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Talkn about planning ahead

Nigeria’s historic Women’s Bobsled and Skeleton Teams who for the first time qualified for the Winter Olympics, have secured a major sponsorship deal with Star Lager, one of Nigeria’s leading beer brands and one of the country’s biggest sports sponsors.

In the nearly 100-year history of the Winter Olympics Games, Nigeria has never been represented, in any sport, at the games. That record will, however, be broken when the 2018 Winter Olympics kicks off this month, as four exceptional and inspiring Nigerian women athletes will be competing for medals at the multi-sport event scheduled to take place from February 9 to 25, 2018 in Pyeongchang County, South Korea.

The Nigerian Bobsled Team is composed of the trio of Seun Adigun, Akuoma Omeoga, and Ngozi Onwumere, while Nigeria’s Skeleton athlete, Simidele Adeagbo, would all be flying the country’s national flag at the Winter Olympic Games.

As the first lager brewed in Nigeria, we identify with that pioneering spirit of excellence that these four amazing Nigerian women represent. The zeal to go on & shine in the face of uncertainty, in an uncharted terrain, deeply resonates with us and we are very delighted to be able to support these great athletes in making this dream of participating & winning in Pyeongchang come true,” said Franco Maria Maggi, Marketing Director – Nigerian Breweries Plc.

Nigerian Breweries Plc appreciates the professional conduct and support of the Bobsled & Skeleton Federation and Integral & Temple Management Company which enabled this partnership”Franco Maria Maggi added.


SOURCE: https://brandspurng.com/star-lager-sponsors-nigerias-historic-bobsled-skeleton-team-to-2018-winter-olympics-photos/

ZINOX GROUP ACQUIRES E-COMMERCE GIANT, KONGA…

After months of strategic negotiations with foreign investors Naspers and AB Kinnevik, the Zinox Group, Nigeria’s foremost integrated ICT solutions conglomerate and Original Equipment Manufacturer (OEM), is now the majority shareholder in e-commerce giant, Konga – an unprecedented move that is widely expected to raise the profile of e-commerce in the country.

Naspers is a South Africa-based multinational internet and media group, offering services in more than 130 countries while AB Kinnevik, founded in 1936, is a Swedish investment company investing primarily in digital consumer brands.

The development signifies a remarkable return to e-commerce for the Zinox Group after it pioneered e-commerce in Nigeria with the launch of BuyRight Africa.com which struggled to cope with the absence of credit card and e-payment infrastructure over 12 years ago.

The acquisition is also understood to have passed all regulatory approvals by the Securities and Exchange Commission (SEC).

Details of the mega-deal indicate that the Zinox Group, arguably Africa’s most integrated technology group will assume ownership of the e-commerce group which includes Konga.com, Nigeria’s largest online mall; KongaPay, a CBN-licensed mobile money platform with over 100,000 subscribers and rated as one of the best mobile money channels in the country as well as KOS-Express, a digitally-driven and world-class logistics company with advanced delivery capabilities for Konga and other structured companies nationwide.

The landmark acquisition is seen by industry watchers as a major development that could see e-commerce in Nigeria finally unlock the massive revenue potential in the global multi-billion-dollar industry.

In 2017, retail e-commerce sales worldwide amounted to 2.829 trillion US dollars while e-retail revenues are projected to grow to 4.48 trillion US dollars in 2021.

Coming at a time when global e-commerce spending is expected to top previously unheralded levels, the acquisition is widely expected to reposition Konga for a greater share of the e-commerce purse in Nigeria and beyond.

The acquisition is also expected to create employment opportunities for over 5000 Nigerians, both at home and in the Diaspora.

Gideon Ayogu, Head of Corporate Communications at Zinox Group, who confirmed the development, disclosed that the organization is keen to take e-commerce in Nigeria to hitherto-unprecedented heights.

“We have always had an interest in Konga and another big one you know very well but our priority was Konga first because of her integrated nature of four quality companies in one,” he disclosed. “Konga is a world-class, professionally-run company whose landmark strides in the sector has gone a long way in ushering millions of Nigerians into the ease and convenience of online shopping and boosting the conduct of e-commerce in the country. Konga’s integrity is their pride.

“Today, many Nigerians can attribute their first experience of e-commerce to Konga.com and we are excited to be a part of this remarkable story. Many shoppers can also attest to the speed and efficiency in delivery that characterizes Kos-Express, the company’s logistics arm, which is arguably the best in the sector at the moment.

“Our ambition is to up the tempo by revolutionizing e-commerce on the African continent, with Konga at the forefront of this initiative. In addition to positioning the business on a path of profitability in the short term, our long-term plans are focused around seeing Konga well established in other African capitals. Furthermore, we will be unveiling a lot of new initiatives soon and we advise shoppers and merchants alike to look out for these innovations which will radically reshape the average customer experience of e-commerce in Nigeria and on the continent and put more money in their pockets,” he noted.

Led by serial digital entrepreneur, Ekeh, the Zinox Group has grown from a position of strength to become one of the biggest names on the African technology scene. With its headquarters in Lagos, Nigeria and branches all over the country in addition to hubs in Africa, Asia, Europe and the Middle East; the Zinox Group boasts a 360-degree spectrum orientation as an integrated ICT solutions group with advanced competencies in manufacturing, distribution, retail and after-sales support, among others.

