₦airaland Forum

Nigeria and Ghana are set to scout more areas of business opportunities to further strengthen relations between both countries.


Ghanaian High Commissioner to Nigeria, Mr Rashid Bawa, said this in an interview with the News Agency of Nigeria (NAN) when he received a business delegation from Ghana in Abuja.

Bawa said the delegation from the Secondi-Takoradi Chamber of Commerce and Industry (STCCI) had visited the Lagos Chamber of Commerce and Industry and was in Abuja to sign a Memorandum of Understanding (MoU).

He added that the delegation was here to explore new areas through the signing of

According to the Ghanaian envoy, the MoU is between STCCI and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA).

“This is the first time that we have a regional chamber of commerce from Ghana coming into Nigeria to network with the various chambers here in the federation.

“The delegation met with the Lagos Chamber and they had fruitful discussions and agreed on various areas that will strengthen both chambers and therefore promote business between the two countries.

“The first assignment when the delegation arrived Abuja was to sign a Memorandum of Understanding between the Vice President of NACCIMA and the Chairman of Secondi-Takoradi Chamber of Commerce and Industry (STCCI).

“Of course, it brings closer these two chambers and it promotes networking among them as a body and also introduces their various businessmen to the business opportunities that exist between the two countries.

“By so doing, it will strengthen the economic opportunities between both countries.”

The envoy explained that the MoU would introduce Ghana to “a new network which brings together almost all business opportunities and presenting flexibility to deal with any business opportunity”.

He added that it would also present the businessmen with the opportunity to compare businesses from various angles before going into them.

The National Vice President of NACCIMA, Mr Tony Ejinkeonye, said the MoU signed by NACCIMA and STCCI was on the eSilkroad, a digital network linked to the Silk Road Chamber of International Commerce (SRCIC).

Ejinkeonye said SRCIC is a private initiative of the Chinese Government recruiting members of the Belt and Road initiative (BRI) aimed at creating a digital network that would connect countries’ businesses, trade organisations and chambers of commerce.

The BRI is a development strategy adopted by the Chinese government involving infrastructure development and investments in 152 countries and international organisations in Europe, Asia, Middle East, Latin America and Africa.

“Abuja Chamber of Commerce was the first, when I was president, to register as a member of the SRCIC but currently, so many chambers of commerce in Nigeria have registered and a few in some African countries.

“Can you imagine all businesses within the BRI are registered under the same network; it is an immense thing, just like Facebook.

“I am part of that digital network, I am the Director, Business Development for eSilk network which is what is driving the platform of the eSilkroad and our headquarters is based in Hong Kong. I am representing them in Africa.

“So what I did today was I took the opportunity to register the Secondi-Takoradi Chamber of Commerce into the eSilk network.

“What that means is that by the time our platform starts running they will incorporate all their members and companies into the digital platform. Abuja and the whole of Nigeria will do that. So that is that is the work I am doing,” he said.

The NACCIMA vice president also said as part of the digital network, STCCI stood to benefit from the infrastructural development and loans, cultural and educational grants, among others, within the BRI network.

Also speaking, Mr Ato Van-Ess, Chairman of STCCI, said that having businesses of that magnitude on one platform would encourage confidence among the chambers and facilitate trade among countries.

Van-Ess said the STCCI was the first to sign on to the eSilkroad digital platform in Ghana.

“We expect that the chambers would have done due diligence before putting them on the platform.

“It makes it very easy for us to access vendors and customers would have done all the due diligence before putting any element on the platform.”

Mr Michael Konow, Deputy Director, Head of International Projects and Partnerships, Hamburg Chamber of Commerce, Germany, said the organisation was working with the STCCI to learn from experiences of Nigerian chambers of commerce.

Konow added that the delegation would also explore business opportunities in Nigeria.

“It is more about sharing experiences; we have seen that the main challenges of commerce and industry in Africa are the same.

“It is always about how to get members attracted because there is freedom of association in Germany, there is compulsory membership so it is very easy for us in Germany but in Africa it is not.

“I can tell you that the Nigerian chambers of commerce are very big and we can learn a lot from them and as a business membership organisation, we do the work for our members and I can tell you it makes sense to do business both ways especially in the extractive industries.

“We have established a first connection and it will be vibrant in the future. This is a major benefit.”

The business delegation is on a one-week fact-finding mission to Nigeria.

SOURCE: https://brandspurng.com/2019/03/28/nigeria-ghana-agree-to-strengthen-business-reletionship/

TomTom, a candy brand of Cadbury Nigeria Plc, has signed top Nigerian rap act, Phyno and singing sensation Teni as its Brand Ambassadors. At an unveiling ceremony held in Lagos, the company revealed that the desire to connect further with their consumers through music informed the engagement of the talented duo.

The contract involves featuring in the TomTom’s brand and marketing campaigns, including advertisements and special appearances at the brand’s events.

The Managing Director, Cadbury Nigeria Plc, Amir Shamsi expressed his delight at the influence of the ambassadors on the objectives of the company for the TomTom brand. “The future is now. Despite being a candy of heritage, TomTom remains youthful and cool. The Nigerian entertainment industry has remained a major sector for the Nigerian youths to thrive and TomTom is very delighted to go all the way to showcase passion points of millions and hopefully contribute to the success of many more.”

In his remark, the Marketing Manager, Cadbury Nigeria Plc, Aruleba Olumide believe that the choice of Phyno and Teni is strategic to the new marketing objectives of the brand.
In his remark, the Marketing Manager, Cadbury Nigeria Plc, Aruleba Olumide believe that the choice of Phyno and Teni is strategic to the new marketing objectives of the brand.

He added that “our cool, youthful and music loving consumers admire these super talented musicians; they see them as their culture Icons. Wherever they are enjoying themselves, with TomTom, they can be sure to have the best of times. For about five decades, the TomTom has provided cool refreshments as a premium candy of choice for Nigerians.”

Also speaking at the event, incoming Managing Director, Cadbury Nigeria Plc Mrs Yimika Adeboye described Tomtom as a winning product that has stood the test of time among other candy brands available in the Nigerian market.

According to her, the company is very positive that the chosen brand ambassadors will help drive brand awareness and association with core consumers.
In their response as ambassadors, ‘Phyno’ and Teniola expressed delighted at their engagement by TomTom and the opportunity to form a deeper bond with ever growing fans of young people that are always open to cool new experiences. They both look forward to very exciting times in their ambassadorial roles.

TomTom is the leading Candy in Nigeria and has been in Nigeria since 1970. The brand has thrilled millions of loyal consumers in Nigeria and beyond for over 50 years and has grown to be the biggest and strongest candy brand in Nigeria market.

SOURCE: https://brandspurng.com/2019/03/27/tomtom-signs-phyno-teni-as-brand-ambassadors-pictures/

The National Automotive and Design Development Council (NADDC) said the Council has partnered with the Bank of Industry (BoI),  Jaiz Bank and stakeholders to finance the manufacturing of made-in-Nigerian vehicles.

The partnership should start to manifest in the next two months and allow Nigerians  to put down 10 per cent or less for the purchase of new made-in-Nigeria. Other payments will be made over a number of years as opposed to the 28 per cent that was operational. This will spur local capacity and support the production of vehicles in the country.

Its Director-General, Aliyu Jelani told reporters during a media briefing that in other countries, people put down 15 per cent and drive off with the vehicle and pay after a number of years.  This, he said, is technically non existence in the country.

He said: “Presently we are building three automotive test centres; we are about 85 per cent complete, we have one in Lagos to test emission, the second in Enugu to test components and the third in Zaria for materials. By the time this test centres are on line, any vehicle or components that is made, sold or brought into the country must be certified by NADDC before it can go on to the market. This is to ensure that Nigerians only have high standard of components.

“Nigerians face a lot of problems when something goes wrong with their vehicles. Most mechanics in Nigeria today are not qualified enough to diagnose the vehicles so the vehicle is either fixed or made worse, even when they understand what the problem is the parts itself are substandard. They either bring in brand new substandard or they may be either used parts.”

He said it was on this strength that the Council came into action and began to bring back car manufacturing. As a result of that Innosen sprung up, Hyundai came into the country, Peugeot was revived.

Innosen said  is doing very well, the Nigerian Automobile Industry Bill NAIDC is working in towards  discouraging importation and supporting local production as a result we now have a number of manufacturer’s and  producers in Nigeria.

“We are all aware of the huge challenge we have with electricity, water and connectivity in Nigeria. The NAIDB also have what we call structure development. We are currently in the process of building three industrial parks in Kaduna, Oshogbo and Nnewi, the one in Nnewi is most advanced, we already have a master plan done, we are working with Bank of Industry, Jaiz Bank and a number of stakeholders, we have discussed with a lot of manufacturers who will plug in and play in such a place like Nnewi.”

Jelani said these are automotive industrial parks with the central location where all the necessary infrastructure will be provided, electricity, road structure, connectivity and water so that it will be easy for companies to come and set up shops.

SOURCE: https://brandspurng.com/2019/03/27/naddc-to-collaborates-with-boi-jaiz-bank-to-finance-made-in-nigeria-vehicles/

Apple today has updated its Apple Music app for Android with a pair of notable improvements. First, the update includes the revamped “Browse” tab that came to iOS. There is also Chromebook support with today’s update.

The music streaming service called Apple Music was launched back in June 2015, but it was initially limited to Apple’s own platforms for its smartphones and computers. Eventually, in November 2015, Apple also launched Apple Music on Android, and it has since become one of the world’s most popular music streaming services. Apple is now rolling out an update for Android which brings improvements to the app, thereby working towards making the experience on Android on par with that of Apple’s platforms.

The latest update for Apple Music on Android is rolling out now through the Google Play Store, and brings a couple of key changes. The first is support for Chromebooks; you can now install and use the app even on Google’s platform for computers. The Chrome OS platform allows app downloads through the Google Play Store for apps that are designed to work with the platform, and Apple Music has now extended that support to the platform.

Apart from this, the update also brings a new and improved ‘Browse’ tab for the Android app. Browse allows users to search through editorial recommendations and curated playlists to discover new music, and the update makes it easier to discover new music and playlists through more editorial highlights on the screen. The changelog for Android also lists various bug fixes, which will likely improve the overall usage experience for Android users.

Apple Music is the default music player on iOS and macOS devices, but requires a paid subscription that starts at Rs. 120 per month. While it has been one of the more popular services in India thanks to its pricing model, the recent launch of Spotify and YouTube Music in India has changed the dynamics of the premium music streaming space in the country.

SOURCE: https://brandspurng.com/2019/03/26/apple-music-for-android-updated-with-browse-tab-chromebook-support/

Pan African financial institution, United Bank for Africa (UBA) Plc has assured its local and international investors that it’s a prudent focus on improved asset quality, as well as the continuous adoption of strict cost-efficient measures, will help the bank achieve its objectives and priorities for the 2019 financial year and beyond.

This the bank has said will culminate into an institution with even stronger indices laced with the capacity to churn out strong double-digit growth in annuity-based trade services, enhanced offerings and improved customer service.

Already, the bank has instituted a number of enhanced risk management and control framework which has in no small measure contributed to its financial performances and overall balance sheet growth over the years.

The Group Managing Director/Chief Executive Officer, Mr. Kennedy Uzoka, who noted this in a submission while presenting the bank’s 2018 full year results during an international investor/ analysts conference call on Thursday, explained that UBA’s well-diversified asset book supported by stable funding structure, placed it in a premium position to perform remarkably despite the falling economic indices in its operating environment.

