₦airaland Forum

skywalker240:
I looked at the chart and then I cleaned my eyes again and looked very very vividly.



I thought there is a great cheap and affordable some of our sophisticated brethrens were hyping



chai I no call names oo before some people enter me with rage mode.

How they keep saying cheap and affordable,


Vs


How the Chart sidelined them

LMAO

According to the latest research from Strategy Analytics, Samsung Galaxy A51 was the world’s bestselling Android smartphone model in the first quarter of 2020, with 6 million units shipped globally, capturing a market share of 2 per cent.

Xiaomi Redmi 8 is the second most popular Android smartphone worldwide.

The Android smartphone market is increasingly dominated by more affordable models.

Linda Sui, Director at Strategy Analytics, said, “Global smartphone shipments reached a total of 275 million units in Q1 2020. The Android segment accounted for a dominant 86 percent share of all smartphones shipped worldwide in the quarter. The vast majority of smartphones sold globally today are Android models.”

Neil Mawston, Executive Director at Strategy Analytics, added, “Among the Android segment, Samsung took 4 of the top 6 positions worldwide in Q1 2020, while Xiaomi grabbed two. Samsung Galaxy A51 (4G) is the world’s number one bestselling Android smartphone model and accounted for a healthy 2.3 percent share of all smartphones shipped globally in the quarter. Samsung’s A51 smartphone is popular in all regions, particularly across Europe and Asia. Xiaomi Redmi 8 is the world’s second most popular Android smartphone model, taking 1.9 percent market share in Q1 2020. Xiaomi’s Redmi smartphone range is selling very well in India and China and increasingly across Europe. Samsung’s Galaxy S20+ held the third position with 1.7 percent share, the only super-premium model appearing in our top-six ranking.”

Juha Winter, Associate Director at Strategy Analytics, added, “As mobile operators have reduced subsidies in recent years, and many countries are now tumbling into post-virus recession, smartphone consumers globally are becoming increasingly price-sensitive and they are seeking out new Android models that deliver the biggest bang for their buck. Samsung Galaxy A10s, Xiaomi Redmi Note 8, and Samsung Galaxy A20s round out the fourth, fifth and sixth most popular Android smartphone models worldwide, and a further sign that many consumers want value-for-money devices with good-enough specs at affordable prices. Android is entering a post-premium era.”

SOURCE: https://brandspurng.com/2020/05/13/samsung-galaxy-a51-is-worlds-bestselling-android-smartphone-model-in-q1-2020/

One of the 80 Almajiris deported by Nasarawa State government to Taraba state last week has tested positive to COVID-19.

This is even as the State task-force committee on COVID-19 has said six patients who have tested negative twice have been discharged from the isolation centres in Jalingo, the state capital.

The Honourable Commissioner of Communications and Re-Orientation, Barr. Danjuma Adamu.

Commissioner for Information and Re-Orientation, Barr. Danjuma disclosed this while briefing journalists in Jalingo.

Adamu said the state initially rejected the Almajiri’s sent to the state by the Nasarawa state government but decided to receive the Amajiris and quarantined them.

“WE TOOK SAMPLES OF ALL THE 80 ALMAJIRIS AND SENT TO ABUJA FOR TESTING AND ONE OF THE SAMPLES TESTED POSITIVE, WHILE THE RESULT OF THE REMAINING IS STILL BEING AWAITED.

“WE HAVE ANOTHER POSITIVE CASE FROM WUKARI LOCAL GOVERNMENT AND EFFORTS ARE BEING MADE TO BRING THE PATIENT TO JALINGO.

“THE GOOD NEWS HOWEVER IS THAT SIX OF THE PATIENTS BEING TREATED IN OUR ISOLATION CENTRE HAVE TESTED NEGATIVE TWICE AND HAVE BEEN DISCHARGED,” HE SAID.

SOURCE: https://brandspurng.com/2020/05/13/taraba-state-one-almajiri-deported-from-nasarawa-tests-positive-to-covid-19-commissioner/

Xiaomi has unveiled its latest 'flagship killer' under the Poco brand. POCO, the beloved smartphone product brand launched its latest device: POCO F2 Pro. Tailored to tech enthusiasts, the device prioritizes performance over frills – without the traditional flagship price tag.

With the Snapdragon™ 865 Mobile Platform under the hood, POCO F2 Pro offers sustained peak performance, extremely fast processing speeds, and a true full-screen viewing experience that’ll have techies waving goodbye to their current daily driver.

Powerfully cool with Qualcomm® Snapdragon™ 865 and LiquidCool Technology 2.0

POCO F2 Pro takes the mobile experience to the next level with Qualcomm® Snapdragon™ 865: the most powerful 5G processor on the market. Paired with a Kryo™ 585 octa-core chip processor and Adreno™ 650 GPU, both offer 25% improved performance over their predecessor, delivering the ultimate performance with constantly connected users in mind.

With LiquidCool Technology 2.0, POCO F2 Pro sports the largest vapor chamber available on the market, along with multiple stacks of graphite and graphene. This solution keeps the device cool, especially the SoC and the surface of the phone, and sustains peak performance even under heavy activity loads.

Sophistication meets vibrancy with a sleek design and 6.67” AMOLED ultimate Full Screen Display

POCO F2 Pro touts a variety of favorite features, including an optical in-screen fingerprint sensor and Corning®️ Gorilla®️ Glass 5 on the front and back for sturdy protection. The device is offered in radiant colors and styles to suit every personality, including grey, purple, blue, and white – sporting an anti-glare matte finish in the purple and grey variants.

With a contrast ratio of 5000000:1 and a brightness of 500 nits (typ) / 800 nits (HBM), the device brings display quality to the forefront. No matter the time of day, users can count on a comfortable viewing experience through POCO F2 Pro’s bright 6.67” AMOLED ultimate Full Screen Display, featuring a 360° triple ambient light sensor to deliver accurate ambient light detection and smooth brightness adjustment.

Photography reigns supreme with 64MP quad rear camera and 20MP pop-up camera 

Touting an impressive 64MP rear quad camera set up, POCO F2 Pro’s Sony IMX686 sensor captures clear, detailed images, while its 13MP 123° ultra-wide-angle lens lets users take effortlessly gorgeous landscapes and large group photos. A 5MP macro and 2MP depth sensor round out the rear camera for detailed close-ups with unparalleled bokeh, allowing for beautiful images every time.

With ultra-high definition video recording at 8K (24fps) and 4K (60fps), POCO F2 Pro turns any user into a cinematographer. The Pro mode for both photo and video offers more control over focus and exposure, so users can capture higher quality images without the use of a DSLR or other professional cameras.

On the front, POCO F2 Pro sports a massive 20MP pop-up camera with a multicolor notification light, helping minimize front screen bezels without compromising camera quality. The selfie camera also sports 120fps slow-motion video recording capability to turn even basic videos into cinematic masterpieces.

Accelerated performance shines with high-capacity 4,700mAh (typ) battery and swift 9.6Gbps connectivity speeds

Enabling a reliable extended user experience, POCO F2 Pro packs a mighty punch with its massive 4,700mAh battery, surpassing the average user’s power needs even during heavy usage. The device also sports a swift 30W fast charge, which can fuel the device to 64% in just 30 minutes and 100% in 63 minutes2. In addition to superb charging speed, POCO F2 Pro also comes with a 33W in-box charger which provides a convenient power-up experience for users constantly on the go.

With the support of WiFi 6, POCO F2 Pro provides a hyper-fast connectivity experience with speeds of 9.6Gbps, nearly three times as fast as WiFi 5. Additionally, the device integrates a multi-link connection allowing for stable and peak network connections at all times across 2.4G Wi-Fi, 5G Wi-Fi, and mobile data.

SOURCE: https://brandspurng.com/2020/05/13/xiaomi-unveils-new-flagship-killer-poco-f2-pro-photos/

As the class of 2020 enters one of the most difficult economic climates in recent history, Autotrader lists the Hyundai Kona among the 10 Best Cars for Recent College Graduates who are considering practicality and affordability when it comes to their car purchase.

The Kona, with its 1.6L Turbo GDI engine, combines exceptional driving performance with class-leading safety and advanced technology. Starting at just under $20,000, Kona is recognized by Autotrader editors for its “head-turning style and an equally attractive price tag. Tech-savvy college grads will appreciate the excellent UVO infotainment system with comes standard with Android Auto, Apple CarPlay, and a USB port.”

“We angled our list toward those cars that have a low price but still offer style and fun,” said Brian Moody, executive editor for Autotrader. “The Hyundai Kona highlights that spirit perfectly. The Kona is one of those things in life that looks more expensive than its actual price.”

“As new graduates plan for the future, having a hefty car payment is not something that should weigh them down,” said Scott Margason, director, Product Planning, Hyundai Motor North America. “The Hyundai Kona is a perfect choice – starting well below others in the subcompact SUV segment, Kona offers value while not sacrificing on the style, utility, technology convenience and safety features these young adults still need.”

SOURCE: https://brandspurng.com/2020/05/12/autotrader-names-hyundai-kona-a-best-car-for-graduates/

The 2019 consumption expenditure report published by the National Bureau of Statistics (NBS), revealed that non-food consumption makes up 43% of total spending. Transportation, health and education were the leading categories - each making up 6% of total expenditure.

Nigerians’ spending on food rose to N22.78 trillion in 2019, up from the N12.77 trillion recorded in 2010 when the survey was last conducted.

The states with the highest consumption levels were Lagos, Oyo and Delta. In Lagos, non-food expenditure was the highest at 62%, compared with 48% in 2010.

Transportation (10.5%), rent (8%) and telecoms (7.5%) made up the highest non-food consumption components in the megacity.

Households spent N2.59tn on transport; N2.46tn on health; N2.43tn on education; N2.22tn on services including telecoms and N2.12tn on rent.

