The General Manager of the Lagos State Traffic Management Authority (LASTMA), Mr. Olajide Oduyoye, has said that the attention of the LASTMA management has been drawn to a fake list purported to be new traffic offenses and fines published by the agency.
Oduyoye stated that this fake list does not reflect the true laws that the agency has been tasked to enforce and that the agency had earlier published the full list of offenses and fines on the directive of Mr. Governor in 2019.
The General Manager further explained that the primary duties of the agency, which includes traffic law enforcement, traffic control and management is backed by law. This law was reviewed by the Lagos State House of Assembly in 2018 and still reviewed this year.
He, therefore, enjoined law abiding road users to ignore the fake list, that any new information on the traffic laws and fines will be published via the agency’s media channels or other authorized avenues by the State Government. He also urged those publishing the fake list to desist from giving credence to it and take it down.
Oduyoye advised all road users to, at all times, adhere strictly to the traffic laws of Lagos State in order to avoid paying the consequences of flouting them.
Taraba State Governor, Darius Dickson Ishaku has assured that his administration remains resolute in its determination to reposition agriculture as the bedrock of the state’s economy.
Ishaku who spoke in Government House, Jalingo, on Friday during the inauguration of the Governing Council of the College of Agriculture and the swearing in ceremony of the chairman and members of the State Independent Electoral Commission, SIEC, said inspite of the challenges posed by insecurity and communal crises in the state, his administration has made significant progress in repositioning agriculture as a lucrative enterprise.
He said many people in the state were now into farming business on various scales and levels as a result of which Taraba State has joined the league of major producers of rice, maize, beniseed, soya beans and cassava, among others.
He said his government’s efforts in promoting agriculture has resulted in a situation whereby Taraba State is now contributing substantially to the food needs of the country.
The Governor said the ultimate goal of the state is to produce enough rice to meet the needs of the country and save the country the huge expenditure on importation.
He assured that his administration will assist farmers to secure financial assistance from local and international financial institutions to boost food production.
Governor Ishaku urged the Governing Council of the College of Agriculture to key into this policy of government for quicker results and advised the Council of the institution to come up with innovative ideas that can help farmers become more productive.
The Governing Council of the institution is headed by Dr Muhammed Shatta, a former minister.
Turning to the board of SIEC, Governor Ishaku praised the organisation for consistently asserting its independence and for conducting elections that were free, fair and credible.
He urged the commission to remain focused and should not be distracted by false accusations.
The board of SIEC is headed by Dr Phillip Duwe who also spoke on behalf of the two boards that were inaugurated.
Dr Duwe praised the Governor for always being meticulous in the choice of those who work with him and advised him not to listen to gossips.
He said that those of them honoured with these appointments would not disappoint the Governor “because we know that with every responsibility given, there are expectations.”
An urgent measles-rubella (MR) vaccination campaign was launched today in Kajiado County by the Government of Kenya, with the support of the World Health Organization (WHO), UNICEF, Gavi the Vaccine Alliance, and US Centers for Disease Control and Prevention.
The campaign, which will be conducted from 26 June to 5 July, aims to vaccinate 3.9 million children aged 9 months to 5 years, in 22 counties across Kenya.
The MR campaign is now underway in the counties of: Baringo, Bomet, Bungoma, Elgeyo, Garissa, Homabay, Kakamega, Kilifi, Kisii, Kisumu, Mandera, Marakwet, Migori, Nairobi, Narok, Samburu, Tana River, Trans Nzoia, Turkana, Vihiga, Wajir and West Pokot. The target counties were selected based on high numbers of unimmunized children and reported measles outbreaks.
Almost Four Million Children Set To Receive Measles-Rubella Vaccine-Brand Spur Nigeria
“The Government of Kenya has always prioritized the health of the people and that is why we are taking this urgent action to protect children from measles and rubella,” Chief Administrative Secretary for Health, Dr Mercy Mwangangi said.
“Children are a blessing from God and therefore there is no reason for them to suffer and die from preventable diseases. The vaccines are available free of charge and I urge all parents to ensure their children are vaccinated in order to protect them from these diseases.”
As part of the campaign, MR vaccines will be administered to children in health facilities, with mobile teams also providing vaccination in preschools, marketplaces, churches and other designated places on specific days. UNICEF has procured and delivered the vaccines and is supporting the mobilization of caregivers and communities. Mobile company AirTel is providing support through mass text messages, to raise awareness among parents in the target counties.