He said, “In spite of a slow recovery in economic activities in Nigeria (our single largest market), the Group’s total assets have grown by 19.7%, driven largely by a strong deposit growth of 23%, as the drive for retail deposits continue to yield desired results. Leveraging on enhanced customer service, the Group grew retail deposits by 48%, thus strengthening the funding base and providing the foundation for lower cost of funds in 2019.

“Notably, the growth in balance sheet also partly reflects the impact of exchange rate difference between the reporting dates (2017: N331/USD vs. 2018: N359/USD), as 37% of loans and 27% of the overall balance sheet is FCY-denominated. The Group maintained its appetite for a well-diversified balance sheet, with over 60% in liquid, low-risk instruments.”

Uzoka explained to the investors that the bank recorded impressive growths achieved across major financial lines, recording a 48 percent year-on-year growth in retail deposits and improved CASA ratio to 77 per cent.

In its results for the year ended December 2018, UBA gross earnings grew by 7.0 percent to N494.0 billion, compared to N461.6 billion recorded in the corresponding period of 2017. The Bank’s total assets also grew significantly by 19.7 percent to an unprecedented N4.9 trillion for the year under review

Throwing more light on the financials, he stated that gross earnings grew by 7% year-on-year, despite regulation and market conditions undermined the non-interest income line. Interest income, which contributed 73% of gross earnings, grew by 11%, driven by strong interest income on treasuries, reflecting the low-risk appetite and treasury-led strategy adopted during the year. He noted that the lower non-interest income was occasioned by market condition and regulatory impact on FX trading income, adding that growing volume on FX trading is compensating for lower margin on this business, thus reinforcing our positive growth expectation on this income line in 2019.

While speaking on the strength of the financial institution in the coming years, especially on the back of it’s African and non-African subsidiaries, Uzoka said the bank’s recent foray into key markets and economies remain a milestone that will catapult the institution in the coming years.

He said, “UBA is a unique pan-African franchise with diversified risk and earnings across fast-growing African economies with sound governance, risk management and compliance culture which can be seen from our adherence to international best practice. Our robust digital banking platform through which we are leveraging technology to serve over 15 million customers in a cost-efficient approach that has helped to deepen African banking penetration.

“We have the strong financial capacity backed by high capitalization (BASEL II capital ratio well above requirement) and strong liquidity, and we have worked hard towards connecting Africa and the world through our presence in key African markets and major global financial centres such as New York, London and Paris.”

SOURCE: https://brandspurng.com/2019/03/25/uba-hinges-future-performance-on-cost-efficiency-improved-asset-quality/

As part of efforts to provide succour to victims of the collapsed and demolished buildings on Lagos Island, the Lagos State Government has reiterated its readiness to accommodate affected residents at the State Relief/Resettlement Centre Igando in Alimosho Local Government Area.

Speaking during a tour of the Resettlement Centre in Igando at the weekend, the Commissioner for Information and Strategy, Mr. Kehinde Bamigbetan, stated that Governor Akinwumi Ambode has approved that those affected as a result of the ongoing demolition of defective buildings be resettled at Relief Centre in line with international best practices.

To this end, Bamigbetan stated that the Lagos State Emergency Management Agency’s Resettlement Camp/Relief Centre is ready to accommodate no fewer than 500 displaced persons from Tuesday, March 26.

He declared that the exercise is part of the State government’s efforts to ensure that the effect of loss on the victims is mitigated to the barest minimum.

Also speaking the General Manager of the State Emergency Management Agency, Adesina Tiamiyu, said that the camp would be open for three months after which the government would review the need for an extension.

Tiamiyu said further that a medical team would arrive at the Resettlement Centre later today (Monday) to ascertain the health status of those affected, while the Igando General Hospital will handle referrals from the Camp.

The Igando Resettlement Camp has facilities to provide relief for affected victims, including those living with disabilities.

SOURCE: https://brandspurng.com/2019/03/25/lasg-opens-resettlement-camp-for-victims-of-building-collapse/

The King Baudouin Foundation awards the African Development Prize to WeCyclers, a Lagos based waste management start-up. The Prize will allow WeCyclers to develop further their business and increase their impact at national and international level.

By 2100 Africa will account for 5 out of 10 biggest cities in the world, and Lagos could be the biggest city in the world. Today, Lagos residents generate 15,000 tons of waste per day, of which only 40% is collected by the municipal government. WeCyclers’ model is designed to help fill this gap and reduce solid waste in the street of Lagos, improving both the environment and the wellbeing of populations.

The organisation utilises low and high technology solutions that comprise of a mobile application and SMS technology, as well as innovative low-cost bicycle-powered collection vehicles, which collect recyclable waste directly from households, to sell it on to recycling plants before it is made into new products. Households are sent an SMS by WeCyclers informing them of any “points” earned, which may be redeemed for food, household items and other goods.

“We are proud to grant WeCyclers for their unique model”, said Hervé Lisoir from the King Baudouin Foundation. “We selected the enterprise out of 200 applications for its innovative approach to engaging the community turning to recycle into an economic driver for communities and turning citizens into agents of change.”

The company has also been selected for its economic impact. By rewarding citizens with “points”, it allows low-income communities to capture value from their waste, and redeem points for household goods, food items or cash aiding daily life. Today, the company already benefits from the engagement of over 17k subscribers in 7 localities in Lagos. It registers around 200 new members each month. The Nigerian start-up has also created 200 jobs in 7 years, with a focus on women, who currently account for 60% of their workforce.

“Giving back to the community is in the DNA of WeCyclers. We want to expand our business to other neighbourhoods. In the mid-term, we want to be big enough to build our own recycling plant. Growing more for WeCyclers, means being able to give back even more to the community, “declared Olawale Adebiyi, CEO of WeCylcers.

Since WeCyclers launched its initiative, awareness around the issue has risen among the general public, spurring several other companies to develop new solutions to recycling. WeCyclers have also recently partnered with major corporations, such as Unilever and Nigerian Bottling Company, to launch “kiosks” in places where there are no collection routes.

Through its financial support of €200,000, the Prize will allow WeCyclers to upscale their model and increase their footprint, with plans to expand in Lagos, other Nigerian cities and neighbouring countries. The Prize also provides access to a wide network of stakeholders in Europe and the US, who will support them as they grow. With current growth projections, WeCyclers aim to collect 5k tons of recyclables by 2020 and could be serving 500k households by 2023.

The biennial award ceremony in the presence of King Philippe and Queen Mathilde of Belgium at the Royal Palace in Brussels will take place on June 12.

SOURCE: https://brandspurng.com/2019/03/24/wecyclers-wins-e200000-prize-in-waste-management-photos/

The Nigerian National Petroleum Corporation (NNPC) has again announced plans to rehabilitate the nation’s four refineries to help the country save billions of dollars it expends annually on fuel imports.

To this end, the corporation has awarded a contract worth about $50 million to Italy’s Maire Tecnimont to carry out checks and equipment inspections of Port Harcourt refinery.

The Port Harcourt refinery overhaul would be followed by the Warri and Kaduna refineries, according to Reuters report.

Minister of State for Petroleum, Dr. Ibe Kachikwu hinted recently that the federal government would raise $1.2 billion to upgrade the four refineries as it plans to end reliance on petrol imports this year. Between 2013 and 2017, Nigeria spent $36.371 billion on importation of petroleum products, according to data from the Central Bank of Nigeria (CBN).

Also, Kachikwu, in 2017, disclosed that Nigeria allocated an average of $28 billion of her foreign exchange earnings yearly to import about 92 per cent of the petrol consumed locally.

Kachikwu, who made the revelation at the 2017 conference of the Modular Refineries Association of Nigeria (MRAN) in Abuja, also put the country’s daily petrol consumption then, at 66 million litres.

However, a recent report from the National Bureau of Statistics (NBS) showed that a whopping N2.289 trillion was expended in 2018 alone on importation of refined petrol.

According to the report, a total of N802.4 billion worth of petrol was imported in the first quarter of the year, N744.28 billion in the second quarter and N742.82 billion in the third quarter of 2018.

Nigeria’s four refineries located in Port Harcourt (two), Warri and Kaduna, with combined installed capacity to refine 445,000 barrels of crude per day, have been comatose, because top oil industry officials divert huge funds earmarked for their routine comprehensive turnaround maintenance (TAM).

Contrary to repeated claims by the NNPC that the refineries undergo routine TAM, the four refineries have not undergone comprehensive repairs in the last 18 years or more as contracts awarded by successive governments were either abandoned halfway or not executed at all.

The NNPC confirmed this, when it hinted last Thursday that the planned overhaul of the 210,000 barrels per day (bpd) Port Harcourt refinery would be the first since the last revamp was carried out 19 years ago.

Under the contract term, Maire Tecnimont will carry out checks and equipment inspections for Port Harcourt refinery. The news wire also quoted NNPC to have said that work on the Port Harcourt refinery would last for six months starting from end of this month.

According to the corporation, Nigeria’s effort to ensure local sufficiency in refined petroleum products would be bolstered by the first phase of the rehabilitation of the Port Harcourt Refinery complex.

The corporation has been in talks with different consortiums to revamp its dilapidated refineries and has considered paying for the work via off take of refined products rather than cash.

NNPC said it would use its own cash to pay for the work and then raise debt. The Port Harcourt overhaul would be followed by the Warri refinery, which is also in the Niger Delta, and the refinery at Kaduna in the north west of the country.

At the end of the first phase, the Port Harcourt refinery should reach 60 per cent capacity utilization, increasing to a minimum of 90 per cent, NNPC said, adding Italy’s Eni would act as adviser.


SOURCE: https://brandspurng.com/2019/03/24/nnpc-to-rehabilitate-nigerias-refineries-to-save-billions-spent-on-fuel-importation/

This week we continue the list of our annual 100 Most Inspiring Women in Nigeria list for 2019. For the fifth consecutive year, the list features 100 Nigerian women drawn from a diverse range of backgrounds and sectors who are deliberately impacting their world and local communities through the power and strength of their ideas and achievements. Women who are making great strides in the world of Business, Politics, Advocacy, Governance and Enterprise. “It’s perhaps our most diverse list yet,” Francesca Uriri says, Founder of Leading Ladies Africa.

Funmi Oyatogun- A travel experience designer and founder of TVP Adventures- a one-stop-shop for exciting travel experiences across Africa. Through TVP Adventures, Funmi plans and creates bespoke trips on social media where she has a huge following. But beyond that, Funmi also creates immensely useful travel infographics and materials that are useful for travelers, tourists, and those looking to learn about new places in the world.

Gbemi Adefuye (Toni Tones) is a Nigerian actor, photographer, singer, and radio host. She recently starred in Kemi Adetiba’s ‘King of Boys,’ where she gave a stellar and critically acclaimed performance as the younger Eniola Salami. Gbemi studied Marketing and Economics at the University of Lancaster in the UK, and then returned to Nigeria in 2009 to explore her ambition for show business. She does photography work both behind and in front of the camera. She has appeared as an actor in the Web TV series “Gidi-culture” and in several films including “It’s Her Day” in 2016.

Glory Osei- Founder of Femfunds, a growing organization with a goal of providing women in Nigeria with interest free loans and free skill acquisition. She is also the CEO and Co-founder of Divergent Enterprise, Land Lagos and PorkMoney.com. Glory is also a travel blogger who chronicles her travel escapades formerly under the name Nigerian Abroad on her social media page.

