The Nation Newspaper

Category: Industry

  • Minister: high population reduces impact of economic growth

    Nigeria’s rising population is hindering the impact of economic growth, Minister of Budget and National Planning Senator Udoma Udo Udoma has said.

    At a news conference in Abuja, Udoma said the Federal Government was working hard to enhance economic growth to meet the needs of the rising population.

    “We have a lot more work to do because our population is growing at about three per cent. So, unless we are growing at more than four per cent, we will not really be able to feel the impact.

    “So, that is why we (the government) have to work even harder to get growth at the level which we want,” Udoma said.

    The minister stated that government needed to work much harder in the area of agriculture, which is the economy’s mainstay and where over 20 per cent of the Gross Domestic Product (GDP) comes from.

    “It is also important that we work hard on issues that have to do with oil production, because we have to fire on all the indices,’’ he added.

    Sen. Udoma attributed the reduced GDP growth in the second quarter to insecurity in the agricultural belt and the decline in oil production.

    He said the government was, however, working hard to resolve the challenge of insecurity to allow free movement in the country.

    “We are, of course, concerned now with the flooding, a natural phenomenon, and we are also seeking to address the problem.

    “The good news is that non-oil sector actually has been growing; the second quarter was 2.05 per cent and so we are encouraged by that growth,” Udoma stated.

    On the Economic Recovery and Growth Plan (ERGP), the minister said the government would continue to work hard to ensure it achieved the objectives of the plan as it was the focus of President Muhammadu Buhari’s administration.

  • Fresh standards to drive non-oil sector

    To enhance the quality of locally made goods, the Standards Organisation of Nigeria (SON) has unveiled additional 879 standards. According to experts, this will aid the non-oil export drive, Assistant Editor OKWY IROEGBU-CHIKEZIE reports.

    It’s a game-changing initiative. For Nigeria, which has been seeking to speed up the rejuvenation of the non-oil export sector, the unveiling of 879 new standards by the Standards Organisation of Nigeria (SON) promises to change the non-oil sector’s narrative.

    For one, the initiative is aimed at encouraging the improvement of quality standards in locally-manufactured goods. And in the thinking of SON and, indeed, other stakeholders, it is perhaps the much-needed tonic to turn around the fortunes of the non-oil sector, where poor quality and standards remained clogs in the wheel.

    The strategic intervention by SON is a welcome development capable of making Nigerian products competitive locally and at the international market by improving certificate processing for exporters and local manufacturers especially in the agric sector.

    The move is a major boost to the Federal Government’s efforts at leveraging a vibrant non-oil oil sector to reboot an economy still battling to fully and sustainably exit its worst recession in history.

    This is so considering that a robust non-oil sector, according to experts, is fundamental to economic diversification, rapid revenue base expansion, sustainable growth and employment generation. More importantly, the initiative raises hopes of ending the embarrassing rejection of Nigeria’s exports because of poor standards.

    SON Director General Mr. Osita Aboloma put this in perspective when he said the 879 new standards would ensure that agricultural goods exported or embargoed by developed economies are not returned because of high level of pesticides, poor quality and improper handling.

    Aboloma stated this in Lagos, penultimate week, when he unveiled the additional 379 standards to the initial 500 approved by the agency. He noted that SON would continue to support the Federal Government’s efforts at growing the non-oil sector to drive the economy.

    He specifically said an important item in the new standards was for beans planting, soil quality, transportation and preservation. He noted that gone are the days when  locally produced beans would be returned by the European Union (EU) because of poor quality, as the gaps have been identified and corrected.

    Aboloma’s words must be heart-warming to the government and operators in the non-oil sector. This is so considering the series of rejection of Nigeria’s exportts, particularly beans, by the EU and other importing countries.

    The EU in June 2015 banned the importation of Nigeria’s dried beans because it contained high level of pesticides dangerous to human health. This came after the Republic of Ireland also rejected and returned five containers of beans exported from Nigeria.

