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Category: Business

  • Customs Collects N1.132b in Katsina, As Comptroller Umar Decorates 30 Promoted Officers

    Customs Collects N1.132b in Katsina, As Comptroller Umar Decorates 30 Promoted Officers

    Katsina Area Command of the Nigeria Customs Service has generated the sum of over N1.132 billion in 2023 fiscal year despite the challenges of banditry and border closure with the neighbouring Niger Republic.

    The Command’s Controller, Comptroller Mohammed Umar, disclosed this Friday, 19th January 2024 while decorating 30 newly promoted Officers of the Command at the Command’s Headquarters in Katsina, the Katsina State Capital.

    This was contained in a press release issued by Tahir Balarabe , Customs Public Relations Officer of the command

    Balarabe, a Superintendent of Customs stated in the release that the N1,132,831,484.75 revenue generated within the period under review was a shortfall from the 2023 revenue target of N1,304,548,912.93 given to the Command.

    He quoted the Controller saying “This figure represents about 87.8 per cent of the revenue target issued. It however indicates an improvement in revenue by N299,110,632.35 from N832,946,852.40 revenue generated in the preceding year 2022” despite the border closure.

    Comptroller Umar, stated that the Command ensured compliance with the border closure directive by strictly adhering and enforcing the principles guiding the border closure. The command during the period under review, intercepted 369 contrabands, including used vehicles, tyres, second-hand clothing, vegetable oil, and foreign parboiled rice, among others, with Duty Paid Value (DPV) of N553,339,240.00 in its ongoing anti-smuggling operations.

    He added that the Command under his watch has made significant progress in fostering synergy with other security agencies in the state for intelligence gathering and improved operations within and outside the border corridors.

    He noted that the Command has a cordial working relationship with the State Government, traditional institutions, religious leaders, border communities, and other stakeholders in the trade supply chain and would continue to facilitate trade without compromising economic and national security.

    We could not have achieved this feat without the support of the Comptroller General of Customs Bashir Adeniyi MFR, his Management Team, Officers and Men of the Command, and other Units of the Service.

    The Thirty (30) Officers decorated in the recently released promotion include, One (1) Comptroller of Customs, Three (3) Chief Superintendents of Customs, Three (3) Superintendents of Customs, Nine (9) Deputy Superintendents of Customs, Ten (10) Assistant Superintendents of Customs l, and Four (4) Assistant Superintendents of Customs ll.

    He charged the promoted Officers to rededicate themselves to work and deliver the Service’s constitutional mandate of revenue generation, legitimate trade facilitation, and suppression of smuggling.

    “You must ensure you behave as responsible Officers wherever you find yourselves by giving your uniform the respect it deserves because so many wish to be where you are today”, Comptroller Umar added.

  • INTERVIEW: Compliance, Quality Propelled Us to AEO Status – Ezenwa, CEO LeLook

    INTERVIEW: Compliance, Quality Propelled Us to AEO Status – Ezenwa, CEO LeLook

    On the sidelines of the just concluded Comptroller General of Customs Conference in Abuja, Mrs Chinwe Ezenwa, 73, CEO of LeLook, a Nigerian company specialising in using local fabrics to manufacture bags, told Ismail Aniemu about further plans to containerise their exports for shipping in place of using expensive airfreight.

    Her company is also one of the six approved by Nigeria Customs Service(NCS) as Authorised Economic Operator (AEO) . The AEO programme is designed by the NCS as part of trade facilitation strategy offering exclusive benefits to complaint companies with proven integrity.

    Q:Give us an overview of LeLook and how you felt being a pioneer in this AFCFTA export from Nigeria.

    LeLook that we started in 1985 is almost 39 years now. We set out to produce locally and sell globally at a time that people hated anything made in Nigeria or Africa and we even tried to start with production of wears and people hated it .They wanted to be wearing suit and tie. We decided to go into bags and we said if they can’t wear it ,they can carry it. They bought into that and as time went on, it has become globally acceptable that you can use African fabrics to promote your cultural heritage like the Indians do.

