15 December 2020 – Finland – Nokia today announced that it has been selected by Proximus Luxembourg in a seven-year deal to supply 5G coverage nationwide. The project will support Proximus Luxembourg’s efforts to deliver on the Luxembourg government’s strategy of digitizing the country and driving innovation underpinned by 5G networks.
Nokia will replace the incumbent radio vendor in the deal with deployment expected to commence next year.
Nokia will supply its AirScale Single RAN (S-RAN) portfolio for both indoor and outdoor coverage, including 5G RAN, AirScale base stations and Nokia AirScale radio access products. Proximus Luxembourg has also been awarded spectrum in the 700Mhz band for ultra-reliable, low-latency communication and the 3.5Ghz band for dense urban coverage.
These solutions will enable Proximus Luxembourg to build on its existing network leadership and deliver connectivity and capacity benefits to consumers at ultra-low latencies, as well as reducing complexity and increasing cost efficiencies. Nokia Software’s NetAct network management solution will securely manage Proximus Luxembourg’s networks.
Both companies will leverage their keen focus on innovation to accelerate the digitalization of Luxembourg through the development of connectivity, resilient infrastructures and 5G in demand by both consumers and business segments such as financial or manufacturing. The deal consolidates Nokia’s existing partnership with Proximus Luxembourg and the Proximus Group, following Nokia’s recent appointment by Proximus Belgium for 5G.
Gérard Hoffmann, CEO of Proximus Luxembourg:
“Luxembourg is a very dynamic and competitive market that represents many opportunities in the 5G era across a range of verticals. Working together with Nokia we want to encourage consumers and businesses to fully embrace 5G and take advantage of the incredible opportunities it will bring to the country.”
Tommi Uitto, president of Mobile Networks at Nokia, said:
“We are delighted and proud to extend our long-standing partnership with Proximus Luxembourg which demonstrates its continued confidence in Nokia and our technology. Nokia was also recently selected by Proximus Belgium for 5G and this deal continues Nokia’s strategic partnership with the Proximus Group. We look forward to supporting its 5G journey.”
The Vice-Chairman of Flour Mills Nigeria Plc (FMN), Ukpabi Emmanuel Akwari, purchased a total of 879,552 shares of the company, worth ₦24,275,635.20 million.
In a notification issued by the company’s secretary, Mr Joseph Umolu to the Nigerian Stock Exchange (NSE), the Vice-Chairman purchased the ordinary shares of Flour Mills Nigeria on November 5, 2020.
Emmanuel Akwari Ukpabi is on the board of Flour Mills Nigeria Plc (former CEO, Director, Group MD & Head-Investor Relations), Golden Sugar Co. Ltd. and Apapa Bulk Terminal Ltd. and Council Member at Manufacturers Association of Nigeria.
Dr. Ukpabi previously occupied the position of President at Association of Food Beverages & Tobacco Employers and Chairman of United Cement Co. of Nigeria Ltd.
He received an undergraduate degree from the University of Nigeria.
Over nine months into Covid-19 outbreak in Nigeria, there are concerns about how well the country has managed the pandemic. Adejuwon Soyinka, from The Conversation Africa, asked Doyin Odubanjo, executive secretary, Nigerian Academy of Science, to assess the situation and how it might affect the country’s ability to manage other equally important diseases.
The Nigerian government struggles to contain Covid-19 while other diseases suffer some measure of neglect Photo by Kola Sulaimon/AFP via Getty Images
Where does Nigeria stand as far as Covid-19 is concerned at the moment?
I would say we are in the wilderness. Basically, we don’t know where we are. I think the only thing that everybody agrees on is that the disease doesn’t have the bite in Nigeria that it has in other parts of the world. And that we are really thankful for.
We don’t have the capacity to test as we should. Many Nigerians are also not compliant with the regulations and preventive protocols and many state governments are tired of following Covid-19 protocols and spending so much money. We can’t tell the burden of the disease in our midst.
What we know is that the positivity rate is lower than it used to be. In a bunch of samples, you get fewer positive cases.
Perhaps we have developed herd immunity. But we don’t know. We have to do what we call seroprevalence studies in communities, to see if people have immunity already against this virus.
What are the implications of Covid-19 for Nigeria’s health sector?
I think the impact of Covid-19 in Nigeria is both good and bad. Good in the sense that everybody, from the government to the people on the streets, realised the importance of health. A lot of private-sector people also recognised that we need our health system to work.
