Author: The Nation

• As operators birth association to claim $80b market

The potential of the Nigerian dry-cleaning industry is huge, with growth rate estimated at 6.4 per cent yearly, the Managing Director/Chief Executive Officer, Greenwich Merchant Bank, Mr. Bayo Rotimi, has said.

He said what professionals in the dry-cleaning and fabricare business need to do to unleash this huge potential and claim a chunk of the global dry-cleaning industry valued at $80 billion is to embrace effective collaboration.

Rotimi, an investment banking professional with over 29 years’ experience, spoke in Lagos, at the launch of Fabricare Professionals and Drycleaners Association (FPDA), with the theme, “Raising Global Champions in the dry-cleaning Industry in Nigeria.” 

Rotimi, who was the keynote speaker at the event sponsored by LG Electronics, harped on the need for various players within the dry-cleaning and fabricare ecosystem to collaborate and determine, which part of the value chain they wish to operate in.

He said the business environment is harsh and fraught with numerous challenges such as policy inconsistency, acute power shortage, and multiple taxation, among others. He, however, said most, if not all the challenges, are surmountable if operators collaborate.

According to him, the opportunity for mentorship and to network and connect with other industry professionals and gain more knowledge and benefit from the wealth of experience of other industry giants are some of the obvious benefits of such collaboration.  

The management of  Nigerian Breweries Plc, has said the bond between Amstel Malta and Zagg Energy drink and consumers, is the reason the two brands threw their weight behind  the Ninth Africa Magic Viewers’ Choice Awards (AMVCAs).

According to a statement by the breweries giant, the premium malt drink, Amstel Malta, and Zagg, a blend of Energy and Malt flavour, joined forces to add glitz and glamour to the entertainment platform to give Nigerians satisfaction.

According to the statement, “This dynamic collaboration marks an exhilarating milestone in both brands’ relentless commitment to fueling the African entertainment industry with unmatched excitement’’.

The AMVCAs, Africa’s pinnacle celebration of cinematic brilliance, are set to embark on a journey of unrivaled splendour and recognition of exceptional talent. With Amstel Malta and ZaggEnergy+Malt as official sponsors, the Ninth Edition would remain an unforgettable extravaganza that will leave audiences spellbound and craving for more.”

It further stated that Amstel Malta, renowned for its rich heritage and unwavering pursuit of excellence, epitomises the essence of the AMVCAs—an unwavering celebration of African creativity. As the official headline sponsor, Amstel Malta was said to have shone the spotlight on the wonderful masterpieces created by established and upcoming creatives.

Stressing on the relevance of Zagg Energy +Malt, to the annual event, the company stated that the trailblazing energy brand with a difference that pulsates with relentless energy and dynamism, electrified the AMVCAs as the official energy drink sponsor. Infused with an invigorating Naija spirit, Zagg Energy +Malt was also said to have propelled the event to stratospheric heights, leaving attendees enthralled, and captivated by the magic of African entertainment.

The Ninth Edition of the AMVCAs held between Thursday and Saturday, offered unparalleled celebration of the African entertainment industry, with star-studded guests, mesmerizing performances, and the recognition of exceptional talent.

Marketing Director, Nigerian Breweries Plc, Emmanuel Oriakhi disclosed that Amstel Malta and Zagg Energy +Malt were not just sponsors but catalysts that ignited a passion for creativity that transcended boundaries and elevated African cinema to unprecedented levels.

“The African creative industry has experienced tremendous growth in the past decade. However, the industry’s intense saturation has made it difficult for creatives who haven’t found their way to the spotlight to have their art appreciated. Therefore, at this year’s Awards, Amstel Malta— is saying, “It is time for the spotlight.” Oriakhi stated.

“As we have done over the past years, we are exceedingly proud to partner with the Africa Magic Viewers’ Choice Awards to shine the spotlight on the wonderful masterpieces created by established and upcoming creatives” he added.

Technology-enabled automotive trading platform Cars45, powered by Africa’s e-commerce giant Jiji, has signed a partnership deal with Chinese automobile company GAC Motors, to encourage more Nigerians to become owners of quality, affordable cars.

At the signing ceremony held at GAC Motors Experience Showroom in Lagos,  officials of both companies described the partnership as ”strategic and revolutionary,” noting that it represented “the next phase for the Nigerian automobile industry.”

According to them, the new partnership between Cars45 with Jiji, and GAC Motors, will provide Nigerians easier access to quality and affordable cars.

The General Manager (GM), Commercial and Group Communications, GAC Motors, Jubril Arogundade, said a project called swap had been launched to create a platform for people using GAC cars, over the years, to bring their cars back and swap them with new ones.