    The products were said to have been received with heaps of weevils, an embarrassing development that put relevant government agencies, including SON on their toes. The agency said they were working to get the EU to lift the ban. But the European body was not impressed by measures taken by Nigeria to resolve the issue.

    Accordingly, the EU extended the ban by another three years, citing the continued presence of dichlorvos (pesticide) in dried beans imported from Nigeria.

    “The continued presence of dichlorvos (pesticide) in dried beans imported from Nigeria and maximum residue levels of pesticides shows that compliance with food law requirement as regards pesticide residual cannot be achieved in the short term.

    “The duration of the importation prohibition should therefore, be extended for an additional period of three years to allow Nigeria implement the appropriate risk-management measure and provide required guarantees,” the EU said.

    For Nigeria currently struggling to boost non-oil export and diversify its economy, the extension of the ban was a blow below the belt. However, while Nigeria was still rattled by the extension of the ban, the US added to her woes by banning the importation of Nigeria’s cocoa into its market.

    The US authorities are said to have taken the action because Nigeria’s cocoa did not satisfy the standard required for exportation into the US.

    It was a national embarrassment, but a new dawn may have emerged courtesy of SON’s latest intervention. According to Aboloma, who was represented by SON Director, Standards Development, Mrs Chinyere Egwuonwu, the new standards were products of working on the value chain, codes and guidelines with critical stakeholders.

    The collaboration with stakeholders, he said, was aimed at arriving at internationally acceptable quality standards while rebooting the economy and creating wealth for farmers, exporters and manufacturers.

    Noting that the standards are inclusive of harvest and post-harvest guidelines, in addition to transportation, Aboloma regretted the high level of rejection of agricultural products outside the country as due to poor processes and procedures.

    His words: “We have observed that there are issues with our agric produce as a result of wrong application of pesticides, using the wrong vehicle such as ones used to transport chemicals, fertiliser.

    “We are also going to achieve procedural certification for people who can key into the programme made for excellence in local manufacturing by awarding them a logo that will distinguish them from non compliant organisations.”

    According to Aboloma, the organisation under his watch has grown and achieved a great success to the extent of achieving a global standard in garri, a staple food.

    He added that CODEX, the international body for standard collection of drug formulae and descriptions, has adopted the standards for garri as formulated by SON globally.

    On the issue of implementation, the SON boss said it would be all-encompassing, as government agencies and relevant stakeholders have been adequately mobilised and carried along in the formation of the policies.

    Apparently aware of the place of exporters in the new dawn in the non-oil sector, the Director, Laboratory Services, SON, Mrs Mojisola Kehinde, encouraged exporters and manufacturers to take advantage of the newly-enlarged SON laboratory in Ogba, Lagos. She added that the agency’s testing capacity has been greatly enhanced.

    Head, Micro-Nutrient Laboratory, Mrs Talatu Ethan, advised consumers to desist from patronising any brand of sugar, salt and vegetable oil that does not have the eye logo with vitamin A fortification. She stressed that SON was geared towards achieving a healthy population through standards.

  • Minister: foreign investors want banks to invest in mining

    Minister of State, Ministry of Mines and Steel Development Mr. Abubakar Bwari has  joined foreign investors to appeal to  banks to invest in mining.

    He made this known while declaring open the first Nigeria Metallurgical Industry Stakeholders’ Forum (MISF) held in Abuja.

    The theme of the forum was: “Nigeria’s economic and industrial development through value addition in the metal sector”.

    Bwari said the foreign investors made the appeal in Australia at a mining forum where they complained about Nigerianw banks’ non-commitment to the sector.

    He added that of the African countries at the forum, Nigeria was most focused on investment interests.

    “At the Nigeria’s roundtable forum, most of the investors from Australia had one complaint that had to do with our investors and not the foreign investors.

    “They said the Nigerian banks were not ready to fund mining and know little or nothing about mining.

