The year kicked off excitedly for MTN users, especially with the unveiling of the MTN Prestige Lounge at the Murtala Muhammed International Airport in February 2023.
Following the launch of the Prestige Club in January 2017 by ICT giant, MTN Nigeria, members of the club have enjoyed a bouquet of mouth-watering benefits that have left others wondering how they can earn their prestige membership badge.
These benefits include airtime and data gifting on customers’ anniversary on the MTN network, priority access at MTN Walk-in and call centres, and access to exclusive discounts from high-end stores and businesses via the myMTN NG App, amongst other benefits.
Prestige (Gold, Platinum, and Y’ello) members equally have access to the world-class MTN Prestige Lounge while Silver members have one-time access. Located at the E-Wing of the Murtala Muhammed International Airport, the state-of-the-art Lounge gives guests access to ultra-high-speed internet (MTN 5G), exquisite meals and snacks, full bar & premium dining options, play areas for kids, in-house restrooms, workstations, live boarding updates, resolution of roaming, and any related customer issues.
Prestige Members can access and dine in the Lounge at no cost. Furthermore, Platinum and Y’ello Prestige Members are allowed to bring two guests to the Lounge, however Gold Prestige Members may only bring one guest.
For MTN users, checking your membership status is easy peasy. You can verify your membership status through the myMTN NG App. To upgrade or earn a Prestige membership, customers must have purchased airtime worth N360,000.00 (Three Hundred and Sixty Thousand Naira) on their MTN line.
There you have it. Take the opportunity to check or upgrade your MTN membership status today to enjoy these benefits.
In a groundbreaking move to enhance the driving conditions for the ride-hailing community, inDrive, a global leader in mobility and urban services headquartered in California, USA, has generously distributed high-quality car seat covers across Africa.
This initiative, representing an investment surpassing 282 Million Nigerian Naira, highlights the company’s steadfast dedication to the drivers and passengers.
Nigeria being a crucial market for inDrive, has seen extensive distributions in Lagos. The local driver community has greeted this initiative with much enthusiasm, acknowledging the step as a significant booster to the comfort and aesthetics of their vehicles, which plays a pivotal role in enhancing passenger experiences
“Our aim is not only to deliver a mobility platform but also to guarantee that every ride undertaken ensures comfort and safety for both drivers and passengers,” remarked Timothy Oladimeji, Business Development, inDrive, Nigeria. “Africa, with Nigeria especially, remains integral to our growth story. Our ongoing investments here are testament to how much we value and support our partners.”
As ride-hailing continues to gain prominence in the gig economy, especially within African urban hubs like Lagos, initiatives like this from inDrive have a cascading effect. They not only boost passenger trust but also uplift the brand’s overall perception and offer tangible aid to drivers, a significant portion of whom use their personal vehicles for their profession.
This venture is merely one among the numerous strides inDrive is making to deepen its roots in Africa, fostering a win-win relationship with its driver-partners. The company is enthusiastic about expanding its presence across the continent, ensuring urban mobility remains fluid for everyone.
InDrive’s commitment to its drivers is unparalleled, boasting the lowest commissions in the sector. Such endeavors, coupled with the Safety Pact, put a spotlight on the firm’s unwavering commitment to both its drivers and passengers, ensuring they always feel treasured and safeguarded.
The African Union (AU) said on Tuesday that it has suspended Niger Republic until civilian authority was restored and that it would consider the ramifications of any armed action in the troubled Sahel nation.
Following sharp disagreements, the Peace and Security Council “requests the AU Commission to undertake an assessment of the economic, social, and security implications of deploying a standby force in Niger and report back to Council,” the group said.
ECOWAS
At the Aso Villa on Tuesday, President Bola Tinubu met with the President of the Economic Community of West African States (ECOWAS) Commission, Omar Touray, and former Head of State, Abdulsalami Abubakar.
The President’s National Security Adviser (NSA), Nuhu Ribadu, was also present for the meeting to discuss the coup in neighboring Niger Republic.
Over the weekend, Abdulsalami led an ECOWAS mission to Niger for “final” talks aimed at restoring power to deposed President Mohamed Bazoum.
In his capacity as ECOWAS chairperson, Abdulsalami briefed Tinubu on the details of the meeting with the junta leaders.
Following his discussion with Tinubu on Tuesday, the ambassador expressed hope that diplomacy will help address the political crisis in Niger Republic without resorting to military force.
The sessions in Niger Republic, according to Abdulsalami, were beneficial.
Abdourahamane Tiani, the coup leader, stated that the junta would return to civilian power within three years, but ECOWAS opposed the idea.
On July 26, army soldiers deposed Bazoum, causing the West African regional body ECOWAS to threaten to use force to restore him.
As a last resort, ECOWAS agreed to activate a “standby force” to restore democracy in Niger.
It has stated that it is prepared to act, even as it pursues diplomatic solutions.
The coup has heightened international concern about the Sahel, which is experiencing an increase in jihadist insurgencies linked to Al-Qaeda and the Islamic State organization.
The scholarship program announced that applications for the 2024/2025 academic year would be accepted until November 7, 2023.
It is the UK government’s international leadership development initiative.
The Foreign, Commonwealth, and Development Office (FCO) and associated organizations are funding the scholarships.
They provide financial assistance to individuals pursuing a master’s degree at any UK university.
It includes tuition, travel, a monthly stipend, and other benefits.
Eligibility
To be eligible for a Chevening scholarship, you must be a citizen of a Chevening-qualified nation or territory and commit to returning to your home country for at least two years after your award has expired.
