The Nation Newspaper

Tag: competition

  • Lagos Chamber: unfair competition killing businesses

    Lagos Chamber: unfair competition killing businesses

    THE Lagos Chamber of Commerce and Industry (LCCI) has raised the  alarm on the problems facing the manufacturing sector.

    Its President, Alhaji Remi Bello, said many sectors were faced with unfair competition as a result of the  importation.

    He said the situation has continued to hurt the sector, especially in areas, such as smuggling, faking and counterfeiting, influx of substandard products and evasion of import duty payment.

    Others are under invoicing of imports and granting of underserved waivers.

    Advising the government on the need to improve non-oil revenue in the light of dwindling fortunes in the global oil market, he cautioned that the idea of giving targets to revenue-generating agencies could backfire.

    He said: “There is a risk that best practice principles would be compromised in the desperation to meet the set target. Already, this is beginning to manifest in the manner of import valuation by the Nigerian Customs Service. Reports reaching the Chamber indicate many instances of upward review of values of import in complete disregard to the values of invoices of such imports.”

    He also alleged that importers had been made to pay exhorbitant import duty and charges, a practice which has  affected some investors, especially in the absence of an effective dispute resolution system.

    Bello urged the agencies to concentrate on the collection.

    He suggested increased non-oil revenue, especially taxes, by improving the environment for businesses.

    Observing that the harsh environment would make it difficult for the government to realise the desired tax revenue, he noted that tax revenue could only be as good as the performance of businesses.

    He urged the government to nurture the private sector to get robust revenue in form of tax, insisting that emphasis on tax should be more on consumption than on production.

    In his words: “There is too much emphasis on investors for purposes of taxation, especially in tax on their raw materials and other input; high tariffs on energy and business premises. We should focus more on taxing consumption.”

    On the insecurity in the country,  LCCI said the problem is disturbing and has implications for investments.

    He cited declining investors’ confidence. According to him, this is as a result of negative impact on image and perception of the country in the global community, risks of doing business in some parts of the country, relocation of businesses away from the troubled spots and setbacks for the tourism sector.

    Others are the distraction of the government from other germane issues in the country, leading to the abandoning of many projects under construction in the north.

    Acknowledging the efforts of  the government in tackling the problem, he appealed that such efforts be further intensified. He said this is a time for all citizens to rally round the administration to find an enduring solution to the challenge of insurgency.

    On the declining score on ‘Ease of Doing Business’, he called the attention of  the government to the World Bank report on the ease of doing business for this year where it indicated a drop of nine points to 147th position from 138th country scored in 2013 among 189 economies in the world.

    He explained that the areas scored are Starting a Business   (-8), Dealing with Construction Permits (-5), Getting Electricity (-1), Registering Property (no change), Getting Credit (-2), Protecting Investors (-1), Paying Taxes (-3), Trading Across Borders (1), Enforcing Contracts (2) and Resolving Insolvency (no change).

    He said the report was disheartening, noting that the nation’s scores dropped on six out of the 10 metrics used in the ranking.

    He stressed that the declining ease of doing business as indicated in the report collaborated with key findings of LCCI’s business environment survey and business confidence index over the last one year.

  • Poor writing motivated UBA essay competition

    Poor writing skills of young ones couple with social media shortcuts culture influenced the establishment of the UBA Foundation National Essay Competition, the bank’s Deputy Managing Director/CEO, Mr Kennedy Uzoka, has said.

    Uzoka, who spoke at the grand finale/award presentation, which held at the UBA House, Marina, Lagos, said though Information Communication Technology (ICT) has had positive effects, poor writing was part of its failings.

    “This is a programme we started in 2011 because we believe in giving back and because we have seen key areas of failing in writing.  And this is because of the advancement in technology.  Though good, it has its bad sides,” he said.

    Rather than write good morning, Uzoka said, social media users write ‘ggmr’, or ‘lol’ to mean laugh out loud; a practice, which he said has encroached on good and proper writing skills.

    He said youths, nowadays, fail to write using the proper format. He gave an example of his daughter, who he said emailed him recently without proper introduction and conclusion.

    “While we have embraced this way of writing, it does not make way for writing properly and these children will be tested in proper English,” he said.

    At the event, 12 senior secondary school pupils smiled home with cash and gift prizes.