    Going to AFCFTA was like a big leap for someone like me to have lived for over 70 years to see this improvement. I see the AFCFTA as a prosperity agreement. For me, I call it prosperity super highway because it is a highway to progress. The goods and services in diplomatic ties. I am a beneficiary and I am training an army of young people to come onboard by establishing an academy. Our bag Academy is the first of its kind in the entire Africa. It is in Abuja and in Lagos . We have opened partnership with Nigeria Exports Promotion Council (NEPC) to improve on the exports.

    Q:Tell us about the level of acceptability you had in the Kenyan markets.

    It did not take me 3 weeks after the guided trade initiative to gain full acceptance. When we went to kigali and the Secretary General of AFCFTA mentioned our name, the entire Kenyan delegation really swarmed our stand and from there, we opened a warehouse automatically in Kenya.Our goods are already there and they’re making waves.

    Most of our bags are sent by air and the only set back we are having now is the expensive airfare. We are now trying to see how we can start containerising them, but to do that requires a lot of money. I am also talking to other collaborators that can come with similar wares and then we can share the cost.

    QTell us about the level of local content in your raw materials.Is it 100% , 80% , 50-50 Nigeria sourced or totally imported?

    I will not say it is 100% Nigeria sourced. I will say it is 80% Nigeria sourced and 20% foreign sourced. If you look around these fabrics, the Aso Oke, Ankara and Adire are Nigerian. The 20% are the zips and some other little items including some other special fabrics that are not obtainable locally. We get the leather from Kano and Ethiopia.I will say that this is our time .

    Q:How would you describe government support from agencies like Nigeria Customs Service and NEPC. Can you grade the support you get from these agencies So far, and to what extent do you think they can push you beyond the shores of Africa?

    I think there has been a massive government support which we never really obtained before now. For Customs, I think they are the best thing that have happened to us right now because they declared us an authorized economic operator. We are one of the six that were selected and that gives us authority to export and use the fast track to import the few essential things we need but the key to their own thing is compliance and I welcome it because I don’t have anything to hide.

    Complying is the least of my problems. For the Nigeria Exports Promotion Council, they have been a life long partner. Olusegun Awolowo was the first person that held my hand for more than 13 years ago and each successive CEO of NEPC will also want to look out for those who are adding value to the economy ,especially in exports.

    This current one has not relented. As a matter of fact, Nonye Ayeni took the bull by the horn by getting me to sign an MoU with them to train the young people in Lagos under the export skill acquisition center . It is a free training and they will be empowered to export when they get this skill.I’m fulfilled.

    Q:What’s your advice for SMEs that are in Nigeria and want to go to the AFCFTA level and maybe global scene?

    I will encourage them to look for mentors. I am ready to mentor a few. They can look for these agencies and seek their intervention in their business, do due diligence on their products and strive for quality.

    Quality has no state of origin. Without quality there is no trade and so quality is the name of the game.Ours is quality all the way .If it is not good we will not present it. We compete with the best in the industry and everywhere. The Chinese are wondering how we did all these without their help.

     

  • Trade: Zenith Bank Signs Smart Portal Pact With AfCFTA

    Trade: Zenith Bank Signs Smart Portal Pact With AfCFTA

    Zenith Bank Plc, on Tuesday, signed a Memorandum of Understanding (MoU) with the African Continental Free Trade Area (AfCFTA) to build a smart portal for trade on the African continent.

    Under the arrangement, Zenith is to fund the single portal for trade information with $1 million.

    The MoU was signed by the Group Chief Executive Officer of Zenith Bank, Dr. Ebenezer Onyeagwu and the Secretary-General of the AfCFTA, Wamkele Mene during the ongoing 2023 Zenith Bank International Trade Seminar in Lagos.

    Urging Africa to look inward for trade, the Zenith Bank GMD at the seminar themed: ‘Nigerian Non-Oil Export Industry, The Present, The Future’ said the need to drive Africa’s prosperity by Africans informed the idea of the single Africa trade portal.

