Opportunity to earn on matches of Liverpool after the 1xBet login

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Opportunity to earn on matches of Liverpool after the 1xBet login

Among the teams participating in the best European championships, Liverpool stands out for its excellent results, due to the comfortable gap from the competition and a great performance. You can earn a decent amount by betting on the success of the club after you completed both the registration and 1xBet login procedures; after this, you will enjoy excellent coefficients and various advantageous offers.

The start of the season was wonderful for the Merseysiders. This is due not only to Jurgen Klopp but also to the players themselves, who wish to add the gold medals of the Premier League to the victory in the Champions League. By the way, last season the club also played brilliantly but lost to Manchester City in the race for the champion’s title. Now, this is hard to believe, and the team is fully focused on the cherished trophy.

As before, the leaders of Liverpool are:

  1. Sadio Mane – he improved his already excellent form and stands out with his perfect attacking conditions.
  2. Mohammed Salah – the Egyptian started the season poorly, but he is gaining momentum and makes the team’s attack one of the best in the world.
  3. Virgil van Dijk – only 7 votes separated the Dutchman from the Golden Ball, which marks a serious level of the game.

You can bet on the team and the achievements of its players after you complete the 1xBet login to the reliable platform, where everyone is given excellent opportunities to earn more. We’d recommend you to pay attention to goalkeeper Alison Becker, who is one of the best in this area.

Of course, one should not underestimate the influence of Jurgen Klopp, as the German was the second in the history of the Premier League to have achieved 100 victories as a coach in just 159 matches; only Jose Mourinho, who tops the ranking, needed fewer games to achieve the same result.

Liverpool matches: statistics and bets in the 1xBet app

The winning streak of the Merseysiders continues, but it allows us to watch all the matches of the team with great interest. To make extra money on this, you can download the 1xBet app and enjoy all the available offers of reliable bookmaker.

Now, Liverpool is literally crashing everyone along the way, leaving the chances of a draw on rare occasions. This is the achievement of the whole team that played and earned important points in each match. In addition to the leaders, it is worth highlighting Trent Alexander-Arnold, Andrew Robertson, Georgigno Weinaldum, and Jordan Henderson. Also under the leadership of Jürgen Klopp, the conditions of Divok Origi, Roberto Firmino and Alex Oxlade-Chamberlain improved greatly; you can bet on their statistical achievements in the 1xBet app.

Many of Liverpool’s matches are yet to come, so you can enjoy the performance of your favourite team and wish them that their winning series continues as long as possible.

2019 In Retrospect: Nigerians Decry Challenges in Health Sector, Electricity Supply, Job Creation and Economy

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2019 In Retrospect: Nigerians Decry Challenges in Health Sector, Electricity Supply, Job Creation and Economy

Abuja, Nigeria. December 24th, 2019 – As 2019 comes to an end, people look forward to celebrating in various ways so as to relax and kick start 2020. In the course of this season, various items are being purchased, travel tickets are booked, parties are organized whilst family and friends gather to celebrate and wish themselves a more prosperous 2020 ahead. It is also a time of reflection especially on goals achieved and lessons learnt for individuals and the nation as a whole. For instance, it is pertinent to evaluate the performance of the government as it relates to key socio-economic areas, such as security, agriculture, education and electricity, to discuss the challenges of the government in these areas and also deliberate on areas of improvement for all stakeholders. Against this background, NOIPolls conducted this poll to gauge the perceptions of Nigerians on how well the country has fared in 2019 particularly on some key socio-economic areas.

The poll result revealed that Nigerians believe that the country has not fared well in the following areas; the Health sector (79 percent), Electricity supply (66 percent), Job creation (65 percent) and the Economy (64 percent). With regards to healthcare, access to quality and affordable health care remains an issue to Nigerians due to challenges like; inadequate capital spending, poor pay, outdated technologies, poor infrastructure, sharp disparities in the availability of medical facilities across the country, high mortality rates, a weakened primary health care system, incessant strikes by doctors and health workers. Stakeholders in the health sector have repeatedly decried declining budgetary allocation to the health sector, for instance, capital expenditure of N46 billion has been allocated to the Ministry of Health in the 2020 budget which is lower than the 51.1 billion allocated in the 2019 budget. According to the 2018 World Health Organization Health Access Quality (HAQ) Index, Nigeria is rated 187th out of 195 countries, therefore it is urgent that adequate capital funding is allocated to the sector to boost healthcare delivery in the country.

