Complete List of Dividends and Bonuses declared on NSE in 2020 (August)

Esan Bolaji
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Complete List of Dividends and Bonuses declared on NSE in 2020 (August)

In the year 2020, some companies have announced the payment of dividends to their shareholders (final and interim), while others have chosen to given bonus shares.

A final dividend is the cash reward paid to investors at the end of the company’s financial year, while the interim dividend is the one paid after six months of the accounting year.

For the financial year ended December 31, 2019, some firms have already proposed payment of dividends, which should be approved at their Annual General Meetings (AGMs).

Complete List of Dividends and Bonuses declared on NSE in 2020 (August)

We have compiled the list of organisations quoted on the Nigerian Stock Exchange (NSE) that have so far announced the payment of various dividends.

The list is presented in the table below with the date declared, the amount, qualification date, closure of register date and the payment date.

Brand Spur promises to regularly update the list as more companies announce their dividends.

2020  CLOSURE OF REGISTER – DIVIDENDS AND BONUSES (as at August 21, 2020)

[table id=24 /]

Call for MTN Foundation-MUSON Scholarship Programme 2020 begins

Esan Bolaji
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Call for MTN Foundation-MUSON Scholarship Programme 2020 begins

MTN Foundation has commenced calls for application for the Musical Society of Nigeria (MUSON) scholarship programme 2020. The call for application, which began on Friday, August 7, 2020, is open to musically inclined young Nigerians across the country.

MUSON, MTN Foundation, MUSON Scholarship Programme,

Since 2006, the MTN Foundation partnering with MUSON has funded and developed over 330 music scholars providing a scholarship award covering tuition, transportation, resource materials, among others for a two-year diploma.

MUSON’s internationally recognised programme promotes the understanding and performance of classical and contemporary music. All applicants must possess a minimum academic qualification of GCE with at least 5 credit passes including English or its SSCE equivalent. In addition, applicants must have a grade 5 or higher pass certificate of MUSON or any other recognized music examining body.

Speaking on the scholarship, Acting Executive Secretary of MTN Foundation, Odunayo Sanya, said: “Music is a universal form of expression. Music education is however not readily available or affordable to millions of young Nigerians. It has been inspiring seeing our young scholars excel in various areas of music across the globe. We are excited at the talent we will receive this year, and look forward to playing our part in achieving their dreams.”

HEADLINES YOU MIGHT HAVE MISSED FROM BRAND SPUR

NNPC generates $4.60bn revenue from 19.104bn litres of crude oil, gas export in one year

The Nigerian National Oil Organization (NNPC), on Sunday, said it made a sum of $4.60billion from raw petroleum and gas sent out between June 2019 and 2020.

The shape of disruption in the retail space: how it works, how to respond to it, and why it matters

You won’t find too many jokes about ‘digital transformation’. It’s a serious business. And if you ask who is doing it, every corporate will raise their hands – but there’s little agreement around exactly what it is, the implications for the organisation, how to go about it. RMB’s recent retail client webinar, featuring Wits’ Prof Brian Armstrong, provided strong direction.

Nigeria’s GDP Shrinks by 6.10% in Q2 2020 – NBS

Nigeria’s Gross Domestic Product (GDP) decreased by -6.10% year-on-year) in real terms in the second quarter of 2020, ending the 3-year trend of low but positive real growth rates recorded since the 2016/17 recession.

Market Cap of the World`s Five Largest Automobile Manufacturers Plunged by $63bn in 2020

The COVID-19 pandemic has had a severe impact on the global automotive industry, causing supply chain disruptions and factory closures. All of this placed intense pressure on the market already coping with a downshift in global demand.

Digital Ticketing Sales to Grow 150% by 2022, as Passengers Return to Travel

Hampshire, UK – 24th August 2020: A new study from Juniper Research has found that digital ticketing transaction volumes will exceed pre-COVID levels by 2022; rising from 12.7 billion in 2020 to 32 billion in 2022. It anticipates that continued easing of global travel restrictions will drive increased demand for mobile ticketing in the rail, metro and bus sectors, as commuters return to work.

IITA empowers Ogoni youth on agribusiness for sustainable livelihoods

The Federal Government of Nigeria, through the Ministry of Environment in partnership with IITA, under the Hydrocarbon Pollution Remediation Project (HYPREP), commissioned a cassava processing factory in Korokoro Community, Tai Local Government Area of Rivers State.