“All children have the right to access life-saving health care. Last year, routine health services including immunization were disrupted by the impact of COVID-19,” said UNICEF Representative to Kenya Maniza Zaman. “UNICEF is working hard to ensure that young and vulnerable children are vaccinated against measles and rubella.
Children under five-years-old can die from measles complications and if the virus circulation is not stopped, their risk of exposure increases daily. We know that vaccination is by far the best way to keep these children safe.”
Since 2016, the MR vaccine has been offered as part of the routine childhood immunization programme in Kenya, with one dose administered at nine months and the second dose at 18 months. To ensure adequate protection in communities, it is important that at least 95 per cent of children receive the two recommended doses. In 2020, only 85 percent of children in Kenya have received the first dose and less than 50 percent have had the second dose.
“This mass vaccination will provide an opportunity for all who missed their vaccines to get it and a supplemental dose for those who received their previous dose to boost their immunity,” WHO Representative to Kenya Dr Rudi Eggers said. “Vaccination against measles will protect children from this debilitating disease which is one of the leading causes of death among children less than five years old.
Vaccination saves lives, protects against diseases and ensures that children are healthy and thus do well in school and later on in life.” No child should suffer measles or die from measles or other vaccine preventable diseases while there is an effective vaccine that is made available by the Government of Kenya.”
Globally, reported measles cases fell from over 850,000 in 2000 to 132,000 in 2016, largely due to increased vaccine coverage in low and middle-income countries. However, in recent years global cases have surged dramatically. In 2018, there were nearly 360,000 cases recorded worldwide, while measles deaths climbed 50 percent from 2016 to 2019, claiming over 207,500 lives in 2019, according to data from WHO.
A recently released report by the Nigerian Stock Exchange (NSE) on domestic and foreign portfolio participation in equities trading showed that total equities market transactions decreased in May 2021 compared to the volume of transactions done in April 2021 as investors waited on the sidelines given the relative rise in interest rates, especially for 364-day treasury bills.
The stop rate for the 364-day T-bill rose to as high as 9.75% in May from 9.00% at the beginning of April 2021. Sell-offs by the domestic institutional investors were more intense, followed by retail investors.
Albeit, we witnessed slower outflows from the foreign portfolio investors. Hence, the ratio of total domestic transactions to total foreign transactions tilted to 79:21 in the month under review, from 82:18 in April 2021 – total domestic transactions plunged by 41.70% while total foreign portfolio transactions only contracted by 27.59%.
Notably, total transactions on the Nigerian Exchange Limited (NGX) decreased to N97.19 billion in May 2021 (from N159.93 billion printed in April 2021); of which total domestic transactions dropped month-on-month (m-o-m) to N76.90 billion (from N131.91 billion).
The FPI transactions decreased marginally to N20.29 billion in May (from N28.02 billion printed in April). A further breakdown of the FPI transactions in May 2021 showed that foreign portflio inflows fell to N13.01 billion (from 18.20 billion); also, foreign portfolio outflows moderated to N7.28 billion in May from N9.82 billion in April.
On the part of local investors, they reduced their stake in the equities market to take advantage of the rising money market rate, especially the domestic institutional investors – their transactions dropped m-o-m by 53.93% to N43.96 billion in May 2021.
Also, transactions of the retail investors fell to N32.94 billion in the month under review (from N36.50 billion in April 2021). Given the lukewarm approach of the domestic institutional investors as well as the retail investors, coupled with the sustained weakness in inflows from the FPIs, the NSE All-Share Index (ASI) fell by 3.51% to 38,437.88 index points at the close of May 2021.
In another development, the President of the Dangote Group, Alhaji Aliko Dangote, stated that the company’s new fertiliser plant began operation in the month of June 2021. He mentioned that the company would export its fertiliser, the first shipment, to Louisiana, in the United States, while the majority of the exports from the plant would be shipped to Brazil.
Dangote’s new fertiliser plant which is located at the Lekki Free Zone in Lagos State has the capacity to produce three million tonnes of urea in a year that would also be supplied to all the major markets in subSaharan Africa.
According to the World Bank, Nigeria consumed about 20kg of fertiliser per hectare of arable land in 2018, lower than 73kg consumed in South Africa, and 393kg in China.
Meanwhile, in order to reduce the demand pressure on the foreign exchange, especially the USD, the Federal Government banned the importation of NPK fertiliser in November 2018. In December of the same year, the Central Bank of Nigeria (CBN) also added fertiliser to the list of imported items that are ineligible to access foreign exchange from the official markets.
As the earlier rise in Treasury bills rates appears to be reversing and as CBN explores other avenues to stabilise foreign exchange rates, we expect the new development to have a positive effect on the real sector.
