₦airaland Forum

The federal government generated a total sum of N289.04 billion as Value Added Tax (VAT) in Q1 2019, representing a decline of 3.01 per cent (Quarter-on-Quarter) when compared to the N298.01 billion collected in Q4 2018, the National Bureau of Statistics (NBS) stated.

Sectoral distribution of Value Added Tax (VAT) data for Q1 2019 reflected that the sum of N289.04 billion was generated as VAT in Q1 2019 as against N298.01 billion generated in Q4 2018 and N269.79 billion generated in Q1 2018 representing -3.01% decrease Quarter-on-Quarter and 7.13% increase Year-on-Year.

Other manufacturing generated the highest amount of VAT with N31.42 billion generated and closely followed by Professional Services generating N24.31 billion, Commercial and Trading generating N14.92 billion while Mining generated the least and closely followed by Pharmaceutical, Soaps & Toiletries and Textile and Garment Industry with N59.88 million, N201.58 million and N298.14million generated respectively.

Out of the total amount generated in Q1 2019, N137.06 billion was generated as Non-Import VAT locally while N98.97 billion was generated as Non-Import VAT for foreign.

The balance of N5.01 billion was generated as NCS-Import VAT.

SOURCE: https://brandspurng.com/2019/05/28/fg-generated-n289-04-billion-from-vat-in-q1-2019-nbs/

For a long time, June 12 has been remembered for the heroic acts of Chief MKO Abiola but was never officially recognised as a public holiday or a national commemoration, until President Muhammadu Buhari declared the date, as Nigeria’s new official Democracy Day last year.

But here’s what this means for the country and its citizens:

- What this means now, is that there is a public holiday on May 29 and another one on June 12.
- Our transition into a new government will continue to hold on May 29, as was the case, but the actual celebration of Democracy Day will now be on the 12th of June.
- Those beautiful parades and festivities that used to hold in various locations of the country on May 29, will now be reserved for June 12.
- Public Holidays mean free roads in Lagos, so use this one wisely. Make all those trips you have been postponing and take that rest you so very much need.
- Businesses can thrive on both days. While there is a public holiday on both dates, entrepreneurs can use the opportunity to make quicker deliveries, open their markets to shoppers and yet, enjoy their holiday at the same time.

Here’s the back story

The declaration of June 12 as the official Democracy Day was to honour MKO Abiola, the presumed winner of the acclaimed June 12, 1993 election, who was also awarded a posthumous title of Grand Commander of the Federal Republic (GCFR).

Subsequently, the National Assembly passed a bill to amend the Holiday Act to provide for June 12 as Democracy Day.

This means that while new presidents would be sworn in on May 29, June 12 would be the official day for celebrating Nigeria’s democracy status.

Addressing a world press conference on Monday, May 20, 2019, the Minister of Information and Culture, Lai Mohamed, said most of the activities formerly performed on May 29 as Democracy Day have been moved to June 12.

The Minister said that the swearing-in of the President and the Vice President would hold on May 29, 2019, at the Eagle Square and would be followed by a State Banquet at the Presidential Villa.

He maintained that events slated for May 29, would be low key adding that world leaders will only attend the June 12.

- Mohammed said that the event marking the June 12 Democracy Day celebration would kick off on June 7 with a Historical Exhibition in Arts, Pictures and Immersive Environment, and would run through the 12th.

- According to him, the historical exhibition will be followed on June 9 by a Youth Concert, Creative Industry and Entertainment Night at the International Conference Centre.

SOURCE: https://brandspurng.com/2019/05/27/what-may-29-june-12-public-holidays-mean-for-nigerians/

Many are mad but few are roaming...

Following the Federal Government of Nigeria’s (‘’FGN’s’’) successful debut Green Bond Issuance of N10.69 billion in December 2017 - by which Nigeria became the first African country to issue a Green Bond - the Federal Government of Nigeria (“FGN”) is set to undertake a second issuance; a Series II Green Bond of up to N15 billion.

To ensure the success of the Series II Green Bond (“the Offer”), the Federal Ministry of Finance, Federal Ministry of Environment and the Debt Management Office (“DMO”) will be engaging investors at respective Roadshows in Lagos and Abuja on May 27, 2019, and May 28, 2019.

The Series II Green Bond issuance is a further demonstration of the FGN’s commitment to the reduction of greenhouse gas emissions by 20% (unconditionally) by 2030, as outlined under the Paris Agreement signed on September 21, 2016. Through the Offer, the FGN seeks to raise N15 billion to finance projects with green credentials. These eligible green projects can be classified under three (3) themes within the green bond framework, namely: renewable energy, afforestation, and transportation.

Moody’s Investors Service has assigned a GB1 (Excellent) Green Bond Assessment to the Offer. The DMO is working with Chapel Hill Denham Advisory Limited, Capital Assets Limited, Rand Merchant Bank Nigeria Limited, and Stanbic IBTC Capital Limited as Financial Advisers/Issuing Houses to the Offer.

SOURCE: https://brandspurng.com/2019/05/27/federal-government-of-nigeria-set-to-issue-n15-billion-green-bond/

The average price of smartphones continues on a downward trajectory, as it dipped to US$ 95 in 2018, from US$ 117 in 2016, and US$ 216 in 2014, the latest report by Nigeria Mobile Report by Jumia has shown.

This development is laudable as again, the major driver of this trend is attributed to the influx of Asian brands specifically targeted for the Nigerian market.

According to the report, this trend is largely driven by the entry of affordable phones from China into the market.

Asian brands have consistently enjoyed massive patronage because of their Africa-specific strategy of introducing lower price point smartphones into the Nigerian market.

In 2018, Fero, Samsung, Nokia, Infinix and Tecno remained the customers’ favourites and the top-selling mobile brands on Jumia. It is interesting that a one time king of mobile phone, Nokia is gradually returning to the limelight, riding on its durability claim. Infinix continues to lead the pack, year on year.

Nigeria’s largest commercial city, Lagos, had the highest number of mobile phone orders in 2018, followed by Abuja, Rivers (Port Harcourt), Edo, and Delta. The mobile phone category still remains one of the top-selling categories on the Jumia website.

Some 700 million new mobile subscribers from various countries across the world will push the total number of global mobile subscribers to 6 billion between now and 2025.

Nigeria has been identified among these countries, with others being India, China, Pakistan, Indonesia, USA, and Brazil.

According to the report, Nigeria has been identified among these countries, with others being India, China, Pakistan, Indonesia, USA, and Brazil.

It is predicted that Nigeria will contribute 4% of the estimated 700 million new global mobile subscribers, making it the only country in Africa marked with a significant contribution to increasing mobile penetration in the world. By this quota, it is expected that 28 million new mobile subscribers will emerge from Nigeria between 2019 and 2025, that is, an average of 7 million new mobile subscribers annually if the country is to meet its quota.

SOURCE: https://brandspurng.com/2019/05/27/average-price-of-smartphone-in-nigeria-drops-to-95/

MASTERCARD AND INTERAC COLLABORATE TO GIVE CANADIANS A FAST, SIMPLE AND SECURE WAY TO SEND MONEY GLOBALLY

Mastercard and Interac, two trusted global and domestic payment networks, today announced a collaboration to offer Canadians a fast, simple and secure way to send money internationally. By leveraging Mastercard Send, a push-payments service that powers a faster, better, smarter way to send money cross border, the Interac e-Transfer platform will allow customers to send money from Canada to bank accounts internationally, starting with Europe. National Bank will be the first bank to pilot the new international remittance solution for its personal banking clients.