But with the number of strikes, for instance, that we have seen in the health sector and the kind of response we have seen from the government, one wonders whether we understand the gravity of the situation.
Secondly, the whole world now realises the importance of health. And that means many countries are beginning to rejig their health systems, which begins with the workforce. Countries will have special visas and visa exceptions to attract health workers and other professionals.
Those countries are repositioning to avoid another situation, like this. But I’ve not heard of this in Nigeria. That is saddening because it means our health workers now have more opportunities to leave this country and work elsewhere.
Nigeria does not give health workers a comfortable environment to work in. The pressure of not getting good remuneration, not having equipment to work with, of insecurity in their country, is pushing them out.
If we have ever worried about migration of health workers, we need to worry much more now.
And thirdly, Covid-19 is not just a health pandemic, it is also a “socio-economic pandemic”. We have fewer funds to work with, so we can’t finance the health sector. We’re talking about good remuneration, fixing hospitals, ensuring they have electricity, running water, the right equipment for diagnosis and treatment and all of that and yet there is an economic downturn.
What about other diseases that have been neglected because of the focus that has been given to Covid-19 in the last nine months?
One of the dangers, not just in Nigeria but globally, is that the management of Covid-19 has ensured that all other diseases have been neglected somewhat.
Hospitals were shut down and were only attending to Covid-19 patients because they were afraid of the risk of transmission to anybody else who came in, even for routine surgeries. Women couldn’t go to the antenatal clinics, or even have safe delivery in the hospital. Those who needed cancer screening couldn’t get it.
The amount of money that went into Covid also ensured that we were not spending money on other things. Disease surveillance is a critical part of public health. And there are certain key diseases that are notifiable. If you even see a single case of that disease, you must quickly notify authorities because they must work on it before it becomes a big issue.
Institutions like the Nigeria Centre for Disease Control have different units, for example, a yellow fever unit. Those people are meant to have been focused on their diseases, despite Covid-19. However, there is no telling whether some of these workers have been diverted to Covid-19 activity.
We probably neglected a lot of things we should be doing. But yellow fever outbreaks are expected to happen from time to time, especially in places where the vaccination programmes have not been adequate all along. There have been warnings for a few years now that Nigeria needed to do quite a comprehensive yellow fever vaccination programme.
What should be the focus areas for health in 2021? What vaccination programmes are at risk?
In most cases, a country has to pay in advance to book the vaccines it needs. As far as I know, Nigeria has not defaulted on those payments, so we should have our vaccines. The National Primary Health Care Development Agency (NPHCDA) is in charge of our routine vaccination programmes. The Nigeria Centre for Disease Control (NCDC) is the one primarily driving the Covid-19 response. So we expect the vaccination to be fine.
The challenge is how to position the health system in the coming year. There will be fewer workers and most likely less funding but greater need. We need to understand the importance of a very strong health system.
I think the fact that Covid-19 could take out some very important personalities should send a message home that even if you can afford the best insurance or best healthcare anywhere in the world, you could have outbreaks of diseases here in Nigeria that can still kill you. And there’s nothing better than having a health system that can work for you and the rest of us around you. That’s the best way to be safe.
What should Nigerians be doing to keep the pandemic at bay until the vaccination arrives?
I think we should follow the known precautions: be careful with contact with people, be careful with crowds because anybody could be a carrier of the disease. Take all the precautions you can, like wearing a mask and washing your hands, just in case you came in contact with the virus. It’s important to take the Covid-19 precautions very seriously.
There are certain general things we could fix in our lifestyle to avoid diseases. Significant vaccination for Covid-19 is not likely to happen in Nigeria in less than a year. We must continue with life, but we must continue with caution. If we just take the right precautions, we should be fine.
The total value of capital importation into Nigeria stood at $1,461.49m in the third quarter of 2020. This represents an increase of 12.86% compared to Q2 2020 and -74.03% decrease compared to the third quarter of 2019.
The largest amount of capital importation by type was received through Other investment, which accounted for 43.75% ($639.44m) of total capital importation, followed by Foreign Direct Investment (FDI), which accounted for 28.38% ($414.79m) of total capital imported and Portfolio Investment which accounted for 27.87% ($407.25m) of total capital imported in Q3 2020.
Nigerian_Capital_Importation_Q3_2020_Brandspurng
Sector
Capital importation by Production dominated in Q3 2020 reaching $400.09m of the total capital importation in Q3 2020.
