The Federal Road Safety Corps, FRSC has issued an alternative route for motorists travelling to and from the South-West through the Kabba-Omuo Ekiti Highway.
This is as a result of a failed section of the road at Ikoyi under Iyara Local Government Area of Kogi State which has led to a poor flow of traffic.
Motorists are advised to use Kabba/Asaya/Ogidi/Ikare as alternative route to or from South-West.
Corps Public Education Officer, Assistant Corps Marshal Bisi Kazeem, disclosed this in a statement made available to The Business Bells.
The statement read, “Members of the motoring public and general commuters travelling from or to Southwest, through Kabba- Omuo Ekiti Federal Highway are hereby notified of a failed section of the road at Ikoyi under Iyara local government area of Kogi State.
“This development has led to lack of free flow of traffic at the said portion of the road.
“In view of the foregoing, motorists, travellers, and the general public are hereby advised to use Kabba/Asaya/Ogidi/Ikare as alternative route to or from South-West. The Federal Ministry of Works and Housing is already activating appropriate action to ameliorate the situation.
“The Federal Road Safety Corps solicits maximum cooperation of the motoring public on this development. The Corps will also continue to update the public periodically on further developments.
“Meanwhile, operatives of FRSC are on ground controlling traffic.”
When Africa’s e-commerce market leader, Jumia released its 2021 Q2 result, one of the interesting revelations was the upward trend of orders on the platform.
The e-tailing platform said “Orders reached 7.6 million, up 13% year-over-year.” This, the report said, was the fastest volume growth of the past five numbers of quarterly orders, up almost 60% year-over-year and accounting for 22% of total orders.
As the orders increase, it rubs off on package delivery in the logistics arm of the sector. The latest report also showed a record 1.3 million packages delivered in the second quarter of 2021 compared to half a million packages in the full year 2020.
The foregoing serve as pointers to the growing adoption of e-commerce on the African continent. Even the skeptics of the viability of e-commerce service in Nigeria must have at one time or the other benefited from the services in past years.
Interestingly, one of such staunch doubters of online retail services in Nigeria currently owns a logistics hub that is thriving on the wings of its partnership with Jumia.
He is not only smiling to the bank, his company is also creating employment opportunities.
“I was one of those who initially felt that e-commerce can never thrive in Nigeria. But as of today, the numbers are showing that things are different,” said Segun Babs, Founder of Fairy Trips Limited.
Babs said his personal business experience shows a growing e-commerce trend in the country.
In July, Fairy Trips delivered 14,000 packages. This was coming from a period of 40 packages that went even down to 14 packages at the early stage of the business.
According to him, e-commerce gained more traction during the Covid-19 lockdown periods of 2020 and the culture is still being sustained in the emerging post Covid-19 era.
“These numbers show the increasing rate of adoption of e-commerce space in Nigeria. I can’t really say because I don’t have the data, but I can say it’s either people are buying more or embracing the ecommerce space more.
“Another thing to consider is that by the time Covid came last year, we had a lot of orders coming and they were everyday household items; groceries and others. The people who were isolated, we were giving them packages, sending them food and things to eat and other everyday items. It shows that there is a big adoption and it can only get better,” he said.
The Fairy Trips boss is also looking forward to a business boom as the year runs out with festive sales activities.
He said “If we had 14,000 packages for the month of July, I am waiting to see what we would do in November-December when there’s a tier one event coming up. All these things show that e-commerce is here to stay and Jumia is a preferred partner to go with.”
For Babs, his investment in the business is yielding profits. E-commerce is gaining more ground on the continent, and he’s reaching out to friends and family to join the moving train, invest and make a decent living from the growing market.
“Am I reaping the effort I have put into the company? Definitely yes. Now I have family members, friends employed in the business. People that came for help and I ask them to join the 3PL to do deliveries and make money for themselves. I have friends I told to come sign up, have a hub, become a partner and make a decent living off the whole business. So for me, e-commerce is here to stay. Kudos to Jumia, they’ve done a really fantastic job.”
