Cherry Eromosele Receives Another Recognition, Conferred With An Honorary Doctorate Degree

June 2, 2023

Cherry Eromosele, a renowned and accomplished leader in marketing and communications, has been awarded an Honorary Doctorate degree – Doctor of Philosophy in Business Administration (Honoris Causa) by Prowess University, Delaware, USA.

This prestigious recognition is a testament to her exceptional transformational leadership, immense contributions to humanitarian efforts, and remarkable dedication to national development.

Cherry Eromosele currently holds the position of Executive Vice President, Marketing and Communications for Africa at Interswitch Group, where she plays a pivotal role in the company’s senior leadership team. Her creative vision, deep understanding of company values, and exceptional business leadership skills have been instrumental in driving brand differentiation, market leadership, and maximizing returns on marketing investments.

With a bachelor’s degree in Biological Sciences Education from the University of Benin, Cherry Eromosele has consistently pursued professional growth and development. She has participated in executive, functional, leadership, and management programs offered by prestigious institutions such as Cranfield School of Management, Columbia Business School, Wharton Business School, Kellogg Business School (Northwestern University), and the Oxford Fintech Program at Said Business School.

Cherry Eromosele Receives Another Recognition, Conferred with Honorary Doctorate Degree

Throughout her illustrious career spanning over 25 years, Cherry Eromosele has amassed versatile and multi-industry functional and leadership experience.

She has excelled in product and marketing innovation across various sectors, including FMCG (alcoholic beverages), telecommunications, fast-moving consumer healthcare, and most recently, fintech/e-payments across key African markets. Her ability to consistently deliver exceptional results when venturing into new territories has set her apart as a dynamic and performance-driven professional.

Cherry Eromosele’s significant contributions to the marketing landscape in Nigeria have garnered widespread recognition. In 2015, she was honored as the Marketing Personality of the Year in Nigeria by Marketing Edge. Additionally, she was named one of the top 50 Marketing Professionals in West Africa at the 7th edition of the annual Marketing World Awards held in Accra, Ghana in 2019.

In 2020, she received the Most Outstanding Marketing Professional of the Year award in the Financial Technology category at the Women in Marketing & Communications Conference/Awards (WIMCA). Furthermore, she has been consecutively named among the Global Top 100 Marketing Leaders in Technology by Hot Topics in 2021 and 2022.

Alongside her recent doctoral conferment, Cherry Eromosele has been certified as a Fellow of the Ecolerite Institute for Peacebuilding (FEIP). This prestigious certification acknowledges her deep commitment to fostering peace, justice, and sustainable development within communities. As a Fellow of the Ecolerite Institute for Peacebuilding, she joins a distinguished group of global leaders dedicated to promoting peace and fostering understanding among diverse populations.

Speaking on the recognition, Eromosele said, “I am deeply humbled and honored to receive this prestigious recognition from Prowess University and to be certified as a Fellow of the Ecolerite Institute for Peacebuilding.

“It is a testament to the power of transformational leadership and the impact that can be made through dedicated efforts in business and community development. I am also deeply grateful for the support and guidance I have received throughout my career.”

With these exceptional recognitions, Cherry Eromosele is further inspired to continue her pursuit of excellence, driving positive change, and creating transformative impact in both her professional endeavors and philanthropic initiatives.

Samsung Launches New Galaxy A24 LTE In Nigeria

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Dollar To Naira Exchange Rate Today (Fri. Jun. 2, 2023)

June 2, 2023

Dollar To Naira Exchange Rate For 8th Dec 2023

Dollar to naira, on Friday, June 2, 2023, opened at (undisclosed) at the Investors & Exporters FX window ( I&E FX Window), where the currencies officially trade.

According to the data at the FMDQ Security Exchange where forex is traded officially, the dollar to naira exchange rate stood at (undisclosed).

This would mean that the Nigerian currency either gained or lose in value against the United States dollar, as the foreign exchange (forex) trading closed at N461.26 per $1 on Wednesday, May 31.

How much is the dollar to naira at the black market today?

Going by sources at the Bureau De Change (BDC) in Lagos, the dollar to naira last traded between ₦740 and ₦745 with an average of ₦743.33 in the black market in the state.

It is, however, pertinent to note that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), as it has directed individuals who want to engage in forex to approach their respective banks

7 Ways Fuel Subsidy Removal Will Affect You

June 2, 2023

It is no longer news that the Federal Government (FG) has removed the much-talked-about fuel subsidy many experts argued it’s plunging the nation into economic woes. However, while the subsidy was only expected to be removed by the end of June 2023, the Nigerian National Petroleum Corporation (NNPC) released new pump prices for petrol across the country.

This, BizWatch Nigeria, understands will affect the Nigerian citizenry, but differently.

Below are how fuel subsidy removal will affect Nigerians

Higher Fuel Prices: One immediate effect of removing petrol subsidies is an increase in fuel prices. This can lead to higher transportation costs, affecting the prices of goods and services across the country. Nigerians may experience a rise in the cost of living as a result.

Inflation: Increased fuel prices can contribute to inflationary pressures within the economy. When transportation costs rise, businesses may pass on these costs to consumers, leading to higher prices for goods and services overall.
Reduced Purchasing Power: Higher fuel prices can directly affect the disposable income of individuals and families. As more money is allocated to fuel expenses, there may be less money available for other essential needs, such as food, education, healthcare, and leisure activities. This can result in reduced purchasing power for Nigerians, particularly those with lower incomes.
Transportation Challenges: For many Nigerians, particularly those in urban areas, transportation costs heavily rely on petrol. The removal of subsidies can lead to increased public transportation fares, making commuting more expensive. This can pose challenges for daily commuting, especially for low-income individuals who heavily depend on public transport.
Impact on Businesses: Higher fuel prices can have a significant impact on businesses, particularly those heavily reliant on transportation. Industries such as logistics, delivery services, and manufacturing may face increased operational costs, potentially leading to reduced profitability. These effects can trickle down to employment opportunities and economic growth.
Social Unrest: The removal of petrol subsidies has historically been met with protests and social unrest in Nigeria. This is often due to the perceived burden it places on the population, especially those already struggling with poverty. The resulting protests and strikes can disrupt economic activities and lead to political tensions.
Promoting Alternative Energy Sources: On the positive side, the removal of petrol subsidies can encourage the adoption of alternative energy sources, such as renewable energy and electric vehicles. With higher fuel prices, individuals and businesses may seek out more cost-effective and sustainable energy options, ultimately reducing dependence on fossil fuels and contributing to a greener future.