    He said the portal would play a significant role in facilitating trade among African countries.

    He said: “With the MoU, Zenith will be developing the smart AfCFTA portal which is going to serve as a straight Porter that will showcase African products and services and where they can be found. With the development of this portal, one of the capabilities we are going to build in there is that you can see it in every part of Africa and market your products and services. You can see it in every part of Africa and identify whatever products and services you require that are in Africa.

    “If you look at Q1 exports in Nigeria, you will realize that 46.43% of non-oil exports in Nigeria go to Europe, 24.85% go to Asia, America 18.39%, and Africa 10.27%. And also, there is this tendency in Africa; the moment you are looking for an item you can’t find in your geography or region, the next thing you think of is how do I find it in Europe? How do I find it in the West? How do I find it in China? Now with the development of the AfCFTA portal, we are saying look for it in Africa before you look elsewhere.”

    On his part, the Secretary-General of the AfCFTA, Mene commended Zenith Bank for coming up with the idea of a smart trade portal for Africa and for funding it to the tune of $1 million.

    “What many of you may not be aware of and the MD may be too modest to say is that Zenith Bank was the first bank to come to me to say we want to partner with you. We went to see the chairman and the Chairman said that Zenith Bank wants to make a contribution to digitize trade in Africa. I’ve never been offered a million dollars before it was the first time when he said here is a million dollars.

    “The chairman said the one million dollars was to demonstrate the commitment as a bank to digitization in Africa”

  • Nigeria Exported 214 Items to 122 Countries in 2022- NEPC

    Nigeria Exported 214 Items to 122 Countries in 2022- NEPC

    Ezra Yakusak, Executive Director of Nigeria Export Promotion Council(NEPC) has disclosed that a total of 214 items were exported from Nigeria in 2022 by 1,172 companies to 122 countries
    He also said the exporting companies used 31 issuing banks and 19 exit points including seaports, airports and border stations.
    Speaking at the 2023 edition of Zenith Bank International Seminar on Non Oil Export in Lagos, the NEPC chief said export figures as at midyear 2023 amounted to $2.5b
    While describing the volume of export so far as low, Yakusak said trade was affected by the 2023 elections and other factors.
    For exporters to make more profits from the trade, he said there is the need to add more values to the various exportable items rather than taking them out of Nigeria in their raw or unprocessed forms.
    He encouraged more Nigerians to embrace the huge potentials in export by taking advantage of the NEPC portal for registration of exporters.
    According to him, from 2021, when the portal came live, to date , a total of 14,117 companies have registered using the portal after payment of N13,500 registration fee.
    On the Domestic Export Warehouse(DEW) initiative by the federal government, Yakusak said Kaduna and Kano outlets are ready for commissioning .
    He added that the DEW is aimed at addressing supply side issues and prevent congestion while harmonising inspections in 13 areas.
    He disclosed that as part of federal government incentives, N308b has been released to some exporters under the Export Expabsion Grant.
    The NEPC chief executive said Nigeria is ranked number four among leading producers of cashew nuts for export but not presently adding value to the commodity.
    He lanented that despite holding huge potentials, African countries are not among the top ten non oil exporting countries while calling for improvement in the sector.
  • NIMASA Hands Over Site for Floating Dock to Technical Partners

    NIMASA Hands Over Site for Floating Dock to Technical Partners

    The Management of the Nigerian Maritime Administration and Safety Agency, NIMASA has handed over the leased site at the Continental Shipyard Limited (CSL) of the Nigerian Ports Authority to the technical partners, Melsmore. The technical partners are to liaise with the Management of the Nigerian Ports Authority in finalising site management, which include risk assessment in preparation to move the Modular floating Dock to the Continental Shipyard for the commencement of full operations.

    This was contained in a press release issued in Lagos by Edward Osagie, NIMASA’s head of public relations .