SOURCE: https://brandspurng.com/how-zinox-acquired-e-commerce-giant-konga/

FLOURMILL published Q3-17/18 result yesterday, showing high double-digit y/y growth (320% y/y) in post-tax profit to NGN3.6 billion. The net profit almost tripled our estimate and was above consensus by 28%. Gross margin surprised to record high (since Q4-13/14), beating our estimate by 470 bps, while opex, though higher by 17% y/y, trailed our estimate by 19%. 

Revenue was lower by 4% y/y and 13.6% q/q, as pricing effect has fully tapered. We should also note the effect of seasonality, recovering competition, pricing pressure in the Agro-allied division (sugar and fertilizer), and the gridlock in Apapa factory road, on sales revenue. The Food (9% y/y) and Port Operations (58% y/y) divisions recorded revenue growth while lower sales were recorded in the Agro-allied (-33% y/y), Packaging (-43% y/y), and Real Estate (-NGN63 million revenue) divisions. Overall, compared to our estimate, the reported revenue was lower by 8%.

The 20% y/y increase in gross profit was on the backdrop of a faster decline in the cost of sales (-8% y/y) relative to revenue, and a 322 bps expansion of gross margin (GM) to record high of c.16%. The first y/y expansion of gross margin in the current year may have been underpinned by stable FX condition, broadly softer commodities prices, and better energy mix from improved gas availability.

Operating expenses increased by 16.8% y/y and 7.3% q/q, with the margins also rising by 87 bps and 94 bps respectively. Admin expenses remain the driver of opex growth, with personnel/related spend and general admin expenses being the major pressure points. Increasing competition and the Apapa traffic situation are yet to reflect in marketing and distribution costs (-3% y/y).

Finance costs were higher by 31% y/y and 21% q/q and beat our estimate by 20%. The higher-than-expected finance costs reflect the NGN12.6 billion q/q increase in gross debt to NGN200.81 billion, representing net inflow from the commercial papers issued in December.

Overall, whilst noting concern from the still-elevated finance costs, FLOURMILL’s result is impressive, in light of the higher and lower than expected gross margin and opex, respectively. We expect further upward revision to 2018F earnings estimates and positive investor reaction, on higher annualized net profit of N16 billion, compared to consensus’ N13.9 billion. Our estimates are under review.

SOURCE: https://brandspurng.com/flour-mills-of-nigeria-plc-first-glance-better-than-expected-q3-pat-margins-to-the-rescue/

Earnings momentum picks up in H1’18… 

H1’18 revenue slightly above estimate, up 19% y/y

EBIT margin strengthens on operating cost improvementDebt burden fading, loans down 250% y/YPAT strengthens to ₦2.1 billion in H1’18 (H1’17: ₦4.7 billion LAT)

Volumes drive revenue growth in H1’18 results                                                                               

Printing slightly ahead of Vetiva estimate, GUINNESS recorded a 19% y/y revenue growth in H1’18 to ₦71 billion. Unsurprisingly, the Q2’18 selling season contributed the bulk of this figure (58%) given the stronger beverage consumption recorded in the festive period. According to GUINNESS, this growth was supported by a c.14% y/y rise in volumes sold. This was mainly due to a lower base from the prior period (amidst an inventory reduction) and an expanded portfolio of spirits brands.

Improvement in operating costs support EBIT margin expansion

Whilst Management has guided on softer sales in the mainstream beer segment (c.70% contribution to beer volumes), we are optimistic for revenue in H2’18 given the mild topline outperformance and continued benefits from the expanded spirits portfolio. Thus, we revise our FY’18 revenue growth estimate to ₦140 billion (Previous: ₦135 billion) – translating to an 11% y/y growth. Meanwhile, volatility in gross margin despite modest stability in the cost environment remains a worrying feature; we lower our FY’18 gross margin estimate marginally to 35% (Previous: 36%). Our earnings estimates are however sizably supported by expectations of a further decline in net interest expense (amidst the lower debt balance and noting that the H1’18 figure was bloated by FX losses), as well as a lower operating expenses forecast. Overall, we revise our FY’18 PAT to ₦6.7 billion (Prev: ₦5.3 billion, FY’17: ₦1.9 billion) – representing a 215% y/y rise. We revise our 12-Month Target Price higher to ₦78.76 (Prev: ₦71.96) and maintain a SELL rating.

Expect consolidation on H1 performance

Guinness Nigeria Plc (GUINNESS) is Nigeria’s second largest brewer. GUINNESS’ brand portfolio includes premium Guinness Foreign Extra Stout, mainstream Harp Lager, Malta Guinness and Orijin. The parent company, Diageo owns a 58% stake in GUINNESS. In 2016, GUINNESS acquired exclusive rights to distribute Diageo’s International Premium Spirits brands in Nigeria and brands from United Spirits Limited (Diageo’s Indian subsidiary).                      

SOURCE, : https://brandspurng.com/guinness-nigeria-plc-h118-earnings-momentum-picks-up-in-h118/

Supporting our positive outlook for 2018, Purchasing Managers’ Index (PMI) readings for January point to a strong start to the year. The manufacturing sector (57.3) expanded at the quickest pace on record while the non-manufacturing sector (58.5) expanded at the quickest pace since 2014 (both excluding December which is a seasonally stronger month). The strengthened economic climate was likely driven by healthy foreign exchange (FX) liquidity and stability, as well as improving aggregate demand.  

Despite January readings showing no clear ill-effect of the petroleum product debacle, we consider this a pressure point for economic activity. We are aware of the ongoing Senate committee investigation into the matter but do not anticipate any official amendments to the petroleum pricing template in a pre-election year. As a result, we anticipate further volatility in product supply and prices across the country and envisage this as a challenge in 2018.