Canada is a large market for international payments, due to its diverse population and number of businesses that operate in an increasingly global marketplace. According to the latest data from the World Bank, $24.5B in remittances were sent from Canada to other countries. With Mastercard and Interac’s combined offering, Canadians will be able to simply log in to their mobile or online banking services and send funds securely globally.

“Consumers and businesses today operate globally. Whether it’s travelling abroad, sending money to family or friends overseas, or purchasing products from a business in another country, the ability to move funds across borders quickly, easily and securely is becoming a must-have,” said Ramesh Jayakrishnan, director of Push Payments for Mastercard in Canada. “Financial institutions need cost-effective and trusted solutions to meet their customers’ expectations. This new offering will connect banks to Mastercard Send to help improve customer experience and future-proof their cross-border payment service, all while using the existing Interac e-Transfer platform.”

“Interac e-Transfer is the go-to way to move your money securely in Canada, as represented by the millions of people who use it each day for their personal and business affairs,” said Peter Maoloni, vice president, Product & Platform Delivery, Interac Corp. “We think this offering with Mastercard and National Bank to offer a cross-border solution that will leverage the trust and reliability of the Interac e-Transfer brand, will be a game-changer in international remittance – making it easier for financial institutions to connect to the networks, and for their customers to move their money internationally.”

“We’re delighted to team up with two trusted brands to launch a new digital solution that will speed up cross-border payments. This innovative offering meets a growing need to send funds quickly and securely and will have a positive impact on our clients. We look forward to deploying this valuable addition to our current digital banking experience,” said Gabrielle Cournoyer, vice president, Cards & Payment Solutions at National Bank.

The Mastercard and Interac solution will be made available for other financial institutions in Canada, where if implemented, they can choose to enable their customers to send money internationally to bank accounts, and eventually mobile wallets and cards.

SOURCE: https://brandspurng.com/2019/05/25/mastercard-and-interac-collaborate-to-give-canadians-a-fast-simple-and-secure-way-to-send-money-globally/

Access Bank Plc is set to publish the list of all its delinquent debtors, associated persons, directors and entities. This is in line with the directive from the Central Bank of Nigeria (CBN).

All Access Bank Plc (including former Diamond Bank Plc) debtors are directed to pay up their past due obligations in order to avoid punitive actions being taken against them. The management of the Bank noted that it shall publish its debtors’ names in newspapers in two weeks.

Similarly, in the event that these obligations are not fulfilled, the bank shall take such further actions against such delinquent individuals and companies as it may consider necessary and shall relentlessly pursue full recovery of all its debts. For incorrigible debtors, who continue to pose a risk to the bank’s system, AccessBank will use all means available and collaborate with colleagues in the industry to ensure that they are excommunicated from the banking system.

Furthermore, all debtors will be sanctioned by the CBN and banned from participating in the Nigerian Foreign Exchange and Securities Exchange Markets and registered on the Credit Risk Management Systems (CRMS) Bureau as bad debtors making them, their directors and related entities illegible for any credit in the Nigerian Financial Markets.

Consequently, Access Bank hereby advise all delinquent debtors to take this publication seriously and ensure that all their debts are settled promptly.

SOURCE: https://brandspurng.com/2019/05/25/access-bank-to-publish-names-of-debtors/

The Federation Account Allocation Committee (FAAC) disbursed the sum of N617.57bn to the three tiers of government in April 2019 from the revenue generated in March 2019.

The amount disbursed comprised of N446.65bn from the Statutory Account, N92.18bn from Valued Added Tax (VAT), N55bn as Good and Value Consideration, N10bn as Additional Funds From NNPC, N13.09bn distributed as FOREX Equalisation Fund and N652.55mln exchange gain differences.

Federal Government received a total of N257.76bn from the N617.57bn. States received a total of N168.25bn and Local Governments received N126.58bn. The sum of N49.82bn was shared among the oil-producing states as 13% derivation fund.

Revenue generating agencies such as Nigeria Customs Service (NCS), Federal Inland Revenue Service (FIRS) and Department of Petroleum Resources (DPR) received N5.12bn, N6.15bn and N3.87bn respectively as cost of revenue collections.

Further breakdown of revenue allocation distribution to the Federal Government of Nigeria (FGN) revealed that the sum of N203.11bn was disbursed to the FGN consolidated revenue account; N4.64bn shared as share of derivation and ecology; N2.32bn as stabilization fund; N7.80bn for the development of natural resources; and N5.49 bn to the Federal Capital Territory (FCT) Abuja.

SOURCE: https://brandspurng.com/2019/05/23/local-governments-received-n126-58bn-from-faac-allocation-in-april-2019-nbs/

FIFA has rejected a proposal to extend the 2022 World Cup in Qatar of 32 to 48 nations.

FIFA president Gianni Infantino who had continued pushing to extend the tournament after the matches of Italy, Holland, United States, Chile and Cameroon did not qualify for the 2018 World Cup in Russia, was interested to give added countries from the Persian Gulf the chance to compete.

FIFA has however concluded it lacks the time to prepare other countries in the Persian Gulf to become a co-host, in large part due to logistical and political issues in the region.

“Following a careful and extensive consultation process with the engagement of all the relevant stakeholders, it was decided that under the prevailing circumstances such a proposal could not be executed now,” FIFA announced in a release.

“The FIFA World Cup Qatar 2022 will, hence, remain as formerly planned with 32 teams.”

The arrangement not to extend the tournament in Qatar intends the 2026 World Cup in the United States, Canada and Mexico will be the inaugural 48-team event.

SOURCE: https://brandspurng.com/2019/05/23/world-cup-fifa-dismissed-plans-to-increase-qatar-2022-to-48-teams/

At the May 2019 FGN Bond Auction held on Wednesday, May 22, 2019, the Debt Management Office (DMO) offered three (3) instruments for 5, 10 and 30-year tenors to the investing public, with a total amount offered of N100 billion.

As with the April Auction when the 30-year Bond was first offered to the market, investors showed stronger demand for the 30-year Bond with a subscription of over 100 billion compared to the 30 billion offered. This clearly indicates that the DMO understands the needs and preferences of investors in terms of tenor, which informed its introduction of the 30-year Bond.

The 5 and 10-year instruments were equally oversubscribed, with the subscription of 45.98 billion and 124.22 billion respectively, compared to the 35.00 billion offered for each of the instruments.

In addition to the strong demand, interest rates demanded by investors also significantly declined for all the instruments compared to the April 2019 Auction.

Allotments were made to successful Bidders at 14.11% for the 5-year, 14.24% for the 10-year and 14.49% for the 30-year Bond. The DMO allotted a total of 111.31 billion for the three instruments offered.

SOURCE: https://brandspurng.com/2019/05/23/investors-shows-stronger-demand-for-the-30-year-fgn-bond-at-the-may-2019-auction/

Na wa o

In recognition of its enviable role in traffic management, Lagos Traffic Radio has emerged the best radio station in promoting the transportation and logistics sector in Nigeria.

