Over the last years, ESPN’s business model has changed, both from a digital and broadcast perspective. The multinational cable sports channel is putting a bigger focus on its additional paid service, ESPN+, as the number of sports fans who chose live streaming instead of other media platforms continues to rise.
According to data presented by Safe Betting Sites, the number of ESPN+ subscribers hit 13.8 million as of April, a massive 75% increase year-over-year.
The Number Of Subscribers Doubled Amid The Pandemic
Not meant as a replacement for the cable channel, the ESPN+ has become essential for sports fans who don’t have the cable channel to access ESPN’s content and coverage. It has also grown into a necessary service for sports fanatics, searching for exclusive access to specific sports coverage, special analysis, events, shows, and much more.
In the first quarter of the fiscal year 2019, ESPN+ had around 1.4 million subscribers, revealed the Walt Disney Company’s financial results. Over the next twelve months, this figure jumped by 370% to 6.6 million.
However, statistics show the number of subscribers surged after the pandemic struck, as more and more sports fans started choosing live sports streaming over other media platforms. Since January 2020, the number of ESPN+ subscribers more than doubled, rising from 6.6 million to 13.8 million.
Almost 40% Of Sports Fans Choose Live Streaming Content, China Leads In Global Comparison
The global YouGov survey conducted in January 2021, revealed some interesting facts about the platforms and media channels sports fans choose to watch sports content. Although live TV still represents the global number-one choice for watching sports, almost 40% of sports fans prefer live streaming content.
Statistics show that sports fans aged between 18 and 24 lead in watching live sports streaming, with 47% of them using these services. Millennials, aged between 25 and 34, ranked second with 45% of respondents who stated they do the same.
The social media platforms ranked as the third-most-popular choice for watching sports content, with a 34% share among respondents. Online content, mobile apps, and newspapers followed with 25%, 24%, and 19% share, respectively. Only 8% of all respondents followed sports via magazines.
The survey also showed China represents the leading market for live sports streaming, with 54% of respondents who use online streams to follow the sport. Indonesia, Taiwan, the Philippines, and the United Arab Emirates followed with 50%, 49%, and 42% share, respectively.
The United States, France, and Japan were on the other side of the list with a 17%, 16%, and 13% share, respectively.
Cadbury Nigeria Plc (‘the Company’ or ’Cadbury’), recorded a 4% YoY uptick in revenue from N8.92bn in Q1 2021 from N8.55bn in Q1 2020 on account of higher domestic sales.
However, owing to the higher cost of sales (+19% to N7.42bn in Q1 2021 from N6.26bn in Q1 2020) attributed to the impact of FX challenges, gross profit dipped by 35% YoY to N1.49bn in Q1 2021 from N2.37bn in Q1 2020.
Operating profit significantly dropped by 63% YoY to N323mn in Q1 2021 from N882mn in Q1 2020 despite a 21% YoY decline in operating expenses. Cadbury’s profitability was negatively affected by a higher cost margin, which resulted to a 62% fall in profit before tax to N345mn in Q1 2021 from N913mn in Q1 2020. Similarly, profit after tax fell by 62%
to N242mn in Q1 2021 from N639mn in Q1 2020.
Resurging Pandemic Hampers Export Sales
The breakdown of revenue according to geography showed that domestic sales rose 16% to N8.55bn in Q1 2021 from N7.34bn in Q1 2020. Conversely, export sales fell to N375mn in Q1 2021 from N1.21bn in Q1 2020. Given that Cadbury exports to countries mainly in Africa and Europe, we attribute the weak export sales to the restrictions imposed due to the resurgence of new variants of the COVID-19 virus,
especially in Europe.
The further breakdown according to segments revealed a 26% YoY growth in Refreshment Beverage to N5.68bn in Q1 2021 from N4.49bn in Q1 2020 while Confectionary grew by 4% to N2.94bn in Q1 2021 from N2.83bn in Q1 2020. However, intermediate products dipped markedly by 75% to N306mn in Q1 2021 from N1.24bn in Q1 2020. Overall, the sharp decline in intermediate products and the weak export sales partially contributed to weak growth in total revenue in Q1 2021.
Higher Cost of Sales Effaces Gross Margin
Cadbury’s gross margin contracted in Q1 2021 to 17% from 27% owing to an increase in cost of sales.
In Q1 2021, cost of sales rose to N7.43bn from N6.26bn in Q1 2020. The rise in cost of sales translated to a higher cost margin of 83% in Q1 2021 from 73% in Q1 2020. In our view, the higher cost margin could be attributed to higher input costs induced by the difficulty in sourcing for FX to import raw materials. Given the high level of competition in the industry and macroeconomic challenges as it relates to households’ income and purchasing power, we posit that the ability of the Company to raise
price was limited.