Habiba Ali- Managing Director and CEO of Sosai Renewable Energies Company, one of the largest distributors of renewable energy in Nigeria. Sosai Renewable Energies provides renewable energy products like solar lamps, water purifiers and solar panels, as well as energy consulting services to help bring clean, renewable energy solutions to Nigeria’s budding communities. Habiba also co-founded the Developmental Association for Renewable Energies (DARE) and is a member of the Partnership for Clean Indoor Air and the Nigerian Energy Network.

Ibijoke Faborode – Head of Agritech and Healthcare Advisory, West Africa with UK Department for International Trade. There, she leads on International trade facilitation and investment advisory between the UK and 6 principal West African markets.

She is an astute professional, gender advocate and change-maker; with a decade of cross-geographical experience spanning various fields including Agribusiness consultancy, Policy Advisory, International Trade Facilitation, Investment Promotion, Pan-African Media Management and International Business Development.

In 2017, she led the very first bi-lateral agri-focused dialogue between the UK and Nigeria in London, which attracted over 100 delegates from Nigeria including the Agric Minister, eight State Governors and multilateral bodies such as the Africa Development Bank in a bid to promote opportunities in Nigeria’s growing agric space. She also currently co-chairs the Women’s Network at the High Commission.

Prior to this, she worked with The Africa Report, Groupe Jeune Africa: a Paris-based pan-African media group as Regional Business Development Manager for Sub-Saharan Africa.Her passion for driving social change and touching lives led to the recent creation of The Social Change Network (TSCN), Africa – a non-partisan, non-profit civic engagement organization focused on promoting social change and inclusion across Africa.

Ife Durosinmi Etti – Author, Entrepreneur and young global leader with over 10 years of management and leadership experience working in the fashion, marketing and manufacturing industries. She holds a first degree in Biochemistry and an MBA in Global Business. Prior to moving back to Nigeria in 2012, she worked with Arcadia Group Plc, a British multinational retailing company headquartered in London and Aspire Acquisitions. She later joined Nigeria Breweries (Heineken Operating Company in Nigeria) as a Young African Talent (YAT) and transitioned to their Corporate Communications Department as Corporate Social Responsibility and Sustainability Support Manager where she successfully managed various corporate social responsibility and sustainability projects.

Ifedayo is also an associate member of the Advertising Practitioners Council of Nigeria (APCON). With her passion for women and children, she launched Parliamo Bambini and Philos and Zoe, startups disrupting the baby and child industry through locally manufactured furniture and clothing for children with the aim of reducing poverty, empowering the youth and promoting access to quality education in Nigeria and Africa. She is also very passionate about women and youth contributing to national development, so she launched a platform called the AGS Tribe to democratise opportunities for entrepreneurs across Africa and the AGS Enterprise Challenge, to empower female entrepreneurs through funding, mentorship and training.

Ife Diary of a Naija Girl – Editor of Diary of a Naija Girl- a personal website that houses her contemplations on various issues including lifestyle and social commentary. She is also the Executive Director and founder of DANG Network- a revolutionary storytelling company that specialises in solid content creation and media production.

Ifeyinwa Ugochukwu- Chief Executive Officer of the Tony Elumelu Foundation effective from April 1st 2019. She started at the foundation as the Director of Partnerships and Evaluation and continues to facilitate local and international strategic partnerships to scale amongst others the Flagship $100m TEF Entrepreneurship Programme across Africa working in tandem with Development Organizations, Development Finance Institutions as well as other Public & Private Sector stakeholders to create an enabling environment for entrepreneurship in Africa.

Ifeyinwa holds a Bachelor of Law degree from the University of Wales, Cardiff and is a Barrister and Solicitor of the Supreme Court of Nigeria. She holds a post- graduate degree in Business and Executive Coaching from the Integral Africa Institute, Cape Town. She possesses significant expertise in youth entrepreneurship development and has recorded great achievements in negotiating and closing partnerships between the Tony Elumelu Foundation, and global partners including the International Committee of the Red Cross (ICRC), the United Nations Development Programme (UNDP) and the German development agency – Deutsche Gesellschaft für InternationaleZusammenarbeit GmbH (GIZ).

Ivie Martins Ogbonmwan serves as the Human Resources Manager, Udo Udoma & Belo-Osagie Law firm. Prior to her current role, she was responsible for strategies to attract, develop, and retain talent for ACT Foundation. Ivie was also an experienced analyst with OutsideIn HR, a management consulting firm which focuses on human resource business partnering, global talent development, and organizational effectiveness. In the course of her HR career, she successfully managed the overall provision of Human Resources services, policies, and programs and has helped various organisations boost overall performance through effective HR, strategy building, fair and coherent compensation & benefits, and employee engagement.

Jade Osiberu- Award-winner producer, screenwriter and director. If you have watched Isoken and Ndani Tv’s SkinnyGirl in Transit then you should know that the directorial credit for those commercially successful productions is Jade Osiberu. She obtained a bachelor’s degree in Computer and Systems Engineering from the University of Manchester, but after a brief stint as a Software Engineer at Neptune Software, she returned to her true passion and went on to obtain a Master’s degree in Media and Communications. Prior to launching into independent filmmaking, she was on the Digital Marketing team at GTBank and there, she created Ndani TV- a first of its kind content marketing project that solidified the bank’s position as one of the most innovative Nigerian Banks Online. She is also credited for directing and producing several shows including Gidi Up and The Juice.

Julia Oku Jacks is the CEO of Tree Water Limited, a leadership, learning and dream releasing organization. An alumnus of the University of Calabar, the School of Oriental and African Studies, University of London and the Lagos Business School, Julia lectured in the University of Calabar and is the co-founder of SO&U Saatchi, a leading advertising and marketing communication agency. She has also worked in international philanthropy through the Ford Foundation Office for West Africa. Alongside 13 intrepid women and one man, Julia co-founded WIMBIZ, an organization, which has evolved into a game changing catalyst, making space for the presence and voices of women to be felt and heard in the corporate, entrepreneurial and public service spaces in Nigeria.

Kadaria Ahmed- Nigerian journalist, media entrepreneur, and television host. She started her career at the BBC in London and has worked in print, radio, television, online and social media platforms. In 2017, she launched a new show called The Core on Channels TV. Kadaria has an M.A. in Television from Goldsmiths, University of London, and a Bachelor’s Degree from Bayero University Kano.

She is also a Chevening Scholar. In the build up to the February 2019 general elections, she moderated the town hall meetings for presidential candidates and their deputies, specifically that of President Muhammadu Buhari and his vice, Professor Yemi Osibanjo. Kadaria is currently a member of the judging panel of the Wole Soyinka Centre for Investigative Journalism and sits on the Board of Trustees of Premium Times Centre for Investigative Journalism and the Promasidor Quill awards. In 2017, she founded Daria Media Limited, a company designed to promote public service journalism.

Kemi Olawoye- Award-winning media personality and entrepreneur passionate about improving health outcomes in Nigeria. With a focus on journalism and the role of media, Kemi’s work was borne out of her desire to address the problem of poor health literacy and health- seeking behaviour among Nigerians. She is the co-host and producer of Health Vibes, a 45 minutes health show on Silverbird’s radio, Rhythm 93.7fm Lagos and the host of HealthXtra, a health, wellness and lifestyle show on Silverbird Television. She is also the Founder/CEO of GHA, a Health Communications Company focused on providing public relations services to health and wellness organizations. In just a few months of operation, GHA has worked with numerous clients including The Eko Hospital, Exquisite Magazine and Well path Physiotherapy.

SOURCE: https://brandspurng.com/2019/03/23/leading-ladies-africa-lists-100-most-inspiring-women-in-nigeria-for-2019/

President Muhammadu Buhari yesterday in Abuja assented to Engineers (Registration etc) Amendment Bill, 2019, which among others, bars the National Youth Service Corps (NYSC) from posting graduates of engineering to secondary schools to teach.

The bill which has now become the Act of the National Assembly seeks to promote technological development in Nigeria by ensuring that trained engineers were well positioned to deploy the knowledge acquired in their various fields to the development of technology in the country.

Briefing journalists at the State House, Senior Special Assistant to the President on National Assembly Matters, Senator Ita Enang, said as against the tradition of posting a large number of engineering graduates to schools by NYSC, youth corps members who are graduates of engineering must henceforth be posted only to engineering firms and other institutions that are relevant to their professional fields.

Aside prohibiting such firms from rejecting engineering graduates posted to them, the Act mandates NYSC to immediately communicate the name of any institution where an engineering graduate is posted to, for his/her primary assignment, to the Council for Regulation of Engineering in Nigeria (COREN).

Enang cited Section 14 (i and ii) of the Act which provides that “The Directorate of the National Youth Service Corps shall ensure posting of graduate engineers and technologists to places of relevant professional engineering experience.

“Pursuant to the provision of subsection (i), the Directorate of National Youth Service Corps shall communicate the location of graduate engineers and engineering technologists to the Council.’’

Furthermore, the Act prohibits any foreign engineering firm from operating in Nigeria without being duly registered in the country by COREN.

It also mandates such a foreign firm to ensure the introduction of local content into the operations of the company by employing Nigerian engineers.

Enang added: “The Act broadens engineering ‘practitioners to include a registered engineer, engineering technologist, engineering technician and engineering craftsman.’ It emphasises more on engineering practitioners as against ‘engineer.’

“The Act has been remitted in accordance with standard legal procedures. The principal Act establishes the Council for Regulation of Engineering in Nigeria – COREN’ with power vested.

“The amendment now assented to by Mr. President broadens the powers of COREN with far-reaching powers of prosecution of infractions, regulating industrial training of engineers, capacity building of local content in Nigeria engineering industry.

“Specifically, the new law grants COREN powers of: ‘prosecuting any person or firm that contravenes the provisions of this Act in a court of competent jurisdiction; regulating industrial training schemes in engineering practitioners and students; ensuring capacity building and monitoring local content development in the Nigerian engineering industry through – mandatory attachment of Nigerians to expatriate engineers on major projects to understudy them from inception; ensuring that all foreign engineering firms establish their design offices in Nigeria.”

Enang also said the new Act grants “compulsory attestation to all expatriate quota for engineering practitioners, including turnkey project, that there are no qualified and competent Nigerians for the job in question at the time of application and that granting of the expatriate quota shall be contingent on training of such number of persons as may be required for the execution of the job, and; ensuring that, before being allowed to practice in Nigeria, such foreign engineering practitioners granted work permit, register with the council and obtain such licenses as may be required from time to time; investigating engineering failures.’’

He further disclosed that the Act further authorises the admission of some engineering associations into COREN as the umbrella body of all engineers in the country.

Such associations as listed by Enang are: Nigerian Association of Technologists in Engineering, Nigerian Society of Engineering Technicians, and Nigerian Association of Engineering Craftsmen.

According to him, the Act further authorises one person to represent in COREN, the Association for Consulting Engineering in Nigeria, Federation of Construction Industry in Nigeria, Manufacturers Association of Nigeria, and Armed Forces in rotation.

“The Council is now entitled to maintain a fund into which shall be paid money appropriated by the National Assembly, subventions, fees, charges for services rendered or publications made, donations, engineering development levy, among others,” Enang added.

SOURCE: https://brandspurng.com/2019/03/23/engineering-graduates-will-no-longer-be-positioned-to-teach-by-nysc-in-the-newly-stated-law/

Delta Soap advert is dope......