The fact that e-commerce is becoming a part of daily life in Nigeria is becoming glaring to all. Even if you aren’t yet on the train, you can see and feel its movement around you. The growth is reflected in the numbers of activities, and more importantly in the first hand testimonials of customers and partners who benefit from the impact of the services.
The Association of Advertising Agencies of Nigeria (AAAN) has concluded arrangements to hold the 16th edition of the Lagos Advertising and Ideas Festival (LAIF) Awards.
The event which will feature a live audience and virtual streaming is scheduled to hold on Saturday 27 November, 2021.
Themed ‘We Made It’, the 2021 edition is a double entendre which speaks on the effects of Covid 19, how the industry has survived, and also celebrating the creative outputs and ideas of creatives across the spectrum including movies, music, art, as well as those that have broken new grounds with their ideas and creativity.
According to AAAN: “If 2020 taught us anything, it’s that it’s the things that people make that get us through the tough times. This year, LAIF 2021 celebrates makers across the spectrum. From those who crafted creative campaigns that wowed us to those who made viral challenges that engaged us – we’re here to say stand up and be recognised. Welcome to LAIF 2021. You Made It!”
Additionally, the marketing communications industry respected award has also introduced a new special Award— The Authentic African Story Award. This special category was endowed by Mr. Lanre Awokoya, Chairman, TBWA/ Concept in recognition of creative works that have portrayed indigenous stories in the most relatable way, as well as identify and celebrate authentic African stories that break the mould in brand building. The Award also comes with a cash reward.
Speaking at a press conference held at the AAAN Secretariat, Chairman, LAIF Management Board, Mr. Lanre Adisa who announced the theme said: “This year, we will be celebrating ideas and creativity that not only gave us great marketing outcomes, but also changed and transformed how we engage and are entertained. LAIF Awards will extend its recognition to other creative sectors that have trail blazed through content creation and also transformed lives in our society”.
L-R: Jenkins Alumona, Vice President, Association of Advertising Agencies Of Nigeria; Kemi Fabusoro, Director, Association of Advertising Agencies of Nigeria; Lanre Adisa, Chairman, LAIF Management Board and Temitope Jemerigbe, Publicity Secretary, Association of Advertising Agencies of Nigeria. At the press conference unveiling the 16th edition of the Lagos Advertising and Ideas festival (LAIF) Awards in Lagos recently
Adisa also thanked the media for always projecting the activities of the association in such a way that many stakeholders have started noticing and appreciating the impact of AAAN in the country.
“As we are seated here, you (media) are the most important stakeholders that we are having here today. Part of what you have done and you’ve been for us is the recognition that we got from the Lagos State government recently,” he submitted.
Recall that the Lagos State Governor, Mr. Babajide Sanwo-Olu had during the Marketing Edge Brands and Advertising Awards of Excellence held recently pledged the support of his administration for the Lagos Advertising and Ideas Festival (LAIF) Awards.
The governor said the state has fully identified with the marketing communications industry as he reiterated his reliance on the expertise of brand creators and communications consultants to achieve his goals of drawing the world’s attention to ‘Destination Lagos’.
Sanwo-Olu said, “Let me assure you of our administration’s readiness to support the Lagos Advertising and Ideas Festival (LAIF) Awards. Since our name is involved, we will provide the support to make it greater than ever before. Let us begin to use the platform of LAIF and similar initiatives to draw the attention of the world to Destination Lagos.”
In his remarks, the President of the Association, Mr. Steve Babaeko, represented by the Vice President, Mr. Jenkins Alumona, further emphasized the commitment of the Association to ensuring the highest standards in the entire process as well fulfilling a mission to drive inclusion of other creative sectors to grow and solidify our contribution to the economy in Nigeria and West Africa at large.
According to the organisers, there will be over 30 jurors to judge the different categories which include the Film LAIF, Press LAIF, Digital and Mobile LAIF, Outdoor LAIF, Radio LAIF, Media LAIF, LAIF Effectiveness Category, Campaign Category, Promo and Direct Category, and LAIF Impact.