It’s, however, important to note that the specific impact of petrol subsidy removal can vary depending on various factors, including the government’s approach, global oil prices, and the effectiveness of mitigation measures to alleviate the potential negative effects on the population.

Top 7 Lifestyle Changes To Make This Post Subsidy Period

Samsung Launches New Galaxy A24 LTE In Nigeria

June 2, 2023

Samsung Heirs To Pay $10bn In Tax, One Of Highest Inheritance Tax Settlements

The newest model of the well-liked Galaxy ‘A’ series smartphone has been unveiled by Samsung Electronics in Nigeria, allowing customers more ways to stay connected and have an exceptional mobile experience.

With a host of incredible features, a brand-new look, and a camera that captures clean, steady images, the Samsung Galaxy A24 LTE is on a quest to redefine wonderful. It has a sizable storage capacity that enables you to securely save your essential files, music, apps, downloads, and collection of all the memorable moments in your life that have been preserved in photos and videos.

The Galaxy A24 LTE, which replaces the Galaxy A23 LTE, sports the most recent version of Samsung’s One UI software, version 5.1, to provide you an even better mobile experience.

The phone’s huge built-in memory of 4 or 6GB of memory and 128GB storage, which is extensible by up to 1TB with MicroSD1, enables users to save all programs and files, keeping them safe and secure.

With Galaxy’s distinctive design aesthetic, which was influenced by Samsung’s flagship series, the Galaxy A24 LTE looks the part as well.

The upgraded design of the phone features a glossy finish and prism-patterned back cover, as well as a polished and enhanced camera deck. The phone has a sophisticated appearance thanks to the optimum ratio between the corner and camera modules, and the absence of a camera housing is right out of the peak Galaxy S series design playbook.

The super AMOLED 6.5-inch full high-definition screen on the Galaxy A24 LTE provides a dazzling, vibrant display. Scrolling through your phone, binge-watching your favorite shows, or playing games would be a pleasant experience that would be easy on your eyes thanks to its eye care display3 and low blue light output that is always clear even in strong sunlight.

Because of the large 5,000mAh battery, which can operate the Galaxy A24 LTE for more than two days on a single charge, consumers will be able to use them for a significantly longer period of time.

At a suggested retail price of N166,900 for six gigabytes plus 128 gigabytes and N156,900 for four gigabytes plus 128 gigabytes, the Galaxy A24 LTE is now offered in retail stores.

Nigeria’s Tax-To-GDP Ratio Is Now 10.86% – FIRS

LinkedIn Ranks 9mobile Top 25 Best Workplaces In Nigeria

June 2, 2023

9mobile, Nigeria’s innovative and customer-friendly telecommunications company, has been ranked among the 25 Best Workplaces in Nigeria where employees can grow their careers in the 2023 LinkedIn Top Companies Ranking.

The LinkedIn Top Companies ranks the 25 best companies investing in their talents and helping people build careers that will set them up for long-term success.

9mobile, with an impressive track record in talent development and management, made the list by performing excellently on the eight assessment pillars of career progression: ability to advance; skills growth; company stability; external opportunity; company affinity; gender diversity; educational background and employee presence in the country.

LinkedIn described the assessment pillars in a statement, “Ability to advance tracks employee promotions within a company and when they move to a new company, based on standardized job titles. It said Skills growth looks at how employees across the company gain skills while employed at the company, using standardized LinkedIn skills. For Company Stability, LinkedIn tracks attrition over the past year and the percentage of employees that stay at the company for at least three years”.

It also said, “External Opportunity looks at Recruiter outreach across employees at the company, signaling demand for workers from these companies. Company Affinity, which seeks to measure how supportive a company’s culture is, looks at connection volume on LinkedIn among employees, controlled for company size. While Gender Diversity measures gender parity within a company and its subsidiaries,”. Finally, Educational Background examines the variety of educational attainment among employees, from no degree to Ph.D. levels, reflecting a commitment to recruiting a wide range of professionals.” The LinkedIn statement concludes.

Commenting on this ranking for 9mobile, Chief Human Resource Officer Ibrahim Musa Umar, expressed great pleasure and said that it affirmed the telco’s firm commitment to talent development, staff welfare, and a pleasant work environment.

“This recognition is a testament to our commitment to providing a conducive work environment that fosters growth, learning, and development for all our employees. We are proud to be among the best companies in Nigeria that prioritize their employees’ well-being and career growth. We strive to provide an internationally competitive environment for our employees and ensure our professional standard is the same as any global organization. We also ensure that our measures and quality delivery are competitive to match international level,”. He said.

He praised the loyalty, professionalism, and hard work of the staff and said, “I want to all our team for their hard work, dedication, and commitment to the success of 9mobile. Their contributions have been invaluable, and we achieved this recognition with their input. He concluded by describing the team as the most resilient professionals he has encountered in 20 years of being in the telecoms industry.

At 9mobile, our success is tied to the success of our employees, and we are committed to providing the necessary tools, resources, and support to help us achieve those career aspirations. This recognition motivates us to continue to do more and create an even better workplace for our employees”. Umar further reveals.

LinkedIn Top Companies is the latest recognition for 9mobile. It recently won the ‘The Industry Award for Innovation’ award at the 2023 edition of The Industry Awards; it was also recognized with ‘Certificates of Excellence’ for ‘9mobile Future CEO Initiative’ and the 9mobile Health Talk at the SABRE Awards Africa 2023.