Tech major Microsoft has successfully developed an end-to-end automated DNA storage device that can translate digital information into DNA and back to bits.

The fully automated system to store and retrieve data in manufactured DNA is a key step in moving the technology out of the research lab and into commercial data centers.

The novel system, developed in partnership with University of Washington, translated “HELLO” into DNA and converted it back to digital data in just 21 hours, reported the paper published in Nature Scientific Reports journal.

“Our ultimate goal is to put a system into production that, to the end user, looks very much like any other cloud storage service — bits are sent to a data center and stored there and then they just appear when the customer wants them,” Karin Strauss, principal researcher at Microsoft, wrote in the post on Thursday.

“To do that, we needed to prove that this is practical from an automation perspective,” Strauss added.
The system has so far stored one gigabyte of data in DNA, which includes cat photographs, great literary works, pop videos as well as archival recordings in DNA, which could be retrieved without errors, the researchers said.
The automated DNA data storage system uses software that converts the ones and zeros of digital data into the As, Ts, Cs and Gs that make up the building blocks of DNA.

Then it uses cheap lab equipments to flow the necessary liquids and chemicals into a synthesiser that builds manufactured snippets of DNA and to push them into a storage vessel.

When the system needs to retrieve the information, it adds other chemicals to properly prepare the DNA and uses microfluidic pumps to push the liquids into other parts of the system that “read” the DNA sequences and convert it back to information that a computer can understand.

Information is stored in synthetic DNA molecules created in a lab, not DNA from humans or other living things, and can be encrypted before it is sent to the system.

Further, the team also developed techniques to search for and retrieve only images that contain an apple or a green bicycle — using the molecules themselves and without having to convert the files back into a digital format.
“We are definitely seeing a new kind of computer system being born here where you are using molecules to store data and electronics for control and processing. Putting them together holds some really interesting possibilities for the future,” said Luis Ceze, Professor at the varsity.

SOURCE: https://brandspurng.com/2019/03/22/microsoft-demonstrates-first-fully-automated-dna-data-storage/

Nigeria’s commercial city, Lagos is one of the 10 cheapest cities in the world, according to he Economist Intelligence Unit’s bi-annual survey.

Lagos was ranked 127 in the survey that compares the cost of more than 150 items such as cars, food, rent, transport and clothing in 133 cities.

The results are a far cry from two years when Lagos was named by estate agent, Savills as the most expensiveAfrican city to stay and work in.

The survey is aimed at helping companies calculate compensation packages and allowances for expatriate staff and business travellers.

It also tracks whether prices have gone up or down by comparing them with the cost of living in New York, which is used as a benchmark.

World’s 10 cheapest cities

1. Caracas (Venezuela)
2. Damascus (Syria)
3. Tashkent (Uzbekistan)
4. Almaty (Kazakhstan)
5. Bangalore (India)
6. Karachi (Pakistan)
6. Lagos (Nigeria)
7. Buenos Aires (Argentina)
7. Chennai (India)
8. New Delhi (India)

On the other end of the spectrum, Paris and Hong Kong were tied with Singapore as the world’s most expensive cities to live in.

It was the first time in more than 30 years that three cities shared the top spot, a sign that pricey global cities are growing more alike, said the report’s author, Roxana Slavcheva.

“Converging costs in traditionally more expensive cities … is a testament to globalization and the similarity of tastes and shopping patterns,” she said in a statement.

“Even in locations where shopping for groceries may be relatively cheaper, utilities or transportation prices drive up overall cost of living,” she said.

The top ten list was dominated by Asian and European cities, with Osaka and Seoul in joint fifth and joint seventh places respectively. Zurich (4th), Geneva (joint 5th) and Copenhagen (joint 7th) also in the elite club.

SOURCE: https://brandspurng.com/2019/03/22/lagos-ranks-sixth-cheapest-city-in-the-world-economist-survey/

Banks only build branches, or so the story goes. Except for Guaranty Trust Bank Plc; the foremost African financial institution, which has been at the forefront of several innovative products and services, recently completed and opened the first digital playground for children in Nigeria.

Located in Lekki, Lagos State, the GTBank Play Centre is equipped with a wide range of interactive games that will give kids a fun and immersive digital experience whilst aiding their mental and intellectual development. Open from 10 am to 3 pm on Weekdays, and 10 am to 1 pm on Saturdays, some of the features of the Play Centre include the Sketch Town, where kids can design cars, launch rockets, and bring all their sketches to life. At the playground, children can also use the wide range of bricks available to build whatever excites their curiosity and also express themselves creatively by scribbling, writing and drawing on a digital chalkboard.

GTBank is renowned for designing innovative and personalized products and services that are tailored to customers’ unique needs and which fit seamlessly with their lifestyles. Recently, the Bank launched Habari, a digital platform that gives customers unlimited access to local and international music, and at the same time, allows them to shop online, split bills with friends and take care of their everyday needs, in one place. Habari, like the GTBank Play Centre, is the first of its kind in Nigeria, reflecting the Bank’s digital drive as well as its focus on creating unique experiences for all segments of its customer base.

Commenting on the launch of the Play Centre, the Managing Director and Chief Executive Officer of Guaranty Trust Bank plc, Mr Segun Agbaje said;“How and where children play contributes significantly to their cognitive and intellectual development, helping them build better communication and problem-solving skills. Our new Play Centre will give children a tension-free space to build these critical developmental skills, expose them to new and emerging digital technologies, and, most importantly, give them a wonderful time out.”

He further stated that “At GTBank we are passionate about building the bank of the future, and for us, this means constantly leveraging the best of technology to create amazing digital experiences for all of our customers, in a way that adds real value to their lives.”

Guaranty Trust Bank is one of the best run African financial institutions and serves as a role model within the financial service industry due to its bias for world-class corporate governance standards, excellent service quality, and innovation. The Bank is also renowned for driving youth empowerment initiatives alongside its business, as seen with the GTCrea8 Account package, which doubles up as a platform for empowering young undergraduates with the resources and networking that they need to develop their skills and talents and build capacity in their careers of choice.

SOURCE: https://brandspurng.com/2019/03/22/gtbank-builds-nigerias-first-digital-play-centre-for-children/

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, Thursday projected that the Nigerian economy would grow by three per cent in 2019, higher than the 1.93 per cent it achieved in 2018.

Emefiele also said the central bank would continue to maintain a tight monetary policy stance to rein in inflation which he said was expected to rise to 12 per cent in the course of the year before moderating.

This is coming as the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, has called for higher tax compliance in the country, stressing that in order to stimulate economic growth, all hands must be on deck to support the policies of government through partnership.

The CBN governor spoke while setting the post-election agenda for monetary policy, at the Business Day Post Election Outlook Conference in Lagos.

The Monetary Policy Committee of the CBN which is expected to meet next week, has left the benchmark interest rate at 14 per cent since 2016.

Speaking further, the CBN governor expressed optimism that the Nigerian economy post-May 2019, would witness positive growth that would help in reducing the current level of unemployment in the country.

He, however, noted that the apex bank would adjust the policy rate in line with unfolding conditions and outlook. Inflation figures released by the National Bureau of Statistics (NBS) showed a moderate decline in the Consumer Price Index in February to 11.31 per cent.

While basing the inflationary projection on productivity gains in the agricultural and manufacturing sectors, he anticipated that the GDP would pick up in the first half of the year, owing largely to continued efforts at driving indigenous production in high-impact real sector activities.

On the exchange rate policy, he said the apex bank, in spite of expected pressure from the volatility in the crude oil markets, would maintain its stable exchange rate over the next year. “gross stability is projected in the foreign exchange market, given increased oil production and contained import bill.”

Emefiele expressed optimism that the country’s Balance of Payments would remain positive in the short-term, adding that the current account balance could improve further if oil prices continued to recover.

He noted that this would be, “supported by improved non-oil performance as diversification efforts begin to yield results to reduce undue imports.”

While warning that the issues that led to the economic crisis between 2015 and 2017 remained visible, Emefiele stressed the need to increase the country’s policy buffers, including fiscal measure, to increase its external reserve.

He also reiterated the need to diversify the revenue structure of the federal government, in order to reduce dependence on direct proceeds from the sale of crude oil.

Furthermore, he advised that cheap financing be provided to boost local production of priority goods in critical sectors of the economy in order to reduce reliance on foreign imports.

Emefiele, who also used the platform to highlight efforts made by the CBN in the past five years in monetary policy and development finance, disclosed that the weakening of the naira impacted the balance sheets of domestic banks. However, he said the Bank took measures such as monitoring the financial position and performance of supervised institutions and the assessment of the risk profile and governance management practices of banks, to guarantee financial stability.

He listed other efforts carried out by the bank to ensure financial system stability and the promotion of sustainable economic development to include the establishment of the investors and exporters’ window; conservation of foreign exchange through the restriction of access to foreign exchange on 43 items; and increased lending to the agricultural and manufacturing sectors.

The governor, while soliciting continued support of policy measures that restrict import of items that could be produced in Nigeria as well as increased penalty for smuggling of restricted items in Nigeria, expressed optimism that the Nigerian economy in post-May 2019 would witness growth and reduced unemployment.

Enelamah Seeks Increased Tax Compliance

On his part, Enelamah noted that in order to stimulate economic growth, all hands must be on deck to support the policies of government through partnership.

He also called for a higher tax compliance in the country. According to him, the government was already taking steps to ensure that it generates enough revenue outside oil to ensure growth and development, adding that it requires the cooperation of the citizens.

“There is no doubt that we need to focus on growing revenue as a government, six, seven or eight per cent of GDP is not good enough. In my view if we all chose to pay our taxes or handle the tax issue in a way that was more effective, we will be better.

“The people who should be paying taxes are not paying. Most of us are not paying. The ones that are paying are the companies or the ones that are on our records. I do think that there are many strategies that can be used to improve tax collection and improve the social contract between the government and taxpayers and the government is looking at that and I think we would see better results.

“If you look at other countries, whether developed or developing countries, everybody is in double digit in terms of tax revenue collection to GDP, Nigeria is still doing single digit and there is no explanation that would suffice.

“In Nigeria we say government has been providing infrastructure why should we be paying taxes. Well I think we need a new social contract, if we are building infrastructure, we should be paying taxes,” the minister said.

“If you look at other countries, whether developed or developing countries, everybody is in double digit in terms of tax revenue collection to GDP, Nigeria is still doing single digit and there is no explanation that would suffice.

“In Nigeria we say government has been providing infrastructure why should we be paying taxes. Well I think we need a new social contract, if we are building infrastructure, we should be paying taxes,” the minister said. a new social contract, if we are building infrastructure, we should be paying taxes,” the minister said.

SOURCE: https://brandspurng.com/2019/03/22/cbn-chairman-tips-nigerias-economy-to-grow-by-3-percent-in-2019/

Dangote Petroleum Refinery & Petrochemicals Company yesterday flagged off a vocational training scheme that will inculcate necessary skills in the young men and women from the Ibeju-Lekki area of its operation to make them marketable.

Mr Devakumar Edwin, Dangote Group Executive Director, Capital Projects, who argued that the training is aimed at making youths from its host communities employable, said the initiative is a demonstration of Dangote Refinery’s commitment towards capacity building and youth empowerment in the country.

The vocational skills, which was launched in collaboration with the National Directorate of Employment (NDE) and the Nigerian Content Development and Monitoring Board (NCDMB) was designed to cover plumbing, masonry, welding, iron bending, auto mechanics and electrical works.