Clothing, household goods, entertainment and water gulped N1.82tn, N1.14tn, N428.22bn and N192.60bn respectively, the report showed.

It said the total household expenditure on food and non-food for 2019 was N40.21tn, compared to N21.62tn in 2009/2010.

“Of this total, 56.65 per cent (60.2 per cent in 2009/10) of total household expenditure in 2019 was spent on food with the balance of about 43.35 per cent (39.8 per cent in 2009/10) spent on non-food items,” the bureau said.

According to the NBS, foods consumed outside the home, followed by transportation costs and starchy roots, tubers and plantains were responsible for the largest proportion of household expenditure, representing a combined 24.16 per cent of total household expenditure in 2019.

It said various foods consumed outside the home, starchy roots, tubers and plantains, rice, vegetables, fish and seafood, grains and flours were the top food items households spent on in 2019.

They accounted for a combined 59.19 per cent of food expenditure and 33.53 per cent of total household expenditure on food and 24.8 per cent of total household expenditure, according to the NBS.

It said expenditure on non-food items was mostly on transport, health, education and services (which includes information technology and communication equipment, insurance and financial services), rent and fuel and light, which accounted for 79.40 per cent of the non-food expenditure.

Analysis of the report showed that food consumed outside homes, transport fares, starchy roots, tubers and plantains were responsible for the largest proportion of household expenditures, representing a combined 24.16 per cent of total household expenditure in 2019.

The state-by-state analysis showed that Lagos accounted for the largest share of the consumption expenditure at N5.07 trillion.

SOURCE: https://brandspurng.com/2020/05/11/nigerians-spent-over-%e2%82%a622-7-trillion-on-food-in-2019-nbs/

The COVID-19 pandemic, which necessitated lockdowns and restriction of movement in most parts of the world, including Nigeria, has forced the closure of many offices and businesses including bars and restaurants. The continued closure of the bars and restaurants, particularly in Nigeria, poses a risk to the continuity of these businesses which can affect our economy negatively as they are a part of the micro, small and medium enterprises that contribute to economic growth.

Worried by this possibility, Budweiser, a brand from the stables of IBPlc., has launched a unique initiative, termed ‘Naija Bar Rescue’ to help sustain these bars during and after the pandemic, and also provide a platform for consumers to support their favourite bars.

Through the initiative, Budweiser aims at ensuring that bars and pubs remain financially strong and are able to quickly resume full operations as soon as the lockdown is fully lifted, and is co-opting loyal consumers, who are also willing to see their favourite relaxation joints remain in business, into a scheme that has rightly been described as 'first-of-its-kind' in the country.

The programme encourages loyal consumers to buy gift cards online from their favourite bars via the website: www.naijabarrescue.com  for consumption on-premise at the end of the lockdown. This will not only make liquidity available to the bars during the lockdown but also assure the bar owners of the future of their businesses.

Beyond providing the idea, the technical platform and the administrative structure on which the scheme runs, Budweiser has made the commitment to match-up, one-to-one, whatever amount the consumer is spending on his or her gift card, and make the money available to the participating bars within 2 weeks. This means the bars actually get double the value of the gift card the consumer is buying, with Budweiser contributing exactly the same amount as the consumer is paying, as its own contribution to the sustenance of the bar in particular and the beer retail trade, in general.

The novel initiative cuts across the country as bars in various states and the FCT are registered on the platform and consumers are encouraged to recommend their favourite bars for inclusion in the scheme, where such bars are not already on the launch-out list.

Speaking on the initiative, Sandro De Assis, the Route-to-Market, Tech Sales and Trade Marketing Director of International Breweries Plc. assured Nigerian beer lovers of the company’s full commitment to the scheme and solicited their buy-in on the lofty ideal. He added that the technical platforms, as well as the administrative structure to manage the scheme, have been perfected and that the process is simple and very user-friendly. He enjoined consumers to visit www.naijabarrescue.com to start supporting their favourite bars to stay in business while COVID-19  lockdown subsists by buying the gift cards which are available in N1,500; N2,000; N4,000 and N9,000 denominations. The scheme, which has already started, will last until the lockdown in several parts of the country is fully lifted.

Also speaking on the initiative, Marketing Director, IB Plc, Tolulope Adedeji said the ‘Naija Bar Rescue’ initiative would not only help strengthen the loyalty of consumers to their favourite brands and bars but also help minimize the negative impact of the COVID-19 pandemic on the general economy of the nation.

"We hope, through the ‘Naija Bar Rescue’ project, our trade partners, I mean the bar owners, can heave a sigh of relief that the future of business for them is bright after all. This is a collective effort between us and the consumers to support the bars, pubs and restaurants. We will continue to do our best to ensure that their businesses come out stronger and better from the pandemic”, she said.

SOURCE: https://brandspurng.com/2020/05/10/budweiser-launches-naija-bar-rescue-to-support-bars-through-covid-19-lockdown/

The Covid-19 pandemic represents the biggest shock to the global energy system in more than seven decades, with the drop in demand this year set to dwarf the impact of the 2008 financial crisis and result in a record annual decline in carbon emissions of almost 8%.

A new report released today by the International Energy Agency provides an almost real-time view of the Covid-19 pandemic’s extraordinary impact across all major fuels. Based on an analysis of more than 100 days of real data so far this year, the IEA’s Global Energy Review includes estimates for how energy consumption and carbon dioxide (CO2) emissions trends are likely to evolve over the rest of 2020.

“This is a historic shock to the entire energy world. Amid today’s unparalleled health and economic crises, the plunge in demand for nearly all major fuels is staggering, especially for coal, oil and gas. Only renewables are holding up during the previously unheard-of slump in electricity use,” said Dr Fatih Birol, the IEA Executive Director. “It is still too early to determine the longer-term impacts, but the energy industry that emerges from this crisis will be significantly different from the one that came before.”

The Global Energy Review’s projections of energy demand and energy-related emissions for 2020 are based on assumptions that the lockdowns implemented around the world in response to the pandemic are progressively eased in most countries in the coming months, accompanied by a gradual economic recovery.

The report projects that energy demand will fall 6% in 2020 – seven times the decline after the 2008 global financial crisis. In absolute terms, the decline is unprecedented – the equivalent of losing the entire energy demand of India, the world’s third-largest energy consumer. Advanced economies are expected to see the biggest declines, with demand set to fall by 9% in the United States and by 11% in the European Union. The impact of the crisis on energy demand is heavily dependent on the duration and stringency of measures to curb the spread of the virus. For instance, the IEA found that each month of worldwide lockdown at the levels seen in early April reduces annual global energy demand by about 1.5%.

Changes to electricity use during lockdowns have resulted in significant declines in overall electricity demand, with consumption levels and patterns on weekdays looking like those of a pre-crisis Sunday. Full lockdowns have pushed down electricity demand by 20% or more, with lesser impacts from partial lockdowns. Electricity demand is set to decline by 5% in 2020, the largest drop since the Great Depression in the 1930s.

At the same time, lockdown measures are driving a major shift towards low-carbon sources of electricity including wind, solar PV, hydropower and nuclear. After overtaking coal for the first time ever in 2019, low-carbon sources are set to extend their lead this year to reach 40% of global electricity generation – 6 percentage points ahead of coal. Electricity generation from wind and solar PV continues to increase in 2020, lifted by new projects that were completed in 2019 and early 2020.

This trend is affecting the demand for electricity from coal and natural gas, which are finding themselves increasingly squeezed between low overall power demand and increasing output from renewables. As a result, the combined share of gas and coal in the global power mix is set to drop by 3 percentage points in 2020 to a level not seen since 2001.

Coal is particularly hard hit, with global demand projected to fall by 8% in 2020, the largest decline since the Second World War. Following its 2018 peak, coal-fired power generation is set to fall by more than 10% this year.

After 10 years of uninterrupted growth, natural gas demand is on track to decline by 5% in 2020. This would be the largest recorded year-on-year drop in consumption since natural gas demand developed at scale during the second half of the 20th century. The massive impact of the crisis on oil demand has already been covered in detail in our April Oil Market Report.

Renewables are set to be the only energy source that will grow in 2020, with their share of global electricity generation projected to jump thanks to their priority access to grids and low operating costs. Despite supply chain disruptions that have paused or delayed deployment in several key regions this year, solar PV and wind are on track to help lift renewable electricity generation by 5% in 2020, aided by higher output from hydropower.

“This crisis has underlined the deep reliance of modern societies on reliable electricity supplies for supporting healthcare systems, businesses and the basic amenities of daily life,” said Dr Birol. “But nobody should take any of this for granted – greater investments and smarter policies are needed to keep electricity supplies secure.”

Despite the resilience of renewables in electricity generation in 2020, their growth is set to be lower than in previous years. Nuclear power, another major source of low-carbon electricity, is on track to drop by 3% this year from the all-time high it reached in 2019. And renewables outside the power sector are faring less well. Global demand for biofuels is set to fall substantially in 2020 as restrictions on transport and travel reduce road transport fuel demand, including for blended fuels.

As a result of these trends – mainly the declines in coal and oil use – global energy-related CO2 emissions are set to fall by almost 8% in 2020, reaching their lowest level since 2010. This would be the largest decrease in emissions ever recorded – nearly six times larger than the previous record drop of 400 million tonnes in 2009 that resulted from the global financial crisis.

“Resulting from premature deaths and economic trauma around the world, the historic decline in global emissions is absolutely nothing to cheer,” said Dr Birol. “And if the aftermath of the 2008 financial crisis is anything to go by, we are likely to soon see a sharp rebound in emissions as economic conditions improve. But governments can learn from that experience by putting clean energy technologies – renewables, efficiency, batteries, hydrogen and carbon capture – at the heart of their plans for economic recovery. Investing in those areas can create jobs, make economies more competitive and steer the world towards a more resilient and cleaner energy future.”