Top 7 Lifestyle Changes To Make This Post Subsidy Period

June 2, 2023

Almost 6m Nigerians Abandon Their Bank Accounts Over Rising Costs Of Living

As a result of recent events in the nation, the Federal Government has declared the termination of fuel subsidies, and (PMS) Petrol prices have all increased by 150%. As a result, the cost of living is expected to rise dramatically as well.

Table of Contents

We at Bizwatch Nigeria have heard all your prayers, and in light of the withdrawn subsidy, here are some strategic measures you might want to think about to lessen the impact on you:

1. Cut Down On Expenses

Minimize your living expenses and also other expenses, especially the daily expenses you think are minor but over a month becomes huge, refuse those little urges that you have to buy things, go to places, and do things that cost money. The more money you save, the better.

2. Make More Money

Find more sources for more income; this can create a stream of income for your expenses, especially transportation. It could mean getting more skills to offer services online, etc.

3. Brace Your Skills

Skill up and consider remote jobs. Hopefully, you are in an environment with a stable power supply. Save up and consider installing inverters in your house. Especially if you work remotely.

4. Patronize Your Neighbourhood

Make sure you and your family are close to the neighborhood as much as possible. Patronize neighborhood schools, markets, churches, hospitals, and all other essential commodities for living.

5. Cook Your Food

If you can, cook more food and take it to work, save yourself the cost and stress from that daily eating out, This will help a lot in saving your expenses and also food rationing.

6. Stay Healthy

Take care of your health. Imagining spending 100k on fueling your car(if you have one) and still spending so much on avoidable medicals. Live healthily and exercise.

7. Stay At Home

Cut down on your waka waka. If it is not so vital, then don’t go. Plan your movement and kill 10 birds with 1 stone. you can as well find a colleague who drives that you can join daily, and help with their fueling with a dedicated amount you give them. Some won’t even take but it is always thoughtful to offer. Organizations should purchase vehicles that will take employees to and from work at a non-commercial rate.

Don’t overthink the situation we are in now, make sure not to panic buy, and don’t spend money recklessly as saving culture is what we need to survive the most at this period, the less we spend, the more we save. Everything will work itself out eventually.

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BREAKING: CBN Denies Devaluing Naira

June 1, 2023

The Central Bank of Nigeria, CBN said it has not devalued the naira urging the public to dismiss any contrary report.

CBN’s Acting Director, Corporate Communication, Dr. Isa AbdulMumin stated this in a statement titled, “CBN Has Not Devalued the Naira”.

He said: “The attention of the Central Bank of Nigeria (CBN) has been drawn to a news report… titled “CBN Devalues Naira To 630/31”.

“We wish to state categorically that this news report, which in the imagination of the newspaper is exclusive, is replete with outright FALSEHOODS and destabilizing innuendos, reflecting potentially willful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market.

“For the avoidance of doubt, the exchange rate at the Investors’ & Exporters’ (I&E) window traded this moming (June 1, 2023) at N465/US$1 and has been stable around this rate for a while.”

The bank advised the public to ignore the news report in its entirety, saying it’s speculative and calculated at causing panic in the market.

More to follow…

Nigeria’s Tax-To-GDP Ratio Is Now 10.86% – FIRS

June 1, 2023

Citizens Should See Effects Of Tax Revenue - FIRS' Boss To Govs

The Federal Inland Revenue Service (FIRS) Executive Chairman, Mr. Muhammad Nami, revealed yesterday that the nation’s tax-to-GDP ratio climbed to 10.86% in 2021 from roughly 6% over the previous 12 years.

Using data from 2010 to 2021, he claimed that the ratio was shared with the FIRS via a letter signed by Mr. Adeyemi Adeniran, Statistician-General of the Federation and Chief Executive of the National Bureau of Statistics (NBS), after a joint review by the two organizations and the Federal Ministry of Finance.

This occurred as the World Bank and the Nigeria Customs Service (NCS) cooperated to encourage compliance with trade laws and considerably lower the cost of transporting goods and charges at Nigerian ports.

Muhammad, however, maintained his plea for the federal government to rethink its tax waiver policy in order to ensure more money is available to fund development programs.

Muhammad noted in a statement released by his Special Assistant on Media and Communication, Mr. Johannes Wojuola, that the change took into account revenue items that were previously not included in the calculations, particularly important revenue collected by other government agencies.

In essence, the tax-to-GDP ratio assesses a nation’s tax collection in relation to the size of its GDP-based economy.

The ratio can be used to evaluate a nation’s tax system’s health and to show how much tax revenue is available given the size of the economy.

It is the most accurate indicator of how well the tax system works internationally.

Muhammad continued by saying that data used to calculate the country’s tax to GDP ratio, which was previously estimated to be between 5% and 6%, did not include tax money that accrued to other government entities.

He claimed that earnings gathered by organizations besides the FIRS, Customs, and States Internal Revenue Service were not included.

According to him, Nigeria’s situation was unusual because many other nations have harmonized tax systems in which all or most tax revenues are collected by a single government agency, with single-point tax revenue reporting allowing all relevant tax revenues to be included in the calculation.

Mohammad stated, “The FIRS launched a reassessment and re-computation of the ratio for 2010 to 2021 in order to accurately report the tax-to-GDP ratio. Key indicators that were previously ignored were taken into account when recalculating the ratio. As a result, the tax-to-GDP ratio for 2021 was changed to 10.86% from the previously announced 6.0%.

Nigeria’s tax to GDP ratio, according to him, should typically be greater than 10.86%, but for certain economic and fiscal policy considerations, such as tax exemptions and leakages brought on by the country’s disjointed tax structure.

“It is important to note that the tax-to-GDP ratio for Nigeria should be higher but for the impact of tax waivers contained in our various tax laws, including exemptions to Micro, Small and Medium Enterprises brought in by Finance Act, 2019, low tax morale, leakages caused by the country’s fragmented tax system, and the impact of the GDP rebasing in 2014,” the FIRS chairman said.

However, Adeniran framed the evaluation in his letter to the service as a facelift for the nation’s tax-to-GDP ratio in comparison to other nations.