Edwin stated that the scheme geared towards instant value addition to the lives of the youths and their communities will the equip young men with trade skills that would prepare them for better opportunities.

At the ceremony, which was attended by top Obas and community leaders including the Oba of Lagos, Oba Rilwan Akiolu and all the Baales in the host communities, the Dangote Group boss said the company would continue to invest in projects that would add value to the lives of the people in the communities hosting its facilities across the country.

At Dangote Industries Limited, our Corporate Social Responsibility projects are centred around the development and wellbeing of the people, especially our host communities. In Ibeju Lekki, we have executed several projects that are enhancing the lives of the people. We have provided boreholes for all the communities, classrooms for the local school, and we just awarded scholarships to 51 secondary school students.

“This programme is another level of our intervention as it is targeted at providing vocational skills to the teeming youth population in our host communities. The youths are veritable assets in any society and the quality of the youths determines the outlook of tomorrow’s society. Therefore, an investment in developing vocational skills among youths will yield the desired results,” he said.

Engr. Frank Ibi, the Manager, Projects Certification and Authorisation Division (PCAD), NCDMB, who represented the Executive Secretary, Engr. Simbi Wabote, commended Dangote Refinery on its achievement and underlined that Nigerian Content is geared to promote domiciliation of value-adding activities and utilisation of Nigerian human and material resources.

He said the Board’s mandate is to ensure that training resources and efforts are devoted to providing young Nigerians with specialised skills and certifications needed to get employment.

Engr. Ibi commended Dangote’s commitment to NDCMB Human Capacity Development Initiatives, which he believed would provide a platform for the youths to contribute to Nigeria’s economic development.

In his remarks, Oba Akiolu said the programme was unprecedented in that the company was yet to start operation but yet decided to empower the youths from the area to make them employable.

The Monarch then encouraged the youths to utilize the skills which they will acquire through the training programme. The monarch, who commended Dangote Refinery for its unwavering support to community development initiatives in Lagos State, emphasized the need for the youths to work hard and be close to God.

Also, the Oba of Epe Land, Oba Kamorudeen Ishola Animashaun commended Aliko Dangote for bringing development to the communities through his investment in refinery and petrochemicals and urged other Nigerians of means to invest locally and lift the economy of the people at the grassroot.

The Chairman, Lekki Local Council Development Area, Barrister Ogidan Olaitan, who was the chief host, said the inauguration of the skills acquisition programme was a fulfilment of Dangote’s promise to the host communities and a step in the right direction.

According to him, the company promised the award of scholarship to students in the host communities, and noted that this was fulfilled through the award of scholarship to secondary school students last week. He called on the company to assist the communities with science and technology specialized schools.

The excited beneficiaries expressed happiness at the flag off of the scheme, saying the programme would go a long way at equipping them with necessary skills required for latest vocational job techniques and thanked the management of the Dangote Refinery for being a responsible corporate citizen.

SOURCE: https://brandspurng.com/2019/03/21/dangote-refinery-begins-youths-empowerment/

Procter & Gamble was the UK’s biggest spender in traditional advertising in 2018. Sky overtook the consumer goods corporation in 2017 but now comes in at second place.

McDonald’s Restaurants was the third biggest spender, jumping from fifth place in 2018, with advertising spend having increased by 28%.

McDonald’s spend increased from £95.6m in 2017 to £122.6m in 2018, overtaking BT (down 5.6% to £109.3m) and Unilever (down 29.2% to £82.8m) – the first time that Unilever has fallen out of the top three advertisers in the last five years.

Other significant movers include Amazon, which increased advertising spend by 18% (£74m to £87.5m), and Compare the Market (up 30% to £62.2m) and Camelot Lottery (up 40% to £53.3m).

Sky (down 30% to £124m) had the biggest decline among the top spenders. In terms of supermarket retailers, Asda has risen into the top 10, showing double digit percentage increase in advertising spend. Meanwhile, Sainsbury’s dropped from the Top 100, with Tesco, Morrisons, Aldi and Lidl also showing to have reduced their spend in 2018.

With traditional advertising spend down 1.41% from 2017, our latest data highlights the changing advertising strategies from the biggest brands and retailers. However, it’s interesting that the rise and fall of advertising spend doesn’t seem to be consistent within sectors. While most supermarket retailers have opted to reduce spend, Asda and Tesco increased their spend, and this is the same for finance, with HSBC and Natwest dropping spend but many others continuing to show increases in year-on-year spend. There are many factors influencing this, from hardening budgets due to Brexit, to competition within the sector. There are likely to be some interesting times ahead.

SOURCE: https://brandspurng.com/2019/03/21/pg-takes-top-spot-as-largest-ad-spender/

The States Disaggregated Mining and Quarrying Data for 2018 reflected Nigeria produced 55,850,075.43 tonnes of solid minerals. Ogun State produced the highest tonnes of solid minerals among the 36 States and the FCT. The State produced 16,497,405.35 tonnes of solid minerals representing 30% of the total tonnes of solid minerals produced in the year under review.

Kogi and Cross River States followed closely with 15,134,541.35 and 3,493,458.00 tonnes of solid minerals produced representing about 27% and 6% of the total tonnes of the minerals produced while Bayelsa and the Borno States produced the least tonnes of solid minerals with zero and 8,403.30 tonnes of minerals produced respectively.

Limestone is the most produced solid minerals in 2018 with 27,195,278.76 tonnes of minerals representing about 49% of the total tonnes of minerals produced. Granite and Laterite followed closely with 9,627,160.29 and 5,076,092.07 tonnes produced representing 17% and 9% of the total tonnes of minerals produced in 2018. However, Garnet and Ruby are the least produced solid minerals in 2018.

SOURCE: https://brandspurng.com/2019/03/21/ogun-state-produced-the-highest-tons-of-solid-minerals-in-2018-nbs/

The Spirit of Dubai Perfumes has unveiled the world’s most expensive and luxury unisex perfume, Shumukh, valued at Dh4.752 million (₦471m).

Concise News understands that the Spirit of Dubai Perfumes is inspired by the rich and diverse cultural heritage of Dubai.

Earlier, the award-winning brand launched its ‘First generation’ luxury collection in 2015, followed by ‘Second Generation’ Ultra-luxury Collection in 2016.

All products are conceptualized from the seven core elements.

SOURCE:https://brandspurng.com/2019/03/19/the-world-most-expensive-perfume-worth-471-million-naira-unveiled-in-dubai/

Nigerian Breweries Plc (NB) and Cross Boundary Energy have announced the signing of Heineken’s first solar project in Africa.

Cross Boundary Energy will be installing and operating a 650 kW solar plant located at NB’s Ibadan Brewery, the solar energy plant will become operational in 2019.

The landmark project is the first of its kind for Nigeria – a fully-financed solar power purchase agreement for a major Nigerian business customer.

In a statement sent to newsmen by NB Director of Corporate Affairs, Sade Morgan, she stated that Cross Boundary Energy will operate the rooftop facility on behalf of Nigerian Breweries as part of a 15-year solar services agreement.

Under the agreement, NB will only pay for solar power produced, receiving a single monthly bill that incorporates all maintenance, monitoring, insurance and financing costs.

“The solar plant will supply 1GWh annually to the Ibadan brewery at a significant discount to their current cost of power, while reducing the site’s CO2 emissions by over 10,000 tonnes over the lifespan of the plant.”

Jordi Borrut Bel, Managing Director of Nigerian Breweries Plc stated “We are delighted to be a pioneer in the adoption of solar energy in Nigeria. The solar plant will help power our world-class brewery in Ibadan, enabling us to deliver on commitments under our ‘Brewing a Better World’ initiatives and supporting Heineken’s global ‘Drop the C’ programme for renewable energy.”

Heineken’s Drop the C programme for renewable energy aims to grow its share of production related energy sourced from renewables from the current level of 14% to 70% by 2030. “NB’s Brewing a Better World initiative has further targeted a 40% reduction in CO2 emissions by 2030”, according to Martin Kochl, Supply Chain Director, Nigerian Breweries Plc.

Femi Fadugba, Head of Business Development for Cross Boundary Energy said: “We’re excited to be helping Nigerian Breweries go solar and to be providing the site with cleaner, cheaper power with no upfront investment or technical risk. I’m also proud that this flagship project – the first of its kind in Nigeria – will be launched in my family’s hometown of Ibadan.”

Cross Boundary Energy has commissioned TPN to design and build the plant as well as performing operations and maintenance immediately after commissioning. Ruud van Milligen, General Manager for TPN said: “We are grateful that we, as an Energy Solutions partner for Nigerian Breweries, and Cross Boundary Energy can contribute to the renewable goals of Nigerian Breweries with our custom-made energy solutions and best-in-class operations and maintenance operations.”

The plant will support the local employment of at least a dozen engineering, construction and maintenance professionals during installation and the 25+ year lifetime of the system, while supporting the Nigerian Electricity Regulatory Commission’s (NERC) target of having 2,000 MW of power capacity from renewables by 2020.

Through financing packages like the one being offered by Cross Boundary Energy, Nigeria’s renewable energy sector can provide much-needed green jobs, tap global capital, improve access to affordable, reliable power for businesses, and enable Nigeria to fulfill its enormous economic potential. Support for the project has come from Shell Foundation and the Solar Nigeria programme, an initiative implemented by Adam Smith International with funding from UK Aid.

SOURCE: https://brandspurng.com/2019/03/19/nigerian-breweries-pioneers-first-solar-powered-brewery/

In furtherance of its intervention programmes in the agricultural sector of the economy, the Central Bank of Nigeria (CBN) yesterday reeled out measures currently being considered to address the challenges that had stifled the growth of the palm oil industry.

The apex bank said the move was aimed at identifying “promising approaches” to revitalize the sector and enable the country regain its position as one of the leading global producers of palm oil.

Speaking yesterday during a meeting with the governors of the South-south and South-east states, the CBN Governor, Mr. Godwin Emefiele, noted that Nigeria still expends close to $500 million on palm oil importation annually.

He also said the CBN will in due course address challenges in the cocoa, cassava, beef/cattle ranching, dairy and fish sectors.

He said: “We are determined to change this narrative. We intend to support improved production of palm oil to meet not only the domestic needs of the market, but to also increase our exports in order to improve our forex earnings

Present at the stakeholders engagement were Governor of Edo State, Mr. Godwin Obaseki, Governor Udom Emmanuel of Akwa Ibom State and Governor of Abia State, Mr. Okezie Ikpeazu, who all commended the CBN governor for his laudable initiatives towards economic revolution.

However, Emefiele further disclosed that the apex bank will work to encourage viable off taker agreements between farmers and large-scale palm producing companies, adding that loans will be granted through the Anchor Borrower Programme (ABP) and the Commercial Agriculture Credit Scheme (CACS) initiatives at not more than nine per cent interest per annum to identified core borrowers.

He said with an estimated three million hectares of land under cultivation, abundance of suitable arable land, the cooperation of state governments in the oil palm producing zone is desired to make land available to investors with proven financial and technical capabilities, who will be able to support developments of large scale palm oil plantations in the country.

He, however, disclosed that all the states in the South-south and South- east regions have already agreed to provide at least 100,000 hectares for the initiative, which is also designed to accommodate the small holder farmers.

Emefiele also emphasised that the renewed focus by the CBN to support improved growth in the agriculture and manufacturing sectors was “clearly in line with the federal government’s determination to diversify the base of Nigeria’s economy away from a reliance on crude oil, so as to insulate the economy from the vagaries and shocks associated with volatility in crude oil prices.”