Lower Operating Expense Insufficient to Boost Earnings
Operating expense declined by 21% YoY to N1.17bn in Q1 2021 from N1.48bn in Q1 2020. Specifically, a 22% YoY decline in selling and distribution expense to N893mn in Q1 2021 from N1.14bn in Q1 2020, combined with a 19% YoY decline in administrative expense to N274mn in Q1 2021 from N340mn in Q1 2020 led to the overall decline in operating expense. However, due to weak revenue sales, the reduced operating expense had a relatively insignificant impact, as operating profit plunged markedly.
Similarly, net finance cost declined to N23mn in Q1 2021 from N30mn in Q1 2020. Regardless of the decline in net finance cost, profit before, and after-tax declined.
Outlook
We expect the Company to raise the prices of its products in the near term, in response to the rising input costs in a bid to protect its margins. However, owing to the intense competition in the industry, we do believe that the Company would be cautious in passing the entire cost burden to consumers.
In its exports market, we expect to see a recovery in some of its key export market, on the back of the flattening of the Covid curve.
We revised our FY 2021 revenue projection to N38.64bn (previous: N41.73bn). However, we forecasted a higher net income of N 1.11bn for FY 2021 (previous: N678mn). Our higher net income adjustment stemmed from our expectations of sustained cost optimization and overall operating efficiency.
Our revised fair value estimate for the Company is N5.61 (previous: N5.72). The relatively unchanged fair value, despite our higher earnings forecast was due to a lower justified P/E for the stock. In arriving at our fair value estimate, we used a blend for Discounted Cash Flow (DCF), Discounted Dividend Model (DDM), Residual Income Model (RIM), and Enterprise Value (EV/EBITDA) methodologies.
We used a higher discount rate – induced by the rising trend of benchmark rates in the fixed income market to discount our projected earnings and cash flows. At the stock’s current market price, we believe that the stock is trading above its fair value by 26%. Hence, we recommend a SELL.
A deal has been reached in the acquisition of Retail Supermarkets Nigeria Limited (RSNL), owner and operator of the Shoprite stores in Nigeria, by Ketron Investment Limited, a Nigerian company owned by a group of reputable institutional investors led by Persianas Investment Limited.
The divestment by Shoprite International is in line with its strategy to change from an ownership model to a franchise model. This change in ownership has also received the approval of the Nigerian regulator, the Federal Competition and Consumer Protection Commission (FCCPC).
Speaking onthe acquisition, Chairman, Ketron Investment Limited, Tayo Amusan said, “We are thrilled to complete the acquisition of Shoprite, ensuring the continued operations of one of the biggest retail success stories in Nigeria. We look forward to building an even stronger company following our acquisition and are excited about the greater impact we will achieve to the benefit of our customers and other stakeholders now and well into the future”.
Since its launch in Lagos in December 2005, Shoprite has expanded to 25 outlets across eleven states and Abuja, FCT. According to the terms of this acquisition, Ketron acquires 100% ownership of Shoprite in Nigeria and will continue operations across all existing outlets. It also plans to open additional stores and introduce more Nigerian-made products in the stores. This he noted, will also result in more opportunities for Nigerians.
“It is our vision to create fundamental change for the better within Nigeria,” said Amusan. “With benefits from our knowledge of the ever-evolving Nigerian retail marketplace, well-grounded social and economic research, and hands-on experience from our team, we are confident that this acquisition will foster a robust and sustainable business model for the ultimate benefit of all stakeholders” he concluded.
Professional services firms, KPMG Advisory Services, MBO Capital Management Limited and Banwo & Ighodalo advised Ketron on the deal. Jide Ogundare, CEO, MBO Capital stated that the deal signals an opportunity for Ketron to uphold a thriving business.
“It will be hard work,” he said, “but with the plans we have in place, and with the support of the larger Shoprite family in Nigeria including our staff and every Nigerian shopper that walks through our doors, we are confident of success.”
Shoprite Holdings is Africa’s largest food retailer, operating 2,843 supermarkets in 15 countries and serving 35 million customers in Africa and the Indian Ocean Islands.
At the moment, Shoprite Nigeria’s supply chain includes more than 300 leading Nigerian suppliers and boasts small businesses and farmers among its partners and suppliers. Ketron has said that Shoprite International will continue as technical advisers and Ketron will sustain the relationships established by Shoprite over the last decade and a half while ensuring a smooth “transfer of values.”
Leading foods manufacturer, HoneywellFlour Mills Plc. (HFMP) today announced its audited results for the year ended March 31, 2021. The company recorded an all-time high revenue of N109.5 billion, an increase of 36% over N80.4 billion posted in the previous year.
This was due to increased production output and more efficient operational capabilities at its factories in Apapa, Sagamu and Ikeja.
Given the increase in production activities, challenges with forex and COVID-induced disruptions in global trade which affected the sourcing of raw and packaging materials, the cost of sales grew by 41% to N93.9 billion from N66.5 billion in the previous financial year. However, the company’s Operating Profit grew faster than revenue at 39%, from N5.4 billion in FY 2020 to N7.6 billion in FY 2021.