    According to Osagie,NIMASA and the technical partners also agreed to invite manufacturers of the Floating Dock, Damen Shipyard to join in recommissioning the Dockyard, while site preparations are ongoing. This is to ensure the Floating Dock is deployed in the shortest possible time.

    While addressing officials of Melsmore, the Director General of NIMASA, Dr. Bashir Jamoh, OFR, emphasised the need for them to review the action plan in the light of realities on ground with detailed deliverables, and key performance indicators with clearly stated timelines.

    “Nigerians eagerly await the deployment of the Modular Floating Dock. This is a national asset, which has potentials to boost maritime trade, create jobs, develop skills, by providing training avenues to various maritime training institutions in Nigeria, while also attracting foreign investment and preventing capital flight, thereby generating revenue. We hope to have students from the Maritime Academy of Nigeria and the Maritime University Okerenkoko amongst other maritime institutions come for practical time”, the DG said.

    In his remarks, the Managing Director, Melsmore, Mr. Danny Fuchs thanked the Management of the Agency for the opportunity to work on such important project, and gave the assurance that the company is prepared to handle the movement of the floating dock from the naval dockyard to the Continental Shipyard Limited (CSL).

    It may be recalled that the Nigerian Ports Authority (NPA) recently leased designated areas at the Continental Shipyard for the operations of the Modular Floating Dock. The areas include; the dolphin jetty, waterfront of the jetty adjourning the slipway, an administrative block, a construction, welding and mechanical workshop and a civil maintenance workshop, among others.

    The project will be run on a Public Private Partnership (PPP) arrangement.

     

  • Firm Unveils Marketing Technology Solutions To Revolutionise Industry Practices

    Firm Unveils Marketing Technology Solutions To Revolutionise Industry Practices

    Market Engine, a frontline tech-based company offering best-in-class marketing technology solutions, is set to launch its groundbreaking suite of solutions designed to transform the way businesses engage with their target audiences.

    Focused on giving the best value to both business-to-business (B2B) and business-to-customer (B2C) enterprises, the company is strategically positioned to propel unprecedented growth for our clientele.

    In its drive to have a sizable market share in a competitive market, Market Engine leverages a combined force of resourceful professional expertise, best-in-class marketing acumen, and a wide range of proprietary tools, which ultimately delivers a confluence of unparalleled creativity and technology.

    In an ever-evolving market space with varying degrees of customer demands, Market Engine offers solutions that drive customer loyalty and revenue growth. Through business solution tools, we harness the power of data-driven insights and advanced automation to actualise the goal of businesses to make profit.

    Reeling out the company’s competencies, Managing Director, Market Engine, Bolaji Okusaga said: “As we have done with other various proprietary tools in creating business solutions, Market Engine is exploring the idea of creating a confluence between creativity and technology in ways that further create significant values for our clientele. This is the new normal of communication technology.

    “Through our disruptive approach to marketing communication, we are redefining storytelling by using the wheel of technology as the prime mover and systemic design that aligns the focus of our clients from a new perspective through audio-visual content aggregation that drives seamless Buyer-Seller relationship management.”

    Okusaga noted: “With the application of creativity, design, and technology, Market Engine is opening up a new frontier in the digital communication market and setting pace for innovative ideas that will usher in the much-desired optimal delivery of good service through our wide range of offerings.

    “In today’s fast-paced digital environment, businesses need to leverage advanced tools and strategies to stay ahead of the competition. Our solutions empower marketing professionals to unlock the full potential of their campaigns, deliver exceptional customer experiences and drive tangible business results,” he added.

    He explained that Market Engine, also called The Engine is set out to drive every selling engagement, awareness campaign, generating leads, and sustaining brand retention with Technology, adding: “We are dedicated to helping businesses thrive in the digital age. Market Engine is at the forefront of marketing innovation, introducing new ways of approaching brand marketing communications.

    “We believe that marketing communication needs to be reinforced from a new perspective, and technology is the only new way. We will do storytelling with the consciousness of how to grab and sustain the minds of our clients, consumers and customers.