Aruba Research: Network as A Service Adoption to Accelerate by 38% Within the Next Two Years as Businesses Adapt to COVID-19

74% of organizations reported moderate to significant impact to their employees due to the pandemic

Victor Osimhen’s transfer: A potential financial boost for Napoli?

Barely one month that SSC Napoli announced the arrival of Nigeria’s international forward, Victor Osimhen, has the club been thought by many football pundits to witness a drastic team and financial improvement. Although the Italian club signed the ace striker at a transfer fee of €70million (N31, 363,237,623.12k) potentially rising to €80 million with add-ons, highest in the history of the club.

Coca-Cola sponsors solar-powered recycling hubs in Abuja, Lagos

Esan Bolaji
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Coca-Cola sponsors solar-powered recycling hubs in Abuja, Lagos

Coca-Cola, through its philanthropic arm, The Coca-Cola Foundation (TCCF) has given a grant to the Initiative For The Advancement of Waste Management in Africa (W.A.S.T.E AFRICA), a non-governmental organisation, to promote waste as a valuable currency for social good and economic inclusion in Abuja and Lagos.

 

The funding will be used to build seven solar-powered recycling hubs in satellite towns such as Nyanya, Zuba, Bwari, Kuje, Gwagwalada, Jikwoyi and Galadimawa. Residents will also be encouraged to adopt the habit of recycling and turn their waste into wealth, while the eighth solar-powered recycling hub to be built in a low-income suburb of Lagos.

READ ALSO: Victor Osimhen’s transfer: A potential financial boost for Napoli?

Speaking on the NGO’s objectives with the recycling hubs, Olufunto Boroffice, Convener of W.A.S.T.E Africa explained, “Adequate financing for collection and disposal of plastic waste is one of the biggest issues impacting recycling in Nigeria. A primary challenge is the scaled recovery of plastic bottles. I am thankful to The Coca-Cola Foundation for providing the funds to expand our operations, enabling us to create eight green recycling hubs, empowering over 3,000 waste pickers and women, many of whom are living in indigent homes with little or no educational backgrounds.”

Beneficiaries of The Coca-Cola Foundation funding to W.A.S.T.E Africa will include over 1,600 women who will be recruited as waste pickers and sorters in these communities.

For these women, knowledge about waste separation and sorting of recyclable material will provide an economic lifeline especially in this period where millions of Nigerians are losing their jobs because of the COVID-19 pandemic.

The women waste pickers will be provided with financial literacy, safety training and as well as the provision of Personal Protective Equipment (PPE).

BRAND SPUR

Victor Osimhen’s transfer: A potential financial boost for Napoli?

Brand Spur
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0
Victor Osimhen’s transfer: A potential financial boost for Napoli?

Barely one month that SSC Napoli announced the arrival of Nigeria’s international forward, Victor Osimhen, has the club been thought by many football pundits to witness a drastic team and financial improvement. Although the Italian club signed the ace striker at a transfer fee of €70million (N31, 363,237,623.12k) potentially rising to €80 million with add-ons, highest in the history of the club.

 

The said signing has made Osimhen the most expensive African football player, after breaking Nicolas Pepe’s record, when he moved from Lille to Arsenal for €72m last summer.

Napoli, Victor Osimhen
Victor Osimhen

Osimhen who started his career at the Ultimate Strikers Academy, based in Lagos was shortlisted for the 2015 FIFA U-17 world cup that held in Chile where he made his first international debut. After his impressive run in the competition, he was committed to a pre-contract with a German club, Wolfsburg and finally joined the club in 2017 after signing a three-and-a-half-year deal. In 2018, he was loaned to a Belgian side, Charleroi where he scored an impressive 20 goals in 36 appearances.

 

In July 2019, the 21-year-old striker was sold to Lille OSC in France for €14 million (N6,345,111,045) where his impressive performance tipped him to win African Player of the year.

READ ALSO: Q2 2020 Real GDP Shrinks by 6.10% as Oil & Gas, Trade Sectors Contract amid COVID-19 Pandemic

Upon his 5-year transfer deal in Lille, Napoli came for him as a replacement for their embattled striker, Dries Mertens who scored 9 times after 33 match days in the season 2019/2020.