This was attributable to improved efficiencies and cost optimization strategies which saw selling and distribution expenses decreased by 8% to N5.5 billion, while general and administrative expenses only slightly increased by 4% from N2.4 billion in FY 2020 to N2.5 billion in FY 2021, despite double-digit inflation during the period.
Consequently, Profit After Tax (PAT) increased by 73%, growing from N650 million in FY 2020 to N1.1 billion in the period under review.
Speaking on the Full Year 2021 financial results, Lanre Jaiyeola, Managing Director, Honeywell Flour Mills, Plc., said: “In an extremely challenging year caused by unprecedented global disruptions and uncertainties, we achieved 36% revenue growth and record-breaking success through sheer grit and doggedness of our workforce.
L-R- Lanre Jaiyeola, Managing Director, Honeywell Flour Mills Plc and Yewande Giwa, Company Secretary, Honeywell Flour Mills Plc-Brand Spur Nigeria
We worked collaboratively towards the execution of our goals; improved production and cost optimization, guided by a clear strategy and common purpose.
We remain committed to ensuring the supply of affordable nutritious food products to Nigerians, and we continue to assure our shareholders of long-term profitable returns from Honeywell Flour Mills Plc.”
According to the company, the future of its business would be shaped by continued investment in innovative product development, advanced technology infrastructure and operational efficiency. This is evidenced by the efficient utilization of its world-class factory in Sagamu, Ogun State which boasts an annual Pasta production capacity of 138,600 Metric Tonnes and contributed over N19 billion to the company’s overall revenue in the 2021 financial year, its second year of operations.
The company will continue to improve its product offerings in order to exceed consumers’ expectations, increase market share, and deliver value to shareholders.
Honeywell Flour Mills Plc is a leading food company producing, marketing and selling of high-quality food products in the fast-moving consumer goods (FMCG) space.
The Company’s range of products that have become staples in Nigerian homes includes Honeywell Superfine Flour, Honeywell Bakers Delight Flour, Honeywell Pastry Flour, Honeywell Semolina, Honeywell Whole Wheat Meal, Honeywell Macaroni, Honeywell Spaghetti and the popular variety of Honeywell Noodles.
In today’s trading session, the equities market improved by 0.18% to close at 38,482.52 points. The market capitalization increased by the same magnitude to close at ₦20.06 trillion.
Three of the five sectoral indices under coverage improved. The insurance index, the biggest gainer, strengthened by 0.76%, followed by Industrial goods (0.50%) and Banking (0.03%) indices respectively. On the flip side, Consumer goods (-0.16%) and Oil & Gas indices were the laggers.
Investor sentiment weakened in today’s trading session, as market breadth declined to 0.75x from 1.06x. This was illustrated by the advance of 15 stocks, led by UPL (9.38%) and REGALINS (8.16%), and the decline of 20 stocks, led by CWG (-9.66%) and IKEJA HOTEL (-9.09%).
In terms of activity levels, total volume and value declined by 42.94% and 49.43% compared to the previous, as investors exchanged about a 156.91million units of shares worth over an N1.33billion.
Fixed Income
There was inactivity across the bond yield curve as 3 of the 4 bond yields under coverage remained constant while the 10-Year tenor ( FGN-JUL-2030) declined by 0.27%. FGN-APR-2023, FGN-APR-2024 and FGN-JAN-2026 remained constant at 11.80%, 12.06% and 12.55% respectively.
Treasury bill yields for 90, 180, and 365-day papers closed at 4.63%, 6.13% and 9.56%.
We expect a return to bearish momentum as investors’ sentiment will be swayed by the search for real positive returns and developments in the fixed interest rates.
Market Snapshot
Bullish Sentiment in Equities Market, NSE ASI Up 18bps
Inactivity Across Bond Yield Curve as 3 of the 4 tenors remained constant
Bullish Sentiment persists in Global Stocks
Brent Oil maintains the $70 a barrel but declined marginally against the previous.
Parallel Market Exchange Rate Reports at ₦498.00/1$
To sports car enthusiasts the world over, the Supra nameplate is synonymous with Toyota performance. This latest generation keeps finding ways to blend speed, power, and style with the introduction of the GR Supra A91-CF (Carbon Fiber) Edition.
Limited to just 600 vehicles, this 2022 special edition is the most exclusive Mark V Supra to date. It offers all the style, performance and technology that drivers expect, with obsessive attention to detail that fits a racing legend. With the bold, sleek look of carbon fiber accents and a duckbill spoiler, this eye-grabbing new limited-run special edition is sure to sell fast.
The fifth-generation Supra shook the automotive world when it arrived on the scene in 2019. It put pure driving fun above all else with a focus on performance specs and relentless track testing. Like the rest of Supra’s fifth-generation lineup, the A91-CF Edition serves up brilliantly balanced handling and g-force generating power.