Given the declining trend in the inflation rate, the southward movement in interest rates may, however, be slow as inflation still poses a threat amid worsening insecurity. Hence, as the direction of yields takes a bearish turn, and as corporates prepare their books for interim-dividend payment, we expect investors’ participation in the stock market to improve in the third quarter of the year.
The award is based on the accumulated points total from agencies within each holding company. It is the first time that WPP has won the Holding Company of the Year award since 2017, and reflects investment in creative talent as part of WPP’s strategy for growth.
Ogilvy was the standout performer, with eight Grand Prix and a Titanium Lion for work including Stevenage Challenge (DAVID) and Moldy Whopper (DAVID and INGO) for Burger King; Courage is Beautiful for Dove (the moving tribute to front-line workers featuring the faces of healthcare professionals, etched with the marks from long hours in protective equipment); and Naming the Invisible by Digital Birth Registration for Telenor Pakistan.
WPP winners and shortlisted entries came from every part of the company, and from across its agencies. AKQA’s H&M Looop, a pioneering in-store recycling system designed to inspire a more sustainable approach to clothing among consumers, picked up a Grand Prix for Design, as did Superunion’s stunning work for sustainable packaging brand Notpla.
VMLY&R’s ingenious I Am for Starbucks, which created a safe space for trans people in Brazil to have their names legally changed, was awarded the Glass Lion for Change. Degree Inclusive by Wunderman Thompson for Unilever, the adaptive deodorant for people with upper limb disabilities or a visual impairment, was an Innovation Grand Prix winner.
Mark Read, CEO of WPP, said:
“A huge thank you to all our amazing people, agencies and clients, who are the ones who earned this accolade. What so many of the winners at this year’s Cannes had in common was a commitment to harnessing the power of creativity to bring about change for the better in the world.
My ambition for WPP is that we are known as the world’s most creative organisation and one that uses its creativity to build better futures for our people, planet, clients and communities. Becoming the most creative company in our industry is a good place to start.”
Rob Reilly, Global Chief Creative Officer of WPP, said:
“The past 18 months have been the most challenging of our lives. But we will look back on them as the time when creativity shined the brightest. Winning the most creative company of the year is a culmination of so many hours of tireless work from over 100,000 WPP people, fearless brand marketers and brilliant production partners. I am so proud to be a part of an industry that stepped up when the world needed creativity the most and the company that led the way.”
Situated in the tranquil city of Abeokuta, Ogun State, the New Guaranty Trust Training Complex also known as “Tayo’s Plaza” by Guaranty Trust Bank (GTBank) houses an 8 storey training complex that includes 105 ensuite residential rooms, half a dozen lecture halls, two fully equipped libraries, an amphitheatre and a banking hall with 24 teller terminals amongst other facilities. The training complex was commissioned on Thursday, June 24, 2021.
GTBank New Training School | Brand Spur Nigeria
All entrants to Guaranty Trust will now pass through Tayo’s Plaza, where they will undergo an intensive screening and extensive onboarding programme on delivering the best customer experience in financial services.
“Through our new training complex, we will continue to nurture and empower young people to think critically and break new grounds in excellence.” – Segun Agbaje
Fidelity Bank Plc announces the retirement of its Executive Director/Chief Operations and Information Officer, Mr. Gbolahan Joshua, from the services of the Bank with effect from June 11, 2021.
The Boord approved the retirement of its meeting of April 26, 2021, and communicated the same to the Central Bank of Nigeria, which formally noted the development.
Gbolohon Joshua | Brand Spur
Mr. Gbolohon Joshuajoined Fidelity Bonk Plc in April 2014 as a General Manager and was appointed to the Boord in September20l9. Whilst in the service of the Bank, he had responsibility for Corporate Strategy, Business Transformation, investor Relations, Performance Management, Operations, Technology, Digital Banking and Digital Marketing. His retirement comes after over seven (7) years of meritorious service to the institution.
Gbolahan attended Kings College Lagos, holds a Bachelor’s Degree in Accounting and he is a chartered accountant. He has attended several leadership and executive management training in leading institutions including Harvard Business School, Institute of Management Development, and IESE Business School
The Boord and Management of Fidelity Bank seize this opportunity to acknowledge Mr. Gbolohon Joshuo’s significant contributions to the growth and development of the Bonk during the period of his employment and tenure on the Boord.
After nearly three decades of instability and near liquidation, Okitipupa Oil Palm Plc released its audited full-financial year 2020 for the year ended December 31, 2020, which showed a significant return to profitability and also propose to pay dividends to its shareholders.
