₦airaland Forum

Na wa. That's like an average of 1Billion per Kilometer...

The Lagos State Technical and Vocational Education Board (LASTVEB) has organised a five-day orientation programme for all eligible students in State Technical Colleges as part of efforts to adequately prepare them for the commencement of their compulsory three-month Student Industrial Work Experience Scheme (SIWES) in different organisations.

Mrs. Omolara Erogbogbo, Executive Secretary (LASTVEB), speaking at the orientation programme, said SIWES is a requirement for students in the Technical Colleges to graduate and must, therefore, be properly supervised by the industrial managers and their school teachers.

She said the programme must be taken seriously, being a period for students to put what they have learnt into practice as well as get exposed to the use of modern machines, equipment and tools.

The Secretary implored participants to stay away from drugs, alcohols and bad gangs, urging them to abide by the rules and regulations set forth by their employers during the programme which will take place between January 21 and April 26, 2019.

Mr. Laolu Oguntuyi, Director, Technical and Vocational Services (DTVS), and one of the facilitators remarked that the SIWES is different from the classroom setting and it is not a vacation job but a course of study.

He, therefore, advised the students to always make use of their logbooks by recording their daily activities in it, to be good ambassadors of their colleges and to abide by the rules and regulations of industries they are attached to for SIWES.

SOURCE: https://brandspurng.com/2019/01/22/lastveb-organises-siwes-programme-for-students/

Despite the positive projections and huge potential locked in Nigeria’s emerging e-commerce landscape, the sector is proving more than a tough nut to crack for the majority of players in the country.

Even for the sector’s pioneers, the struggle is real.

E-COMMERCE IN NIGERIA: AN EVOLUTION

Heralded by BuyRight Africa.com, a platform founded by serial entrepreneur, Leo Stan Ekeh and which was challenged by the absence of credit card and e-payment infrastructure when it was launched over 12 years ago, e-commerce in Nigeria has always been and is still widely regarded as the next big thing.

The rise of latter-day powerhouses, Jumia and Konga also brought a flush of confidence in the sector. This was basically due to the keen interest from angel investors and venture capitalists, buoyed by projections of Nigeria’s booming youthful population and aspirational mindset of its growing army of digitally-savvy people.

The reality is, nevertheless, a bit less enthusiastic.

Jumia, owned by the Rocket Internet Group, has struggled to make its continent-wide business strategy work despite attracting considerable investment. Years of heavy expenditure on marketing and overheads coupled with glaring strategic deficiencies in how it has tackled Africa’s biggest market has turned the firm into a loss-making venture.

The company has also repeatedly taken some huge hits over product quality and bad press over the poor conduct of some of its staff. Jumia has sunk deeper into losses on an annual basis, with figures reportedly in the region of over $150m. Despite reporting a Gross Margin Value (GMV) of €163.4m in Q2 2018, its Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) tells a sorry tale of huge liabilities in its balance sheet. Further fuelling fears are reports of a likely exit for its biggest investors after it emerged that Rocket Internet was planning to sell off its stake in the firm, even as other investors - MTN, AXA, Orange, Millicom and Goldman Sachs have remained mute.

A TALE OF FALSE DAWNS

In little less than the space of two years, a number of promising e-commerce ventures have either quietly exited the Nigerian market or declared their decision to make a shift away from a decidedly difficult terrain, ironically one that is widely regarded as boasting the right mix of ingredients required in creating Unicorns that will match the likes of other global super-heavyweights such as Amazon and Alibaba.

According to research, the Nigerian e-commerce industry is currently worth over $17bn, with estimates indicating that the sector could account for over $29bn by 2022. For the likes of Gloo.ng, OLX, DealDey and Efritin, among many others, however, e-commerce in Nigeria is no child’s play.

Of the distressed lot, perhaps only Yudala, founded by a then-23-year-old Harvard alumnus, Prince Nnamdi Ekeh in 2015, was able to successfully navigate the Nigerian e-commerce terrain.  Yudala had entered what was a keenly-competitive sector with a futuristic omnichannel strategy which fused a robust online platform with a chain of retail stores nationwide. In addition to pioneering a series of firsts, Yudala was equally responsible for the first drone delivery in the e-commerce world and also holds the record of being the first e-commerce company to introduce an offline version of the hugely popular Black Friday sales. The Yudala brand name was, however, absorbed into Konga after the combination of the operations of both firms in May 2018.

Gloo.ng founder, Olumide Olusanya, had cited the 2016 recession and its impact on business, a negligible Nigerian middle-class market and huge logistics challenges as reasons for the exit of the almost seven-year-old e-commerce firm which positioned itself as an online super-store from inception. The story was not much different for Efritin, an online marketplace for used goods which officially pulled the plug on its Nigerian operations on January 9th 2017, barely 16 months after its official launch.

The announcement that Dealdey, Nigeria’s only daily deals website, was shutting down its Nigerian operations almost a year after suffering severe financial challenges which led to a mass staff cull, did not come as a surprise to many. The company had been struggling for a while to keep its head above water despite being the subject of a well-publicized acquisition in 2016 by Ringier Africa Deals Group (RADG), a joint venture between Swiss Ringier Africa AG and South African Silvertree Internet Holdings (Pty) Ltd.

Dealdey’s ouster came on the heels of reports that Career24, a leading online job portal owned by Naspers will be shutting down operations in Nigeria in March 2019. Naspers, headquartered in Cape Town, South Africa is the face behind much of Africa’s largest pay-TV business and newspapers and is widely regarded among the world’s biggest investors in e-commerce after a recent surge of investments in a number of online-based businesses on the continent.

OLX, an online classified ads firm founded in 2006 and another Naspers-owned venture, also ran into heavy weather in Nigeria and some other African countries where it shut down its operations. Although boasting a useful business model, issues involving the unscrupulous practices of some sellers and buyers on its platform and the inability of the company to find a lasting solution led to a massive loss of confidence and subsequent failure of the business in Nigeria.

For Chris Uwaje, Africa Chair for IEEE World Internet of Things (WIoT), the challenge in cracking the Nigerian e-commerce market lies heavy in the approach or business strategy adopted by most players, many of whom fail to situate foreign business models, ideas and strategies within the culture of the people and Nigeria’s existential realities.

According to him, the high failure rate in the sector can be attributed to an absence of reliable knowledge of the nuances and predilections shaping the average Nigerian’s shopping behaviour which local know-how and capacity bring.

Uwaje revealed that when asked which of the current players they would invest in given a seed fund of $1m, over ninety per cent of a select group of budding tech entrepreneurs he was mentoring had plumped for Konga.

“It came as no surprise because of the local know-how, strong international network, consistent success and decades of experience in the Nigerian technology sector at the disposal of the new owners of Konga. Aligned to this is the quiet way they have gone about in repositioning the business without the usual hype that accompanies most e-commerce ventures in Nigeria.”

“Nigeria remains a fertile business environment, especially for online-focused ventures such as e-commerce companies. It is also a country with peculiar challenges and a very strong traditional approach to retail which requires a deep sense of local know-how and understanding by players. This is one of the biggest hurdles faced by e-commerce start-ups here. Many e-commerce ventures run with foreign concepts and strategies more suited to foreign climes, making it harder for them to survive the difficult terrain that is the Nigerian business space.”

Dr. Wale Ogunfunwa, an e-commerce enthusiast, is of the same school of thought.

In his opinion, a lot of e-commerce companies copy what obtains in advanced climes such as Europe and the United States, with scant regard for the infrastructural challenges encountered here.

“Here in Nigeria, logistics remains one of the biggest headaches faced by e-commerce players as our transport infrastructure is severely underdeveloped. Worse still, there is no reliable physical addressing system in some major cities,  not to talk of the hinterlands. If you transplant a foreign strategy that works in Europe where delivery and transport infrastructure is highly developed, for instance, but which fails to address these identified gaps here, then you are bound to fail,” he submitted.

“Trust is also a major issue. A customer who has been disappointed the first time is harder to convince. Winning the e-commerce war in Nigeria requires a strong player backed by core local know-how and resources that can build and own its own delivery and supply chain network that will reduce delays to the barest minimum, while also presenting a strategy that will accommodate Nigerians’ proclivity for traditional retail.”

WHAT HOPES FOR THE SECTOR?

Considering the struggles of other players, the battle for the soul of the Nigerian e-commerce market is presently a straight fight between Jumia and Konga. However, it is clear where the pendulum is currently swinging.

