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CBN Provides N240bn For Power Firms’ Emergency Expenditure

The Central Bank of Nigeria is providing N240bn in emergency capital expenditure for interface repairs and network improvements by power firms, the Federal Government has said.

It was gathered that the fund was being invested by the bank to also help in boosting the capacities of power distribution companies to distribute electricity.

After the unbundling of the defunct Power Holding Company of Nigeria in November 2013, a total of 11 distribution companies and six generation companies emerged and were handed over to private investors.

Despite being privatised, there had been liquidity concerns in the sector, a development that had made the government intervene by pumping funds into the industry often.

In a document entitled ‘Update on the Nigeria Electricity Supply Industry,’ obtained from the Federal Ministry of Power in Abuja on Friday, the Federal Government stated that it was again supporting power firms through the CBN with N240bn.

Under the investment section in the document, the government said, “N240bn in emergency CAPEX (capital expenditure) provided by the CBN for interface repairs and (for) Discos in network improvements.”

The government, however, stated that it had recorded return of investment with the N105bn Afam III, IV, V power plants sale, and the disposition of Yola Disco at N19bn.

It said there had been an Expression of Interest in the Zungeru power plant.

On some of the headwinds in the NESI as contained in the document, the government explained that macroeconomic factors such as changes in foreign exchange rate were impacting on cost reflective tariff in the power sector.

It described the impact of inflation as limited but rising, adding that the delays in implementation of gas pricing might impact electricity tariff in July.

On the pace of capital expenditure investments, the government observed that there was a need to boost power supply in order to limit tariff impact, as the CAPEX investments inaugurated in June should be accelerated.

“The capacity of the market to spend/absorb CAPEX funds needs to ramp up,” the power ministry said.

On labour matters, the ministry said progress was being made with the joint Federal Government-labour committee on agreement to ensure that minor (tariff) reviews continued on time.

It said the implementation committee engagements had been positive thus far but noted that there was still the need for continued monitoring.

The power ministry stated that insecurity had been a challenge in some areas in the North, as it stated that it was encountering challenges in power supply to Borno and its environs due to vandalism by insurgents.

4 July 2021
FG Suffers N15tn Revenue Shortfall in Six Years

The Federal Government recorded a revenue shortfall of N15tn from 2015 to 2020, official data obtained by our correspondent have shown.

The revenue shortfall led to a funding gap of N3.75tn in the implementation of capital projects of Ministries, Departments and Agencies, according to an analysis of the budgetary provisions and budget implementation reports from the Budget Office of the Federation.

According to the documents, the total revenue projection for the six-year period was N31.9tn, while about N16.9tn was generated, resulting in a shortfall of N15tn.

The total revenue allocated for capital projects in the period under review was N11.9tn, while the actual amount released to the MDAs was estimated at N8.2tn.

The data showed that in the 2015 fiscal year, the Federal Government approved the sum of N557bn for capital projects, out of which N387bn was actually released, resulting in a funding gap of N169.6bn.

From the N1.58tn budgeted for capital projects in 2016, the sum of N1.21tn was released, creating a deficit of N368bn.

For 2017, N1.56tn was released for the execution of capital projects, out of the budgeted amount of N2.17tn. This resulted in a funding shortfall of N611.35bn.

In 2018, the government approved N2.8tn for capital projects but released N1.8tn for implementation. This caused a funding deficit of N1.01tn.

Further analysis of the data revealed that in 2019, a funding gap of N863.9bn for the execution of capital projects was recorded.

In the 2019 annual budget, the total amount of N2.03tn was allocated for capital expenditure, out of which N1.16tn was released.

An analysis of the revised budget for the 2020 fiscal year showed that N2.6tn was projected to be spent on capital projects, but N1.94tn was released. This resulted in a funding gap of N733bn.

Economists told our correspondent that the annual revenue shortfalls could be largely attributed to the disproportionate reliance of the Nigerian economy on crude oil.