Receiving the Transportation and Logistics Excellence Award at the International Conference Centre, Abuja, the General Manager of Lagos Traffic Radio, Mr. Tayo Akanle said the pioneer radio station has over the years gone beyond just providing traffic information to road users, but has evolved as reporting news on all modes of transportation which include the waterways, railway, flight schedules and shipping positions.

Akanle described the award as a reflection of the hard work of management and staff, promising that the recognition will further encourage the station to continue to provide improved service to the public and transportation sector.

While thanking the organisers of the event for recognising the commitment of the Lagos Traffic Radio in reporting traffic situation in Lagos and its border towns, the General Manager said such award serves as an impetus for better performance.

He also commended the initiative of LagosState government in establishing the traffic radio while receiving the award in the company of some members of the management of the broadcast station.

Also speaking at the ceremony, a former Commissioner for Transportation in LagosState, Mr. Kayode Opeifa commended the organisers of the Award and urged Lagos Traffic Radio to continue to blaze the trail in the transportation and logistics sector.

SOURCE: https://brandspurng.com/2019/05/23/lagos-traffic-radio-wins-best-radio-station-award-photos/

Guinness Nigeria employees will begin to enjoy some of the best parental leave benefits in the country, with the business announcing a new policy that offers female employees 26 weeks fully paid parental leave and male employees 4 weeks paternity leave on full rate of pay.

The ambitious move is part of Guinness Nigeria’s leading work to support a fully inclusive and diverse workforce where barriers to career progression are removed and talent is retained and nurtured.

Speaking on this, Baker Magunda, Managing Director Guinness Nigeria Plc., said: “We are committed to our focus on inclusion and diversity, and this takes various forms – from supporting and empowering graduates and female leaders within the business to this parental leave policy change. We believe it is a truly forward-looking decision to accelerate our work inequality for employees and their families.”

The new policy also strengthens the support for parents as they return to work including the option of flexible, adaptable work arrangements and access to free independent counselling.

Speaking further, Bola Olajomi-Otubu, Human Resources Director Guinness Nigeria Plc., also noted “I’m delighted to see Guinness Nigeria making this move, and it is a pleasure to be a part of the team facilitating this change in the business. Parental leave gives both mothers and fathers the chance to spend quality time with their child in the important first months of life, creating a bond that will last a lifetime. Employers can reap the benefits too – flexibility in work is proven to create happier, more loyal and more productive workforces.”

Guinness Nigeria’s commitment to championing diversity and inclusion across its business is driven at the very highest level. The company exhibits diversity at most senior levels where women currently make up 30% of the Board and 45% of the executive leadership team. These efforts are supported by a range of dedicated employee networks such as the Guinness Nigeria Spirited Women’s network; creating opportunities for women not just within the business, but in the wider society. The company is proud to have received many ‘Great Place to Work’ Awards; most recent one being the 2018 ‘Great Place To Work’ Master Awards Hall of Fame.

Guinness Nigeria also has a Diversity Board, which is chaired by the Legal Director and Company Secretary, Rotimi Odusola, and sponsored by the Supply Chain Director Colman Hanna, alongside other members of the executive leadership team, providing the overarching vision, governance and target setting for diversity and inclusion across the business.

SOURCE: https://brandspurng.com/2019/05/23/guinness-nigeria-announces-fully-paid-26-week-parental-leave-for-female-employees/

The Manufacturing PMI in the month of May stood at 57.8 index points, indicating expansion in the manufacturing sector for the twenty-sixth consecutive month. The index grew at a faster rate when compared to the index in the previous month.

Thirteen of the 14 subsectors surveyed reported growth in the review month in the following order: transportation equipment; electrical equipment; petroleum & coal products; paper products; cement; food, beverage & tobacco products; plastics & rubber products; chemical & pharmaceutical products; fabricated metal products; furniture & related products; nonmetallic mineral products; textile, apparel, leather & footwear and printing & related support activities. The primary metal subsector recorded decline in the review period.

The May 2019 PMI survey was conducted by the Statistics Department of the Central Bank of Nigeria during the period May 6-10, 2019. The respondents were purchasing and supply executives of manufacturing and non-manufacturing organizations in all 36 states in Nigeria and the Federal Capital Territory (FCT). The Bank makes no representation regarding the individual companies, other than the information they have provided. The data contained herein further provides input for policy decisions

At 59.1 points, the production level index for the manufacturing sector grew for the twenty-seventh consecutive month in May 2019. The index indicated a faster growth in the current month when compared to its level in the month of April 2019. Eleven of the 14 manufacturing subsectors recorded an increased production level, while 3 recorded decline.

At 56.9 points, the new orders index grew for the twenty-sixth consecutive month, indicating an increase in new orders in May 2019. Eight subsectors reported growth, 1 remained unchanged, while 5 contracted in the review month.

The manufacturing supplier delivery time index stood at 58.4 points in May 2019, indicating faster supplier delivery time. The index has recorded growth for twenty-four consecutive months. Twelve of the 14 subsectors recorded improved suppliers’ delivery time, while 1 remained unchanged and 1 recorded decline in the review period.

The Manufacturing and Non-Manufacturing PMI Report on businesses is based on survey responses, indicating the changes in the level of business activities in the current month compared with the preceding month. For each of the indicators measured, this report shows the diffusion index of the responses. The diffusion index is computed as the percentage of responses with positive change plus half of the percentage of those reporting no change, except for supplier delivery time, which is computed as the percentage of responses with negative change plus half of the percentage of those reporting no change. The composite PMI for the manufacturing sector is computed as the weighted average of five diffusion indices, namely: production level, level of new orders, suppliers’ delivery time, employment level and raw materials inventory/work in progress, with assigned weights of 25%, 30%, 15%, 10% and 20%, respectively. The composite PMI for the non-manufacturing sector is computed from four diffusion indices, namely: business activity, level of new orders, employment level and raw materials inventory, with equal weights of 25% each.

A composite PMI above 50 points indicates that the manufacturing/non-manufacturing economy is generally expanding, 50 points indicates no change and below 50 points indicates that it is generally contracting. The subsectors reporting growth are listed in the order of highest to lowest growth, while those reporting contractions are listed in the order of the highest to the lowest contraction.

SOURCE: https://brandspurng.com/2019/05/22/nigerias-manufacturing-pmi-grows-to-57-8-in-may-2019/

The attention of The Nigerian Stock Exchange (NSE or The Exchange) has been drawn to a few critical issues raised in various print and social media platforms regarding the listing of MTN Nigeria Communications Plc (MTN Nigeria) on the Premium Board of the Exchange. As an Exchange that is committed to operating a fair, orderly and transparent market, we deem it important to clarify these issues.

Paucity of MTN Shares on the Floor

MTN Nigeria Listed by Introduction. Where a company lists following an Initial Public Offering, shares are expected to be available for trading on the day of listing. In a Listing by Introduction, however, no shares have been offered for subscription by the company prior to listing. Thus, without any intervention, it is possible that there will be no shares available for trading on the listing date. Indeed, currently, no rule of The Exchange compels shareholders in a listed company to tender their shares for trading. Shareholders are at liberty to trade their shares at any time and price suitable to them. Thus, in order to stimulate trading in the shares of companies that List by Introduction, the NSE’s practice is to urge the company to make shares available on the day of listing. In the case of MTN Nigeria, the NSE used and will continue to use moral suasion to get MTN Nigeria to make available shares daily, pending its Initial Public Offer.

