation to consolidate its position as the leading voice for exchanges and clearinghouses, amongst global stakeholders,” he said.

He added that the NGX Group was a member of the WFE since 2014 when it made history as the first West African exchange to be granted full federation membership status.

The Chief Executive Officer, WFE, Ms Nandini Sukumar said: “The WFE welcomes Nigerian Exchange Group and Oscar Onyema, a leader and thinker, to the Board of Directors.

“As an industry, we will all benefit from the perspectives and insights he brings.

“We look forward to working even more closely with African markets in future and bringing more of them into WFE membership, and the standard that they represent.”

SOURCE:https://brandspurng.com/2021/09/11/onyema-elected-member-of-world-federation-of-exchanges/

The Major Oil Marketers Association of Nigeria has said the imposition of Value Added Tax on imported Liquefied Petroleum Gas, also known as cooking gas, will hamper the adoption of the fuel in the country.

The new chairman of MOMAN, Mr. Olumide Adeosun, said this on Thursday during a virtual press briefing where his appointment was announced.

Adeosun, who is the Chief Executive Officer of Ardova Plc, succeeds the CEO of 11 Plc (formerly Mobil Oil Nigeria Plc), Mr Tunji Oyebanji, who was chairman of the association from 2019 to 2021.

Responding to a question on cooking gas price hike in the country, he said, “Unfortunately, we still don’t produce sufficient domestic LPG; so we are having to do a lot of imports and we are seeing a spike globally in the price of LPG.

“Domestically, what can we do? I think there have been discussions around the VAT that has been levied on the product.



“I think one of the big discussions that is going on right now is how that can be eliminated because the tax naturally creates a barrier to the objectives of the ‘Decade of Gas’, which is to increase the penetration and adoption of LPG, among other things, as an alternative to biomass. So, we are hoping that there will be some headway being made in that direction.”

Adesoun said he felt very privileged for the opportunity to serve as the chairman of MOMAN in ‘such an exciting time for our industry’.

He said, “As a collective, we are at cusp of new beginnings for the sector and I envisage that as we move towards less price-controlled reality, our journey will make for interesting times.

“My predecessor, Mr Tunji Oyebanji, provided leadership that was needed to navigate a very challenging time for both our association and the downstream sector.”

He said MOMAN must be at the forefront of unravelling the opportunities associated with operating in the free-market structures that had been created by the Petroleum Industry Act, while continually advocating for changes that positively impact the sector and the Nigerian economy.

Adeosun said, “Making the transition to a fully competitive pricing oriented downstream sector will require the collective engagement and resolve of all stakeholders.

“The world around us is changing rapidly and the oil and gas industry has been proven to be one of the most exposed to the winds of this change.”

He said the association would continue sustained engagement and the creation of initiatives that would make the implementation of the PIA a shared success for all concerned parties.

SOURCE:https://brandspurng.com/2021/09/10/marketers-seek-removal-of-vat-on-imported-cooking-gas/