    A 15-year-old Fehintola Fabelurin of Maverick College, Ibadan, Oyo State, got N1,000,000 scholarship to study in any African university.

    She was followed by Obi Daniel of St Thomas Secondary School, Kano, Kano State, who won N750,000 scholarship, and Sunday Ikemsinachi of Dority International Secondary School, Aba, Abia State, who got N500,000.

    The three winners emerged after 12 finalists were invited from a total of nearly 2000 entries to write a final essay competition at the UBA Head Office in Lagos, where three emerged overall winners. The 12 finalists also got laptops and certificates.

    The bank’s Deputy Managing Director (Domestic Banking), Mr Appolos Ikpobe, urged the finalists to start thinking of their unique contributions to human development.

    Ijeoma Aso, MD/CEO UBA Foundation, praised the quality of this year’s entries.

    “You should be happy you made it to this point because it shows that the quality of your entry was good. I will encourage all those who do not win this year to try again next year. It shows persistence when you do not give up,” she said.

     

  • Minister unveils business plan competition

    The FCT Administration (FCTA) has flagged off its Third Abuja Business Plan Competition (ABPC) in a bid to support and grow businesses as well as encourage healthy competition among entrepreneurs.

    Minister of State for FCT, Oloye Olajumoke Akinjide, while unveiling the competition said the it presents an exciting opportunity for young people to develop and present business plans for new and emerging ventures.

    Akinjide who was represented by her Senior Special Assistant (SSA), Mrs. Jumai Kwanashie, added that the key objective of the competition is to generate jobs by encouraging and supporting aspiring young entrepreneurs, especially those whose plans may lead to job creation.

    She said: “The competition will no doubt provide aspiring youths the platform to showcase their business acumen, skills and aspirations to business leaders, investors and captains of industry in Nigeria.”

    She said the competition is open to all potential and existing businesses as long as it is viable and has a demonstrable capacity to create jobs.

    She added that FCTA will continue to support the hosting of this competition and indeed all other programmes of Abuja Enterprise Agency as part of our resolve to provide better life for residents of the territory.

    AEA Managing Director, Aisha Abubakar, said, the intention is to initiate an arena to enable large businesses, financial institutions and other corporate entities and support upcoming entrepreneurs.

    She added that apart from prizes to be won, such business plans will receive the assistance and possible sponsorship which include access to N10 million grants by corporate organizations, angel investors and other stakeholders.

    Only 20 successful entrepreneurs will be shortlisted out of which only three will win the N1 million prize money each

    A former beneficiary, Saidat Shonaiki, said “it is an avenue that all our youths should avail themselves of. AEA has made me come out of my shell; they have boosted my business. AEA gave us the opportunity to plan our business to run a profitable company and we are doing that.”

     

  • Sterling Bank to reward winners of The Art Competition

    Sterling Bank to reward winners of The Art Competition

    Three winners of the Art Competition sponsored by Sterling Bank Plc, will tomorrow be rewarded with N1 million each by the lender.

    The competition was opened to children between the ages of five to 12 who were asked to come up with a drawing or a write-up on the bank of their dream.

    The competition commenced in May 2014 with over 1000 entries received by the bank from aspiring young artists.

    The bank’s Group Head, Strategy & Communications, Mr. Shina Atilola in a statement said that the Managing Director & Chief Executive of the Bank, Mr. Yemi Adeola will personally present the prize money to the top three winners while seven others who made it to the last 10 will also get consolation cash prizes.

    Mr. Shina Atilola said: “We introduced the project to encourage students improve on innovation and critical thinking. We opened the project to students between ages five to 12. Basically, the kids are allowed to design and create the bank of their imagination which could be expressed as a painting, drawing, writing or even through a presentation.

    The most creative ideas will be shortlisted for various prizes. The first, second and third prize winners will go home with scholarship awards of N500,000, N300,000 and N200,000 respectively. There will also be other cash awards, gadgets and other prizes to be won. This initiative is aimed at identifying talents and harnessing same for global competitiveness”.

    Mr. Atilola who assured that the Bank will continue to invest in child education especially in the area of financial literacy explained that unless the private sector comes in to support education in the country, the challenges facing the sector may continue to hamper the growth of the sector in the country.