    “Every day, market behaviour and habits present new opportunities and ways to engage to win them over. We will unearth these opportunities rapidly and design systemic yet simple ways to win them over to our client with technology.

    He further pointed out that in an era of Predictive Marketing, the firm is poised to design tailor-made solutions to address target audiences using Artificial Intelligence (AI) and machine learning to address typical business challenges.

    “We have an array of proprietary solutions that touch on Digital marketing, Influencer Marketing, a full-service audio and visual production Studio, Content Aggregation, shopper marketing, and Buyer-Seller relationship management,” he stated.

  • ACAMB Set To Hold Second National Stakeholders’ Conference 2023

    ACAMB Set To Hold Second National Stakeholders’ Conference 2023

     The Association of Corporate Affairs Managers of Banks (ACAMB), the umbrella body of corporate and marketing communication professionals working in Deposit Money Banks (DMBs) in Nigeria, has announced Thursday, August 17, 2023, as the date for its 2nd National Stakeholders’ Conference set to hold at Bankers House, CIBN, Adeola Hopewell Street, Victoria Island, Lagos.

    Themed “Marketing Financial Services in Dynamic Times”, the ACAMB stakeholders’ conference will serve to spotlight the evolving role of marketing communications in Nigeria’s burgeoning financial services industry.

    The keynote address at the conference will be delivered by Yomi Badejo-Okunsanya, Group MD, CMC Connect and immediate past President, African Public Relations Association (APRA). There will also be a panel discussion featuring a number of high-profile marketing communication experts and c-suite executives including Steve Babaeko, CEO/Chief Creative Officer, X3M Ideas and President, Association of Advertising Agencies of Nigeria (AAAN), Helen Ogboh, Group Head Manufacturing, Corporate Banking Directorate of First Bank of Nigeria Plc, Tolulope Ogundipe, Group Head, Banking Services, Premium Trust Bank, Tosin Adebayo-Yusuf, Executive Director/COO, Heirs Life Assurance, Dr. Sunnie Omeiza-Michael, Director, Lagos Chamber of Commerce and Industry (LCCI), James Agada, Director, CWG Plc.

    Commenting on the theme of this year’s stakeholders’ conference, Rasheed Bolarinwa, ACAMB President, said: “In dynamic times such as this, Marketing Communications plays an even greater role in the long-term viability and sustainable growth of Financial Institutions. It is no longer enough to offer innovative products and services, as these have become baseline in a highly competitive and consumer-driven market like ours.

    “Hence, this conference has been carefully put together to provide all participants with the technical know-how to build and maintain trust with customers throughout the service journey whilst also factoring in the dictates of other key stakeholder groups.”

    As the umbrella body of all corporate and marketing communication professionals of Financial Institutions, ACAMB has, among other objectives, the mandate to evolve and implement strategies that would enhance the reputation of the Nigerian financial services industry.

    The first Stakeholders’ Conference which was held in 2022 focused on building greater synergies within the Organised Private Sector (OPS) in Nigeria, in the face of the ‘new normal’ brought on by the COVID-19 pandemic. The event was well-attended and featured insightful master classes and mentorship programmes, as well as fitness and bonding sessions.

    The annual ACAMB Stakeholders’ Conference is open to members of the banking community and the OPS. Intending media and communication practitioners, heads of related agencies, and other relevant stakeholders are also invited to attend.

     

  • Residents of Ibeju Lekki Praise Dangote Refinery CSR Interventions

    Residents of Ibeju Lekki Praise Dangote Refinery CSR Interventions

    The Committee of Baales and some residents of Ibeju Lekki, Lagos have showered encomium on the Management of Dangote Refinery, on its social responsibility initiatives.

    They expressed appreciation to the company for providing vital infrastructure for their communities, repairing all the entrance roads of the 15 host communities by grading, sand filling, and applying stone base and now community people are able to access their abode without wading through the waters.

