The Nation Newspaper

Category: Business

  • Maltina Dance Gig berths in Benin, Warri

    Consumers, especially youth in Benin and Warri had an exciting time during the second phase of the Maltina dance gig activation for the Southsouth zone.

    At the grand finale of the Benin activation, Nelson Abraga won in the male competition. He got a 2.5 KVA generator, Tana Steveson came second, winning a 21-inch plasma TV; Maxwell Aigbekan won a home theatre system as the third prize.

    In the female contest, Stella Ebioge came first while George Titilayo and Isoso Ekhoguagbon came second and third respectively winning the same prizes as their male category.

    In Warri, after the different stages of the competition, Desmond Afure of 5, Odigbo Street, emerged victorious in the male category winning the 2.5 KVA generator prize. Osibere Roland came second winning a 21-inch plasma TV, while Leo Eromosele, an admission seeker, won the third prize of a home theatre system in the male category.

    Emilia Johnson of 22, Ekpan Street, Udu Road came first while Sajere Somia and Eva Turner came second and third respectively winning the same prizes as their male category.

    The fourth placed male and female contestants were also given a consolatory prize of sling bags each while the audience had the opportunity to relish their favourite premium malt drink-Maltina and also got branded gift items.

    Speaking during at the event, the Account Manager, Bates Cosse Limited, the agency handling the activation, Mr Olatunji Aikomo, described the turn out and the performance of the participants as very impressive. He announced that the ‘Ginger Your Swag’ train will be moving to Anambra State next week for the continuation of the activation.

  • NAMA spends N15b on facilities’ upgrade 

    Nigerian Airspace Management Agency(NAMA), yesterday said it is operating its air navigation services with modern technology restating that it does not run  the agency on obsolete equipment.

    NAMA’ss General Manager, Public Affairs , Supo Atobatele,  explained that the airspace agency spends about N15 billion annually on the upgrade of its operational facilities.

    He said : “ Facilities like the radar, Instrument Landing System(ILS),Very High Omnidirectional Radio Range(VOR) and the VHF radio system are all digital and their installations at airports across the country over the years, have enhanced the safety of the nation’s  airspace.

    These equipment are all working at a optimal level, while training of staff has been intensified to sustain the safety drive.

    The agency added that as part of the ongoing transformation of the industry,t he  Federal Government has paid almost 95 per cent of the cost to the  foreign contractor handling the  AIS automation.

    It is absurd therefore  for any one to think that the high -tech industry  in Nigeria will be operating with complete obsolete equipment considering the huge  capital investment of over N15 billion by the federal government on various  air navigation safety critical equipment over the years.”

  • StarTimes begins Xmas promo

    One of the fastest growing pay-tv companies in Nigeria, Nta-StarTV Network popularly called StarTimes is offering its subscribers and customers the best Santa Claus gifts this Christmas season with a bumper promo called “StarTimes Merry Saver Promo.” The promo, which officially commenced on November 5, will run till January 31, 2013 and will allow new subscribers to walk into any StarTimes business outlet and buy a StarTimes decoder for N2,900 and instantly recharge one month of any bouquet of choice.

    Monthly subscription for Basic bouquet is N1,000; Classic bouquet is N2,000 while unique bouquet cost N4,000 monthly.  Existing subscribers will only need to recharge their decoder with N3,000 for any bouquet and instantly get rewarded with N1,000 worth of subscription within the promo period.

    Speaking at a press briefing to formally announce the promo to the public, the Marketing Director, NTA-Star TV Network Limited, Mr Eric Liu disclosed that the promo is aimed at giving back to the society that has supported the company in the past years that the organisation has been in Nigeria.

    “The slash in price of our decoder for this Christmas period is a way of showing appreciation to our customers and as well as giving opportunity to people that are yearning for our decoder to acquire one” he said.