Acquired by the Zinox Group from erstwhile majority investors - Naspers and AB Kinnevik - in a landmark deal in late 2017, Konga was one of the pioneers of the e-commerce revolution in Nigeria. Its online marketplace model, which was initially criticized by rivals including Jumia, made it an instant hit with a Nigerian populace that had just been bitten by the e-commerce bug. The hugely popular model saw it rack up thousands of customers and merchants on its online platform which lived up to its name as Nigeria’s largest online mall, resulting in Jumia eventually copying and adapting the marketplace model.

In May 2018, Konga’s operations was merged by its new owners with that of Yudala, another bright star in the e-commerce space which had taken the e-commerce sector by storm with a futuristic omnichannel business model. This model featured a combination of its online platform with a growing network of brick-and-mortar stores across Nigeria. Interestingly, the foresight in its omnichannel model was justified by global e-commerce giants such as Amazon and Alibaba which wasted no time in adapting it - a development that goes to prove that Nigerians are capable of leading from the front.

Since its acquisition by the Zinox Group - arguably Africa’s most structured technology conglomerate with over 30 years of brilliant success in the Nigerian technology space - and its subsequent merger with Yudala, Konga has gone a long way in restoring investor and customer confidence in the sector.

BUILDING CONFIDENCE THROUGH STRATEGIC INVESTMENTS

The owners of the new Konga - renowned for years of successfully navigating Nigeria’s technology space - have retained the omnichannel business strategy that Yudala was famous for. Not only that, it has taken this further by focusing on expanding its reach across Nigeria’s considerably huge landscape - a move that remains instrumental in capturing more Nigerians in the e-commerce net. As at today, Konga boasts over 35 physical retail stores across disparate locations nationwide, with many more in the pipeline. The company boldly claims its target is to reach the 774 local government areas in the country.

Also working for Konga is the huge investment in technology that is repositioning the business and its operations for cutting-edge efficiency. In addition to a world-class partnership with global tech giant Microsoft through which it is revamping its technology backbone, Konga also boasts a well-equipped internal technology team which has built a suite of robust applications driving the company’s operations.

The company has also invested heavily in the acquisition of massive regional warehousing facilities including the latest - an 85,000 square meter space in Lagos.

It is, nevertheless, through two internally-owned businesses with which it has resolved the pain-points of logistics and payments that Konga has distinguished itself from the rest of the e-commerce field.

For Konga, Kxpress - an in-house logistics company, has been a source of blessings. Through the significant investments made by its new owners, Konga possesses arguably the most efficient delivery/logistics company with the largest network of line-haul trucks, vans, buses and motorbikes in the e-commerce space and with the capacity to handle last mile delivery to every part of Nigeria. Deliveries are now handled within 24-48 hours and with minimal delays, further growing user confidence in the sector.

And through KongaPay, a Central Bank of Nigeria (CBN) licensed payment system owned by the company — Konga has also de-mystified the payment challenge. KongaPay, which works with all banks in Nigeria, allows users domicile funds in an e-wallet for their transactions on the Konga platform. In addition, Konga offers other options such as payment on delivery (POD), payment on pick-up of items and cash payment in all of its stores nationwide.

Efforts to speak with Leo Stan Ekeh, Chairman of the Zinox Group - Konga’s parent company - were unsuccessful. However, Nick Imudia, co-Chief Executive Officer, Konga Group, disclosed that the company is determined to change the e-commerce narrative in Nigeria for good.

“Creating confidence in the marketplace and in the minds of Nigerians of all classes is key to what we are doing. The Konga strategy is attuned towards considering the culture of the people, by providing them multiple platforms. Our intention is to continue to optimize and we certainly will not disappoint the trust reposed in us,” he disclosed.

The case for Konga is an even simpler one for Uwaje.

"The rise of e-Commerce in Nigeria will accelerate the innovative application and use of Drone Technology to deliver essential goods and services nationwide, facilitate rural community education as well as save critical lives at all levels of national emergencies.

“An e-Commerce platform such as Konga should be viewed as a too-big-to-fail enterprise...E-Commerce has great potential to reduce traffic congestions, infant and maternal mortality, deliver healthy living, wellness and improve meaningful life expectancy. These amongst others are the deep benefits of uplifting Konga as Africa’s foremost e-Commerce Platform,” he concluded.

Contributed by Sammy Lee, a global e-commerce researcher based in the United States

SOURCE: https://brandspurng.com/2019/01/22/building-confidence-in-nigerias-tough-e-commerce-market/

Weekly news recap...


https://www.youtube.com/watch?v=2C4DesGuTpg

United Nations High Commissioner for Refugees (UNHCR) reported that more than 9000 Nigerians had crossed to Cameroon where they were denied refuge following a deadly attack against the town of Rann...

Statement by Eric Batonon, Nigeria Country Director for the Norwegian Refugee Council:

“The Norwegian Refugee Council calls for Nigerian and Cameroonian authorities to provide immediate assistance to thousands of Nigerian civilians fleeing the violence. Last week, UNHCR reported that more than 9000 Nigerians had crossed to Cameroon where they were denied refuge following a deadly attack against the town of Rann, in northeast Nigeria. The forced return of civilians to areas of violence is a breach of international and regional agreements, such as the Tripartite Agreement, that guarantee the protection and human rights of forcibly displaced persons.

The authorities on both sides of the border should provide necessary assistance and safety for the displaced people and allow aid workers to assist.

The Norwegian Refugee Council is deeply concerned by the recent violence. Currently, there is no aid organisation left in Rann to make an accurate assessment of the humanitarian needs and of the number of people remaining in the town”

SOURCE: https://brandspurng.com/2019/01/22/nigerian-refugees-fleeing-to-cameroon-cannot-be-sent-back-norwegian-refugee-council/

The Federal Government of Nigeria says job creation and empowering young Nigerians to be entrepreneurs is the focus of the present administration.

Minister of Science and Technology, Ogbonnaya Onu stated this while commissioning a light leather manufacturing workshop in Sokoto.

The minister also revealed that the Buhari led administration is determined to encourage young entrepreneurs to thrive in their areas of choice by providing technical assistance as well as creating the enabling environment for their businesses to blossom.

The minister says the present administration is working hard to ensure the industrialisation of the country, starting with textile and leather industries.

The commissioned workshop has the capacity to train one hundred persons in a session in various skills.

SOURCE: https://brandspurng.com/2019/01/21/fg-inaugurates-leather-factory-in-sokoto/

https://www.youtube.com/watch?v=2C4DesGuTpg

The interruption in the delivery of humanitarian assistance to Rann is the direct result of an attack that started at dusk on 14 January 2019 on the military base...

The United Nations Humanitarian Coordinator in Nigeria, Mr Edward Kallon, has expressed grave concern over the interruption of aid delivery to tens of thousands of internally displaced people in Rann, a town in eastern Borno State about 10 kilometres from the border with Cameroon, following a deadly attack by a non-state armed group.

The interruption in the delivery of humanitarian assistance to Rann is the direct result of an attack that started at dusk on 14 January 2019 on the military base and continued into the next day. At the time of the attack, an estimated 76,000 internally displaced people were living in Rann.

A medical clinic, warehouses with humanitarian supplies and accommodation for aid workers were looted and/or destroyed in the attack, and the market and shelters in the camp were burned down by the attackers. Several civilian fatalities have also been reported, although the total number is not yet known, and thousands are reported to have fled to Cameroon. In addition, 14 aid workers, who were in Rann during the attack and able to hide, were withdrawn the day after by helicopter. At present Rann is inaccessible to international humanitarian organisations both by road and by air.

“The attacks on Rann, that are increasingly frequent, are having a devastating impact on the civilians taking refuge in this isolated town and severely affecting our ability to deliver life-saving aid to women, men and children in need,” said Mr Kallon. “This attack has spread fear among an already vulnerable population, and humanitarian assets were also targeted. I urge the Government of Nigeria to protect civilians, including aid workers,” Mr Kallon concluded.

The conflict in north-east Nigeria, now in its tenth year, has triggered massive displacement and caused a severe humanitarian crisis with more than 7 million people in need. In addition to the attack in Rann, clashes in Kukawa and Monguno local government areas in northern Borno State have forced more than 43,000 people to flee their homes since November, with more than 32,000 taking refuge in Maiduguri, the Borno State capital.  Many of these people are converging on already congested camps or sites for internally displaced people, forcing hundreds of individuals to sleep in overcrowded shelters or outside.