    “So, the ball is in our court, as stakeholders, to bring mining before the banks so that the Nigerian banks can be educated on what it is about,” he said.

    The Minister said effort would also highlight some of the challenges that had to do with mining and the way out.

    He said in as much as the government was paying attention to mining as a means of diversifying the economy, there was need for Nigerian banks to play their own role.

    Bwari said modern mining would soon commence in Nigeria, with Bauchi State being the first beneficiary because of its large deposit of zinc.

    He said the metal industry had a great impact on other sectors of the economy, adding that the prospects of a vibrant metal industry in Nigeria include foreign exchange earnings and sustenance.

    The Minister also said it would contribute to increase in the Gross Domestic Product (GDP) and create job opportunities as well as acquisition of technical skills leading to technology transfer to Nigerians.

    According to him, the stakeholders’ forum would be organised periodically to proffer solutions to the challenges of the metal sector and educate the metallurgical operators on the government’s policy direction.

    Giving the history of the metallurgical and allied plants in the country, Bwari said many were established by investors from far and near, but expressed concern that some had either closed down or were about to do so.

    He identified lack of effective government policies to guide and regulate the activities of operators in the sector and lack of commitment by persons assigned to run public enterprises as some of the challenges.

    Others, he said, were corruption and economic sabotage by Nigerians, unfavourable and sometimes inconsistent fiscal policies and inadequate and expensive power supply with the attendant danger of power generating sets.

    Earlier, the ministry’s Permanent Secretary, Dr. Abdulkadir Mua’azu, said the administration was poised to creating an enabling environment for metallurgical operators to thrive.

    This, he said, was necessary to generate employment, create wealth and reduce poverty.

    Mua’azu also said to achieve its goals, the ministry had articulated some strategies and activities for the development of the metallurgical sector to take it to the next level.

    “They include: ensuring presidential assent to the Nigerian Metallurgical Industrial Bill, which has passed the second reading at the floor of the Senate and collaboration with all relevant government agencies,” he said.

    He also said the ministry was liaising with the Nigeria Customs Service (NCS) to curb dumping of substandard steel and other metal products in Nigeria and export of banned scrap metals.

    House Committee on Steel and Metallurgy Chairman, Lawal Idrisu, said as a nation, there was the need to encourage players in the industry by way of incentives through creation of special funding.

    “Availability of funds cannot be overemphasised and this is because accessing these funds for investments is very important.

    “For example, the lowest cost of interest rate of less than five per cent will invariably boost investment in this sector.

    “I therefore implore our policy makers to look into this as we in the parliament will be able to support this kind of gesture with legislation,” he said.

    The House Committee chair said Nigeria should focus on the multiplier effects of the policy on the economy.

    He listed the multiplier effects to include creation of wealth and increase in the revenue that would accrue to government through taxes and other remunerations.

    The two-day forum was attended by government officials and captains of the steel and metallurgical industry.

  • Nescafe pays N15m to promo winners

    Nestle Nigeria Plc has rewarded consumers with  N15 million in its ‘NESCAFE get started’ promotion.

    Three lucky consumers won N1million, while others won in the categories of N500, 00 0, N250, 000 and consolation prizes of N100, 000.

    One of the winners, an Abuja-based trader, Mrs. Olabisi Arogundade, said her daughter used her phone to enter for the promo, which eventually got her the highest prize of N1million.

    Also, winning N1million was Olawole Matthew, a medical student of the Obafemi Awolowo University, Ile-Ife, who said he takes the product when studying for exams. “It keeps me awake and refreshes and energizes my memory,” he said.

    Speaking during the prize presentation at the Nestle Plc’s Ilupeju Office, Lagos, Brand Manager for NESCAFE, Omofasa Orhiunu, said the promotion was designed to reward loyal consumers who have over the years patronised the brand to keep its leadership position in the market.

    He said though people could be sceptical of the genuineness of promotions of this kind, the presentation would put paid to such doubts.