     

     

     

     

     

    Eric disclosed that Startimes digital TV will stun its subscribers in this yuletide season with increased channels of sport, music, moveis, news, kids and teens entertertainment couple with local programmes that people can relate with like Papa Ajasco, SuoperStory and other local dramas from the stable of Wap Tv, E.stars, orisun, Amc e.t.c We are celebrating the Christmas season with our loyal and esteem customers by slashing our price, which means that you can walk into any of our outlet and get a decoder as low as N2,900.

    ”It is important to inform our dear subscriber that this “Merry Saver Promo” is only available at the existing StarTimes operating states, meaning that the “new states just being added to the StarTimes family will not  participate in the promo” Eric stated.

    Those existing states according to the Marketing Director are: Lagos, Abuja, Ibadan, Port-Harcourt, Kano, Kaduna Benin and Onitsha.

    Meanwhile, for new states in this Christmas season, Eric said that the subscribers will enjoy an introductory price of N5,900 which consist of a decoder with two months subscription for Basic Bouquet. Subscribers in the new cities will also have the opportunity to get a FREE decoder when they pay N7,900 for two months of Unique Bouquet. The package which originally cost N11,900 will now be selling at N7,900 meaning that N4,000 has been taken off the price.All these according to Eric are to make the Christmas season more enjoyable with their affordable, easy to install StarTimes decoder adding that customer are in for great enjoyment and uninterrupted signal with StarTimes new T2 Technology.Also Speaking, the representative of Director General NTA, Mr. Maxwell Loko disclosed that StarTimes and NTA partnership is to make life more meaningful and enjoyable for Nigerians during and beyond this Christmas period.

     

  • Indomie wins Brand of the Year award

    Indomie Instant Noodles has emerged the winner of the Brand of the Year award at the 2012 edition of the MarketingWorld awards organised by the publishers of the leading marketing and brands magazine, MarketingWorld Magazine.

    Indomie emerged the winner in the Brand of the year Award sub category in the individual award category in a stiff and keenly contested competition with other leading brands including leading telecommunication giants-MTN and Etisalat as well as First Bank and Coca Cola.

    The 2012 edition of the MarketingWorld Awards, which is in its second year, is an annual showpiece event designed to promote organisation excellence in Branding & Marketing Communications in Nigeria was held at the Oriental Hotel, Lekki, Lagos.

    Speaking at the awards, the Group Publisher and Chief Executive Officer of MarketingWorld Magazine, Mr Akin Naphtal, said the awards pay tribute to organisations that present products distinctiveness and continuous improvement process with long term returns in terms of goodwill and revenue growth.

    “MarketingWorld Awards aims at highlighting brands that deliver a full spectrum of maintain the highest standard of quality, exemplify creativeness, developing a corporate culture and provides positive benefits that exceed customers and stakeholders expectations” he said.

     

     

    Also speaking at the event, the Acting Group Editor of MarketingWorld Magazine, Mrs. Kehinde Oleshin noted that Indomie emerged winner of the category over other notable brands in the category due to its overwhelming popularity and brand top of mind awareness and consumers’ acceptability and loyalty.

    She stressed further that Indomie Instant Noodles as a brand has done more than any other in its subsector of the industry to connect with the consumers by continuously coming up with innovative products and advertisement that is well loved by the target audience especially the children.

    “There is no gainsaying the fact that Indomie instant Noodles is the No 1 Noodles brand in Nigeria, the name of the brand is in the minds and hearts of consumers and it is the first name that comes to mind when you think of Noodles”, Oleshin said.

    “Apart from its popularity and wide acceptability by the consumers, Indomie Instant Noodles has also proven its mettle and leadership position with the introduction of Indomie its latest addition of Oriental Fried Noodles & 210gms size,” she added.

    Presenting the Award of the Brand of the Year category, the President of Association of Advertising Agencies of Nigeria (AAAN), Executive Director/ Chief Operating Office, 141 Worldwide, Mrs. Bunmi Oke described the award presented to Indomie as an honour well deserved and undisputable.