He added that the NBS had “carefully and diligently reviewed the methodology used for computing the revised estimates, as well as the various items that have been included in the new computation,” and that the NBS had adopted the new Tax-to-GDP computation as a result of its review and meetings with FIRS.

Under the Accelerating Revenue Mobilization Reforms Program (ARMOR), NCS has started the procedures for transitioning from the Fast Track Regime to Fast Track 2.0 (FT 2.0).

Abdullahi Maiwada, a spokesperson for customs, noted in a statement that the system admits traders based on their adherence to rules and contribution to trade in Nigeria in order to reward compliance and ease trade.

He stated that the introduction of Fast Track 2.0 would allow the service to shorten trade processes, increase compliance, and provide a more efficient and rewarding environment for traders.

When fully functional, the system, according to Maiwada, should incentivize traders to abide by customs laws and regulations.

“The potential for significant cost reductions associated with cargo handling and demurrage at the ports is one of the main advantages,” he said.

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Fuel Scarcity: Lagos Govt Urges Motorists Not To Obstruct Traffic

June 1, 2023

The Lagos State Government (Govt) amidst the midst of widespread fuel shortages has issued a warning to motorists who are blocking traffic flow by lining up to access filling stations and parking their vehicles indiscriminately.

Engr. Abdulhafiz Toriola, Permanent Secretary, Ministry of Transportation, issued the warning on Wednesday in a statement issued by the Principal Public Affairs Officer, Babs Olorunkemi.

He emphasized that individuals seen queuing for petrol must also ensure that traffic flow is not hampered, stressing that there are no excuses for traffic violations and that the Lagos State Traffic Management Authority (LASTMA) has been tasked with enforcing state traffic rules.

See the full statement below:

LAGOS STATE GOVERNMENT
MINISTRY OF TRANSPORTATION
PRESS RELEASE

FUEL SCARCITY: LASG WARNS MOTORISTS ON INDISCRIMINATE PARKING.

The Lagos State Government has warned motorists in the State who are in the habit of parking their vehicles indiscriminately on highways and inner roads in a bid to purchase fuel, to desist from hindering traffic flow within the metropolis.

Issuing the warning, the Permanent Secretary, Ministry of Transportation, Engr. Abdulhafiz Toriola stated that the Ministry has observed with dismay activities of motorists parking and queuing in unauthorized places thereby hindering free flow of traffic, hence the need for caution. He further stressed that those found queuing for fuel should also ensure that the flow of traffic is not adversely affected, stating there are no excuses for traffic violation.

He reiterated that efficient traffic management has remained crucial in the attainment of seamless multi-modal transportation system of the state, hence, the need for strong collaboration of the motoring public to ensure the efforts of the government is not threatened by the surge of unlawful parking.

While confirming that the Lagos State Traffic Management Authority, LASTMA, have been mandated to enforce the state traffic laws in light of any impediment on traffic flow, the Permanent Secretary however, urged residents to join hands with the State Government in finding lasting solution to daily traffic congestions occasioned by these crop of traffic violators, by being traffic law abiding citizens.

Babs Olorunkemi (Mr.)
Principal Public Affairs Officer,
31st May, 2023.

Tinubu, INEC Rejects Atiku’s BVAS Exhibits

NLC Condemns NNPC’s New Fuel Price

June 1, 2023

The Nigerian Labour Congress (NLC) lashed out on Wednesday at the Nigerian National Petrol Company (NNPC) Limited’s modification of pump prices.

The NNPCL verified the increase in the pump price of Premium Motor Spirit, better known as petrol, just 48 hours after President Bola Tinubu announced the end of the subsidy era during his inaugural speech at Eagle Square in Abuja on Monday.

Fuel queues have resurfaced across the country since the president’s announcement, as Nigerians scramble for the premium product, which has increased in price from roughly ₦185 per litre to between ₦400 and ₦600 per litre.

Concerned about the situation, NLC President Joe Ajaero released a statement in which he expressed concern that the national oil company would declare an increase.

Ajaero described the event as sad, and said the NNPCL’s decision came on the heels of an ongoing discussion with stakeholders in the oil and gas sector to manage the President’s unilateral but unfortunate declaration.

“It is therefore unacceptable and we seriously condemn it. Good faith negotiation is key to reaching agreement. What the government has done is like holding a gun to the head of Nigerian people and bringing undue pressure on the leaders thus undermine the dialogue,” the NLC President said.

“We call on the federal government to immediately instruct the NNPC to withdraw this vexatious Pricing template to allow free flow of discussions by the parties. Nigerians would not accept any manipulations of any kind from any of the parties especially from the representatives of the Government.

“Our commitment to this process is buoyed on the fact that all the parties would be committed to ensuring that it is carried out within the ambits of liberty without undue pressure.

“The release of that Template may not allow us to continue if nothing is done to withdraw it so that the dialogue can continue unhindered. It is clear that Government is actually trying to scuttle the process.”

See the full statement below:

PRESS RELEASE

31ST OF MAY, 2023

THAT NNPC PRICING TEMPLATE IS VEXATIOUS AND AN AMBUSH: THE DIALOGUE IS IN DANGER

We are worried that the Government through the NNPC despite the ongoing meeting of Stakeholders in the oil and Gas sector to manage the unilateral but unfortunate announcement by the President to withdraw subsidy on petroleum products, went ahead this morning to announce a new regime of prices under a new pricing template.

This is an ambush and runs against the spirit and principles of Social Dialogue which remains the best platform available for the resolution of all the issues arising out of the petroleum Down-stream sector.

Government cannot in one breathe be talking about deregulation and at the same time fixing the prices of Petroleum products. This negates the spirit of allowing the operation of the free market unless the government has as usual usurped, captured or become Market forces.

It is therefore unacceptable and we seriously condemn it. Good faith negotiation is key to reaching agreement. What the government has done is like holding a gun to the head of Nigerian people and bring undue pressure on the leaders thus undermine the dialogue.

We call on the federal government to immediately instruct the NNPC to withdraw this vexatious Pricing template to allow free flow of discussions by the parties. Nigerians would not accept any manipulations of any kind from any of the parties especially from the representatives of the Government.