On electricity supply, 66 percent stated that the sector has not fared well in 2019 and power failure has a very debilitating effect on the economic growth given that electricity supply is fundamental to productivity. Also, adequate and efficient utilization of energy sources to meet the existing demand is essential for high levels of economic growth in Nigeria. Similarly, 65 percent of adult Nigerians reported that Nigeria has not fared well with regards to Job creation. According to the National Bureau of Statistics (NBS) report, the unemployment rate in Nigeria increased to 23.10 percent in the third quarter of 2018 from 22.70 percent in the second quarter of 2018. Unemployment. An increasing unemployment rate in Nigeria could have adverse effects on both the economy and society. For instance, reduction in the national output of goods and services increased rural-urban migration, high level of poverty, an increase in the number of dependent people and the high rate of crimes in Nigeria.

On the economy, the National Bureau of Statistics (NBS) reported that the nation’s Gross Domestic Product (GDP) grew from 2.12 percent in the second quarter of 2019 to 2.29 percent in the third quarter of 2019 indicating an increase of 0.17 percent. Despite this increase in the nation’s GDP, the average Nigerian is yet to feel the impact of this increase in the GDP. According to the Director-General, Budget Office of the Federation, Mr Ben Akabueze, for Nigerians to effectively feel the impact of economic growth, the rate of Gross Domestic Product growth must be higher than the population growth.

Survey Findings

Respondent’s opinions were assessed on how Nigeria has fared in 2018 in seven specific areas. The poll revealed that 79 percent of Nigerians disclosed that healthcare delivery has not fared well in 2019, while 66 percent lamented over epileptic power supply in 2019. Also, 65 percent of Nigerians complained about lack of job in the country and this could be as a result of the high rate of unemployment and under-employment in the country as well as the thousands of Nigerians who join the labour market on a monthly basis. On the economy, 64 percent of the respondents stated that the nation has not fared well in this area in 2019 despite the marginal increase recorded in the county’s GDP in quarter 3, 2019 as reported by the National Bureau of Statistics.

On the contrary, 68 percent of Nigerians reported that the country has fared well in the area of Agriculture while 58% reported that the country has fared well in the Education sector.

In conclusion, the poll has revealed that a larger proportion of Nigerians consider healthcare, electricity supply, job creation and the economy as the critical areas that have not fared well in 2019 and consider Agriculture, Education and Security as areas where the government has fared well. The synergy between government and concerned stakeholders will go a long way in ensuring that these critical challenges are addressed in 2020. For instance, fixing these sectors pointed out by Nigerians will attract more foreign direct investments, create millions of jobs, help to create new markets, foster competition, spur innovation, lower prices, raise productivity and in turn leads to increase in living standards.

The opinion poll was conducted in the week of December 16th 2019. It involved telephone interviews of a random nationwide sample. 1,000 randomly selected phone-owning Nigerians aged 18 years and above, representing the six geopolitical zones in the country, were interviewed. With a sample of this size, we can say with 95% confidence that the results obtained are statistically precise – within a range of plus or minus 4.65%. NOIPolls Limited is the No1 for country-specific polling services in West Africa. We conduct periodic opinion polls and studies on various socio-economic and political issues in Nigeria. More information is available at www.noi-polls.com

9MOBILE LAUNCHES CUSTOMER CARE ON RCS, TRANSFORMING HOW USERS COMMUNICATE WITH 9MOBILE

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9MOBILE LAUNCHES CUSTOMER CARE ON RCS, TRANSFORMING HOW USERS COMMUNICATE WITH 9MOBILE

The RCS Agent for customer care, built by Kirusa, is the first such bot launched anywhere in Africa, enabling 9mobile subscribers in Nigeria to get customer support via RCS

Lagos, Nigeria and AfricaCom, Cape Town, South Africa, November 15, 2019: 9mobile, a leading telecom operator in Nigeria, today announced the launch of the first customer care service over RCS (Rich Communication Services) in Africa. RCS is the evolution of SMS, offering interactive and engaging capabilities for Android users. With this launch, 9mobile subscribers will experience an innovative and personalised customer care service that will provide support and deliver important notifications on RCS. For example, subscribers can check airtime balance, data balance and details of previous transactions through the RCS bot, which will share instant responses for the queries asked.