    Responding on behalf Dufil Prima Foods Plc, the Public Relations Manager, Dufil Prima Foods Plc, and Mr. Tope Ashiwaju thanked the organizers of the event for what he described as yet another well deserved honour for the Indomie brand.

     

  • Amstel Malta, Williams’ sisters brand synergy deal

    Amstel Malta, Williams’ sisters brand synergy deal

    IT was a synergy that broke marketing bounds. Through it, Gilette and Duracell evolved a working arrangement mutually beneficial to them. Gilette created a range of battery-powered razors, the battery of choice. These branded batteries appeared in all the advertisements and illustrations of the new razor. Duracell is a powerful brand, just like Gilette. The product gets the positive image of both brands and the group advertises its products in just one advertisement.

    Another case in point is the Nissan 350Z on the cover of Gran Turismo 4. Both products have a positive image, and as such, some people will be drawn to the game because of the car, while others will be drawn to the car because of the game. Ideally, both brands don’t belong to the same group, but on intense negotiations must have gone out making a financial agreement for the operation. At the heart of the brand synergy dynamics is the understanding that a company’s most valuable asset is its brand visibility which has ground breaking impact when two or more agents work in a way that the total effect is greater than the predicted sum of the agents working alone.

    Impressed with the Williams sisters strides in tennis, Amstel Malta, the number one premium low sugar malt drink from the stable of Nigerian Breweries Plc, recently demonstrated the driving force of brand synergy with its partnership with them through the Breaking The Mould initiative.

    The objective of this epochal was to ensure that Nigerian youth become the best wherever they go. The William sisters’ visit, which was their first to Nigeria, was to share their stories with youth, especially girls. The Williams sisters were accompanied by their mother, Mrs Oracene Price.

    Marketing Director, Nigerian Breweries Plc, Mr Walter Drenth, at a press briefing in Lagos, described the initiative as an opportunity to emphasise the brands’ commitment to consumers to “be the best you can be” at all times.

    “Amstel Malta’s partnership with the BTM/Williams Sisters’ Tour”, he said, “is one that the brand is particularly proud of as it showcases a synergy between what the brand stands for, that is, “being the best that you can be” and, the greatest sisters in tennis history individually and together – Venus and Serena Williams.

    “Amstel Malta is the No.1 premium low sugar malt drink with a rich Amstel international heritage that is filled with refreshment and energy for that youthful person who lives an active lifestyle and needs to replenish lost energy so that he or she can be the best at all times”.

    He added that Amstel Malta Showtime, the brand’s sponsorship platform is positioned to give young people the opportunity and platform to perform live on stage with the best of Nigeria’s finest artistes in the entertainment industry.

    The brand synergy between Amstel Malta and these iconic sportswomen led to a noble project called ‘‘Breaking The Mould’’. “Breaking The Mould” platform is a natural and credible extension that would not just empower girls in school but women as a whole. The prolific Williams sisters rise through the ranks is a source of inspiration to other women females who are battling with sex stereotypes and challenging economic circumstances.

    The Williams sisters’ success narrative is based on recipes, such as passion, determination, hard work and belief which can turn dreams into reality, despite obstacles that one may face. Serena Williams spoke on their desire to come to Nigeria to support young girls. “We have always desired to come to Nigeria as a pair. We appreciate the platform that has made the “Breaking The Mould” initiative, which is a reality in Nigeria. We are looking forward to mentoring and inspiring young Nigerians, especially young girls”.

    Similarly, Venus expressed delight at the reality of visiting a great country like Nigeria for the first time. She also spoke on her excitement that the visit heralded before their coming. “I cannot tell you how daily we have being getting tweets from followers in Nigeria who have anticipated our visit, tweeting to ask if truly we are coming. I will be glad to meet some of these fans”.

    Also speaking at an exhibition match by the sisters which Venus won and at the gala night held in their honour, Brand Manager Amstel Malta Adedoyin Owotomo, said the synergy between the two brands has been rewarding since Amstel,through its brand activation, Amstel Malta ShowTime is interested in youths showcasing their talents just like the Williams’ sisters have been doing for years now. She added that the brand will continue to impact youths and ensure they live their dreams, just like the sisters have been doing.