Overall, we anticipate a softer pricing environment in 2018, with high base effects from Q1’17 inflation driving speedy deceleration in inflation this quarter – January forecast: 15.1% y/y and February forecast: 14.7%. We expect this to support producer costs and consumer wallets. Furthermore, persistently strong oil prices should continue to buoy FX liquidity and budget implementation, both of which are key for sustaining Nigeria’s economic recovery.

Manufacturers look in better shape

Production Levels (59.6) and New orders (58.3) continued to drive the rapid expansion in manufacturing, though other sub-indices also expanded in the month. Notably, Supplier Delivery Times (56. were unaffected by the sporadic fuel shortages in the country at the start of the year. The increase in manufacturing demand (new orders) is yet to drive up Business Outstanding (42.9) even though manufacturers have reported dwindling stocks of finished goods. Meanwhile, a corresponding expansion in employment and high raw materials/WIP inventories in recent months suggests firms are in a good position to meet increasing consumer demand.

Key sectors show signs of expansion

Expansion in the non-manufacturing sector was primarily driven by much stronger Business Activity (61.3) and healthier Inventories (59.5). All but one manufacturing sub-sector expanded in January; Accommodation & Food (49.3) may have suffered more acutely from the hangover of the festive period. We highlight strong performances across key sub-sectors: Agriculture (61.3), Real Estate (62.9), Wholesale Trade (57.6) and Finance & Insurance (58.7), which cumulatively contribute over half of Nigeria’s GDP.

Key feature: Energy supply is one to watch

Despite January readings showing no clear ill-effect of the petroleum product debacle, we consider this a pressure point for economic activity. Higher global crude oil prices would continue to weigh on the price of deregulated products (e.g. diesel) which companies use to meet their energy needs. In addition, the variation in actual petrol prices and intermittent shortages could stymie the rebound in aggregate demand while also posing logistical challenges for firms. We are aware of the ongoing Senate committee investigation into the matter but do not anticipate any official amendments to the petroleum pricing template in a pre-election year. As a result, we anticipate further volatility in product supply and prices across the country and envisage this as a challenge in 2018.

Moderating inflation buoys outlook

Overall, we anticipate a softer pricing environment in 2018, with high base effects from Q1’17 inflation driving speedy deceleration in inflation this quarter – January forecast: 15.1% y/y and February forecast: 14.7%. We expect this to support producer costs and consumer wallets. Furthermore, persistently strong oil prices should continue to buoy FX liquidity and budget implementation, both of which are key for sustaining Nigeria’s economic.

SOURCE: https://brandspurng.com/nigeria-pmi-pmi-shows-strong-start-to-2018-vetiva-research/

Good one.

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New global poll finds unemployment remains the main concern around the world…

The What Worries the World study finds most people across the participating 27 nations believe their country is on the wrong track — Brazil (83%), Mexico (82%), Italy (82%) and Hungary (76%) being the most anxious of nations. South Africa 27% (up 17 points) and Canada 57% (up 7 percentage points) have seen the biggest increases in optimism. In Britain, slightly more than average think the country is on the wrong track (65%) but this is a reduction of five points since December.

“What Worries the World” is a monthly online survey of adults aged under 65 in Argentina, Australia, Belgium, Brazil, Canada, China, France, Britain, Germany, Hungary, India, Israel, Italy, Japan, Malaysia, Mexico, Poland, Peru, Russia, Saudi Arabia, Serbia, South Africa, South Korea, Spain, Sweden, Turkey and the United States.

It finds that most people across the 27 countries think that their country is on the wrong track (57% on average) But there are very wide-ranging differing scores across the world:

Once again, China and India remain as the countries most positive about their nation’s direction — 92% of Chinese people surveyed believe their country is going in the right direction as do 72% in India. South Korea (67%) is now the third most positive nation replacing Saudi Arabia (65%) who step out of the top three most optimistic nations — having occupied that position for the entirety of 2017.At the other end of the spectrum Brazilians, Mexicans and Italians are the most concerned about the direction taken by their country. Only 17% of Brazilians think their country is going in the right direction, followed by only 18% in both Mexico and Italy.Russia (42%) has seen the biggest falloff in positivity this month — with a reduction of 12 percentage points trailed by Saudi Arabia by a fall of eight percentage points.In Britain, there has been a five percent increase upturn amongst Britons (35%) who think the country is on the right track from the previous month.

The three major worries for global citizens are:

Unemployment (35%) with the highest levels of concern in South Korea (65%) and Italy (64%). Unemployment concern in Russia (55%) has seen the biggest increase with a rise of 24 points from the previous month (31%). Once again, Germans are least worried about the issue for the sixth consecutive month — with only 11% of Germans citing unemployment as a worry this month, a 2% fall from the previous month (13%).Financial / political corruption (34%) has become the second joint main global concern with South Africans once again most concerned (68%) followed by Malaysia — a new entry for What Worries the World — on (64%). Germany and Sweden (10%) are the countries least concerned.Poverty / social inequality (34%), joins as the second most common worry with the highest level of concern in Russia (58%) and Hungary (56%). The US (17%) once again has the lowest level of concern as it did for the whole of 2017.

Top five global issues

Unemployment (35%)

Financial/Political Corruption (34%)

Poverty/Social Inequality (34%)

Crime & Violence (29%)

Healthcare (24%)

SOURCE: https://brandspurng.com/what-worries-the-world-new-global-poll-finds-unemployment-remains-the-top-issue-around-the-world-2/

Good one from Peugeot.