Since the listing of MTN Nigeria on Thursday, May 16, 2019, a total of 105,301,759 shares valued at N12,231,997,316 have traded in three days. These trades were carried out by ten (10) dealing member firms in 134 cross deals/negotiated deals. According to the rule book of the Exchange, “When a Dealing Member or Authorized Clerk has an order to buy and an order to sell the same security at the same price, the Dealing Member or Authorized Clerk may “cross” those orders at a price at or within The Exchange best bid or offer”. A variant of this is the negotiated deal, which describes a situation where a cross-deal is executed between two dealing member firms at a price which may be within the Exchange’s best bid or offer or with the approval of the Exchange, outside the best bid or offer. Because cross deals involve clients of the same stockbroker on both sides of a trade, significant issues have been raised about the fact that stockbrokers who have not been involved in the cross deals have not been able to trade on behalf of their clients. The Exchange is not unconcerned about this state of affairs.

As an Exchange that champions transparency and equity for all stakeholders in our market, we have received stakeholder feedback concerning our present rules on cross dealing and will consider the issues raised as part of our sustained efforts to ensure our market remains equitable for all stakeholders.

MTN Nigeria’s Free-Float Valuation

There appears to be a misconception that a concession was given to MTN Nigeria on the minimum free float required for companies listed on The Exchange. According to the Rules Governing Free Float Requirements for Issuers Listed on The Nigerian Stock Exchange, free float is defined as the number of shares that an Issuer has outstanding and available to be traded on The Exchange. It includes all shares held by the investing public, and excludes shares held directly or indirectly by promoters, directors and their close relatives; strategic investors holding five per cent (5%) and above of the issued share capital; or government.

The Exchange’s rules for listing on the Premium Board (which is the board in which MTN Nigeria is listed) require a Company to have a minimum free float of twenty per cent of its issued share capital or that the value of its free float is equal to or above N40 billion on the date the Exchange receives the Issuer’s application to list. MTN Nigeria met with the free float requirement of N40 billion. The free float of MTN at the time of listing was in excess of N160 billion.

Investor protection is very important to us at the NSE and we have taken necessary steps to ensure that our market is fair and orderly. In 2016, we acquired NASDAQ’s SMARTS platform to proactively detect and deter manipulative tendencies, gather intelligence and execute risk-based supervision of flagged participants. We have also implemented other initiatives aimed at providing investors with timely information on the compliance status of our dealing members and issuers including BrokerTrax, our member compliance report, and Compliance Status Indicator (CSI) codes (for issuers). In addition, we have institutionalized our investor education program and launched X-Academy in June 2017, because we have identified investor education as a veritable tool to galvanizing informed investments and necessary step towards protecting investors in our market.

Whilst we believe we have addressed the concerns raised, we will like to assure our stakeholders and the general public that The Exchange will continue to uphold global best practices in its business operations and will sustain engagement with its stakeholders to continually develop regulatory frameworks that ensure our market completely reflects our values of ambition, fairness and inclusion.​

SOURCE: https://brandspurng.com/2019/05/21/nse-clarifies-concerns-on-mtn-nigerias-premium-board-listing/

Manchester United are putting last season behind them as quickly as possible by launching their new Adidas home shirt for the 2019/20 season – a landmark year which celebrates the 20th anniversary of their famous 1999 treble-winning season.

The 2019/20 home kit features an all-new crest design, and intricate detailing paying homage to the incredible treble triumph and it’ll be worn on pitch for the first time at a Legends charity match against Bayern Munich, a game which marks the anniversary. At a glance, it’s a smart new design, and on closer inspection tributes to the 1999 season run throughout.

The incredible 1998/1999 season saw United make history by becoming the first club ever and since, to win the Premier League, FA Cup and UEFA Champions League. Yeah, they used to be pretty good. History was made when United battled back from behind to defeat Bayern Munich 2-1 in Barcelona, with goals from Teddy Sheringham and, now Reds manager, Ole Gunnar Solskjaer.

The minutes of when those famous goals – scored in the 91st and 93rd respectively – are shown on each sleeve of the new jersey for the forthcoming season. The dates of the three title wins are also displayed along the bottom of the shirt.

An all new commemorative crest design of bold black with gold stitching takes inspiration from the one worn that season, and white shorts and black socks complete the kit.

The home goalkeeper jersey will come in a tiger pattern featuring a dark purple two-tone design, referencing the top worn by Peter Schmeichel during the 98/99 season, and we ain’t mad about that. Definitely seeing a touch of the 90s coming back on ‘keeper shirts net season and that’s to be embraced.

The first team will wear the jersey in Perth on 17th July, during their preseason tour, against the Championship’s longest serving team, Leeds United.

SOURCE: https://brandspurng.com/2019/05/16/adidas-unveils-manchester-united-2019-20-home-shirt/

The National Bureau of Statistics (NBS), yesterday, said the average prices paid by consumers for kerosene and diesel increased in April 2019.

The average price per litre paid by consumers for Kerosene increased by 4.06% month-on-month and 13.57% year-on-year to N316.26 in April 2019 from N303.94 in March 2019.

Also, the average price paid by consumers for automotive gas oil (diesel) increased by 0.66% month-on-month and 12.88% year-on-year to N230.67 in April 2019 from to N229.16 in March 2019.

NBS stated, “States with the highest average price of diesel were Borno (N249.50), Osun (N245.55) and Niger (N241.90) while States with the lowest average price of diesel were Ekiti (N204.40), Rivers (N218.00) and Plateau (N219.11)”.

However, the average price paid by consumers for premium motor spirit (petrol) decreased by -3.6% year-on-year and increased by 0.4% month-on-month to N145.9 in April 2019 from N145.3 in March 2019. States with the highest average price of premium motor spirit (petrol) were Bayelsa (N148.64), Kogi (N147.88) and Yobe (N147.82) while states with the lowest average price of premium motor spirit (petrol) were Katsina (N143.50), Zamfara (N144.43) and Abuja (N144.67).

At the state level, Plateau, Anambra, and Enugu paid the highest price per litre at N361.90, N353.47, and N353.33 respectively. States with the lowest average price per litre of kerosene were Gombe (N269.04), Lagos (N272.02) and Nasarawa (N287.45).

In its latest PMS report, the bureau stated that the average price per gallon paid by consumers for National Household Kerosene increased by 1.77% month-on-month and 24.20% year-on-year to N1,211.99 in April 2019 from N1,190.89 in March 2019.

“States with the highest average price per gallon of kerosene were Gombe (N1,361.54), Enugu (N1,322.73) & Jigawa (N1,321.43)”.

“States with the lowest average price per gallon of kerosene were Bayelsa (N1,031.67) Akwa Ibom (N1,071.36) and Delta (N1,071.36)”.

SOURCE: https://brandspurng.com/2019/05/15/prices-of-kerosene-diesel-rise-in-april-2019-nbs/

The Wife of Ekiti State Governor, Erelu Bisi Fayemi, bemoaned the increasing number of out of school children in the country.

The Ekiti State first Lady said available statistics indicated that the girl child accounted for over six million out of the 10.5 million that lack access to formal education in the country. She outlined this as one of the major impediments to the progress and leadership of Nigerian Women.

Stressing that presently, women representation at the National Assembly and other levels of government is almost non-existential, she, however, predicted that with the gradual conscious efforts being made to sensitize women, there would be better representation in future elections.