They advised the Federal Government to focus on expanding its revenue sources in order to generate adequate revenue to finance capital projects for the benefit of the country’s economy.

How LG Refrigerators Deliver Smarter Culinary Life and More Hygienic Food Management

They explained that the revenue projections contained in the annual budgets were largely based on crude oil prices.

A professor of Economics at the University of Ibadan, Adeola Adenikinju, said, “What the government should do is that they need to reduce their dependence on oil because oil will continue to transmit shocks and volatility to the revenue system.

“And as much as possible, the executive and the legislature should work together to create a benchmark price for oil that is realistic; it shouldn’t be set arbitrarily. In other words, they should be more realistic in projecting oil price to mitigate the volatility on that side.

“By expanding our revenue base this will enable us fund capital projects that are critical to a developing economy like ours.”

Another expert and the Chairman Chartered Institute of Bankers of Nigeria, Prof. Uche Uwaleke, lamented that whenever the government recorded a revenue shortfall, the capital component of the budget suffered while the recurrent expenditure was prioritised.

He said, “Prioritising capital projects will create job opportunities, reduce unemployment, reduce inflation via increased output, enhance ease of doing business and foreign investments, and strengthen the naira value.

“In short, doing so will facilitate economic growth and development generally.”

4 July 2021
FG Halts N22bn Aviation Palliative To Stakeholders

The Federal Government has put on hold its promise to the aviation sector as N22bn palliative meant to sustain the sector remains unpaid.

The government had last year pledged its support to the sector by announcing a sum of N27bn to help sustain the sector amid the impact of the COVID-19 pandemic.

It was gathered that only N5bn had been disbursed to some stakeholders while others were yet to receive any funds.

The Assistant Secretary for Aviation Safety Round Table, Olumide Ohunayo, in his recent presentation at the Airport Business Summit, had called for transparency in the sector.

In an interview with our correspondent, the aviation analyst said the total amount of money allocated to the aviation sector was N27bn but only N5bn had been disbursed.

He said “We have an outstanding payment of N22bn. The minister said the N22bn is still with the government agency. There is a problem with keeping the sum of N22bn for a national carrier when the objective of that money is to help these organisations.

“The idea of the fund is to save existing jobs and organisations. There are many organisations that need these funds due to the fallout of COVID. The US had their own and ensured that there was fairness in the distribution of their funds to all organisations.”

According to him, there were steps put in place in the US to monitor the disbursement to ensure that no company pay excess money to their executives, declare insolvency or sack workers.

“In Nigeria, nobody monitored if the money was properly disbursed. It was some airlines who came out to say that they did not get part of the money disbursed,” he added.

When contacted, the Director, Public Affairs, Federal Ministry of Aviation, James Oduadu, told our correspondent that the N22bn had not been released by the Federal Government to the ministry.

He said the N22bn was not meant for the national carrier alone but also to help other agencies under the ministry.

He said, “The N22bn has not been released at all to the ministry. It is not just for the national carrier; it is also meant as palliative to the agencies under the ministry. Other agencies are meant to get from the balance of the money from the Federal Government which has not been released.”

He noted that some of the agencies had yet to recover fully from the impact of the pandemic.

“The agencies are still struggling to meet up their obligation, especially in terms of payment of salary, allowances and others. Their revenue generation had not stabilised; so when they get the palliative, it would help to stabilise them,” he added.

4 July 2021
Muda Yusuf Bows Out of LCCI

The Director-General, Lagos Chamber of Commerce and industry (LCCI), Dr Muda Yusuf has bowed out of the Chamber.

This follows his retirement on the expiration of his tenure of office, having meritoriously served the Chamber for a total of 24 years with the last 13 years being in the capacity of Director General.

Dr Chinyere Almona has been appointed to take over from him.

LCCI, in a statement signed by LCCI President, Mrs Tiki Mabogunje described Dr Muda Yusuf as an astute economist of repute who joined the services of the Chamber over two decades ago and rose to become its Director-General through hard work and unrivalled dedication to duty.

