₦airaland Forum

but we try sha.. my view

ooooops!

Commendable... but we still hv a long way to go in the Educational sector.

Lagos State Government has improved water supply in the State and warned residents against illegal connections to public water.

This was contained in a statement issued today by the Corporation’s Managing Director/CEO, Engr. Muminu Adekunle Badmus in his office, Ijora, Lagos.

The LWC boss said the heavy investment of the Governor of Lagos State, His Excellency, Mr. Akinwunmi Ambode on provision and delivery of potable Water supply to the residents of the State has started yielding result, with abundant water supply across the State.

He revealed that the water pipe bursts and leakages being experienced are as a result of infringement on LWC water mains and pipes during road constructions and by telecommunications service providers and illegal connection to LWC properties.

MD advised those working on Lagos roads to work with LWC where its facilities will be affected to prevent unnecessary damages being done to water mains and pipes to water wastages. He, therefore, warned the general public to stay away from fully charged water mains to avert loss of lives.

He further said the Corporation is presently increasing the tempo of production as the major waterworks are now working at their optimal designed capacity, and assured Lagosians that improved and uninterrupted potable water supply in the State has come to stay.

Engr. Badmus commended Governor Ambode for his proactive steps and efforts towards investing heavily on water to boost supply for the State residents and enjoined the general public, especially those that are yet to connect to public water to do so and enjoy water that conforms to World Health Organizations Standards.

While restating the States commitment to serving the people, the LWC boss implored residents to call LWC Customer Care lines on 07045973012, 07045973013 or visit any LWC zonal offices nearest to them for new water connections and report water pipe bursts, leakages, and wastages.

E-mail address: info@lagoswater.org;
Facebook: Lagos Water Corporation;
Twitter: @lagoswater;
lnstagram: Lagos_water.

SOURCE: https://brandspurng.com/lasg-improves-water-supply-warns-against-illegal-connections/

The Nigerian Bureau of Statistics recently published data on the sectoral distribution of Value Added Tax (VAT) for Q4-17. Therein, we observed that total amount generated from VAT had increased by 25.1%y/y from N7.8tn in 2016 to N9.7tn in 2017. Taking a closer look at the three major sources of VAT, locally sourced VAT edged 7.7%y/y, Nigeria Customs Service-Import VAT increased 13.6%y/y while Non-import (Foreign) VAT surged 106.7%y/y.


However, the locally sourced VAT has declined consecutively q/q by 9.2% in Q3-17 and 3.2% in Q4-17 respectively, while Non-import (foreign VAT) increased 20.5% and 10.2% in Q3-17 and Q4-17 respectively. Also, between Q1-17 and Q4-17, the percentage contribution of locally sourced VAT has declined steadily from 61.8% to 47.7% while the contribution of non-import (foreign) has increased steadily from 15.5% to 31.3% respectively. This indicates that foreign sourced VAT has started out crowding locally sourced VAT

On a positive note, increasing total VAT buttresses the recent optimism in the broader economy amid increasing level of consumption expenditure as well as a renewed appetite for foreign-sourced goods and services, buoyed by currency market reforms implemented in Q2-17. Nevertheless, we recommend that tax authorities explore deeply, local value chains, especially among the yet to be captured SMEs, to boost locally sourced VAT.

 

SOURCE: https://brandspurng.com/dissecting-the-source-of-nigerian-vat-as-at-q4-17/

Cool

As Chinese New Year celebrations are underway, we take a look at our insights around Chinese shopping habits, Chinese brand-building, andperceptions from across the world.

Happy Chinese New Year! As we move into the Year of the Dog on 16 February, it’s a good time to reflect on some of the interesting research Kantar has produced recently surrounding China, Chinese consumers, and Chinese brands abroad. Some interesting findings about Chinese New Year itself can be found here.

1. Global brand-builders are innovating

We recently revealed the BrandZ Top 50 Chinese Global Brand Builders, a ranking and report from WPP and Kantar Millward Brown in collaboration with Google. This listed and analyzed the most Powerful Chinese brands (in twelve categories) internationally: Lenovo Group Ltd took the top spot, and Consumer Electronics was the dominant category. But what is setting these brands apart?

Innovation, it seems, is key. Chinese brands are at the forefront of innovation and this is the number one factor attributed to their growth.

The Top 50 contains ten Consumer Electronic brands, including Huawei and Xiaomi, with four such businesses in the top ten (see below). Technology is everywhere, with E-Commerce (e.g. the impressive Alibaba), Mobile Gaming and Consumer Electronics making up 61% of the total ‘Brand Power’ score in this year’s Top 50.

2. Luxury consumption is changing

Kantar Consulting’s Panos Dimitropoulos conducted some research into the luxury goods market in China, and concluded that the (Chinese) perspective on luxury consumption is quickly evolving: from luxury consumption as ‘show off’, associated with bling and sheer materialism as well as social upgrade, exhibitionism and superiority, to more understated and inner cultivation states where genuine appreciation, a sense of inner cultivation, refinement and connoisseurship as well as ethics are becoming the key drivers. What does this mean for brands?