Chief Mobolaji Osomo, Chairman of the Board of Directors, made this disclosure at the 31st Annual General Meeting (AGM) of the company held on Tuesday, 22nd June 2021 in Lagos.
Key financial metrics:
The oil palm producing company emerged from a period of recurring losses for over a decade returned to a major turnaround with an unprecedented turnover of N548,216,198.00 in 2020 compared to N281,179,000.00 in 2019, a significant 94.97% increase in revenue.
In respect of the current year, the Directors recommend for approval a dividend of 25 kobo per 50 kobo ordinary share amounting to N24,000,000 subject to the deduction of Withholding Tax at the appropriate rate, 27 years after it last paid one.
In the same period, Brand Spur learnt that the company made a commendable profit after provision for tax and dividend payment in the sum of N229.8 Million in 2020 against a profit of N3.6Million in 2019.
However, this is attributable to a change in its business strategy driven by a new agricultural operations model undertaken to re-position the company which is being consolidated in 2021 and certain to producing even far significant results.
2020 N’000
2019 N’000
Revenue
548,216
281,179
Profit/(Loss) before Tax
256,458
-65,920
Profit/(Loss) after Tax
244,465
3,552
Selling, General & Admin. Expenses
-223,138
-139,294
The rollout of Recovery plans
In order to sustain these encouraging trends, strategies have been developed to completely rescue the company’s plantations from the claws of the unauthorized persons who had been exploiting them without let or hindrance for over 2 decades.
The successful implementation of these strategies will increase the exploitable plantation resources, increase the profits through effective control of cost and also maintain respectable and sustainable growth.
The board, during the course of the restructuring exercise, has taken steps to qualify the company for the Central Bank of Nigeria (CBN) agricultural loan facilities which the apex bank has encouraged organisations such as ours to seek in order to inject affordable and necessary funds for the restructuring and revival of the company.
The management of the company believes that the company is ripe for much-needed funds to be injected into the company and would leave no stone unturned to access this facility, in conjunction with subsequent rounds/series of financing will catapult the company back to the apex of oil palm producing companies in Nigeria.
Increase in the share capital
In the light of the above, the Board has called on its shareholders to approve strategic measures being undertaken to bring about the monumental changes the company desires which have been captured in several resolutions being laid before them at this annual general meeting.
The measures include but not limited to the resolutions for the increase in the share capital of the company from N50,000,000.00 to N1,000,000,000,000.00 as well as the approval of the Core Investor Sale Exercise geared towards the injection of fresh capital and technical expertise in the Company.
Principal Activities of the company
The principal activities of the Company are the development of oil palm plantations, palm oil milling, palm kernel processing and vegetable oil refining. The products of the Company are: refined bleached and deodorized palm oil, palm olein, palm stearin, palm fatty acid distillate, palm kernel oil (crude and refined) and palm kernel cake.
Okitipupa Oil Palm PLC was incorporated as a limited liability company on the 17th day of May 1976 to take over the Okitipupa Oil Palm Project under the management of the Nigerian Joint Agency Limited. In 1980, the company was brought under the supervision of the Governor’s Office.
In May 1987, the Ondo State Investment (Holding) Company Limited was established and vested with all the State Government’s interest in Okitipupa Oil Palm Company Limited. The company became Public Liability Company in the year 1993.
Nigeria’s train transportin the first quarter of 2021 surges to N926.72 million compared to N698.4 million recorded in Q1 2020.
The 33% surge was contained in a recent railway transport report by the National Bureau of Statistics (NBS).
Revenue generated in the review period also represents a 92% increase compared to N481.57 million recorded in the previous quarter (Q4 2020).
Revenue generated from passengers stood at N892.47 million in Q1 2021, a 39.3% increase compared to N640.52 million recorded in Q1 2020.
The number of passengers that made use of trains as a means of transportation in the period reduced by 34.4% to stand at 424,460 compared to 647,055 recorded in the corresponding period of 2020.
The number of passengers however increased by 214.8% compared to 134,817 recorded in the previous quarter.
The volume of goods transported stood at 10,511 tonnes, representing a 43.1% year-on-year decline compared to 18,484 tonnes conveyed in the corresponding quarter of 2020.
The data revealed that revenue generated in the period increased despite the reduction in the number of passengers that boarded and the volume of goods transported by train. This is a reflection of the surge in the prices of goods and services in the country over the past two years.