SOURCE: https://brandspurng.com/2019/01/19/boko-haram-has-made-parts-of-borno-inaccessible-un/

The Nigerian passport has been ranked 91st strongest in a world ranking of passports which was dominated by Asian countries. According to the ranking named the Henley Passport Index, holders of Nigerian passports have visa-free access to 47 destinations.

The report ranked Nigeria’s passport low as the 42nd most powerful in Africa, ahead of Burundi, Djibouti, DRC, Ethiopia, Libya and South Sudan, Sudan, Eritrea and Somalia.

“As the world economy has become increasingly globalised, the need for greater visa-free access has grown steadily,” said the report.

Henley & Partners published its 2019 passport index and, once again, the world’s top is dominated by Japan while there is no African country in the world’s top 10.

In Africa, the top 5 is dominated by Seychelles (27th global rank), Mauritius (51st global rank), South Africa (53rd global rank), Botswana (82nd global rank) and Namibia (68th global rank). The bottom 5 is made of Ethiopia (96th global rank), Libya and South Sudan (97th global ranks), Sudan (99th global rank), Eritrea (100th global rank) and Somalia (103rd global rank).

Let’s note that Equatorial Guinea progressed the most with three places gained in this ranking.

Countries linked to terror networks like Pakistan, Somalia, Syria, Afghanistan and Iraq were bottom of the pile, with their citizens requiring visas to access the majority of countries.

Henley Passport Index is an index of all the passports ranked according to the countries that welcome them without a visa. The data used in the ranking are compiled from the International Air Transport Association (IATA).

SOURCE: https://brandspurng.com/2019/01/17/nigerian-passport-ranked-91st-strongest-globally/

While there are many pieces of great content that we are looking forward to this year, MTV Base’s programming is definitely on the top of our list. For music lovers and entertainment fanatics alike, MTV Base has continued to churn out high-quality programs that we’ve all come to know and love. While the Viacom platform has tons of exciting content that we have come to be fans of, here are our top five shows that we are excited to see in 2019.


https://www.youtube.com/watch?v=hXrN8n9DwG0

1. Celeb Living — No other show on television takes us to the cribs of our favourite celebrities like Celeb Living. Celeb Living always comes correct with lavish pools, huge walk-in closets and all the bigger than life television magic we’ve come to love the show for.


https://www.youtube.com/watch?v=vaMljirU9DI

2. Official Naija Top Ten — Arguably the biggest music chart show in Nigeria, Official Naija Top Ten counts down the biggest Nigerian songs with the personality and effortless charisma of MTV Base VJ, Dada Boy Ehiz. With new episodes every week, Official Naija Top Ten is the best way to see how well your favourite jam is doing while finding out what new jams are making it up the charts.


https://www.youtube.com/watch?v=67abxBnLL5Y?list=PL2bqG1qW9ax_Iblm8XaYUPr2AevmWWa-E

3. Word On The Street — Tagged as the revamped version of Street Request, Word On The Street gives us the behind the scenes access to the biggest A-list events. Along with the behind the scenes look at the events, Word On The Streets also offers viewers exclusive red carpet moments with some of the industry’s biggest names.


https://www.youtube.com/watch?v=VelcOZrIMqU?list=PL2bqG1qW9ax9uyfPsibaPqYLvTdfivIUP

4. Bigger Friday Show — A little canary told us that one of our favourite MTV Base shows of all time is making a comeback and to say that we are merely excited does not cut it. From pranking Timaya and D’ija to stumping Yemi Alade and Cynthia Morgan with their question segment, the Bigger Friday Show has given us some of the most iconic and hilarious television moments in recent history. If the rumours are true, we can’t wait to see how MTV base reinvents the show for 2019.


https://www.youtube.com/watch?v=lVm1MGMyThw?list=PL2bqG1qW9ax9-aDTUitYf8g1yyJKjLywc

5. A Day In The Life — For those of us who always wonder what it is like to be a celebrity if not for one day, A Day In The Life is one stop show. The reality television show styled production trails or favourite celebrities as they take on whatever tasks the day has for them. Seeing the drama behind the magic always succeeds in showing us that these celebrities are really just like us but very different at the same time.

SOURCE: https://brandspurng.com/2019/01/17/5-mtv-base-shows-you-should-definitely-watch-this-year/

The Federal Inland Revenue Service, FIRS, re-wrote Nigeria's collection history in 2018, when it announced, that it has collected a total of N5. 320 trillion.

Tunde Fowler, Executive Chairman, FIRS, who made the announcement in Lagos today at a retreat: "Parliamentary Support for Effective Taxation of the Digital Economy" said it is targeting N8 trillion for 2019.

The N5.320 trillion collection is the highest revenue ever generated by FIRS in history. The highest in FIRS was N5.07 trillion generated in 2012.

FIRS' generation of N5.3 trillion is significant as it was at a period when oil prices averaged $70 per barrel. Oil price was at an average of $100 to $120 per barrel between 2010 and 2013.

The oil component of the N5.320 trillion is N2.467 trillion (46.38%), while thenon_oilcomponent is N2.852 trillion (53.62%). From audit alone, FIRS collected N212,792 billion from 2278 cases with a huge reduction in the audit cycle.

Said Tunde Fowler: "While we have been steadily increasing revenue collection over the years, our cost of collection has actually been going down. In 2016 we collected N3,307 trillion, in 2017 we collected N4,027 trillion and in 2018 we collected N5,320 trillion. Meanwhile, the cost of collection as a percentage of actual taxes collected has been reducing; in 2016 it was 2.6%, in 2017 it was 2.49% while in 2018 it was 2.14%."

"The Service has been making tremendous efforts in also increasing the amount of non-oil revenue it collects. The non-oil collection has contributed 64.99% in 2016, in 2017 it contributed 62.25% and in 2018 it contributed 53.62%. This represents the government's focus on increasing non-oil sources of revenue and the diversification of the Nigerian economy.

Fowler reiterated the fact that only companies that made a profit are obliged to pay taxes. According to him, if a company is situated in Nigeria it is only fair that it pays its fair share of tax for the benefit of all Nigerians.

The Executive Chairman also stated that various initiatives were implemented by FIRS to enhance tax administration and make taxation as easy as possible. FIRS deployed ICT initiatives that enable a taxpayer to pay taxes from anywhere in the world, at any time. With the e-payment channel, one can pay taxes with the click of a button and one can also download their receipts. Other e-Services are the e-Registration, e-Filing, -Stamp Duty and e-Tax Clearance Certificate.

"Taxpayers can now also choose the tax office where they would like to conduct their tax transactions. Before now, if one was registered with a particular tax office, one had to conduct all of their tax transactions in that office. However, to make it more convenient for the taxpayer, they can now choose whichever office they wish to conduct their transactions with.

He noted that Nigerian taxpayers are embracing the modern way of tax collection, introduced by the FIRS through the 6-e Solutions.

Said Fowler: We are automating the collection of Value Added Tax, VAT in key sectors which will facilitate the reduction in compliance cost in the long term. We are doing System to system integration between banks and FIRS. And I am happy to announce to you that we had a 31% increase year on year in VAT collection in the banks that have gone live between Jan 2017- Dec 2018 and collected 25bn so far "Amongst others, there is also the Government Information Financial Management Information System (GIFMIS), which links FIRS to the Office of the Accountant General of the Federation OAGF for real-time exchange of information and data. We are also automating the payment of VAT by states through the State Offices of Accountant General Platform (SAG). This will ensure that we automate and deduct at source and remittance of VAT and WHT from State governments contract payments directly to FIRS's account and so far, collected 13bn.

He noted that taxpayers that requested for and processed their Tax Clearance Certificate, TCC through tcc.firs.gov.ng, from the comfort of their homes. "Tax clearance on the platform grew from 9,574 – 59,350 within a year of introducing the platform.

"Auto VAT collection in key sectors has also facilitated in reducing the cost of compliance. Between January 2017 and December 2018 VAT collection increased by 31% which translates to a collection of N25 billion. Overall, in 2019 VAT crossed the N1 trillion mark. Indeed, VAT is the fastest growing tax type in the world and even rich countries that did not depend on taxation have now introduced VAT, like the United Arab Emirates.