 

This signature followed Nicholas Pepe’s departure at a record fee to Arsenal; he was believed to be a perfect replacement for him because of his shooting prowess and conversion rate on the point of goals. He was able to score 18 goals in 31 games of all competitions for the club.

 

Mathematically, Osimhen is capable of scoring at least 4 goals in five different opportunities with goalkeeper(s). That wooing statistics made Gennaro Gattuso, Napoli head coach hint that he would rather accept a pay cut for his team to sign the young striker to support Arkadiusz Milik in the forthcoming campaign(s).

 

This the club owner, Aurelio De Laurentiis, corroborated saying ? We’d been following Osimhen for some time. Both Giuntoli and Gattuso wanted him, and they convinced me to sacrifice €70m. With bonuses, it will rise to €80m, and if we factor in his wages it will easily reach €100m.”

 

Hence, Osimhen will spearhead Napoli’s attack next season as they look to return to the Champions League having missed out this year. The Neapolitan side finished seventh in Serie A in the 2018/2019 campaign, although they have been guaranteed qualification for the Europa League group stage by winning the Coppa Italia. Their failure to qualify for Champions League will have a huge impact in their revenue in 2020/2021 season

 

Cumulatively, Lille has made over €60 million on Osimhen despite the player staying just 1-year out of his 5-year contract with the club from Charleroi.

 

To realize the transfer fee of Osimhen’s 5-year deal, Napoli would have to make €16m (N7,289,755,091.20) yearly. N490 million weekly, and N70 million daily.

 

According to Statista, from 2015 to 2019, the annual revenue of SSC Napoli increased overall. In 2015, the club registered revenues for “125 million. This figure increased steadily until 2017, reaching €201 million. After decreasing in 2018, the annual revenue of SSC Napoli rose again in 2019, peaking at €207 million. As matter-of-factly, Napoli has spent half of the revenue generated for the just-concluded season to secure Nigeria’s Victor Osimhen.

 

Napoli will not be able to realize Osimhen’s transfer fee in one year even if they sell his jersey at a fee of 3000(highest the club had sold for Diego Maradona) to their about 15 million fans all over the world.

 

With this in mind, the club upon signing the striker has not put up his jersey for sale because of the COVID-19 pandemic. And the fans have not come to watch his unveiling too because of the measures put in place for the spread of the virus.

 

Following Osimhen’s inclusion, the fan base of the team will increase in Nigeria and other countries where Nigerians reside, this will give them more viewership bonuses. And would definitely increase their opportunities for promotion by firms. If Osimhen performs well in their major competitions to make the club battle with other top clubs like Juventus and others, there is a chance for them to make twice their 2019 revenue if they qualify for champions league and get about 90% ticket sales, commercials and sponsorship.

 

BRAND SPUR

Q2 2020 Real GDP Shrinks by 6.10% as Oil & Gas, Trade Sectors Contract amid COVID-19 Pandemic

Esan Bolaji
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Q2 2020 Real GDP Shrinks by 6.10% as Oil & Gas, Trade Sectors Contract amid COVID-19 Pandemic

In line with our expectation, Nigeria’s real Gross Domestic Product (GDP) contracted year-on-year (y-o-y) by 6.10% to N15.90 trillion in Q2 2020, down from a 1.87% growth registered in Q1 2020 – amid the negative impact of COVID-19 pandemic which compelled the government to restrict movements, especially in April 2020.

The non-oil sector shrank y-o-y by 6.05% (and contracted by 4.43% quarter-on-quarter) to N14.48 trillion – this was chiefly due to the 31.77%, 21.99% and 16.59% contraction witnessed in Construction, Real Estate and Trade sectors to N0.51trillion, N0.85 trillion and N2.27 trillion respectively (which jointly accounted for 22.85% of GDP).

Y-o-Y Real GDP Growth Rates

Q2 2020 Real GDP Shrinks by 6.10% as Oil & Gas, Trade Sectors Contract amid COVID-19 Pandemic.
Source: National Bureau of Statistics, Cowry Research
Growth Rates: Year-on-Year

Despite the negative impact of COVID-19 on the local economy, financial services, information & communications and agricultural sectors, which jointly accounted for 46.48% of total GDP, all grew yo-y by 18.49%, 15.09% and 1.58% respectively in Q2 2020. The growths printed by info. & comm. and financial services sectors were due to the heavy reliance on technology by most companies and individuals to carry out their operations.