According her, Dr Yusuf is a respected public commentator on macroeconomic issues, regulatory environment, economic reforms, policy and institutional reforms, trade policy issues and investment climate matters. He has led numerous policy reform and engagement sessions on the business environment, investment climate issues and the ease of doing business in Nigeria’.

The LCCI president said Dr. Yusuf will surely be missed by staff, members of the Chamber, partners, collaborators, the diplomatic community, and stakeholders in the media space for his sound economic and analytical prowess, which has contributed immensely to the effectiveness of public policy advocacy and the development of the economy.

According to her, though Yusuf has retired from LCCI, he is definitely not tired of contributing his quota to the prosperity of Nigeria, as the economic powerhouse of the African continent. “We shall continue to benefit from his expertise as he moves to the next stage of his endeavours,” she said.

She said the appointment of Dr. Almona is an added value to the well-established profile of the Chamber.

According to her, the new DG holds a Doctorate Degree in Business Administration from Business School Netherlands and brings with her, about 30 years of diversified experience through her various work experience roles.

According to the LCCI , in her previous position, Almona led the Africa Corporate Governance Programme of the International Finance Corporation (IFC), which provided a wide range of corporate governance reforms across 13 African countries.

She said as a published author, and an international speaker, the new DG will further transform and reposition the Chamber, in this season of the ‘new normal’, and enable it to maintain its position as a leading voice of the organised private.

2 July 2021
Stanbic IBTC Bank Nigeria PMI: New order Growth Quickens to 17-Month High in June

June data revealed a positive end to the first half of 2021 with a solid expansion recorded in the Nigerian private sector. Greater client demand in both domestic and international markets led to a sharp and accelerated rise in new orders. That said, output, purchasing and employment growth softened during the month.

Meanwhile, firms reduced their backlogs at the second most marked rate in the series. Sentiment regarding output in the year ahead was weak in the context of the historical average, but firms continued to foresee a rise in output by June 2022. On the price front, overall input price inflation was robust, but eased to the softest since December 2020 despite a sharper rise in purchase costs.

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 53.6 in June, down from 54.4 in May, the headline PMI registered a solid rate of growth, but one which moderated from May’s nine-month peak. The latest uptick extended the period of expansion to 12 consecutive months, however. New order inflows rose strongly in June, with the pace of expansion quickening to the fastest since January 2020. Greater client demand was often mentioned by respondents.

International demand for Nigerian goods and services also increased, and at the fourth-quickest rate in the series. Although client demand rose at a sharp and accelerated pace, output growth moderated in June. The rate of expansion was still solid but posted below the long-run series average. Sector data revealed services recorded the sharpest increase in activity followed by wholesale & retail and manufacturing respectively. Agriculture meanwhile registered a fractional rise. To support higher output, firms engaged in buying activity with growth now seen in each month since July 2020. Inventories also rose at a similar pace, though the rate of expansion softened in both.

Workforce numbers rose marginally in June, which coincided with only a slight rise in staff costs. Amid efforts to keep on top of outstanding business, backlogs fell at the second most marked rate in the series, surpassed only by that seen in February. On the price front, higher raw material costs underpinned a rise in purchase prices which quickened to a three-month high. Overall input prices rose sharply, though at the softest rate since December 2020. Higher prices were passed on to clients, with the rate of charge inflation robust overall.

Finally, firms remain optimistic about their output prospects over the year ahead, but the degree of positivity was far below the series average in June.

2 July 2021
Guaranty Trust Bank Dedicates New Training Complex to Memory of Co-founder Tayo Aderinokun

Ten years after the passing of the co-founder and former Managing Director of Guaranty Trust Bank, Mr Tayo Aderinokun MFR, the leading financial institution has opened its new Training Complex at Abeokuta in his name.