SOURCE: https://brandspurng.com/2020/05/10/covid-19-crisis-will-wipe-out-demand-for-fossil-fuels-iea/

The German Bundesliga is set to resume on the 16th of May, after being given the green light to continue fixtures by the government.

The German government gave permission for the top two tiers, which have been suspended since March due to the coronavirus pandemic, to resume behind closed doors in the second half of May.

Having reviewed a safety plan put forward by the leagues, Angela Merkel told the press: “Matches are allowed to be played under the approved rules.”

Following the conclusion of Wednesday’s meeting, the German government released the following statement: “The Federal Chancellor and the heads of government of the federal states consider the continuation of play in the 1st and 2nd Bundesliga to be justifiable for the 36 clubs eligible to start there at their expense from the second half of May.”

There are nine full rounds of fixtures remaining in the Bundesliga, while Eintracht Frankfurt and Werder Bremen will meet in their game in hand. The final matchday is scheduled for the weekend of June 27-28.

SOURCE: https://brandspurng.com/2020/05/10/german-bundesliga-to-resume-on-may-16/

More...

Governor Hope Uzodimma of Imo State on Wednesday said the state’s palm oil-producing industry, ADAPALM, could employ about 35,000 people if fully revived.

The governor said this while on an inspection visit to the palm oil industry to have an on-the-spot assessment of the state of affairs in the industry.

He said the industry if revived, would help the state government in facilitating industrial growth, harmony, expansion and increased productivity.

Mr Uzodinma said he was happy that production had resumed once again at ADAPALM and that 120 tonnes of Grade A palm oil was being produced daily.

He said that placing ADAPALM in its rightful place would boost the Internally Generated Revenue of the state.

He said the company was a value chain that could produce not only palm oil but also other oil-related products like margarine, sheer butter and palm kernel oil, among others.

The governor said: “We are committed to bringing ADAPALM back to the stream. It’s one of our greatest hopes of surviving the post-COVID-19 era.

“The economy is almost becoming epileptic. We have to look inward to see how best we can restructure our economy, boost Internally Generated Revenue (IGR) and then ensure that our citizenry is also busy.”

SOURCE: https://brandspurng.com/2020/05/09/imo-state-government-moves-to-revive-adapalm-plantation-photos/

The Federal Government has waived the licence fees of terrestrial broadcast stations for two months, as part of its measures to help the industry during the pandemic. Terrestrial stations affected include Galaxy, AIT, TVC, MITV, Silverbird TV, NTA, which are all free-to-air channels for consumers. Licence fees cost as much as ₦3 million a year to broadcast.

The Minister of Information and Culture, Alhaji Lai Mohammed, (middle); Special Assistant to the President in the Minister’s Office, Mr. Segun Adeyemi (left) and the Acting-Director General of the National Broadcasting Commission, Prof. Armstrong Idachaba, at a meeting with the Broadcasting Organisations of Nigeria in Abuja on Wednesday.

The Minister, who stated this at a meeting with the Broadcasting Organisations of Nigeria (BON) in Abuja on Wednesday, also announced the setting up of a committee of Creative Industry stakeholders to look into and advise the Federal Government on the best way to mitigate the effect of the pandemic on the industry.

“Before I announce the terms of reference of the committee, let me say that in the interim, I want to announce that I have approved the request by the National Broadcasting Commission (NBC) to grant a two-month licence-fee waiver for terrestrial broadcast stations in Nigeria.

“I make bold to say that while BON members have been hit hard by the current pandemic, they are not alone. In fact, the entire Creative Industry, which also covers the Broadcast Industry, has been affected by the pandemic that has inflicted extensive damage on the economy of nations across the world,” he said.

Alhaji Mohammed stressed the need for a collective and government-supported approach in dealing with the immediate, short and long term palliatives and initiatives for the industry, in order to mitigate the effect of the pandemic on the Industry.

“We have therefore decided that instead of addressing this problem piecemeal, we should do so holistically for a more positive outcome,” he said, noting that the Creative Industry is a very critical sector of the nation’s economy and a major plank of the economic diversification policy of this Administration, in addition to creating the highest number of jobs after Agriculture.

The Minister said the terms of reference of the committee include to assess the expected impact of the pandemic on the industry in general and advise the Government on how to mitigate job and revenue losses in the sector as well as to create succour for the industry small businesses.

The committee is also to suggest the type of taxation and financing that is best for the industry at this time to encourage growth and also advise the Government on any other measure or measures that can be undertaken to support the industry.

The committee has Ali Baba, a renowned Comedian, as Chairman while Anita Eboigbe of the News Agency of Nigeria will serve as Secretary.

Other members of the Committee include Bolanle Austen Peters, Charles Novia, Segun Arinze, Ali Jita, Baba Agba, Kene Okwuosa, Efe Omoregbe, Prince Daniel Aboki, Chioma Ude, Olumade Adesemowo, Dare Art Alade and Hajia Sa’a Ibrahim.

Representatives of the Fashion, Publishing, Photography as well as Hospitality and Travel sectors are also to be included in the committee, which has four weeks to submit its report.

In her remarks, the Chairperson of BON, Hajia Sa’a Ibrahim, who was represented by Sir Godfrey Ohuabunwa, called for urgent mitigating measures for broadcast stations in the country which, she said, have all suffered huge revenue losses due to the pandemic.

She disclosed that privately-owned broadcast stations have contributed over N2 billion worth of airtime, free of charge, for public sensitization and awareness campaign for the containment of the disease in Nigeria as part of their Corporate Social Responsibility.

SOURCE: https://brandspurng.com/2020/05/08/two-month-licence-fee-waived-for-terrestrial-broadcast-stations-in-nigeria/

- The move will potentially slash the cost of e-books and newspapers making reading more accessible as people stay at home
Newspapers to receive up to £35 million additional government advertising revenue as part of a coronavirus communications campaign

- Plans to scrap VAT on e-books and e-newspapers have been significantly fast-tracked in a boost to readers and publishers during the coronavirus outbreak, the Chancellor announced today.

Rishi Sunak said the zero rates of VAT will now apply to all e-publications from tomorrow (1 May 2020) - seven months ahead of schedule – potentially slashing the cost of a £12 e-book by £2 and e-newspapers subscriptions by up to £25 a year.

In support of the print newspaper industry, the government has also announced it will be spending up to £35 million on newspaper advertising over the next 3 months as part of its Covid-19 communications campaign to ensure the whole UK is aware of the latest government guidance and advice.

Chancellor of the Exchequer Rishi Sunak said:

WE WANT TO MAKE IT AS EASY AS POSSIBLE FOR PEOPLE ACROSS THE UK TO GET HOLD OF THE BOOKS THEY WANT WHILST THEY ARE STAYING AT HOME AND SAVING LIVES.

THAT IS WHY WE HAVE FAST TRACKED PLANS TO SCRAP VAT ON ALL E-PUBLICATIONS, WHICH WILL MAKE IT CHEAPER FOR PUBLISHERS TO SELL THEIR BOOKS, MAGAZINES AND NEWSPAPERS.

With the nation staying in their homes during lockdown and schools closed, millions have been relying more on e-publications to pass time, home school and read the news. The Chancellor has opted to bring the zero-rating forward to make entertainment more affordable for readers who are rightly staying at home during the coronavirus crisis – and are more reliant on e-publications as a result.

The price of an e-book will now be VAT-free. The e-book of Hilary Mantel’s The Mirror and The Light could be over £2 cheaper while the average tax annual saving on a typical e-newspaper or e-magazine subscription could be £25 or £20 respectively.

The move will be a boost both to readers in the form of cheaper e-books and e-newspapers, and the publishing industry who should benefit from a boost in sales.

Culture Secretary Oliver Dowden said:

THIS TAX RELIEF ON SUBSCRIPTIONS TO DIGITAL PUBLICATIONS WILL BOOST OUR WORLD-CLASS PUBLISHERS, SAVE CONSUMERS MONEY AND REFLECTS THE SURGE IN POPULARITY OF E-READING AS WE STAY AT HOME TO PROTECT THE NHS.

I HOPE TO SEE IT BENEFITTING THE NEWS INDUSTRY THROUGH INCREASED SALES OF E-NEWSPAPERS AS THEY CONTINUE TO PROVIDE A VITAL PUBLIC SERVICE GIVING PEOPLE ACCURATE AND TRUSTED INFORMATION ABOUT CORONAVIRUS.

On average publishers are reporting an increase of about a third in e-book consumption during the crisis, with some publishers reporting as much as a 50% increase. In the last seven days alone, subscriptions to TI media are up 200%, whilst Hearst’s new subscribers were up more than 100% year-on-year across the second half of March.

The £35 million extra advertising revenue will be split between local, regional and national print media, and will be a vital boost to the media industry. These plans will be constantly reviewed over the next three months to ensure the campaign is as effective as possible. Both the e-publications measure and the increased advertising spending are UK-wide.

SOURCE: https://brandspurng.com/2020/05/07/uk-scraps-vat-on-online-publishing-to-boost-lockdown-readership/

Recently, the National Bureau of Statistics (NBS) published Nigeria’s Poverty and Inequality report for 2018-19. According to the report, 40.1% of the total population in Nigeria (excluding Borno state, whose survey was considered non-representative) live below the national poverty line of N137,430/year (less than $1/day).

This translates to about 82.9million poor Nigerians.

Specifically, the report showed that the poverty rate by national standards is more pronounced in the rural area at 52.1% while the poverty rate stood at 18.04% in the urban area.

Looking ahead, national poverty outlook in 2020 is grim. Certainly, with the outbreak of the coronavirus, which has devastated many economies around the world, especially oil exporters such as Nigeria, the incidence of poverty will worsen in 2020.

Many households at the bottom of the national pyramid will be further pressured as the devastating impact of the crude oil price crash, and further currency adjustment worsens general price level, amid job losses.