Source of capital investment
The United Kingdom emerged as the top source of capital investment in Nigeria in Q3 2020 with $594.65m. This accounted for 40.69% of the total capital inflow in Q3 2020.
Destination of Investment
Lagos state emerged as the top destination of capital investment in Nigeria in Q3 2020 with $1,208.74m. This accounted for 82.71% of the total capital inflow in Q3 2020.
Bank (capital investment)
Standard Chartered Bank Nigeria Limited emerged at the top of capital investment in Nigeria in Q3 2020 with $438.98m. This accounted for 30.04% of the total capital inflow in Q3 2020.
10 illegal taxes and forms of extortion the government needs to get Nigerians to stop paying in 2021 as they are impoverishing an already stretched people.
Boko Haram and bandits receiving “protection fees” from state governors
Religious leaders selling all sorts of miracle cures to desperate people afflicted with illnesses
Civil servants receiving fees before processing forms submitted to government offices
Omo Onile’s levying you at every stage of you building your house in Lagos. They take money for foundation, decking, roofing, etc
Youths setting up illegal toll gates in communities whenever they need money
Women asking men for “transport money”
Picture by Ibanga Isine
Given the seriousness of our economic situation right now, drastic action is required. All these taxes need to be reviewed one by one.
Nigeria needs about $100bn invested in her infrastructure but also needs liquidity in the economy to purchase finished goods. Above all, we need to invest in manufacturing.
What makes my heart bleed is that we are not even giving this matter any thought. We naively believe crude oil dollars will keep flowing forever!
Written by:
Ayo Akinfe, born in Salford, Manchester, is a London-based journalist who has worked as a magazine and newspaper editor for the last 20 years. Ayo attended Federal Government College Kaduna and obtained his first degree in history from the University of Ibadan.
DO YOU FEEL lucky? The number 21 is connected with luck, risk, taking chances and rolling the dice. It’s the number of spots on a standard die, and the number of shillings in a guinea, the currency of wagers and horse-racing.
It’s the minimum age at which you can enter a casino in America, and the name of a family of card games, including blackjack that is popular with gamblers. All of which seems strangely appropriate for a year of unusual uncertainty. The great prize on offer is the chance of bringing the coronavirus pandemic under control.
But in the meantime risks abound, to health, economic vitality and social stability.
Fights over vaccines. As the first vaccines become available in quantity, the focus will shift from the heroic effort of developing them to the equally daunting task of distributing them. Vaccine diplomacy will accompany fights within and between countries over who should get them and when. A wild card: how many people will refuse a vaccine when offered?
A mixed economic recovery. As economies bounce back from the pandemic the recovery will be patchy, as local outbreaks and clampdowns come and go—and governments pivot from keeping companies on life-support to helping workers who have lost their jobs. The gap between strong and weak firms will widen.
Patching up the new world disorder. How much will Joe Biden, newly installed in the White House, be able to patch up a crumbling rules-based international order? The Paris climate treaty and the Iran nuclear deal are obvious places to start. But the crumbling predates Donald Trump and will outlast his presidency.
More US-China tensions. Don’t expect Mr Biden to call off the trade war with China. Instead, he will want to mend relationships with allies to wage it more effectively. Many countries from Africa to South-East Asia are doing their best to avoiding picking sides as the tension rises.
Companies on the front line. Another front for the US-China conflict is companies, and not just the obvious examples of Huawei and TikTok, as business becomes even more of a geopolitical battlefield. As well as pressure from above, bosses also face pressure from below, as employees and customers demand that they take stands on climate change and social justice, where politicians have done too little.
After the tech-celebration. In 2020 the pandemic accelerated the adoption of many techno- logical behaviours, from video-conferencing and online shopping to remote working and distance learning. In 2021 the extent to which these changes will stick, or snapback, will become clearer.
A less footloose world. Tourism will shrink and change shape, with more emphasis on domestic travel. Airlines, hotel chains and aircraft manufacturers will struggle, as will universities that rely heavily on foreign students. Cultural exchange will suffer, too.
An opportunity for climate change. One silver lining amid the crisis is the chance to take action on climate change, as governments invest in green recovery plans to create jobs and cut emissions. How ambitious will countries’ reduction pledges be at the UN climate conference, delayed from 2020?
The year of déjà vu. That is just one example of how the coming year may feel, in many respects, like a second take on 2020, as events including the Olympics, the Dubai Expo and many other political, sporting and commercial gatherings do their best to open a year later than planned. Not all will succeed.