Our commitment to this process is buoyed on the fact that all the parties would be committed to ensuring that it is carried out within the ambits of liberty without undue pressure. The release of that Template may not allow us to continue if nothing is done to withdraw it so that the dialogue can continue unhindered. It is clear that Government is actually trying to scuttle the process.

As it stands, the federal government has become fixated on their chosen course of action. Would this help this dialogue? It clearly will not. There must be flexibility to allow concessions and reasonable accommodation that will produce the best result for Nigerian people. This is what we all seek at this time.

Comrade Joe Ajaero

President

NIGERIA LABOUR CONGRESS (NLC)

NATIONAL HEADQUARTERS

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Google Adds 8 More Countries To Flood Alerts

June 1, 2023

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Eight new nations in Africa have been added to Google’s Flood Hub program, which has now been made available in 80 countries worldwide.

There are currently 23 African nations on the Flood Hub. This growth is a result of efforts to address the destructive effects of floods and offer vital assistance to vulnerable areas, efforts made possible by AI. A population of 460 million people worldwide now has access to forecasts up to 7 days in advance thanks to the Flood Hub platform. With this growth, Flood Hub’s beneficial services are now available in more nations, including Brazil, Nigeria, Pakistan, and Thailand.

Before this expansion, the Flood Hub platform was accessible in a number of African nations, including Angola, Burkina Faso, Cameroon, Chad, Democratic Republic of the Congo, Ghana, Guinea, Ivory Coast, Liberia, Malawi, Namibia, Nigeria, Sierra Leone, South Sudan, and South Africa. With this expansion, the platform is now accessible in 60 more nations.

Burundi, Eswatini, Guinea Bissau, Lesotho, Madagascar, Rwanda, Senegal, and Zimbabwe are among these new nations. By including these nations, Flood Hub can provide accurate and timely flood forecasting services to a wider variety of African communities that face high flood risk and extreme weather events.

Each year, floods around the world kill tens of thousands of lives and result in billions of dollars in damages. In low-resource areas, where there are frequently ineffective early warning systems, their effects are more severe. Flood Hub encourages communities to take preventive actions and make wise decisions to lessen the devastating consequences of floods by providing governments, humanitarian organizations, and individuals with cutting-edge flood forecasting tools.

Google is expanding flood alerts through search and maps notifications to further improve flood preparedness, ensuring that people have easy access to crucial and timely flood information. More individuals will be given the ability to take the required safeguards and protect lives and property thanks to this increase.

“We recognize the significant impact that floods have on communities worldwide, especially in regions with limited resources and vulnerable populations,” said Yossi Mattias, VP of Engineering and Research and Lead for Crisis Response at Google.

In order to assist these communities and offer precise flood predictions that can help save lives and safeguard livelihoods, we are committed to extending the scope of the Flood Hub platform.

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Tinubu, INEC Rejects Atiku’s BVAS Exhibits

June 1, 2023

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The Peoples Democratic Party and its presidential candidate, Atiku Abubakar, submitted 337 documents to the Presidential Election Petitions Court in Abuja on Wednesday, disputing the declaration of President Bola Tinubu as the victor of the February 25 presidential election.

The PDP and Atiku informed the court at the resumed hearing in the case that the documents in evidence related to 33 states of the federation, with the exception of Kaduna, Kano, Katsina, and Lagos states. Their legal team was lead by Chief Chris Uche (SAN).

The results of the presidential elections in the states of Abia, Bayelsa, Kaduna, and Ogun were among the documents that Atiku presented to the court.

The petitioners informed the court that INEC had downloaded the certified results, which were included in Forms EC8A, from its I-Rev webpage.

However, the petition’s respondents raised a dispute about whether the Certified True Copies of the papers submitted to the court should be allowed to be admitted into evidence.

In their final written addresses, they promised to explain their objections.

Through a group of attorneys led by Chief Wole Olanikpekun (SAN), Tinubu objected to the disclosure of data that the petitioners claimed was taken from the Bimodal Voter Accreditation System equipment used to conduct the 2023 presidential election.

Additionally, the Independent National Electoral Commission stated that while it disagreed with the documents’ admissibility, it agreed with the printout of data from the BVAS it had deployed to Kogi, Sokoto, and Rivers.

Additionally, the Independent National Electoral Commission stated that while it disagreed with the documents’ eligibility, it agreed with the printout of data from the BVAS it had deployed to Kogi, Sokoto, and Rivers.

Similarly to this, the APC objected to the documents presented as evidence. Along with other respondents, INEC’s legal team, led by Kemi Pinhero, SAN, objected to the download results’ acceptability.

However, the five-man panel of the PEPC headed by Justice Haruna Tsammani admitted the documents and marked them as Exhibits PT 1 to PT 33. A total of 337 exhibits from the PDP and Atiku were submitted.

The hearing of the petition filed by the Labour Party and its candidate, Peter Obi, against Tinubu was earlier that day deferred by the tribunal till June 1.

The LP legal team, lead by Chief Awa Kalu (SAN), requested the adjournment and notified the court that two important team members were unable to attend due to illness.

“My Lords, we had planned to begin today’s proceedings with the presentation of our documents, but regrettably, we had some unexpected development,” Kalu stated.

“The sudden illness of two of our key employees is the unexpected development, so I feel compelled to ask for a postponement until tomorrow (Thursday).”

“We submit our submission with the utmost humility and regret, We will be here tomorrow morning and we will move forward with vigor, I guarantee My Lords”.

The application was approved and postponed the petition until today, Thursday.

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Nigeria’s SDG Funding Gap Reaches $10bn Annually- UN

June 1, 2023

According to the United Nations, Nigeria now needs to raise $10 billion annually to fulfill the Sustainable Development Goals. Global goals known as SDGs seek to change the world. They serve as a call to action to eradicate poverty and injustice, safeguard the environment, and guarantee that everyone can live in peace, justice, and prosperity.

Mohamed Yahya, the United Nations Development Programme’s resident representative in Nigeria, said that around 410 billion dollars will be needed yearly to close the SDG gap in Nigeria.