    The Williams’ sisters have had the honour of being ranked by the Women’s Tennis Association as the World No. 1. In 2002, after the French Open, Venus and Serena were ranked No. 1 and No. 2 respectively. During the 2010 French Open, they became the co-world No.1 players in women’s doubles. In 2002, after the French Open, Venus and Serena were ranked No. 1 and No. 2 respectively. During the 2010 French Open, they became the co-world No.1 players in women’s doubles, in addition to holding the top two positions in singles tennis as well. Both sisters have also won four gold medals at the Summer Olympics Games, one each in singles and three in doubles – which they won together – the most by any tennis players. As a duo, they have also completed the Career Golden Slam in doubles.

    There are a few strategic assets available to a brand through synergy that can provide a long lasting, competitive and water tight advantage in spite of the nature or category of the brands. According to Byung Chul, Park, Jongwon, Wyer et al in their book Brand Synergy Effects in Multiple Brand Extensions, the appealing effect of brand partnership can have a positive influence on market evaluations independently of parent extension similarity.

  • Cadbury to reward consumers in Bournvita promo

    Food and Beverage giant, Cadbury Nigeria Plc is set to reward consumers of its flagship brand with a new consumer promotion tagged, “Cadbury Bournvita yummy Life promotion”.

    At a media briefing at its corporate office to herald the flag off of the promo, Marketing Director, Cadbury Nigeria Plc, Dele Anifowoshe, said: ”The Bournvita ‘yummy Life’ promo is a distinctive and unique reward programme as everyone who purchases either the 450g or 900g promotion jar from now till January 17,2013 is a winner upfront.”

    “The promo is aimed at delighting, rewarding and providing a superior life for our consumers in Nigeria. All consumers will enjoy instant 10 per cent extra free products and still stand the chance of winning any of the prizes worth over N200,000,000.”

    On the promo mechanics, Cadbury Nigeria’s Marketing Manager (Food Drinks) Mrs Chioma Afe, said consumers are expected to buy 450g or 900g jar of Bournvita promotion pack, open it and peel off the foil to reveal a special code which will be sent via SMS to the short code provided. She advised consumers to keep the foil for authentication as prizes are redeemable only with valid promotion foil.

    According to Mrs Afe, “Cadbury Bournvita will continue to demonstrate its leadership position in the food drinks market as the pride of the pack, offering consumers yummy nourishment for non-stop vitality. During the promo, 11 consumers will become instant millionaires winning N1million cash each, 11 others will win N250,000 each, 65 will win N100,000 cash and 300,000 consumers will win N500 worth of airtime each.”

     

  • Senate queries NNPC over $500m NPDC revenue

    Senate queries NNPC over $500m NPDC revenue

    The Director-General of the Budget Office, Dr. Bright Okogwu, yesterday failed to explain to Senators why the Nigerian National Petroleum Corporation (NNPC) did not include the projected revenue accruable annually to the Nigerian Petroleum Development Company (NPDC) in the Medium Term Expenditure Framework (MTEF).

    Chairman, Senate Committee on Finance, Ahmed Makarfi had asked Okogwu, who appeared before the lawmakers to defend his 2013 budget estimates why the NNPC failed to include the amount in the budget framework.

    A member of the Committee, Senator Bukola Saraki, noted that such revenue accruable to NPDC, a subsidiary of NNPC, could be in the threshold of $500 million per annum.

    Okogwu tried unsuccessfully to explain the omission but the Senators were unmoved, saying only the NNPC could provide it with satisfactory answers.

    The Budget Office helmsman told the lawmakers that the NNPC had an agreement with Federal Government, which predated the present administration where it was allowed to spend revenues accruals from NPDC to run its operation.

    He said: “The understanding is that they need money to run the organisation since provision was not made for them in the annual budget.”