The Complex was commissioned on Thursday, June 24, 2021, and will be known as “Tayo’s Plaza.”

Mr Tayo Aderinokun MFR was one of Africa’s most influential and renowned bankers.

Born in 1955, his passion for excellence, entrepreneurial acumen and dedication to service led to his co-founding of Guaranty Trust Bank in 1990.

He became the Managing Director of the Bank in August 2002, leading it to the enviable position of one of Nigeria’s best managed financial institutions until his passing on Tuesday, June 14th 2011.

L – R: Mr Segun Agbaje, CEO, Guaranty Trust Bank; Mode Aderinokun, Daughter of Late Tayo Aderinokun, Co-founder of GTBank; Senator Ibikunle Amosun, former Governor of Ogun State; Mrs Osaretin Demuren, Outgoing Chairman, GTBank; Mr. Olamilekan Adegbite, Minister of Mines and Steel Development and Mr Tokunbo Talabi, Secretary to Ogun State Government at the Commissioning of the new GTBank Training Complex in Abeokuta named Tayo’s Plaza in commemoration of the 10th memorial of Aderinokun’s demise recently in Abeokuta, Ogun State

Situated in the tranquil city of Abeokuta, Ogun State, Tayo’s Plaza houses an 8 storey training complex that includes 105 ensuite residential rooms, half a dozen lecture halls, two fully equipped libraries, an amphitheatre and a banking hall with 24 teller terminals amongst other facilities.

All entrants to Guaranty Trust will now pass through Tayo’s Plaza, where they will undergo an intensive screening and extensive onboarding programme on delivering the best customer experience in financial services.

Commenting on the opening of Tayo’s Plaza, the Managing Director and Chief Executive Officer of Guaranty Trust Bank, Segun Agbaje, said, “Through our new training complex, we will continue to nurture and empower young people to think critically and break new grounds in excellence.”

Renowned for its forward-thinking approach to financial services and customer engagement, Guaranty Trust Bank was recently ranked Africa’s Most Admired Finance Brand in the 10th-anniversary rankings of Brand Africa 100: Africa’s Best Brands, the pre-eminent survey and ranking of the Top 100 admired brands in Africa.

In 2020, the Bank was awarded the Best Bank in Nigeria by Euromoney Magazine for a record-extending tenth time and the Euromoney Excellence in Leadership Africa Award for its swift reaction in responding to the Covid-19 crisis and for addressing the impact of the pandemic on its customers and communities.

2 July 2021
LG Electronics Offers Smart HVAC Solution

…focuses on African Market

Companies that provide heating, ventilation and air conditioning (HVAC) solutions know it’s crucial to offer products that meet the climate control needs of the respective audiences.

LG Electronics has its Multi V system available in the African markets and representatives say it’s ideal for the region, especially considering that some areas get temperatures upwards of 120 degrees Fahrenheit.

LG designs its Multi V unit to address the needs of commercial clients, such as apartment building managers or people who oversee office complexes.

Customizable Coolness for Each Room

The Multi V is a variable refrigerant flow (VRF) system, which means it uses refrigerant for both heating and cooling purposes. A VRF system has an outdoor condenser unit, then an indoor unit in each room requiring climate control. Manipulating the flow of refrigerant solution through the evaporator coils of the indoor units keeps each room at the desired temperature while using less energy than traditional systems that circulate chilled air or water through ducts in a building. VRF systems still rely on air or water for cooling, but the changeable flow of the refrigerant results in energy-saving benefits. More specifically, they are 20-30% more efficient than conventional HVAC systems.

Standout Qualities of the System

Besides Multi V being a VRF system offering the benefits above, LG engineered specific perks that make these HVAC systems superior to others available to buy. The LG Multi V family of products includes numerous units, and the brand calls attention to the high-tech inverters. They provide maximum efficiency at both full and partial loads.