He disclosed this at the high-level steering committee meeting of the Integrated National Financing Framework for the SDGs, according to a statement issued in Abuja on Wednesday by the Office of the Senior Special Assistant to the President on Sustainable Development Goals.

He said, “The financing constraint amid development challenges call for a coordinated approach to financing for SDGs and national development priorities.

“Nigeria has a funding gap of $10bn per year to meet the SDGs. Hence, more integrated financing policy solutions and reforms are thus needed to ensure resilient, inclusive, and sustainable growth in Nigeria.”

The statement stated that the Ministry of Finance, Budget and National Planning, and the Office of the Senior Special Assistant to the President on Sustainable Development Goals, was being joined by the European Union and the United Nations Office in Nigeria to advocate for a specialised fund to accelerate the SDGs implementation in the country.

It said the fund would be operated as part of the Integrated National Financing Framework, adding that the Nigeria Integrated National Financing Framework was officially inaugurated by former President Muhammadu Buhari on the side-lines of the 77th Session of the UN General Assembly held in New York, in September 2022.

According to the SDGs office, the inauguration saw Nigeria becoming a pioneer country to launch an INFF, a planning and delivery tool for financing sustainable development.

It stated that the INFF fund proposal, aimed at helping ensure sustainability, was presented to members for buy-in during the high-level meeting recently.

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WABOTAN Applaud Tinubu For Eliminating Subsidies

June 1, 2023

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The Waterfront Boat Owners and Transporters (WABOTAN) Association, which represents boat operators, has praised President Bola Tinubu for eliminating the fuel subsidy.

In his inaugural address on Monday in Abuja, Tinubu had promised that his administration will stop providing gasoline subsidies.
In response, Babatope Fajemirokun, President of WABOTAN, described the action as a bitter pill required for the nation’s recovery in a conversation with journalists in Lagos.

“Sometimes you have to take a bitter pill to get better; this subsidy elimination has been one of those instances. We regard this government as open and receptive. We want them to mention any palliatives that are required to lessen the impact. For a very long time, some Nigerians have demanded that subsidies be eliminated. Some others have even called it a hoax. We will adapt to it, thus it is a welcome notion. As boat operators, we don’t believe that this would suffocate everyone, he said.

According to Fajemirokun, Tinubu was the only Nigerian president who recognized the value of the maritime industry to the nation’s GDP.

However, he advised the governor of Lagos State, Babajide Sanwo-Olu, to take into account giving WABOTAN control of the recently inaugurated jetties spread throughout the state in order to manage them for optimum efficiency.

In a comparable manner, WABOTAN’s public relations officer, Raymond Gold, stated that the organization was demanding the Lagos State Government’s management and control of the recently commissioned jetties as a concession.

Remember that the Ijegun-Egba Jetty, the Ilashe Jetty in Amuwo-Odofin, the Isalu-Ajido Jetty, and the Marina Badagry Jetty were recently given their official commissions by Governor Sanwo-Olu.

We support the Lagos State Government in constructing these jetties, he declared. Safer waters are encouraged if there are strong jetties.

Furthermore, it enhanced the way the area where they are constructed looked and felt.

We at WABOTAN believe we have a significant stake in how these jetties are managed.

Naira Drops As Banks Give Update on Tax Clearance For FX Demand

BREAKING: CBN Devalues Naira To ₦630 Per $1

June 1, 2023

The Central Bank of Nigeria, CBN, has reportedly devalued the naira, and the local currency is now trading ₦630 Per $1 from N461.6 it sold at the Importers and Exporters (I&E) window the previous day.

Daily Trust reports that at the resumption of the weekly bidding for foreign exchange, the apex bank sold the spot rate to banks on behalf of their customers at N631 to a dollar and most bidders got the full amount they requested.

One of the customers was quoted as saying that they applied and that their request was fully granted at N631 as against N461.6.

The move has also seen prices at the parallel market trend downwards. Checks by this paper revealed that prices dropped from N750 to a dollar in the early hours of yesterday to N745 by evening in Abuja and Kano respectively.

The naira weakened in the parallel market to the lowest level in a year on expectations of a possible change in exchange rate management after Tinubu takes office on Monday, May 29, 2023.

The naira dropped to N762 a dollar on Friday from 775 the previous day in the unauthorized market in Lagos, said Umar Salisu, a BDC operator who tracks the data in the nation’s commercial capital.

The unit has weakened steadily in the parallel market since last week after stabilizing for most of this year.

The market arbitrage (difference between the official and parallel markets) has widened in the past three years from N100 per dollar or about 30 per cent in 2020 to over N400 per dollar (above 100 per cent) sometime last year when the black market rate spiked to N880/$.

BizWatch Nigeria understands that the devaluation came 48 hours after President Bola Ahmed Tinubu announced the plans of the federal government to unify the country’s exchange rate to stimulate the economy.

In his inaugural speech, minutes after he was inaugurated as the 16th president of the country, Tinubu said, “Monetary policy needs a thorough house cleaning. The Central Bank must work towards a unified exchange rate. This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.”

Dollar To Naira Exchange Rate Today (Thur. Jun. 1, 2023)

June 1, 2023

Dollar to naira, on Thursday, June 1, 2023, opened at (undisclosed) at the Investors & Exporters FX window ( I&E FX Window), where the currencies officially trade.

According to the data at the FMDQ Security Exchange where forex is traded officially, the dollar to naira exchange rate stood at (undisclosed).

This would mean that the Nigerian currency either gained or lose in value against the United States dollar, as the foreign exchange (forex) trading closed at N461 per $1 on Tuesday, May 30.

How much is the dollar to naira at the black market today?

Going by sources at the Bureau De Change (BDC) in Lagos, the dollar to naira last traded between ₦750 and ₦760 with an average of ₦755.00 in the black market in the state.