Dimitropoulos comments: ‘A maturing sense of consumption and generic sophistication that influences consumer lifestyles, philosophies and branding trends means that luxury brands need to try harder to convince consumers; brand equity and provenance are not enough, instead brands need to actively do – not just say – in terms of marketing activities. One way of achieving this is by becoming part of the culture and acquiring a leading role in its facilitation and production.’

Millennials are a key market for luxury goods, although may prove to be less brand loyal. Attracted by straightforward e-commerce experiences (and often helped by parents), Chinese millennials are helping the luxury market both in China and abroad.

3. Perceptions of China are shifting

As we reported in January, the world’s perceptions of China are shifting, which is generally good news for Chinese brands.

In the 2016-2017 China National Image Global Survey, by the Academy for Contemporary China-World Studies (former Centre for International Communication Studies under the China Foreign Languages Publishing Administration), Kantar Millward Brown and Lightspeed, China scored 6.22 on the 10-point system of its overall image, maintaining a slight upward curve in recent years. Compared with 2015, the three countries whose score of China rose the most were all developed countries: Italy (up 0.5 points), Canada (up 0.4 points) and the UK (up 0.4 points).

Across the globe, people see China as a big oriental country with a rich history and full of charm: 57% of respondents said this.

In terms of the elements that best represent Chinese culture, 52% of the overseas respondents chose the cuisine, 47% ticked traditional Chinese medicine, and 44% marked off martial arts.

As well as placing emphasis on innovation, China’s Global Brand Builders see themselves as having a higher calling, helping them play their part in building ‘Brand China’ abroad. Chinese state-owned brands have demonstrated their widespread support for the ‘Belt and Road’ initiative, while Banks, Airlines and China’s heavy manufacturing industry are putting their full weight behind China’s ambitious foreign policy.

4. ‘Made in China’ is becoming cool

An interesting finding from the BrandZ ranking and report was that people across the world were becoming more positive in their view of Chinese brands – nowhere more so than the UK.

An important element of being a Global Brand Builder is being able to change perceptions of China and Chinese brands abroad. Doreen Wang, Global Head of BrandZ, Kantar Millward Brown said: ‘Chinese brand builders aren’t just concerned with reaching a wider global audience, they are aiming to change customers’ perceptions too. Brands that succeed in China’s formidably competitive marketplace are not just out-gunning the competition in terms of innovation, they are deploying an equally powerful weapon – branding.’

Wang also notes: ‘China’s brands are particularly well regarded as ‘innovative’. Young people around the world are far more likely to make this association than older age groups. The signature proposition of China’s brands is to combine innovation with value for money, a recipe that is particularly attractive to young people.’

5. The world of FMCG is moving to new channels

Kantar Worldpanel reports that the spend in fresh food in the latest 52 weeks ending November 2017 grew by 38% in e-commerce channels, as more fresh food specialists are expanding their logistics capability and assortment to attract more online shoppers.

In 2017, the WeChat channel achieved a staggering 52% growth and accounted for 1.4% of FMCG spending according to Kantar Worldpanel.  Though still relatively small, it represents a promising growth engine as Tencent began a serious push to open up its platform for developers to build ecommerce stores and a wide range of online services.  As WeChat’s wallet allows users to seamlessly make in-app purchase and social networking allows users to influence each other’s buying decisions, social commerce is also expected to facilitate sales conversion for all stores.

6. Mobile is increasingly important to ‘festivals’

Chinese New Year may be steeped in tradition, but new research from Lightspeed shows that most Chinese people are likely to give the traditional New Year gift of money in red packets via WeChat. This ‘e-red packet’ has become part of the New Year ritual for many, despite only having been introduced in 2014.

Elspeth Cheung, BrandZ Global Valuations Director at Kantar Millward Brown, notes that Chinese New Year may be an important time for supermarkets and hypermarkets, but m-commerce players are only just behind: the likes of JD.com (#14 BrandZ China Top 100 2017) and Tmall (owned by Alibaba, #2 in BrandZ China Top 100 2017) are ‘investing heavily to build logistical capability during the holiday to steal even more sales from traditional grocers.’

Meanwhile, new digital festivals are creating a goldmine of opportunities for brands. Cheung reports that ‘Singles Day 2017 was worth an incredible $25.4bn to Alibaba as consumers celebrated 11-11 by spending money on themselves. Singles Day is now a bigger event financially than Thanksgiving, Black Friday and Cyber Monday in the US – combined!’ And there are more new ‘festivals’ to come. ‘Rival e-commerce platforms have started to look at creating new events around auspicious dates such as 618, 818, Double 12 and even creating a Chinese version of Black Friday, among others.’