Additionally, LG discusses the Multi V as a “total HVAC solution.” Many of the notable qualities of the system relate to its sensor technology. For example, there is a dual sensing control that detects both the temperature and humidity in the environment and adjusts accordingly. And, the data from the temperature and humidity sensors relates to a smart load control feature that manages the cooling load for increased energy efficiency based on the conditions.

There is also a Comfort Cooling setting. Once an operator activates it, the system transitions into a “mild cooling” mode without stopping to switch to the lower setting.

Suitable for the Smart Energy Trend

As mentioned earlier, some of the countries within the African and Middle Eastern markets set energy efficiency targets to meet within approximately the next decade. LG believes its Multi V technology will be instrumental in helping those nations reach their goals, particularly because it uses smart technology. Smart HVAC systems collectively represent one of the top trends in the HVAC industry at large. Residential and corporate customers alike appreciate them since the intelligent aspects of such a setup offer benefits such as repair notifications that let users know when it’s time to make service calls. Some units even schedule those appointments automatically. Also, sensors, like the ones LG incorporates into its units, enable self-regulation of HVAC units. They trigger the equipment regarding when and where to operate in a building.

Compatible With a Smart Energy Interface

Customers using a Multi V HVAC system can take advantage of a complimentary intelligent system called Building Energy Control, or BECON. There are reportedly several sites in the Middle Eastern and African regions using BECON for smart energy management. BECON is a cloud-based, Internet of Things (IoT) platform.

Its energy scan feature takes data from all the respective sensors and gives detailed energy usage statuses related to a building’s zones, floors or other parameters. It can also provide a future operation guide that instructs users on how to save energy while continuing to consider the comfort of the occupants.

BECON has diagnostic capabilities too. It looks at past and present data to spot abnormal patterns within it. The technology can also use that information to solve problems associated with equipment in a facility.

When BECON users want to see the impacts of various changes they could make to an HVAC system’s settings, BECON offers simulations that take things such as weather information, past usage and customer preferences about comfort versus efficiency into account.

Comfort and Conservation Combined

LG seems committed to offering its customers solutions that keep them comfortable in extreme temperatures without wasting energy. The Multi V is an excellent example of a system that incorporates several smart features that align with modern energy needs. This system and others similar to it will likely continue to gain momentum, especially with a renewed focus on climate change mitigation and energy efficiency in many parts of the world.

Inside VRF HVAC Systems

At the heart of any building is its HVAC system—that essential collection of compressors, coils, fans, and controls that has such a hand to play in energy costs, air quality, and occupant comfort. LG Air Conditioning Technologies understands this, and when it comes to perfecting all three, it’s hard to beat their LG MULTI VTM VRF series.

VRF—or Variable Refrigerant Flow—systems differ from traditional HVAC solutions in a few key ways. Most importantly, their fans and compressors run on inverter motors attached to computerized control systems, meaning their speed can be precisely controlled. In essence, rather than merely flipping on and off like a typical AC unit, the inverter technology enables VRF systems to respond in real-time to changing conditions in a space and adapt accordingly.

“Imagine a time when you reached for your thermostat to shut off a blast of frigid air only to find the room too warm five minutes later.”

VRFs can even use heat recovered from one room to warm another, an ability that makes for particularly energy-efficient operations in hospitality settings and multi-family housing. A VRF system is up to the task when it comes to pricing, VRF systems may initially appear more expensive, but when life-cycle energy savings and total building expenditures are taken into account, they quickly prove themselves to be the more affordable option. Take, for example, the construction costs incurred by a chilled water system, which requires heavy structural steel and concrete in order to support, or the ductwork utilized by a simple rooftop system, which can take up two to three feet of space between each floor of a building. By contrast, a typical refrigerant line used by a VRF is a mere two to three inches in diameter, allowing for significantly greater architectural flexibility. With the superior performance, comfort, and energy savings VRFs offer, General Manager of the Air Solution Division, LG Electronics West African Operation, Mr. Jung June Yoon says they’re a bit like the Ferraris of the HVAC world—streamlined, powerful, and flawlessly engineered.