    ”You know as Nigerians we are very sceptical about things like this, when you call a consumer and say you have won N1million, the consumer receives the message with doubt. Consumers do not really believe in promos, but this will definitely change their perception about promotions,” he said.

  • ‘Why barriers to cross-border e-commerce exist’

    •NIPOST intensifies reforms

    The complexity of postal product offering, lack of adequate infrastructure support, outdated and inefficient postal–customs–transport processes are some of the barriers to the growth of cross-border e-commerce in Nigeria and other African countries.

    Experts, who spoke at a stakeholders’ conference on “Addressing critical challenges in courier & E-commerce Industry” held in Lagos, listed others challenges to include security challenges, high cost of doing business, and lack of collaboration amongst stakeholders.

    Pan African Postal Union Assistant Secretary-General, Mr. Kolawole Raheem Aduloju, said e-commerce is growing at 25.8 per cent, compared to the 16.8 per cent of the average growth for the rest of the world.

    While noting that Africa remained the fastest-growing continent in the globe, he said globally, Business to Consumer (B2C) e-commerce was worth about $1.2 trillion, considerably smaller than Business to Business (B2B) e-commerce, valued at more than $15 trillion.

    Aduloju added that the segment was growing faster, especially in Asia and Africa business-to-business, but stated that Africa still accounts for just about one per cent of the global volume and are mostly import based items.

    Minister for Communication Adebayo Shittu, who was the Special Guest at the event, however, said the Federal Government was determined to ensure that Nigerians get equal access to government services deploying the use of digitalisation.

    He said the government was geared towards achieving an all-inclusive economy by prioritising developmental efforts in the digital economy.

    He also said plans were underway to establish a Nigeria Postal Services (NIPOST) banking, real estate and insurance firm to get every individual in the country into a financial inclusive economy.

    Shittu said: “We are also looking at establishing a NIPOST property and development company to make judicious use of NIPOST under-utilised facilities wasting away.

    “It is our plan as part of the general reform to ensure that most of these lands that are being vacant and unused are leased out to the public to establish property development.

    “Some of these lands will be available to build housing estates, event centres, garages and others to earn revenue for the Federal Government.’’

     

  • How illicit trade hurts economy, real sector

    The adverse effect of illicit trade is unquantifiable. It is taking a toll on the economy and the operations of manufacturers. From loss of huge tax revenue and income to the government and manufacturers to damage to long built brand reputation and serious health risks to consumers, illicit trade may have become a hard nut to crack. But, at a roundtable in Lagos, experts brainstormed on how to curb the trade. CHARLES OKONJI reports.

    For standards regulatory authorities, revenue generating agencies, consumers and private sector operators, particularly manufacturers, the fear of illicit trade (IT) is, perhaps, the beginning of wisdom.

    Despite measures so far put in place to halt, or at least minimise the booming trade in the production and distribution of consumer goods that violate the rules and regulations governing the relevant industry and regulatory authorities in Nigeria, IT has refused to abate.

    Rather, the trade, which covers a wide range of goods and brands, ranging from electronics, apparel, alcoholic drinks to vehicles and auto parts, drugs, arms, pharmaceuticals, cigarettes, counterfeit currencies, as well as humans, appears to have assumed a life of its own, leaving sour taste in the mouths of various stakeholders in the economy.

    For instance, it has continued to force a reduction or loss of huge tax revenue to the government. Genuine manufacturers and other local businesses are also groaning over the reduction in market share. Many local businesses whose profitability has nosedived as a result, have also been screaming blue murder over the colossal damage foisted on their brand image by the thriving IT.

    Consumes appear worse hit, as the proliferation of fake and substandard goods have virtually taken over from the genuine ones, posing serious health risks to end users. Because IT thrives in the underground economy, the unwholesome business naturally does not reflect in the country’s Gross Domestic Product (GDP).

    These must be why experts and economic analysts describe illicit trade, which permeates virtually every product category and industry, as avoidable economic cankerworm, which is not only destroying businesses in the country, but also militating against Nigeria’s economic growth and development.