"In 2016 FIRS initiated a tax amnesty programme which attracted over 3000 applications for waiver of interest and penalties. The programme resulted in the payment of over N68 billion out of about N96.2 billion liability established by the exercise.

The Voluntary Assets and Income Declaration Scheme (VAIDS) was initiated by the Federal Ministry of Finance and the FIRS received over 5122 applications under the Scheme. The Scheme resulted in voluntary declarations of over N92 billion, with over N54 billion paid so far by companies.

Fowler also explained how FIRS ascertained whether those companies with banking turnover of N1 billion are tax compliant or not. He said, "FIRS wrote to all commercial banks in May 2018, requesting for a list of companies, partnerships and enterprises with a banking turnover of N1 billion and above. This activity was aimed at ascertaining those companies that are compliant with the tax laws and those that are not compliant. So far, non-compliant organisations have paid about N21.75 billion.

"Companies that had a Tax Identification Number (TIN) and were paying were 45261, those that had a TIN but were not paying were 40611 and those without a TIN and who were not paying were 34504."

SOURCE: https://brandspurng.com/2019/01/16/firs-hits-n5-3-trillion-highest-in-nigerias-history-targets-n8-trillion-2019/

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BMW is sharpening the profile of its flagship models in the luxury segment. The new edition of the BMW 7 Series makes a clear statement of intent with its confident presence, sophisticated elegance and strikingly innovative control/operation, driver assistance and connectivity technology.

The BMW Group celebrated the world premiere of the striking new BMW 7 Series in Shanghai, China. The choice of location for the event underlined the significance of the Chinese market for the company’s new flagship model: in 2018, 44% of global BMW 7 Series sales were made to customers in China (ca. 24,500 units). With the current ongoing launch of a whole range of new models, including the BMW 8 Series range and the BMW X7, today’s event was also an opportunity to showcase the BMW Group’s new luxury line-up. China will be a key market for these luxury vehicles.

Speaking at the event, Harald Krüger, Chairman of the Board of Management of BMW AG and his two colleagues Nicolas Peter, Board Member for Finance and Pieter Nota, Board Member for Sales and Brand BMW, also underlined the wide-ranging strategic importance of China for every aspect of the company. China has been the BMW Group’s biggest single sales market since 2013, and the country is also home to the company’s most extensive R& and production operations anywhere outside Germany.

China accounts for a quarter of BMW & MINI sales

The Shenyang-built seventh-generation BMW 3 Series is set to be one of 25 new BMW Group models due to be launched in China in 2019. China accounted for a quarter of all BMW & MINI customer deliveries in 2018 and with total sales of 639,953 vehicles, last year achieved a 7.7% sales increase. Speaking at today’s event in Shanghai, Harald Krüger confirmed, “In 2019, we are aiming for further solid sales growth in China. The locally-produced BMW X3 will be our main growth driver, in addition to the many new models, we will be introducing throughout the year. China is a very important strategic market for us, for sales, innovation and production, now and in the future.”

Seventh model to be localised in China

The Chinese city of Shenyang is home to the BMW Group’s biggest production base outside Germany, with two existing manufacturing plants and an engine plant. Construction work is underway at Plant Tiexi which will double the size of that facility. In Shanghai today, it was announced that the BMW X2 will later this year become the seventh BMW model to go into production in China.

This decision was taken in response to demand for the BMW X2, increasing supply of this new Sports Activity Vehicle in addition to those built in Germany at Plant Regensburg. This move will further strengthen the competitiveness of the company’s SAV offering in China, following localisation last year of the BMW X3 and in addition to the locally produced BMW X1. From 2020, the fully-electric BMW iX3 will also roll off the production line at Plant Dadong, its sole production location, and be exported from China to markets worldwide. Both plants are currently undergoing extensive remodelling and expansion measures - once the upgrade and extension are completed, further models could be localised as the total capacity is increased gradually to 650,000 units, thereby creating 5,000 new jobs.

All these manufacturing plants, including the engine plant and battery assembly facility, are operated by the joint venture BMW Brilliance. Last year, the production of BMW vehicles in Shenyang grew by 24% to more than 490,000 units. The joint venture has been such a success, the contract is due to be extended until 2040. In this context, the BMW Group is planning to increase its share in the Joint Venture to 75 per cent – a clear sign of the company’s belief in China’s continuing growth.

Crucial role in ACES development

In recent months, the BMW Group has opened two new R& centres in Beijing and in Shanghai. They will play a crucial part in the company’s corporate strategy NUMBER ONE>NEXT, as they will make a significant contribution to innovations in the four major innovation fields know as ACES (Autonomous, Connected, Electrified, Services/Shared). “These four areas are at the centre of our strategy for future success,” said Harald Krüger. “With our two new research and development facilities in China, we want to tap even more into the huge potential of this market, developing technologies and products here which will be of real benefit to customers globally, as we strive to strengthen our position as the world’s leading premium automotive manufacturer,” Krüger continued.

BMW Group was the first non-Chinese automotive manufacturer to receive an autonomous driving road test license in China. Given the complexity of the Chinese road network, lessons learned in China will be invaluable in other markets as the BMW Group moves forward in developing key future autonomous technology. To date, BMW China has completed tens of thousands of kilometres of road tests and hundreds of thousands of kilometres in simulations. The company will also take a seat on the board of the Baidu Apollo automotive driving initiative.

Connectivity plays a major role in China, and the BMW Connected app is already used by over 1.5 million Chinese customers. Now, the app has been linked to the Chinese connected eco-system, thanks to a series of co-operation with Alibaba, Baidu and Tencent. In addition, the BMW Group will be the first premium carmaker to seamlessly integrate Alibaba Tmall Genie, the intelligent voice assistant from Alibaba A.I. Labs, into its cars, with the service becoming available later this year.

China is the world’s biggest market for electrified mobility and BMW is the country’s most popular premium New Energy Vehicle (NEV) brand. The company offers a total of six electrified models in China and sold over 23,000 battery electric and plug-in hybrid vehicles in 2018. The BMW Group was the first premium automotive manufacturer to establish a high voltage battery assembly facility in China and is also the only premium manufacturer that has its own NEV dealer network, with over 330 sales and service outlets in more than 130 cities across China. To further support drivers of electrified vehicles, with its ChargeNow services the BMW Group offers more than 80,000 charging pillars in more than 150 cities.

In the increasingly important field of digitalised mobility services, at the end of last year, the BMW Group was the first non-Chinese company to be awarded a Ride-Hailing licence. The service is based in Chengdu, one of the largest Ride-Hailing hubs in the world, and runs with a fleet of 200 BMW 5 Series, half of which are plug-in hybrids. The Ride-Hailing service will complement the BMW Group’s existing ReachNow Car-Sharing operation, run in partnership with the local mobility company EVCARD and using a fleet of 100 BMW i3 vehicles.

SOURCE: https://brandspurng.com/2019/01/16/bmw-unveils-all-new-7-series-pictures/

Team Empower has emerged the winning team of the Hult Prize On-campus Event in Obafemi Awolowo Univerisity along with runner-ups, Team Vanguard and Team Luminous.

Among a total of 122 registered teams, 93 teams participated in pitch deck submissions and 47 teams were eventually shortlisted to pitch their business ideas aimed at solving youth unemployment to a panel of 15 RockStar judges. The competition was stiff and exciting with students pitching all sort of ideas. Team Empower emerged the overall winner of the competition, closely followed by the runner-ups Team Vanguard and Team Luminous. The competition held on December 15 at the Obafemi Awolowo University.

Team Empower with their startup, Empower Health – aims to be the largest cloud storage of medical information in Africa by providing a platform for accessibility of health records across medical institutions in developed and underdeveloped communities, creating over 10,000 jobs for youths in Nigeria by 2024 in the process.

Team Vanguard with their startup, Vanguard Ag. – aims to be the largest producer and distributor of vegetable and mushroom in Africa by incorporating new innovative technology to ease quick distribution and proper storage, therefore, bridging the gap in the value chain from the point of production till it gets to the final consumer.

Team Luminous with their startup, Agrolite – is creating an alternative to formal education in modern Agricultural practices by training rural youths in their indigenous languages, ultimately creating over 10,000 meaningful jobs in less than a decade and contributing to the food basket in Nigeria and beyond.