To better the lots of the 82 million Nigerians below the $1 per day classification and reduce the poverty rate in the country over the long run, government efforts must be focused on investment in healthcare, education and expanding economic opportunities for Nigerians via huge investment in infrastructure, technology, agriculture and other far-reaching economic policies.

SOURCE: https://brandspurng.com/2020/05/07/poverty-and-inequality-what-is-the-outlook/

…Says Clubs, Bars, Hotels Remain Closed

As the COVID-19 pandemic continues to hit the tourism sector with its attendant effects on the operators, the Lagos State Government has issued fresh guidelines on the operations of Restaurants and Eateries.

These new set of guidelines, according to the Special Adviser to the Governor on Tourism, Arts and Culture, Mr. Solomon Bonu, are designed to provide a basic summary of recommended practices that can be used to mitigate exposure to Coronavirus and return to full operations safely.

He reiterated that the directive of Governor Babajide Sanwo-Olu on the operation of Eateries and Restaurants between 9 a.m and 7 p.m daily due to Ramadan subsists, stressing that their operations are restricted to take-away packs and orders only.

Bonu asserted that the State Government understands the challenges confronting the sector at this crucial period but has decided to make restaurants and Eateries operate under very strict conditions for safety, cleanliness and overall quality services to their customers, assuring that there will be close monitoring by the Ministry of Tourism, Arts and Culture.

He said that the Ministry has set up a Task Force to monitor, arrest and prosecute erring facilities for non-compliance, saying that comprehensive guidelines will be issued and made available to the operators.

While maintaining that hotels, bars and clubs remain shut until the State Government decides otherwise, Bonu revealed that as part of the new guidelines, employees of Restaurants and Eateries are now required to wear face coverings and gloves at all times, adding that such coverings must be cleaned or replaced daily.

The Special Adviser also pointed out that temperature checks must be conducted on all employees and customers, being one of the critical means of identifying sick and suspected cases of the COVID-19, warning that any operator who failed to adhere to the directive will be sanctioned.

Highlighting the sanitation procedures expected at these facilities, the Special Adviser called for adherence to all written safety, sanitisation and physical distancing protocols (specific to COVID-19) on the business premises as it affects their customers, workers and the operating environment, calling on employers to provide hand-washing equipment or sanitisers at customer entrances and in communal spaces.

Speaking on Social Distancing and Occupancy Restrictions, Bonu said the Staff of these facilities should limit the number of customers in the Restaurants and Eateries to those that can adequately stand six feet apart, insisting that the waiting area must be marked so that social distancing standards are observed.

On other operational guidelines, the Special Adviser said businesses owners must “post a sign at their entrance stating that individuals who have fever, cough, or any sign of sickness should not enter. They should also post a description of their sanitation and social distancing measures, implement staggered shifts for all workers, and whenever possible, restaurant staff should not perform multiple roles”.

SOURCE: https://brandspurng.com/2020/05/06/covid-19-lagos-issues-guidelines-for-operators-of-restaurants-eateries/

Key Takeaways from the Citizens Dialogue Session on Government Fiscal Policy Decisions in Response to the Fall in Oil Prices and the COVID-19 Pandemic

The Ministry of Finance, Budget and National Planning and the Department for Internal Development (DFID) held a citizen’s dialogue session (earlier today) on Nigeria’s response to the fall in oil prices and the COVID-19 pandemic.

The panel was led by the Minister for Finance, Budget and National Planning, Mrs. Zainab Ahamed, who was ably supported by Prince Clem Agba (Minister of State, Budget and National Planning), Mr. Ben Akabueze (DG Budget Office of the Federation), and Lade Jaiyeola (CEO, Nigeria Economic Summit Group).

A.     Below are some takeaways from the representatives of government

1.   The government expects GDP to contract by 3.5% YoY in 2020
2.   Oil earnings are now projected to decline by 90.0% in 2020
3.   Estimated net oil & gas revenue available for Federation Account Allocation Committee (FAAC) distribution is now forecasted 80.0% lower at N1.1 trillion (vs. N5.5 trillion previously), despite a N649 billion reduction in allowable fiscal deductions by NNPC for federally funded projects/expenditures.

Specifically, projected PMS under-recovery has been reduced from N457 billion to zero.

- Oil production now projected at 1.7mbpd (vs. 2.18mbpd previously)
- Oil prices expected to average $20 per barrel (vs. budget benchmark of $57 per barrel)
- Average production cost of Nigerian crude has been revised downward to $28 per barrel from $33 per barrel (with implications for Petroleum Profit Tax
- A severe outbreak of COVID-19 in Nigeria could magnify the impact of low oil price and weaker domestic crude production

4. Customs revenue is now projected at N1.2 trillion in 2020 (vs. N1.5 trillion previously)


5. Amount accruable to VAT pool account now forecasted at N2.0 trillion in 2020 (vs. N2.1 trillion previously)


6. Amount accruable to federation account now projected at N3.9 trillion (vs. N8.6 trillion previously)


7. Projected federal government receipt from the federation account for 2020 is now put at N2.4 trillion (compared to N4.8 trillion previously)


8. States and local governments are now likely to obtain N2.1 trillion and N1.5 trillion, apiece, from FAAC (compared to N3.3 trillion and N2.5 trillion, respectively, in previous estimates)


9. Projected N5.6 trillion budget deficit to be financed through privatization proceeds (N126 billion), drawdowns from FGN Special Accounts (c.N260 billion), bilateral/multilateral drawdowns (N387 billion), and new borrowings (N4.6 trillion)


10. Debt service pressure to be eased by significant moratoriums on new loans (IMF’s RFI of $3.4 billion comes with 3 years moratorium) and expected deferrals of current debt service obligations until macro conditions improve


11. As part of measures to alleviate the impact of COVID-19, the government has set up an Economic Sustainability Committee to, among others, assess systemic vulnerabilities and develop programs that would make the expected recession short-lived and ensure sustainable long-term growth


12. Measures are underway to strengthen agricultural value-chain with a strategic focus on land acquisition, road networks, and funding. The government also plans to offtake agro-products when market conditions are unfavourable


13. Government is looking at funding supports for the aviation sector


14. The president is likely to decide on land border closures after the current health crisis. Negotiations with neighbouring countries have been smooth


15. Although similar challenges were faced in 2016, Nigeria currently has significantly lower fiscal buffers. In view of the challenges, the government has approved the integrated policy framework recommended by the CMC and adjustments to the 2020 budget


16. The budget office is finalizing a revised 2020-2022 Medium Term Expenditure Framework and Strategy Paper (MTEF/FSP) as well as an amendment to the 2020 Appropriation act

B.  According to the Nigerian Economic Summit Group (NESG)

Nigeria needs N10.1 trillion worth of interventions but current intervention capacity stands at N4.5 trillion

The implied funding gap of N5.6 trillion is likely to be covered by
- Medium to long term domestic borrowing
 - External borrowings (possibly from World Bank, IMF, IFC, AFDB)
 - Quantitative easing

Total announced stimulation (FG, CBN, et al) currently stands at N4.5 trillion or 3.1% of GDP (vs. 10.0% of GDP in South Africa)

SOURCE: https://brandspurng.com/2020/05/05/key-takeaways-from-citizens-dialogue-session-with-finance-and-budget-ministry/

Telecoms giant, Vodacom, has announced that it launched Africa’s first 5G network in three South African cities – Johannesburg, Pretoria and Cape Town on Monday. This is to help the telecoms provider manage the increase in mobile network traffic being experienced during the lockdown. Last year, MTN Nigeria commenced a 3-month 5G trial. However, the Nigerian Communications Commission has not provided a time frame for the launch of 5G in Nigeria.

Vodacom was recently assigned temporary spectrum by ICASA for the duration of the national state of disaster, including 1 x 50 MHz in the 3.5 GHz band, which has been used to fast-track our 5G launch. It also makes Vodacom the first operator to activate temporary spectrum in South Africa. Vodacom and Liquid Telecom also concluded managed network services and national roaming agreements for a national 5G network in December 2019.

As a more efficient technology than its predecessors (such as 3G and 4G), the deployment of 5G will help Vodacom manage the 40% increase in mobile network traffic and the 250% increase in fixed traffic experienced during the COVID-19 lockdown.

Shameel Joosub, Vodacom Group CEO, says: “Vodacom’s 5G launch in South Africa comes at an important time as it will help us improve our network efficiency during the COVID-19 national state of disaster. During this difficult and unprecedented period, we are proud to offer world class network technology to South Africa, and all of its associated benefits, as we provide an essential service to keep the country connected. This is largely due to the allocation of temporary spectrum by ICASA which has already mitigated the network congestion we have experienced since the start of the lockdown period.”

Vodacom announced in 2018 that it had begun modernising its network to prepare for the deployment of standards based 5G technology in South Africa, subject to the allocation of spectrum.  5G was designed to meet the growing data and connectivity requirements of modern society, as the amount of data traffic is expected to continue growing at exponential rates. Vodacom expects to expand its initial 5G rollout as more smartphones, Wi-Fi and Fixed wireless access routers become available. The current 5G network equipment deployed also operates in the same frequency bands which are expected to be permanently assigned through an auction later in the year. Existing 4G tariffs for mobile and fixed will initially apply to Vodacom’s 5G service offering, with special 5G tariffs to be announced in due course.

Customers can check if they are in a 5G coverage area on the Vodacom website (https://www.vodacom.co.za/vodacom/services/internet/5g ). They can then either sign up for a new 5G device deal or upgrade online. The new 5G device will be delivered to the customer’s home during the national lockdown period.

5G improves significantly on 4G in three key areas:

1. Faster speeds:

In comparison to 4G, peak speeds on 5G will increase significantly. 5G will enable fibre-like speeds using the mobile network. This will be extremely useful to download media content like 4K and even 8K movies in seconds. The higher speeds from 5G will also enable entirely new applications in future like augmented and Virtual Reality (VR) which will be helpful to realise new applications such as e-education and also new forms of entertainment like watching a sports game or music concert live in VR from home.