     

    The imperatives of curbing IT

    Globally, illicit trade accounted for between eight per cent and 15 per cent of global Gross Domestic Product (GDP) valued at $12 trillion in 2015, according to the World Economic Forum.

    A Senior Research Officer, Initiative for Public Policy Analysis (IPPA), Mr. Olusegun Sotola, also said, according to the United Nations estimate, more than $1billion is illicitly traded in small arms alone in Africa, fuelling the increasing conflict and criminal activities in the region.

    Sotola, in his opening remarks at a policy roundtable discussion titled: “Business environment & excise duty: Maximising economic opportunities through effective anti-Illicit trade enforcement” said IPPA was of the view that illicit trade was largely policy induced, while tax and tariff, for example, often create perverse incentives for illicit trade.

    He explained that the essence of the forum was to show the underlying factors responsible for the growth of illicit trade, the danger associated with it and the economic dis-incentives it creates for local industries, the accompanying revenue loss it has caused the government and undermining healthcare delivery.

    A Senior Research Fellow at IPPA and don at the University of Aberdeen, United Kingdom (UK), Dr. Olajide Damilola, said Nigeria’s absence in the world ranking on IT as captured by the Global Illicit Trade Index (GITEI) was worrisome.

    GITEI is the global body rating countries on illicit trade. Nigeria’s absence in GITEI’s ranking, according to Damilola, was as a result of unavailability of data. He said the paucity of data was even more precarious because the trade could be causing serious harm to the economy unnoticed and a big scare to prospective investors.

    The expert said as an emerging economy laden with socio-economic obstacles, the challenges of doing business in Nigeria were many and they affect the growth of the economy as well as make it difficult to attract investors and successful investment.

    “The challenges range from multiple infrastructural inadequacy, policy inconsistencies, corruption, insecurity, bureaucratic bottlenecks, infringements on rule of law and sometimes a lack of political will to implement business friendly policies,” Damilola said.

    The Senior Research Fellow stated: “In such an adverse environment, companies operating legally as net economic contributors deserve government encouragement and protection of their goods and services from losing commercial viability to illicit perpetrators.”

    According to him, Nigeria needs to urgently work on the critical factors encouraging IT in order not to compound the economy’s problems. He listed some of the factors to include government policy, supply and demand of illicit products, transparency and trade environment and customs enforcement.

    In addressing the problem, Damilola advised that certain questions must be answered to properly direct policy at the fight.These include government action or inaction that creates incentives for illicit trade to thrive in the country.

    He added that there was the need to ask the following questions: “How do we benefit from illicit trade compared to the costs? What categories of GITEI should Nigeria aim to improve upon?”

    Other industry operators and experts who spoke at the roundtable agreed that a holistic approach was required to curb the trade, which also involves strategies beyond the Nigeria’s jurisdiction.

    Some of them noted that illicit trade is a global phenomenon whose solution should be global in nature, adding that the preferred global approach to combating the trade, which Nigeria should be part of, should be aimed at international cooperation and harmonisation of laws and regulations beyond borders.

    While citing the global fight against money laundering as a typical example, they, however, cautioned that in opting for this approach to the fight against illicit trade ravaging the economy, Nigeria should not rush into signing the controversial African Continental Free Trade Area agreement (ACFTA).

    The AfCFTA was designed to create a continental trade bloc of 1.2 billion Africans, with a combined Gross Domestic Product (GDP) of about $3 trillion. It was adopted by the 18th Ordinary Session of the Assembly of Heads of State and Government of the African Union (AU) in Addis Ababa, Ethiopia, in January 2012.

    The agreement was seen as an important milestone in promoting Africa’s regional integration and helping to increase intra-African trade, which was at 16 to 17 per cent, by more than 52 per cent, worth about $35 billion per year.

    AfCFTA commits African countries to phasing out tariffs on 90 per cent of goods, with 10 per cent of “sensitive items” to be phased out incrementally. It will also liberalise trade in services, while also signaling a step towards building strong regional value chains.