The winning teams will go on to represent Obafemi Awolowo University at the regional finals(semi-finals) of the competition to get into the Hult Prize Accelerator and to get a chance to win the grand prize of $1,000,000

SOURCE: https://brandspurng.com/2019/01/16/student-entrepreneurs-from-oau-advance-to-the-semi-finals-of-the-1million-hult-prize-competition/

Just a few days ago, after Naspers’ announcement that its Career24 is shutting down operations in Nigeria effective 1 March 2019, Ringier’s DealDey has also announced the closure of its e-commerce website.

DealDey was established in 2011 by Konga founder Sim Shagaya. In 2016, it was acquired by Ringier Africa Deals Group (RADG), a newly-founded joint venture between Swiss Ringier Africa AG and South African Silvertree Internet Holdings (Pty) Ltd.

NASPERS TO SHUT DOWN ONE OF AFRICA’S MOST POPULAR JOB PORTALS, CAREERS24

Back in 2016 when the deal was announced, Ringier’s Leonard Stiegeler told Techcrunch that the acquisition is part of an expanding Africa strategy “to invest fully in four verticals within Africa: classifieds, content, digital marketing, and e-commerce.”

He added: “The country is an important entry market for e-commerce and there are significant players. We really believe the deals model that relies more on local merchants and offers both goods and services can differentiate itself from the Amazon models that Jumia and Konga are running.”

SOURCE: https://brandspurng.com/2019/01/13/ringers-dealdey-shut-down-operation-in-nigeria/

- Open top concept suggests future direction of LC flagship
- Dynamic design positions LC concept as a halo for the rest of the brand

Lexus shocked the automotive world in Detroit three years ago with the debut of the LC coupe. It was a testament to the brand’s new sense of creative ambition, but it was only just the beginning. Since then, the Lexus design team has been exploring the brand’s evolution and the latest result of those explorations will make its debut at the 2019 North American International Auto Show with the world premiere of the Lexus LC Convertible Concept.

An open-air roadster that is an artful reflection of the LC coupe, the design goal of the Convertible Concept was the expression of “ultimate beauty”. From the rake of the windshield to the smooth contours of the rear decklid that houses the convertible top, every line on the LC Convertible concept was drawn to evoke an emotional response. A stunning design from every angle, the LC Convertible concept stands as an aspirational halo vehicle for the entire Lexus lineup.

“This concept takes the unmistakable design of the LC coupe and reimagines it as a future convertible,” said Tadao Mori, chief designer of the LC Convertible concept. “It blends all the best aspects of the original coupe with the dynamic design of an open-air convertible.”

Long, low and lean, the LC Convertible concept retains the athletic proportions of the LC coupe. It’s a shape that evolved naturally from the original LC design, yet still manages to stand on its own with a unique identity. It blends uniquely Japanese aesthetics with the promise of sensory satisfaction that only a convertible can provide.

In addition to the visual appeal of the exterior sheet metal, the LC Convertible concept attracts drivers and passengers alike with an allure of a cabin that caters to every need. From the comfort of its tailored seats to the feel of every switch and button, everything about this LC is designed to make even the most common trip feel like an occasion. Crisp white leather trim abounds while yellow accent stitching adds a pop of color without distracting from the subtle elegance of the overall design.

More than just a grand tourer, the strong exterior lines of the LC Convertible concept reinforce its performance pedigree. Its short overhangs, 22-inch wheels and wide stance are all reminders of this car’s performance potential.

“A production version of this concept would be exhilarating in many different ways. You would see its dynamic lines as you approach, hear its engine when you started it up and feel everything around you once on the road. It would engage the senses in a way that is unique and exciting every time you got behind the wheel,” said Mori-san.

Lexus LC Convertible concept specifications

mm inches
Length 4770 187.8
Width 1920 75.6
Height 1340 52.8
Wheelbase 2870 113.0

SOURCE: https://brandspurng.com/2019/01/11/lexus-lc-convertible-concept-makes-world-debut-pictures/

Nigeria’s wheat imports in marketing year (MY) 2018/19 are forecast at 5.4 million metric tons (MMT), up 4% from the previous year, primarily due to stagnated production, according to Global Agricultural Information Network report from the U.S. Department of Agriculture (USDA).

Compared to 2017/18 import figure of 5.2 million metric tons, the report attributed the increase to millers’ greater access to foreign exchange to pay for the wheat imports.

The increase comes as Nigeria struggles to expand wheat production, which has been stagnant at 60,000 tonnes in the last three years.

“Despite growing demand for wheat and higher prices, insecurity (arising from Islamist group Boko Haram) continues to limit access to farmland in Nigeria’s main wheat production areas,” the USDA said.

“The average production cost of wheat hovers at roughly US$420 per tonne, selling at US$600 per tonne in the Sahel region.

High production costs are leading farmers and private sector investors to prioritize production for export, where they can obtain higher returns.”

Declining local production

Nigeria, which is Africa’s most populous nation is said to be experiencing a decline in local production while demand for the commodity is significantly increasing, necessitating imports.

Between April and June last year, official data showed that Nigeria imported 1.36 million metric tons of wheat compared with 1.04 million tons in the first three months of the year.

The data published by the National Bureau of Statistics indicated that the shipments coming from U.S., Russia, Canada and Germany cost 114.8 billion naira (US$315.7 million) compared with 87.4 billion naira in the first quarter.

Local production is constrained by the high cost of inputs such as fertilizer and the lack of access to storage facilities.

Nigeria is the world’s number ten buyer of wheat and last year, it spent US$4.4 billion on imports and based on the federal government’s goal to cut on import bill, it plans to reduce the shipments by 60% by 2025, according to the agriculture ministry.

Wheat production stood at 60,000 tons at the end of the 2016-17 season, according to data from the U.S. Department of Agriculture.

The U.S. is the biggest exporter of the grain to Nigeria, with 3.3 million tons arriving in 2017, followed by Russia with 1.7 million tons, according to Nigeria’s agriculture ministry.

The report meanwhile, said that Nigeria’s rice imports in MY 2018/19 are forecast at 2.5 MMT, up 25% compared to the MY 2017/18 figure of 2 million metric tons.

SOURCE: https://brandspurng.com/2019/01/11/nigerias-wheat-imports-to-rise-4-with-stagnant-production/

More than 30,000 internally displaced people have arrived in Maiduguri, mainly from Baga, in recent weeks...

The United Nations Humanitarian Coordinator in Nigeria, Mr Edward Kallon, has expressed grave concern following an upsurge in violence in the country’s north-east that has caused tens of thousands of innocent civilians to flee their homes.

Clashes on 26 December 2018 between Nigerian government forces and non-state armed groups in Baga town, on the shores of Lake Chad about 200 kilometers north of state capital Maiduguri, triggered the massive displacement, with most women, men and children converging on already congested camps or sites for internally displaced people in Maiduguri or Monguno town. A subsequent attempted attack on Monguno on 28 December 2018 has exacerbated the situation, generating further displacement amid the uncertainty caused by the clashes.

“The impact of the recent fighting on innocent civilians is devastating and has created a humanitarian tragedy,” said Mr Kallon, after a visit to Monguno and to Teachers Village camp for internally displaced people in Maiduguri. “It is heart-wrenching to see so many of these people living in congested camps or sleeping outside with no shelter. Civilians continue to bear the brunt of the conflict and the United Nations is extremely concerned about the impact that violence in north-east Nigeria, especially in Borno State, is having on civilians.”

More than 30,000 internally displaced people have arrived in Maiduguri, mainly from Baga, in recent weeks. The majority of these people have arrived since 20 December 2018, often after arduous journeys with young children. This includes an estimated 20,000 internally displaced people who have arrived in Teachers Village camp in Maiduguri, stretching the camp’s capacity beyond the limit. It is still unclear how many people are taking refuge in Monguno, but tens of thousands of people are in need of humanitarian assistance, notably shelter, food, water and sanitation.

Some 260 aid workers have been withdrawn from three local government areas (Monguno, Kala/Balge and Kukawa) affected by the conflict since November, affecting the delivery of humanitarian assistance to hundreds of thousands of people. This is the largest withdrawal of aid workers since the international humanitarian response scaled up in 2016. While aid workers have started to return to some areas to respond to the urgent, life-saving needs, the lack of a secure operating environment is preventing a return to normal humanitarian activities.

SOURCE: https://brandspurng.com/2019/01/10/un-laments-upsurge-in-boko-haram-attacks-withdraws-260-aid-workers-from-borno/

The World Obatala festival aimed at promoting the Yoruba culture and tradition is set to hold from January 15 to 28, 2019 in IIe-Ife, Osun State.