All entries for the LAIF Awards 2021 must have been run between June 2020 and July 2021.
Similar to the last edition, activities of the awards will be carried out on the online portal.
Advertising agencies are to submit entries through this portal and jurors will be working remotely to judge each category through their profiles.
The members of the jury will be representatives of the industry that will create a fair and balanced atmosphere for judging the LAIF entries.
As part of the LAIF Awards activities, the LAIF Management Board will be organising a virtual seminar to share and discuss interesting topics in two sessions. The webinar will hold on Friday 18 November, 2021.
This year, participation in the LAIF Awards will also be extended to agencies in Ghana with the hope of including other West African countries in the nearest future.
The naira plunged to a fresh record low against the dollar, the British pound sterling and euro on Thursday amid the lingering scarcity of foreign exchange in Nigeria.
The value of the naira fell against the US currency on at both the parallel market and the Investors’ and Exporters’ foreign exchange window.
The local currency, which stood at 526/$1 on Tuesday, fell to 530/$1 at the parallel market on Thursday from 528/$1 on Wednesday.
The naira dipped to 720 against the pound at the parallel market from 717/£1 on Wednesday, while the euro rose to N620 from N616 on Wednesday.
At the I&E window, the naira weakened further to 411.67/$1 on Thursday from 411.50/$1 on Wednesday, according to FMDQ Group.
No less than 55 per cent to 60 per cent of Nigerian forex transactions are traded at this window, which is used by the CBN and most exporters and investors, according to Financial Derivatives Company Limited.
“It serves as not only a source of price discovery but also a barometer for measuring potential and actual CBN intervention in the market. Some of the exchange rate determinants are balance of payments, capital inflows and trade balance,” the FDC said.
The PUNCH had reported on Tuesday that the naira extended its decline on Monday, sliding to an all-time low of 527 against the dollar at the parallel market.
The naira had strengthened to 506/$1 on August 4 after plunging to 525/$1 at the parallel market on July 28, a day after the Central Bank of Nigeria stopped foreign exchange sales to Bureaux de Change.
The CBN Governor, Mr Godwin Emefiele, had on July 27, at the end of the Monetary Policy Committee meeting, announced the stoppage of forex sale to the BDCs, saying they had turned themselves into “agents that facilitate graft and corrupt activities of people who seek illicit fund flow and money laundering in Nigeria.”
In a related development, the country’s external reserves have risen above $34bn for the first time in more than two and a half months, according to the CBN.
The reserves, which had been wobbling in recent weeks, jumped from $33.40bn at the end of July to $34.02bn on August 31, the highest since June 9.
The CBN data showed that the reserves fell to a record low of $33.09bn on July 12 from $34bn on June 10.
Business conditions in Nigeria’s private sector improved modestly midway through the third quarter, but the rate of growth slowed to a six-month low.
Softer upticks in output, new orders and employment contrasted with quicker expansions in held inventories as firms seek to take advantage of faster lead times, and protect against any future supply shocks.
However, a loss of momentum in demand resulted in a dip in optimism. Sentiment was the third-weakest in the series history.
Meanwhile, purchase prices continued to rise sharply, although the rate of inflation softened from that seen in July.
The headline figure derived from the survey is the Purchasing Managers’ Index™ (PMI®).
Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.
At 52.2 in August, down from 55.4 in July, the headline PMI registered a rate of growth that was the softest since February.
New orders rose for the fourteenth month in succession during August which panelists linked to greater domestic demand.
The rate of expansion eased notably from that seen in the previous survey period, however, with some firms mentioning that higher prices led to weaker sales growth.
Consequently, firms raised their output levels at a softer pace, and one which was subdued in the context of historical data. Those firms increasing output mentioned higher customer numbers. Of the four monitored subsectors, two recorded growth.
Manufacturers registered the steepest uptick, followed by wholesale & retail. Meanwhile, services saw a marginal decline, while agriculture recorded a sharp contraction.