    Forty-four out of 55 African leaders ratified the AfCFTA at an Extra-ordinary Summit of the AU Assembly in Kigali, Rwanda, on March 21. Nine other AU members, including Nigeria and South Africa, delayed accent to the treaty.

    President Muhammadu Buhari was earlier scheduled to travel to Kigali to ratify the trade deal, which is easily the largest trade agreement since the World Trade Organisation (WTO) in 1994. But he backtracked on the opposition of the OPS who said they were not consulted.

    But at the IPPA roundtable, a Consultant with the United Nations Industrial Development Organisation (UNIDO), Dr. John Isemede, said the government must not succumb to pressures to sign the agreement until some identified gray areas are taken care of.

    Isemede, a former Director- General of Nigeria Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), said there was the need to explore the salient issue of Nigeria’s comparative advantage in such an arrangement to avoid making the country a dumping ground for goods and services.

    His words: “The country is already overloaded with imports. I am not saying the Federal Government should not sign at all, but to put the necessary infrastructure on ground, something to sell, something to offer before rushing into the agreement.

    “The tea you sip comes from Kenya, the Titus fish you eat every day comes from Morocco, there is Shoprite here and there owned by South Africans. The majority of the products sold is imported from South Africa and with the South African Airline. What is Nigeria bringing to the table and what are we going to sell?”

    According to the UNIDO consultant, the government should review the membership of the 20-member committee to review the proposed agreement to allow the OPS take centre stage. The government, he added, should also fix infrastructure by getting the transport sector especially the rail system up and running.

    Isemede also said more local industries must begin to think more of export, while the government should consider the coming back of Commodity Board to optimise the nation’s comparative advantage.

    “You know that the Nigerian market is the target of AfCFTA because of its size. To me, signing ACFTA without putting the necessary things in place and without more involvement of the OPS is like a landlord handing over his Certificate of Occupancy (C of O) to the tenant,” he warned.

    It is easy to see the connection between the thriving IT and Isemede’s insistence that Nigeria must tread with caution over the controversial AfCFTA. The thinking of some experts is that, if Nigeria throws its doors wide open in the spirit of the proposed trade liberalisation deal, perpetrators of IT might cash in on the situation to continue their trade.

    The thinking is that combating the influx of prohibited goods and the harm they cause to the economy may have already become a hard nut to crack by the authorities. And this was why the Buhari administration is struggling with whether or not to sign the ACFTA deal.

    Although the Federal Government has said African countries are targeting the Nigerian market for the implementation of ACFTA, it was being careful by not hastily signing the agreement for the good of the economy. But pressures are still mounting from some quarters for the government to soft pedal.

  • UAC appoints new directors

    UAC of Nigeria PLC (UACN) has announced the appointments of two  new non –executive directors. The new non-executive directors include Mr Folasope Babasola Aiyesimoju and Mrs Olufunke Ighodaro.

    Also appointed alternate Director to the new Directors is  Mr Peter Benedikt Mombaur. Aiyesimoju,is  a finance professional,  with vast experience spanning corporate finance, principal investing and private equity in Sub-Saharan Africa’s most important economies. He holds a B.Sc (Hons) degree in Estate Management from the University of Lagos, where he was awarded a Certificate of Excellence in Real estate development and finance, and earned the right to use the CFA designation in 2006.

    Aiyesimoju is the founder of Themis Capital Management, an investment firm focused on concentrating capital and talent on high-potential opportunities in Sub-Saharan Africa.

    Mrs Ighodaro is an astute and experienced business leader with considerable experience in executive as well as non-executive leadership positions with some of Africa’s most successful companies.

    She holds a B.Sc. (Hons) degree in Operational Research from Salford University and is a Fellow of the Institute of Chartered Accountants in England and Wales.