By the time you submit your application, you should have finished your undergraduate degree and all of the prerequisites for admission to a postgraduate programme at a UK university.
Applicants must have at least two years of work experience (equal to 2,800 hours), have applied to three different universities in the UK (authorized by the program), and have obtained an offer letter from at least one of them.
Successful applicants will grow professionally and academically, network widely, learn about UK culture, and form long-term beneficial relationships with the UK.
How to apply
To apply for the full scholarship visit the Chevening Scholarships website to understand the terms, how to apply and the requirements.
According to the Central Bank of Nigeria (CBN), it spent N29.65 billion on currency issue costs in 2022, up 94.66% from the N15.23 billion it spent in 2021.
The CBN spent 40.42 percent more on currency rollout than it did on N53.29 billion the year before, according to the latest publication of the apex’s bank financial accounts. This is true notwithstanding the naira shortage that gripped the nation in the last months of 2022.
Defining currency issue expenses, the bank said, “Currency issue expenses relates to expenses incurred in relation to the printing, processing, distribution, and disposal of currency notes. This is recognised at cost when incurred.”
The cost of sale, which is the amount spent by one of the subsidiaries (in this case, the Nigerian Security Printing and Minting Plc) to produce currency notes and coins, was N45.19 billion in 2022, up 18.72% from N38.07 billion in 2021.
The statement said, “They include cost of raw materials, employee benefit expenses relating to production staff, electricity and diesel expenses, depreciation, and repairs and maintenance.”
The total amount in circulation fell from N3.32 trillion in 2021 to N3.01 trillion in 2022, a 9.47% decrease. According to statistics, the entire expense for producing bank notes in 2020 was N58.62 billion, a 28.83 percent drop from the N75.52 billion that was reported in 2019.
In October 2022, the suspended Governor of the CBN, Godwin Emefiele, announced that the bank would release re-designed naira notes by December 15, 2022, and certain denominations of the existing notes would cease to be legal tender by January 31, 2023.
This move led to a cash crunch plague that lasted for months and negatively affected the economy.
On Tuesday, the price of crude oil continued to fall as investors worried about a slowdown in China’s economic expansion and anticipated further US interest rate increases. Benchmark Brent crude for international trading closed at $84.36 per barrel, down 0.12% from Monday’s closing price of $84.46 per barrel.
West Texas Intermediate (WTI), the American benchmark, was trading at the same time at $80.06 a barrel, down 0.07% from the session’s closing of $80.12 per barrel. As a result of output reductions from OPEC+ nations Saudi Arabia and Russia, tight global supply worries have kept oil prices trading at their highest levels this year.
However, demand concerns brought on by anxieties about a slowdown in China’s economic development and anticipations of more interest rate increases in the US dampened sentiment. The prospect of softer Chinese demand after a disappointing interest rate cut is putting pressure on oil prices.
China’s producer pricing index (PPI) dropped by 0.3% while the consumer price index (CPI) dropped by 4.4% last month. This was the first time since 2020 that both indices dropped at the same time, raising fears of deflation.
The prime rate for one-year loans was decreased by the People’s Bank of China (PBOC) on Monday from 3.55% to 3.45% while the rate for five-year loans remained constant. The potential of more rate increases in the US is also supporting the drop in oil prices.
Investors worry that rising US interest rates might potentially reduce demand for oil in the world’s top oil consumer as markets wait for additional indications on the US Federal Reserve’s (Fed) monetary policy.
Prior to the main market auction set for Wednesday by the Central Bank of Nigeria (CBN), the average yield on Nigerian Treasury Bills (NTB) slightly decreased to 8.4% at the beginning of the week.
The apex bank would use the primary and secondary markets to roll over maturing T-bills totaling N303.22 billion. 91-day bills worth N9.96 billion, 182-day bills worth N10.21 billion, and 364-day bills costing N283.04 billion will be included in the offer.
In an update, Cowry Research informed investors that it anticipates an increase in the stop rates for the 364-day treasury instrument due to anticipated pressure on the liquidity of the financial system.
Yesterday, the overnight lending rate expanded by 351 basis points to 23.3% as a result of significant funding pressure on the system. The repo rate declined by 2.31 percentage points to 22.50%. Traders said they envisage lower yields in the Treasury bills secondary market as the anticipated inflows into the financial system will likely fuel bargain hunting in bills.
In a market update, Cordros Capital told investors its analysts expect market focus to be shifted to the primary market auction holding on Wednesday. In the secondary market, the Treasury bill traded with mixed sentiments, albeit with a bullish tilt, as the average yield pared by 1 basis point to 8.4%.
Across the curve, traders said the average yield closed flat at the short and mid segments but contracted at the long (-1bp) end following mild interests on the 339 days to maturity (-1bp) bill. Similarly, the average yield pared by 1bp to 11.2% in the OMO bill segment.
In the past week, T-bills and OMO activities were subdued due to the absence of maturing bills. This further put pressure on liquidity as the deposit money banks were already facing funding pressure from bond auctions.
Following the revelation that the overall balance in the foreign reserves may have been over-rated, the value of the Nigerian naira declined on Monday. There have been suspicions that the CBN (Central Bank of Nigeria) falsified its financial records in 2022.
However, the real sum has not been agreed upon by either local or investment foreign financial business, and the monetary authorities remains silent.
The latest report from JP Morgan falls somewhere in the middle, estimating that the balance has likely fallen to $3.7 billion. CardinalStone Partners estimated net foreign exchange reserves settled at $17.4 billion, while Cordros Capital estimated the total balance in the country’s foreign exchange reserves was about $17 billion negative.