1 July 2021
NITDA DG Commends Jumia for Creating Thousands of Jobs in 9 Years

It has been nine years of e-commerce service in Nigeria and Africa in general, with Jumia being the foremost player in the industry.

In his congratulatory message to Jumia in commemoration of her 9th anniversary, Director General of National Information Technology Development Agency (NITDA), Kashifu Abdullahi, commended the company for creating jobs for thousands of Nigerians through its operations in the digital economy ecosystem.

Abdullahi stated that Jumia has had an impressive nine years of e-commerce journey which has seen it expand to several African countries, creating employment opportunities and becoming a good reference for innovative startups on the continent.

He said: “For me honestly, it’s an impressive journey. Jumia started as a startup and in very little time you expanded your operations to many African countries and became the first unicorn company in Africa and you are still expanding.

“These are the kind of startups we are encouraging to try and be an innovation driven enterprise. You look at the global market and huge capital investment and job creation. And also you are innovative and creating a lot of jobs in the ecosystem. Aside from the logistics, I think you have an ecosystem you are working on. So those are the kinds of innovation we encourage our startups with; innovation that creates jobs, wealth and prosperity for all. So I wish you more successful years ahead and congratulations for your 9th anniversary.”

Adbullahi also touched on the impact of e-commerce on everyday life and its crucial space in the digital economy.

“The most profound impact for me is how it makes life more convenient and less disturbing. Before covid, a lot of people didn’t like using online services. When covid came, we were disrupted and the only way to keep going was these online services. E-commerce is critical to any online services or digital economy because when you consume a service, you need to make a payment and you can only do that through e-commerce,” he said.

In its nine years of operation, Jumia has also connected over 11,000 SMEs and brands to millions of consumers in Nigeria, boosted hundreds of independent logistics companies by incorporating them into the Jumia logistics network, and empowered many women-owned businesses through various empowerment initiatives.

30 June 2021
How LG Refrigerators Deliver Smarter Culinary Life and More Hygienic Food Management

Few will likely name the unassuming refrigerator as the item in the home that has transformed family life. But refrigerator innovation over the past 60 years has transformed this appliance from a lowly kitchen box to become highly functional, ergonomic and environmentally-friendly product that it is today.

With the technological advancements in today’s refrigerators, consumers have come to hold these products to a higher standard. And to meet the expectations of today’s demanding consumers, appliance makers are focusing more than ever on enhancing convenience by improving usability and accessibility.

Appliances are evolving to suit consumer needs as they appear, and the most innovative manufacturers are the ones that are able to predict user trends and meet their demands before they arise. Time and time again, LG Electronics has established a reputation as a company that is unafraid to push the boundaries of innovation and challenge convention. Its dedication to consistently work to bring convenience-enhancing features to consumers has resulted in a number of breakout products including the Home Bar and the InstaView Door-in-Door™ with Inverter Linear Compressor to boost overall energy efficiency and performance.

LG Electronics is helping consumers realize their dream kitchens with the InstaView™ Door-in-Door™ refrigerator with UVnano and NeoChef Microwave. Adding to an already comprehensive list of features, these new kitchen appliance models demonstrate LG’s commitment to giving consumers more choice and helping them to live their best hygienic, culinary lives. LG’s newest kitchen innovation uses the power of light to improve health and hygiene.

LG manufactures LG`s own compressor based on durability and high technology. Now we present 10-year warranty not only Inverter Linear compressor but also Inverter, Recipro compressor with our reliable technology. Compressor of the product is made by LG and we manufacture compressors in LG’s own facility. It`s hard to find the brand which manufactures compressors by themselves though.