He also reiterated the resolve of the bank to deal with unrepentant smugglers who are bent on frustrating its efforts to revive key sectors of the economy as well as create jobs for Nigerians.

He said: “Let me stress that we are not unmindful that our current focus to make life difficult for smugglers of the products being targeted under our intervention will be resisted by unpatriotic and recalcitrant beneficiaries of the status quo.

“We will not be deterred by their criticisms but will appeal to Nigerians to support these initiatives. No doubt, there will be initial pain caused by this new focus, but the medium and long run benefits remain unassailable and glorious for our dear country.”

He added: “Soon every region of our beloved country will feel the positive impact of our intervention in the agricultural sector.

“These efforts we hope will not only enable us to conserve our foreign exchange, but also create jobs on a mass scale. As these measures begin to bear fruits, we are very optimistic that our states will become more economically viable, given the massive economic activities that will occur from catalysing activities in our agricultural and manufacturing sectors.

“Although the economy has recorded some investments in the oil palm value chain over the last three years, these investments fall short of our expectations, and our expected target of self-sufficiency in oil palm production is far from being achieved.

“Prospective investors, both local and foreign, have at different fora identified the factors preventing investments in the sector to include, among others, difficulty in acquiring farmlands and the dearth of long term funding sources at affordable costs.”

According to him, the stakeholders’ engagement had been expanded to include executive governors and other top government functionaries from the oil palm producing states to elicit their buy-in and set a partnership model that would, with immediate effect, stimulate investments in the palm oil plantations, such that within the next three to five years, the global share of the country’s oil palm production would more than double.

“Our ultimate vision is to overtake Thailand and Columbia to become the 3rd largest producer over the next few years,” Emefiele added.

Lamenting the shortcomings of the oil palm value chain, he said: “As some of you may recall, in the late 50’s and 60’s, Nigeria was not only the world’s leading producer of palm oil, it was also the largest exporter of palm oil, with close to 40 per cent of the global market share.

“Today we are a distant 5th among leading producers of palm oil; we barely produce up to three per cent of the global supply of palm oil, with estimated production of 800,000 metric tonnes (MT) of palm oil, while countries like Malaysia and Indonesia produce 25million and 41 million tonnes of palm oil respectively.”

Continuing, he said: “We have also become a net importer of palm oil, importing between 400,000 – 600,000 MT of palm oil in order to meet local demand for this commodity. Despite the availability of over 3m hectares of farmland for palm oil cultivation, production remains low at close to two tonnes per hectare, relative to a global benchmark of 25 tonnes per hectare.

“This is as a result of the maturation of existing palm trees, as some of these trees were planted in the 50’s, as well as low investment in replanting high yielding palm oil seeds. As some of you may know, the usual life cycle for optimum palm production is 25 years.

“Ladies and gentlemen, if we had kept pace with our peers in supporting improved cultivation of palm oil, at the current global market price of $600 per tonne, and an assumed production level of 16m tonnes, Nigeria could have generated close to $10 billion worth of foreign exchange for the country. This analysis does not take into consideration the amount of jobs that could have been created in our rural communities from large scale small holder developments.

“This conversation is indeed important as it forms part of our overall strategy to reduce our reliance on crude oil imports, diversify the productive base of our economy, create jobs and conserve our foreign exchange. Despite placing oil palm in the forex exclusion list, official figures indicate that importation of palm oil had declined by about 40 per cent from the peak of 506,000 MT in 2014 to 302,000 MT in 2017.”

SOURCE: https://brandspurng.com/2019/03/19/cbn-to-support-palm-oil-producers-with-funding-at-9-percent-interest-rate/

Stanbic IBTC Holdings and its parent company, Standard Bank Group of South Africa, have partnered with Eland Oil & Gas, on a new accordion facility and increased borrowing base of $50 million (about N18 billion).

The facility is being underwritten by Stanbic IBTC Bank and Standard Bank while Stanbic IBTC Capital Limited will act as a joint book runner. An accordion facility is essentially an incremental facility, which allows a borrower to take an additional facility over and above what was originally agreed with the financier on the same terms as the original facility for expansion purposes.

In November 2018, Eland Oil & Gas, an oil and gas production and development company operating in West Africa with an initial focus on Nigeria, had announced that it had successfully refinanced its existing reserve-based lending facility with a new five-year syndicated RBL facility in an amount of $75 million, with the option to increase it to up to $200 million via an accordion, subject to incremental production and reserves.

Stanbic IBTC stated that the deal was an opportunity to support Eland Oil & Gas’ business expansion drive in the oil and gas industry.

Stanbic IBTC stated that it would continue to leverage its excellent investment banking pedigree as well as the strength of its franchise in the Standard Bank Group, the largest financial institution in Africa, to consummate such big ticket deals that will not only help businesses grow but also help deepen key industries.

Stanbic IBTC reiterated its commitment, in line with the Stanbic IBTC Group’s value proposition and investment banking pedigree, to continue to assist businesses with high quality advisory and arranging services that will enhance their growth and expansion prospects by providing access to a diverse range of financing options.

The oil and gas company announced that following a redetermination, the borrowing base amount increased from $103 million to $134 million and an initial accordion increase of $50 million is being underwritten by Standard Bank of South Africa and Stanbic IBTC Bank PLC, resulting in the commitments under the facility increasing from $75 million to $125 million. Of the commitments, $50 million is currently drawn.

Chief Financial Officer, Eland Oil & Gas, Ron Bain, who spoke on the deal, said the large increase in borrowing base on the company’s RBL facility, demonstrates the hugely accretive quality of the new wells drilled on the OML 40 asset and the growth in value they bring to shareholders.

“Since refinancing the RBL in 2018 into a longer-term facility, we have the flexibility to diversify the capital structure of the company leveraging our position comfortably within our debt parameters and lowering the overall cost of capital,” Bain said.

Standard Advisory London Limited and Stanbic IBTC Capital Limited, as book runners, have been mandated to manage the primary syndication of the initial accordion increase. Principal repayments are expected to commence in the fourth quarter of 2019. This is consistent with the statement in the November RNS that there is a one-year grace period on principal repayments from execution of the facility, which occurred last November.

SOURCE: https://brandspurng.com/2019/03/18/stanbic-ibtc-eland-oil-and-gas-partner-in-50-million-deal/

A total turnover of 1.113 billion shares worth N13.465 billion in 15,036 deals were traded this week by investors on the floor of the Exchange in contrast to a total of 1.290 billion shares valued at N13.873 billion that exchanged hands last week in 17,307 deals.

The Financial Services Industry (measured by volume) led the activity chart with 926.286 million shares valued at N9.696 billion traded in 9,906 deals; thus contributing 83.25% and 72.01% to the total equity turnover volume and value respectively. The ICT Industry followed with 73.076 million shares worth N14.664 million in 35 deals. The third place was the Consumer Goods Industry with a turnover of 36.749 million shares worth N2.562 billion in 2,301 deals.

Trading in the Top Three Equities namely, FBN Holdings Plc, Zenith Bank Plc and Diamond Bank Plc (measured by volume) accounted for 551.865 million shares worth N6.602 billion in 3,116 deals, contributing 49.60% and 49.03% to the total equity turnover volume and value respectively.

Also traded during the week were a total of 10,598 units of Exchange Traded Products (ETPs) valued at N1.355 million executed in 5 deals compared with a total of 2,971 units valued at N766,883.30 that was transacted last week in 7 deals.

A total of 201units of Federal Government Bonds valued at N205,083.12 were traded this week in 2 deals compared with a total of 15,496 units valued at N15.750 million transacted last week in 12 deals.

The NSE All-Share Index and Market Capitalization depreciated by 2.45% to close the week at 31,142.72 and N11.614 trillion respectively.

Similarly, all other indices finished lower with the exception of the NSE ASeM and NSE Oil/Gas indices which appreciated by 0.21% and 0.09% respectively.

Eighteen (18) equities appreciated in price during the week, lower than twenty-four (24) in the previous week. Forty-five (45) equities depreciated in price, higher than thirty-seven (37) equities of the previous week, while one hundred and five (105) equities remained unchanged lower than one hundred and seven (107) equities recorded in the preceding week.

SOURCE: https://brandspurng.com/2019/03/17/equity-turnover-drops-to-n13-5bn-in-5-days/

Bolanle Austen-Peters (BAP) Productions, blazing a trail in Nigerian theatre and musicals at it takes the world-renowned story of Fela Kuti to the South African State Theatre. Fela and the Kalakuta Queens will be on South Africa’s stage from 27th March until 7th April 2019. This comes after a successful premiere of the powerful musical production at the state-of-the-art Terra Kulture Arena in Victoria Island, Lagos, Nigeria.

According to the Director, Mrs Bolanle Austen-Peters; 

“This is a phenomenal Development. It is gratifying to know that my production is the first ever musical from Nigeria to be showcased by the South African State Theatre. This is a validation that Nigerian theatre and musicals have come to stay. In line with the Federal Government’s desire to export non-oil products, the theatre has emerged as one sector that is living up to that expectation. With over 60 people being taken to South Africa. This is indeed new dawn.”

Speaking further, Austen-Peters said 

“Nigerians form a strong community in promoting Nigerian and African culture in notable cities around the globe. We believe that a historic and cultural production like Fela and the Kalakuta Queens will be received well in South Africa – considering Fela’s iconic status and the increasing interest in afrobeat internationally,” Peters reiterated.

Also commenting on the play, Artistic Director of the State Theatre, Aubrey Sekhabi comments; 

“We have a thriving community representing the diaspora in Pretoria and believe that this will bring them out for theatrical entertainment. While entertaining and spectacular, the story of Fela Kuti and the Kalakuta Queens is a timeless critique of post-independence Africa, with strong commentary about greed, corruption, abuse of power, underdevelopment and African leaders’ relationships with their former colonial masters. The message in the music was as relevant during Fela’s time as it is today.”

In line with the theatre’s Pan African outlook, the musical presented chronicles of the complicated life and times of the late legendary musician, Fela Anikulapo Kuti, also known as Fela Kuti, or simply Fela.  From birth to life as a defiant and uncompromising social activist, a flamboyant musical maestro and his historic marriage to his 27 wives (known as the Queens), the story of Fela and his Kalakuta Queens is a compelling one, while at the same time deeply moving and emotionally engaging. It travels through the honest and selfless love the icon had with his dancers (Queens) who left their homes to follow him, believing in his vision of building a better commu

SOURCE: https://brandspurng.com/2019/03/16/bap-productions-takes-fela-kuti-musical-to-south-africa/

The National Assembly has passed a new law, the National Housing Fund (Establishment) Act 2018.