Never before have Nigerians and foreign stakeholders been so perplexed by statistics from the apex bank. Due to sporadic FX rate fluctuation in the official market, it is much simpler to estimate the Nigerian naira exchange following each daily gain. There appears to be a barrier level that the naira cannot cross at the current exchange rate of about N740 to the US dollar.
According to FMDQ statistics, the local currency declined from N739.52 to N761.32 in relation to the US dollar on Friday as a result of the apex bank’s ineffective defense against rising demand. As NNPC’s $3 billion loan from the African Import-Export Bank shone light on the dimming FX markets last week, the naira strengthened against the major foreign currency on the market.
MarketForces Africa also gathered that some International Oil Companies sold FX at the investors’ and exporters’ window in addition to the Central Bank of Nigeria’s support for the invisible sales.
Amidst pressures due to sustained scarcity of FX inflows into the economy, the apex bank also brought back the Bureau de Change into the currency market to reduce and monitor spurious demand while its capped FX spread for operators.
It is not however clear if the CBN would conduct weekly FX sales, which was the previous pattern before Godwin Emefiele, suspended governor of the apex bank, stopped BDCs operators alliance, citing terrorism financing and other infractions.
In the parallel market, the naira depreciated by 1.18% to N860 amidst question marks hanging over the true balance in Nigeria’s external reserves. Nigeria’s FX reserves stayed below $34 billion while JP Morgan’s estimate showed that total amount must have dropped to $3.7 billion in December 2022
Today, Brent crude fell 0.32% to $84.53 per barrel, while WTI crude gained 0.07% to $81.30 per barrel. Oil futures were slightly lower, as market participants weighed the implications of a less-than-expected PBOC 1-year LPR cut.
This cut, at 3.45%, was lower than the previous 3.55%. Elsewhere, gold was trading below $1,890 per ounce (-0.11%), influenced by higher US treasury yields and growing expectations of further policy rate hikes in advanced economies.
The Nigerian Exchange (NGX), which ended the previous week in the red, surged on Monday. New interest in the consumer products industry contributed to a #250 billion increase in market capitalization. The stock market began trading for the week after reversing a downward trend. Deal-seeking activity in BUAFOODS (+9.3%), one of the NGX market movers, maintained the upward trend.
Stock brokers observed a resurgence in interest among equity investors in growth firms including Dangote Sugar PLC and BUA Foods, which helped to fuel the trend. Trading activity for Transcorp increased, which increased the company’s stock price. After receiving a number of buy recommendations from Broadstreet analysts, WAPCO attracted interest from investors. Ahead of the results announcement, investors buy UBA stock.
The Nigerian Exchange All-Share Index increased by 0.7% to 65,202.41 points as a consequence of the positive activity. As a result, the year-to-date return increased and closed at 27.2%, which is still greater than the annual inflation rate of 24.08%. There were 5,494 transactions totaling 231.60 million units for N3.99 billion, a decline of 56.9% in the total volume transacted. The most actively traded stock by volume was TRANSCORP with 36.84 million units, while the most actively traded stock by value was MTNN with N1.45 billion.
Shares of BUAFOODS (+9.29%), TRANSCORP (+5.29%), DANGSUGAR (+2.86%), WAPCO (+0.73%), and UBA (+0.72%) were purchased by investors today at higher prices. Regarding industries, the Consumer Goods (+5.0%) and Insurance (+0.4%) indexes posted gains, while Oil & Gas (-0.7%) and Banking (-0.4%) had losses. The Industrial Goods Index is also closed flat.
As measured by market breadth, market sentiment was positive (2.1x), as 31 tickers gained relative to 15 losers. JOHNHOLT (+9.7%) and SCOA (+9.4%) recorded the most significant gains of the day, while TANTALIZER (-10.0%) and OMATEK (-9.1%) topped the losers’ list.
Overall, equities market capitalization rose by ₦250.00 billion, representing a growth of +0.71%, to close at ₦35,684.83 trillion from ₦35,435 last Friday In the forex market, the naira struggled to keep the previous week’s rally. The local currency depreciated by 2.9% to N761.32 at the Investors and Exporters FX Window due to weak supply side.
The House of Representatives Committee on HIV/AIDS, Tuberculosis, and Malaria Chairman, Rep. Amobi Ogah, requested the Federal Government to declare a state of emergency on malaria on Sunday in Abuja.
He made the accusation in a message he released to mark World Mosquito Day in 2023. The world observes World Mosquito Day on August 20. Fighting the Mosquito: The World’s Deadliest Killer is the topic for the 2023 remembrances.
Ogah declared that every effort must be made to exterminate the deadly mosquito because of the harm that malaria brings to humanity. In spite of the fact that malaria seemed to still defy treatment, he said, the committee was aware of the difficulties Nigerians were facing in the fight against the disease.
He stated also that the committee would work with relevant stakeholders to ensure that monies budgeted for the fight against malaria were judiciously used. “According to the WHO, four African countries accounted for more than half of malaria deaths worldwide.
“Nigeria tops this list with 31.3 per cent, followed by the Democratic Republic of the Congo with 12.6 per cent; Tanzania, 4.1 per cent and Niger, 3.9 per cent,’’ he stated.
Ogah stressed that there was a need to work toward malaria eradication by waging a serious war on the vector mosquito. He charged the Federal Government to give more attention to eradicating mosquitoes by engaging critical stakeholders in the health sector. He also decried the situation where, he stated, government was not paying attention to the vector mosquito.