In this case, 382 horsepower from a turbocharged three-liter inline-six, delivers a zero-to-60 time of just 3.9 seconds. This special edition takes the performance formula even further with an array of carbon-fiber elements – hence the “CF” in its name.
The GR Supra A91-CF Edition features new carbon fiber front splitter and larger canards, while its carbon fiber side rockers define the lower edge along the sides. Around back, the carbon fiber treatment continues, with a duckbill spoiler catching the air up top and lower canards doing so down below.
This aero kit isn’t just for looks. Its functional purpose improves downforce and stability during both everyday drives and hot laps around the local track. Additionally, unique 19-inch wheels sport a matte-black texture that complements A91-CF Edition’s available matte-gray Phantom paint color – Absolute Zero White and Nitro Yellow round out the color choices.
Supra’s already-incredible features remain standard, including an aggressive eight-speed Z-F8 transmission with paddle shifters, Adaptive Variable Sport suspension and active rear sport differential, and front Brembo brakes with red calipers and emblazoned silver Toyota Supra logo come standard.
GR Supra A91-CF Edition brings an exclusive, refined interior as well, with a red-and-black theme throughout its Alcantara-and-leather-trimmed cabin. It includes red stitching details on standard 14-way power-adjustable, heated sport seats, along with carbon-fiber interior trim, leather-wrapped three-spoke steering wheel, and sport pedals.
Pricing will be announced in the coming months, with dealer availability expected this fall.
Toyota Launches Exclusive GR Supra A91-CF Edition-Brand Spur Nigeria
Legendary Performance with Spec Variety
It takes a relentless spirit to win at the 24 Hours of Le Mans race. Known as the “Grand Prix of Endurance and Efficiency,” just completing the race is an achievement. Toyota Gazoo Racing has taken the crown for the past three years.
The same determination that fuels those wins goes into every GR Supra.
In 2021, Toyota Gazoo Racing kept the pedal down and boosted output of the Supra’s turbocharged 3.0-liter inline-six from 335 to 382 hp – a 14% increase after just one year on the market. Torque rose from 365 lb.-ft. at 1,600-4,500 rpm to 368 lb.-ft. at 1,800-5,000 rpm.
The Supra 3.0 chassis was also tweaked heading into its second year of production. Lightweight aluminum braces were added to increase lateral rigidity, along with front and rear bump stops and new damper tuning. Revised programming for the electric power steering (EPS), Adaptive Variable Suspension (AVS), Vehicle Stability Control (VSC) and Active Differential made the Supra more stable through quick transitions, such as compound turns.
But making changes to Supra wasn’t enough for the GR team. The 2021 Supra 2.0 was also added to the lineup and gave customers an intermediate model between the Toyota 86 and the Supra 3.0. With a 2.0-liter inline four-cylinder engine, this Supra 2.0 shares much of its technology with the 3.0-liter inline-six, including a twin-scroll turbo, direct fuel injection and continuously variable timing on both the intake and exhaust camshafts. The variable intake valve lift system adjusts intake valve timing and duration. The bottom line is 255 hp at 5,000-6,500 rpm and a stout 295 lb.-ft. peak torque at 1,550 to 4,400 rpm, launching the 2.0 to 60 mph in just 5 seconds.
The Supra A91-CF Edition is one more way that the obsessive, gear heads on the GR Team keep things interesting. Additional changes across the Supra lineup for 2022 include standard heated seats in the 3.0 grade and a new red interior for the 3.0 Premium grade. All models with premium audio add full screen Apple Car Play® compatibility.
Complimentary 1-year NASA Membership
Every 2022 GR Supra comes with a complimentary one-year membership to the National Auto Sport Association (NASA). As part of this membership, GR Supra owners will enjoy benefits like a free High-Performance Driving Event (HPDE) and discounted admission to NASA-sanctioned events. The HPDE Program is NASA’s high-performance driving school on an enclosed road course. It’s designed for licensed drivers in streetcars like the GR Supra. It consists of an all-day course with classroom instruction, on-track driving and opportunities to connect with other sports car enthusiasts. Instructors are provided free for all beginner drivers.
Tech & Safety at Supra Speed
Along with the rest of the Supra family, the GR Supra A91-CF edition delivers awesome entertainment and convenience with an 8.8-inch touchscreen with touchpad control, navigation, user friendly wireless Apple Car Play compatibility, AM/FM, and SiriusXM® All Access three-month trial. The 500W 12-speaker JBL® audio system is standard.
All GR Supras come equipped with a number of intelligent safety features, including a Pre-Collision System, with Pedestrian Detection, Lane Departure Warning with Steering Assist, Automatic High Beams, and Speed Limit Information.