This is good.

Not good

interesting

We are all aware that not all SUVs are created equal. Some are just crossovers or empty hatchbacks but the IVM G80 is different. This is an SUV of ease and luxury, better built and better backed. The IVM G80 is an SUV that gives you a sheer driving pleasure. As the ultimate driving machine, it comes with advanced technological features, strong body, improved sensory perceptions and has a great off-road ability.

We always try to put the fun back into driving which makes it hard for people not to fall in love with IVM cars. Driven by what’s inside, the IVM G80 is powerfully engineered to move the human spirit.

Adjustable High Beams

When riding during the night on some poorly lit roads, it is almost a necessity to turn on the high beams so you can clearly see what’s ahead of you. However, you have to keep reminding yourself to switch to the low beams when another car is approaching. In fact, it can be quite troublesome to switch back and forth when a car passes you as often as every thirty seconds. Fortunately, the IVM G80 comes with automatically adjustable high beams that detect when a car appears in front of you and automatically switch to the low beams. This way, you can just focus on the road and not run the risk of blinding other drivers.

Blind Spot Monitoring

Blind spots are tricky to deal with. Sometimes, another car gets into the area where they are no longer visible in your side view mirror, and they haven’t reached your field of vision yet. This is the worst possible time to change lanes, but it may happen. That is why blind spot monitoring systems were created. They detect when another vehicle gets into your blind spot and usually a warning light will glow in your side view mirror. Furthermore, if you are planning on changing lanes at that moment (using the turn signal), most systems usually have a more emphatic intervention. The light on the side view mirror will flash, the steering wheel will vibrate and you will hear a beeping sound.

Lane Departure Warning

Complementing the previous system, we have the lane departure warning. You may inadvertently start to veer away from your own lane for a variety of reasons. Maybe you’ve been riding long hours, and your concentration has started to wane or you are getting sleepy. Or even worse, you are not sleepy at all but you are checking out your smartphone. Anyway, in most of these cases, the lane departure warning has you covered. It only acts if you don’t have the indicator on, in which case it detects when your car starts to leave the center of the lane and alerts you through a sound or vibration. Some of the most recent systems (lane keep assist and lane centering assist) even proactively steer the car back to the center of the lane. Remember, it is best not to put too much trust into this system, because it may not work very well if the markings on the road are faded.

Adaptive Cruise Control

Cruise control is great for those long rides where you want to keep a constant velocity below the speed limit without having to constantly check your speedometer and adjust the throttle. You just set it and forget it. Well, almost, because it does not brake on its own. At least, that was the case until adaptive cruise control came along. With this enhancement, cruise control will automatically detect if a car in front of you is driving at a slower pace and automatically lower its speed to compensate so that you don’t get caught off guard.

Android/iPhone Support

In a smartphone-dominated era, we had to include one such related feature. While we’re driving, some of us simply can’t help it but read that text we just received, or change the tune that’s currently playing. People just don’t realize the danger until an accident happens. However, if there is just no way that you won’t check your phone, you can now install Android and iPhone Apps (Android Auto and CarPlay) in a lot of newer models. They allow you to see your notifications on the dashboard, so that, at least, you keep your eyes on the road.

Put yourself on the road this season and celebrate Christmas in style.

To Purchase Innoson IVM cars and make further inquiries

Visit http://www.innosonmotors.com or contact us via sales@innosonmotors.com or call- 08137075745, 08030889955.

Also, we’ve partnered with Sterling Bank to enable Nigerians to own a car with ease. Through our IVM auto finance scheme, Nigerians can now own a car, drive home and pay as you go!

All our existing and future range of automobile brands are available through this auto finance scheme and we are not relenting in our efforts to partner with many more Nigerian banks.

SOURCE: https://brandspurng.com/5-modern-accessories-in-the-ivm-g80/

The Nigerian Communications Commission (NCC) says it will impose the maximum possible penalties on any of its licencees implicated in masking of international telephone calls.

The regulatory body announced this on Monday in Lagos, in a statement by its Director of Public Affairs, Mr. Tony Ojobo.  The statement said it was likely that the operating licences of some of the interconnect exchange and other licencees involved in the practice would either be revoked or suspended in the coming week.

Twillio, an online Communications glossary, says masked calling is a technique used in e-commerce to protect buyers’ and sellers’ personal phone numbers private. It uses a short-lived phone number for each party, allowing them to communicate seamlessly during a specified time period.

The suspected licencees include Medallion Communications Ltd, Interconnect Cleaning House Nig. Ltd, Niconnx Communication Ltd, Breeze Micro Ltd, Solid Interconnectivity and Exchange Telecommunications Ltd.  It said that the commission and senior operatives from the nation’s security services met with representatives of the licencees at the commission’s Abuja office on January 24.

The statement said that the companies were confronted with some of the evidence at the disposal of the commission and were given another opportunity to defend themselves.  ”In accordance with the provisions of the Nigerian Communications Act and its subsidiary regulations, the implicated licencees have been given till the January 31 to show cause why the commission should not either revoke or suspend their operating licences.

“This is in view of the evidence of their involvement now at the disposal of the commission and the security agencies. Because of the critical impacts of this nefarious practice on national security and consumer experience, the commission is determined to decisively deal with any of its licensees implicated in the scam. We do not want to expose the country to any further embarrassment. At the very least, serious sanctions would be imposed on them, if it is found that their involvement does not justify revocation of their licences,” the statement said.