Obatala festival which is in its seventh edition is a two weeks long activity which is expected to begin with a colloquium on January 15 at the Oduduwa Hall, Obafemi Awolowo University, Ile-Ife, Osun State.

A statement by the Organising Secretary on the Obatala Festival, Oba Alamo Obatala Ife, Oba Olufemi Dada Oludayo-Akowe, said the festival is an annual event held in IIe-Ife because it is the cradle of mankind and will be organized by the Ooni in Council, His Imperial Majesty, Oonirisa Adeyeye Enitan Babatunde Ogunwusi, Ojaja II, the Ooni of Ife through the Arole Obatala, Loja Iranje Idita Ife, the Obalesun Obatala Agbaye HDG Oba Isoro O.O.O Dada.

According to Yoruba mythology of creation, Obatala is the prominent messenger of the Almighty God who aided the creation of humans by helping with the formation of the human head.

The Organising Secretary said that during the Obatala festival, devotees and worshippers of Obatala, a religious group would engage and entertain guests through dancing and cultural performances by different groups in commemoration of Obatala, the goddess of creativity.

Obatala festival creates an avenue for the gathering of both cultural and religious groups to honour the great Yoruba deities, Obatala, who was believed to have been sent on a very crucial mission by the Almighty creator.

The goddess mostly reverenced by the Yoruba race left an indelible mark in the life of mankind; the Yoruba in particular often celebrate her because she was an intercessor between mankind and the Almighty.

The festival is celebrated in IIe-Ife, Nigeria as well as Brazil, Haiti, Cuba, United States, Trinidad, Tobago and West African countries.

Meanwhile, leading corporate bodies, multinational companies, foreign embassies and tourists have signified interest in being part of this year’s festival.

Most significant is the fact that the Yorubas in other African countries have signified their intention to attend the event.

SOURCE: https://brandspurng.com/2019/01/10/world-obatala-festival-begins-next-week/

Photo by Maria Nunes. Copyright 2017.

The Lagos State Government on Wednesday informed interested indigenes that the online registration for the 78 Regular Recruits Intake for Trades/Non-Tradesmen and women which had commenced on 19th of December 2018 will end on 30th of January, 2019.

A statement issued from the Office of the Secretary to the State Government (SSG), Mr Tunji Bello, said indigenes interested should, therefore, apply through the recruitment portal http://recruitment.army.mil.ng by creating a username and password.

It added that after filling the online application and guarantor forms appropriately, candidates should then submit online and also print out the copies, stressing that applicants must be Nigerian citizens by birth and possess a National Identity Card in addition to having the minimum required four credits, including English Language, in not more than two sittings in WASSCE/GCE/NECO/NABTEB.

The release emphasised that in addition to the above qualifications, candidates applying as tradesmen/women must also possess OND/Trade Test/City and Guild Certificate, noting that knowledge of additional Nigerian languages other than the mother tongue is an added advantage.

According to the statement, “Applicants for Non-Tradesmen/ Women must be between the ages of 18 - 22 years while applicants for Tradesmen/Women must be between the ages of 18–26 years by the 18th of February 2019 and must also not be less than 1.68 and 1.62 metres for male and female respectively”.

“There would be no pre-selection Computer Based Test to be conducted for applicants and screening of potential recruits would be done at the candidates’ respective States of Origin while shortlisted candidates screening exercise is slated for February 1st; all successful candidates would be transported to the Depot of the Nigerian Army for documentation and training from the 1st of March, 2019”, the statement added.

SOURCE: https://brandspurng.com/2019/01/10/online-registration-for-nigerian-army-78-regular-recruitment-ends-on-january-30-2019/

2018 oversaw the continued evolution of what it is to be a PR professional, as it became more influenced by digital elements, social media and marketing.

Importantly, as content became more visual, it superseded the tried tested methods, such as traditional press releases, whilst also bringing about the rise in the use of video, influencer and infographic content. This article will highlight the upcoming trends that need to be monitored in 2019.

1. PR assumes a partner role

PR will move to a position where it is a strategic partner to stakeholders. Instead of pitching press releases, PR will become a content partner for the media identifying opportunities for news stories and providing excellent visual assets they can use.

Instead of pitching influencers, PR will attract and retain loyal advocates for the brand. That can be achieved by halting being a press release machine and becoming a true content partner to the media, by also seeking true brand advocates rather than only influencers.

2. Artificial intelligence (AI) will impact how PR is done

One of the biggest changes in 2019 is AI making an impact on what public relations pros do and how they do it. Many of the more mundane tasks PR practitioners do can be automated, which makes them good candidates for AI.

While AI in PR is in its infancy, there are areas like influencer marketing in which AI can already save time for PR pros. PR pros can discover ways to use artificial intelligence in their public relations strategy while keeping their brand relevant.

3. A sharper distinction between public relations and media relations

2019 the year that PR pros finally realise that public relations and media relations are different activities. Public relations simply means communicating with your constituents and there are so many amazing ways to do that directly by creating great content.

Media relations — working with journalists to tell a story — is a subset of public relations but is what most PR people focus on, limiting their reach. PR pros should not limit their PR strategy to media relations – instead, they should create a full and comprehensive PR strategy. Create great content that tells a story, not just for the media, but for your constituents.

4. Storytelling and relationship building become priorities

The two most important skills for a PR professional – storytelling and relationship building – haven’t changed. But the ways those skills are being deployed is changing.

Beyond the media and even industry influencers, PR pros will expand the audiences they work with to include a broader set of partners: vertical websites, content syndicators, complimentary product vendors, trade associations, and others who can help bring their stories to a wider audience.

5. Fake news frenzy escalates

Another powerful trend that has continued to grow is that of fake news. What started a few years ago as a theory has blown into an all-out war against news media outlets — and journalists are definitely feeling the heat. They are effectively in a fight to win back the trust of their audience. This has rippling effects on the PR industry.

As PR pros prepare campaigns, content, and even press releases, they must be alert to any potential threats to their brand’s reputation. What they can do is to recognise the pressure that journalists are under and be specific in terms of quotes, citing all sources, and being hyper-vigilant when it comes to figures and statistics.

If there’s any constant among these trends, it’s that PR continues to evolve. If you’re not changing along with the industry, you’ll be left on the sidelines, a relic of the PR that was. But with the right insights and tools, you can stay on top of your game. These trends will put you on the right path for a successful PR 2019.

SOURCE: https://brandspurng.com/2019/01/08/5-pr-trends-to-look-forward-to-in-2019/

Even with the return of the cinema culture to Lagos in 2004, the largest local government in our centre of excellence boasts of only one cinema located at Igando. There were no cinemas on the mainland in Lagos 10 years ago, now all that has changed.

Presently cinemas are located on both sides of the Atlantic.

The only problem is that when you match the population against the number of cinemas in the city, there is a hole in between.

Even after the popular auditing firm Price Water Cooper, in a recent report predicted that the 114 screens in Nigeria would increase to 152 by 2022, the report also insists that this growth would not be enough to meet the reemergence of the cinema culture.

What are the problems hindering a rapid increase in the number of cinemas to catch up with this trend? Would cinema houses ever catch up?

Bounce News spoke to Chris Nkemchor Cinema Manager for Lighthouse cinemas on the problems and possibilities of this renewed love by Nigerians for the big screens.

“I just got off the phone with a school, who plan on bringing their pupils to the cinema. You see a lot of things like this where young people are introduced to the cinema at a young age has helped the recent increase in the love for the cinema” he explained.

Chris says that one of the biggest challenges of cinemas catching up is funding.

“Cinemas are of different grades it depends on your budget. There are small cinemas that only do Nigerian movies because they cannot afford the bigger machines used in larger cinemas.

The machine used for displaying the movies costs as much as $10,000. So, you can imagine if your cinema has up to 5 screens, that is $50,000 (18million Naira).

“Then there are weekly license renewals for the machines. There are also rates you pay for the hall based on the seating capacity, and rates for the licensing of the screen.

“Then you talk about paying the foreign distribution companies to have access to their movies, and of course, there is the issue of electricity and renting the space.

“Therefore, some cinemas eventually do not start because they do not meet the standard requirements”, he said.

Chris said cinemas are opening in quick succession and suggests that if a cosmopolitan city like Lagos can get up to 250 screens.