‘China now has arguably the world’s most advanced digital ecosystem, one that plays an important role in brand building as well as direct response,’ argues Cheung. ‘Whether it’s digital currencies that work both in store and online, or advanced data services, there are huge opportunities to connect through digital, all through the year.’

 

Source: https://brandspurng.com/6-interesting-facts-about-chinese-brands-and-consumers/

Nigeria’s state oil firm said on Tuesday it had spent $5.8 billion on fuel imports since late 2017, as it combats a fuel shortage that has left people queuing for hours at filling stations and hobbled an already-struggling economy.

“The corporation’s intervention became necessary following the inability of the major and independent marketers to import the product because of the high landing cost which made cost recovery and profitability difficult,” the Nigerian National Petroleum Corporation (NNPC) said in a statement.

The price of gasoline is a highly charged subject in Nigeria, Africa’s largest oil exporter. President Muhammadu Buhari in 2016 raised the top gasoline price to 145 naira ($0.4603) per liter, a 67 percent hike, but did not remove a cap for fear of hurting people on low incomes.

The price cap makes it tough for many importers to profit from gasoline and NNPC has imported as much as 90 percent of the nation’s gasoline needs over the past year. Fuel shortages have gripped much of the country in the last few months.

An economic body that advises Nigeria’s government has been in discussion with the state oil company to determine whether gasoline is appropriately priced in the country, a state governor said last week.

The relatively cheaper cost of Nigerian fuel combined with crude oil price rises in the last few months mean smugglers can make more money selling fuel intended for the Nigerian market across borders, creating shortages in the West African giant.

Nigeria’s refining system means it is almost wholly reliant on imports for the 40 million liters per day of gasoline it consumes.

Efforts by Buhari’s predecessor, Goodluck Jonathan, to end expensive subsidies in 2012 led to riots in the streets because the move would have doubled gasoline prices, angering citizens who see cheap pump prices as the only benefit from living in an oil-rich country.

 
SOURCE: https://brandspurng.com/nigerian-state-oil-firm-spent-5-8-bln-on-fuel-imports-since-late-2017/

hmmmm

Grand masters of Data.

That's all u have to say.

His Excellency, Mr. Akinwunmi Ambode, the Lagos State Governor, has flagged off the electronic tax payment campaign of the state which will allow residents and citizens of Lagos State to pay their taxes directly to the coffers of the State Government. The flag-off campaign was kicked off at the Guaranty Trust Bank, Opebi branch, Lagos on Monday, February 19, 2018.

Speaking at the flag-off ceremony, the Lagos State Governor, Mr. Akinwunmi Ambode noted that this noble effort was implemented so as to help taxpayers make direct deposits to the Government coffers seamlessly.

According to him, “The process in the payment of taxes has seen simplified for the residents and citizens of Lagos State who are the direct beneficiaries of the productive utilization of taxes in the state. All the projects that have either been completed since the commencement of my administration or those that are underway have been done through taxes. Lagosians would henceforth be able to pay their taxes through GTBank branches; the mobile payment and internet banking platforms of all banks.

Commenting on the flag-off of the campaign, Mr Segun Agbaje, the Managing Director of Guaranty Trust Bank plc, said, “The e-tax payment campaign has shown the premium placed on electronic payment by the Lagos State Government and this would equally aid the financial inclusion program of the Central Bank of Nigeria.”

He noted that the elimination of middlemen in the tax payment structure will reduce fraud in tax payment and government would be able to get immediate value for all tax remittance. GTBank is willing to support the government in the collection of all the different taxes payable to the Lagos State Government.

The various forms of taxes and revenues that can be paid at all GTBank branches across the state include Pay as You Earn; Withholding Tax; Land use Charges; Direct Assessment; Development Levy & Business Premise. Others are Tax Audit; Stamp duties; Land Charges; Consent fees; Capital Gains Tax; Survey fees; Registration & Conveyancing fees.

GTBank has consistently played a leading role in Africa’s banking industry. The Bank is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries 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.

SOURCE: https://brandspurng.com/lagos-state-governor-flags-off-e-tax-payment-campaign-at-gtbank/

NIGERIA imported 22,539,823,367 litres of petroleum products in 2017.

According to data obtained from the National Bureau of Statistics’, NBS, the petroleum products importation statistics for 2017 reflected that 17.31 bln litres of premium motor spirits (PMS), 4.28 bln litres of automotive gas oil (AGO), 340.33 mln litres of household kerosene (HHK), 592.73 mln litres of aviation turbine kerosene (ATK) and 15.61 mln litres of low pour fuel oil (LPFO) were imported into the country in 2017.

The petroleum products listed by the NBS included petrol, gas oil, lubricating oil, Black oil and kerosene.

The report noted that the months of July and August 2017 recorded the highest volumes of premium motor spirits (PMS) imported into the country at 1.88 bln litres while the highest volume of automotive gas oil (AGO) and household kerosene (HHK) were imported in March and April 2017 respectively.