2. Lower latency & better reliability:

Latency is the time it takes for devices to send and receive signals between each other. Latency is very important for applications which require near real-time responses, for example, between the user device and a cloud server used in gaming. In comparison to 4G where latencies are typically between 20-30 milliseconds, 5G can support latencies as low as 1 millisecond.

The lower latency from 5G will also enable entirely new applications in future such as remote robotic surgery, where decisions must be made by the remote surgeon and sent back to the surgery robot in near real-time.

3. More capacity:

5G networks can also provide much more capacity for data. 5G uses spectrum in a much more efficient manner than 4G technology and is able to fit more data into the same amount of spectrum.

5G devices can connect many more “things” to the network at the same time, enabling the realisation of new applications such as smart homes and smart cities. 5G is also more efficient than 4G in terms of the energy required per bit of data which is transmitted or received.

Vodacom was the first network operator to launch a 5G commercial service in Africa in Lesotho in 2018 and was also first to bring 2G, 3G and 4G services to South Africa. The widespread rollout of 5G will support the Government’s 4IR objectives in future and will facilitate the creation of an entirely new technologically enabled world. 5G supports entirely new applications which will enable a much smarter and more convenient way of both livings, working and playing and which current 3G and 4G networks might not be able to support.

SOURCE: https://brandspurng.com/2020/05/05/vodacom-launches-5g-in-south-africa/

…Says It Will Bear Applicants’ Cost Of Survey, Planning Permission
…First 2,000 Applicants To Enjoy Discounts

Oyo State Government has launched a digitized Certificate of Occupancy issuance platform, as part of its strategy for growing the Gross Domestic Product of the State.

A release issued by the Commissioner for Lands, Housing and Urban Development, Barrister Abiodun Abdu-Raheem noted that the processing and collection of Certificate of Occupancy are now faster, easier and affordable.

While he urged all eligible property owners without title or approved documents to take advantage of the opportunity, Abiodun also revealed that Oyo State Government will ensure all landowners in the State have digitized title documents by December 2022, amidst the accelerated provision of digitized title documents.

Abdu-Raheem said “the processing and collection of Certificate of Occupancy would take only Sixty (60) days under the Oyo State Home Owners Charter (OYHOC) scheme. While Government will bear the cost of survey, planning permission, and all other relevant documents for applicants who do not have them under the OYHOC scheme”.

“Records have shown that majority of residential landed properties in Oyo State have no registered titled documents leaving such property owners open to many risks, hence the need for the C of O”, he added.

According to the Lands helmsman, all C of O’s issued under the improved OYHOC will not only be digitized, for ease of authenticity confirmation, they would also be the same legal instrument as any other C of O being issued by the Government.

He added that “Property owners can now easily use their properties as collateral for any financial transaction as well as having their documentation on the digital database of the Ministry for ease of confirmation and transfer”.

Barrister Abiodun further hinted that application forms can be obtained at the Ministry of Lands, Housing and Urban Development at the State secretariat, all Local Government Authority Offices as well as Local Council Development Authority offices (LGA &LCDAs) for only N6,000.00 (Six thousand Naira) payable using customized OYHOC recharge cards.

He also said all applicants must immediately register their application by following the instructions on the recharge card as the unique PIN on the recharge card will serve as their application number and a receipt for the application form payment.

The Commissioner pointed out that the first 2,000 applicants will enjoy a 15% discount, hence it is critical for all applicants to immediately register their application with the OYHOC recharge cards following the instructions carefully. He, however, noted that the concessionary processing fee applicable for the OYHOC scheme C of O is only available for applications received between now and 31st December 2020.

Barrister Abiodun further urged applicants to visit the website www.lands.oyostate.gov.ng. while inquiries can be made through Room 4, Ministry of Lands, Housing and Urban Development, State Secretariat, Agodi, Ibadan. Tel: 0700 696 52637 (0700 OYO LANDS) and email: lands@oyostate.gov.ng

SOURCE: https://brandspurng.com/2020/05/04/oyo-state-launches-digitized-c-of-o/

The top trending search term on Google Nigeria over the past 30 days is ‘how to make bread?’, followed by ‘who is Abba Kyari?’. The top 20 trending questions on Google Search Nigeria over the last 30 days are dominated by food and current affairs questions.

Nigeria, like many other nations, has implemented lockdowns in response to the coronavirus epidemic. Forced to stay at home, and often unable to perform their usual work, many people across the globe, including Nigerians, have turned to cook and baking as ways to pass the time – and keep themselves fed in the absence of restaurants and other vendors. Nigerians are also asking about information related to the lockdown and coronavirus, as well as more general current affairs topics.

Top ten trending questions over the past 30 days:

1. Who is Abba Kyari?
2. How to prepare hand sanitizer
3. Where is Buhari?
4. When is school resuming in Nigeria?
5. How to draw
6. Is there movement in Lagos tomorrow?
7. When is WEAC starting?
8. When is Ramadan 2020 starting?
9. Is there a cure for coronavirus?
10. How to lose weight

Top ten trending food questions over the past 30 days:

1. How to make bread
2. How to make pancakes with flour
3. How to make chinchin
4. How to make fish roll
5. How to make an egg roll?
6. How to make pizza
7. How to prepare vegetable soup
8. How to make cookies
9. How to make Akara
10. How to make Egusi soup

Search trends information is gleaned from data collated by Google based on what Nigerians have been searching for and asking Google. Google processes more than 40 000 search queries every second. This translates to more than a billion searches per day and 1.2 trillion searches per year, worldwide. Live search data is available on the Google Nigeria Trends site.

SOURCE: https://brandspurng.com/2020/05/04/food-current-affairs-dominate-google-search-nigeria/

The Honourable Commissioner for Basic and Secondary Education Taraba State, Hon. Johaness Jigem addressed the purported information going round informing principals/proprietors of both public and private schools that directives for the reopening of schools have been giving by the ministry.

The Commissioner said the ministry did not give such directives and does not intend to do so.

He called those spreading the false news as enemies of the state and urged them to desist from such acts.

“IT HAS COME TO THE NOTICE OF THE MINISTRY FOR BASIC AND SECONDARY EDUCATION TARABA STATE THAT SOME GROUP OF PERSONS ARE GOING ROUND INFORMING PRINCIPALS/PROPRIETORS OF BOTH PUBLIC AND PRIVATE SCHOOLS THAT DIRECTIVES FOR THE REOPENING OF SCHOOLS HAS BEEN GIVING BY THE MINISTRY.

“WE WANT TO QUICKLY CORRECT THIS FALSE INFORMATION WHICH IS CAPABLE OF MISLEADING THE ENTIRE STATE AND CAUSING HARM TO THE POPULACE.

“THE MINISTRY DID NOT GIVE SUCH DIRECTIVES AND DOES NOT INTEND TO DO SO.

“THOSE MAKING ROUNDS WITH THIS FALSE NEWS ARE NO DOUBT ENEMIES OF THE STATE AND SHOULD AS A MATTER OF FACT DISIST FROM SUCH A ACT.

“THE MINISTRY WANTS TO WARN IN STRONG TERMS THAT NO SCHOOL IS PERMITTED TO RE-OPEN WITHOUT THE EXPRESSED PERMISSION OF THE GOVERNMENT AND ANY SCHOOL BE IT PRIVATE OR PUBLIC THAT RE-OPENS BY TOMORROW MONDAY 4TH MAY 2020 WILL BE SANCTIONED ACCORDINGLY AND THE PRINCIPLE/PROPRIETOR ARRESTED AND QUARANTINE FOR BRIDGING THE EXECUTIVE ORDERS GIVING BY THE STATE GOVERNMENT TO STAY AT HOME.

The Commissioner said that security operatives have been duly briefed to go round and arrest anyone found around the premises of any school.

Honorable Jigem call on all principals and proprietors to adhere to this strict warning and allow the gates of all Schools close for the safety and benefit of all until further notice and urged students to be more patience as they stay peacefully at home while we all wait for the end of this global threat.

SOURCE: https://brandspurng.com/2020/05/04/taraba-state-schools-remains-close-until-further-notice-commissioner/

UAC of Nigeria, along with other private sector organizations, has provided its support to the Young Presidents Organisation (YPO) in its fight against COVID-19.  The YPO has established a temporary 70-bed isolation center in Eti Osa and has handed over operations to the Lagos State government to be integrated into the statewide response to the COVID-19 pandemic.


https://www.youtube.com/watch?v=GCfBDCUzY1M

UAC, through YPO, is dedicated to ensuring the well-being of those at the front lines and has committed to providing meals and snacks for patients and healthcare workers at the facility.

Speaking on this collaboration, the Chief Executive Officer of UAC, Mr. Folasope Aiyesimoju noted that, “In these troubling and uncertain times, the bravery of those at the forefront of the pandemic cannot be over appreciated. As a community, we must come together to show our support for the sick and those who care for them. By providing meals, we are eliminating the burden of one of the most basic necessities in life. We call on other private sector participants to join in this effort and contribute whatever resources they can spare to those most in need.”

The Chairman of UAC, Mr. Daniel Agbor, commended the efforts of the YPO in the rapid establishment of the isolation center and subsequent handover to the Lagos State government stating that “The eradication of the COVID-19 disease in Nigeria requires a multifaceted effort. This collaboration between the public and private sector is the spirit in which we need to operate to effectively address this pandemic.”

A representative of YPO, Tatiana Moussalli Nouri, CEO Wazobia TV, and Wazobia Max, expressed delight with the partnership with UAC of Nigeria Plc, noting that such acts of responsible citizenship and collaborations that directly impact those most affected by the outbreak are needed to win the COVID-19 war.

SOURCE: https://brandspurng.com/2020/05/01/uac-supports-ypo-covid-19-initiative-in-establishment-of-70-bed-isolation-centre/

It's a mild drama in Ekiti State on Wednesday evening as a 'father rejects son' returning from Lagos amid fear of Coronavirus.