A Safety & Technology Package is also available for MY22 on the 2.0 and 3.0 grades, it includes:
Dynamic Radar Cruise Control (Full speed)
Blind Spot Monitor (BSM)
Rear Cross-Traffic Alert (RCTA)
Parking Sensors with Emergency Braking Function
Navigation
12-speaker 500-watt JBL Audio System
Wireless Apple CarPlay® compatible (iOS only)
Supra Connected Services, such as Remote Services, Remote Maintenance, Automatic Emergency Call, Real-Time Traffic Information, Stolen Vehicle Recovery and Map Updates
The Driver’s Assist Package will be available as an option on the MY22 3.0 Premium and A91-CF Edition, it includes:
Dynamic Radar Cruise Control (Full speed)
Blind Spot Monitor (BSM)
Rear Cross-Traffic Alert (RCTA)
Parking Sensors with Emergency Braking Function
All GR Supra grades offer access to Toyota Connected Services featuring emergency calling, roadside assistance, remote control lock/ventilation, real-time traffic information, map updates and Toyota Supra Online (Services available online; app available for iOS only), subscription required.
The car that marked the revival of Toyota’s sportscar lineage will now give drivers even more of the agility, style and responsiveness they desire.
For this round, the detail-obsessed Toyota Gazoo Racing team brings enhanced handling and exterior aerodynamics, increased power and an upgraded interior.
These changes earn it a Gazoo Racing badge, joining Toyota’s ever-growing, global sportscar line as the all-new 2022 GR 86.
Drivers Rejoice! Toyota Debuts All New GR 86-Brand Spur Nigeria
With its wide stance and low center of gravity, the 2+2 rear-wheel-drive coupe’s handling changes come in the form of front- and rear-frame reinforcements that increase rigidity. Functional exterior air vents were also added to further support steering stability. Weight shaving details, such as aluminum roof panels and fenders, also kept it at a nimble curb weight of just over 2,800 lbs.
The 2.4L naturally aspirated, horizontally opposed four-cylinder boxer engine, brings the power upgrade – increasing from 205 to 228 hp and from 156 to 184 lb.-ft. of torque on the manual version. The power boost comes from tweaks like increased bore size, changes to the intake and exhaust systems, and optimization of the Toyota D-4S dual injection technology. Drivers will have the choice of a 6-speed manual (MT) or automatic transmission (AT).
Zero to 60 times have dropped from 7 to 6.1 seconds for the MT and from 8 to 6.6 seconds for the AT.
Available in two grades, GR 86 and GR 86 Premium, it will come in seven exterior color choices, including the aptly named Track bRED. The premium-grade comes equipped with a rear duckbill spoiler, adding dynamic contours to the car’s sporty feel.
The cabin gets upgraded front seats with a deep bucket design and side bolsters that keep driver and passenger supported during serious cornering. GR 86 Premium grade seats are upholstered in Alcantara with leather accents. Leather-trimmed driver touchpoints and silver-colored accents also add a race-inspired touch to the cabin.
Additional interior upgrades include a three-mode digital display, offering different information layouts for Normal, Sport or Track driving modes. An 8-inch Multimedia Touchscreen with six speakers comes on the standard grade, while an eight-speaker system comes standard on the Premium grade, and available Connected Services, Apple CarPlay® & Android Auto™ compatibility with NFC pairing, and a Sirius-XM® three-Month All Access trial brings drivers their tech fix.
Iconic Sportscar Design…Tweaked in the GR Garage
When the 86/Scion FR-S was introduced in 2012, Akio Toyoda’s aim was to re-capture the spirit of Toyota’s famed sports car from the 1980s and ‘90s. With a name in tribute to the mid-1980s AE86 known in Japan as the “hachi-roku” (meaning 8-6) and known in the U.S. as the Toyota Corolla GT-S, the 86/FR-S was developed to give sportscar purists an affordable, agile rear-drive sports coupe.
The new generation GR 86 takes cues from its “hachi-roku” forefather.
Its low overall height and hip point give it an athletic look. The fender tops extend horizontally to the beltline and give it a stance distinctive of front-engine, rear-wheel-drive sportscars. Its low, horizontal underbody and narrowed rear cabin combine to create a launch-ready appearance. Color choices include Track bRED, Trueno Blue, Neptune Blue, Halo White, Steel Grey, Pavement Grey and Raven Black
The move from a 2.0L to a 2.4L engine has increased displacement nearly 20%, from 1,998cc to 2,387cc. Thanks to that increase, GR 86 now has 228 hp and 184 lb.-ft. of peak torque, which it now hits at 3,700 rpm, the previous generation hit max torque at 6,600 rpm.
The result? The all-new GR 86 now delivers linear acceleration across a wider band of rpms, delivering a longer surge to drivers.
The front of the vehicle features a GR-specific Functional MATRIX “G Mesh” Grille, which fuses performance and expressiveness. Its angular LED headlights complement the aerodynamic front aim dams and vents, with side sill spoilers to aid steering responsiveness and stability. And those vents? Well, we’ve placed ducts in the front bumper and wheelhouse, so air that’s induced while driving is distributed to the wheelhouse and inside bumper, reducing air stagnation.