Touted as the next-generation native messaging evolution, RCS is an update to SMS, offering features for enhanced smartphone messaging such as high-resolution photo and video sharing, location sharing, group chats, read receipts, etc., all of which were not available on SMS. 9mobile is the first operator in Nigeria to launch RCS, and the first operator in Africa to provide customer care using an RCS bot. This launch not only transforms the user experience for enhanced customer care support; but also exemplifies how different 9mobile services can offer improved user experiences in the future using RCS. Consumers are looking for efficient, convenient, prompt and helpful customer care service for the resolution of their queries and issues, and RCS is a perfect channel to deliver the same. The rich media, buttons and suggested response capabilities of RCS Business Messaging enables 9mobile to provide an interactive conversational user interface, with quick and immediate responses for common queries or issues faced by subscribers, all from within the standard built-in messaging app already on the phone of the subscribers. Also, unlike live customer support centres operating within limited time schedules, customer care over RCS is available 24×7.

Bola Afuye, Head, Digital Media, 9mobile said, “We launched RCS last month, and it is only natural that we move our own services, including customer care, to utilize the power of this new messaging channel.  Kirusa has been a very supportive and competent partner to help us deliver on our RCS vision.”

Akinwale Goodluck, Head of Sub-Saharan Africa at the GSMA said, “Mobile operators around the world are offering RCS messaging services based on open industry specifications. We are committed to fostering rich partnerships for the delivery of digital services for consumers and businesses. We encourage the realization of these partnerships across the region, connecting everything and everyone to a better future.”

“We are delighted to have had the opportunity to help 9mobile to create the first RCS bot for customer care in Africa. Providing customer care service through RCS empowers 9mobile to innovate and lead the way for introducing the latest technologies for improving user’s experience and overall satisfaction with 9mobile,” said Inderpal Singh Mumick, Founder, Chairman and CEO of Kirusa.

The customer care bot, named my9mobile, is built by Kirusa, a global leader in messaging and voice solutions over data networks, using its Kirusa Konnect™ platform. 9mobile expects to continually add new features and further enhance the my9mobile bot, as well as provide highly personalised conversations using Artificial Intelligence and Machine Learning. Along with these benefits, it will also help reduce the overall costs for 9mobile by significantly bringing down labour, IT and operational costs. 

Huarong and NWS Holdings’ Investee Sued

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Huarong and NWS Holdings’ Investee Sued

KUALA LUMPUR, MALAYSIA – Media OutReach – 23 December 2019 – The minority shareholders of Malaysian fintech company, Tranglo Sdn Bhd (Tranglo) have filed an oppression suit against TNG Fintech Group Inc (TNG Fintech), which acquired its 60 per cent equity in Tranglo from government-link, private equity fund management company, Ekuinas in October 2018.

 

Defendants also named in the suit are Alexander Kong King Ong (also known as Alex Kong), Wong Wing Chi (also known as Takis Wong), co-founder of Tranglo Sia Hui Yong and Tranglo Sdn Bhd. Both Kong and Wong sit in the board of Tranglo as TNG Fintech’s representatives after the acquisition.

 

The suit came about after a series of events that materially impeded business operations, including TNG Fintech’s rejection of Tranglo’s approved financing plan and unreasonable delay in signing up new bank partners.

 

TNG Fintech also attempted to install Alex Kong’s sister as a required signatory of all bank accounts maintained by Tranglo. In addition, Kong and Wong rejected a dividend payout to shareholders despite the company’s healthy performance.

 

Six repeated requests by minority shareholders for a shareholder agreement to be signed were refused by TNG Fintech represented by Kong and Wong. TNG Fintech is registered in the British Virgin Islands, based in Hong Kong and controlled by Alex Kong.