    In a chat with select newsmen yesterday, Baale of Magbon-Segun, High Chief Mufutau Dauda said, Dangote Refinery has demonstrated a high level of social responsibility as it has executed so many tangible projects across all the host communities, even up to Lekki.

    According to him: “We are all praying for Aliko Dangote. I even raised a special prayer for him in our community mosque this morning. He has done so well for all our communities. No doubt, he can do more, but for now, he is honestly trying. Our children are being trained inside the refinery site and they already passed the Level 1 and Level 2 examinations for City & Guilds certification in Electrical & Mechanical Engineering and they will be writing the examination for Level 3 certification soon. He also sunk boreholes for all the communities, and even provided generators, to each of the communities. And now, we have been informed the boreholes will be upgraded to solar power. His type is rare for sure.”

    In a similar vein, the Baale of Okeyanta, High Chief Shakiru Bello, said the scholarship scheme, which was started in 2019 by Dangote has helped parents in the communities. He said: “When they started the scholarship scheme for secondary and tertiary institution students, we thought they wouldn’t be able to sustain it, but they have continued to increase the numbers of beneficiaries every year and this is highly commendable.

    Mr. Akinola Yinusa of Okesegun community said his daughter is a beneficiary of the scholarship scheme and apart from the cash award, she is provided all her subject textbooks and academic materials like math set and calculator, and that his younger brother, Kabiru Yinusa, works as a full staff in the Refinery.

    “The benefit of the Refinery is enormous to us in this community. My younger brother works in the refinery as a staff and my third daughter also benefited from the scholarship scheme last year, so I am happy. I know so many families that have been positively affected by the company, so, yes, I am among those praying for Dangote Refinery with my other community people. He also urged Dangote not to relent in its efforts to ensure that more jobs were provided for qualified graduates who are indigenes of the Lekki Free Trade Zone.

    In the same vein, Ambali Useni a youth leader, also corroborated what other people have said, concerning the positive impacts of Dangote CSR initiatives and also said and reaffirmed the commitment of all the locals in ensuring that the company operates a rancour-free Plant, as it benefits both the state and the country at large.

    According to him: “In this community, We, the youth are peaceful. We are happy with what Dangote Refinery management is doing for us and for our community, though like Oliver Twist, we are asking for more. The unemployment rate would have been very high in this area, if not for the operations of this refinery. Many of the community youths were trained to acquire skills in trades such as carpentry; bricklaying and masonry; plumbing; automobile mechanic; welding and metal fabrication; electrical installation; refrigeration and air conditioning; and generator repair. They were also issued the Trade Tests certificates as well as certificates from the National Directorate of Employment (NDE). Some of these youths now work with Dangote. We are optimistic that we will benefit more as we have all resolved to give the company our maximum support and cooperation.”

    The communities in the area include Idasho, Ilekuru, Okeyanta, Magbon-Segun, Okesegun, Itoke, Idotun, Alasia, Okunraiye and Lekki towns, Imobido, Tiye, Mosa, Ilege, and Olomowewe.

    Speaking also, High Chief S.A. Adeyemi thanked the management of Dangote Refinery for their unrelenting efforts at impacting their host communities positively describing the social performance profile of the company as very impressive.

    He explained that with what Dangote Refinery has been doing for the people, it behoves the community leaders and all the residents to reciprocate and ensure peace reigns for the good of all so that the company can do more.
    Much as the people and community leaders are lauding the company for the giant strides in the host communities, Adeyemi said “I am also enjoining them not rest on their oars. As Oliver Twist, we are still asking for more because all these projects can never be too much for the people. He concluded.

  • Dangote beats MTN, Globacom, Banks to emerge Most Valuable Brand in Nigeria for 6th Consecutive Year

    Dangote beats MTN, Globacom, Banks to emerge Most Valuable Brand in Nigeria for 6th Consecutive Year

    Dangote Industries Limited has emerged as Nigeria’s most valuable brand for the sixth consecutive year. This achievement was confirmed by the brand and marketing firm, TOP 50 BRANDS NIGERIA, as part of its comprehensive 2023 Top Brands perception assessment.