To cater for higher output levels, firms raised their headcounts marginally during the month. A further increase in staffing levels underpinned a solid reduction in outstanding business. In fact, backlogs fell at the fourth quickest rate in the series history.
Quieter road conditions and prompt payments led to shorter delivery times in August. Quicker lead times allowed firms to add to their inventory holdings. Stocks of purchases rose at a sharp and accelerated pace which firms linked to efforts to protect against any future supply shocks.
Turning to prices, higher raw material, commodity, and staff costs as well as unfavourable exchange rate movements led to a marked uptick in input prices. Firms looked to raise selling prices in a bid to protect profit margins.
Finally, sentiment moderated to the third-weakest in the series. Panel comments suggested the longer-term economic implications of COVID-19 weighed on optimism.
The Federal Government, through the Ministry of Humanitarian Affairs, Disaster Management and Social Development, has embarked on the disbursement of monthly stipends, using debit cards, to 15,562 poor and vulnerable persons in Osun.
According to the News Agency of Nigeria, at the Boripe Local Government Secretariat, on Tuesday, 187 vulnerable persons were issued Debit Cards for the payment of their monthly stipends.
Osun Coordinator of Household Uplifting Programme-Conditional Cash Transfer, Iyabo Ayofe, explained that the FG has now digitalised the payment system.
Ayofe told the beneficiaries that their stipends would be paid/loaded on the debit cards henceforth, stating that they can always withdraw their money on any Point of Sales machine or Automated Teller Machines at any time.
She said that the debit card has now erased the “cash by hand” mode of payment, and that anytime the beneficiaries are notified of payment, they can go to the ATM or use the POS closer to them to collect their money.
“The cards being issued to beneficiaries today are preloaded with N30,000 for the payment of the backlog of 2020 stipends.
“About 4,000 of the beneficiaries, however, would have more than N30,000 loaded on their cards because these categories of beneficiaries have additional health expenses and dependants like pregnant women, breastfeeding mothers and those with children from zero to five years.
“This digitalisation mode of payment makes payment easy, eliminates attack on beneficiaries by criminals and makes it easier for beneficiaries to withdraw their money wherever they are, at any point in time,” she said.
She, however, said the distribution of the debit cards to beneficiaries would only cover eight local government areas (as the pilot phase), but would be extended to the remaining 22 local government areas and area offices subsequently.
All is now set for the historic launch of the compendium of landmark speeches and presentations of the Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta.
In a statement signed by Dr. Ikechukwu Adinde, Director, Public Affairs, NCC, the epoch-making launch of the book scheduled to hold at the Communications & Digital Economy Complex, Mbora, Abuja, on September 7, 2021 by 10:00 a.m. prompt, will also feature the unveiling of two other strategic initiatives of the Commission.
Titled: “Catalysing Nigeria’s Socio-Economic Transformation through Broadband Infrastructure,” the book is a compilation of carefully-selected, seminal speeches and presentations of Prof. Danbatta, touching on all strategic areas of the nation’s telecoms industry development and the entire digital economy ecosystem, since his assumption of office as the EVC/CEO of NCC in August, 2015.
Danbatta, a Professor of telecommunications engineering, accomplished academic, and seasoned administrator has made extensive speeches and presentations on a wide-range of subjects in telecoms and ICT at important national, regional and international events since leaving the ivory tower to become the EVC of NCC in 2015.
His landmark speeches and presentations from 2015 till date have, thus, been codified in a concise collection, as a compendium, providing useful information that will significantly add value to the existing body of knowledge in the telecoms sector, and by extension, the entire Information and Communication Technology (ICT) industry.
The foreword to the book has been painstakingly written by the late former Chairman, Board of Commissioners of NCC, Alh. Ahmed Joda of blessed memory.
The book will serve as a useful reference material not only for existing and prospective investors in the sector but also for researchers in the academia as well as policy analysts and others interested in any aspects of the telecom industry and regulation. The book which also chronicles important milestones attained by the Commission under Danbatta’s leadership is a compelling read.