Q2 2020 Real GDP Shrinks by 6.10% as Oil & Gas, Trade Sectors Contract amid COVID-19 Pandemic.
Source: National Bureau of Statistics, Cowry Research
Growth Rates: Year-on-Year
Q2 2020 Real GDP Shrinks by 6.10% as Oil & Gas, Trade Sectors Contract amid COVID-19 Pandemic.
Source: National Bureau of Statistics, Cowry Research
Growth Rates: Year-on-Year

The oil & gas sector which moderated y-o-y by 6.63%, from a 5.06% growth recorded in Q1 2020, was on the back of a 10.40% q-o-q decline in Nigeria’s crude oil output to 1.81mbpd. Also, Bonny light price tanked q-o-q by 42.32% to USD29.88 per barrel in Q2 2020.

Given the ease in lockdown, which began from the month of May 2020, coupled with the sustained rise in crude oil prices, we expect a slower GDP contraction rate in Q3 2020; hence, the local economy may slide into recession in Q3 2020. However, with the numerous stimulus packages, we expect Nigeria to be out of recession in 2021.

 

HEADLINES YOU MIGHT HAVE MISSED FROM BRAND SPUR

The Nigerian National Oil Organization (NNPC), on Sunday, said it made a sum of $4.60billion from raw petroleum and gas sent out between June 2019 and 2020.

The shape of disruption in the retail space: how it works, how to respond to it, and why it matters

You won’t find too many jokes about ‘digital transformation’. It’s a serious business. And if you ask who is doing it, every corporate will raise their hands – but there’s little agreement around exactly what it is, the implications for the organisation, how to go about it. RMB’s recent retail client webinar, featuring Wits’ Prof Brian Armstrong, provided strong direction.

Nigeria’s GDP Shrinks by 6.10% in Q2 2020 – NBS

Read Also:  Lagos VIS Extends Vehicle Documents Revalidation Services To Weekends

Nigeria’s Gross Domestic Product (GDP) decreased by -6.10% year-on-year) in real terms in the second quarter of 2020, ending the 3-year trend of low but positive real growth rates recorded since the 2016/17 recession.

Market Cap of the World`s Five Largest Automobile Manufacturers Plunged by $63bn in 2020

The COVID-19 pandemic has had a severe impact on the global automotive industry, causing supply chain disruptions and factory closures. All of this placed intense pressure on the market already coping with a downshift in global demand.

Digital Ticketing Sales to Grow 150% by 2022, as Passengers Return to Travel

Hampshire, UK – 24th August 2020: A new study from Juniper Research has found that digital ticketing transaction volumes will exceed pre-COVID levels by 2022; rising from 12.7 billion in 2020 to 32 billion in 2022. It anticipates that continued easing of global travel restrictions will drive increased demand for mobile ticketing in the rail, metro and bus sectors, as commuters return to work.

IITA empowers Ogoni youth on agribusiness for sustainable livelihoods

The Federal Government of Nigeria, through the Ministry of Environment in partnership with IITA, under the Hydrocarbon Pollution Remediation Project (HYPREP), commissioned a cassava processing factory in Korokoro Community, Tai Local Government Area of Rivers State.

Why StarTimes may take over from DSTV, GOTv with ‘Pay-As-You-View’ offer

Esan Bolaji
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Why StarTimes may take over from DSTV, GOTv with ‘Pay-As-You-View’ offer

StarTimes, a Pay-TV provider has reaffirmed subscription affordability through the ‘pay-as-you-go model’ as it adds new contents.

The new contents to be offered by the company include Toonami, Ceebies, ST School Junior, ST School Senior, Human Right, Dunamis, Love Nature, Smithsonian, Colors TV, Sky News, Tiwa ‘n’ Tiwa, Filmbox and more.

Speaking during a virtual conference meeting, Marketing Manager of StarTimes, Viki Liu, who was represented by the Public Relations Manager, Mr Lazarus Ibeabuchi said that subscribers can still adopt the pay-as-you-view model with the introduction of the Nova bouquet for N900.

StarTimes, Pay-As-You-View

Meanwhile, Nigerians are really interested and maybe keying into the new amazing feature by StarTimes because it meets their long time yearnings of the ‘pay-as-you-view’ offer with many complaining it to be because of the epileptic power supply in the country.