Continuing, the report said, “State-wide distribution of truck-out volume for 2017 showed that 18.36bn of premium motor spirits (PMS), 4.75 bln litres of automotive gas oil (AGO), 944.39 mln litres of household kerosene (HHK), 554.61 mln litres of aviation turbine kerosene (ATK) and 127.42 mln litres of low pour fuel oil (LPFO) were distributed nationwide during the period under review.”

SOURCE: https://brandspurng.com/nigeria-imported-17-31-bn-liters-of-petrol-in-2017-nbs/

Coca-cola is set to bring The FIFA World Cup™ trophy to Abuja and Lagos for football loving Nigerians.

According to the organizer, the authentic FIFA World Cup™ Trophy which is currently on tour around the world will arrive Nigeria in March.

As a prelude to the World Cup games in Russia, the Trophy Tour organized by Coca-Cola will visit 91 cities in more than 50 countries and 6 continents. In Nigeria, the original one-of-a-kind solid-gold FIFA World Cup Trophy will be visiting Abuja and Lagos.

Interestingly,  the FIFA World Cup™ Trophy tour will be in Abuja and Lagos State and thousands of consumers will have a one-on-one opportunity to interact with the iconic ‘mother-of-all-trophies’.

Already, the FIFA World Cup™ Trophy is a trending topic on social media with ongoing conversations among consumers. The buzz and anticipation is taking over social media as Coca-Cola is getting fans #ReadyFor all the emotions of the FIFA World Cup.

SOURCE: https://brandspurng.com/coca-cola-to-bring-fifa-world-cup-trophy-to-abuja-lagos/

The apex bank, Central Bank of Nigeria (CBN), has issued new guidelines to all banks including Deposit Money Banks (DMBs) and Discount Houses (DHs), on internal capital generation and dividend payout ratio. The new guidelines, issued via a circular (the Circular) referenced BSD/DIR/GEN/LAB/11/002 and dated 31 January 2018, becomes effective immediately.

Under the new guidelines, banks are now required to ensure that their composite risk rating (CRR), minimum capital adequacy ratio (CAR) and non-performing loan (NPL) ratio are within the prescribed thresholds set out by CBN before dividend can be paid out to shareholders.

Major highlights of the Circular are presented below.

Dividend pay-outCriteriaNo dividend pay-outBanks with “High” CRRNPL ratio of above 10%Restricted to pay-out ratio of 30%Meet the minimum CAR“Above average” CRRNPL ratio greater than 5% but less than 10%Restricted to 75% of profit after taxBanks with CAR of at least 3% above the minimum requirementCRR of “Low”NPL ratio greater than 5% but less than 10%No restrictionMeet the minimum CARCRR of “Low” or “Moderate”NPL ratio of not more than 5%The Board of such institutions are urged to recommend pay-outs based on effective risk assessment and economic realities

In addition to the above, the following are also applicable;

No DMB or DH shall be allowed to pay dividend out of reserves.Banks shall submit their Board approved dividend pay-out policy to the CBN before payment of dividend shall be permitted.

The Circular is an attempt by CBN to address the worrying trend of financial institutions paying out a significant proportion of their profits as dividend, irrespective of their risk profile and without regard to the need to build resilience through adequate capital buffers. It is also expected to engender a culture where banks use retained earnings as an important source of growing their capital.

The post CBN restricts dividend pay-out by banks appeared first on Deloitte Nigeria Blog.


SOURCE: https://brandspurng.com/cbn-restricts-dividend-pay-out-by-banks/

2 Being Spanked As A Child

A study done on children in the US found that kids who had been spanked had lower IQs than their peers who had not.
Researchers tested the cognitive abilities of two groups of children from ages two to four and five to nine. Four years later, they retested the children in each age group.
In the older age group, the kids who had been spanked had an average IQ of almost three points lower than children who had not been spanked. In the younger age group, the average IQ of children who had been spanked was five points lower than those who had not.
Worldwide data also showed that countries where spanking was more prevalent also had a lower average IQ.
One explanation offered for the correlation between spanking and IQ was stress. Researchers say that being swatted as a child can be a chronic stressor for kids, causing them to become easily startled and often fearful. These factors are associated with a lower IQ.
Corporal punishment rates have been declining globally. Scientists believe this will lead to a worldwide increase in average IQs.