LG InstaView Door-in-Door refrigerator with UVnano utilizes ultraviolet LED light technology to remove up to 99.99 percent of bacteria and viruses. Featuring LINEAR Cooling™ and Door Cooling+™, the InstaView creates optimal conditions for fresher food. LINEAR Cooling minimizes temperature fluctuations which is the primary culprit of food spoilage and for more precise control, while Door Cooling+ evenly cools the entire refrigerator by distributing powerful airflow from strategically placed vents.

The unique “Smart Inverter” technology at the heart of LG NeoChef microwave takes the guesswork out of microwaving by delivering precise power for consistent cooking, reheating and defrosting. Unlike ordinary microwaves that alternate blasts of full power or no power until the timer goes off, LG NeoChef uses precise, variable power control between 300 to 1,200 watts to evenly cook or defrost food – helping to eliminate dreaded cold centers and overcooked edges. Plus, its humidity-sensing technology determines when food is cooked and automatically turns off the microwave to help prevent the over- or under-cooking of meals.

According to the General Manager, Home Appliances Division, LG Electronics West African Operations, Mr. Brian Kang said; LG’s iconic InstaView Door-in-Door technology helps to minimize cold air loss and extend food freshness, the LG InstaView panel illuminates the interior of the refrigerator with just two quick knocks on the transparent glass so users can see inside without opening the door, while Door-in-Door technology helps organize everyday favorites for quick and easy access to often-used items without having to open the entire refrigerator.

The NeoChef™ microwave is equipped with an easy and intuitive UI for enhanced user-convenience. The glossy front panel combined with a refined matte exterior highlights the minimalistic design which allows the NeoChef to seamlessly blend in with the décor of any kitchen. Moreover, LG’s Smart Inverter technology reduces cooking time while making it easier for home chefs to create tastier, healthier dishes.

The technology’s linear power control ensures that food can be reheated or defrosted more evenly, also contributing to lower cooking times. The Smart Inverter also allows for creative uses, such as yogurt making, melting chocolate or butter and dough proofing. The Anti-Bacterial EasyClean™ Coating inside NeoChef eliminates 99.99 percent2 of harmful bacteria with just three wipes; he said.

“For many families, the kitchen is one of the busiest rooms in the house, and a place where they often find their hands tied. Now consumers have even more convenience in their homes, all just by using the Wi-Fi-enabled features directly on the refrigerator, connecting on their mobile phone via LG ThinQ App. If the kitchen’s the heart of the home, LG smart refrigerators with ThinQ® are the hub of the family!

They help keep your kitchen, and your life, running more smoothly so you can manage it all—while keeping your cool. Our refrigerators are powered with LG’s intuitively smart ThinQ® technology, which means it goes beyond just being a fridge, to helping you manage your entire kitchen, home and life. Everything about the mobile app is easy to understand and use. Just a few clicks help personalize the app to your preferences and needs. It incorporates artificial intelligence so it can learn your habits and then adapt to suit those. The technology also monitors the energy consumption of your LG appliances to help adjust for the most efficient use

While LG Refrigerators and Neo-Chef Microwaves qualifies for the ENERGY STAR rating, In the long run, you’ll be able to get a significant return for this investment in terms of savings on your energy bill. Plus, it feels good knowing you are helping the environment by lowering your energy consumption.

NeoChef Microwave Oven has Inverter Technology that has enhanced it for better, faster, more efficient cooking performance while saving time and conserving energy at the same time.

29 June 2021
Crusaders Club Holds National Convention, Urges Nigerians To Embrace Peace

A socio-cultural organization, the Crusaders Club of Nigeria, has urged Nigerians to eschew ethnic, religious, political and tribal differences and close ranks with the government and security agencies in the bid in returning peace to the country.

Speaking on the sidelines during the 2021 National Convention of the Club held at Royal View Hotel in Lagos recently, the General Overseer (G.O) of the Club, Chief Nonso Onwuamaegbu said the situation in the country calls for concerted efforts and patriotism on the part of political leaders.