Recall that about 3 months ago, the House of Representatives, began an investigation of cable and satellite television service providers in Nigeria over their high tariffs and monopolised bouquets, invited the company to answer questions over the much-talked-about ‘pay as you earn’.

Though it is an industry probe, the House specifically probed  Digital Satellite Television, a South Africa-based provider owned by MultiChoice, for allegedly cheating its Nigerian subscribers by restricting them to prepaid plans.

Chairman of the committee, Unyime Idem, at an investigative hearing held in Abuja on Thursday, said that the National Broadcasting Commission (NBC) summoned them to explain why DSTV and other service providers refused to introduce pay-per-view.

Meanwhile, MultiChoice has explained that there are some misunderstandings about what ‘Pay per View’ means.

Startimes’ spokesperson, Caroline Oghuma, said that not a service that enabled one to match consumption to subscription as was the case with a meter or mobile phone.

She said, “It is a type of pay television service by which a subscriber of a television service provider can purchase events to view via private broadcast. It usually applies to a one-off broadcast of high stakes games such as football, boxing and even wrestling matches.

“Pay per View service can be purchased via a cable or satellite TV provider as a non-refundable separate package in addition to a pre-existing subscription. An example of pay per view in action was the Mayweather vs. McGregor fight, aptly dubbed ‘The Money Fight’. In this case, subscribers had to each pay up to $100 for the bout in the US, and watch or not, the subscription ended with the 10 round fight.”

However, despite MultiChoice claim on why it may never work, Nigerians have faulted to adopt their rival, StarTimes’ stance if they still want them to keep their decoders intact without considering other options available.

According to Babawale Omar (Not real name), a DSTV agent in Ibadan, the choice of MultiChoice on the need to still maintain the existing bouquets may bounce back on them as the lockdown has exposed Nigerians to many opportunities and options.

“Why on earth will you expect me to pay for what I didn’t use? it’s pure thievery without gainsaying. There are many times my customers complain of not having electricity in their areas and end up losing the subscriptions for the month they are most affected,” he said.

A frequent subscriber of DStv, Fatai Ajeigbe who uses it to set up a football viewing centre narrates his ordeal, he said it would be really great to have the ‘pay-as-you-view’ offer.

“There are most times that we count our loses just because we don’t lose customers, we lose a lot during the pre-season when we often have just a few of our customers coming to watch football, it is always frustrating, we just have to subscribe to keep our major viewers intact.

“I can’t recall many times that I have to just use my personal money to complete the fee for the following month subscription because there are just a few matches, and viewers might not turn up especially when the big teams are not in a fierce, he lamented.

“Even when the season begins, we scarcely show football in the midweek except when there’s Champions and Europa Leagues? matches to complete the weekend shows, so it is more like saying that we are only available to our customers on weekends. It will b better to just bring it to our viewers when they need it rather than paying for a bouquet that we may not enjoy,” Fatai corroborated.

“Sincerely, I won’t think twice to get StarTimes if they are showing English Premier League and few major ones, it will pay to subscribe to their daily plan rather than the decapitating monthly one from DStv.” He retorted.

Like Fatai and the aforementioned person, Mrs Arowolo, a single mother explained that her favourite channel is African Magic Yoruba, except for her children who sometimes watch NatGeo wild, and cartoon network.

According to her, the best time she enjoyed her package was during the lockdown because she had to work from home, while her children watch Cartoon Network when she’s busy, she changes to African Magic Yoruba and directs her children to go read their books and attend their virtual classes.

While reacting to the ‘Pay-As-You-View’ offer, a business expert, Mr Arogundade said that MultiChoice is just creating her unhealthy competition for itself, and may lose a great many customers if they are pleased with varying contents ( Toonami, Ceebies, ST School Junior, ST School Senior, Human Right, Dunamis, Love Nature, Smithsonian, Colors TV, Sky News, Filmbox) that StarTimes is coming up with and if they can buy rights in Football Leagues, that’s what HITv did in 2013/14. They made DSTv lose many customers until it couldn’t manage the pace, if it had sustained it, Dstv maybe nowhere to be found today.

“Nigerians like cheap things with pleasurable offers, if StarTimes will offer them that, believe me, Nigerians will key into their products,” he added.

“It’s a choice of who’s giving us service at a cheaper rate.”