Ogah reiterated the committee’s resolve to also tackle the prevalence of fake malaria medicines in the country to stave off further deaths.
Coca-Cola (brand value down 5% to USD33.5 billion) retains its title as the world’s most valuable non-alcoholic drinks brand, according to a new report from leading brand valuation consultancy, Brand Finance.
Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test, and publishes over 100 reports, ranking brands across all sectors and countries. The world’s top 25 most valuable and strongest non-alcoholic drinks brands are included in the annual Brand Finance Non-Alcoholic Drinks 25 2023 ranking.
Coca-Cola’s (brand value down 5% to USD33.5 billion) enduring brand value can be largely attributed to its global familiarity and reputation, bolstered by innovative product developments, large-scale marketing campaigns, and digital engagement.
Ahead of the FIFA World Cup in 2022, the brand launched its ‘Believing in Magic’ campaign, aiming to celebrate the shared passion and connection experienced by football fans and foster deeper consumer relationships. The brand also launched its digital engagement platform, the Coca-Cola Fan Zone. Approximately 5 million fans connected with the hub that was activated in 41 markets, further boosting the brand’s international exposure and prestige.
Savio D’Souza, Valuation Director at Brand Finance, commented: “With a rich history, iconic brand story, and a steadfast dedication to customer experience and satisfaction, Coca-Cola has remained a global leader.
“The brand continues to boost its international reputation and capture the loyalty of generations across the globe through ingenious and powerful marketing campaigns, product evolutions and innovative digital strategies.”
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in 38 countries and across 31 sectors.
Coca-Cola also maintains its position as the world’s strongest non-alcoholic drinks brand, with an AAA+ rating and a Brand Strength Index (BSI) score of 89.6/100. The giant continues to enjoy immense global recognition and popularity.
Its iconic brand narrative, logo, and memorable marketing campaigns, aimed at connecting with consumers on an emotional level and evoking nostalgic sentiments, have become deeply ingrained in popular culture and have fostered customer loyalty across the globe.
Energy drink brands hold onto top 10 ranks
Red Bull (brand value up 1% to USD7 billion) Monster (brand value up 8% to USD6.8 billion) and Gatorade (brand value down 7% to USD4.9 billion) maintain their top 10 ranks this year, with Red Bull ranking as the third-most valuable non-alcoholic drinks brand.
Energy drink consumption has continued to rise since the pandemic, with both adults and teens seeking energy drinks as convenient options to fuel busy and active lifestyles. Red Bull remains one of the world’s most recognisable drinks brands, with a unique brand identity, catchy slogan, and enormous global presence fuelled by its various sporting endorsements and sponsorships.
Nespresso is the fastest-growing non-alcoholic drinks brand
Nespresso’s (brand value up 208% to USD2.9 billion) brand value has increased enormously since the pandemic, when home coffee consumption surged as customers sought a premium experience at home. With its emphasis on quality and luxury, Nespresso became a popular choice.
The brand has continued to boost its premium perceptions and global reputation with its innovative range of coffee machine and capsule offerings, as well as its sustainability initiatives, winning an award in 2022 for its innovation efforts in promoting fairtrade coffee.
Coca-Cola has the highest Sustainability Perceptions Value, valued at USD4.6 billion
As part of its analysis, Brand Finance assesses the role that specific brand attributes play in driving overall brand value. One such attribute, growing rapidly in its significance, is sustainability. Brand Finance assesses how sustainable specific brands are perceived to be, represented by a ‘Sustainability Perceptions Score’. The value that is linked to sustainability perceptions, the ‘Sustainability Perceptions Value’, is then calculated for each brand.
Coca-Cola has the highest Sustainability Perceptions Value (SPV) at USD4.6 billion. It should be noted that the brand’s position at the top of the SPV table is not an assessment of its overall sustainability performance, but rather indicates how much brand value it has tied up in sustainability perceptions.
That said, Coca-Cola promotes an ambitious sustainability agenda, aiming to make 100% of its packaging recyclable globally by 2025 and use at least 50% recycled material by 2030. The company also aims to implement sustainable solutions throughout its value chain, aiming to reduce greenhouse gas emissions by 25% by 2030 and achieve net-zero carbon emissions by 2050.
Nigeria’s net foreign exchange (FX) reserves, according to an estimate by the American financial services company JP Morgan, are expected to fall to $3.7 billion by 2022. The $3.7 billion sum is much less than earlier predictions, according to the company’s most recent analysis, “Nigeria: Reform pause rather than fatigue,” because of larger-than-expected currency swaps and borrowing against existing reserves.
“Based on partial information from the audited financial accounts, we estimate that CBN’s net FX reserves were around US$3.7bn at the end of last year, from US$14.0bn at end-2021,” the report said.
The firm said it arrived at $3.7 billion by making some incorrect assumptions that would change the estimated figure.
“In arriving at said estimate we make a few assumptions which if incorrect would substantially change the picture. They include (i) addition of US$5.0bn in IMF Special Drawing Rights (SDR) to external reserves in order to arrive at total gross FX reserves of US$37.8bn, broadly in line with the 30-day moving average of US$37.08bn previously published on the central bank’s website,” the report further reads.
(ii) adjusting the gross external reserves with three key FX liability lines that include FX forwards (US$6.84bn), securities lending (US$5.5bn) and currency swaps (US$21.3bn); and (iii) estimating currency swaps by backing out FX forwards and outstanding OTC Futures balances from an overall aggregate published in the financial accounts.”