“With a population of 20 million people in Lagos, with a large population of young people, Lagos alone would require more than double the size of the current number of cinemas and screens. I strongly believe that we can get there very fast,” he told Bounce News.

SOURCE: https://brandspurng.com/2019/01/07/can-lagos-cater-to-its-growing-cinema-thirst/

Today Lexus unveils a new marketing campaign to launch the first-ever 2019 UX, a luxury compact crossover. Originally released as a concept in 2016, the UX was deliberately designed and engineered for the city and the “modern urban explorer” — those seeking a fresh, contemporary and dynamic take on luxury driving; buyers with an imaginative lifestyle who explore, experiment and defy.

The campaign embodies the notion that cities are the new frontier of American culture — a canvas for experimentation and creativity in all corners, from new ideas in fashion, food and architecture to artistic expression. It’s a place where pioneering people and ideas create the inventive and visionary; where exploration of the city is an exploration of oneself.

“The spots highlight how our new crossover reflects the city from every angle and is made to conquer today’s frontiers,” said Cooper Ericksen, Lexus vice president of marketing. “Combining cutting-edge craftsmanship, seamless connectivity and bold design, the UX is the perfect intersection of form and function.”

“Plant a Flag,” the hero TV spot, begins airing nationally today. The commercial features a modern city, a territory where progress, innovation and adventure await those who are brave enough to explore. Opening with a bold, orange crossover driving through a dark, mysterious metropolis, the camera changes perspectives and viewers realize the UX isn’t driving horizontally on the road. It’s driving vertically up the side of a skyscraper — revealing that the city around us is the new frontier, and the UX is the crossover crafted to conquer it. A second, complimentary TV spot, “A Different Frontier,” shows how the UX wasn’t just made for the city — it was made from the city. As the UX makes its way through city streets, the spot highlights how the architecture of urban environments uniquely shaped and inspired the design, technology and engineering of Lexus’ newest luxury utility vehicle.

Multicultural spots were also created for Black, Hispanic and LGBTQ audiences, all directed by renowned film and music video director Joseph Kahn. “The New Renaissance” will air on TV One and BET, with targeted Prime programming. “Mission: Possible” will run across top national Hispanic networks such as Univision, CNN en Español, Telemundo, Univision Deportes and Discovery en Español. The LGBTQ digital video, “One of a Kind,” will have the presence on sites like OUT, Advocate, Passport, Revry, Gay Ad Network and Edge Media. Traditional and non-traditional media formats such as in-language digital, social, paid search and Connected TV will target Chinese, Korean and Asian Indian audiences, showcasing adaptations and translations of the general market creative.

The general market TV spots will air during prime time, cable, late night and sports programming, and during cultural milestones such as The Academy Awards and NFL Playoffs. Full-page colour print ads will run in top-tier lifestyle, travel, wellness and auto publications, such as GQ, Food & Wine, AFAR, Real Simple, Car and Driver, and more. The UX will have a strong digital presence through online videos and banners across all major social media platforms and popular sites like VICE, Bustle and Vox Media. Lexus will target on-the-go consumers with sponsored audio content on Spotify playlists and integrations within key NPR podcasts. Out-of-home placements will reach audiences in unexpected spaces such as movie theatres, airports, elevators and fitness centres in key markets.

To extend the reach of the campaign, Lexus is partnering with key media entities to produce custom content focused around the first-ever UX. Through a collaboration with Givewith and Beautify Earth, three local artists will help revamp an urban community with the development of engaging art murals around Los Angeles this January. Over the next six weeks, Bustle will release video content featuring seven women pioneers transforming their industries and cities — including Lexus UX Chief Engineer Chika Kako. A partnership with Vox Media’s “Explainer” series this January will examine the ever-changing nature of city streets through product-focused videos. Lexus and VICE will produce a documentary photo series, featuring people that have taken ideas originally conceived for the great outdoors and adapted them to work in the urban landscape, inherently drawing a connection to the UX. Additional content partnerships with National Geographic and Discovery Network will launch later this month.

The UX is on sale in dealerships now. Consumers have a choice between the UX 200 and hybrid UX 250h with all-wheel drive, both available in F SPORT. For more information on the first-ever UX, click here.

Lexus' passion for brave design, imaginative technology, and exhilarating performance enables the luxury lifestyle brand to create amazing experiences for its customers. Lexus began its journey in 1989 with two luxury sedans and a commitment to pursue perfection. Since then, Lexus has developed its lineup to meet the needs of global luxury customers in more than 90 countries. In the United States, Lexus vehicles are sold through 241 dealers offering a full lineup of luxury vehicles. With six models incorporating Lexus Hybrid Drive, Lexus is the luxury hybrid leader. Lexus also offers eight F SPORT models and two F performance models. Lexus is committed to being a visionary brand that anticipates the future for luxury customers.

SOURCE: https://brandspurng.com/2019/01/03/lexus-designs-first-ever-ux-for-the-modern-urban-explorer-pictures/

Nigeria has been rated the 110th best country for business in the world in 2019, out of 161 graded countries.

Top on the list are United Kingdom (1), Sweden (2), Hong Kong (3), Netherlands (4), New Zealand (5) and Canada (6).

The United States of America is rated 17th, below Ireland and Finland.

South Africa, according to the list released by Forbes, came first in Africa.

With a population of 203 million people, a GDP growth of 0.8 per cent and GDP per capita of $2,000, Nigeria is ranked 14th in Africa.

The rating puts Nigeria behind South Africa (59), Morocco (62), Seychelles (66), Tunisia (82), Botswana (83), Rwanda (90), Kenya (93), Ghana (94), Egypt (95), Namibia (96), Senegal (100), Zambia (103) and Cape Verde (104).

Giving the criteria for the rating, Forbes said, “We gauged the Best Countries for Business by rating nations on 15 different factors, including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape and investor protection. Other metrics included were workforce, infrastructure, market size, quality of life and risk. Each category was equally weighted.

“The data is based on published reports from Freedom House, Heritage Foundation, Property Rights Alliance, United Nations, Transparency International, World Bank Group, Marsh & McLennan and World Economic Forum.”

Nigeria rated 115 out of 153 assessed countries the previous year, with a GDP growth of -1.6 per cent and GDP per capital given as $2,200.

The country was 15th in Africa during the period.

SOURCE: https://brandspurng.com/2019/01/03/nigeria-ranks-110th-on-forbes-best-country-for-business-in-2019/

BlackBerry once ruled the smartphone world. The Canadian company was then known as Research In Motion launched an entirely new smartphone experience with its secure, keyboard-equipped phones that became the choice of business users across the globe. In fact, the company was not only dominating the U.S. smartphone market with a 55% share nearly a decade ago but was also successfully defending its position from upstart Apple.

The iPhone’s U.S. smartphone market share had dropped from 30% in the third quarter of 2008 to 19.5% in the first quarter of 2009, according to market research firm IDC. Consumers were still leaning toward BlackBerry smartphones because of their cachet, aggressive pricing, and focus on cutting-edge security.

But it didn’t take long for things to go south. A massive shift in user preference toward flashier devices from Apple, as well as Google-powered Android phones, dealt BlackBerry a major blow. The Canadian company was at fault for not moving quickly enough to capitalize on the market’s move toward touchscreen phones.

In short, BlackBerry thought that its loyal customer base would keep buying what it offered, so it didn’t feel a pressing need to innovate. That proved to be its undoing, and in an ironic twist, Apple now seems to be going down the same path.

The problem at Apple

Apple has built a huge user base. Nearly a year ago, Apple announced 1.3 billion active devices around the world, including iPhones, Macs, and other Apple devices. Some estimates put the number of iPhones at 1 billion. That might look like a solid catalyst for iPhone growth as those users looking to upgrade their devices, but for but that might not be the case.

One estimate says the installed base of new iPhones increased just 6% annually over the past two year years. For comparison, the installed base of used iPhones has increased at a 61% compound annual growth rate over the past two years, according to that estimate. So consumers are clearly looking for value in Apple’s smartphone ecosystem and have been willing to forgo new devices.

Apple has kept increasing prices of its new devices in a bid to keep up top-line momentum, but this strategy might backfire as users will continue holding their iPhones for longer periods.

Moreover, premium iPhone pricing will turn off some people who might have jumped to Apple if the price were less. If someone wants to buy a premium device and seeks value at the same time, there are many options besides Apple.