Erelu Fayemi stated this on Thursday while delivering the 5th Distinguished lecture of the University of Medical Sciences, Ondo, titled: ‘Clapping With One Hand: Female Education, Leadership and the Quest for National Development’.

In her lecture, the First Lady noted that the atrocities committed by terrorist groups such as Boko Haram have had a devastating effect on millions of citizens, particularly women and children. This, according to her has disrupted the education of many children, with a dire implication on their future and in turn the future of the country.

She added that despite their successes and achievements, millions of women and girls still suffer from the feminization of poverty, lack of access to basic resources, diseases, violent conflict and the complex use of culture, religion and tradition to render the female gender voiceless in the society.

According to Erelu Fayemi, “the gains of women are often eroded when faced with a combination of the following obstacles: Patriarchal Power and Privilege; violent conflict and displacement; lack of political will; religious and cultural conservatism; and ideological differences.

” Inaccessible political machinery and godfather’s syndrome; lack of financial investment required for political office; violence and intimidation; Cultural and attitudinal barriers are major factors that are limiting women and reducing their capacities to rise to the top”, she said.

“Patriarchy is a system of male authority which legitimizes the oppression of women through political, social, economic, legal cultural, religious and military institutions.

“Men’s access to, and control over resources and rewards within the private and public sphere derives its legitimacy from the patriarchal ideology of male dominance,” She explained further.

The First lady added: ” If you look at the configuration of the National Assembly since 2011, women representation has always been very bad and this has not given women ample opportunity to participate in setting legal framework that regulates governance. It was better in 2011, dropped in 2015, but became worse in 2019″, she added.

She said these factors should not discourage the women from demanding for our right.

The Ekiti First Lady further said: “Crimes against women are on the increase, gender violence, rape, trafficking, sexual exploitation, discrimination and kidnapping, amongst others. All these issues make the atmosphere very unsafe for women”.

Erelu Fayemi called for holistic implementation and enforcement of relevant laws that tend to tame gender inequality and promote women’s interest to enhance their relevance in all sectors.

She further advised women “to seek conceptual clarity on gender and feminism, to research use of legislative and policy framework, build a platform to make political demands, encourage inter-generational organising, engage in resource mobilisation, make educational institution safe for female gender, prepare for leadership and build a legacy that can attract public respect.

“These are the different ways that we can reset the agenda and as a society claps with both hands,” she noted.

Present at the event were the representative of the Governor of Ondo State, Special Adviser, Education, Dr Wumi Ilawole and Olori Olayinka Kiladejo, Wife of the Osemawe of Ondo.

SOURCE: https://brandspurng.com/2019/05/15/60-of-out-of-school-children-in-nigeria-are-females-erelu-fayemi/

More photos...

Ekiti State Governor, Dr Kayode Fayemi, on Tuesday, commissioned Gossy Water Production plant, signalling the commencement of full-scale production of the popular table water brand, a year after the parent company was liquidated.

The entire Ikogosi was turned into a carnival as both the young and the old trooped to the major streets as early as 6.00am singing and dancing in celebration of the return of the company.

Governor Fayemi who led other dignitaries to commission the plant said it was regrettable that the Gossy Water Company which could have been generating revenues for the State went moribund due to lack of conducive environment for ease of doing business in Ekiti State after he left office in 2014.

The Governor recalled that the bottling company was established as a joint business venture under Otunba Adeniyi Adebayo, the first civilian Governor of the State and the investment “made waves in the market thereby boosting the IGR of the State and creating job opportunities for the citizens”.

He described the revitalisation of the company as another milestone in the state government’s determined efforts to revive moribund projects in Ekiti State.

“I am particularly excited about this development because of its expected multiplier effects on the economic lives of the people and governance in the State. I, therefore, congratulate Ekiti Kete, home and abroad, for the restoration of this company which is an offshoot of one of our most prominent tourist attractions, the Ikogosi Warm Springs”, he said.

While lamenting the neglect of the tourism corridors of Ekiti State by the last administration, the governor said Ikogosi resort has now become “a ghost of its former self and hardly enjoys patronage because of its state of dilapidation”.

Dr Fayemi, however, assured that his administration would soon revive the warm spring resort, through private sector investment, and restore it to its pride of place as a first-class tourist destination in Africa.

While promising that his government would ensure an enabling environment for businesses to thrive, the governor said his administration has mapped out strategic plans towards the resuscitation of other abandoned and moribund investments in the State.

The governor commended one of the leaders of Ekiti socio-cultural group, Ugbimo Ure Ekiti, Sir Remi Omotoso for playing a key role in ensuring that the Gossy Water Company returns and called on other Ekiti indigenes to support the government in moving the State forward.

In his speech, the Board Chairman of Gossy Warm Spring, Mr Wole Adeyegbe expressed the readiness of the company to run the Gossy brand profitably and extending the brand to related food and beverage segment.

Adeyegbe added that the company has employed Ekiti indigenes, adding that it is planning to have at least 300 of its direct and indirect staff from the State.

Earlier, the Group Managing Director of Fountain Holdings Ltd, Mr Seyi Ayeleso thanked Governor Fayemi for working with Benin Electricity Distribution Company to restore power to Ikogosi Ekiti and its two neighbouring communities; saying that this would help forestall a re-occurrence of power challenge which was part of the reasons for its liquidation by its owner company, UAC.

SOURCE: https://brandspurng.com/2019/05/15/gossy-water-returns-as-fayemi-commissions-production-plant-photos/

The price of cooking gas in Nigeria decreased by -0.87% month-on-month and decreased by -0.57% year-on-year, a National Bureau of Statistics, NBS, report has shown.

The report titled, Liquefied Petroleum Gas, LPG, (Cooking Gas) price watch, was published on Tuesday by the bureau.

The average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -0.87% month-on-month and -0.57% year-on-year to N2,046.53 in April 2019 from N2,064.45 in March 2019.

“States with the highest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Bauchi (N2,513.33), Adamawa (N2,375.00) and Borno (N2,362.50)”.

“States with the lowest average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Osun (N1,766.66), Oyo (N1,790.38) and Kaduna (N1,800.00)”.

The NBS report also showed that the average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) decreased by -0.13% month-on-month and -0.35% year-on-year to N4,523.91 in April 2019 from N4,4259.48 in March 2019.

“States with the highest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Cross River (N4,813.64), Akwa Ibom (N4,720.00) and Abia (N4,691.67)”.

“States with the lowest average price for the refilling of a 12.5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) were Kano (N3,809.72), Adamawa (N4,000.00) and Niger (N4,000.00)”.

SOURCE: https://brandspurng.com/2019/05/14/nigerians-paid-less-for-cooking-gas-in-april-2019-nbs/

Brazilian superstar Neymar scored a legal win on Tuesday as a top EU court ruled against a businessman who tried to claim copyright on the world’s most expensive footballer’s name.

The General Court of the European Union said that Carlos Moreira had acted in “bad faith” when he tried to trademark the name “Neymar” in 2012, confirming a decision by the EU Intellectual Property Office to invalidate the registration.

The court rejected arguments from Moreira, who applied to register “Neymar” as a trademark for clothes, footwear and hats in December 2012, that he had little knowledge of football and simply liked the sound of the word.