  • UNILAG wins moot competition

    UNILAG wins moot competition

    The Law Faculties of Nigerian Universities come together every year to hold the Moot Court Competition to develop advocacy skill. Last week, six universities participated in the competition  sponsored by Chief Wole Olanipekun (SAN). ADEBISI ONANUGA reports.

    The Students Association of the Law Society, Faculty of Law, University of Lagos (UNILAG) has won the fourth Chief Wole Olanipekun (SAN) Annual Mooting Competition.

    The society scored 82.25 per cent to beat five other universities including University of Benin (UNIBEN); University of Nigeria, Nnsuka (UNN);  Obafemi Awolowo University (OAU), Ile-Ife; Lagos State University (LASU), Ojo and Babcock University, Ilishan. They were marked “Team A-F”.

    OAU was the first runner-up with 81.25 per cent while UNN was the second runner-up.                                                                  The competition, which held at the auditorium of the Nigerian Institute of Advanced Legal Studies(NIALS), had Magistrate Adejumoke Olagbegi-Adelabu and Ms. Onyinye Ukegbu as judges.

    John Odey of OAU won the award for the best “Oralist Advocate”.

    The UNIBEN team won last year, defeating UNILAG and LASU.

    In this year’s competition,  Manedi is as a imaginary republic; Tavardi a state and Fentoc  a local government council area in Tavardi.  Team F (UNILAG) was represented by Jaiyeoba Daniel and Timilehin Oyewo;  Team B (UNN) by Omeye Emenike and Micheal Nwaneka  and Team E  (OAU) by Odey and Elizabeth Whesu.

    The plaintiff, Gaston Minerals Limited, represented by Team F, filed a suit at the Federal High Court of Manedi, within the Tavardi judicial division,  against the Federal Government of Manedi and prayed the court for damages for frustrating a contract to mine uraniums.  Gaston Minerals listed defendants to include the Attorney-General of the Federal Republic of Manendi as first defendant and Fentoc City Local Government as second defendant. They were represented by Team B and Team E respectively.

    The plaintiff, Gaston Minerals, sought seven reliefs from the court, urging it court to determine whether Fentoc City Local Government exists under the constitution of the Federal Republic of Manendi; whether the Tavardi State House of Assembly can validly pass a law renaming Fentoc town as Fentoc City; whether Fentoc City amended law amounted to a declaration of the independence of Tavardi State under the constitution and international conventions and laws.

    Gaston further prayed the ‘court’ to determine whether Fentoc City Local Government has jurisdiction to seal off the uranium mines; whether the new President of Manendi, Kato, can validly terminate and re-award  mining contract earlier awrded to another company, Toma Company International Limited, and whether President of Manendi is stopped from denying the de jure existence of Tavardi State as a republic among other prayers.

    The Attorney-General, the first defendant in the suit, filed a defence where he claimed that the suit was wrongly filed and that the matter ought to be between the plaintiff and Tavardi State with Fentoc Local Government as co-defendant.

    Fentoc Local Government, on the other hand, filed a statement of defense in which it claimed control over the uranium mine and other minerals in the state, having declared that the state is independent of the republic of Manendi and as attested to by its state House of Assembly, which passed a bill into law to declare its independence and which has been signed by the governor, Dansaki.

    All the counsels filed written briefs to support their clients’ positions, the judges however, did not deliver any judgment but made observations on the briefs. In her observation, Magistrate Olagbegi-Adelabu noted that the briefs of Teams F, E and B are similar in style and are more of rulings and judgments than lawyers’ submissions. She took the students through how briefs and submissions are written by lawyers as against the style for writing  judgments.

    Ukegbu,  who said she had “floor fright” on her first day in court,  commended the students for exhibiting confidence and standing their ground in the defence of the reliefs they sought.

    The two judges  noted that the teams were articulate and praised the students for their diligence and for presenting well researched positions before the court.  They told the teams that their verdict was based on the facts presented by the counsels for the plaintiff, the first and second defendants.

     

  • CWG’s revenue slumps on competition, others

    CWG’s revenue slumps on competition, others

    • Refocuses business

    Indigenous tech firm, Computer Warehouse Group (CWG Plc), has blamed the decline in its revenue on continued decline in margins on traditional information technology (IT) infrastructure business due to commoditisation, competitive pressures, as well as viable alternatives in the cloud computing frontier.

    The firm has, therefore, mapped out strategies to change the focus of the business to return it to profitability for the benefit of its shareholders.