Other strategic projects to be unveiled by the Commission alongside the compendium are the NCC’s new five year Strategic Vision Plan (SVP) 2021-2025 and the Commission’s new social media channel, the NCC’s Global Connect Podcast.
The new SVP will enable cross-functional infrastructure, ubiquitous services and deepen consumer engagement to consolidate the growth of the telecoms sector and expand the possibilities of the digital economy.
The need to develop another SVP, as a five-year implementation roadmap for the Commission, followed the expiration, in 2020, of the first SVP unveiled by Danbatta in 2016.
It has been widely acknowledged that the diligent execution of the first SVP initiative, under Danbatta, has helped to consistently lift broadband penetration, increase telephone access, boost the sector’s contribution to the Gross Domestic Product (GDP), enhance healthy competition in the industry, improve quality of service (QoS), as well as put the sector’s overall investment profile on an impressive growth trajectory, among others.
The ‘NCC Global Connect,” podcast is the third initiative enlisted for unveiling during the launch. The latest addition to the NCC social media spectrum will help in enhancing the Commission’s corporate communication activities within the online space. The podcast initiative was conceived in keeping with NCC’s core values of innovation and excellence;. It adds to the existing media channels, providing an inclusive medium to broaden our media platforms to educate external stakeholders on its regulatory activities irrespective of their circumstances, through audio contents.
The Honourable Minister of Communications and Digital Economy, Dr Isa Ali Ibrahim Pantami, will be the Special Guest of Honour at the occasion.
Senior government officials, industry leaders and stakeholders as well as dignitaries from across the country are billed to attend the landmark event.
The Lagos State Government has strongly debunked speculation making the rounds that it has scrapped the collection of wharf landing fees on imported vehicles at the ports operating in the state.
It said all categories of vehicles including containerized cargoes are still required to continue paying the wharf landing fee.
A statement by the Public Affairs Officer of the Lagos State Wharf Landing Authority (LSWLA), Mr Michael Oputeh, said the news making the round that the state government has scrapped the wharf landing fees is false.
He urged all ports operators particularly freight forwarders, and clearing agents not to be misled by what was clearly a false report, that was a figment of the imaginations of those who concocted it.
According to the statement: “The attention of the Lagos State Wharf Landing Collection Authority has been drawn to misleading news that has gone viral on social media that the state government had scrapped the wharf landing fee. This is not true and must be a figment of imagination of its authors.”
Oputeh urged all operators to disregard the misleading information which claimed the fees was scrapped following series of complaints from importers and clearing agents about multiple taxation on imported vehicles.
He said the letter purported by the government was merely mandating the streamlining of fees between the LSWLA and the Lagos State Motor Vehicle Administration Agency (MVAA) on imported cars.
“This to the best of our knowledge does not represent a scrapping of the landing fees as being erroneously speculated, We urge all operators not to run afoul of the law of the state, but do well to pay appropriate fees as there was no truth in the unfounded reports that hinted otherwise.”
He urged anyone who is still in doubt to get across to officials of the wharf landing agency for the true position of things and have all their grievances or complaints sorted out.
The news report falsely claiming the landing fees have been scrapped quoted a letter purportedly signed by one Ogunlenu Muslim A. on behalf of the Lagos State Government, which was said to have been conveyed to the ANLCA National Secretariat that both agencies are now collaborating for seamless operation.
“I am directed to inform you that Lagos State Wharf Landing Fees Collecting Authority and Motor Vehicle Administration Agency have decided to collaborate to enable us have a seamless operation in the joint sales of Wharf Landing tickets and Temporary Vehicle Tag (TVT) at various points prescribed by Government”
“This Agreement was reached for government to have a singular point of payment for the fees,” the letter reads in part.
Lagos State Governor, Babajide Sanwo-Olu has announced his administration’s readiness to support the Marketing Communications industry in Nigeria through the provision of improved infrastructure to give the scenic settings required for great television commercials and creative contents that meet global standards.