The statement added that customer experience data monitored by the commission indicated that there was a noticeable reduction in the volume of masked calls being received by subscribers.  It said that this was reflective of the very aggressive measures the commission had taken to deal with the menace.  “Nonetheless, we are not taking anything for granted. We will continue to aggressively monitor all our licensees, regardless of their sizes or the scope of their operations.  ”Anyone found wanting would be strictly dealt with in accordance with the law,” it said.

SOURCE: https://brandspurng.com/6-telecom-companies-to-lose-operating-licences-in-feb2017-ncc/

Good one.

Ok

Guinness Ireland has unveiled its first non-alcoholic lager beer as it looks to tap into a growing consumer trend of declining alcohol consumption or no alcohol consumption.

The new creation which is called ‘Pure Brew’ was developed at Diageo’s Open Gate experimental brewery at St. Jame’s Gate in Dublin. According to Guinness, the beer will be unveiled to 250 pubs in the Irish capital this January and to the rest of the country from March.

Brewers typically have had a difficult time making non-alcoholic beers without losing their original taste and character because of the way they are made. Beer makers usually start the process with full-strength beers, with alcohol content gradually removed through evaporation, a process that alters the flavor and character of the beer. According to Guinness Ireland, Pure Brew, which took two years of experimentation to make was developed using a special yeast strain so that it is a fully fermented beer. The outcome is a hoppy lager with fruity aromas and a bit of citrus flavor.

Lead brewer, John Casey said, “Consumers shouldn’t have to compromise on flavor just because they want to moderate. With Pure Brew, we wanted to give people a taste experience comparable to regular beer”.

Alcohol consumption in Ireland has fallen 25% since 2005, according to the country’s Alcohol Beverage Foundation of Ireland. It adds that the trend is particularly noticeable among young people where drinking levels have plummeted in recent years.

Diageo’s global head of the beer, Mark Sandys said it has taken Guinness a long time to scale production of non-alcoholic lager but said the company was pleased with the result.

“The greatest challenge for a brewer is to produce a great-tasting beer that doesn’t have any alcohol because most of the non-alcoholic beers on the market are a compromise in terms of taste because of the way they are made. We’ve gone about things differently and the result is a great-tasting lager that stands shoulder to shoulder with our other beers”.

Mr. Sandy’s did not rule out more non-alcoholic or low alcoholic beers in the future.

“We see this as a consumer trend that is going to grow and grow, so we are focused on continuing to experiment at Open Gate,” he said.

In 2015, Diageo launched Guinness Zero in Indonesia, a non-alcoholic stout variant of its famous brand as the conservative government in that country set new restrictions on alcohol sale.

SOURCE : https://brandspurng.com/guinness-launches-non-alcoholic-lager-beer/

Kano State Government in Nigeria has handed over 150 hectares of land to Dangote Group for the development of a US $150m Dangote/Black Rhino solar power plant in Zakirai, Gabasawa local government area.

Managing Director, Stakeholder Management Dangote Group, Alhaji Bello Danmusa received the land on behalf of Aliko Dangote.

The handing over of the land was in the presence of the District Head of Gabasawa local government, Alhaji Abubakar Bello Bayero and Surveyor General of Kano state, Alhaji Dayyabu Dandikko Rogo respectively.

Alhaji Bayero thanked Aliko Dangote for the 100 MW project and added that it will enhance small businesses of women and youth for their empowerment and curb restiveness.”

Increased Electricity

According to the Secretary to the State Government, Alhaji Usman Alhaji, the move focuses towards increasing electricity supply and enhancing the economic development of the state.

Alhaji said the state government had agreed to provide 150 hectares of land and other support towards successful completion of the project.

According to The Executive Director, Dangote Group, Engineer Mansur Ahmed, the project would receive funding from the company’s partners from the United States.

In conclusion, Ahmed also noted that they were developing a robust community engagement plan. This will ensure cordial relations exist between the host community and relevant agencies for smooth operations.

SOURCE : https://brandspurng.com/dangote-receives-land-for-150-million-solar-power-project-in-kano/

Major construction work has commenced at the Lekki deep sea port site located at the Lagos Free Trade Zone (LFTZ), Ibeju-Lekki. With the construction of the main breakwater for the port, a major step towards the actualization of the proposed project has been taken.

The management of Lekki Port LFTZ Enterprise (LPLE) disclosed this during the monitoring visit of the Acting Director General of the Infrastructure Concession Regulatory Commission, (ICRC) to assess the progress of the project, which held on Friday, 26 January 2018.

Speaking during the visit, the General Manager, Projects, of LPLE, Mr. Steven Heukelom noted that the breakwater construction is one of the largest components of the port construction.

Commenting on the technical partners for the project, Heukelom explained that China Harbour Engineering Company Limited (CHEC), the engineering and construction arm of China Construction and Communication Company (CCCC), is the Engineering, Procurement and Construction (EPC) contractor for the Port (through China Harbour Engineering LFTZ Enterprise); while Louis Berger Group, USA, one of the largest multi-disciplinary infrastructure consulting firm in the world is the Project Management Consultant (PMC) in charge of supervising the construction of the port.

“The responsibilities of CHEC includes the overall design of Lekki Port, construction of the marine and landside infrastructure for the terminals and utilities, and dredging of the access channel and port basin, while Louis Berger is responsible for contract management, design review and supervision of the construction work’’ he said.