A father identified as Mr. Adeoye has left the public in surprise and also set the social media agog as he bluntly denied his own son from entering his house in the South-West State.

Brandnewsday gathered that Mr. Adeoye whose fear of rejecting his son was prompted by the fear of the son's current status for COVID-19. Also, he disclosed that he cannot ascertain his son COVID-19 status maybe he's negative or positive since he's returning from the Lagos, the country's coronavirus endemic state.

Therefore, the need to take the preventive measure by denying him access to the house became inevitable.

Thus, many people are wondering about the new Ekiti Wonders. Although there are several related reports whereby tenants refused to open the door for their landlords who returned from a high-risk country, among many other reported stories.

Reacting to the development, the Ekiti State Government has commended the father's sportsmanship to the state. As a result of that, he was appointed an ambassador of COVID-19 Task-Force in the state.

SOURCE: https://brandnewsday.com/2020/04/30/covid-19-ekiti-man-rejects-son-who-returns-from-lagos-see-what-the-state-government-do/

MTN Nigeria announced a profit after tax of ₦51 billion in Q1 2020 - a 6% increase compared with Q1 2019. This increase was largely driven by revenue from data subscriptions, which rose to ₦74 billion – a 60% increase compared with Q1 2019. Revenue from data subscriptions is expected to further increase this quarter (Q2 2020) as workers in many parts of Nigeria are working remotely due to the coronavirus outbreak.

- Revenue grew by 16.7% to N329bn from N282bn in the previous quarter.
- Profit before tax grew by 8.9% to N76bn.
- Profit after tax grew by 5.6% to N51bn.
- Net Assets grew by 35.3% to N196bn from N145bn.

Service revenue rose by 16.7 percent year on year to NGN 328.5 billion, driven by voice and data revenue. Net profit increased by 5.6 percent to NGN 51.15 billion from NGN 48.44 billion in Q1 2019 and earnings per share increased by 5.6 percent to NGN 0.025.

EBITDA grew by 15.3 percent year on year to NGN 173.5 billion resulting in an EBITDA margin of 52.5 percent, an increase of 0.6 percentage points. Mobile subscribers increased by 4.2 million to 68.5 million, an increase of 7.4 percent. Active data users increased by 1.7 million to 26.8 million and data revenue grew by 59.2 percent. The performance was achieved against the backdrop of several developments during the quarter. Value-added tax (VAT) was increased in February from 5.0 percent to 7.5 percent, which adversely affected both revenue and costs.

MTN Nigeria said mobile subscribers increased by 4.2 million to 68.5 million, an increase of 7.4 percent.

MTN Nigeria’s Chief Executive Officer, Ferdi Moolman, said data revenue increased by 59.2 percent due to growth in data traffic and the addition of 1.7 million active Internet subscribers to the network during the quarter.

The situation has been exacerbated by upheavals in the global oil market, which put significant downward pressure on oil prices, leading to an exchange rate adjustment by the Central Bank of Nigeria on 20 March, increasing some of the operator's costs. In addition, a series of lockdown measures began being implemented globally in response to the Covid-19 pandemic, resulting in significant operational challenges and supply chain disruptions.

SOURCE: https://brandspurng.com/2020/04/30/mtn-nigeria-made-%e2%82%a651-billion-profit-and-gained-4-2-million-new-subscribers-in-q1-2020/

The continued sharp decline in working hours globally due to the COVID-19 outbreak means that 1.6 billion workers in the informal economy – that is nearly half of the global workforce – stand in immediate danger of having their livelihoods destroyed, warns the International Labour Organization.

According to the ILO Monitor third edition: COVID-19 and the world of work, the drop in working hours in the current (second) quarter of 2020 is expected to be significantly worse than previously estimated.

Compared to pre-crisis levels (Q4 2019), a 10.5 per cent deterioration is now expected, equivalent to 305 million full-time jobs (assuming a 48-hour working week). The previous estimate was for a 6.7 per cent drop, equivalent to 195 million full-time workers. This is due to the prolongation and extension of lockdown measures.

Regionally, the situation has worsened for all major regional groups. Estimates suggest a 12.4 per cent loss of working hours in Q2 for the Americas (compared to pre-crisis levels) and 11.8 per cent for Europe and Central Asia. The estimates for the rest of the regional groups follow closely and are all above 9.5 per cent.

Informal economy impact

As a result of the economic crisis created by the pandemic, almost 1.6 billion informal economy workers (representing the most vulnerable in the labour market), out of a worldwide total of two billion and a global workforce of 3.3 billion, have suffered massive damage to their capacity to earn a living. This is due to lockdown measures and/or because they work in the hardest-hit sectors.

The first month of the crisis is estimated to have resulted in a drop of 60 per cent in the income of informal workers globally. This translates into a drop of 81 per cent in Africa and the Americas, 21.6 per cent in Asia and the Pacific, and 70 per cent in Europe and Central Asia.

Without alternative income sources, these workers and their families will have no means to survive.

Enterprises at risk

The proportion of workers living in countries under recommended or required workplace closures has decreased from 81 to 68 per cent over the last two weeks. The decline from the previous estimate of 81 per cent in the second edition of the monitor (published April 7) is primarily a result of changes in China; elsewhere workplace closure measures have increased.

Worldwide, more than 436 million enterprises face high risks of serious disruption. These enterprises are operating in the hardest-hit economic sectors, including some 232 million in wholesale and retail, 111 million in manufacturing, 51 million in accommodation and food services, and 42 million in real estate and other business activities.

Urgent policy measures needed

The ILO calls for urgent, targeted and flexible measures to support workers and businesses, particularly smaller enterprises, those in the informal economy and others who are vulnerable.

“For millions of workers, no income means no food, no security and no future. […] As the pandemic and the jobs crisis evolve, the need to protect the most vulnerable becomes even more urgent.” – Guy Ryder, ILO Director-General

Measures for economic reactivation should follow a job-rich approach, backed by stronger employment policies and institutions, better-resourced and comprehensive social protection systems. International co-ordination on stimulus packages and debt relief measures will also be critical to making recovery effective and sustainable. International labour standards, which already enjoy tripartite consensus, can provide a framework.

“As the pandemic and the jobs crisis evolve, the need to protect the most vulnerable becomes even more urgent,” said ILO Director-General Guy Ryder. “For millions of workers, no income means no food, no security and no future. Millions of businesses around the world are barely breathing. They have no savings or access to credit. These are the real faces of the world of work. If we don’t help them now, these enterprises will simply perish.”

SOURCE: https://brandspurng.com/2020/04/30/ilo-as-job-losses-escalate-nearly-half-of-global-workforce-at-risk-of-losing-livelihoods/

The Board and Management of Wapic Insurance today announced the appointment of Mutiu Sunmonu CON as the Chairman of its Board of Directors and Bababode Osunkoya as Chairman of its subsidiary, Wapic Life Assurance Ltd. By this appointment, Sunmonu and Osunkoya succeed Aigboje Aig-Imoukhuede
CON, who retired effective April 27, 2020, after 8 years of diligent and committed service to both organizations.


Aig-Imoukhuede was appointed to champion the transformation of Wapic Insurance Plc and its subsidiaries Wapic Life Assurance Plc and Wapic Insurance (Ghana) Limited following the company’s successful execution of a merger between Wapic Insurance Plc and Intercontinental Properties Limited in November 2011. Over the past 8 years, Wapic Insurance Plc and its subsidiary Wapic Life Assurance Ltd has grown remarkably from an industry position of 18 to 8, and transformed into a frontline insurance company in subSaharan Africa.

According to the companies, “this board-leadership transition heralds the second phase of our growth plan, which is focused on extending our culture of distinction in service excellence, innovation, technology, sustainability practices, and operational efficiency”.

The companies added, “During the first transformation phase under Aig-Imoukhuede’s exemplary leadership, Wapic Insurance and Wapic Life Assurance implemented a number of transformational initiatives that stabilized and returned the 62-year old company to profitability and enabled Wapic to take its place amongst Nigeria’s Top 10 Underwriting companies”.

As Wapic moves on to the next phase of transformation, Mr. Sunmonu and Mr. Osunkoya, both respected business leaders with extensive board experience in various organizations across multiple sectors of the economy, will lead the Boards of Wapic’s Nigerian businesses. Over the next 5 years, Wapic Insurance and its subsidiaries aspire to a top 3 position in the Nigerian insurance industry and to expand operations further across the West African sub-region.

“I am excited to take on this new role and build on the tremendous achievements of Aigboje AigImoukhuede. I am going to work with management and employees to actualize the aspirations espoused in the second phase of our company’s growth plan, most especially creating value for shareholders”, said Sunmonu, Wapic Insurance Plc’s new chairman.

“Both Sunmonu and Osunkoya’s appointments are well-considered because of their pedigree and extensive boardroom experience, garnered serving on the board of various organizations across multiple sectors of the economy. Mr Sunmonu was outstanding in his role as Managing Director of Shell Petroleum and Development Company of Nigeria,” said Frank W. K. Beecham, Chairman, Wapic Insurance (Ghana) Limited, who also described Aigboje Aig-Imoukhuede’s tenor as “highly innovatory and very successful”.

Commenting, Mr. Osunkoya, the newly appointed Chairman Wapic Life Assurance said, “under Mr AigImoukhuede’s leadership, Wapic Life Assurance Ltd has not only raised the capital to meet the 8 Billion Naira minimum capital requirement, it is now one of Nigeria’s top Group-Life underwriters”. He also stated, “It is a great time for me to assume the role of Chairman as we are well-positioned to becoming the leading Life underwriters in the Industry”

Prior to his appointment, Osunkoya who joined the Wapic Assurance Board in January 2013, was the Chairman of the company’s Board Audit and Compliance Committee. A Senior Partner at the Chartered Accounting firm of Abax-OOSA Professionals. Mr. Osunkoya is one of Nigeria’s foremost-certified Forensic Auditors.