    Its Financial Controller, Remi Adeloye, lamented that the firm’s half year revenue of N3.3billion is 16 per cent below N9.9billion of its corresponding previous year while its gross profit of N1.6billion is 23 per cent below the N2.1billion achieved within the corresponding year under review.

    He said:  “CWG’s 2014 first half of the year revenue of N8.3billion is 16 per cent below 2013 N9.9billion, while gross profit N1.6billion is 23 per cent below 2013 N2.1billion. The lower (first half) H1 revenue is a reflection of the continued decline in margins on traditional IT infrastructure business due to commoditisation and competitive pressures, as well as viable alternatives in the cloud computing frontier.

    He, however, said in spite of these challenges, the Group’s financial position remained firm buoyed by adequate liquidity as its leverage and efficiency ratio improved to 1.5 as against 1.4 of the corresponding period under review last year.

    “The financial position of the Group remains strong with adequate liquidity, leverage and efficiency ratios. H1 2014 current ratio improved to 1.5 as against H1 2013 which was 1.4 signifying strong liquidity and adequacy of working capital to meet transactional needs. Also, CWG’s leverage debt to equity ratio remains low at nine per cent as against 10 per cent in 2013,” Adeloye said.

    Its Group Chief Executive Officer, Austin Okere, said a shift in strategy has become imperative in view of the development.

    He said:  “We crafted the plan code named CWG2.0 in 2010, realising back then the pervasiveness of cloud computing, and the major enablement for this in our region following the increase in broadband access from 0.65terabytes (Tb) to a combined capacity of 9Tbits per second. We were very clear that while our tremendous growth over the years had been propelled by our traditional businesses in hardware and software sales and support, and VSAT bandwidth vending, these represented mature and declining margin businesses, the import of which have been evident in our recent financial statements.”

    He said the uptake of firm’s new cloud products not only in Nigeria, Ghana, Cameroon and Uganda proved that its emerging business model of providing cloud services on a subscription basis is scalable, repeatable, transferable, relatively more sustainable and profitable.

    Okere added: “We consider the refocusing of our business into a subscription based model as a dual advantage play. In addition to being a more sustaining strategy, it maximises our social impact investing on the economy of Africa and helps to create jobs by empowering entrepreneurs in the countries of our operation.”

  • Senator Tinubu hosts annual youth soccer competition

    Senator Tinubu hosts annual youth soccer competition

    Four youth teams are set for a final showdown at the finals of the 4th edition of the Senator Muniru Muse Soccer Competition being sponsored by Senator Oluremi Tinubu, OON.

    Like in the past, several dignitaries are to witness the junior soccer tournament scheduled to begin at Campus Mini-Stadium, Ajele, Lagos Island at 4 pm on Sunday, September 14 2014.

    A statement issued from Senator Oluremi Tinubu’s Constituency Office in Yaba indicates that Greater Tomorrow FC and De-Grace FC are determined to outclass one another towards winning the Under-12 Boys’ trophy.

    In addition, two junior girls’ soccer teams, Yomi Queens FC and RAF FC are to finalise their contention for the Under-15 Girls’ trophy on the same football pitch.

    The soccer tournament, which is named after Senator Oluremi Tinubu’s predecessor, is part of her comprehensive initiative for youth empowerment while encouraging young people to stay healthy through physical exercise.

    It also fulfils the aspirations of the Lagos State Grassroots Soccer Association for a sustained discovery of new talents in Lagos Central Senatorial District.

    The First Lady of Lagos State, Her Excellency, Dame Emmanuella Abimbola Fashola and her counterpart from Ogun State, Her Excellency, Mrs. Olufunso Amosun were present to do the kick-off and the presentation of trophies to the winning teams last year.

    Prominent citizens including Her Excellency, Princess Adejoke Orelope-Adefulire, the Deputy Governor of Lagos State will grace next Sunday’s event.

  • ‘Competition’ll not affect our operations in Ghana’

    ‘Competition’ll not affect our operations in Ghana’

    The competition on the Lagos-Accra route will not deter it from flying into the West  African sub-region because of the robust relationship between Nigerian businesses and the neighbouring countries, the Managing Director,  Medview Airlines, Alhaji Muneer Bankole, has said.

    He said what matters to an airline was not the number of operators in a route, but the quality of service offered.