    Winning the award for a record 6th time confirms the foremost African indigenous Conglomerate’s unwavering dominance of the domestic brand space.

    TOP 50 BRANDS NIGERIA, is a qualitative, non-financial evaluation of top corporate brands in the country. The annual top brands league table which has become like a report card, with which top corporate brands have a feel of their ranking in the market is done with a special purpose model, the Brand Strength Measurement (BSM Index).

    The rating firm in a statement said that Dangote got an impressive aggregate score of 86.2 on the Brand Strength Measurement (BSM) index, reinforcing its position at the forefront. The score reflects the consistent excellence of the brand.

    MTN remains a strong contender, securing a close second place with an 85 BSM index score. This year’s third and fourth positions are secured by Airtel Nigeria and Globacom, both with BSM index scores of 77.9 and 77 respectively. Interestingly, this reaffirms the prominence of telecom brands, with three out of the top four hailing from this sector. Among the Top 10 brands are Access Bank, Zenith Bank, Coca-Cola, GTCO, and First Bank, Globacom was adjudged the Most Popular Brand following the outcome of a Top of Mind (TOM) Survey, where respondents mentioned 10 brands that came to their mind or that they could easily recall.

    This year’s survey had as respondents Chief Marketing Officers and Head of Corporate Communications of major companies across the land.

    TOP 50 BRANDS NIGERIA announcing the ratings said, “this annual top brand evaluation provides a qualitative, non-financial assessment of the value of leading corporate brands in the country. It gauges consumers’ perceptions of brands and their impact on overall brand strength, using the Brand Strength Measurement (BSM) index—a model designed to assess a brand’s ability to deliver on its promises from the consumer’s perspective.”

    In today’s market, brands have woven themselves into the fabric of our daily lives, from dawn to dusk and even in every consumer choice. This phenomenon is amplified by the rise of concepts like consumer awareness, differentiation, and the dynamics of the global economy, making brands pivotal actors.

    Chief Executive Officer of TOP 50 BRANDS NIGERIA Taiwo Oluboyede, speaking on the outcome of this year’s evaluation, likened brand to a person. He said, “A brand is like a person with all the traits that define his/her personality to the audience. When you hear someone’s name, you are likely not just going to remember their faces or apparel, but who they really are and what they mean to you.”

    “Someone may claim to be the best man in the world, and could even go as far as doing paid advertising to attract attention. However, the real description of the person to you is your experience. Perception about a person could change from like to dislike or the other way round, the same is also true for a brand. That is why promoters go the extra length consistently remain in the target audience like-list” he added.

    He elaborated that the onus lies with brand owners and promoters to uphold compelling propositions and consistently deliver on promises. “It’s not just about making pledges anyway; it’s about steadfastly living up to them—a commitment that separates the top brands from the rest,” he stated.

    A breakdown of the 2023 evaluation report indicated that Nigerian-owned brands continued to shine among the top 10, with 10 brands. These are Dangote, Globacom, Access Bank, Zenith Bank, GTCO, and First Bank.

    Five of the top ten brands are Banks, while three are Telecoms. Impressively, 9 of the 10 were among the top 10 last year, while 4 maintained their previous position. Airtel Nigeria made a remarkable ascent to third place. Also, six brands have consistently maintained top 10 positions for a remarkable 7 years in a row.

    Overall, 26 or 52% of the 50 brands are multinational, while 24 or 48% are Nigerian brands.

    Rite Foods Limited stands out as the highest gainer this year, leaping 14 places from 46th to 30th. Notably, Wema Bank makes a noteworthy debut in the annual brand ranking. Furthermore, nine brands maintained their 2022 positions, they are Dangote, MTN Nigeria, GTCO, First Bank, Multichoice, Fidelity, Toyota Nigeria, FMNPLC, and AXA Mansard.