1 Dumb TV Shows


Researchers have discovered that when it comes to intelligence, you are what you watch.
While it is fair to say that certain shows are informative, there are plenty of trashy shows that do not offer any educational value. However, in addition to lacking substance, stupid television shows have also been proven to actually make people dumber.
Markus Appel, an Austrian psychologist and professor, tested a group of college students on various subjects. Before administering the test, half the students were given a story about a silly man making all sorts of bad decisions. After reading about the not-so-smart shenanigans of the character, those students performed worse on the tests than the students who had not read the story.
Appel blames the results on “media priming.” Media priming refers to the residual, often unintended, effects of being exposed to media. This can result in changes in behavior, opinions, or intelligence.
This means that watching a reality show with a dumb person on it might seem funny, but their stupidity is contagious




SOURCE : Listverse

3 Obesity


Excess body fat affects the way all of our organs function, including the brain.
Researchers examined the brains of 17 obese women. Their brains metabolized sugars faster than women in the control group, who were at an average weight. The obese women were tested on cognitive function before and after undergoing bariatric surgery.
The results of the testing done after the weight-loss surgery were markedly better than those done before the procedure. The formerly obese women showed particular cognitive improvements in executive functions, which deal with planning and organization.
The brains of obese people process sugars differently that those without excess body fat. It is believed that this difference in processing causes structural damage in the brain, which in turn affects cognitive performance.
Another study of nearly 500 adults showed that overweight people had less white matter than their average-sized peers.
White matter connects different areas of the brain and allows them to communicate with each other. As we age, humans naturally lose white matter. But white matter deteriorates more quickly in an overweight person.
The volume of white matter measured in a 50-year-old obese person was the same as the volume measured in a 60-year-old lean person. Interestingly, the difference in white matter between overweight and average-sized people was only seen in those middle-aged or older. It is believed that we are more vulnerable to losing white matter during this time in our lives.

Certain activities are known to lower our cognitive abilities. No one is going to score their best on an
intelligence test after a few shots of tequila or hits from a bong. Slamming your head repeatedly against a wall is not expected to improve thought processing, either.
But there are also some lesser-known factors that decrease brainpower. Some of these activities only impair intelligence temporarily, while others have been proven to have long-term effects.


10 Dim Lighting

Researchers at Michigan State University have discovered a link between dim lighting and a diminished ability to
remember and learn.
Scientists studied the brains of a group of Nile grass
rats. Like humans, Nile grass rats are active during the day and sleep at night. At the beginning of the study, the rats were trained to find their way through a maze. Then they were split into two groups, with half of the rats being exposed to bright light during the day and the other half being exposed to dim lighting.
After four weeks, the rats exposed only to dim lighting had lost 30 percent of capacity in the hippocampus, which is crucial to learning and memory. In addition, all the rats were reintroduced to the maze on which they had previously trained. The rats exposed to dim lighting performed worse than they had originally, while the rats exposed to bright light showed significant improvement.
The dim lighting used in the study is similar to typical indoor lighting found in most home and office settings.


9 Smartphones

Smartphones keep us in constant contact. As a result, our cognitive abilities suffer.
Researchers at the University of Texas studied a group of approximately 800 smartphone users. Participants were asked to take a series of computer tests that required their full attention. Some were asked to leave their phones in another room, while others were simply asked to mute their devices and place them facedown on their desks. Those who left their phones in another room performed significantly better on the tests than those who had their phones right next to them.
Researchers concluded that having a phone within view reduces a person’s ability to focus and perform tasks. People are so accustomed to checking their phones that their subconscious has to work against that when they are trying to focus on something else.
This effort to avoid focusing on the phone depletes the energy and attention that is actually concentrated on the task at hand. Removing the phone completely gives the subconscious a break from fighting off the urge to check for new texts or emails.


8 Processed Food

A poor diet early in life has been shown to have a negative impact on cognitive performance. Researchers examined the eating habits and intelligence levels of approximately 14,000 young children. Kids who were fed mainly processed foods at age three had lower average IQs five years later than kids who ate diets rich in vitamins and nutrients.
A diet high in vitamins and nutrients helps to encourage optimal brain development, while processed foods do not. Since the brain grows at its fastest rate during the first three years of life, the nutrition supplied during this time has a lasting impact on overall brain function.
In kids who had been fed mostly processed foods at age three, dietary improvements made later in life did little to improve their associated intelligence scores


7 Multitasking

Many studies have proven that multitasking is counterintuitive. The brain is incapable of focusing on more than one thing at a time. This means that the brain is actually switching its focus back and forth very quickly when multitasking. As a result, people are less successful in completing tasks simultaneously than if they had done them one at a time.
But many people claim to be good at multitasking, so researchers wondered if it might be a skill that certain people have a knack for. A team at Stanford University interviewed participants on their perception of how well they multitasked and then tested their ability to do so.
The results showed that the opposite was true. People who prided themselves on multitasking and felt that they excelled at doing so actually did worse at managing multiple tasks than those who said they preferred to focus on one thing at a time.
Not only does multitasking result in poorer performance, but our IQ levels also drop when we attempt to focus on too many things at once. A study done by the Institute of Psychiatry in London found that multitasking caused a temporary 10-point decrease in IQ. This was larger than the decrease seen after smoking marijuana or missing a night’s sleep.