“The Court upholds the decision of EUIPO that Mr Moreira was acting in bad faith when he filed the application for registration of the mark ‘NEYMAR’,” the court said.

EUIPO ruled in Neymar’s favour when he challenged Moreira’s registration in 2016, prompting the Portuguese businessman to take the case to the General Court, the EU’s second-highest tribunal.

Moreira claimed that when he registered the name, he did not know Neymar — who had been named South American Footballer of the Year in 2011 and attracted interest from a host of top European clubs — was a rising star.

The court dismissed the argument, saying it was clear Moreira had “more than a little knowledge of the world of football”.

This was proven, the court said, “by the fact that he filed an application for registration of the word mark ‘IKER CASILLAS’, a mark corresponding to the name of another famous football player, on the same day he sought registration of the mark ‘NEYMAR’.”

“Mr Moreira puts forward no convincing argument to disprove the finding of EUIPO that there was no explanation for his application for registration of the contested mark other than the desire to ‘free-ride’ on the footballer’s renown,” the court said.

It is the second EU trademark victory inside a year for South American megastars, after Argentina and Barcelona attacker Lionel Messi won a battle to register his name, seeing off a seven-year challenge by Spanish cycling gear manufacturer Massi.

The ruling comes after a tough end to the season for the 27-year-old Neymar, who is also mired in legal tussles in Spain.

Neymar — whose PSG season fizzled out after a shock Champions League exit to Manchester United — is facing a tax probe in Spain over bonuses he earned at Barcelona as well as his world-record transfer to Paris.

The Catalan giants are also suing Neymar for breach of contract after he transferred for a record 222 million euros ($249 million) in 2017, less than a year after he signed a new five-year deal.

SOURCE: https://brandspurng.com/2019/05/14/neymar-wins-case-to-trademark-his-name/

The Management of the Central Bank of Nigeria (CBN) has been notified of a purported audio recording of selective conversations amongst the Governor, Deputy Governor and some Senior Officials. Contrary to the headline-grabbing narrative that the discussion was about a fraudulent transaction, this conversation – the beginnings of which was omitted to create a different impression – was simply to proffer solutions to a misunderstanding that affected the Bank’s balance sheet.

As publicly known the CBN was approached in 2015 by the National Economic Management Team and the National Economic Council (NEC), chaired by the Vice President, to assist State Governments with Conditional Budget Support, in the aftermath of the significant nose-dive in global oil prices and associated FAAC allocations. In order to ensure that ordinary Nigerians workers got their salaries, pensions and gratuities and that the economy continued to recover from the recession, the Bank provided about N650 billion in loans at 9% with a two-year grace period to 35 States of the Federation. These monies were distributed to the States monthly with documented approval of the Federal Ministry of Finance and the Presidency

In closing the Bank’s 2018 accounts, external auditors in their Draft Account erroneously classified about N150 billion of these loans as bad, which negatively affected the Bank’s Balance Sheet and shareholders fund. The selective conversation being circulated was simply a discussion to ascertain why the auditors took that position and next steps to resolve it. Obviously, it soon became clear that a State Government loan cannot be classified as “bad” or “irrecoverable” when the State still exists and getting FAAC allocations.

The Bank then reached out to the Federal Ministry of Finance and they jointly gave comfort to the auditors who accepted in writing that these monies would be repaid. On this basis, the auditors reversed the negative entry and the certified that the CBN’s 2018 accounts were a true reflection of the State of Affairs. Reconciliation of Balance Sheet items are regular conversations amongst Senior Management of many agencies and should not be misconstrued as anything but that. Had the online media which released the selective recordings sought the comments of CBN as required of journalism practice, we would have provided it.

Clearly, those who listened to the audio and can easily ascertain that the conversation had nothing to do with anything fraudulent as purported. The Bank, therefore, urges all well-meaning Nigerians to disregard this audio and continue to trust that the Bank is doing everything it can to represent their interests in the best possible way.

Under the leadership of Governor Emefiele, the CBN has always stood for, and vigorously pursued transparency in its stewardship of public resources and policies.NO MONIES ARE MISSING OR STOLEN. The integrity of the CBN Governor remains unassailable. He has no account in Dubai or anywhere in the world and would never convert the funds of CBN for personal use. Not in the past, not now and not ever. The use of selective wiretapped conversations of the Bank’s Management, to malign his character and integrity will never stand. The Bank will pursue every legal means to bring the perpetrators to justice.


SOURCE: https://brandspurng.com/2019/05/13/no-monies-missing-stolen-in-cbn/

- Beneficiary States include Akwa Ibom, Ebonyi, Kano, Benue, Kebbi and Zamfara
- The objective is to improve transportation infrastructure, restoring nation’s road network in line with the ERGP, Says Fashola
- Over 500 jobs to be generated with more than 90 per cent of available direct jobs for Nigerians
- Upon completion, the roads will open up settlements, provide access and improve the socio-economic lives of the beneficiary communities – Minister

In pursuance of the Federal Government’s commitment to developing the nation’s road network in the six geopolitical zones, the Federal Executive Council (FEC), has approved road contracts worth N35.944 Billion in six states of the Federation, bringing to a total of 16 roads the Council has approved in recent times.

Barely three weeks ago, the Council approved the award of N169.74 Billion contracts for the construction and rehabilitation of 10 roads across the country with the Minister of Power, Works and Housing, Mr. Babatunde Fashola SAN explaining that the projects would enhance the Federal Government’s objective of restoring the nation’s road network as part of the implementation of the Federal Government’s Economic Recovery and Growth Plan.

The beneficiary States in the latest approvals during the last FEC include Kebbi-Zamfara States where a N3.813 Billion contract was approved for the rehabilitation of BirninYauri-Rijau, Magajiya to Daki-Takwas Road; Akwa Ibom State where a N1.1 Billion contract was approved for the construction of Atan Ikot Okoro Road with Bridge at Esssien Udim Local Government Area and Ebonyi State where a N3, 071Billion was approved for the reconstruction of Oso-Owutu Road. For Benue State, a contract of N27.3Billion was approved for the rehabilitation of Makurdi-Naka-Adoka Road Phase 1.

The other approval was for Kano State where an augmentation sum of N676.2Million was approved for the completion of the construction of Wudil-Utai-Achika-Darki-Jegaware Road whose contract was first approved in 2012 by FEC at an initial sum of N4.4Billion.

The approvals, which were sequel to two Memoranda submitted to the Council by the Minister of Power, Works and Housing, Mr. Babatunde Fashola SAN, showed that the Makurdi-Naka-Adoka Road Phase 1 in Benue State will be rehabilitated by Messrs Gilmor Engineering Nigeria Limited in 42 months, the Kebbi/Zamfara road by Messrs H&M Nigeria Limited in 12 months, that of Akwa Ibom State by Messrs Raycon & Company Nigeria Limited in 28 months, while that of Ebonyi is awarded to Messrs Sabtech Towers Nigeria Limited with a completion date of 18 months.

According to the second Memorandum, the completion of work on Sudil-Utai-Acika-Darki-Jegaware Road in Kano State, which contract was first approved by FEC on November 14, 2012 for N4,393,730,153.20, involved the rehabilitation of approximately 23 kilometres single carriageway road and construction of a bridge with a completion period of 24 months by by Messrs Birak Engineering & Company Limited.