    He spoke in an interview in Lagos against the backdrop of plans by Medview Airlines to start flights between Lagos and Accra next week and  the competition on the route.

    He said the airline was propelled by the need to offer a window for Nigerians to have more options in their choice of carriers in facilitating their business and educational pursuits as well as other concerns between Nigeria and Ghana.

    Bankole said the airline was fine- tuning plans to expand flights to the five countries in West Africa it has been offered by the Federal Government.

    He listed the countries to include Senegal, Côte D’ Ivoire, Mali, Gabon.

    Bankole said the desire to extend flight operations into Ghana would assist Nigerian passengers connect into Europe and other parts of the world, where foreign airlines offer cheaper fares.

    He said the commencement of operations into Accra would facilitate such window where Nigerians could access Ghana by air and enjoy the lower fares available to other countries.

    Apart from the huge business transactions between Nigeria and Ghana, Bankole said flights into Ghana would further open up the market for many Nigerians who live are in many communities in Ghana.

    Bankole said: ‘’Looking at the market, Ghana as a country is significant  because of its relevance in terms of stability.

    “This is in terms of the gains of its stable democracy and Ghana as a connection to other countries in the West African sub region. And flight connections into other parts of the world including Europe and other places.

    ‘’A lot of Nigerians fly into Ghana to connect flights into other countries  for many reasons.

    “The reason many Nigerians fly into Ghana to connect flights into other parts of the world is predicated on the fact that the air fares offered by many foreign carriers from Nigeria into Europe and other destinations is  very high. In fact, it is prohibitive.

    “If you carry out any comparison, you would realise  that air fares from Ghana into Europe is cheaper. And not only that Nigeria and Ghana belong to the same African family.

    “There is a trading relationship between Nigerian and Ghana. Nigeria and Nigerian businesses are well represented in Ghana even in their communities.

    ‘’This large population of Nigerians in Ghana needs a passage by air to come back home.

    “That is why Medview Airlines is tapping into this window to provide the best services to facilitate such movement across national borders.

    ‘’Another angle to the business is that we want to make the airline the carrier of choice to move goods across the countries.

    ‘’Recall that half of the Ankara made in Ghana is sold in the Nigerian market.

    ‘’So, both countries have common relationship that require movement by air to facilitate it.

    “The basic motivation for this is create an avenue to bring our people back home.

    ‘’Another consideration is the large number of Nigerians schooling in Ghanian institutions , who would require to come back home all the time.

    “That is another catchment for passengers. That is why Medview  Airlines is providing the intervention.

    ‘’As an airline we have been around with our feasibility study in the Lagos-Accra route, with on time departure we are convinced we would have a good flight operation.

    “With improvement on our flight services and a lot of innovation in what other carriers have not done, we are convinced our foray into Ghana is a done deal.

    ‘’We are not afraid of competition on the Lagos – Accra route.

    ‘’What is important is the number of airlines flying the route but the quality of service.

    ‘’What would mark us out is the quality of flight services.”

    He said the airline was set to consolidate its operations on the Abuja – Jeddah and Dubai routes, which he affirmed many Nigerians are excited about.

    He said: ” The authorities of Ghana were not ready to assist  us, but, we have to work hard to achieve this.

    “We have five destinations in  West Africa. Where government designated us. We are working towards Abidjan, Mali, Libreville. We are taking it step by step.

    ‘’With time we would expand into all the routes.

    ‘’We are trying our best to assist Ghana with STABO  and other companies to enable them come back.

    “The Ghanaian authorities were not willing to assist because, they say three Nigerian carriers are flying into Accra without a single Ghanaian carrier flying into Lagos.’’

    He continued: “But we have done our best to ensure the operations would run seamless.

    ‘’We are looking beyond Accra to fly to Bamako, Libreville, and other countries.

    ‘’On the Dubai operations, we are very ready, we have put our house in order and the Nigerian community is ready for us.

    ‘’We need to support our airline , because only Nigeria carriers would offer jobs to its nationals , not the foreign airlines coming in here to make money.

    “I have travelled to Saudi Arabia and Dubai to prepare for the operations. We need to support our own carriers. We are going to create jobs and have Nigerian flavour on board.”

     

  • Group holds songs competition to revive ‘old Lagos’

    Group holds songs competition to revive ‘old Lagos’

    How do you revive the Lagos of old where people lived in harmony and kept public infrastructure? A non-political, non-religious group, the Spirit of Lagos (SoL), is aiming to do so through music.