SOURCE: https://brandspurng.com/2020/04/27/sunmonu-succeeds-aig-imoukhuede-as-chairman-wapic-insurance-plc/

Kebbi State Governor, Senator Abubakar Atiku Bagudu, has challenged Veterinary Doctors in the country, to fully participate in the ongoing global efforts to find a vaccine and cure for the dreaded Coronavirus Disease (COVID-19), Pandemic.

The Governor threw the challenge in Birnin Kebbi, Thursday, when he received the members of the Kebbi State chapter of the Nigerian Veterinary Medical Association (NVMA), led by its Chairman, Dr Nuhu Hussaini Shehu.

According to the Governor, “you are eminently qualified to help and participate in the global race for the search of vaccines and cure for the Disease”.

“You have the basics to do so and you really understand the mechanics, to contribute to the global race to find a solution to COVID-19.”

He also told the visiting Vet Doctors that, by their training and disposition, they have the vintage advantage to help in calming down the palpable fear and tension orchestrated by the pandemic.

Senator Bagudu also disclosed that the state government has secured an N1.5billion naira loan from the Central Bank of Nigeria (CBN), to bolts the livestock sector.

He said: “Kebbi state has tremendous animal husbandry potential and vet medicine is key to bolstering the growth of the sector.”

“We will partner with the association to get more of our youths to be interested in the studio of Vet medicine."

“This is in the bid to get more resources to support the Veterinary sector and the attendant dividends.”

The Governor further averred that the state can favourably compete with any part of the world in terms of the abundant livestock potentials and endowments like cows, sheep, goats and even poultry.

Senator Bagudu also underscored the need for Nigeria to do the needful to accord the livestock sub-sector the due attention it deserves.

He added, “Livestock rearing is a common decimal in all our communities for centuries and we have the sociological foundation to do better.”

The Governor also expressed apprehension that, the Transhuman movements of pastoralists were capable of aggravating the community transmission of COVID-19.

Senator Bagudu vowed to include the Miyetti Allah Cattle Breeders Association in the COVID-19 Task Force, to help in curtailing the pandemic.

He thanked the association for demonstrating that anyone can render his help in the fight against the dreaded Coronavirus pandemic.

Dr Hussaini had earlier told the governor that, the visit was aimed at appreciating his sustained support to the association and the livestock sub-sector, generally.

He noted that the governor was the second in Nigeria to ensure that, the members of the association could reach the peak of their career by reaching up to Grade level 17, like other professionals, including Medical Doctors.
He lauded the governor for adequately funding the annual statewide Mass vaccination of livestock.

He equally thanked the governor for recognizing the services of veterinary doctors in the state and according to them a priority.

Dr Hussaini promised the governor that his association will fully participate in the global fight against the Covid-19 pandemic by Complimenting the effort of the Kebbi State Government in sensitizing the Fulanis on the practice of preventive measures such personal hygiene, washing of the hands and environmental cleanliness among others.

SOURCE: https://brandspurng.com/2020/04/25/kebbi-state-governor-challenges-veterinary-doctors-in-nigeria-to-help-in-finding-vaccine-cure-for-covid-19/

Access Bank Plc recorded a profit after tax of N40.9 billion in the first quarter period ended March 31st, 2020. This is according to the company’s financial statement for Q1 2020, which was released on the Nigerian Stock Exchange website.

Access Bank recorded an increase in its profit before tax to N46.2 billion in the period under review from N45.1 billion in the corresponding period of 2019.

The Bank's net interest income for the period under review stood at N72.2 billion. This indicates a 27% increase compared to N56.8 billion that was recorded in Q1 2019.

In Q1 2020, the bank said it had a net impairment charge of N8.6 billion, higher than N3.4 billion in the same period of 2019. Also, its net interest income after impairment charges increased to N63.6 billion from N53.5 billion.

Access Bank’s profit before tax for Q1 2020 stood at N46.2 billion. This is 2.6% more than N45.1 billion reported in Q1 2019. On the other hand, profit after tax decreased slightly by 0.53% to N40.9, down from N41.1 billion.

The earnings per share (EPS) dropped to N1.21 from N1.39.

Fee and commission expense of the Bank increased to N4.9 billion from N2.6 billion in the corresponding period of last year and this was due to the 88 per cent increase in e-banking expense and 149 per cent rise in the bank and electronic transfer charges.

SOURCE: https://brandspurng.com/2020/04/23/access-bank-reports-profit-of-n40-9-billion-in-q1-2020-unaudited-results/

The Coca-Cola Company reported first-quarter 2020 results and provided insight into how the company is navigating through the ongoing coronavirus pandemic. The Coca-Cola system continues to work to ensure the safety and support of its employees, consumers, customers and communities during this challenging time.

The beverage company has announced that its global sales volumes have fallen 25% this month due to COVID-19 disruption, as the company reported flat Q1 revenues.

Coca-Cola reported Q1 revenues of $8.6 billion, representing a fall of 1% when compared to the same period last year.

In addition, the company’s operating income declined marginally by 2% to $2.38 billion. Unit case volumes of sparkling soft drinks declined 2% in the quarter, while juice, dairy and plant-based beverages were down 6% and tea and coffee volume declined 6%.

A closer look at the statement by Brand Spur shows that the Unit case volume was even as strong growth through February was offset by the coronavirus-related impacts in March. In terms of markets, strong growth across Nigeria, the Middle East and North Africa was offset by declines in Western Europe and South Africa

The company entered 2020 with solid momentum, coming off strong results in 2019. Through the end of February, the company was growing volume 3%, excluding China, and was on track to achieve its previously provided full-year 2020 targets.

According to a statement in the company’s quarterly earnings release said: “The ultimate impact on the second quarter and full-year 2020 is unknown at this time, as it will depend heavily on the duration of social distancing and shelter-in-place mandates, as well as the substance and pace of macroeconomic recovery. However, the impact to the second quarter will be material.”

"We sincerely thank those who have been working to keep all of us safe through the crisis, particularly those on the front lines in the healthcare community. I also want to recognize our system associates, who are ensuring we can continue to supply beverages around the world," said James Quincey, chairman and CEO of The Coca-Cola Company. "Our approach to navigating the pandemic is grounded in our company’s purpose, which ensures that we continuously strive to make a difference for people in the communities we serve around the world. We’ve been through challenging times before as a company, and we believe we're well-positioned to manage through and emerge stronger. The power of the Coca-Cola system is our greatest strength in times of crisis. The resilience of our people, the equity of our brands and the strength of our bottling partners continue to be competitive advantages in the market."

SOURCE: https://brandspurng.com/2020/04/23/coca-cola-volumes-decline-25-globally-during-covid-19-lockdowns/

Heineken has reported that its beer sales have been significantly impacted by the coronavirus outbreak, with global beer volume sales falling 14% in March.

Heineken, which owns major beer brands including its namesake Heineken brand and Amstel – reported in its first-quarter results that beer volume for the quarter fell 2.1%, largely driven by declines in March across its global units.

Beer volumes fell 14.5% in Africa Middle East & Eastern Europe.

- Beer volume -2.1% organically for the quarter.
- Heineken® volume +5.0% in the quarter.
- March volume significantly impacted by COVID-19.

Jean-François van Boxmeer, Chairman of the Executive Board / CEO, commented:

"During the first quarter of 2020, the COVID-19 outbreak has evolved into a pandemic. By now, most countries where we operate have reacted by taking far-reaching containment measures such as restrictions of movement for populations and outlet closures, sometimes combined with the mandatory lockdown of production facilities. Our performance for the first quarter reflects the initial impact of those measures, and volumes in March were obviously heavily affected.

In these very trying times, our thoughts remain with all those affected by COVID-19 and the people working tirelessly to care for them. In addition to our actions with local communities which are now approaching a value of €5 million, on April 8th we announced our decision to donate €15 million to the International Red Cross and I am pleased to report that the de Carvalho-Heineken family together with their holding company will donate €10 million to eight charities providing support to communities most affected and fragile, to medical health systems and to medical research.

HEINEKEN has entered the crisis with strong brands and a strong balance sheet. In the past few weeks, we have taken necessary measures to reduce our costs, secure additional financing and adapt to the fast changes we see in our markets.

I am proud of the leadership, the commitment and the courage of our teams and I fully trust their talent, creativity and energy to steer HEINEKEN through this unprecedented situation and protect as well as develop our brands and businesses."

FIRST QUARTER VOLUME REVIEW

With the spread of the COVID-19 crisis to all geographies, multiple countries have taken far-reaching containment measures such as restrictions of movement for populations and outlet closures, sometimes combined with the mandatory lockdown of production facilities. This is having a significant impact on HEINEKEN's markets and on its business in 2020 and is already visible in the volume reported for the first quarter. In most cases, these measures were implemented in the last weeks of March. By exception, specific reference is made to the volume performance in March per Region to improve transparency.

Heineken® brand

Heineken® volume grew by 5.0% in the quarter, with a decline of 2.4% in March.
Volume grew double-digit in Brazil, China, Mexico, the UK, Poland, Mozambique, Ivory Coast and South Korea among other markets.
Heineken® 0.0 was introduced in Vietnam in March and is now present in 58 countries.

Africa, Middle East & Eastern Europe

- Beer volume declined organically by 6.9% in the quarter, with a decline of 14.5% in March.

- In Nigeria, beer volume was broadly flat in the quarter and declined high-single digit in March, following a price increase in February and the ban on distribution of alcoholic beverages late March. The alcohol ban is applicable in some states where we continue to sell non-alcoholic malt drinks.

- In South Africa, total consolidated volume declined in the low-twenties in the quarter due to destocking from last year and the ban on sales, production and distribution of alcoholic beverages starting the last week of March. Total consolidated volume declined in the mid-twenties in March.