6 Sugar

diet high in fructose results in decreased intelligence after only six weeks.
Researchers at the University of California, Los Angeles, studied the effect of a high-fructose diet in rats. The
rodents were taught to find their way through a maze before being split into two groups. Both groups were given fructose-infused water. But one group was also fed omega-3 fatty acids, which are believed to protect against brain cell damage.
After six weeks, the rats that had received omega-3 fatty acids performed significantly better in the maze than the ones that had not. The rats that had not received omega-3 fatty acids showed decreased synaptic activity and an inability to recall the route they had previously learned.
Ingesting high levels of fructose affected the rats’ insulin levels. Brain cells use sugar as a fuel. A steady influx of fructose affects how brain cells store and use the substance, which affects how the cells perform when processing thoughts and emotions.
Luckily for sugar lovers, the omega-3 fatty acids did prove to prevent the brain cell damage caused by fructose, so a slab of salmon after a bowl of ice cream should keep your IQ from dropping.


5 A Long Commute

Driving more than two hours each day steadily decreases IQ. Researchers at the University of Leicester examined the lifestyles of more than 500,000 people over the course of five years, testing them on memory and intelligence throughout the study.
Of the participants, 93,000 drove more than two hours each day. They scored lower at the beginning of the study compared to those who did little to no driving. In addition, the long-distance drivers showed a steady decrease in cognitive ability over the length of the study.
The mind is less active while on the road, and the lack of stimulation is believed to contribute to the decline in IQ. Similar results are seen in people who watch more than three hours of television each day.


4 Jet Lag

Jet lag can leave you feeling out of sorts for a few days. But when it comes to memory and learning, the effects last much longer than you may know.
Researchers at the University of California, Berkeley, studied chronic jet lag in hamsters because these animals are a near-perfect model of circadian rhythms. Twice a week for one month, the researchers altered the hamsters’ schedule by six hours to simulate an international flight and time change.
The hamsters were tested on memory and learning tasks during the jet lag simulation as well as one month after they had been allowed to return to an uninterrupted sleep schedule. Testing done while the hamsters were on an alternate sleep schedule resulted in poor performances, as expected. The jet-lagged hamsters had difficulty learning simple tasks that hamsters on an uninterrupted sleep schedule had accomplished with ease.
But one month after the hamsters returned to their normal schedule, they continued to perform poorly on memory and learning tests. Further examination revealed that the hamsters subjected to the alternate sleep schedule had only half as many neurons in their hippocampi as the critters in the control group. This deficiency in the hippocampus was evident weeks after the hamsters had resumed their normal routine.
In addition to frequent international fliers, anyone who regularly changes his sleep schedule, such as someone who works a rotating third shift, would experience this hippocampus damage.

interesting

interesting

Illegal shipments, weaker consumer income affecting sales

Company says there isn’t enough demand to absorb current glut

Okomu Oil Palm Plc, Nigeria’s second-largest producer of palm oil, expects its sales will probably slow for the rest of the year due to a supply glut and weak consumer demand.

There’s a surge of illegal shipments from neighbouring West African countries in recent months contributing to the oversupply of the domestic market, Okomu Chief Executive Officer Graham Hefer said in a Feb. 12 telephone interview. There are fears the situation may get worse if the government gives import waivers “to some people for political reasons” ahead of 2019 general elections, as happened in the past, he said.

Nigeria’s central bank in 2015 stopped importers of 41 items, including palm oil, from getting the foreign exchange from official channels. That helped to support local producers and conserve dollars after the price of crude, the nation’s major revenue earner, plunged in mid-2014. The measure was a boon to Okomu as its revenue surged 47 percent and profit rose 85 percent in 2016.

While the restriction remains, palm-oil shipments increased last year as importers gained more access to foreign exchange following a new trading window introduced by the central bank for investors. There hasn’t been enough demand to absorb all that supply as Nigeria recovers from its worst economic slump in 25 years, Hefer said.

“We hope that the bottom line will be more or less in line with what we had before because we are closely monitoring our costs,” Hefer said. “We make sure we find the cheapest supplier in the market and that which can give us the best quality and the best returns on input.”

Okomu, which currently mills 30 metric tons of palm oil per hour, plans to double its capacity by 2020 on the completion of a $50 million plant, he said. The company operates 33,000 hectares (82,000 acres) of oil palm and rubber trees, according to its website.

With a drop in demand for rubber from China, Okomu is seeking new markets in other countries, Hefer said, without identifying the targeted markets. The company sells palm oil locally and exports rubber.

SOURCE: https://brandspurng.com/okomu-nigeria-sees-subdued-2018-for-palm-oil-on-market-woes/

Fero Mobile, the fastest growing smartphone brand, has introduced the stylish Royale Y2 smartphone into the Nigerian market. The new device allows users express their personal style with a 2GB.RAM that supports multiple apps and games without any difficulty.

“The new Royale Y2 exemplifies the capabilities of the Fero brand and our continuous efforts at helping consumers achieve more in terms of work and leisure. We have packed a lot of cool features into this device to ensure that it is not only useful for work but also a great lifestyle companion,” said Phiroze Seth, Director, Fero Mobile, Nigeria, and Emerging Markets.