BRAND SPUR

COVID-19 stimulus package: FG set to spend another N128bn or more

Brand Spur
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1
COVID-19 stimulus package: FG set to spend another N128bn or more

News Agency of Nigeria reported that about 2.4 million households, who are small scale farmers with farmlands ranging from one to five hectares across the 36 states of Nigeria and the FCT, will get the Federal Government COVID-19 stimulus package.

This claim was made by Dr Andrew Kwasari, Senior Special Assistant (SSA), to the President on Agriculture to mitigate the effects of COVID-19 pandemic on Nigerians and the economy.

According to Kwasari, the COVID-19 stimulus package will be provided through the Agric for Food and Jobs Plan (AFJP), under the Agricultural Sector of the Nigerian Economic Sustainability Plan (NESP). He added, “The Economic Sustainability Committee needed to be very strategic in utilising the minimal resources, overall, not only for the agriculture sector.

“So, for the agric sector, we decided that we would use this strategy to utilise available cash to work with financial institutions, led by the Central Bank of Nigeria (CBN), to see how we can get stimulus packages to about a minimum of 2.4 million households or to fund 2.4 million hectares of land that will be cultivated during this  2020 wet and dry season farming.”

To say the least that if 2,400,000 households are to get N5,000 each. Mathematically, Government will be spending nothing less than N128 billion on the just-announced scheme. With no modus operandi of disbursement, the Federal Government are expecting returns from the agrarian households that it invests upon.

The Nigerian National Oil Organization (NNPC), on Sunday, said it made a sum of $4.60billion from raw petroleum and gas sent out between June 2019 and 2020.

The shape of disruption in the retail space: how it works, how to respond to it, and why it matters

You won’t find too many jokes about ‘digital transformation’. It’s a serious business. And if you ask who is doing it, every corporate will raise their hands – but there’s little agreement around exactly what it is, the implications for the organisation, how to go about it. RMB’s recent retail client webinar, featuring Wits’ Prof Brian Armstrong, provided strong direction.

Nigeria’s GDP Shrinks by 6.10% in Q2 2020 – NBS

Nigeria’s Gross Domestic Product (GDP) decreased by -6.10% year-on-year) in real terms in the second quarter of 2020, ending the 3-year trend of low but positive real growth rates recorded since the 2016/17 recession.

Market Cap of the World`s Five Largest Automobile Manufacturers Plunged by $63bn in 2020

The COVID-19 pandemic has had a severe impact on the global automotive industry, causing supply chain disruptions and factory closures. All of this placed intense pressure on the market already coping with a downshift in global demand.

Digital Ticketing Sales to Grow 150% by 2022, as Passengers Return to Travel

Hampshire, UK – 24th August 2020: A new study from Juniper Research has found that digital ticketing transaction volumes will exceed pre-COVID levels by 2022; rising from 12.7 billion in 2020 to 32 billion in 2022. It anticipates that continued easing of global travel restrictions will drive increased demand for mobile ticketing in the rail, metro and bus sectors, as commuters return to work.

IITA empowers Ogoni youth on agribusiness for sustainable livelihoods

The Federal Government of Nigeria, through the Ministry of Environment in partnership with IITA, under the Hydrocarbon Pollution Remediation Project (HYPREP), commissioned a cassava processing factory in Korokoro Community, Tai Local Government Area of Rivers State.

Aruba Research: Network as A Service Adoption to Accelerate by 38% Within the Next Two Years as Businesses Adapt to COVID-19

74% of organizations reported moderate to significant impact to their employees due to the pandemic

VAT escalates, Company Income Tax decreases as FG allocates N676bn for July

The Federation Accounts Allocation Committee (FAAC) was, on Wednesday, reported to have shared N676.407 billion as federation allocation for the month of July 2020.

VAT escalates, Company Income Tax decreases as FG allocates N676bn for July

Brand Spur
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0
VAT escalates, Company Income Tax decreases as FG allocates N676bn for July

The Federation Accounts Allocation Committee (FAAC) was, on Wednesday, reported to have shared N676.407 billion as federation allocation for the month of July 2020.

A statement from the Federal Ministry of Finance, Budget and National Planning explained that the amount included VAT.

The Federal Government received N273.189 billion, the States received N190.849 billion, the Local Government councils got N142.761billion, while the oil-producing states received N42.851 billion as derivation (13% of Mineral Revenue) and Cost of Collection/Transfer and Refund got N26.757 billion.

