The second edition of the National Consumers Value Awards; is scheduled for 7th September 2023 at the Radisson Blu Hotel. The annual event will bring together brand owners across various sectors of the economy based on the successful three months of voting for over three hundred brands. Fifty-two brands have earned the badge of honours from the Voting of the consumers on the portal. The sectors Cement, Lubricant, Telecommunications, Seasoning, and Pasta are some of the categories while other categories are Hair Synthetic, Multivitamin, Malt drinks and paints. Other categories are Fintech, Smartphones, Airlines, automobiles, cooking salt, Toothpaste, Sugar, Milk,…
Author: Elvis Eromosele
GlaxoSmithKline Consumer GSK UK Group Plc has concluded plans to shut down its operations in Nigeria. GSK Nigeria, in a statement signed by its Company Secretary, Frederick Ichekwai to the Nigerian Exchange Limited, NGX on Thursday disclosed that its parent company, GSK Plc UK, had revealed its intent to cease commercialisation of its prescription medicines and vaccines through its Nigerian subsidiary. According to the statement,” In our published Q2 results we disclosed that the GSK UK Group has informed GlaxoSmithKline Consumer Nigeria PLC of its strategic intent to cease commercialization of its prescription medicines and vaccines in Nigeria through the…
The Federal Government through the Federal Competition and Consumer Protection Commission has given digital money lenders five days to prove they are operating within its set guidelines. It also asked Google to remove 18 digital lenders from Playstore for violations of its guidelines. According to the FCCPC, compliance with its guidelines was now mandatory, and failure to do so was a violation of the law. According to the commission, the 18 digital money lenders that it delisted, and asked Google to delete, were either operating without regulatory approval or in violation of the Limited Interim Regulatory/Registration Framework and Guidelines for…
The Debt Management Office (DMO) of the Presidency has announced the listing of N130 billion sovereign sukuk on the Nigerian Exchange and FMDQ starting on August 8, 2023. This was disclosed in a statement from the debt management office. The listing of this security follows the successful oversubscription of the N100 billion opened in November 2022. This current listing is geared towards accommodating the needs of investors towards the facility. According to the statement, “The sovereign sukuk was opened for subscription in November 2022, with an initial of N100 billion however, it garnered immense interest from investors with a remarkable subscription…
The nation’s pension fund assets rose significantly, in the first half of 2023, precisely, by N1.7 trillion from N14.99 trillion in December 2022 to N16.76 trillion at the end of June 2023. This is even as 146,920 new pension contributors joined the scheme in the first half of 2023. Aisha Dahir-Umar, Director General, National Pension Commission(PenCom), made the disclosure at the 2023 Journalists’ Conference, in Lagos Thursday. Dahir-Umar, who was represented by the head, Corporate Communications of the commission, Abdulqadir Dahiru, noted that pension fund membership had also increased by 146,920 new contributors, from 9.86 million members as of the…
Elvis Eromosele In today’s fast-paced world, consumers are the driving force behind any successful business. They invest their hard-earned money in goods and services with the expectation of a satisfactory experience. However, not all brands live up to their promises, leaving consumers disappointed and disheartened. Addressing this issue, BrandXchange, an innovative platform, has taken the bold step of empowering Nigerian consumers to give feedback on brands across various categories. Through their Consumer Value Awards (CVA) program, consumers now have a voice in determining the value of brands in 2023. BrandXchange’s initiative seeks, in the short term, to protect consumers and…
Following their progression to the round of 16 at the ongoing Women’s World Cup in Australia and New Zealand on Monday, the entire 23-woman Super Falcons squad are guaranteed $1,380,000 (N1,062,600,000, as at Monday’s exchange rate) as prize money from world body FIFA for the biggest edition of the tournament. The Nigerians booked their spot in the round of 16 of the competition for the third time in nine appearances after a goalless draw against the Republic of Ireland in their last group game on Monday to place second behind co-hosts Australia in Group B. Randy Waldrum’s ladies finished with…
The Business Journal weekly online newspaper will commence publication from Monday, August 7, 2023. The weekly online newspaper will complement the existing Business Journal daily digital platform and the Business Journal monthly magazine in a move designed to have the Business Journal Media Group operating effectively in three (3) media formats: Daily-Weekly-Monthly! The weekly online newspaper will focus on key sectors of the Nigerian economy such as Banking & Finance, Energy (Oil & Gas, Power), Insurance & Pension, Telecom & IT, Capital Market, Maritime, Literature, Sports Business, HealthCare, AgriBusiness, Manufacturing, Politics & Policy, Small Business (MSMEs), Travel & Tourism, The…
By Elvis Eromosele In today’s interconnected and competitive global landscape, effective Public Relations (PR) has emerged as a powerful tool in shaping the perception of nations and their economies. In the context of Nigeria, a vibrant and resource-rich nation with immense potential, PR practitioners have a unique opportunity to make a significant contribution to its economic growth and development. By strategically crafting and disseminating messages that highlight Nigeria’s strengths, address challenges, and promote investment opportunities, PR professionals can foster a positive environment conducive to sustainable economic growth. Nigeria, the most populous country in Africa, is endowed with vast natural resources,…
MTN Nigeria has reported that the naira devaluation also impeded the company’s financial growth in the second quarter of 2023. In a comment included in its second quarter of the financial statement released on Friday, MTN Nigeria disclosed it recorded an unrealised forex loss of N131.5 billion. This increased by N117.9 billion or 866.9 per cent compared to the N13.6 billion forex loss reported in the first half of 2022. “Net finance costs increased by 164.3 per cent due to increased borrowings and an unrealised forex loss of N131.5 billion (H1 2022: N13.6 billion) on our net foreign currency liabilities following…