    But Senator Saraki berated the Ministry of Finance for not capturing the revenue at a critical period when the Federal Government is looking for money to finance the budget.

    The former Governor of Kwara State said: “I think this idea contravenes the constitutional provision that requires that all revenue must be paid into government coffers.

    “We must take a second look at this because we are looking for money everywhere and such a huge item that could be up to half a billion dollars is not captured in the budget?”

    Makarfi said that the NPDC revenue and others might lead to adjustment in the revenue profile for the 2013 budget.

    He said: “We are going to invite NNPC to shed further light on this. This is one of the adjustments that will be made to the revenue framework.”

    The Senators also asked Okogwu to explain why the independent producers also pay zero amount for royalties from the marginal oil fields that they acquired.

    Okogwu said the revenues from the marginal fields were insignificant because the fields had been exhausted before they were acquired.

    The lawmakers insisted that the royalties could not be zero.

    They mandated the director-general to furnish them with accruals from the marginal fields profit tax.

  • Eurobond yields slip after S&P rating

    Yields on Nigeria’s $500 million Eurobonds fell after Standard & Poor’s raised its rating on the country.

    Borrowing costs on the 6.75 per cent dollar debt maturing in 2021 slipped one basis point, or 0.01 percentage point, to 4.42 per cent at the London trading, the lowest level since their January 2011 issue.

    Yields on the Eurobonds have tumbled 169 basis points this year. The naira was steady at N157.3 a dollar on the interbank market in Lagos.

    S&P increased Nigeria’s credit rating to BB-, three levels below investment grade, yesterday, as the country increased foreign-currency reserves because of high oil prices and due to the government’s decision to cut fuel subsidies in January, raise electricity tariffs and privatise the state-run power industry.

    Moody’s Investors Service separately assigned Nigeria a Ba3 rating yesterday, the equivalent of its grades at S&P and Fitch.

    “S&P cited the country’s strong external reserves which have held firmly above the $40 billion threshold in recent months as underpinning its improved outlook on the country,” Oludare Fajimolu and Gloria Obayagbo, Lagos-based analysts at CSL Stockbrokers Limited, wrote in an e-mailed note yesterday. “The rating agency also hinted at improved optimism about progress with on-going financial and power sector reform programs.”

    Yields on Nigeria’s 16.39 per cent local currency bonds due 2022 declined one basis point to 12.77 per cent, according to yesterday’s prices compiled on the website of the Financial Markets Dealers Association. “Nigeria’s rating upgrade holds the potential to improve the global attractiveness of the local debt market, in our view,” the CSL Stockbrokers analysts said. Ghana’s cedi rose less than 0.1 percent to 1.8806 a dollar in Accra, the capital.

  • Airtel seeks action on facilities protection

    Airtel seeks action on facilities protection

    Airtel Nigeria has urged the Federal Government to expedite action on declaring telecoms facilities critical national infrastructure because of threats posed to them.

    Airtel made the call at a briefing on “Recent developments impacting telecommunications operations and quality of service.” It was drawing attention to the harmful impact of terrorist operations in the North, floods in the South and Middle Belt, the challenges posed by multiple taxation and levies and damage to telecom infrastructure.

    It’s Director of Regulatory Affairs & Special Projects, Mr Osondu Nwokoro said the government’s action in fast tracking the declaration would confer priority and protected status on the facilities.

    He headed the Ministry of Communication Technology and Ministry of Works for articulating a national Right of Way policy, the government in collaborate with states and local governments to ensure the elimination of discordant policies.

    He said: “Airtel commends government’s resolve in addressing multiple regulation incidents with various states and the FCT, including the recent policy on Rights of Way (RoW) and ongoing work through the Industry Working Group on Multiple Taxation. We urge further action in that regard, especially in relation to the following cases which have become critical: LCC, UFRU and Katsina State.” LCC refers to the Lekki Concession Company, the firm that got the right from the Lagos State government to expand the Lekki-Ajah Express way. While carrying out its work, LCC deliberately and maliciously damaged telecom fibre belonging to Airtel while asking for payments of more than N1 billion. Airtel said this was a case of request for double payment as the company had made Right of Way payments on the same road to the Lagos State government before the concession.