JP Morgan, however, said that although low net FX reserves mean continued FX market pressures, the CBN still has the ability to source FX at commercial and semi-commercial rates.
“Given the highly profitable nature of the currency swap arrangements between the CBN and domestic commercial banks, we expect these to continue for sometime, albeit in smaller sizes and arguably more punitive rates,’ the report adds.
“Furthermore, authorities are in the initial stages of identifying assets for sale, which may provide some medium-term relief. For example, the President’s policy advisory council has recommended the government sell down its stake in the most joint-venture oil and gas assets, a proposal that is estimated to bring in up to US$17bn.
“In addition, the recently announced US$3bn loan to NNPC could help partly improve FX liquidity conditions in the market. We expect NNPC to sell the dollars to CBN and remit the naira proceeds to the government as upfront payments for oil revenues and taxes. That being said, the large external financing needs of the private sector will sustain FX pressure.”
JP Morgan said it expected that headline inflation will still remain elevated, particularly due to higher food costs.
“We believe July’s inflation print is early evidence of the impact of the fiscal and FX reforms which are likely to continue pushing headline inflation higher over the coming months,” JP Morgan said in its report.
“Higher parallel market rates in recent weeks are also likely to have an impact on August’s inflation reading and will be most notable in higher food and core prices. The core inflation measure (excluding food and energy costs) rose by 20.5% in July, from 20.1% recorded in June. We now see headline inflation rising towards 28%oya by year-end.”
The firm said President Bola Tinubu’s decision to keep a cap on petrol prices is likely to provide some relief but the exchange rate is likely to remain on a depreciating path and put further pressure on prices.
Nyesom Wike, Minister of the Federal Capital Territory (FCT), has pledged to put an end to open grazing in Abuja, saying it can no longer be permitted.
Wike, a former Rivers State governor, made the remarks during a press conference in Abuja on Monday, just hours after being sworn in.
“We will consult with herdsmen to see how we can stop [open grazing] because we cannot allow cows inside the city,” he stated during the ceremony in Abuja’s Garki neighborhood.
“They can be outside of town because the grasses are outside of town. The grasses throughout the city were planted to improve the city’s appearance. That is not the one they would eat.
“So, we will discuss. It is important. Let us say it, you are trying inside the [Presidential] Villa for example, and you see about 20,000 to 40,000 goats, if foreigners see that, how would they feel?”
Wike has also threatened to demolish structures that were not built in accordance with the city’s master plan.
“All those people who are distorting the master plan of Abuja, too bad. If you know you have built where you’re not supposed to build, it will go down,” Wike added.
He also warned landowners who had taken over “the green areas” to build homes that those areas must be returned.
“If you despise green, you must despise yourself.” So, if you know you have someone involved who has taken over the green spaces or parks to the point where you now do restaurants, we will not tolerate it. “I’m sorry,” he apologized.
Wike also committed to address street dealing, claiming that it breeds insecurity.
“We are not going to tolerate the issue of everywhere is market. Yes, I know that things are difficult, but that doesn’t mean you should cause crises for other people. You are looking for what to put in your stomach, it must be done within the framework of the law,” the FCT minister said.
“In a city, people are selling with umbrellas under the trees. These things caused insecurity. We can not allow it.”
Kaduna State Governor Uba Sani said that his administration aims to employ 7,000 youths to help security forces tackle insecurity.
Kaduna, in Nigeria’s northwestern region, is dealing with banditry, kidnapping, and a slew of other security issues.
Governor Sani, who has been in office for nearly three months, said his government will engage youths in battling criminality as part of its efforts to stem the tide.
The governor, who has been a champion for state police since his days as a senator, stated that the recruitment process would begin soon.
Governor Sani said “Coming to Kaduna, I also revived the Kaduna State Vigilance Service.
“As we are speaking right now, in the next week, we are going to recruit at least 7,000 youths who are going to be running our Kaduna State Vigilance Service.”
According to the governor, the development was made necessary because “security agencies are lacking the boots” in their efforts to combat insecurity.
“And of course, they need the support of our local vigilance service. As of today, we have only 2,000 but we are recruiting another 7,000 to make them 9,000,” the former lawmaker explained.
“And I am happy both the commissioner of police, the director of DSS, and even the GOC here in Kaduna, are all involved in making sure that all our vigilance service is having adequate training. We are using the police college to train them and that is very key.”
Aside from that, he claimed that the state government is collaborating with various stakeholders, including religious organizations, to rid the state of criminals.
He also stated that negotiations are taking place with governors in the north to fine-tune methods of combating insecurity.
“As I am speaking with you, we are on the same page. We are trying our best to make sure we have a joint operation,” the governor said.
Nestlé (brand value up 8% to USD22.4 billion) once again earns the title of the world’s most valuable food brand, according to a new report from leading brand valuation consultancy, Brand Finance.
Nestlé’s brand value has steadily increased this year due to strong sales growth across its extensive and varied brand portfolio.
Every year, leading brand valuation consultancy Brand Finance puts 5,000 of the biggest brands to the test, and publishes over 100 reports, ranking brands across all sectors and countries. The world’s top 100 most valuable and strongest Food brands are included in the annual Brand Finance Food 100 2023 ranking.
Nestlé’s ability to meet evolving consumer preferences, stay ahead of trends, and effectively launch new products has been a driving force behind its continued brand value growth.