Additional “Hachi-roku” inspired elements to take the form of its Torsen® limited-slip rear differential and RWD platform. With easy-to-control stability from a sport-tuned independent MacPherson® strut front and double-wishbone rear suspension.
Mountain-road-ready stopping power is delivered by 11.6- and 11.4-inch vented front and rear brakes, and corner-chewing grip coming from Michelin Primacy HP® tires on 17-inch wheels on the GR 86, and Michelin Pilot Sport 4® tires aboard forged black 18-inch wheels on the Premium grade.
Drivers Rejoice! Toyota Debuts All New GR 86- Brand Spur Nigeria
The Art & Science of “86-ness”
The magic of the classic AE-86 was in its famously responsive handling and throttle.
For the new GR 86, the design of the Boxer-4 allows for balanced maneuverability. The horizontal cylinders contribute to overall vehicle weight control and allow for ultra-low placement in the engine bay, giving the car well-grounded confidence at a curb weight of just over 2,800 lbs.
The 2.4L engine’s bore and stroke dimensions have increased from 86 mm x 86 mm to 94 mm x 86 mm, and displacement is up from 1998cc to 2387cc. The engine retains the Toyota-innovated D-4S Dual Injection technology system that combines direct fuel injection and port-injection technologies, while the port injection and in-cylinder injection have been optimized. The direct-injection system provides a cooling effect in the cylinders, which allows the engine to use a high 12.5:1 compression ratio for maximum power. Meanwhile, the port fuel injectors come into play during light- and medium-load conditions to help maximize combustion efficiency.
It gives drivers an experience that only a naturally aspirated engine can deliver – one so scientifically refined, it brings drivers enough power to keep them engaged with a throttle that responds to their every whim.
The automatic and manual transmissions have also received the GR treatment.
The six-speed automatic transmission now employs adaptive controls that sense brake and accelerator operation, automatically shifting to the optimal gear so the driver can experience just the right amount of control. Torque capacity has also increased, as well as the number of clutch discs.
The manual transmission now uses low-viscosity oil and strut bearings that enhance clutch capacity and gear strength. These materials support the higher torque output of the 2.4L boxer engine. The essence of GR 86-ness is also captured through a redesigned, low catch manual gear box that delivers smooth, enjoyable control for manual transmission aficionados.
Add it all together and you get the agility, responsiveness and easy-to-drive feeling that equals “86-ness.”
Track Ready Performance, Everyday Comfort
GR 86’s driver-focused cockpit is designed to elevate the daily driving experience while also offering a simplicity that keeps drivers squarely focused on the road. Start up the GR 86, and you’re greeted by a 7-inch Thin Film Transistor (TFT) screen with an opening animation sequence inspired by the piston movements of the GR 86’s horizontally opposed engine.
The display has an all-new three-mode digital instrumentation with Normal, Sport and Track modes. While in Track mode, drivers get real-time readouts of gear position, engine speed, water temperature and oil temperature.
The horizontally configured instrument panel now has LCD toggle displays with silver trimmed dials that give the cabin a modern, race-inspired feel. A leather-trimmed steering wheel (AT only: with paddle shifters) and leather-wrapped parking brake handle and gear shift boot also add refinement.
Standard sport front bucket seats with side bolster firmly hold drivers in place around each corner, with upgraded leather-trimmed sport seating and aluminum pedals on the Premium model. The GR 86 also brings everyday usability, with 2+2 seating that offers the versatility of fold-down rear seats.
Drivers Rejoice! Toyota Debuts All New GR 86- Brand Spur Nigeria
Tunes, Tech, and Safety
Toyota GR 86 comes standard with an 8-inch touchscreen display and six-speaker audio system, with eight speakers on the Premium model. It includes Bluetooth® for hands-free phone capability, a SiriusXM® three-month All Access trial, wired Apple CarPlay® & Android Auto™ compatibility, two USB ports and one auxiliary port, and trial access to a suite of available connected services (with additional subscription).
GR 86 features Toyota’s Smart Key System (on both doors) with Push Button Start and adds an alarm to the anti-theft system. It lights the night with Standard LED headlights and available adaptive front lighting on the Premium grade.
All grades of the GR 86 come with Toyota’s Star Safety System™, which includes Vehicle Stability Control (VSC), Traction Control (TRAC), Anti-lock Brake System (ABS), Electronic Brake-force Distribution (EBD), and Brake Assist (BA). It also includes Smart Stop Technology® (SST), Vehicle Stability Control (VSC), Track Mode and Hill Start Assist Control (HAC). Additional safety features include LATCH (Lower Anchors and Tethers for Children) with lower anchors on outboard rear seats and tether anchors on all rear seats and a Tire Pressure Monitor System (TPMS). Seven airbags are standard on all models, with the addition of a driver’s knee airbag.