It is, however, pertinent to note that the Central Bank of Nigeria (CBN) does not recognise the parallel market (black market), as it has directed individuals who want to engage in forex to approach their respective banks

The Cream Of The Crop: 7 Delightful Foods Made with Milk

June 1, 2023

Since ancient times, milk, a versatile and healthy food, has been a mainstay in kitchens all around the world. Milk not only contains a wealth of vital nutrients, but it also forms the foundation of innumerable delicious recipes.

Table of Contents

Milk’s creamy richness improves the flavor and texture of a variety of culinary masterpieces, from breakfast to dessert. In celebration of this years World Milk Day, Bizwatch Nigeria is proud to present to you the best seven delicacies that can be prepared using milk, displaying all of its diversity and delectable potential.

1. Creamy Scrambled Eggs

With the silky delight of creamy scrambled eggs, start your day off right. You may make your beaten eggs fluffier and more flavorful by drizzling a little milk over them. Eggs that are soft, supple, and immensely gratifying are produced as a consequence of the milk’s assistance in preserving the moisture of the eggs while cooking.

2. Homemade Yogurt

Making your own yogurt at home is not only a delicious culinary experience, but it’s also a great way to take advantage of milk’s nutritional advantages. Two fundamental elements are needed to make yogurt: milk and living bacterial cultures. Milk becomes sour and probiotic-rich by being heated and fermented by natural bacteria; it is ideal for breakfast, smoothies, and as the foundation for savory sauces.

3. Creamy Mashed Potatoes

Few foods can compare to the creamy richness of mashed potatoes when it comes to comfort food. You can give your mashed potatoes a silky-smooth texture and a tinge of subdued sweetness by adding warm milk to the mixture. The potatoes get richer and more delectable as a result of the milk’s addition.

4. Homemade Paneer

It just takes two components to make paneer, a famous Indian cheese: milk and vinegar or lemon juice. After adding the acidic substance and heating the milk, the milk begins to curdle. A solid and adaptable cheese is made by pressing the curds after they have been removed from the whey. Paneer may be used as a vegetarian substitute in sandwiches and wraps as well as in a variety of Indian meals including curries and kebabs.

5. Creamy Tomato Soup

When milk is used, tomato soup is transformed into a decadent feast. A pleasing harmony of tastes is produced by the addition of milk, which gives the dish a velvety texture and reduces the acidity of the tomatoes. A grilled cheese sandwich and the richness of the soup make for a traditional and cozy lunch.

6. Rice Pudding

Rice pudding is the best dessert in existence. Rice, milk, sugar, and a sprinkling of flavorful spices like cinnamon and nutmeg are combined to create this creamy mixture. Rice is cooked gently in milk, which gives it a wonderful creaminess and a subtle sweetness. Rice pudding is a comforting dessert that never fails to please, whether it is served warm or cooled.

7. Creamy Alfredo Pasta

The silky sauce of the popular Italian dish Alfredo pasta is made with milk. The ingredients for this decadent pasta sauce include butter, garlic, Parmesan cheese, and milk. The milk enhances the sauce’s smoothness and richness, covering the pasta in a decadent layer that melts in your mouth.

From breakfast to dinner, salty to sweet, milk demonstrates its adaptability in the kitchen. Milk is essential in taking many foods to new levels of taste and decadence, whether it’s improving the texture of scrambled eggs or giving creamy desserts more richness. The following are the top seven dishes that can be prepared using milk, so the next time you go for a carton, consider the countless options it offers.

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Ikeja Electric, Sahara Group Foundation Build Travelers’ Lodge For Ipaja Police Divisional Headquarters

June 1, 2023

Nigeria’s leading Electricity Distribution Company, Ikeja Electric Plc (IE) has built and commissioned a brand-new travelers lodge for police officers in transit, at the Ipaja Police Divisional Headquarters, Alagolo, Lagos state.

The project, which was executed through Sahara Group Foundation, the corporate social sustainability vehicle for the Sahara Group, is in line with IE’s commitment to impacting the environment where she operates through sustainable interventions that helps to make a positive difference in the society.

Speaking at the commissioning ceremony, Folake Soetan, Chief Executive Officer of Ikeja Electric said “the new traveler’s lodge would help to boost the morale of the Police officers in the station. Therefore, promoting efficiency, as well as an enabling environment for them.”

She also reinforced Ikeja Electric commitment to supporting sustainable development across its host communities and environs through projects like this. Contributing to improved wellbeing for all.

The Ipaja Police Station travelers’ lodge features a range of facilities and amenities, including a two- room hostel block with lavatory and kitchen fittings, overhead tank for water supply, wardrobes, reading tables and chairs.

Also speaking at the commissioning event, Ejiro Gray, Director, Sahara Group Foundation, said “the decision to build this traveler’s lodge was an easy one, as it helps to reflect the Foundation’s commitment to supporting improved security across communities, in ways that enhance the efficiency of the police force thereby promoting sustainable societies”.

Gray also thanked the officers of the Ipaja Police Divisional Headquarters, Alagolo, for providing adequate support during the construction of the lodge, stating that the importance of collaboration cannot be overstated if we are to improve security in our society.

In his remarks, the Deputy Commissioner of Police, Lagos state, DCP Ewah Bassey, thanked both Ikeja Electric and the Sahara Group Foundation for the traveler’s lodge. He also endorsed the message of collaboration, stating that “achieving effective policing is a collective responsibility.”

DCP Bassey urged the Ipaja Police Station officers to make effective use of the facility and said it would go a long way to boosting the effort of the police officers in safeguarding lives and properties.

Also speaking at the event was the Oba of Ipaja, Oba Kolawole Ajani Egundupe. He commended Ikeja Electric and Sahara Group Foundation for this laudable project, stating that it would go a long way to promoting safety in the community. He also thanked the officers of the Ipaja Police Divisional Headquarters for their commitment towards safeguarding lives and properties in the community.

Ikeja Electric and Sahara Group Foundation, through strategic initiatives such as this, remain fully committed to impacting lives and livelihoods across communities.

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BizWatch Nigeria’s Editor, Others Selected For MTN’s Media Innovation Programme

June 1, 2023

BizWatch Nigeria's Editor, Others Selected For MTN MIP2

MTN Nigeria, in collaboration with the School of Media and Communications at Pan-Atlantic University, Lagos, has selected 20 Nigerian journalists including BizWatch Nigeria‘s editor, Oputah David for the Media Innovation Programme (MIP).