He explained that under the project, cars that customers will bring back to swap will be evaluated by Cars45 such cars will go on the Cars45 platform and users of vehicles in Nigeria will be able to purchase them on the Cars45 platform.

“So, what we are doing, under this partnership, is making sure that every household has a GAC car, either a brand new car or a used car,” Arogundade said, adding that the essence was to create a market where a brand new car sold here in Nigeria, the second hand value of that same car is also sold in Nigeria.

“So, the car that we are selling to you as a brand new car today, in two years’ time, will be sold to somebody else as a used car within the same ecosystem. This is revolutionary and we believe that this is the next phase for the automobile industry.

“We are very proud to be doing this with Cars45 and their parent company, Jiji, to make sure that you enjoy GAC cars. The functionalities and the specs of GAC cars cannot be overemphasized, Arogundade said,

The GM of GAC Motors pointed out that the benefit of the partnership and the swap arrangement is obvious, as will help conserve foreign exchange. “What this will do is that we keep our money within Nigeria and grow the Gross Domestic Product (GDP) of this country and the economy of Nigeria,” he said.

He further said the partnership between Cars45 and their owner, Jiji, with GAC Motors was a milestone, in the sense that it will create a disruptive sales and marketing opportunity for automobile, the first of its kind in Nigeria.

“The Jiji platform and the Cars45 platform are reliable and formidable platforms in the e-commerce space. Everybody trusts Cars45 when you want to talk about buying a used car. It will almost be impossible for us to get to the target customer if we rely only on the physical shops that we have across the nation.

“So, in this light, we decided to partner with the giant in the e-commerce space and foremost automobile trading platform which is Cars45 to be able to come on that platform and provide you the opportunity to buy GAC cars,” Arogundade stated.     

For the Chief Operating Officer (COO), Cars45/Head of IR, Jiji, Maxim Markarchuk, the partnership between Cars45 and GAC Motors was “a momentous step forward in our mission to transform the automotive industry and provide unparalleled services to our customers.”

He said Cars45 was excited about the limitless possibilities that lie ahead as both companies combine their strengths and expertise to create an even better car buying and selling experience. “Together, we will continue to uphold our commitment to transparency, convenience and customer satisfaction, setting new benchmarks in the industry,” Maxim said.

Maxim said Cars45 is a leading automotive technology company that has been revolutionizing the way people buy and sell used cars in Nigeria. According to him, Jiji has, over the last few years since it acquired Cars45, been fulfilling the company’s main niche.

He said, for instance, that Cars45 and Jiji platform boast an extensive network covering the whole of Nigeria via their robust online platform visited by 15 million users every month. “We believe that we are in the right position to secure long term and healthy partnership of both our organisations.

“We are thrilled to announce our strategic partnership with GAC Motors, a renowned automobile manufacturer known for its cutting edge technology and innovative designs and commitment to quality,” Maxim said.

According to him, Cars45 is committed to exceptional customer experience, and has earned its reputation for transparent and fair pricing, for instance “We ensure that customers receive fair value for their cars while buyers can trust the accuracy and transparency of our pricing system,” Maxim stated.

Livestock Feeds Plc has donated children’s equipment and hand instrument to Orile-Agege General Hospital (OAGH) as part of continuing efforts to support healthy living and the realisation of Sustainable Development Goals (SDGs).

The equipment and instrument were donated to not less than six departments of the hospital’s paediatric dentistry and paediatric outpatient clinics. OAGH is a community-based hospital that serves one of the largest segments in Lagos State.

Managing Director, Livestock Feeds Plc, Mr. Adegboyega Adedeji said the company was committed to supporting the country in attaining the SDG goals in healthcare and quality living among others.

He said the donation was to support training and capacity-building among healthcare workers as well as provide them with equipment and instrument that enable them to efficiently discharge their responsibilities.

He pointed out that with support such as the Livestock Feeds’ CSR, there would be solutions to some of the country’s healthcare challenges, such as infant morbidity and mortality; thus, leading to improved quality of life generally.

Adedeji said CSR should be designed to bridge gaps in socio-economic needs by the conscientious and deliberate movement of surplus resources to needed areas, as the equipment and instrument donation was another major corporate social responsibility (CSR) commitment from Livestock Feeds.

He said his company uses the scientific method of community sampling to determine where and what to donate in order to align that the company’s CSR aligns with the needs and expectations of the people.

He commended the healthcare workers in Lagos State and charged them to continuously explore ways to improve healthcare delivery in the state in line with the state’s motto as the centre of excellence.