This year, Nestlé expanded its plant-based portfolio with the introduction of a new milk alternative, catering to an ever-increasing global demand for plant-based products. The brand also launched its first-ever Nescafé Ice Roast coffee, designed to satisfy rising consumer demand for iced coffee at home.
Savio D’Souza, Valuation Director at Brand Finance, commented: “As an iconic global brand, Nestlé continues to raise the bar, setting new benchmarks for the industry and inspiring trust among consumers worldwide.
“With a rich heritage and a portfolio of trusted brands, Nestlé has built a legacy of success and an unmatched global reputation, enhanced by its enduring dedication to creating a healthier and more sustainable future for all.”
Chinese dairy brand Yili is the second most-valuable food brand, valued at USD12.4 billion
Chinese dairy brand Yili (brand value up 17% to USD12.4 billion) retains its title as the world’s second-most valuable food brand. Yili has fostered strong customer loyalty in its local market by consistently delivering products of exceptional quality and perceived health benefits.
This has contributed to strong domestic sales growth, while the brand’s global presence has also propelled its overseas revenue. Yili products are available in over 60 countries across five continents worldwide.
Snack brands see strong brand value growth
The snack industry has continued to grow in brand value in the post-pandemic world, with this year’s top five snack brands (Lay’s, Doritos, Want Want, Cheetos and Tostitos) increasing their brand values by an impressive average of 40%. A notable performer is Lay’s (brand value up 29% to USD11.1 billion), which also retains third place position in the Food 100 ranking overall. With its rich history and global presence, Lay’s’ strong performance can be attributed to its innovation and product developments, popular and far-reaching marketing campaigns, and enhanced e-commerce strategies since the pandemic.
Healthy Choice is a fresh new entrant as this year’s fastest growing food brand
Healthy Choice, (brand value up 190% to USD1.2 billion) a frozen food brand owned by ConAgra Foods, is a new entrant in this year’s Food 100 ranking. As consumer demand for healthier options continues to increase following the pandemic, food brands are under increasing pressure to manufacture and promote more nutritious offerings.
Coupled with resilient demand for frozen foods, this trend has enormously benefitted the Healthy Choice brand, which strategically markets its products as nutrition-packed and convenient, while also offering a range of modern and delicious recipes.
Hershey holds onto title as the world’s strongest food brand, with an AAA+ rating
In addition to calculating brand value, Brand Finance also determines the relative strength of brands through a balanced scorecard of metrics evaluating marketing investment, stakeholder equity, and business performance. Compliant with ISO 20671, Brand Finance’s assessment of stakeholder equity incorporates original market research data from over 100,000 respondents in 38 countries and across 31 sectors.
Hershey (brand value up 12% to USD3.9 billion) reigns supreme as the world’s strongest food brand, building on last year’s success with an AAA+ rating and an impressive Brand Strength Index (BSI) score of 91/100.
Despite increased inflation rates, supply chain disruptions, and an extended period of global economic uncertainty, customer demand for Hershey products remains strong. As well as boosting its familiarity across the globe, the American confectionary giant continually seeks to adapt and extends its product portfolio and meet the needs of its enormous consumer base.
Nestlé has the highest Sustainability Perceptions Value at USD1.35 billion
This year’s most valuable food brand Nestlé also has the highest Sustainability Perceptions Value in the Food 100 2023 ranking, valued at USD1.35 billion. The Swiss giant’s ongoing commitment to environmental and social responsibility, responsible sourcing, and nutrition has contributed to its global perception as a sustainable company.
Nestlé’s position at the top of the SPV table is not an assessment of its overall sustainability performance, but rather indicates how much brand value it has tied up in sustainability perceptions. That said, the brand has made significant progress in its sustainability objectives.
For example, Nestlé is the first company to disclose the nutritional value of its entire global product portfolio, benchmarking against the Health Star Rating system.
The brand aims to lead the industry in providing delicious and balanced meals worldwide as part of it “Good for You” focus. The brand has also significantly reduced its greenhouse gas emissions and is reportedly on track to achieve 100% renewable electricity by 2025.
Christians gathered in eager expectation on a breezy Sunday evening at The Covenant Place in Iganmu, Lagos State, for a musical extravaganza that set their souls on fire “Limoblaze Live in Concert”.
The event which was the talk of the town held on the night of August 20, 2023 in Lagos State and it was organized by The Covenant Nation church, led and founded by Pastor Poju Oyemade.
The Covenant Place was converted into a hive of activity, with the enthusiasm obvious even before the first note rang out. The stage filled up with a flash of colors as the clock struck the hour, and the crowd shouted in applause as the main attraction, Limoblaze himself, took center stage.
Limoblaze thrilled the guests with his hit songs such as Jireh, Pull up, Desire, Put it on God and Gold.
The lineup was nothing short of extraordinary. The musical event also featured big gospel artists; Greatman Takit, Anendlessocean, Ibquake, Dj Horphuray and Angeloh.
Perhaps the most incredible feature of the evening was that this spectacular musical extravaganza was completely free of charge. This act of kindness underscored the concert’s goal: to promote optimism, elevate spirits, and foster a feeling of community through the global language of music.
As the sounds of “Limoblaze Live in Concert” resound, there’s no doubt that this event will live on in the minds of Lagosians for years to come. The combination of religion, music, and unity created a magnificent atmosphere, illustrating once again that music has the power to move souls and alter lives.
Limoblaze at the end of the show, took time to appreciate Pastor Poju for organizing such an amazing event which brought together hundreds of believers and afrogospel lovers in Nigeria for free.