    It is staging a songs competition to create what it calls a saner Lagos.

    The competition, which begins today, is open to all residents, is aimed at selecting a theme song that will resonate with Lagosians and promote the ideals of a sane Lagos. The contest will end on September 26.

    According to the organisation’s Project Director, Niyi Omotoso, who addressed reporters in Lagos, the contest is expected to drive engagement and adoption of SOL’s messages among Lagosians.

    “The theme competition was conceived to engage Lagosians and create an opportunity for musical talent to thrive as well as generate thought and conversation around the values of the Spirit of Lagos. The best theme song must, among other things, be new and had never been played in any media platform or performed anywhere prior to the competition; promote the unique attributes that made Lagos a centre of excellence; inspire social justice, civic responsibility, citizenship and neighbourliness, and must not exceed three minutes,” Omotoso said.

    The winning theme song, he said, must align with the objectives of the Spirit of Lagos’ ‘Change your thinking’ campaign to restore those unique values that in the past, made the city a safe, just, prosperous and neighbourly place to live in and visit.

    The winner of the contest, he added, would gain, among other things, a recording contract, opportunity to be considered for SOL ambassadorship, a N500,000 cash prize and a chance to perform the song alongside some notable artistes at the Lagos State Governor’s Ball billed for the third quarter of the year.

    “The first and second runners-up in the contest will be rewarded with N200,000 and N100,000 cash prizes respectively, while the song with the highest vote will get N500,000 cash reward,” he said.

    A panel of judges consisting of performing artistes and record label owners, he explained, would select the winning song, adding that each song would be judged on creativity, originality, message content, balance/blend and overall acceptability.

    Prospective participants, Omotoso said, would have the opportunity to vote for their choice songs on SOL’s facebook page, www.facebook.com/spiritoflagos, or any of its online media platforms.

    Participants, he added, could also send their entries in a CD/DVD to The Spirit of Lagos Song Competition at the following places: PlayHouse, 2 Abieyuwa Amadasun Street, off Oduduwa Way, Ikeja GRA; C&F Porter Novelli, 26A Babatope Bejide Street, Lekki 1 or TBWA at Harold Shodipo Crescent Ikeja GRA.

    “Contestants are expected to enclose their full names, addresses and phone numbers in their entries as well as like the Spirit of Lagos facebook page before sending in their entries,” he said.

    General Counsel to Governor Babatunde Fashola (SAN), Mrs Oyinkan Badejo-Okusanya, who was at the parley, expressed government’s willingness to support the project.

    She said the administration’s concern of this administration is to ensure an all-round sane Lagos, adding that the government would partner SOL to make the project a success.

    “The Spirit of Lagos believes firmly that we must live with a keen sense of ownership of the city by being part of any effort aimed at ensuring that it indeed remains the centre of excellence in all ramifications. This is in tandem with the fundamental objectives of the current administration,” she added.

  • Adugbo Music Competition berths

    Adugbo Music Competition berths

    Oxygenjay Studios, in partnership with Almedia International and Lagos Television (LTV), is putting together the Adugbo Music Competition, a talent hunt initiative that will involve up-and-coming artistes and youths in general within and outside Lagos State.

    Speaking on the competition, CEO, OxygenJay Studio, Tosin Osibajo, said: “It has been observed that most of the existing highly desirable music talent hunt competitions tilt towards Western music, thereby shutting out a large number of talented youths with interest in African renditions and percussion.

    “Adugbo Music Competition will be all-embracing, as it will feature five categories of music, including Hip hop, Dancehall, Juju, Fuji and African rhythms. It has been designed to elicit the age-long spirit of communal (Adugbo) contest, engender curiosity, sense of belonging and quest for victory among the various adugbos (areas), such that viewership will cut across people of all ages and social status across the country.”

    The overall winner, he revealed, would be crowned the Asiwaju of Nigerian Music for the year running at a colourful prize-giving ceremony to be attended by dignitaries from all over the country.

    The overall winner will walk away with a branded Kia Magentis salon car, while the first, second and third runners-up will get a recording deal.

    According to the organisers, entry will close on September 30, as the car prize is already secured and on display at LTV Agidingbi, Ikeja, Lagos.