The key provisions of the Bill include the following:

Mandatory 2.5% contribution of monthly income by employees earning minimum wage and above in public and private sectors2.5% of income by self-employed individuals2.5% on cement, locally produced or importedEmployers are to deduct and remit the contributions monthlyThe penalty for non-compliance of up to N100 million for corporates and N10m for individualsSanctions include cancellation of operating licence of banks, insurance companies and PFAs for violationsWithdrawal by contributors who have attained the age of 60 years or 35 years of service to be at an interest rate of 2% per annumThe Fund and any refund of contributions are exempted from payment of taxes

10 reasons why the proposed law is a bad idea:

The contribution is regressive as it taxes the poor more than the rich. For instance, minimum wage earners will pay about 250% of their personal income tax (PAYE) to the NHF monthlyMaking all employers liable to deduct and remit the contributions monthly (without a threshold) will worsen the ease of doing business and Nigeria’s paying taxes rankingCost of borrowing will increase as banks are required to invest a minimum of 10% of their profits at 1% above current deposit ratesIncreasing the tax burden without addressing other fundamental issues like land regulation, REITS framework etc is not consistent with the 2017 National Tax PolicyImposition of the 2.5% levy on cement is a tax on property development which will make housing even less affordableThe 12 years statute of limitation is too long, this increases the risk to employers and encourages laxity on the part of the governmentThe penalty regime is draconian, excessive and not commensurate with the violationsThe requirement for PFAs to invest pension funds in the scheme means fewer returns for pension contributors which will erode value for pensionersThe return of 2% per annum for contributors withdrawing after attaining 60 years of age or 35 years of service is far below the inflation rate and grossly insufficient to compensate for the time value of moneyThe exemption from tax clause is badly worded, it means refunds are exempt but contributions are taxable.

The National Housing Fund (NHF) was established by the NHF Act of 1992 to facilitate the mobilisation of funds for the provision of affordable housing for Nigerians. Unfortunately, 27 years after, affordable housing for Nigerians remains a dream.

While the proposed law may be well-intentioned, availability of funds will not of itself address the myriad of challenges facing the housing sector which centre mostly on policy and regulations. Nigeria should, therefore, adopt a holistic approach to the issue of which affordable financing is only a component. The fact that there is no marked progress to show for the 27 years of establishing the NHF is proof that Nigeria’s housing problem cannot be solved by simply throwing more money at the problem.

SOURCE: https://brandspurng.com/2019/03/16/national-assembly-passes-new-housing-law-to-impose-over-200-of-personal-income-tax-on-low-income-earners/

Results released today by the Government of Nigeria indicate a national HIV prevalence in Nigeria of 1.4% among adults aged 15–49 years. Previous estimates had indicated a national HIV prevalence of 2.8%. UNAIDS and the National Agency for the Control of AIDS estimate that there are 1.9 million people living with HIV in Nigeria.

Speaking in Abuja, Nigeria, the President of Nigeria, Muhammadu Buhari, welcomed the news that there are fewer people living with HIV in the country than previously estimated and launched the Revised National HIV and AIDS Strategic Framework 2019–2021, which will guide the country’s future response to the epidemic. Nigeria has made good progress in scaling up HIV treatment and prevention services in recent years.

“For the first time, the end of AIDS as a public health threat by 2030 is truly in sight for our country,” said H.E. Muhammadu Buhari, President of Nigeria. “I urge all of us not to relent but to increase the momentum. Let us work collectively and push for the last mile.”

The data from the Nigeria National HIV/AIDS Indicator and Impact Survey (NAIIS) are based on a revised and enhanced methodology. The survey provides a clearer understanding of Nigeria’s HIV epidemic and shines a light on progress and the remaining gaps and challenges.

The Executive Director of UNAIDS, Michel Sidibé, welcomed the new estimates and said the improved understanding of the country’s HIV epidemic would allow Nigeria to better reach people living with HIV and people at higher risk of acquiring HIV.

“I commend the Government of Nigeria and its partners for conducting this ambitious survey, which provides us with a much better understanding of the country’s HIV epidemic,” said Mr Sidibé.“While it is fantastic news that there are fewer people living with HIV in Nigeria than previously thought, we must not let down our guard. Let us use the results of this survey to better focus our delivery of HIV prevention, treatment and care services to the people in the greatest need and ensure that Nigeria gets on track to end the AIDS epidemic by 2030.”

While Nigeria’s national HIV prevalence is 1.4% among adults aged 15–49 years, women aged 15–49 years are more than twice as likely to be living with HIV than men (1.9% versus 0.9%.) The difference in HIV prevalence between women and men is greatest among younger adults, with young women aged 20–24 years more than three times as likely to be living with HIV as young men in the same age group. Among children aged 0–14 years, HIV prevalence according to the new data is 0.2%. Significant efforts have been made in recent years to stop new HIV infections among children.

At the national level, viral suppression among people living with HIV aged 15–49 years stands at 42.3% (45.3% among women and 34.5% among men). When people living with HIV are virally suppressed they remain healthy and transmission of the virus is prevented.

The improved understanding of the country’s HIV epidemic will allow for more efficient investments in the response to HIV and more effective planning for the provision of HIV prevention, care and treatment services, including a focus on key populations, such as female sex workers. It will permit the adoption of a population–location approach to deliver services to the people and areas where they are most needed.

The new data differentiate HIV prevalence by state, indicating an epidemic that is having a greater impact in certain areas of the country. The South-South zone of the country has the highest HIV prevalence, at 3.1% among adults aged 15–49 years. HIV prevalence is also high in the North Central zone (2.0%) and in the South East zone (1.9%). HIV prevalence is lower in the South West zone (1.1%), the North East zone (1.1%) and the North West zone (0.6%).

“The Nigeria National HIV/AIDS Indicator and Impact Survey (NAIIS) findings provide Nigeria with an accurate national HIV prevalence measure of 1.4%. NAIIS also showed we are able to effectively provide antiretroviral treatment,” said Isaac F. Adewole, Nigeria’s Minister of Health.“Everyone infected with HIV needs to get treatment so they can achieve viral suppression, especially pregnant women. We must ensure pregnant women have access to antenatal services and are tested during every pregnancy. We know we can support HIV-positive mothers, hence ensuring the next generation is free from HIV.”

Nigeria has shown steady progress on increasing access to treatment for people living with HIV, with the adoption of a test and treat policy in 2016. This measure has further accelerated referrals to treatment facilities for people who test positive for the virus. From 2010 to 2017, the country almost tripled the number of people living with HIV having access to antiretroviral therapy, up from 360 000 people in 2010 to more than 1 million people in 2018. However, the new estimates released today indicate that more than half of people living with HIV still do not have suppressed viral loads.

The new data are more accurate as they are based on an expanded surveillance system and a revised and enhanced methodology. In recent years, there has been a significant expansion in the country’s response to HIV. The number of sites providing treatment has more than tripled, the number of sites providing services to prevent mother-to-child transmission of HIV has increased eightfold and the number of HIV counselling and testing sites has increased fourfold. A total of 11.3 million adults were counselled and tested for HIV in 2016, four times as many as in 2012.

“It is important that all people living with HIV get treatment and achieve viral suppression. To halt the epidemic, we need to act now,” said Sani Aliyu, Director-General of the National Agency for the Control of AIDS. “As a government working with our partners, we have what it takes to support people who are HIV-positive, to provide treatment, to protect their families and to help people live long and healthy lives.”

The NAIIS was led by the Government of Nigeria through the Federal Ministry of Health and the National Agency for the Control of AIDS. UNAIDS, the United States President’s Emergency Plan for AIDS Relief and the Global Fund to Fight AIDS, Tuberculosis and Malaria provided support for the work on the survey, which was overseen by the United States Centers for Disease Control and Prevention and implemented by the University of Maryland, Baltimore, with a scope that included all 36 states and the Federal Capital Territory of Nigeria. The survey reached around 220 000 people in about 100 000 households. Fieldwork was conducted between July and December 2018.

SOURCE: https://brandspurng.com/2019/03/15/nigerias-hiv-aids-prevalence-rate-drops-to-1-4-from-2-8-unaids/

Sheraton Hotels & Resorts, Marriott International’s most global brand continues its transformation journey with a nod to its timeless pioneering legacy, as it unveils a new logo that pays homage to its past and depicts its vision for the future.

The new design reflects the brand’s holistic vision for the future, making Sheraton the central gathering place of communities around the world, welcoming guests and locals into a public space that embodies the modern town square vibe.

“The logo’s evolution reflects the renewed energy and firm commitment we are making to our owners and guests to the resurgence of this iconic brand.  More than a logo, this is a symbolic statement of Sheraton’s vision for our new guest experience,” said Mara Hannula, Vice President, Global Brand Marketing, Classic Premium Brands. “This was the final piece of the redesign puzzle and offers a modernized look and feel to match our reimagined spaces while maintaining the powerful equity and recognition of the original logo.”

The new Sheraton experience will be available to guests later this year in Phoenix. The transformed 1,000-room Sheraton Grand Phoenix hotel which the company purchased in 2018 will bring to life the first of Sheraton’s full on-strategy hotel along with other exciting innovations.  The hotel will serve as a living and breathing lab, showcasing design and activations, using new technology and insights that bring a unique community vibe to space.

“We are excited to introduce the new direction of the brand’s iconic symbol in the Middle East and Africa, where Sheraton has nurtured long-standing relationships with guests, owners and communities for over 50 years,” said Sandra Schulze-Potgieter, Vice President Premium & Select Brands, Marriott International Middle East and Africa. “In line with the transformation of the brand, we are excited to showcase our early adopter properties soon, the Sheraton Jeddah Hotel and Sheraton Grand Hotel, Dubai.”
The new logo has been redesigned to signal an eye to the future while also hearkening back to Sheraton’s history. The new logo reimagines the signature laurel as the movement from the world and the energy of gathering, which point to the modernized Sheraton “S” redrawn at the centre.  Guests will start to see the new logo on collateral and websites starting in April.

In celebration of this moment for the brand, Sheraton associates across the world are kicking off on March 13 internal rallies to commemorate this milestone and the new Sheraton service and culture strategy, recommitting themselves to the brand and to reestablishing its place at the heart of the global community.



SOURCE: https://brandspurng.com/2019/03/14/sheraton-unveils-new-logo-marking-transformation-milestone/

In a bid to deepen engagement with consumers and improve brand experience, the telecommunications company, 9mobile is offering Nigerians the opportunity to use WhatsApp chat free of charge on its network.

With this unique offer, customers upon purchase of their preferred data bundles using the code *200*3*1# will be able to use their data plans for other purposes while enjoying WhatsApp chat free of charge.

The offer is the first-of-its-kind in Nigeria’s telecom market and it is available to 9mobile subscribers on both prepaid and postpaid/hybrid packages. With the 9mobile free WhatsApp offer, customers can connect more with family and friends; businesses are also not left out as business customers can also benefit from the offer to connect with colleagues and clients. 9mobile free WhatsApp offer includes text, images, video and other multimedia content sharing, excluding voice calls, video calls and status updates.

Speaking on the offer, Vice President, Marketing, 9mobile, Adebisi Idowu, said the free WhatsApp offer affirms the telco’s unwavering commitment to rewarding its customers for their loyalty and providing them greater access to platforms that help foster closer relationships with their loved ones.

He said, “You will recall that in our 2018 end-of-year message, our Acting Managing Director, Stephane Beuvelet, made some promises to our customers including the deployment of an array of innovative brand loyalty reward programmes this year.

This is one of such initiatives to appreciate our customers and to reinforce the fact that we are a caring brand that is always on the lookout for our customer’s well-being.”

Idowu added that “The WhatsApp offer is certainly a novel one as it allows our customers to put their data to other users while they enjoy chatting and bonding with friends and loved ones on WhatsApp for free. The offer also empowers customers to promote their businesses using WhatsApp as data which would have been used up on WhatsApp can now be used for other things with the free WhatsApp offer by 9mobile. This gives customers more value for their money. By doing this, we are fulfilling yet another promise to enable our customers do more without hassles.”