Addressing the media shortly after the briefing and tour of the project site, the Acting Director-General, Infrastructure Concession Regulatory Commission (ICRC), Engineer Chidi Izuwah stated that the visit to the Lekki Deep Sea Port project site is in compliance with Section 20 of the ICRC Act 2005 which empowers the Commission to monitor compliance and ensure efficient execution of all nationwide ‘PPP’ projects.

“We are here as part of the Commission’s 2017/2018 monitoring programme to assess the level of progress made in implementing this project as well as compliance with terms and conditions of the contract agreement signed by all parties’’ he said.

Engr. Izuwah commended the management of Lekki Port for the progress recorded so far on the Lekki Port project and for choosing such qualified and credible technical partners to work with them on the project. He then urged the company to ensure timely completion of the project.

While describing the magnitude of the Lekki Deep Sea Port Project, Heukelom noted that upon completion, the Port would be one of the deepest in West Africa with 16.5-meter water depth and one of the most modern, efficient ports in sub-Saharan Africa with capacity to berth larger vessels thereby making Lagos the trans-shipment hub in West Africa.

“We are working tirelessly in conjunction with China Harbour Engineering Company to deliver a port which will be a state-of-the-art, model deep-sea port, not only in Nigeria but in sub-Saharan Africa,” he said.

About Lekki Port

A multi-purpose, Deep Sea Port at the heart of the Lagos Free Trade Zone, Lekki Port will be one of the most modern ports, supporting the burgeoning trade across Nigeria and the entire West African region, and providing the connection to the global shipping network.

This laudable project is being promoted by Tolaram Group (Lead Sponsor) with the Nigerian Port Authority and the Lagos State Government as equity investors.

SOURCE: https://brandspurng.com/construction-works-begin-at-lekki-deep-sea-port/

Hmmmm

Facebook Inc recently put brands and publishers in a tailspin by announcing that it is updating its news feed algorithm. What this latest update means is that its users will see less and less of brand posts and stories from media outlets on their feeds.

Some social marketers have called it a “purge” that will kill organic reach on the social network.

In what sounds like mitigation, CEO Mark Zuckerberg revealed that the changes were prompted by users’ outcry over how brands posts have taken over their private space for personal conversations. This is true in a way. Far too many brands were pumping bland broadcast messages into mass-reach media buys on Facebook and spamming millions of news feeds. Something had to be done.

High ad rates are coming

However, not everyone agrees though, especially among the spooked brands, that this update serves pure intentions. Some marketing professionals and publishers strongly believe that there is more to this story than meets the eye.

These sceptics see greed as the cause of the algorithm changes. They claim that Facebook wants to have a monopoly over its 2 billion monthly active users that will allow it to charge brands exorbitant fees for its advertising programmes. The evidence? Facebook’s ad rates have risen by 35 percent in the last quarter alone.

High ad rates are definitely coming. According to Blaise Grimes-Viorrt, The Social Element chief services officer, “businesses already have to invest in ads on Facebook to get their content in front of their audiences. But there will be fewer opportunities to buy ads, so the prices will be higher.”

Nothing is new here. Marketers have always been running paid ad campaigns since time immemorial. What is bothering industry experts is the rise and rise of Facebook’s monopoly and the perceived threats it represents.

Move on and adapt

Others think differently. They cite the rise of fake news, the accusations that Facebook contributed to the growth of extreme political polarisation and privacy concerns as the real triggers for the coming news feed update.

No one really knows, for now at least. However, brands and publishers should quickly move on and adapt. They can put their time to better use by rethinking their social media marketing strategies.

Mobbie Nazir, chief strategy officer at the agency We Are Social, said that with these updates, brands now have to pay more attention to the quality of their posts, campaign implementation and optimisation if they are to achieve maximum reach and meaningful engagement.

Here is what brands have to do to win in the post-news feed update framework:

Reduce post frequency and only focus on more meaningful content that reinforces key brand messages.Use Facebook advertising for awareness and promotions.Advertising will become the only way to get their messages through to their audience of interest, and those that rely on Facebook as the distribution channel will totally suffer.Stop any engagement baiting in their posts now—the kind of posts that say have got pushy call to actions like “like this picture”.Stop posting any content with a link to their blog or website. Facebook has killed referral traffic.Go back to their community and produce content that facilitates meaningful one-to-many discussions.Produce more live videos (not pre-recorded ones).Look at the areas that are growing. Chatbots and messaging should now be a definite focus, alongside their Facebook brand page.

It is quite clear that brands using Facebook should focus more on providing meaningful interactions that drive business outcomes and not about driving engagement for the sake of engagement.

Reach is now a premium that can only be bought on Facebook via advertising. It’s a new world order.

Is your brand ready to embrace the post-news feed climate?

 

Written by: Joseph Neusu, a digital marketer with extensive experience in digital strategy and execution, including social media. He has a great passion for understanding human behaviour and is an expert in neuroscience marketing. He is helping brands in the travel and hospitality industries in Africa get the best results out of their digital strategies. He offers strategy formulation, campaign execution and consultation. 

This article appeared first in BizCommunity

SOURCE : https://brandspurng.com/facebook-news-feed-changes-what-now-for-brands/

Recently, Allianz Global Corporate Specialty (AGCS) released the 7th annual Allianz Risk Barometer analyzing corporate risks globally. It also analyzes risks by region, country, industry, and size of business. According to the report companies operating in Nigeria are increasingly worried about theft, fraud, corruption, market developments as well as changes in legislation & regulation. Other growing concerns in the country are fire, explosion and power blackouts. The report is based on a survey conducted 1,911 risk experts from 80 countries.