But completion was, however, stalled due to limited budgetary allocations in the preceding fiscal years leading to the current approval of additional N676,177,886.40, bringing the total cost to N5,067,908,050.30 while an additional six months have been added to its initial completion period of 24 months after all due processes have been complied with.

While the rehabilitation of the 122km long Makurdi-Naka-Adoka Phase 1 Road in Benue State involves site clearing and earthworks, provision of culverts and drains, among others, the rehabilitation of the 13 km Birnin-Rijau, Magajiya to Daki-Takwas Road in Kebbi/Zamfara involves the construction of a bridge and the provision of culverts and drains among others and the Atan Ikot Okoro Road involves construction of a bridge and a 4.5km approach road among others while the 9km Oso-Owutu Road in Ebonyi State involves site clearing and earthworks and construction of culverts and drains among others.

In terms of creating job opportunities, while the rehabilitation of Makurdi-Naka-Adoka Phase 1 Road in Benue State will generate 150 to 200 direct jobs with 90 per cent of Nigerians as direct staff, the rehabilitation of BirninYauri-Rijau, Magajiya to Daki-Takwas Road in Kebbi/Zamfara states will generate between 50 and 100 direct jobs with Nigerians taking all the jobs and the Road in Akwa Ibom will create 50 jobs for Nigerians alone while the reconstruction of Oso-Owutu in Ebonyi State will generate between 50 to 120 direct jobs for over 90 per cent Nigerians.

Advancing reasons for seeking the approvals, the Minister of Power, Works and Housing, Mr Babatunde Fashola SAN, also explained that it was in order to achieve the Federal Government’s objective of improving transportation infrastructure, particularly restoring the nation’s road networks as part of the implementation of the Economic Recovery and Growth Plan.

According to the Minister, the Ministry has decided to initiate new road reconstruction and rehabilitation projects in some states of the Federation as a means of generating jobs, both direct and indirect, adding that upon completion the roads would open up settlements, provide access for evacuation of goods and services as well as improve the socio-economic lives of the people within the different communities in the project areas.

SOURCE: https://brandspurng.com/2019/05/13/more-jobs-coming-as-fec-approves-award-of-road-contracts-in-six-states-at-n35-944b/

A total of 894 children, including 106 girls, were released from the ranks of the Civilian Joint Task Force (CJTF) in Maiduguri, north-east Nigeria today, as part of its commitment to end and prevent the recruitment and use of children.

The CJTF is a local militia that helps the Nigerian security forces in the fight against insurgency in north-east Nigeria. It was formed in 2013, with the aim of protecting communities from attack.

“Any commitment for children that is matched with action is a step in the right direction for the protection of children’s rights and must be recognised and encouraged,” said Mohamed Fall, Representative of UNICEF in Nigeria and the Co-chair of United Nations Country Task Force on Monitoring and Reporting on Grave Child Rights Violations (CTFMR).

“Children of north-east Nigeria have borne the brunt of this conflict. They have been used by armed groups in combatant and non-combatant roles and witnessed death, killing and violence. This participation in the conflict has had serious implications for their physical and emotional well-being.”

Since September 2017, when the CJTF signed an action plan committing to putting measures in place to end and prevent recruitment and use of children, 1,727 children and young people have been released. Since then, there has been no new recruitment of children by the CJTF.

The children and young people released today will benefit from reintegration programmes to help them return to civilian life, seize new opportunities for their own development, and contribute to bringing lasting peace in Nigeria, as productive citizens of their country. Without this support, many of the children released from armed groups struggle to fit into civilian life, as most are not educated and have no vocational skills.

In the ongoing armed conflict in north-east Nigeria, more than 3,500 children were recruited and used by non-state armed groups between 2013 and 2017. Others have been abducted, maimed, raped and killed.

“We cannot give up the fight for the children, as long as children are still affected by the fighting. We will continue until there is no child left in the ranks of all armed groups in Nigeria,” said Fall.

UNICEF continues to work closely with state authorities and partners to support the implementation of reintegration programmes for all children released from armed groups, as well as others affected by the ongoing conflict. The gender and age-appropriate community-based reintegration support interventions include an initial assessment of their well-being, psychosocial support, education, vocational training, informal apprenticeships, and opportunities to improve livelihoods.

At least 9,800 people formerly associated with armed groups, as well as vulnerable children in communities, have accessed such services between 2017 and 2018.

SOURCE: https://brandspurng.com/2019/05/11/nearly-900-children-released-from-armed-group-in-north-east-nigeria/

A donor’s kidney was delivered to surgeons at a US hospital using the drone, in the first flight of its kind. At 1 is on the 19th of April, a small drone took off from a parking lot in Baltimore holding a kidney in a cooler and flew three miles to land on the roof of the University of Maryland Medical Center.

The custom made drone also required additional technology such as onboard cameras and organ tracking, and communications and safety systems for a flight over an urban, densely-populated area. It also had a parachute recovery system in case the aircraft failed. The flight required special clearance from Aviation regulators and the police closed the streets it flew over at a height of 200 feet.

The recipient, a 44-year-old woman from Baltimore, had waited eight years for the transplant.”This whole thing is amazing. Years ago, this was not something that you would think about.” she says about the delivery method. “Delivering an organ from a donor to a patient is a sacred duty with many moving parts. It is critical that we find ways of doing this better,” said Joseph Scalea, assistant professor of surgery at the University of Maryland School of Medicine, and one of the surgeons who performed the transplant. “ I believe we will start seeing more organ delivery by drones within the next three to five years”.

Joseph Scalea hopes for a future where drones would connect hospitals and airports, he says: “The next run could be over 30 miles, or 100. The distance is relatively unimportant. The most important part is, we were able to implement drone technology into the current system of transplantation and transportation”

Many see huge potential for unmanned aircraft systems (UAS) delivering medical products, with some drones already doing so in Africa.

“There’s a tremendous amount of pressure knowing there’s a person waiting for that organ, but it’s also a special privilege to be a part of this critical mission,” said Matthew Scassero, part of the engineering team based at the University of Maryland. “This would minimise the need for multiple pilots and flight time and address safety issues we have in our field.”

SOURCE: https://brandspurng.com/2019/05/11/the-first-organ-delivery-by-drone-was-a-success/

The Minister of Transportation, Mr Rotimi Amaechi, said 123km of the 156 km stretch of the Lagos-Ibadan standard gauge rail project has been completed.

Amaechi made the disclosure on Friday during his routine inspection of the project along Kila, Olodo, Ilugun corridor of the track in the outskirts of Ogun State.

He said the project had been completed up to Kila village, a settlement on the outskirts of Ogun towards Oyo State.

“We are already moving towards Ibadan, the track laying is now in Kila, a town on the outskirts of Ogun.
“In less than a month from now, we should be in Ibadan with the rate the work is going,” he said.

The Minister also said that he would inspect the Apapa port and its connection to the standard gauge rail to address the challenges of traffic gridlock in the area.

“We will be visiting the ports tomorrow to address some of the issues we have there.

“It’s imperative that the Apapa ports must be connected to the standard gauge rail to ensure proper movement of cargoes,” Amaechi said.

The source reports that the minister had during one of his inspection tours on April 8 blamed the China Civil Engineering Construction Corporation (CCECC) for the slow pace of work in the ongoing project.

According to him, the Federal Government plans to commence transportation of cargoes from the seaports through the standard rail gauge by December.