“We have put so much quality and class into this device to ensure it exceeds the expectations of the tech-savvy Nigerian youth. The Royale Y2, like every other smartphone from Fero Mobile, is designed to give users excellent experience at an affordable price,” he added.

The Royale Y2 is a mid-range device with premium features. It runs on the Android 7.0 Nougat operating system with a quad-core processor that supports multi-tasking at super processing speed. It boasts of a 13MP rear camera for quality photos and an 8MP front camera that captures stunning pictures even with low lights.

The device 5.5-inch HD IPS display screen offers great color performance and 75% less light reflection for excellent readability under sunlight while its 3.900MAH battery guarantees long hours of gaming, video streaming and internet surfing on one full charge.

The Royale Y2 is 4G/LTE enabled with 128GB expandable storage capacity. This device is stylishly designed to make a fashion statement. It comes in two colors of black and gold.

The Royale Y2 is already available in all leading online and retail outlets across Nigeria.

SOURCE: https://brandspurng.com/fero-mobile-introduces-royale-y2-smartphone-into-nigerian-market-photos-specs/

The  Lagos State Governor, Akinwunmi Ambode, has signed into law, the Land Use Charge Law 2018 passed on 28 January 2018, by the Lagos State House of Assembly, to repeal and replace the Land Use Charge Law 2001.

What are the new changes?

Change in formula to calculate the charges based on ‘market’ or commercial value of land and improvements.Change in categories of properties exempted. Private cemeteries are now to pay the Land Use Charge. Private libraries will still be exempt but only if they are certified to be non-profit making by the Commissioner of Finance for Lagos State. Only properties owned by religious bodies and used as a place of worship or for religious education are to be exempted. If such properties are leased out to private bodies for revenue generation, then the Land Use Charge will be levied on those properties.Change in Persons liable to pay the charge. Now, occupiers holding long leases of 10 years and above are liable to pay the charge. Occupiers in unlawful occupation of property are also liable to pay the Charge.Appeal against Assessment. The number of tribunals have been reduced from 15 to 9 with the Tribunal having the power to allow for mediation of the assessment. There are conditions under which this is to be done. The mediation must resolve the dispute within 45 working days or earlier if the mediator declares an impasse. In such cases, the dispute will go back to the Tribunal. It appears that the Government want a gentler approach to the contesting of assessments.Increased penalty for non-compliance. The penalty for non-compliance with provisions of the law has been increased to a maximum fine of N250,000 from N100,000.Enforcement: The State can now either institute a civil action against the owner or distrain (seizure) of the property.

SOURCE: https://brandspurng.com/lagos-state-land-use-charge-law-amendment-bill-2018/

We usually associate travel with fun and enjoyment. However, modern-day research has shown that it also comes with a number of health benefits. We are sharing below eight such benefits which you could get because you have decided to take a few days off and travel various places.

Your Immune System Gets Better

We always try to protect our body from dirt, grime and other impurities. However, it has been proven time and again that being exposed to dirt could certainly help to improve and strengthen your immune system.

It Could Reduce Stress Levels

Stress is a silent killer and high blood pressure and diabetes are caused because of enhanced stress levels. While meditation, exercising and moderation in food can help, travelling a few places with family or your near and dear one can also help reduce stress levels.

Improve Your Cardiovascular Health

When you are travelling on a holiday you certainly will be on the move and spend quite a bit of time walking, running, engaging in some exercise and simply laughing your time off. This could be a good way to give your heart the required exercise and improve cardiovascular health.

It Will Help You Stay Fit

If you wish to reduce a few pounds and become fitter it would not be a bad idea to spend some time and money travelling a few places. Your increased exercise need by walking could certainly help you to shed weight and stay fit.

It Could Help Your Healing Properties

Not many of us might be aware that the earth in itself has some of the best healing properties and therefore it would not be a bad idea to move around as many places as possible in the earth. You should try and move away from your state and if possible away from your country to enjoy this.

You Could Be Giving Your Body With More Nutrients

When moving out on a holiday you expose yourself to new food and new dishes. Each food has its own share of nutrients and therefore it could be good for your health.

You Might Avoid Depression

If you are depressed with life, in general, it is advised that you take a break from your work and career and move out as many places as possible. This certainly will help elevate your mood and reduce depression.

It Could Enhance Your Life Span

When you travel you could have good food, good air and the best of sceneries. This coupled with good exercise could help you to stay healthier and live longer.

SOURCE : https://brandspurng.com/8-reasons-why-travelling-is-good-for-your-health-infograph/

Group Managing Director of the Nigerian National Petroleum Corporation, Dr Maikanti Baru, has on Wednesday, called on fuel marketers across the country to make life easy for Nigerians by sticking to the official pump price of N145 per litre of petrol.