The communique issued at the end of the virtual meeting, gross revenue available from the Value Added Tax (VAT) for July 2020 was N132.619 billion against N128.619 billion distributed in the preceding month of June 2020, resulting in an increase of N3.793 billion.

The distribution is as follows; Federal Government got N18.500 billion, the States received N61.668 billion, Local Government Councils got N43.168 billion, while Cost of Collection/Transfer and Refund got N9.283 billion.

The distributed Statutory Revenue of N543.788 billion received for the month was higher than the N524.526 billion received for the previous month by N19.262 billion, which the Federal government received N254.688 billion, States got N129.181 billion, LGCs got N99.593 billion, Derivation (13% Mineral Revenue) got N42.851 billion and Cost of Collection/ Transfer and Refund got N17.474 billion.

The communique also revealed that Oil and Gas Royalty, Petroleum Profit Tax (PPT), and Value Added Tax (VAT) increased considerably, while Companies Income Tax (CIT), Import and Excise Duty recorded decreases.

The increase could be as a result of policy stipulated by the federal government that commercial properties pay the increased 7.5% tax on all rents since the policy took a full-fledge in July.

HEADLINES YOU MIGHT HAVE MISSED FROM BRAND SPUR

NNPC generates $4.60bn revenue from 19.104bn litres of crude oil, gas export in one year

The Nigerian National Oil Organization (NNPC), on Sunday, said it made a sum of $4.60billion from raw petroleum and gas sent out between June 2019 and 2020.

The shape of disruption in the retail space: how it works, how to respond to it, and why it matters

You won’t find too many jokes about ‘digital transformation’. It’s a serious business. And if you ask who is doing it, every corporate will raise their hands – but there’s little agreement around exactly what it is, the implications for the organisation, how to go about it. RMB’s recent retail client webinar, featuring Wits’ Prof Brian Armstrong, provided strong direction.

Nigeria’s GDP Shrinks by 6.10% in Q2 2020 – NBS

Nigeria’s Gross Domestic Product (GDP) decreased by -6.10% year-on-year) in real terms in the second quarter of 2020, ending the 3-year trend of low but positive real growth rates recorded since the 2016/17 recession.

Market Cap of the World`s Five Largest Automobile Manufacturers Plunged by $63bn in 2020

The COVID-19 pandemic has had a severe impact on the global automotive industry, causing supply chain disruptions and factory closures. All of this placed intense pressure on the market already coping with a downshift in global demand.

Digital Ticketing Sales to Grow 150% by 2022, as Passengers Return to Travel

Hampshire, UK – 24th August 2020: A new study from Juniper Research has found that digital ticketing transaction volumes will exceed pre-COVID levels by 2022; rising from 12.7 billion in 2020 to 32 billion in 2022. It anticipates that continued easing of global travel restrictions will drive increased demand for mobile ticketing in the rail, metro and bus sectors, as commuters return to work.

IITA empowers Ogoni youth on agribusiness for sustainable livelihoods

The Federal Government of Nigeria, through the Ministry of Environment in partnership with IITA, under the Hydrocarbon Pollution Remediation Project (HYPREP), commissioned a cassava processing factory in Korokoro Community, Tai Local Government Area of Rivers State.

Aruba Research: Network as A Service Adoption to Accelerate by 38% Within the Next Two Years as Businesses Adapt to COVID-19

74% of organizations reported moderate to significant impact to their employees due to the pandemic

Insider Dealing: Heineken Brouwerijen B.V acquires additional 6,894,409 units of Nigerian Breweries shares

Esan Bolaji
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Insider Dealing: Heineken Brouwerijen B.V acquires additional 6,894,409 units of Nigerian Breweries shares

Heineken Brouwerijen B.V has increased its stake in Nigerian Breweries Plc.

Heineken Brouwerijen B.V (one of its major shareholders), acquired the new additional stake in shares of Nigeria Breweries Plc, according to its most recent filing signed by Uaboi G. Agbebaku, Company Secretary, with the Nigerian Stock Exchange (NSE).

The Dutch brewer acquired 6,894,409 shares of the brewer’s stock, valued at approximately ₦ 245,923,569.03 (at N35.67 per unit (average).