SOURCE: https://brandspurng.com/2019/05/11/contractors-successfully-completed-123-km-of-156-km-lagos-ibadan-rail-project/

The Lagos State Government is set to embark on the reconstruction and upgrade of Taiwo Adewunmi and Imafidon Crescent in Oko-Oba GRA Scheme 1 in Oko-Oba, Agege Local Government Area.

Speaking at a stakeholder meeting with residents of Oko-Oba GRA Scheme 1, the State Commissioner for Physical Planning and Urban Development, Prince Rotimi Ogunleye said the intervention by the Government is towards realising the objectives of its infrastructural development plans for the residents in the area.

The Commissioner who was represented at the forum by the Director, Physical Planning Department, Tpl. Bola Aliu commended the communal efforts of the residents and civil society organisations towards the development of roads within the estate and assured that with their cooperation the project will be delivered within the scheduled nine-month project duration.

The reconstruction project is a single carriageway along two streets with lengths of 750m and 6.6m respectively while the approved Right of Way for the project is 9.6 million.

The Project Coordinator, Engr. Blessing Oyegua, highlighted the socio-economic benefits of the reconstruction to include: improved connectivity within Oko-Oba GRA Scheme 1; enhancement of the standard of living of residents of the Estate; improved status of Taiwo Adewunmi/Imafidon roads and drastic reduction of vehicular travel time in the area.

He, therefore, solicited for the support and cooperation of Lagosians in the axis for the inconvenience that may result from redirecting traffic during the construction.

Speaking on behalf of other residents, Mr Taiwo Adewunmi thanked the Lagos State Government for the laudable project and appealed to residents to cooperate with the contractor and staff of the Ministry of Physical Planning and Urban Development on the project.

SOURCE: https://brandspurng.com/2019/05/11/lagos-to-reconstruct-oko-oba-gra-scheme/

We have exciting news to refresh your weekend activities!

On May 11th, this Saturday, Pinkberry Gourmet Frozen Yoghurt will be serving light, delicious and refreshing frozen yoghurt at Pinkberry Jakande & Aromire stores.

Everyone who stops by between the hours of 2 pm and 5 pm will get a free Pinkberry Yoghurt.

This is the fourth weekend in a row that Pinkberry Yoghurt is bringing delicious excitement for everyone. So, clear your schedules, grab a few friends and hang out with Pinkberry come Saturday.

After all, A Cup of Pinkberry makes the world go round- A free cup will definitely keep it spinning.

So, our stores at Aromire and Jakande are open for free Pinkberry Gourmet Frozen Yoghurt, come relax and unwind with friends, over the yummiest Frozen yoghurt treats yet.

See more information below:

Date: Saturday, May 11th, 2019

Time: 2 PM – 5 PM

Pinkberry Locations: Jakande Store:1 Ologolo Village Road, Jakande, Lekki, Lagos

Aromire Store: 11A Aromire Avenue, Ikeja

Don’t miss this amazing treat!

Follow @PinkberryNigeria on Instagram & Facebook and @Pinkberryng on twitter for more information about more exciting offers.

SOURCE: https://brandspurng.com/2019/05/10/free-pinkberry-yoghurt-for-everyone-this-saturday/

LMAO

With a solid, positive and growing set of results across the board, LaLiga has achieved the best figures in the competition’s history…

According to the latest Financial Report of Spanish professional football, corresponding to the latest complete season (2017/18), LaLiga’s clubs posted revenue of €4.479 billion, representing growth of 20.6% over the previous season.

This is the largest positive annual change in recent years and particularly notable given that it occurred following several financial years in which it has been consistently posting double-digit growth rates and in which, furthermore, we are at the midway point of the three-year audiovisual cycle for the national market (and, by extension without coinciding with sudden increases in level or discontinuities).

LaLiga’s gross operating profit (EBITDA) was €945m (+20.7%), operating profit (EBIT) was €325m (+11.4%), and the net profit for the year was €189m (+6.7%). In short, LaLiga produced a solid, positive and growing set of results across the board, achieving the best figures in the competition’s history.

The 2017/18 season was surprising due to two new drivers of LaLiga’s growth breaking onto the scene: commercial revenue and revenue from transfers, which have seized the central role held by broadcasting revenues as drivers of annual growth.

In the case of commercial revenue (without including turnover from advertising), the annual increase was 34.1%, amounting to the turnover of €838m, which is indicative of the fact that Spanish clubs are becoming an increasingly attractive medium for sponsors.

Meanwhile, in the case of revenue from player transfers (i.e. sale price), the annual increase of 104.3% permitted turnover from this item to double in a single year, with an exceptional entry of €1.018bn, which is symptomatic of the significant capacity for creating sporting value held by the Spanish clubs and SADs.

That said, the audiovisual turnover received by the clubs managed to surpass the €1.5bn mark for the first time and will recover its central role starting in the 2019/20 season as a result of the new audiovisual cycle negotiated for the national market and the international agreements which have been signed.

It is very important to underline that these results have been achieved at the same time as an increase in operating expenses (OPEX) and at a time of high investment intensity (CAPEX).

OPEX (€3.169bn) increased by 18.7% in 2017/18, propelled especially by increases in sports staff expenses, which represent an investment in talent and a potential source of income for LaLiga in the medium term, through both rotation – transfer – as such, as well as the increase in sporting potential and the general appeal of the competition.

Meanwhile, gross CAPEX on infrastructure and players (€1.341bn) followed the same trend with annual growth of 11.8%.

Without doubt, these are highly appreciable levels of expenses and investment, providing the best guarantee of maintaining the quality of LaLiga out on the field of play and its appeal in the medium to long term.

LaLiga achieved all of these figures while simultaneously maintaining a downward trend in the degree of leverage. The ratio of financial debt to EBITDA of the competition was 0.9x, the lowest level on record.

It is equally important to underscore that LaLiga 1|2|3 is contributing more and more not only to the revenue of LaLiga as a whole but also to the earnings (all the indicators are in positive territory and show upward trends) and to the creation of cash flow and value for the business.

Likewise, the two special groupings that we use for internal financial analysis in the Association, Netted LaLiga and Netted LaLiga Santander, which exclude the two largest clubs, are converging more and more rapidly towards LaLiga and LaLiga Santander as a whole respectively. In relative terms, some indexes or ratios are even better. This is indicative of a business that is increasingly more fairly distributed and more sustainable in the long term.

The above has led LaLiga to obtain an overall operating profitability index (ROIC) of 12.3% (15.1% adjusted) in the 2017/18 season, six decimal points higher than the previous season and, in any case, substantially better than those of other leading competitions.

Finally, LaLiga earmarks around 2.0% of its turnover for corporate social responsibility projects, an amount which is significantly greater than the majority of companies and industries of a similar nature. This allows for the development of the pioneering initiatives mentioned in the report which give us hope and stimulate us, and of which we feel proud.

Furthermore, LaLiga’s clubs create a professional football industry which produces an impact on national GDP equivalent to 1.37% and which directly or indirectly employs around 185,000 people (0.98% of the average employed population in Spain over the past year). To this, we must also add over €4 billion which it contributes to the state coffers in the form of taxes.

SOURCE: https://brandspurng.com/2019/05/09/laliga-grows-20-6-and-posts-revenue-of-e4-479-billion/