- In Russia, beer volume declined in the mid-teens due to destocking relative to last year.

- In Ethiopia, beer volume declined in the mid-teens, following a steep price increase in mid-February to offset any increase in excise duties.

- In Egypt, beer volume declined in the low-teens in the quarter and by about one half in March following a drop in tourism.

- In the DRC, beer volume declined by low-single-digit due to a decline in the mid-teens in March.

Americas

- Beer volume declined organically by 2.5% in the quarter, with a decline of 13.8% in March.

- In Brazil, beer volume declined mid-single digit. Our premium and mainstream portfolios grew double-digit, led by Heineken® growing by more than 50%. The economy portfolio declined in the mid-twenties. In March, beer volume declined in the mid-twenties. Non-beer volume declined by one-third due to the de-listing of a low-margin brand in some regions last year.

- In Mexico, beer volume increased low-single digit. Our premium portfolio increased double-digits, led by Heineken® and Amstel Ultra. Following government orders, our breweries have been suspended for the month of April. At that moment we estimate our customers held 2 to 3 weeks of inventory.

- In the USA, beer volume declined mid-single digit, with Heineken® growing low-single-digit driven by Heineken® 0.0. Lagunitas declined high-single-digit. Together with our distributors, we held inventory to supply around two months of our Mexican brands portfolio at the end of March.

Asia Pacific

- Beer volume grew organically by 4.4% despite a decline of 10.6% in March.

- In Vietnam, beer volume grew in the low-teens, underpinned by the continuing expansion of Tiger into secondary cities and rural areas. We launched Heineken® 0.0 and Bia Viet, a new national brand. In March beer volume declined mid-single digit.

- In Indonesia, beer volume declined in the mid-teens due to a drop in tourism in Bali and on-trade restrictions to contain the outbreak.

- In Cambodia, beer volume increased high-single-digit driven by our local brand Anchor.

- In Malaysia, beer volume declined mid-single digit in the quarter and by more than half in March, following the suspension of brewery operations under the government's Movement Control Order.

Europe

- Beer volume declined organically by 1.4% in the quarter, with a decline of 15.3% in March. Third-party volume declined 17.8% in the quarter and 49.2% in March as on-trade outlets closed impacting our wholesale operations.

- In Italy, beer volume declined by low-single-digit in the quarter. Most of the month of March was under lockdown and beer volume declined by one-third, with volume to on-trade customers declining by three-quarters and volume to off-trade customers up low-single digit.

- In Spain, beer volume declined mid-single digit in the quarter. In March, total volume declined around one-quarter, with volume to on-trade customers down by almost half and volume to off-trade customers up in the low-teens.

- In the UK, total consolidated volume was down mid-single digit for the quarter and in March, due to record rains in February and the lockdown in late March. Our pub estate has been closed since the last week of March.

- In France, beer volume was up a low-single-digit. During March, volume declined mid-single digit, as the decline in volume to on-trade customers of close to half was partially offset by the high-single-digit volume growth to off-trade customers.

- In Poland, beer volume was up high-single-digit driven by the mainstream and premium portfolios and a return to normal stock levels at our largest distributor. In March, volume declined high-single-digit.

- In the Netherlands, beer volume was down mid-single-digit, with a decline in the mid-teens in March.

HEALTH AND SAFETY OF EMPLOYEES

During these trying times, HEINEKEN has set as first priority the health and safety of its people. HEINEKEN ensures that employees working in production and distribution follow strict hygiene and social distancing guidelines and receive support to do their jobs safely.

In order to provide security to its employees, HEINEKEN has committed that until the end of 2020, it will not carry out structural layoffs, as a consequence of COVID-19. As a message of solidarity with the company and the employees who are affected by this crisis, the Executive Board and Executive Team have also collectively agreed to reduce their base salary by 20% between May and December 2020.

DONATIONS

In addition to the actions with local communities which are now approaching a value of €5 million, on April 8 HEINEKEN announced a donation of €15 million to support the International Federation of Red Cross and Red Crescent Societies (IFRC) relief efforts for the most vulnerable people affected by COVID-19, in particular in Africa, Asia and Latin America.

Today, HEINEKEN is pleased to report that the de Carvalho-Heineken family together with their holding company have decided to donate €10 million to eight charities supporting the COVID-19 relief efforts, four in the Netherlands and four international. These organisations cover a number of different needs, from support to affected communities to support medical health systems and medical research.

BUSINESS IMPACT AND MITIGATING ACTIONS

The initial impact of the COVID-19 crisis is visible in the volume performance of this quarter and is expected to worsen in the second quarter of 2020. The second half of the year is also expected to be impacted, as lockdowns may be lifted but the impact on the economy is likely to remain. Our results in 2020 will be impacted by lower volumes and other effects, including:

A significant risk of negative transactional and translational currency impacts due to the devaluation of emerging markets currencies versus the US dollar and the Euro.
The increased risks on credit losses from customers, business continuity of small suppliers, impairments and non-effective hedge contracts.

Since the beginning, crisis management teams have been in place at a global, regional and local level, to ensure a coordinated response in regards to the health & safety of our employees, business continuity and the implementation of mitigating actions.

All discretionary expenses are being reduced. In particular, international travel, corporate events and hiring for all positions have been suspended. All non-committed CAPEX has also been suspended, unless absolutely necessary for the immediate business continuity or safety. Projects and technology upgrade programmes are being temporarily paused or scaled-down and will be evaluated. Furthermore, bonuses for 2020 will be cancelled for Senior Managers, including the Executive Board and the Executive Team.

Operating companies are reducing and reallocating marketing expenses and continuously assessing effectiveness under the current environment. Consumer communication is being adapted to support activities that help on-trade customers and reflect social distancing.

Teams are quickly reacting to business changes. Service levels to modern retailers have increased, focusing on key SKUs and shelf replenishment, including outside-store hours service and direct store delivery. Business-to-consumer initiatives are accelerated to capture the growth of e-commerce channels.

The lack of visibility on the end date of the COVID-19 pandemic and the duration of its impact on the economy has led HEINEKEN to withdraw all guidance for 2020.

FINANCING UPDATE

HEINEKEN entered the crisis with a strong balance sheet and an undrawn committed revolving credit facility of €3.5 billion maturing in 2024. There are no financial covenants in the outstanding debt. In recent weeks, HEINEKEN has successfully secured additional financing by issuing new bonds.

On 18 March 2020, Heineken N.V. placed CHF 100 million of 5-year Notes with a coupon of 0.6375% privately.

On 25 March 2020, HEINEKEN placed €600 million of 5-year Notes with a coupon of 1.625% and €800 million of 10-year notes with a coupon of 2.25%. The notes were issued under the Company's Euro Medium Term Note Programme and are listed on the Luxembourg Stock Exchange. The proceeds from the Notes issuance will be used for general corporate purposes. The maturity dates of the Notes are 30 March 2025 and 30 March 2030.

HEINEKEN is well prepared to meet its financial commitments, including the €1 billion bonds maturing on 4 August 2020 and the final dividend for 2019 corresponding to €1.04 per share on 7 May 2020, subject to the approval of the Annual General Meeting on 23 April 2020.

HEINEKEN will deviate from its dividend policy and will not pay an interim dividend following its half-year results in August 2020.

REPORTED NET PROFIT

Reported net profit for the first three months of 2020 was €94 million (2019: €299 million), impacted by the volume drop in March due to COVID-19 and limited benefit from the mitigation actions.

SOURCE: https://brandspurng.com/2020/04/23/heinekens-beer-sales-fall-14-in-march-due-to-covid-19/

Wapic Insurance Plc ((Wapic or the Company) one of Nigeria’s leading underwriters has become the first Nigerian motor insurer to offer customers refunds on their insurance premiums.

This act of empathy is made in line with Wapic’s understanding that most drivers are stuck at home and unable to drive their motor vehicles in line with the COVID-19 pandemic stay at home policy.

Beyond financial and other contributions the company is making to fight the COVID-19 pandemic, Wapic is serious about supporting its customers, particularly the most vulnerable, during this difficult time. The insurer takes pride in always putting customers first and continually improving its services to deliver a unique and excellent customer experience.

Wapic’s outgoing Chairman Mr Aigboje Aig-Imoukhuede advised, “We know that our
customers are experiencing unprecedented circumstances and many are struggling to cope.
We want to recognise the sacrifice you are making by driving significantly less as you support our country’s objectives in flattening the curve of the pandemic. We want our customers to know they can Rest Assured and we will defeat this pandemic together.”

Wapic is passing the benefit of reduced motor insurance claims during this period onto our existing policyholders. The refund will automatically be credited to customers with active policies at the end of the lockdown period.

SOURCE: https://brandspurng.com/2020/04/23/wapic-insurance-plc-to-refund-motor-vehicle-insurance-premiums-during-the-national-lockdown-period/

Air Peace Nigeria, has joined the Government and other well-meaning Nigerians to show love and support to lots of people who cannot make ends meet during this COVID-19 lockdown.

The Managing Director of the Airline, Chief Allen Onyema, who went out with his team to share the relief materials, stated that it was the company’s own way of touching lives directly.

In his words, “What we have done is our own way of touching the lives of Nigerians directly. That’s why we’re going to areas which are populated by very indigent people, while observing social distancing”

Against all odds, Air Peace has been one big brand which has been in the news for the right reasons as they continue to serve the interest of Nigerians both home and abroad. It would be recalled that the company was solely responsible in evacuating Nigerians from South Africa during the Xenophobia attacks and also made another history as its Boeing 777-200ER (P4 5-NBVE) landed in Beijing, China, after a 14-hour direct flight. This is the first time a Nigerian airline would be doing a direct non-stop 14 hours flight to China.

SOURCE: https://brandspurng.com/2020/04/23/coronavirus-air-peace-donates-food-items-to-the-less-privileged/