According to the NBS, Nigeria’s inflation rate galloped to 18.17% in March 2021 from 15.75% rate recorded in December 2020, which indicates a 2.4% points increase in the first quarter of 2021. The increase in the inflation rate was largely influenced by a similar surge in core inflation from 11.37% to 12.67%.
A cursory look at the data revealed that the Nigerian Railway Corporation generated N5.8 billion between January 2019 and March 2021, recording the highest quarterly income in Q1 2021.
The increase can be largely attributed to the increase in the fare per trip, considering the year-on-year decline in the number of passengers conveyed through train in Q1 2021. Notably, the number of passengers reduced from 647,055 in Q1 2020 to 424,460 in the review quarter.
Also, the volume of goods/cargos transported by train, reduced from 18,484 tonnes to 10,511 tonnes. Meanwhile, revenue from passengers spiked by 39.3% while revenue from cargos dipped by 50.3% in the period under review.
With 3D printing making an impact on the digitalization of manufacturing and the disruption of industries, a new study by HP in partnership with 3dbpm Research found that additive manufacturing (AM) is playing a significant role in enabling this transition.
According to the study, which analyzed key digital manufacturing trends among leading industrial parts manufacturers in Europe, 96% of respondents agreed that additive manufacturing helps them to get products to market faster, with 100% of respondents recognizing the importance of increasingly digitizing their production workflows with the ability to produce parts on-demand as the biggest driver of this behavior.
In addition, it was discovered that 63% of European parts manufacturers who took part in the survey will invest from€100,000 to over a million in digitalization over the next 12 months, as the power of this agile ecosystem and technological capabilities are proving themselves in the most demanding of circumstances.
The HP AM Trends in EMEA Report dissects the motivations and investment strategies of manufacturers across five key European markets: France, Germany, Italy, Spain, Benelux and the United Kingdom. Led by 3dpbm, a sample of industrial parts manufacturers of varying sizes and across a broad range of specializations were independently surveyed.
The study examines how firms that have already implemented digital and AM manufacturing processes for the production of industrial parts, perceive the benefits of pursuing such a strategy, and to what extent they expect the macrotrend to continue to accelerate in the short and medium-term.
“A digital transformation of manufacturing is underway,” said Guayente Sanmartin, Global Head & General Manager, HP 3D Printing Multi Jet Fusion Business. “The leading companies of the future will be those that harness the power of software, data, AI, and digital manufacturing to reinvent and personalize customer products and experiences.
Great progress has been made over the last few years, with our HP Multi Jet Fusion technology delivering more than 60 million 3D printed parts since its inception. The need for this technology has increased exponentially over the last 15 months.”
The report indicated that sustainability has an influence on the decision to digitalize manufacturing workflows, with 61% of respondents agreeing that it is a relevant factor driver behind digitalization. In addition, 91% noted that the ability to produce parts on demand was an important benefit, with a further 79% of those surveyed believing that additive manufacturing helps them deal with production challenges – such as the ability to adapt to fluctuating demand.
“The advanced capabilities of 3D printing are creating entirely new opportunities for disruption across industries andwith a far more environmentally sustainable approach, which is a significant driver for manufacturers today,” added Sanmartin. “3D printing and its intrinsically flexible nature empowers a more circular economy.”
The reportreveals that additive manufacturing operates as a key opportunity in the digitalization of industrial manufacturing processes, with digitalization considered a necessity for the near entirety of manufacturing processes by a large majority of survey respondents (96%).
The use of additive manufacturing in industrial parts manufacturing was reported as key to producing more cost-effective components, as well as making better products at faster speeds. UK and German industrial parts manufacturers interviewed are planning the most significant investments in digitalization and additive manufacturing, with 50% of British and 40% of German respondents saying they intend to spend more than €1 million over the next five years.
Other findings revealed that 83% of survey respondents use additive manufacturing for the actual production of components and tools to make commercial products, with half of them (52%) already making complete finished products which is the final frontier of addictive manufacturing.
“3D printing is no longer exclusive to tools and small volumes of parts,” said Stijn Paridaens, CEO of Digital Manufacturing service bureau ZiggZagg. “It is having a much bigger impact for our customers and it is why we are investing in 3D as the primary manufacturing offering for our customers. We believe HP Multi Jet Fusion Technology is the leading industrial technology to enable us to go from small series productions to medium and, in some cases, even large production of up to 200,000 final parts.”
This report builds on the findings of HP’s Digital Manufacturing Trend Report published in October 2020, providing a more extensive analysis of key drivers, investment strategies and country-specific trends within Europe.
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