A wake-up call for other risks. Academics and analysts, many of whom have warned of the danger of a pandemic for years, will try to exploit a narrow window of opportunity to get policymakers to take other neglected risks, such as antibiotic resistance and nuclear terrorism, more seriously. Wish them luck. The coming year promises to be particularly unpredictable, given the interactions between the pandemic, uneven economic recovery and fractious geopolitics.
And it’s not all doom and gloom. So let the dice fly high—and, whatever cards 2021 may end up dealing you, may the odds be ever in your favour.
Lafarge Africa Plc announces the appointment of Mrs. Virginie Darbo as a non-executive director on the board of the Company effective 11th of December, 2020, as Mr Olivier Guitton, formerly a Non-Executive Director resigns from the Board of the Company with effect from 10th of December 2020.
RESIGNATION OF MR. OLIVIER GUITTON
The resignation of Mr. Olivier Guitton as a Non-Executive Director on the Board of Lafarge Africa Plc with effect from the 10th of December 2020.
Mr. Olivier Guitton | www.brandspurng.com
Mr. Olivier Guitton was appointed to the Board of the Company on the 8th of April 2020 as a Non-Executive Director, until his resignation from the Board.
The Board and Management of the Company appreciates Mr. Guitton for his contributions and wish him the best in his future endeavours.
APPOINTMENT OF MRS. VIRGINIE DARBO
The Board is pleased to announce the appointment of Mrs. Virginie Darbo as a Non-Executive Director on the Board of Lafarge Africa Plc with effect from the 11th of December, 2020.
PROFILE OF MRS. VIRGINIE DARBO
Mrs. Virginie Darbo (French) is currently the Head of Finance, Middle East & Africa at the LafargeHolcim Group. She is a high calibre CFO with 24 years of international experience, dealing with complex environments in various finance positions.
Virginie has worked with the LafargeHolcim Group for a period of 17 years, during which she led five strategic assignments across France, China, Russia, and Algeria. She had occupied various positions as Chief Financial Officer, Algeria; Chief Financial Officer, Russia; Project Controller, Russia; Internal Control Director, China and Asia among others.
Virginie has extended experience in crisis management. She is a change agent, greatly contributing to digital and commercial transformation, with exceptional skills in dealing with delicate situations and strategic issues. She is an inspirational leader and talent developer, managing multi-cultural teams with empathy, passion and drive.
At the FGN bonds space, the market opened the week on a quiet note as we saw a slight pull-back from the recent weakness. These may be likened to the cut in the latest bond auction circular, which was offered 20Bn lower than last month, and the possible outcome of the bond auction scheduled to hold this week.
We saw a bit of interest at the belly of the curve, particularly for the 2034s,2035s, and 2037s. However, the few trades dealt struggled to trade around 7.10% levels compared to 7.20% offered last week, the 2049s and 205s papers gained less traction today, quoted mainly around 7.40% levels, 100bps lower than previous week closing.
Nevertheless, yields compressed by an average of 67bps across the benchmark curve.
We expect market activity to remain weak during tomorrow’s trading session as market attention shifts to the outcome of the bond auction scheduled to hold on Wednesday.
Benchmark FGN Bonds
Treasury Bills
Following the double auction (NTB and OMO) outcome held last week, we saw rates retraced across all maturities in the bills space, increasing aggressively across the curve. Although the market isn’t trading at the auction levels, we saw tangible improvements in rate crossing over from the sub-one levels for the latest 1year issue.
The latest one-year OMO/NTB bill issue stayed offered around 1.20%, although bids stood far apart at 1.70%, making it difficult to close, we also saw the interest for Jan- April bills, which was mainly offered around 0.30%.
Tomorrow, we do not expect any immediate change in market mood to trading; however, we might see a bit of cherry-picking, especially on long-dated bills offered at attractive levels.
Money Markets
The interbank market opened the new week still adequately liquid, closing the day at approximately N382.66bn positive. However, we saw a slight movement in OBB and OVN, increasing by an average of c.19bps to close the day at 0.67% and 1.08%, respectively.
We expect rates to remain low close but reverse towards the end of the week as debits from bi-weekly retail auction and bond auction hit the system.
FX Market
The Nigerian IEFX window was relatively stable, with rates depreciating slightly compared to Friday’s closing, although the volumes traded at this level were very scanty.
At the parallel market, the Naira lost approximately N1.50K in both cash and transfer window to close at N475.00/$ and N490.00/$ respectively, while the CBN Spot and SMIS rates remained static at N379.00/$ and 380.69/$ respectively.