    In Katsina State, government officials are imposing various taxes and frustrating efforts by Airtel to add fibre cables to expand and improve quality of service in the state.

    These challenges according to Airtel are in addition to the damage caused by terrorist activity in the North and the flooding in parts of the country. It said the challenges had increased operational costs three folds and had adversely affected quality of service subscribers receive.

    According to him, this deplorable operational landscape is even made worse by the whimsical implementation of law and order issues in some states as construction workers on some locations across the country find it easy to maliciously severe fiber-optic cables that crisscross the land while operators hemorrhage from multiple and conflicting taxation and regulatory intervention.

    Nwokoro, however, assured Nigerians and subscribers on the Airtel network that the company had taken decisive steps to mitigate the damage done to its facilities by sealing facility-sharing agreements with other telecom operators. Airtel has also engaged highly efficient private security companies to protect its facilities and is collaborating with security agencies to ensure maximum protection of telecom facilities across the country.

    Airtel is also rapidly replacing damaged facilities where possible to ensure customers do not lack service. It has revived 112 of the 193 cell sites bombed out of service by terrorists in Northern Nigeria while working to restore the balance.

     

  • Airtel seeks action on facilities protection

    •Praises govt for proposed ‘Right of Way’ policy

    Airtel Nigeria has urged the Federal Government to expedite action on declaring telecoms facilities critical national infrastructure because of threats posed to them.

    Airtel made the call at a briefing on “Recent developments impacting telecommunications operations and quality of service.” It was drawing attention to the harmful impact of terrorist operations in the North, floods in the South and Middle Belt, the challenges posed by multiple taxation and levies and damage to telecom infrastructure.

    It’s Director of Regulatory Affairs & Special Projects, Mr Osondu Nwokoro said the government’s action in fast tracking the declaration would confer priority and protected status on the facilities.

    He headed the Ministry of Communication Technology and Ministry of Works for articulating a national Right of Way policy, the government in collaborate with states and local governments to ensure the elimination of discordant policies.

    He said: “Airtel commends government’s resolve in addressing multiple regulation incidents with various states and the FCT, including the recent policy on Rights of Way (RoW) and ongoing work through the Industry Working Group on Multiple Taxation. We urge further action in that regard, especially in relation to the following cases which have become critical: LCC, UFRU and Katsina State.” LCC refers to the Lekki Concession Company, the firm that got the right from the Lagos State government to expand the Lekki-Ajah Express way. While carrying out its work, LCC deliberately and maliciously damaged telecom fibre belonging to Airtel while asking for payments of more than N1 billion. Airtel said this was a case of request for double payment as the company had made Right of Way payments on the same road to the Lagos State government before the concession.

    In Katsina State, government officials are imposing various taxes and frustrating efforts by Airtel to add fibre cables to expand and improve quality of service in the state.

    These challenges according to Airtel are in addition to the damage caused by terrorist activity in the North and the flooding in parts of the country. It said the challenges had increased operational costs three folds and had adversely affected quality of service subscribers receive.

    According to him, this deplorable operational landscape is even made worse by the whimsical implementation of law and order issues in some states as construction workers on some locations across the country find it easy to maliciously severe fiber-optic cables that crisscross the land while operators hemorrhage from multiple and conflicting taxation and regulatory intervention.

    Nwokoro, however, assured Nigerians and subscribers on the Airtel network that the company had taken decisive steps to mitigate the damage done to its facilities by sealing facility-sharing agreements with other telecom operators. Airtel has also engaged highly efficient private security companies to protect its facilities and is collaborating with security agencies to ensure maximum protection of telecom facilities across the country.

    Airtel is also rapidly replacing damaged facilities where possible to ensure customers do not lack service. It has revived 112 of the 193 cell sites bombed out of service by terrorists in Northern Nigeria while working to restore the balance.