The 20 selected fellows were chosen from a pool of over 2,700 candidates.

The MTN MIP aims to expose fellows and equip media professionals with the knowledge they need to revolutionize their industry. The fellows will have a better grasp of Nigeria’s technology sector and the relationship between media and technology after six months of training.

They will also be part of an exclusive network of professionals who will have access to resources and mentorship from SMC’s illustrious professors.

Tobechukwu Okigbo, Chief Corporate Services Officer, MTN Nigeria while congratulating the selected candidates said, “Congratulations to the fellows! The world is constantly changing, and media practice has been altered with advancements in technology.

“The modern media practitioner needs to remain innovative, which is the essence of the MIP. We have seen the impact of the programme among media practitioners and are motivated by the value this cohort will bring to media practice in Nigeria.”

The fully-funded program comprises a certificate fellowship as well as a study visit to the University of Witwatersrand in South Africa and the MTN Group Headquarters.

Below is the list of the selected candidates for MTN’s MIP 2

David Michael Oputah, Managing Editor, BizWatch Nigeria Limited
Abbas Jimoh, Assistant Editor, Media Trust Group (Daily Trust Newspapers)
Abdulrasheed Hussain, News Editor, Premier Radio 102.7 FM, Kano
Adediran Olufemi Adeleke, Correspondent, New Telegraph Newspaper
Anuoluwapo Temitope Odubanjo, Founder/Content Writer
Ayomide Oguntimehin, Chief Editor FabWoman Nigeria
Babajide Awoyinfa, Principal Correspondent, News Agency of Nigeria (NAN)
Basit Jamiu, Human Interest and Diaspora News Editor, Legit Nigeria
Chinedu Chidi, Editor, Special Projects, Ripples Nigeria
Chinenye Francisca Anuforo, ICT Correspondent, The Sun Newspapers
Efunnuga Oluwaseun Yemisi, Marketing and Content Associate, Pulse Nigeria
Elizabeth Modupeoluwa Musa, TV Producer/Presenter, News Central Television
Emmanuel Erhunwhunse Paul, Managing Editor, TechPoint
Ezinne Glory Alozie, Reporter/Editor/News Producer, Darling 107.3FM
Frank Eleanya, Head of Technology Desk, Business Day
Okonji Emmanuel, ICT Editor, ThisDay Newspapers
Okoye Ukamaka Perpetua, West Africa Correspondent, Deutsche Welle (DW)
Todah Opeyemi, Senior Editor, Zikoko Citizen
Victor Ogunyinka, Managing Editor, Online, Nigerian Tribune
Victory Wilson Chinedum, Newscaster, TV Presenter & Producer, Silverbird Television.

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BBNaija Scores Its First-Ever Certificate Of Excellence At The SABRE Africa Awards

June 1, 2023

The world’s biggest Big Brother franchise and Africa’s most popular reality TV show, Big Brother Naija, received a certificate of excellence at the 2023 SABRE Awards Africa in the Integrated Marketing category. This win comes after a successful debut season of the recently concluded Big Brother Titans and a SABRE EMEA 2023 nomination.

Big Brother Naija, and by extension, MultiChoice Nigeria, is one of four other major entertainment companies awarded this season, albeit in different categories. While MultiChoice and Warner Bros received ‘Certificates of Excellence’ for Integrated Marketing, Disney and Prime Video also picked up certificates in other categories.

The 2023 SABRE Africa Awards, which was held as part of the 2023 African Public Relations Conference in Lusaka, Zambia, is organised by PRovoke Media. The SABRE Africa Awards is a prestigious award recognising excellence in strategic branding, reputation management, and public relations across the African continent. Winning a Certificate of Excellence at this award is a significant organisational achievement.

Executive Head of Content and West Africa Channels, MultiChoice, Dr Busola Tejumola, said, “This certificate of excellence comes just a few months after Big Brother Naija scored a nomination at the SABRE Awards EMEA. Receiving this nod at the SABRE Awards Africa for Integrated Marketing is a testament to the pop-culture significance of Big Brother Naija and the work of our partner PR agency, ID Africa. It indicates that we are excellently creating brand awareness, building brand loyalty, and engaging with the show’s target audience. We continue to take great pride in the phenomenon we have created with the BBNaija show.”

Big Brother Naija is a popular reality TV show in Nigeria that has gained a massive following. The show has captured audiences’ attention across Africa, especially the younger generation, through its unique blend of entertainment, drama, and reality television. It has become a cultural phenomenon that shapes popular culture and influences social norms.

53% of respondents from the 2021 Plaqad BBNaija report believe that it is a more reliable route to success than a university degree. The seventh edition of the show gulped over 4.7 billion Naira in production cost and employed 1200 people directly and indirectly. The campaign broke all former records, garnering over a billion votes, over 40,000 audition entries, and 99.2% earned media.

The show continues to provide a platform for Nigerians to express themselves and showcase their talents. Many housemates have pursued successful careers in entertainment, fashion, and other industries, thanks to the exposure they received on the show.

Big Brother Naija Pepper Dem winner, Mercy Eke, recounted how being a part of BBNaija changed the trajectory of her life in the ID Africa-produced documentary, BBNaija: The Fame, The Fans, The Frenzy. “The show has changed my life. Look at me. If I’m not exaggerating, I represent at least 15 prestigious brands across Nigeria. The show has turned my life around. It has given me a platform to touch lives and to inspire people”, she stated in the documentary.

ID Africa, a BHM company, has overseen public relations for Big Brother Naija since 2019. The pan-African communications advisory firm also produced the show’s first-ever documentary and has worked on two seasonal reports alongside the sister company, Plaqad. This is the reality show’s first SABRE Africa Awards Certificate of Excellence.

The 2023 SABRE Africa Awards ceremony was held on May 18, 2023, as part of the 2023 African Public Relations Conference in Lusaka, Zambia.

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