    She was recently appointed by the Central Bank of Nigeria, the Nigerian Communications Commission and a syndicate of 13 lenders to the Interim Board of Emerging Markets Telecommunication Services Limited, where she serves as Executive Director & Chief Financial Officer focused on stabilizing the business ahead of a third-party sale.

    Mombaur is an investor and entrepreneur with professional experience in Sub-Saharan Africa, Western Europe and North America. He has lived and worked in Nigeria for seven years and overseen investments for over a decade. He holds University degrees in Mechanical Engineering (specialising in Energy and Automation) as well as Law and Economics. His work experience spans fast moving consumer goods, telecommunications, financial services and education.

     

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  • ‘Effective human resource mgt can boost organisational performance’

    For businesses and organisations to achieve high performance levels, meet set goals and stay ahead of competition, employers and managers must step up their human resource management strategies, the Manager, OutsideIn HR, Mr. Joshua Ademuwagun, has said.

    Ademuwagun, who stated this while facilitating a training organised by the Nigerian-American Chamber of Commerce (NACC) in collaboration with OutsideIn HR, said part of the strategy was studying employees in order to effectively channel their energies and skills towards set organisational goals.

    The theme of the training, which was held at the NACC Secretariat in Lagos, during the week, was: Managing and Motivating Performance. The training attracted business professionals, team leaders and managers who were keen to learn new ways to grow and manage individual and organisational performance levels.

    Ademuwagun said in view of today’s complex business environment, there is need for business professionals to have a better understanding of employee’s personality type and be ready to set quantifiable business goals. According to him, setting unrealistic goals can lead to business failure.

    The human resource professional added that it is also important for employees to be able to track their progress, adding that without the ability to do so, they can easily lose focus, which invariably, affects organisational performance and business goal.

     

     

  • StarTimes cuts subscription fees

    Subscribers to StarTimes’ services have started enjoying a reduced subscription rate on its’ classic bouquet, which took effect from September 1.

    The Pay TV company had announced the reduction of its classic bouquet price from N2,600 to N1,900 with an inclusion of four new premium channels EbonyLife TV, Fox, ST Nollywood, ST Kids.

    The company said it took the decision to lower its highest bouquet price from Saturday to enable more Nigerians enjoy unlimited quality entertainment in sports, movies, drama and music at pocket friendly prices.

    The company in a statement made available to The Nation said it hoped that the price reduction will further reinforce its commitment to ensuring that Nigerians enjoy the best in digital entertainment for less.

    StarTimes had earlier declared a one month free access for all its subscribers in August, granting free access to its new channels irrespective of the bouquet.

    StarTimes is the leading digital TV operator in Africa, serving nearly 20 million users with a signal covering the continent and a massive distribution network of 200 brand halls, 3,000 convenience stores and 5,000 distributors.

    The company also owns a featured content platform, with 480 authorised channels consisting of news, movies, series, sports, entertainment, children’s programs, etc.

    The company’s vision is to ensure that every African family can access, afford, watch and share the beauty of digital TV.

  • Oyo, Benin Republic partner on trade

    The Oyo State Government and the Republic of Benin have announced their readiness to partner towards strengthening bilateral trade, agriculture and forestalling trans-border crime.

    Chief of Staff, Ministry of Foreign Affairs and Cooperation, Republic of Benin, William Comlan, broke the news during a courtesy visit to Oyo State Governor Abiola Ajimobi in his office in Ibadan.

    Comlan highlighted the importance of fostering mutual understanding with the Oyo State Government to boost trade and commerce as well as finding lasting solution to other border related challenges.

    “Our visit is to learn some new strategies from Nigeria, particularly Oyo State. We believe such cooperation could further strengthen the relationship that exists between the state and our country,” he said.

    Comlan stated that the choice of the state was as a result of strategic boundaries that linked Nigeria with the Republic of Benin through Oyo State.

    Ajimobi, represented by the Secretary to the State Government, Olalekan Alli, said the government remained committed to giving assistance towards facilitating peace and development across the West African region.