Eurobonds
The NIGERIA Sovereigns resumed its bullish run in today’s trading session, as demand improved across the sovereign curve, especially on mid-tenured papers, caused mostly by short-covering by market dealers. By and large, Yields compressed by an average of c.6bps across the sovereign curve.
The NIGERIA Corporates opened the week on a rather drab session as the market remained lowly supplied on most of the tracked papers.
Yesterday the historical 70th Formula 1® season 2020 finished with the final race in Abu Dhabi. Traditionally the official logistics partner of the motorsport series took this as an occasion to announce the winners of its two DHL ‘Fastest Awards’.
This season, world champion Lewis Hamilton has again defended the DHL Fastest Lap Award, which is presented to the Formula 1® driver with the fastest laps in a season.
Hamilton (Mercedes-AMG Petronas F1 Team) topped the table again this year with six fastest laps. | www.brandspurng.com
Hamilton (Mercedes-AMG Petronas F1 Team) topped the table again this year with six fastest laps, ahead of Max Verstappen (Aston Martin Red Bull Racing), who claimed the fastest lap three times.
For Hamilton, the award represents another record in 2020. He has drawn level with Michael Schumacher at seven world titles this year and is also the only driver to have won the DHL Fastest Lap Award five times since the award’s inception in 2007.
Formula 1® has again been slightly faster in 2020 than in previous years, with new lap records set at the Red Bull Ring, the Hungaroring, Silverstone Circuit, Circuit de Catalunya-Barcelona and the Nürburgring.
In the pit-lane, Red Bull really does seem to give you wings: the Aston Martin Red Bull Racing team has won the DHL Fastest Pit Stop Award in 2020. It is their third win in a row, and they are clearly a cut above: in the 17 races this season, Red Bull had the fastest pit crew 15 times. Max Verstappen has benefited from the fastest pit stop eight times, while his teammate Alex Albon has been the beneficiary seven times.
“The new records show that the drivers and teams have coped well with the many changes in the race schedule and with the infection prevention measures that are in place,” said Arjan Sissing, Head of Global Brand Management at Deutsche Post DHL Group.
“The race logistics have also worked really well in a difficult environment because in this pandemic year of 2020 we have had to plan international races within just a few weeks. Our experience has enabled us to offer safe, fast and reliable logistics in Formula 1 even under extraordinary conditions.”
As a result of the COVID 19 pandemic the original 22 race calendar proposed for the 2020 season, was reshaped into an epic 17 racing spectacle. The rapid response and short-notice nature of the planning presented F1® and DHL’s race logistics team with major challenges to overcome to put on this memorable season.
DHL has been active in Formula 1® for nearly 40 years, and official logistics partner since 2004. DHL ensures the smooth transportation of race cars, fuel and equipment to racetracks around the world.
The transport volume comprises up to 2,000 tons, which must be transported within the shortest possible time and with high reliability. To this end, DHL employs a team of motorsports logistics specialists, who work closely with Formula 1® management and the racing teams. Just as it is out on the track, the “race behind the race” is all about speed, precision and state-of-the-art technology.
This piece of development was revealed by the President of the NRFF Kelechukwu Mbagwu during a virtual meeting with members of the NRFF Board
LAGOS, Nigeria, December 14, 2020, – The Nigeria Rugby Football Federation (NRFF)has released courses and guidelines for prospective enthusiasts who intend to deepen their knowledge of the sport at the National Institute of Sports (NIS) ahead of the 2021/2022 session.
This piece of development was revealed by the President of the NRFF Kelechukwu Mbagwu during a virtual meeting with members of the NRFF Board.
The announcement of this latest development confirmed the underground efforts made by the Board to expand rugby from the fields to the lecture rooms where more knowledge can be acquired by Coaches and Administrators.
Last week, the Director of the country’s foremost Institute, Dr. John Dadi-Mamud confirmed the inclusion of rugby into its programme after meeting with some members of the federation in Lagos.
The courses include;
Advanced Certificate, Diploma, Higher Diploma in coaching, marketing, stadium management and sports management with a maximum duration of 24 months.
A three-month sandwich basic coaching certificate is also on offer for candidates interested in expanding their knowledge in rugby and other 22 sporting disciplines.
The inclusion of rugby in the programme of the institution has been eliciting some level of excitement from players, coaches and some other enthusiasts who describe it as a positive move at creating an intellectual boost to the game in the country.
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Nigerian_Capital_Importation_Q3_2020_Brandspurng