“For the first time, business interruption and cyber risk are neck-and-neck in the Allianz Risk Barometer and these risks are increasingly interlinked. Whether resulting from attacks such as WannaCry, or more frequently, system failures, cyber incidents are now a major cause of business interruption for today’s networked companies whose primary assets are often data, service platforms or their groups of customers and suppliers. However, last year’s severe natural disasters remind us that the impact of perennial perils shouldn’t be underestimated either. Risk managers face a highly complex and volatile environment of both traditional business risks and new technology challenges in future,” said Chris Fischer Hirs, Chief Executive Officer, AGCS.

According to the report, studies show that corruption is a significant obstacle to business in Nigeria. Companies are very likely to encounter bribery and other corrupt practices. Corruption also features as a top 10 risk in West African countries, Togo and Ivory Coast, which participated in the survey for the first time. To provide financial protection for managers against the consequences of actual or alleged “wrongful acts” when acting in the scope of their managerial duties, companies may consider taking up Director & Officers (D&O) insurance. The D&O policy will pay for defense costs and financial losses. In addition, extensions to many D&O policies also cover costs for managers generated by administrative and criminal proceedings or in the course of investigations by regulators or criminal prosecutors.

The market and economic conditions are improving. “Recently, Nigeria resolved a six-quarter recession and an exchange rate crisis. A better business environment, as well as the recovery of oil prices, should help accelerate growth in 2018 to over 2.5% from 0.8% in 2017. However, the inflation persistence to around 12.9% in 2018 may well trigger another depreciation pressure on the Naira,” says Stéphane Colliac, Senior Economist from AGCS sister company, Euler Hermes.

Businesses’ perception of the threat posed by political risks and violence remains relatively unchanged year-on-year. However, respondents are more worried about terrorism. Businesses do not have to be the direct victim to feel the effects. If an attack occurs nearby, the surrounding area may be closed, impacting operations. Globally, a general trend of increased political activism can be anticipated, causing further disruption.

New business interruption triggers are emerging

Business interruption (BI) can have a tremendous effect on a company’s revenues. Yet its impact is one of the hardest risks to measure. “No business is too small to be impacted,” says AGCS Africa CEO, Thusang Mahlangu, “A severe interruption can even have a terminal impact, particularly for smaller companies. But as many businesses transition from being rich in physical assets to derive more value from intangibles and services, increasingly, BI is being triggered by non-traditional risk exposures which don’t cause physical damage but result in lost income – so-called nondamaged business interruption (NDBI),” Thusang Mahlangu said further.

Fire, explosion, which is a major source of BI, is a serious concern for Nigerian businesses, especially considering the many incidents that occurred in 2017. As one of the world’s largest oil and gas producers, the country is highly susceptible to accidental fires that may interrupt power supplies. It is a known fact that power blackouts are prominent in the region. In fact, in a recent outage across the country, the ministry of power blamed it on a fire at a gas pipeline system that interrupted gas supply and affected the national transmission grid. Local businesses should ensure they have a sufficient backup or risk management plan for the production halt.

Cyber incidents through events such as WannaCry and Petya ransomware attacks brought significant financial losses to a large number of businesses. Cyber threats also vary according to company size or industry. “Small companies are likely to be crippled if hit with a ransomware attack, while larger firms are targets of a greater range of threats, such as the DDoS attacks which can overwhelm systems,” says AGCS Cyber Insurance Expert Nobuhle Nkosi.

New technologies rank as the second top risk for the long-term future after cyber incidents globally, with which it is closely interlinked. The vulnerability of automated or even autonomous or self-learning machines to failure or malicious cyber acts, such as extortion or espionage, will increase in future and could have a significant impact if critical infrastructure such as IT networks or power supply is involved.

“Although there may be fewer smaller losses due to automation and monitoring minimizing the human error factor, this may be replaced by the potential for large-scale losses, once an incident happens,” explains Michael Bruch, Head of Emerging Trends, AGCS. “Businesses also have to prepare for new risks and liabilities as responsibilities shift from human to machine, and therefore to the manufacturer or software supplier. Assignment and coverage of liability will become much more challenging in future.”

Written by: Fumnanya Agbugah

This article appeared first in Ventures Africa

SOURCE: https://brandspurng.com/here-are-some-of-the-risks-business-owners-in-nigeria-should-be-worried-about-in-2018/

The Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Dr. Maikanti Baru, has commended the Niger State Command of the Nigerian Security and Civil Defence Corps (NSCDC) on the eight trucks its men apprehended in Mokwa, Niger State on Tuesday.

The trucks had a combined capacity of 469,000 liters and were set on cross-border diversion to the Republic of Benin through Babana, a border town of about 700 kilometers from Minna.

Dr. Baru said the arrest of the trucks had vindicated NNPC’s position that the hiccups in supply and distribution of Premium Motor Spirit, otherwise called petrol, had been largely triggered and sustained by the unwholesome practices of some downstream stakeholders who hoard, divert, smuggle across borders and sell products above-recommended prices of N145 per litre.

The GMD urged Nigerians to remain vigilant to report unusual activities of unscrupulous individuals to the law enforcement agencies to bring the present situation under control.

It would be recalled that eight trucks laden with a total of 469,000 liters of Premium Motor Spirit (petrol) and their drivers were nabbed in Mokwa, Niger State, on their way to Babana on Tuesday.

Niger State Commandant of NSCDC, Mr. Yakubu Ayuba, who briefed the press in Minna on Wednesday, had stated that six of the trucks belong to a single marketer, adding that two of the trucks contained 66,000 liters, twice the quantity contained in a normal truck.