The Automatic Transmission version comes with active safety standard that includes Pre-Collision Braking, Adaptive Cruise Control, Pre-Collision Throttle Management, Lane Departure Warning, Sway Warning, Lead Vehicle Start Alert, Cruise Control and High Beam Assist.
Complimentary 1-year NASA Membership
Every 2022 GR 86 comes with a complimentary one-year membership to the National Auto Sport Association (NASA). As part of this membership, GR 86 owners will enjoy a host of benefits, including one free High-Performance Driving Event (HPDE) and discounted admission to NASA-sanctioned events.
Maintenance Included & Limited Warranty
ToyotaCare is included on all 2022 GR 86 models, a no-cost plan covering normal factory-scheduled maintenance and 24-hour roadside assistance for two years or 25,000 miles, whichever comes first.
Toyota’s 36-month/36,000-mile basic new-vehicle warranty applies to all components other than normal wear and maintenance items. Additional 60-month warranties cover the powertrain for 60,000 miles and corrosion with no mileage limitation.
Preliminary Specifications
All specifications are estimated and values and not final.
GR 86 pricing will be announced in the coming months and it will go on sale later this year.
The inaugural edition of Bank Wars, a FIFA 21 Gaming competition for leading Nigerian banks, will come to an exciting climax on Saturday, June 5, 2021, as Access Bank and Standard Chartered go head-to-head in the final.
Bank Wars is sponsored by the foremost Original Equipment Manufacturer, Samsung.
Earlier on Saturday, two losing semi-finalists, Fidelity Bank and Sterling Bank will trade tackles in the third-place match. The game kicks off by 12pm.
Thereafter, attention will shift to the potentially heavyweight clash between the best two sides in the competition. Access Bank and Standard Chartered both have a 100 per cent record heading into the final and either side would be keen to claim the debut edition of the competition with a victory on Saturday.
To get to the final, Standard Chartered thrashed Sterling Bank 15 – 9 in the first semi-final encounter played on Saturday, May 29, 2021. The one-sided encounter saw the victorious side dominate the tie, leaving viewers who thronged the Tech Experience Centre, the venue of the competition, in no doubt as to their intent ahead of the final.
Bank Wars Final: Access Bank And Standard Chartered To Clash This Saturday-Brand Spur Nigeria
On its part, Access Bank equally served full notice of its desire to emerge, inaugural winners of the competition, with an impressive 13 – 8 victory over Fidelity Bank in the second semi-final tie. The game, which kicked off by 1:45 pm, witnessed a keenly-contested and action-filled encounter, which ended with Access Bank’s superior quality showing through on the day.
Excitement has reached fever-pitch level ahead of the third place and final matches on Saturday, with eager spectators already indicating their intention to storm the Tech Experience Centre to witness the encounters.
The Tech Experience Centre, Africa’s cutting-edge technology and lifestyle hub, is located at Yudala Heights, 13 Idowu Martins Street, Victoria Island, Lagos.
Meanwhile, the matches will also be streamed live to a global audience on YouTube, as the organizers respond to the yearnings of potential spectators outside Nigeria who desire to follow the action. The third place and final match can be streamed live here from 12pm on Saturday: https://youtu.be/M6aS9gU3M0E
Winners of the FIFA 21 Gaming competition will smile home with some mouth-watering prizes, courtesy of Samsung.
A Samsung 55-inch TV awaits the first prize winner while the runner-up will go home with a massive Samsung Refrigerator. Also, the third best team will claim a Samsung Washing Machine. In addition, there are prizes for individual representatives of the competing teams while the best goal of the competition (to be determined by votes) will fetch the scorer a Samsung 49-inch TV.
To celebrate this 2021 Mother’s Day in May, Mouka rolled out the ‘Mum in Business Challenge’ to reward female entrepreneurs with cash grants for their ventures.
Brand Spur Nigeria understands that the initiative is in line with the brand’s mission of adding comfort to life and falls under its CSR pillar of “skills for life”.