“The situation in the country is much tensed not because it is man-made; it is ethnic and tribal-induced. What Nigeria needs is peace, and we need leaders to start preaching peace instead of making divisive comments. We need ethnic groups to underscore the need to work in synergy to bring peace back to Nigeria.

“Nigeria’s biggest problem now is that we have ethnic and sectional leaders who believe more on their ethnic nationalities than in the unity and greatness of the Nigerian nation. Nigeria does not need leaders who believe in the superiority of their ethnic groups above the Nigerian nation. We need cooperation and unity in Nigeria,” Onwuamaegbu said.

On the activities of Crusaders Club of Nigeria, the G.O. said the Club has a lot of programmes it plans to embark upon that would impact on the larger society. “We have programmes in the areas of welfare, education, hospitality, and health, depending on the priorities attached to those programmes,” he said.

L-R: Mr. Nonso Onwuamaegbu, General Overseer; Chief Chinedu Ndukwe, member; and Barrister Tahill Ochi, founding member, all of Crusaders Club of Nigeria during their 2021 National Convention held in Lagos recently

Onwuamaegbu noted that the Convention was a rebirth of a world-class Club that began on a high note and with great enthusiasm but somewhere along the line, lost the steam as a result of contact loss amongst members.

“We founded this Club when we were virtually nothing in the society but now, by the grace of God, we have grown and are all doing well in our various fields of endeavour and therefore, are ready to take the bull by the horns. It’s a Club borne out of the desire to offer help to each other. We are happy to have this number of people in attendance at the meeting today.

“We have currently as members, accomplished people in their various fields of endeavours. We expect that in the next five years, Crusaders Club will assume its rightful place in Nigeria, producing or help in producing the kind of leaders we are all craving for in the country,” Onwuamaegbu said.

In a similar vein, a founding member of the Club and Chief host of this year’s Convention, Barrister Tahill Ochi described Crusaders Club as a group of like minds who came together over 20 years ago as friends with the sole purpose of helping each other in their businesses and life endeavours.

Cross section of members of Crusaders Club of Nigeria during their 2021 National Convention held in Lagos

“Crusaders Club is a group of like minds who came together some 20+ years ago and started talking about how to help ourselves, and we have been doing that over the years. We are happy that we have come together once more. Some people have not seen each other in the last 20 years but you can see the massive number that came for this Convention today.

“After the birth of this Club, everybody left in search of something better to build their lives. Some went into politics, some into business and some went into government. Thank God to social media that made it possible for us to begin to re-establish contacts. And that is what has culminated today in what you see as the Convention.

“We have come back again and we are going to look at all areas of cooperation, to see how we can help each other. We are saying today that we just need to come together and find ways we can help each other grow in our businesses; that’s the message here today,” Ochi said.

On where the Club will be in the next five years, Ochi who is a former local government chairman was upbeat about the future of the Club especially in the area of making available the human resources needed to fill in the leadership positions required in the country.

“We expect to see this Club produce governors, senators, and leading business tycoons across the country. What we are actually doing in this Club too is to raise the consciousness of our members for them to know that there is a need to serve the people, not just about money,” he said.

Ochi disclosed that as a socio-cultural Club, it is going to address the nation soon and proffer its own solutions to the avalanche of insecurity challenges bedeviling the country, noting that insecurity in the country did not start today.

“Insecurity did not start in Nigeria today, something caused it. There is poverty, lack of education, unemployment all over the country; and these are some of the factors responsible for insecurity in the country. Nigeria has derailed for a very long time. But we shall certainly offer our own help to curb it or possibly eliminate it.

“The fight against insecurity should start from our families, our communities because we know ourselves better. Criminals come from somewhere, not from heaven. Therefore, traditional rulers, community leaders, and political leaders have a lot to do because all of us should be involved in the fight against insecurity,” Ochi stated.

The 2021 Convention of Crusaders Club of Nigeria was attended by members drawn from all parts of the country as well as their members in the diaspora, friends, and well-wishers.

28 June 2021