The Governor, who was the Star Awardee and recipient of Marketing Edge Outstanding Political Brand Icon of The Year Award, made this disclosure while giving his speech at the Marketing Edge Brands and Advertising Awards of Excellence held recently in Ikeja, Lagos.
In his words: “I am not unaware that there was a time many of you needed to fly to Cape Town, Durban and Johannesburg before you could shoot a good TV commercial for your clients. Today, the story has changed. Let me assure you, it can only get better from here. The infrastructures we are creating are gradually giving you the scenic settings you require for great television commercials that can earn more prestigious laurels from across the world.”
In March, the Federal Government had announced a fine of N100, 000 on local brand adverts broadcast on CNN and other foreign stations broadcasting in Nigeria, and on adverts of local brands that are created abroad. Due to lack of adequate infrastructure, the announcement came as a shock to both advertisers and practitioners in the Integrated Marketing industry as the NBC moved to also implement a regulation mandating exclusive licensees and broadcasters to share exclusive rights with other broadcasters.
However, Governor Sanwo-Olu in his speech noted that the government was fully developed to lend its resources to the imaginations of ‘creative rebels’ like Lanre Adisa, Steve Babeeko, Kelechi Nwosu and Israel Jaiye Opayemi, who lead a generation of fertile minds to create exciting campaigns that have put Nigeria on the global map.
He submitted: “You are the group of professionals who need to send files and folders in terabytes and gigabytes from one part of the world to another. With the laying of 6000 km of Fibre Metro Network across Lagos, our government is surely giving your operations the needed leg to show up at the appropriate places at the right time.”
“When we were crafting the T.H.E.M.E.S Agenda, the Creative Industry where you play and the Technology sector were some of the sectors we had in mind at the conception of our Fibre Optic Project. Our readiness to support marketing-related initiatives is not limited to the Advertising sub-sector of the industry. It is open to various specialist areas that make up marketing. At the center of what we do as marketing professionals is creativity. And that is what our government is committed to promoting and encouraging.”
The Executive Governor of Lagos State, Mr. Babajide Sanwo-Olu, has urged marketing communications practitioners in the country to help in telling the story of Lagos through the brands they manage.
Sanwo-Olu made this plea at the Marketing Edge Brands and Advertising Awards of Excellence held recently in Ikeja, Lagos, where he proclaimed the “Outstanding Political Brand Icon of the Year”.
The elated Governor, who described himself as the Chief Marketing Officer of Lagos State while giving a resounding keynote address, expressed special gratitude to the veterans of the marketing profession whom he acknowledged have toiled to build and give relevance to reputable trade.
In his words: “Today is for celebrating ourselves, our craft and achievements as marketing communications professionals. Over the last 5 decades, the marketing communications profession has evolved remarkably to become a window for the world to see the creativity that resides within us.
“Our readiness to support marketing-related initiatives is not limited to the Advertising sub-sector of the industry. It is open to various specialist areas that make up marketing. At the centre of what we do as marketing professionals is creativity. And that is what our government is committed to promoting and encouraging.”
Speaking further, he said: “I am not unaware that there was a time many of you needed to fly to Cape Town, Durban and Johannesburg before you could shoot a good TV commercial for your clients. Today, the story has changed. Let me assure you, it can only get better from here. The infrastructure we are creating are gradually giving you the scenic settings you require for great television commercials that can earn more prestigious laurels from across the world.”
After receiving the award, Mr. Sanwo-Olu said: “It was with deep sense of humility that I receive the “Outstanding Political Brand Icon of the Year” this prestigious MARKETING EDGE Brands and Advertising Awards of Excellence.
“Let me remind you that every year, at the annual Cannes Festival, the winning campaigns are not the ones who tell the stories of the commercial brands. Rather the winners are the ones who tell stories of people, places, and the triumph of the human will and spirit above adversity.”
Recall that the 2-in1 event which began with the Annual Summit themed: “Rethinking the Blue ocean Strategy In Uncertain Times”, had the global industry summit a day before the awards night.