 

Kong’s previous business ventures, Next Millennium Sdn Bhd and Asia Travelmart Sdn Bhd, were wound up by the government of Malaysia and Technology Park Malaysia Sdn Bhd for non-payment of taxes and rental respectively.

 

Kong also had a track record of two personal bankruptcies, one in Malaysia and another in Hong Kong.

 

Whilst TNG Fintech had issued a statement on 11 September 2017 on its completion of a USD115 million Series A funding, Kong admitted in an email on 8 April 2019 to the Central Bank of Malaysia (Bank Negara Malaysia) that this funding never materialized.

 

The suit was brought about by Impiro Asia Ltd and Mohammad Hassan Rasheed Gharaybeh, who collectively hold 13.6 per cent equity in Tranglo. During the acquisition process, TNG Fintech via Kong, had given commitment and assurances to Bank Negara Malaysia that it will acquire the minority stake by 1 February 2019.

 

Simon Landsheer, Director at Impiro Asia Ltd said, “Banks in Malaysia have flagged and queried why we have a director (Alex Kong) with bankruptcy history. And now, the situation at Tranglo has worsened to the extent that the management and staff time are tied up responding to requests from Kong under the claim of executing his fiduciary duty on Tranglo. Requests such as for information to be supplied and in specific format in a short turnaround time do not contribute to productive operations and as such, Tranglo might miss its USD3 billion processing value target by 2020.”

 

“In addition to impeding business operations, the negotiations to acquire our minority stake were also not conducted in good faith. All five proposals received require the minority shareholder to relinquish board representation the moment the Share Sales Agreement is signed. The proposed payment structures were dependent on TNG Fintech’s initial public offering in the United States, of which has not happened as claimed by Alex Kong. Based on Kong’s actions, attempts to remove and treatment of directors representing minority interest and his history, we have no confidence in TNG Fintech’s proposed initial public offering and the true value of the shares to be swapped,” stated Landsheer.

 

The minority shareholders are seeking for dividends to be paid and Tranglo to be wound up due to the untenable working relationship with TNG Fintech.

 

The issuer is solely responsible for the content of this announcement

Singapore boutique marketing agency, Jack And Chaz signs its first franchise in Vietnam

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Singapore boutique marketing agency, Jack And Chaz signs its first franchise in Vietnam

SINGAPORE – Media OutReach – 24
December 2019 – Singapore based marketing agency, Jack And Chaz Pte Ltd, has
just signed its first master franchisee in Vietnam on 23rd December 2019. With
more than five years in the local marketing scene, Jack And Chaz has helped
several small, medium enterprises (SMEs) achieve brand
awareness and optimal sales growth via its unique
marketing strategies.

“Our
company’s forte is to grow SMEs to their optimum potential. We believe that by
having the right marketing strategy, a business can achieve greater heights. We
want to help more SMEs around the world so that is why we are now venturing outside of Singapore.”


– Jack And Chaz, Chief Executive
Officer, Jacky Tan.


In August, Jacky Tan attended an event
at Google Singapore, where Singapore’s Trade and Industry Minister, Mr Chan
Chun Sing was the guest speaker at the event. During his speech, Mr Chan
observed that SMEs are not Small Medium Enterprises
but rather, they are Singapore MNCs Emerging. Another speaker at the event also
noted the potential of the Southeast Asian market. Since then, Jacky was
inspired to set his business goals beyond our shores.

The challenges for many self-funded
small-sized companies like Jack And Chaz are plenty. Other than limited funds,
most financial institutions or enterprise supporting bodies may not want to risk
helping such small companies to expand worldwide.
The idea for smaller companies to have franchises overseas can be seen as an
uphill task. Therefore, most of the time, it is up to the small business owners
themselves to control their destiny.

Fortunately,
Jack And Chaz managed to seek help from Emerhub Vietnam which helped foreign
businesses set up companies legally in Vietnam. A trip to Vietnam in late
August 2019 also motivated Jacky to set his eyes on the country. He attended
a Startup event in Ho Chi Minh city and was encouraged to see many young
budding entrepreneurs in the country. Since then, he decided to seek a potential
franchisee in Vietnam.