Huawei, for instance, is looking to push the envelope in the premium smartphone space by packing its devices with advanced features that aren’t yet available from Apple. The Chinese smartphone giant’s strategy of pricing its devices aggressively versus the latest iPhones has reaped rich rewards, leading to solid growth in unit sales and market share.

On the other hand, Apple’s strategy of adding incremental features and selling its iPhones at a premium price has led to stagnant unit sales. iPhone unit sales were roughly 47 million in the fourth quarter; flat with the previous year. The company has decided to stop releasing unit sales info in its quarterly reports.

BlackBerry was facing the same stagnation years ago. It focused only on incremental evolution in hardware and software, so users eventually moved on. That was despite the company’s long-established brand equity in the corporate world and a global base of over 75 million users over a decade ago, just as the smartphone revolution was beginning.

BlackBerry’s strategy eventually cost it the smartphone kingdom despite its early domination, and some may worry that Apple is now slipping down the smartphone ranks with a similar strategy.

The difference

In spite of the ominous signs, Apple’s still a long way from becoming the next BlackBerry for a couple of reasons.

First, the company has built a solid services business. It got nearly $10 billion in revenue from its services business in the last reported quarter, an increase of 17% over the prior-year period. The services business now accounts for nearly 16% of the company’s total revenue, and it should keep growing quickly thanks to Apple’s massive installed base.

Second, it isn’t just a one-product company like Research In Motion was. Cupertino’s product portfolio includes tablets, computers, and fast-growing consumer devices like smartwatches and smart speakers. BlackBerry, by contrast, was highly dependent on its smartphones; its failure to diversify into the tablet market ended a potential turnaround.

This doesn’t mean that Apple cannot go the way of BlackBerry — it still depends on smartphones for most of its revenue. The iPhone produced almost 59% of company revenue last quarter and the iPhone will be the key to growth in the rest of the ecosystem.

For instance, a customer buying a new iPhone is more likely to buy an Apple Watch instead of some other smartwatch. Similarly, an iPhone user will be more likely to buy into Apple’s smart-home systems versus those from Amazon.com or Google. So, the iPhone will remain a key to Apple’s long-term growth, and a breakdown here could be bad news for other areas.

Things aren’t looking great right now

The latest reports suggest that iPhone growth momentum is waning. Popular Apple analyst Ming-Chi Kuo has slashed his iPhone production forecast for the first quarter of 2019 to a range of 38 million to 42 million units. That’s nearly 20% below the prior-year period’s production. Additionally, Apple’s 2019 shipments are expected to decline from 5% to 10%, with Kuo predicting that new devices later in the year won’t do much to boost sales because of a lack of any “major upgrades.”

It’s a long shot that Apple will implode anytime soon. But signs of trouble have started emerging, and Cupertino must act in time if it wants to avoid being the next BlackBerry.

SOURCE: https://brandspurng.com/2019/01/03/is-apple-at-risk-of-becoming-the-next-blackberry/

My father died the year I turned 18. I was an undergrad studying mechanical engineering at the University of Ilorin when he died. My siblings and I would have had to drop out of university if not for my industrious mom who toiled day and night to ensure that we graduated.

The tough times that followed my father's death is the reason I am passionate about financial literacy. I have seen too many kids suffer because their parents never learnt to domesticate money. Financial literacy is not just about you: it also insures your children's future.

My father's generation of Africans did not believe in things like life insurance and education saving funds. Their financial illiteracy has derailed the destiny of kids all over our continent. It would be a shame for us to repeat their errors.

The following questions cover the basic first steps of financial independence.

I will appreciate it if you would do the following:
- Grade yourself.
- Share your grade.
- Share your plans for improving those grades in 2019.

1. Emergency Funds: Have you saved the equivalent of 1-month salary in a basic savings account? - 20 Points

2. Six-Month Cover: Do you have the equivalent of 6-months living expenses in a high yield investment instrument? – 20 points

3. Debt elimination: Are you completely debt free with the exception of your house mortgage? – 20 points

4. Multiple streams: Do you have at least two income streams? – 10 points

5. Saving Plan: Do you save at least 20% of your monthly income? – 10 points

6. Will and life insurance: Do you have a will that protects your family? Do you have life insurance? - 10 points.

7. Education fund: Do you have a savings plan to ensure that your kids can have a good education even if something happens to you? - 10-points

I scored 80%. I still have some student loans that I have not fully paid off. I plan to pay it off in Q1 2019 so that I can improve to 100%.

Written by: Dr Tayo Oyedeji, Professor, Entrepreneur & Business Leader with expertise in #Marketing and #Technology. I teach #FinancialLiteracy & live to help people.

SOURCE: https://brandspurng.com/2019/01/01/the-big-7-the-most-important-questions-to-answer-about-your-finance-before-2019/

The growing interest and need for data on Nigeria, in recent times, has resulted mainly from concerns on the part of policymakers, investors, businesses and citizens regarding the socio-economic conditions that face the Nigerian population. As the coordinator of the National Statistical System (NSS) and authoritative source of official statistics in Nigeria, the National Bureau of Statistics (NBS) has the statutory mandate of meeting this demand by providing accurate, timely and reliable official statistics. 

The Social Statistics Report 2017, builds on similar previous efforts to assess socio-economic indicators on Nigeria by reviewing developments during the period 2014, 2015 and 2016. It has been produced to meet NBS’ specific mandate of collecting, collating, analysing and disseminating statistical information on all facets of national life, while also reflecting the coordinating role that NBS plays in its relationship with federal and state ministries, departments or agencies (MDAs).

The Report, comprising of Part I: Summary Report and Part II: Statistical Appendix, is a compilation of data on the contemporary socio-economic situation in Nigeria. While it does not cover every single topic or sector, or represent the totality of available social statistics, it does present a variety of pertinent social and economic statistics and is indicative of what is available within the Bureau’s data systems, both online and in print. Data for this publication was mainly generated from administrative sources, routinely collected from Federal Ministries, Departments and Agencies.

In terms of structure, this summary report has been divided into sixteen chapters covering agriculture, civil service, communication, culture & tourism, education, elections, energy & environment, public finance, health, judiciary, labour, petroleum, security, transport and youth. I wish to acknowledge the support of the Planning, Research and Statistics Department of relevant MDAs in supplying data for the compilation of this report. While there are on-going efforts to further streamline the administrative data collection process, it is our expectation that more sectors will be covered in the future, and MDAs that have pending data submissions will be able to make necessary updates by the next reporting cycle.

I am confident that this publication, together with the statistical appendix, will go a long way in meeting the needs of policymakers, researchers, students, social advocates and other relevant stakeholders to formulate policies and strategies as well as track changes on various dimensions of socio-economic conditions in Nigeria. It is, therefore, my pleasure to present this edition of Social Statistics Report 2017 to the various users. We welcome any suggestions and contributions that will help in improving future compilations.

SOURCE: https://brandspurng.com/2019/01/01/nbs-publishes-social-statistics-report-for-2017/

The National Bureau of Statistics (NBS) has disclosed that revenue generated from Value Added Tax (VAT), increased by 2.54 per cent in the third quarter, Q3’18 to N273.5 billion.

The NBS announced the figure in a sectoral distribution of value-added tax report for third quarter, 2018 posted on its website.

Specifically, the NBS stated that the sectoral distribution of Value Added Tax (VAT) data for Q2 and Q3 2018 reflected that the sum of N273.50bn was generated as VAT in Q3 2018 as against N266.73bn generated in Q2 2018 and N269.79bn in Q1 2018 representing 2.54% Increase Quarter-on-Quarter and 9.16% increase Year-on-Year.

VAT is a tax on the amount by which the value of an article has been increased at each stage of its production or distribution.

The bureau  also stated that other manufacturing generated the highest amount of VAT with N31.48bn generated and closely followed by Professional Services and Commercial and Trading both generating N25.57bn and N15.99bn respectively while Mining generated the least and closely followed by Pharmaceutical, Soaps & Toiletries and Textile and Automobiles & Assemblies with N52.70 mln, N177.34 mln and N265.35 mln generated respectively.

NBS said out of the total amount generated in Q3 2018, N128.62bn was generated as Non-Import VAT locally while N58.84bn was generated as Non-Import VAT for foreign. The balance of N86.04bn was generated as NCS-Import VAT.

SOURCE: https://brandspurng.com/2019/01/01/nigeria-value-added-tax-rises-to-n273-5bn-in-q3-nbs/