Chief Medical Director, Orile-Agege General Hospital (OAGH), Dr. ‘Sola Pitan, who conducted the Livestock Feeds team on a facility tour of the hospital, said the hospital has seen several remarkable improvements in recent years, which has improved the quality of healthcare delivery.

According to him, over the past two years, several critical areas have been improved, which enabled the hospital to handle the large number of patients patronizing the hospital.

He however sought assistance in other areas such as the accident and emergency unit and theatre that needed to be upgraded in order to further strengthen healthcare operations at OAGH.

Deputy Director, Clinical Services and Team Lead, Quality Improvement Team, Orile-Agege General Hospital, Temitope Bakare, said the hospital and Livestock Feeds have a good relationship and assured that the hospital would continue to partner with well-spirited companies like Livestock Feeds in the quest to uplift Nigerian healthcare system.

She recalled that Livestock Feeds had been part of the sponsors of OAGH’s maiden edition of The School Oral Health Programme in 2022, and has since been supportive of the hospital programmes.

Bakare noted that OAGH’s internal audit and inventory management systems ensure that donations are efficiently used and properly accounted for, a process that made huge positive impressions on donors such as Livestock Feeds, which has since chosen the hospital for three additional CSR programmes within a space of a year.

Cybercriminals are using Operational Technology (OT) as gateways into an organisation’s network, Microsoft has warned.

This comes at a time internet of things (IoT), connections in the region are growing with the global system for mobile communications association (GSMA) said 1.1 billion IoT connections are expected by 2025 in Middle East and North Africa (MENA).

It’s this growth in OT and IoT that has given cybercriminals more opportunities to breach an organisation’s network, according to Microsoft’s Cyber Signals latest report.

The latest edition discovered that converging IT, IoT and OT systems pose a wider risk to critical infrastructure.

The report is a regular cyberthreat intelligence brief spotlighting security trends and insights gathered from Microsoft’s 65 trillion daily security signals and 8,500 security experts.

For CIOs in the Middle East and Africa (MEA), the impact of a possible security breach is top of mind in a complex threat environment. This can be seen in the 11.2 per cent rise in cybersecurity spending in MENA last year.

The growing rate of digital transformation within the African region is facilitating the emergence of new attack vectors and opportunities for cybercriminals.

For Nigerian CIOs, the consequences of a possible security breach is their number one concern as they look to navigate an increasingly complex threat and regulatory landscape. This is according to the Enterprise Security Trends in Nigeria survey, conducted by the IDC and commissioned by Microsoft.

Nigerian organizations realize the importance of developing a proactive approach to security. The IDC survey revealed that 72 per cent of organizations in Nigeria have increased security budgets by 10per cent or more in the last few years.

Speaking on the new report during a webinar, Country Manager for Microsoft Nigeria and Ghana, Ola Williams, said the increase in digital transformation across the region has enabled organizations to manage their buildings, emergency systems and access control with smart devices connected to a network.

“In addition, we have seen an increase in IoT devices in the workplace to better enable hybrid work such as smart conference rooms with microphones and cameras. 

“As the threat landscape continues to expand and become more complex, organizations need to rethink their cyber risk approach to stay one step ahead of would-be attackers. Cyber Signals found that there are currently over 1 million connected devices publicly visible on the internet running Boa, an outdated and unsupported software still widely used in IoT devices and software development kits.

“Organizations are more connected than ever before. From the humble WiFi router to the everyday office printer, IT teams need to view their IoT devices differently and secure them as they would any company laptop to prevent security breaches. Gaining complete visibility of an organization’s OT systems and protecting its IoT solutions will go a long way in preventing cyberattacks, ” she said.

• ALC in Nigeria targets 50 airplanes in seven years

The global aircraft leasing market size is projected to hit $317.5 billion in the next seven years from its value of $172.9 billion.

The projected figure exhibits a Cumulative Annual Growth Rate (CAGR) of nine point one per cent during the forecast period.

Last year, the aircraft leasing market stood at $167.5 billion.

Experts familiar with the trend said the increasing demand for low-cost airlines is a significant factor driving the aircraft leasing market growth.

In Nigeria, airlines running the lowcost are mushrooming forcing operators to approach aircraft lessors for conveniently financed acquisition arrangements.

While some Nigerian carriers are negotiating aircraft purchase with Original Equipment Manufacturers (OEMs) – Boeing, Airbus, Bombardier, Embraer – others are sealing deals with lessors from Europe, Middle East and United States.

To drive participation in the global aircraft leasing market, the   Federal Executive Council , last week granted approval for the establishment of an  indigenous Aviation Leasing Company (ALC) under Private Partnership (PPP).