    A breakdown of the report indicated that Banking Services, as usual, had the largest entries with 12 entrants, representing 24% of the total. Access Bank topped the category. This is followed by Consumer Goods with 9 brands, that is 18%, with Dufil Prima Foods leading the charge.

    The Conglomerates category has 6 brands, making up 12%, with Dangote Group on top. The Oil and gas, Beverages, and Telecom sectors each contribute 4 brands, with Oando, Coca-Cola, and MTN leading their respective categories.

    The Insurance sector has 3 brands, with AIICO at the forefront. Meanwhile, the Building & Construction Services, Media, and Electronics categories had 2 brands each, featuring Julius Berger, Multichoice, and Tecno Nigeria leading their respective categories.

    Automobile, Agricultural, and Aviation/Logistics sectors had 1 brand each —Toyota Nigeria, Olam International, and Air Peace.

    Of note in the report also is a class called Brands to Watch, a set of 10 brands that have shown some level of vibrancy in recent times and are gaining momentum in consumer acquisition with the possibility of achieving the 50 top Brands League Table in few years. It should be noted that, while these brands have considerable mentions in the TOM survey, they were not strictly subjected to the rigorous BSM evaluation.

  • Oilwatch Applauds Ecuador Citizens for Voting Against Fossil Fuel Extraction at Yasuní

    Oilwatch Applauds Ecuador Citizens for Voting Against Fossil Fuel Extraction at Yasuní

    A group of environmental activists, Oilwatch International has applauded the decision of over

    5.2 million citizens of Ecuador , who voted in a national referendum to keep the oil in the soil at Yasuni on August 20, 2023.

    The group noted that it is heartwarming to know that 5.2 million Ecuadorians had the interest of their natural environment at heart compared to the 3.6 million others, who voted for extraction of fossil fuel in the country.

    It said the referendum, held 10 years after the original petition, showed the triumph of a people with the capacity to fight for their rights, maintaining that in the face of opposition from vested interests, the vote affirms restorative justice for all the wounded Amazon and its people.   A statement issued by the group said: “It sent a strong signal that another world is possible. This is a great lesson in the meaning of democracy and participation that places care for life at the center of the struggle to overcome multiple crises.

    “Activists from around the world recognize that Ecuador is now a reference point for forging citizenship that looks to the future in a new and visionary way.

    “For the world and particularly for Latin America, it is a just transition for people and nature. Throughout Latin America, the people especially the Indigenous peoples, through resistance struggles, are confronting the pollution and damage caused by oil extraction and moving to protect territories that must be liberated.
    “Oilwatch International salutes the people of Ecuador on this historic victory.  And the larger mission of the Yasuni people is to heal their land and to restore the collective rights of peoples, and nature. Voting to keep an estimated 1 billion barrels in the ground at Yasuni is a remarkable climate action worthy of emulation.”
    Chairman of Oilwatch International Steering Committee, Nnimmo Bassey, stated that the victory of the people of Ecuador is one that should be shared largely across the globe.

    “The vote on Yasuni is the real climate leadership the world sorely needs. After a long wait, we celebrate the victory of the people of Ecuador. This is a major step towards depetrolising the world and combating climate change and its ravages.  This victory is a strong signal to polluters that their impunity must stop.”

    While celebrating the outcome of the referendum, Coordinator of Oilwatch International, Kentebe Ebiaridor, stated that it is a huge victory not just for the indigenous people but for nature as well, adding: “With efforts such as these, there is hope that the rights of nature can be respected and endangered species will gradually recover.

    He applauded the bravery of the Ecuadorians and urged other communities around the world to emulate the same gesture.
    “Oilwatch agrees with the broad network of activists calling for an end to fossil fuels expansion that it is time for the fulfillment of the common but differentiated responsibilities of the polluting countries, payment of the ecological debt from the North to the South and the battle against false solutions to the climate crisis should see Yasuní as the territory from which genuine and just transition has signaled a start that cannot be postponed,” he added.