See Photo Of This Year’s Winners Below;
From Left: From Left: Tara Koko, Winner of the third prize of N200,000; with Love Ajagbe-Ayankola, Winner of the first prize of N500,000; and Abiola Lawson-Ayodele, Winner of the second prize of N300,000 in the Mum-in-Business competition organised by Mouka, Nigeria’s leading manufacturers of mattresses and beddings, in celebration of mothers on Friday, May 28, 2021- Brand Spur NigeriaFrom Left: Femi Fapohunda, Chief Operating Officer, Mouka; with Love Ajagbe-Ayankola, Winner of the first prize of N500,000 in the Mum-in-Business Competition; Ife Durosinmi-Etti, Chief Executive Officer, AGS Tribe; and Anu Anibaba, Program Manager, AGS Tribe; at the presentation of cheques to the three winners of the competition organised by Mouka, Nigeria’s leading manufacturers of mattresses and beddings, in celebration of mothers on Friday, May 28, 2021-Brand Spur Nigeria.From Left: Femi Fapohunda, Chief Operating Officer, Mouka; with Tara Koko, Winner of the third prize of N200,000 in the Mum-in-Business Competition; Ife Durosinmi-Etti, Chief Executive Officer, AGS Tribe; and Anu Anibaba, Program Manager, AGS Tribe; at the presentation of cheques to the three winners of the competition organised by Mouka, Nigeria’s leading manufacturers of mattresses and beddings, in celebration of mothers on Friday, May 28, 2021-Brand Spur Nigeria.From Left: Femi Fapohunda, Chief Operating Officer, Mouka; with Abiola Lawson-Ayodele, Winner of the second prize of N300,000 in the Mum-in-Business Competition; Ife Durosinmi-Etti, Chief Executive Officer, AGS Tribe; and Anu Anibaba, Program Manager, AGS Tribe; at the presentation of cheques to the three winners of the competition organised by Mouka, Nigeria’s leading manufacturers of mattresses and beddings, in celebration of mothers on Friday, May 28, 2021-Brand Spur Nigeria.
The immediate Past Director General and Chief Executive Officer of the Nigerian Maritime Administration and Safety Agency (NIMASA); Mr. Dakuku Peterside, the Senior Special Assistant (Education) to the Executive Governor, Lagos State, Mrs. Adetola Salau, the General Manager, Consumer Marketing, MTN Nigeria Mr. Kola Oyeyemi, and the Executive Vice Chairman, Verdant Zeal Group, Dr. Tunji Olugbodi, recently led other dignitaries at the unveiling of the Boy-Child Transformation Centre (BTC) in Lagos.
A brainchild of Ms. Nkiru Moghalu-Oguadinma, the Centre is an intervention platform that provides a positive, permanent shift in the quality of the life of the boy-child. The Boy-Child Transformation Centre aims to impact society by promoting healthy, respectful, boy-child causes while offering transformational programmes and resources for schools, foundations, community groups and government agencies.
In her welcome address, the founder and Chief Transformation Officer of the Boy-Child Transformation Centre, Ms. Moghalu-Oguadinma noted that so much emphasis has been placed on the girl child and it has made the boy-child an endangered gender.
(L-R) Mr Kola Oyeyemi, GM, Consumer Experience, MTN Nigeria; Dr Dakuku Peterside, former DG/CEO, Nigerian Maritime Administration and Safety Agency NIMASA; Nkiruka Oguadinma, founder and Chief Transformation Officer, Boy-Child Transformation Centre BTC; Hon Adetola Salau, Senior Special Assistant to Lagos State Governor on Education and Dr Tunji Olugbodi, Executive Vice Chairman, Verdant Zeal at the official launch of Boy-Child Transformation Centre, an initiative to save the Boy-Child, held in Lagos over the weekend-Brand Spur Nigeria
According to her, “Evidence shows that more women and girls have received attention and consideration as they are seen as more vulnerable to abuse, attacks, and also as being less privileged. However, the boy-child grow to become a bigger danger to the society.”
She noted that when a crime occurs in society, it is likely to be 4-times a man than a woman. The National Bureau of Statistics (NBS) has revealed the top 10 crimes in the country to include stealing, armed robbery, murder, Indian hemp offenses, sex offenses, contempt of court offenses, unlawful possession of arms, and properties are committed by men.
Today, the prisons have 90% men convicts. Other challenges that boys face have led to a surge in suicide rates; the use of drugs and narcotics and school dropouts.
Delivering the keynote address, Dr. Dakuku Peterside noted that there is a need to end the various stereotypes against both genders. He noted that the girl-child is genetically and biologically stronger than the boy-child. As more boy-child die in the first 5 years.
He charged everyone to raise responsible boys from the family circles, adopt a mentorship model and ensure that there is Peer Support System. He urged the government, at all levels, to advance the interest of children through various policies.
Highlighting the various ways by which the Lagos State Government is working at advancing the cause of children in the State, the special guest at the event and Senior Special Assistant (Education) to the Executive Governor, Lagos State, Mrs. Adetola Salau, stated that the state is working on building the holistic child by entrenching character development as part of the curriculum.
She admonished everyone to work in harmony, collaborate and ensure that team building is reintegrated into our lives. “Every child desires a society should that accepts and places value on every human being regardless of gender”, she added.
Panelists who contributed to discussions at the event include Mr. Kola Oyeyemi, General Manager, Customer Experience, MTN Nigeria; Dr. Tunji Olugbodi, Executive Vice Chairman, Verdant Zeal Group; Dr. Ifeyinwa Nwakwesi, CEO, Healthy Living Services; Mr. Bayo Sanni, an Impact Investor and Mrs. Fabian Ogunmekan, Executive Director, Women in Successful Careers (WISCAR).
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