The company acquired the shares in three different transactions from 19th – 21st August 2020 as shown below:
  1. 55,000 shares at N35.13 per unit
  2. 66,887 shares at N35.89 per unit
  3. 6,772,522 shares at N35.95 per unit

Prior to the latest acquisitions, Heineken’s holdings were held by Heineken Brouwerijen B.V., 37.76 per cent; Distilled Trading International BV, 15.47 per cent and Heineken International B.V., which held 2.72 per cent.

Insider Dealing: Heineken Brouwerijen B.V acquires additional 6,894,409 units of Nigerian Breweries shares

Every additional share increases Heineken’s control on the Nigerian subsidiary. The single largest domestic stake in the widely dispersed Nigerian Breweries’ shareholding is 0.44 per cent held by Odutola Holdings Limited.

Nigerian Breweries’ turnover dropped by N18 billion to N152 billion in the first half of 2020 as Nigeria’s largest brewer continued to struggle with macroeconomic headwinds, which were exacerbated by the COVID-19 pandemic.

Key extracts of the interim report and accounts of Nigerian Breweries for the six-month period ended June 30, 2020, showed that turnover declined to N152 billion in first-half 2020 as against N170 billion recorded in the comparable period of 2019. Net profit closed first half 22020 at N5.7 billion.

Siemens Gamesa donates vital supplies to support African communities 

Brand Spur
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Siemens Gamesa donates vital supplies to support African communities 

More than 100,000 beneficiaries in Africa heavily impacted by the crisis across Egypt, Morocco, Jordan, South Africa and Kenya have benefitted from Siemens Gamesa’s medical, food and sanitary product donations.

Food and hygiene products’ donation in Jordan

Siemens Gamesa has put in place several social responsibility programs to fight the consequences of the COVID-19 crisis; A sum of €350,000 was dedicated to African countries severely impacted by COVID-19; The initiatives included mainly food and sanitary product donations benefitting more than 100 000 individuals in Morocco, Egypt, South Africa, Kenya and Jordan.

Medical equipment donation to a hospital in Ras Ghareb in Egypt

Siemens Gamesa Renewable Energy (SGRE) has launched a series of social impact projects to contribute to the fight against COVID-19 around the world, including a series of initiatives to help African nations impacted by the crisis.

Wind farm in the Western Cape, South Africa

Siemens Gamesa global campaign covered donations of €1 million worth of healthcare supplies and other relief to hospitals and communities with an allocated sum of €350,000 dedicated to African countries severely impacted by COVID-19. These donations are in addition to the company’s pledge to match staff donations up to €1 million for the International Federation of Red Cross (IFRC) ‘COVID 19 Emergency Appeal’ campaign.

Rapid response for Midelt’s rural communities in Morocco

African governments and health authorities are striving to slow down the spread of COVID-19 that is sending shock waves through their health systems, economies, and societies. Many of Africa’s healthcare and social systems are not prepared to handle the crisis, and extreme poverty affects 34% of the continent’s population, which could lead to even worse effects. Difficulties will increase for those working in the informal sector, which makes up 80% of Africa’s employed population.

The aid that Siemens Gamesa provided across many African nations benefitted more than 100.000 individuals in Egypt, Morocco, South Africa, Kenya, and Jordan through donations of food, sanitary product donations and warm clothing.

The specific donation campaigns included:

In Egypt, Siemens Gamesa is taking long-term actions such as providing medical equipment to Ras Ghareb Hospital that will not only benefit COVID-19 patients, but also provide the hospital with a set of permanent resources after the pandemic.

Through the company’s SGRE Impact social commitment initiative which focused this year on alleviating the effects of COVID-19, food bags and sanitary products have been distributed alongside tree planting campaigns benefiting vulnerable rural households in Morocco, South Africa and Jordan. Another project targeted Kenya’s Kakuma refugee camp and aimed to provide equal access to medical care and sanitary products, training courses on health and nutrition as well as water and community toilets for the 45 500 refugees.

In Tangier, where the first blade factory in Africa and Middle East is located, the company has provided €100,000 worth of temporary shelter benefitting local authorities in the region. The team has also organized a food and sanitary donation for 1000 families lasting a month and a blood donation campaign where 35% of the workforce participated in.

“We feel it is our responsibility to contribute where we can and help mitigate the effects of this crisis as much as possible. The team at Siemens Gamesa is very proud to work at a company that places value on community,” said Sonia Adnane, Head of Communications and Public Affairs Africa. “We hope these acts of social commitment will lay the foundation for a greater spirit of community to support long-term sustainable development across the continent.”

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