The company , to be overseen by the  Infrastructure Concession Regulatory Commission (ICRC) , experts say  will alleviate the problems of aircraft/engine leasing, costly lease rates and high insurance premium charges to Nigerian airlines.

Besides, they say the arrangement  will curb  capital flight and the strong demand on foreign exchange.

Investigations reveal that the  ALC will commence operations with leasing  eight  aircraft in its first year of operation and increase the portfolio as it grows to 50 leased aircraft.

The approval was granted following the issuance of Full Business Case (FBC) compliance certificates by the Infrastructure Concession Regulatory Commission (ICRC), the agency statutorily established to regulate PPPs.

Speaking in an interview, an official of the ICRC, Mr  Ifeanyi Nwaoko the  said the ALC  will be executed by Messrs AJW Consortium as concessionaires,  and would seek to provide an opportunity for local leases of aircraft to both domestic and international carriers.

He said : ” “It will facilitate the ease of doing business for foreign lessors with Nigerian domestic airlines being a one-stop-shop thereby limiting capital flight and the strong demand on foreign

“The project will create employment opportunities for Nigerians which will have a multiplier effect on the economy.

“The ALC will provide leasing opportunities for Nigerian and African Airlines to boost their fleet size, alleviate the problems of aircraft leasing and high insurance premium charges, provide an alternative to foreign lessors and introduce competition which would relax the terms and conditions currently obtainable, thereby facilitating growth and development.

 “The ALC will commence  with leasing  eight  aircraft in its first year of operation, increasing the portfolio as it grows to 50 leased aircraft after the seventh year and remains constant at 70 leased aircraft by 2034.

” The ALC , will then start  to purchase aircraft outright  after approximately seven years, once the portfolio exceeds 50 leased aircraft”.

With the Dangote Refinery coming on stream today, the Federal Government has been advised to revisit the issue of vandalised pipeline network linking the depots across the nation.

  If the pipelines are put in place, the government can  ensure that these pipelines are rented, hired or allowed to be used for trucking and moving products up North and across the nation at a fee, which of course, will be another source of revenue for the government.

A chartered accountant, Mr. John Adidi, who gave this advice, said the security of the pipeline network must be a priority to the government.

According to him, it should be done on community basis so that the community takes ownership of the pipeline passing through their land, adding they should as well be motivated to the communities for the maintenance and security of such pipeline network passing through their locations.

Describing it as a good development that has come to Nigeria, the accountant, while applauding the initiative of the Dangote Group for trying to look for a long-time solution to the petroleum product problem, added it would  probably resolve the issue of subsidy.

Adidi urged the government to support the Dangote Company in its first years of their operation through exemption from company income taxes so that it can stabilise.

“If the pipelines are working and they are repaired that may be another way of reducing costs,” Adidi stated.

believing some of the depots will be linked by rail (as Lagos is now linked to rail), adding that may also be a future way of distributing the products to the hinterlands.

“It would have been better if the pipelines that link the depots are put right/repaired so that you can do the trucking and begin to move it to other locations, if they use the petroleum pipeline network across country that would have been much cheaper but some of them have been vandalized.

So if the government can put it right and link to Dangote, Dangote/or whoever that’s buying can pay for the use of government pipeline network which will be another source of revenue to the government”, Adidi further expressed.

He insisted the pipeline network linking the depots as a priority must be repaired and secured so that other big private arrangements on the refinery coming up could be hired out as transmission lines. Then, you charge them transmission fee for product transmission cost or product transmission charges to those who will use them adding that will again be another source of revenue for the nation.

However, expressing fear on the location, Adidi noted the refinery is located very close to the sea and going by the impact of sea on iron there are a lot of things that needed to be checked very often, if not done the maintenance cycle may be shorter because of the environment where it is situated, he added. According to him, when the maintenance is not coming as at when due that will bring about the breakdown of the machineries and plants.

“If there is a breakdown and you have decided to relax solely on them and the plant suddenly breaks down you have to go back to making arrangement for importation. So, unless it’s done and also supported by other modular refineries that are springing up, eventually Nigeria may be lucky to be self-sufficient in petroleum products with all these development we want to see”, Adidi added.

On whether environmental impact analysis was carried out on the plants, Adidi observed when you situate something near the sea and it has iron parts over time there will be corrosion, adding these are issues that may come up later and which will now make us look as if we take one step forward and then two steps backwards.

“If production starts and we start benefiting and everybody is happy and suddenly it stops, it will throw the nation into a very serious problem because may be no arrangement was made as a kind of stopgap arrangement and because of that there may be a serious petroleum production shortages across the country before such arrangement can now be put in place by the NNPC”, he expressed.