The Comptroller of Operations, Department of Petroleum Resources (DPR), Engr. Abdullahi Isa who also spoke on the arrest of the eight trucks laden with petrol stated that only one truck out of the eight had a genuine waybill to a recognized station in Babana.

He told newsmen that the owners of the other trucks would have to explain their mission and destinations, stressing that if it was established that they were involved in products diversion, they would pay a fine of N200 per liter to the government.

The drivers of the trucks who are currently in the custody of the Niger State Command of the NSCDC will soon be charged to court for prosecution.

SOURCE: https://brandspurng.com/baru-commends-civil-defence-corps-on-nabbed-469000-litres-of-petrol-headed-for-benin-republic/

The total monthly payout by the Federation Account Allocation Committee (FAAC) to the three tiers of government amounted to N655bn (US$2.15bn) in January (from December revenues), representing a 7% increase when compared with N610bn recorded in the previous month. We attribute the higher payout largely to a rise in the average crude oil price from US$52.1/b in November to US$56.8/b.

We also note the efforts by revenue collection agencies. Non-oil revenue from the FIRS and Nigeria Customs Service together amounted to N169bn.

The payout from the statutory allocation was N540bn. There was an additional N81bn from VAT payments, compared with N77bn the previous month. This increase is not a surprise, given the holiday season in December. Furthermore, N31bn generated from the fx equalization account was added to the distribution.

The payout to state governments, independent of the 13% derivation bonus of N48bn for oil-producing states, amounted to N150bn. Many state governments have started to implement the initiative to reduce recurrent costs, launched by the FGN’s efficiency unit. The plus side should be increased revenue for capital projects within states.



The balance in the excess crude account (ECA) still stands at US$2.31bn.

We have taken the details of the latest payout from the local media. The accountant general’s office provides the revenue numbers up to December 2016, distributed in January, and the National Bureau of Statistics through to October, distributed in November.

 

SOURCE: https://brandspurng.com/another-uptick-in-the-faac-payout-records-7-increase-in-january-2018-disbursement/

Lets know dem

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Xiaomi couldn’t have wished for better timing of two reports that claim it has toppled Samsung to become India’s top-selling smartphone company.

The Chinese firm, which is reportedly on a roadshow ahead of an IPO that could value it as high as $100 billion, is said to have beaten Samsung’s sales efforts in India, the world’s second-largest smartphone market behind China, according to new data from Canalys and Counterpoint.

Data from both analyst houses gave Xiaomi a narrow lead over Samsung in the final quarter of 2017, with 27 percent and 25 percent, respectively, according to Canalys — and 25 percent versus 23 percent, according to Counterpoint.

Counterpoint included year-long figures, which conclude that Samsung (24 percent) is ahead of Xiaomi (19 percent) over the longer timeframe. A glance at the previous year’s figures shows that Xiaomi has closed what was once a significant gap with its rival.

It’s also striking just how dominant the pair are. Together they account for over half of all smartphones sales in India, which is quite something.

Counterpoint data



Canalys’s Rushabh Doshi explained that Samsung lost ground because Xiaomi was able to exploit its weakness in the sub-INR15,000 (US$240) market with its affordable Redmi series.

 Doshi pointed out, however, that Samsung’s “far superior” R& D and its supply chain expertise give it advantages that will help it compete fiercely with Xiaomi brand, which arguably better marketed in India.

That takeaway was echoed by Counterpoint Research, which pointed out that the $150-$240 price bracket is the fastest growing segment. Xiaomi, the firm estimates, accounted for some 37 percent of devices in this range that shipped to India.

With Xiaomi ramping up its offline sales in India, this is one battle to watch in 2018.


 

SOURCE: https://brandspurng.com/xiaomi-beats-samsung-to-top-spot-in-indias-smartphone-market/

Nigerians have seen a shortage of fuel supply and scarcity this period. Mammoth queues are seen at filling stations and the pump price of petrol has skyrocketed. Every Nigerian has been affected by the situation, directly or indirectly. The federal government has vowed to end the crisis soon but their promises are not convincing with what’s seen.

Here are 5 areas in which the day-to-day activities of most Nigerians have been hampered by the fuel scarcity:

1. Traffic congestion

The numerous queues at filling stations are affecting the free flow of traffic in major cities across the nation. This affects the efficiency of businesses and business transactions.

2. Inflation

The fuel scarcity has led to an increase in the pump price of petrol. This, in turn, causes an increase in the cost of transportation of goods. When this happens, traders hike the price of their goods, causing inflation.

3. Poor Power Supply

It’s a known fact that most Nigerian businesses rely on generators for their electricity. This is due to the awful power supply situation in the country. Generators run on petrol and once there’s a shortage, businesses are affected and can’t run optimally. In addition, homes are also left in darkness.

4. Corruption

The fuel scarcity situation has led to the emergence of a parallel (black) market for the product. Many Nigerians see the crisis as a chance to engage in sharp practices, round-tripping and shortchanging.

5. Breakdown of Law and Order

The continued fuel scarcity has caused a breakdown of law and order in some areas of the country. There was a riot in Festac, Lagos state when security officials killed two persons selling petrol on the black market.

Written by: Okenwa Oluomachukwu Sandra (Content Writer, Lifestyle & Fashion blogger, and Model)



SOURCE: https://brandspurng.com/fuel-scarcity-5-areas-which-fuel-scarcity-has-affected-all-aspects-of-the-economy/