Week 9 Pool Fixtures 2023 Released: Live Scores and Results
Discover the Week 9 Pool Fixtures 2023, including the pool results and fixtures, UK pool fixtures, football pools results, and more. Stay up-to-date with the latest pool fixtures for this week, as well as the coupon fixtures, Aussie pool fixtures, advance pool fixtures, and special advance fixtures. Get live score updates, pool panel results, and today’s pool results. Find all the Week 9 pool fixtures on Bizwatchnigeria.ng as soon as they are released by the FPA (Football Pools Authority).
POOL FIXTURES FOR THIS WEEK: 5; SEASON: AUSSIE 2023
Week 8 Pool Fixtures 2023 Released: Live Scores and Results
Discover the Week 8 Pool Fixtures 2023, including the pool results and fixtures, UK pool fixtures, football pools results, and more. Stay up-to-date with the latest pool fixtures for this week, as well as the coupon fixtures, Aussie pool fixtures, advance pool fixtures, and special advance fixtures. Get live score updates, pool panel results, and today’s pool results. Find all the Week 8 pool fixtures on Bizwatchnigeria.ng as soon as they are released by the FPA (Football Pools Authority).
WEEK: 8; SEASON: UK 2023/2024; DATE: 26-August-2023
Alternative work model, better known as hybrid work or remote work, is fast becoming essential to every business’ survival and continuity post COVID-19. The acceptance and sustainability of this model is corroborated by a Microsoft 2022 Work Trend Index Report which found that the new work model is still gaining traction as hybrid employees, representing 51% of the workforce, are considering a switch to remote work, while 57% of remote employees are considering a switch to hybrid working models in the years ahead.
In Nigeria, the emergence of remote, hybrid, and virtual work models have now become sustainable alternatives to the age-long in-office system. The trend is expected to gain more traction with the current economic realities occasioned by the removal of subsidy on fuel, as more and more employers and employees now see flexible models as the future of work, even though most businesses and lifestyles have returned to pre-pandemic status quo.
According to a Gallup Survey in June 2022, 8 in 10 people are working hybrid or remote, thus demonstrating the enormous pickup of this flexible workplace approach. This is further buttressed by FlexJobs.com’s Employee Engagement Report, showing 48% of companies are retaining some form of remote work for their workforce. 26% of survey respondents also opined that their employer would follow a hybrid model, and 22% said they’ll be allowed to work remotely when asked about their company’s post-pandemic workplace plans. So, whilst employees are keen on remote or hybrid work, institutions worldwide are now realising that positive job output is not dependent on being physically present in the office.
This paradigm shift to the new ways of work is again attested to by the ‘Africa: willingness to remote work by country 2020’ published by Statista earlier this year. The study reveals that 74% of Nigeria’s working population who participated in the survey would work remotely for an employer with no physical presence in their country. Interestingly, same goes for other employees across Africa, with Benin Republic at 82%, and Zambia and Cote d’Ivoire – each at 80%. In South Africa, 73% of the respondents were of the same opinion.
The public sector is not left out in this work shift as states like Edo, Kwara, and Kaduna have in addition to providing interventions to cushion the biting effects of the hike in cost of living hinged on increasing petrol prices, have declared flexible work models of three and four working days in a week for staff. The implication here is business continuity. Simple! Regardless, this can only be made possible with good deployment and application of digi-tech devices for seamless output.
At HP, this flexible work model typifies the way to work now. With a vision to create technology that makes life better for everyone, everywhere, HP is deepening the flexible work concept for more optimized productivity. All that is needed on the part of employees to make it work is to find a balance with working offsite full-time, while still maintaining and building relationships with customers, partners, teams, and ultimately, family. This is most significant, just as communication is important to keep relationships growing regardless of today’s realities which are now virtual.
So, in essence, technology has a huge role to play in the way we work going forward. It’s now a Zoom or Teams world. With an HP laptop, Poly headphones, a portable bouquet of flowers, sticky notes, and a clean and modest looking table – all preforming sundry critical functions for a fit-to-purpose and tranquil workspace, you are up for a new normal of work productivity.
Important hybrid work tips
First, due to the high number of virtual meetings, it is vital to make sure your meetings are short, fruitful and engaging. You must ensure you have an agenda that is simple and brief. Even more important, one must be attentive and meticulous if you’re to achieve your set objectives.
Secondly, hybrid work employees also have to find ways to balance their home-office routines. For instance, my HP Elite Dragonfly is as much a companion to me in my home workspace, traditional office space as well as on my trips to partners or customers in the busy Lagos traffic. In my morning exercise routine, our Poly headphones seamlessly connect to my device and sync up with my favourite playlist, which also enables me to make and receive critical work calls as necessary. This way I am able to work and take care of my body simultaneously thus improving my mental well-being. In addition to this, it is equally important to go outdoors and take in the scenery, weather permitting, as this helps put you in the right frame of mind. This really helps than sitting at home all day.
Finally, find something that makes you happy or gets you inspired. For some, it is a picture frame of their kids, wife, husband or family – a constant reminder of why we do what we do every day. For others, Asake’s ‘Lonely at the top’ or a tune or two from Burnaboy’s or Wizkid’s eclectic collections will get their inspiration juices flowing. For some still, it could be watching the sun rise every day to reset or refresh their mindset.
Whatever it is, the fact is that the future of work is hybrid, and it is here to stay. We just have to find the best way to make it work for organisations, as employers and as employees.
Whether you’re looking for breathtaking natural landscapes, heart-pumping outdoor activities, or culturally rich experiences, there are plenty of amazing places to explore out there. So buckle up and get ready for an adventure of a lifetime.