SOURCE: https://brandspurng.com/2019/03/14/9mobile-offers-subscribers-free-whatsapp-service/

Dangote Fertilizer Limited has entered into a long-term agreement with Chevron Nigeria Limited (CNL) for the delivery of Liquefied Natural Gas (LNG) from Chevron’s supply portfolio to the fertilizer plant, which is poised to start operations soon.

The contract, under the Gas Sale and Aggregation Agreement (GSAA) is part of International Oil Company (IOC)’s gas obligation to the domestic market through the Gas Aggregation Company Limited (GACN).

Speaking at the signing ceremony in Lagos yesterday, Group Executive Director, Strategy, Capital Projects & Portfolio Development, DIL, Devakumar Edwin, commended the Managing Director of GACN for his role in the new business relationship between Dangote Fertilizer Limited and Chevron Nigeria Limited.

He said the company is looking forward to having a long-term relationship with Chevron Nigeria Limited as well as synergies in other upstream and wider areas of operations in the oil and gas sector.

Chairman/Managing Director, CNL, Jeffrey Ewing commended GACN, DPR for helping with the signing of the gas supply agreement.

He said: “We are looking forward to working with Dangote Fertilizer and maintaining a good relationship with the company. This agreement is very important for the country and Chevron is committed to Nigeria’s economic development.”

Morgan Okwoche, the Managing Director/CEO, GACN, expressed delight to be part of the domestic gas agreement.

This is the beginning of fruitful relationship between Dangote Fertilizer Limited, Chevron Nigeria Limited and other parties. I am excited that this is happening during my term in office. You cannot imagine my satisfaction in having this contract signed at this time,” he said.

Head, Gas Monitoring and Regulation Division, DPR, Sanya Bajomo, said: “I am glad that GACN, Chevron and Dangote have signed this gas supply agreement. I want to say that this gas supply agreement is an issue of national interest and what happened today is going to be transmitted to the presidency. I believe everybody is going to benefit from this agreement when the fertilizer plant starts operation.”

SOURCE: https://brandspurng.com/2019/03/14/dangote-sign-an-agreement-with-chevron-on-gas-supply/

Total non-oil export earnings received through the banks in the last quarter of 2018 amounted to $1.16 billion, representing an increase of 1.5 per cent and 85.9 per cent above the levels in the preceding quarter and the corresponding quarter in 2017 respectively.

According to figures from the Central Bank of Nigeria, the development was due, mainly, to the respective increases of 39.1 per cent, 3.7 per cent and 2.5 per cent in earnings from foods products, industrial, and minerals sub-sectors.

A  breakdown of the sectors showed that the proceeds were from minerals, ($657.80 million); manufactured products, ($195.65 million); agricultural sector, ($164.74 million); industrial sector, ($109.51 million); and food products, ($36.43 million).

The percentage shares of minerals, manufactured products, agricultural products, industrial sector and food products in the total non-oil export proceeds were 56.5 per cent, 16.8 per cent, 14.2 per cent, 9.4 per cent and 3.1 per cent, respectively.

The CBN, in its consumer prices report also disclosed that the all-items composite Consumer Price Index (CPI), at the end of December 2018,was 274.6 (November 2009=100), indicating a 2.3 per cent and 11.4 per cent increase over the levels in the third quarter of 2018 and the corresponding period of 2017, respectively.

The development was attributed to increase in both food and non-food categories.

The urban All-items CPI (November 2009=100) was 278.5 at end-December 2018, representing 2.4 per cent and 11.7 per cent increase, compared with the levels at end-September 2018 and end-December 2017, respectively.

The rural all-items CPI (November 2009=100), was 271.4 at end-December 2018, representing 2.2 per cent and 11.2 per cent increase, compared with the levels at end-September 2018 and the corresponding period of 2017, respectively.

The composite food index (with a weight of 50.7 per cent in the CPI basket) was 296.6 at end-December 2018, compared with 289.0 and 261.0, at the end of the preceding quarter and the corresponding period of 2017, respectively.

SOURCE: https://brandspurng.com/2019/03/14/nigerias-non-oil-sector-records-1-16-billion-revenue-in-q418/

After losing $192m (170m euros) in 2018 and facing difficulties in raising additional funds from its current investors, e-commerce giant Jumia is heading to the stock market in order to keep the business afloat.

Jumia is presently putting together an Initial Public Offer (IPO) in New York this year which will reportedly see the business valued at $1.5 billion.

However, reports indicate that some of its current investors are set to divest their stake in the business after it emerged that the MTN Group, Jumia’s biggest shareholder, is looking to raise up to $600 million from the sale of its shares during the IPO.

In addition to mounting losses – Jumia posted a €120.1m loss in 2017 – questions also remain over its Africa-wide strategy after the company cited challenges such as a robbery at its Kenyan warehouse, which saw merchandise worth $560,000 stolen.

In documents filed in New York, Jumia has also declared that it could not guarantee to achieve or to sustain profitability in the future.

Interestingly, Konga, another strong player in the Nigerian e-commerce market, is also set for a major listing on the New York Stock Exchange (NYSE) by the last quarter of 2020.

Although yet to confirmed by the management of Konga who, when contacted, disclosed that it will speak when the time is right, confidential sources within the New York bourse have it that the Konga Group is set for an initial public offering that will see the e-Commerce giant valued at about $3.2b.

Mark Jessey, a prominent stock analyst on NYSE had noted that the proposed Konga IPO is a much sought-after one by investors, many of whom have followed within the last eight months the huge strides and trajectory of the business which came under new ownership after the exit of previous majority investors, Naspers and AB Kinnevik.

“There have been significant investments in critical areas of the Konga Group business portfolio including the omnichannel strategy it pioneered, strong physical presence with a growing chain of retail stores, multiple warehouse facilities, a licensed mobile money/fintech platform and a credible logistics arm with which it has solved the problem of delivery.

These factors have made Konga the pride of potential investors and there is renewed confidence that Konga can re-write the history of e-Commerce in Nigeria and on the African continent,” he concluded.

SOURCE: https://brandspurng.com/2019/03/14/jumia-loses-192m-heads-to-stock-market-for-survival/

FAA supported the grounding saying it had uncovered information in the Ethiopia crash that was similar to the Indonesia crash in October

Donald Trump grounded Boeing’s 737 Max fleet on Wednesday, days after the second fatal crash involving the plane in five months.

Issuing an emergency order, Trump said all 737 Max jets in the US would now be grounded. “Planes that are in the air will be grounded if they are the 737 Max. Will be grounded upon landing at their destination,” Trump told reporters at the White House.

Trump said the safety of the American people and others was of “paramount concern”. He said: “They [Boeing] have to find the problem … and they will find it.”

Ethiopian Airlines said on Thursday an Ethiopian delegation had sent the black boxes from crashed plane to Paris for investigation.

Boeing said it had “full confidence in the safety of the 737 Max” but “out of an abundance of caution and in order to reassure the flying public” it had decided to temporarily suspend the entire fleet.

But a statement from the Federal Aviation Administration (FAA) went further, saying that new information from the wreckage of a 737 crash in Ethiopia had uncovered similarities to an earlier crash of the same variant of 737 in Indonesia in October.

The FAA’s emergency order states that the similarities “warrant further investigation of the possibility of a shared cause for the two incidents that needs to be better understood and addressed”.

The United States had stood virtually alone in allowing the plane to keep flying. On Wednesday, Canada joined a growing list of countries that had grounded the aircraft involved in the Ethiopian Airlines crash that killed 157 people this week.

Boeing and US aviation safety officials at the FAA had resisted mounting pressure from Congress and labor unions to halt operation of the Boeing 737 Max while investigators work to find the cause of the crash. Regulators in the European Union, the United Kingdom, China, Australia and India have restricted the planes from flying. The latest bans came from Egypt, Thailand and Vietnam on Wednesday.

The grounding threatened chaos for US travelers. Dozens of the planes were still airborne at the time of the announcement and future flights will have to be rescheduled until the ban is lifted.

At New York’s LaGuardia airport, three flights to Miami on 737 Max 8s were cancelled, stranding hundreds of American Airlines passengers.

“I’d rather the inconvenience than be on a dangerous airplane,” said Marie Bellamota, a traveller from the Dominican Republic who had her flight cancelled. “I feel upset, and I have to change all my plans but what can I do.”

Other passengers said they were inconvenienced but relieved to not be taking the risk or suffering the anxiety of taking the troubled Boeing.

“I’m glad. I didn’t want to be on that plane anyway,” said Sharon Gentles, who was on her way to Jamaica for a funeral. “I’m happy they grounded them because at least I’m safe.”

A spokesman for American at LaGuardia said that over the past several days the airline had sought to allay customers’ increasing concerns about the 737 by switching them to other flights without imposing additional fees.

Following the planes’ grounding by US regulators, the airline switched passengers to a “special section” plane – a wide-bodied Boeing 777 leaving JFK at 10.30pm. “We’re happy to provide at least some relief by getting them to their destination tonight,” said American’s Justin Franco.

The Ethiopian crash comes just five months after the deadly crash of a new Boeing 737 Max 8 operated by Lion Air in Indonesia, which left 189 people dead. No evidence has yet linked the crashes, but pilots on both planes reported problems moments after takeoff and asked to make emergency landings.

Canada’s transportation minister, Marc Garneau, said the decision to issue a “safety notice” was based on a review of newly available satellite tracking data, which identified similarities between the crash in Ethiopia and the one last year in Indonesia.

Garneau cautioned that the information was “not conclusive” but that “at this point we feel that threshold has been crossed”.

On Tuesday, Boeing CEO, Dennis Muilenburg reportedly spoke with Trump by phone to assure him the planes were safe. The call came after the president complained on Twitter that airplanes have become “far too complex to fly” and suggested that “pilots are no longer needed, but rather computer scientists from MIT”.

But Trump and Boeing had faced mounting pressure to act. Senator Ted Cruz, a Texas Republican who leads a Senate subcommittee overseeing aviation, called on the FAA to ground the planes and promised to hold hearings on the cause of the crash.

“Further investigation may reveal that mechanical issues were not the cause, but until that time, our first priority must be the safety of the flying public,” he said on Tuesday.

Senator Dianne Feinstein, a California Democrat, and the Massachusetts senator Elizabeth Warren, a Democratic presidential candidate, had called for the planes to be grounded. Warren said lawmakers should hold hearings “on whether an administration that famously refused to stand up to Saudi Arabia to protect Boeing arms sales has once again put lives at risk for the same reason”.

Boeing, one of the US’s largest manufactures, is a lobbying powerhouse with deep ties to the White House and Congress. According to OpenSecrets.org, a group that tracks lobbying data, Boeing spent more than $15m on Washington lobbying last year.

Trump’s acting defense secretary, Patrick Shanahan, worked at the company for more than 30 years. On Wednesday, the Citizens for Responsibility and Ethics in Washington filed a complaint with the Department of Defense’s Office of Inspector General alleging that Shanahan violated ethics rules “by promoting Boeing in the scope of his official duties” at the DOD.

The US airline carriers that fly the plane – Southwest, American Airlines and United – on Wednesday said they were complying with the new requirements.

In a statement, Southwest said the airline removed all of its 34 Max 8 aircraft from scheduled service. American, responding to customer questions on Twitter, said it had stopped operating all 24 of its planes of that type and United grounded its 14 737 Max 9 aircraft, which handle about 40 flights per day.

SOURCE: https://brandspurng.com/2019/03/14/donald-trump-follows-lead-of-other-nations-and-grounds-boeing-737-max-planes/