Baru urged them to follow the example of BOVAS petroleum who stuck to the official pump price of petroleum despite the scarcity of the product.

Baru made the appeal in Abuja in a statement by the NNPC Spokesman, Mr Ndu Ughamadu.

Presenting a commendation letter to Mrs Victoria Samson, the Managing Director of BOVAS & Company Ltd, an Ibadan-based petroleum marketing company, Baru said NNPC was fully convinced that it was possible for oil marketers to sell petrol at the approved price and still make a decent profit.

”It is on record that you have consistently demonstrated not only your ability to supply products to the market, but also to do so within the government-controlled price of N145 per litre.

”You are even matching the NNPC Retail price by selling at N143 per litre. That is quite commendable.

”By doing what she does, Mrs Victoria Samson has been making life much easier for Nigerians.

”That is why we gave her a commendation letter as well as a plaque to recognise her efforts,” he said.

He assured her of NNPC’s readiness to support her company with necessary interventions to keep the company well supplied with petroleum products to serve its areas of operation well.

In her response, Mrs Samson thanked the NNPC Management for the kind gesture, adding that the recognition would spur her on to do better things and continue to sell petrol at the official pump price without diverting the product.

”Without doubt, this gesture will spur me to further do my best and continue to supply products at affordable prices for the benefit of all Nigerians,” she said.

Established in 1980, BOVAS is a leading indigenous independent petroleum marketing company with a network of filling stations in various states across the nation, especially Oyo, Lagos, Osun, Ondo, Ekiti, Kwara, Kogi and Niger.



SOURCE : https://brandspurng.com/nnpc-rewards-bovas-for-adhering-to-n145-litre-fuel-price/

Interesting

With the deadline for compliance with the Voluntary Assets and Income Declaration Scheme (“VAIDS”), fast approaching, we look at the benefits and penalties of non -compliance.

In return for truthful & voluntary disclosure, compliance with the regulations and payment of outstanding tax liabilities, the affected taxpayers shall enjoy the following benefits:

freedom from prosecution for tax offences;waiver of applicable penalties and interest due (at 21% per annum);the option of spreading the payment over a 3-year period subject to agreement with the FIRS; andtransfer of assets previously held by nominees into their own name.

On the flipside, penalties for non-compliance include;

liability to pay in full, the principal sum due, all interest and penalties due (10-100% of the tax due or forfeiture of related asset);criminal prosecution in accordance with relevant extant laws, including up to 5 years in jail;withdrawal of any reliefs, which may have been granted to the participant;liability to undergo comprehensive tax audit; andrelating to undisclosed information, any sum voluntarily declared may be counted as part payment of outstanding tax.

Although the government’s plan post-deadline (31-Mar-2018) plans remain unclear, we advise clients to avoid any reputational risks that may arise thereafter

SOURCE : https://brandspurng.com/vaids-benefits-of-compliance-vs-penalties-for-noncompliance/

The National Pension Commission (PenCom), on Wednesday, 14 February 2018, issued two-pronged notices to both employers and employees on the administration of life insurance policy. The public notices are meant to serve as a reminder to the earlier issued guidelines for life insurance policy by PenCom.

The first notice (Notice 1), issued pursuant to the provisions of Section 4(5) of the Pension Reform Act, 2014, is addressed to all employers of labour and seeks to ensure compliance with PenCom’s guidelines for life insurance policy.

Highlights of this notice include;

Submission of the life insurance certificates (the Certificates): Employers are mandated to submit copies of the Certificate, with the schedule of beneficiaries to PenCom no later than 31 March 2018Content of the Certificates: The Certificates should state that the employees are covered up to an amount not less than 3 times of their annual total emoluments

The second notice (Notice 2) seeks to use employees to check employers’ compliance by intimating all employees of their rights to life insurance policy and pension contributions.

It specifically urged employees to:

insist on their employers taking out life insurance policy on their behalf, for an insured amount of not less than three (3) times their annual total emolumentsensure that all pension contributions deducted from salaries or contributed to by employers are remitted to the respective Pension Fund Custodian by the employer not later than seven (7) days from the day salary was paidreport any irregularities to PenCom in respect of any failure on the part of the employer to procure the minimum required life insurance policy, submit evidence of compliance and remit deducted pension contributions.

While these notices are a good development in ensuring the welfare of labour in Nigeria, it would be interesting to see how things will play out with respect to implementation. A scenario that is expected to play out is one in which an employee, in current employment, reports his/her employer to PenCom. Is there a safety net for such employee?

It is therefore expedient for PenCom to come up with monitoring strategies to appropriately see to the compliance of employers to their obligations with respect to life insurance policy.

The post PenCom issues public notices on the administration of Life Insurance Policy appeared first on Deloitte Nigeria Blog.

SOURCE: https://brandspurng.com/pencom-issues-public-notices-on-administration-of-life-insurance-policy/

Interesting...

same here

Good one

Most used.