Here are the top 10 places to travel to as an adventure seekers
1. THAILAND
If you’re looking for one of the best adventure trips in the world, Thailand is a country in Southeast Asia known for its beautiful beaches, ancient temples, and delicious cuisine. Thailand is a friendly country, a great destination whether you’re just getting into adventure travel or you’re a seasoned expert.
Gorgeous beaches, stunning temples, and bustling cities are just the start. Thailand lures backpackers who want to explore wildlife (and wild nightlife), taste delicious food, surf for the first time, and do so much more. You can’t beat the affordability factor, either, making Thailand ideal for short-term adventures and longer stays alike.
2.ICELAND
Iceland is one of the best countries in the world for adventure travel, with opportunities for everything from glacier hiking to snorkeling and diving. Iceland is a good country in the world when it comes to its potential for adventure tourism, according to new research. Iceland is quite rightfully a must-visit destination in Europe for adventure seekers.
3. COLOMBIA
Colorado is a must-see on any adventurer’s bucket list. You’ll find world-class hiking, backpacking, mountain biking, climbing, and more throughout the state. The best way to get all of the outdoor action in Colorado is to hit the road. With so many outdoor adventures to choose from, you could easily spend two weeks to a month exploring this beautiful state. look forward to experiencing all the natural wonders, from hiking in the mountains to rafting down the rivers. It is going to be an unforgettable trip.
4.COLORADO
Colorado is a must-see on any adventurer’s bucket list. You’ll find world-class hiking, backpacking, mountain biking, climbing, and more throughout the state. The best way to get all of the outdoor action in Colorado is to hit the road. With so many outdoor adventures to choose from, you could easily spend two weeks to a month exploring this beautiful state. look forward to experiencing all the natural wonders, from hiking in the mountains to rafting down the rivers. It is going to be an unforgettable trip.
5. MAUI, HAWAII
If you’re craving an adventure in one of the most stunning places on Earth, then Maui is the ideal destination for you. Brace yourself for a pumping ride through the lush greenery and fly high above the trees on one of Maui’s zipline tours. My personal favorite has always been Kapalua Adventures, located on the west side of the island. You won’t regret experiencing this breathtaking adventure.
6. Lekki Conservation Centre
Have you ever been to Lekki Conservation Centre? It’s beautiful, You Will be guided through the park to see so many incredible animals, including monkeys, crocodiles, and birds. The highlight of the visit is the canopy walk – it is such a unique experience to be up so high in the trees, surrounded by nature. You will completely be in a different world. It is highly recommended to visit this beautiful conservation center if you’re ever in the area. Natural Resource Conservation is located in Lekki, Lagos State Nigeria. There is so much to explore and learn about the local flora and fauna. The lush greenery and peaceful atmosphere make it the perfect getaway from the hustle and bustle of city life. If you’re in Lagos, I highly recommend taking a trip to Lekki Conservation Centre.
7. OWU WATERFALL
Ever heard of Owu Waterfall? It’s an incredible sight located in Owa Kajola, Kwara State, Nigeria. This waterfall is the tallest in all of West Africa, measuring an impressive 120m above the water level. It cascades down an escarpment, with rocky outcrops along the way, before finally plunging 330 feet into a pool of ice-cold water below. It’s truly a breathtaking natural wonder that’s worth checking out if you’re ever in the area. It’s often referred to as the “Wonder in the Wilderness” and is considered one of Nigeria’s most breathtaking natural wonders. The sheer size and power of the waterfall are awe-inspiring, and it’s impossible not to feel a sense of wonder and appreciation for Mother Nature when standing in its presence. If you ever have the chance to visit Nigeria, be sure to add Owu Waterfall to your itinerary. It’s truly a sight to behold.
8.IDANRE HILL
Have you ever heard of the Idanre Hill? It’s a stunning natural wonder located in Idanre town in Ondo State, Nigeria. The landscape is breathtaking and worth a visit. Idanre is truly a wonder to behold! The cluster of gigantic hills is a sight to behold and one can’t help but be amazed by their sheer size and beauty. The natural wonder of Idanre is a testament to the power and majesty of the natural world, and it is truly a privilege to witness it firsthand. The hills seem to stretch on forever, and each one is more breathtaking than the last. It’s a true marvel to see such a stunning display of nature, and I feel incredibly lucky to have had the opportunity to experience it.
9.La Campagne Tropicana
La Campagne Tropicana is a private 60-acre beach resort in Lekki, Lagos. La Campagne Tropicana Beach Resort combines African-themed hospitality with modern luxury. The pleasure of visiting La Campagne Tropicana is the stunning beach that the property is situated on. The water is crystal clear and the sand is soft and inviting. But what sets this resort apart from others is the variety of activities that are available to guests. From water sports to nature walks, there is never a dull moment at La Campagne Tropicana. This resort is highly recommended for anyone looking for a relaxing and fun-filled vacation.
10.Yankari National Park
Yankari Game Reserve is a large wildlife park and former National Park located in the south-central part of Bauchi State. This is the most developed animal reserve and park in Nigeria. With about 550 elephants, this park has the largest elephant population in West Africa. Another feature at Yankari is Wikki Warm Springs with floodlit at night. It is the most popular destination for tourists in Nigeria and, as such, plays a crucial role in the development and promotion of tourism and ecotourism in Nigeria. It’s a must-visit for anyone interested in exploring the beauty and diversity of Nigeria.