“Vietnam is a beautiful country
with lots of friendly people and a rich heritage. It also has a growing and
vibrant economy. It is a rising star in the ASEAN market. Hence, investors and
business owners should look at it as a potential opportunity.”

– Jack And Chaz, Chief Executive
Officer, Jacky Tan.


During
that same period, Jack And Chaz had also engaged a Vietnamese freelancer to
manage one of its projects. Her name was Ms Ngan Nguyen. After working with
Jacky for a few months, Ms Nguyen saw the potential of Jacky’s business and how
it is different from many conventional marketing agencies. One day, while discussing
the prospects of doing business in the vibrant Vietnam economy, the idea of a
Jack And Chaz brand in Vietnam began to take shape.

It
was then followed up by concrete plans as well as more discussions on how to
get a Jack And Chaz franchise started in Vietnam legally. Ms Nguyen also
invited her friend, Ms Nhan Le, to manage the franchise. They will be operating
under the name, JACK & CHAZ MARKETING
MTV LIMITED COMPANY, in Vietnam. 


“I remember when I first spoke to
Jacky Tan, CEO of Jack And Chaz Pte Ltd from Singapore, he did not mind to
share his experience while many others are trying to hide their successful
technique. It is impressive! His extensive marketing knowledge has helped various companies
increase sales revenue and improve their brand credibility within the last five
years. I found his marketing strategy is interesting, useful and realistic. Vietnam has a young and dynamic market
which is representing a substantial commercial opportunity. Digital
technologies change and grow drastically, which are adopted quickly by a
massive amount of online end users. However, there are still many startup
entrepreneurs struggling to figure out the most efficient way to transit their
business from offline to online. Besides, we have also seen many local SMEs
looking for ways to increase their revenue, their customer loyalty or to move
up to the next level of business stardom.


Understand the hassle and to fulfil the
high demands of marketing services, I have decided to join Jacky’s team.


We want to take this opportunity to
introduce Jack And Chaz unique marketing strategy to the Vietnam market and
help companies grow intensely in all aspects. Big thanks to Nhan Le for being
our local Vietnam representative.”


– JACK & CHAZ MARKETING MTV LIMITED
COMPANY, Ms Ngan Nguyen. 


Jack
And Chaz engaged Emerhub’s services to assist in establishing the Vietnam
franchise.

“Emerhub is very happy to have helped Jack
And Chaz Pte Ltd enter Vietnam. It is our mission to lower the entry barriers
for foreign investors and help businesses enter South-East Asia. Vietnam
welcomes foreign investment, and there are many options for foreign investors
to do business in Vietnam and franchising is a good option to enter the market
for anyone in the similar position to JACK & CHAZ MARKETING MTV LIMITED
COMPANY (Ms Nhan Le and Ms Ngan Nguyen).


– Emerhub Vietnam, Country Manager,
Kadri Lahi“

Singapore
SMEs should look beyond Singapore market. Jacky strongly believes that there
are several businesses which have the potential to become famous brands
regionally or globally, with a franchising strategy. It is just that they are
not informed
or aware of their potential yet.

“Do not wait for someone to open
the door of opportunity for you. Do it yourself. Make plans and take action to
expand your business now.” 


– Jack And Chaz, Chief Executive
Officer, Jacky Tan.

Get Supercharged this Year of the Rat with SK Jewellery Pokémon Collection

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Get Supercharged this Year of the Rat with SK Jewellery Pokémon Collection

SK Jewellery introduces a twist on the age-old tradition of ‘cash’ red packet exchange with everyone’s all-time favourite Pokémon characters, in Pure Gold Ang Pow.

 

  • An
    auspicious and delightful alternative to cash Ang Pow, bringing joy and all
    things rosy to recipients
  • Preserving
    the traditional act of giving and receiving red packets in an unorthodox yet meaningful
    form — 999 Pure Gold Pokémon Ang Pow

SINGAPORE
– Media OutReach – 24
December 2019 – SK Jewellery is thrilled to be
collaborating with Pokémon to develop and launch the first comprehensive
assortment of fine jewellery and gold collectibles in Singapore. Celebrating
the importance of family, love, happiness and the auspicious spirit of giving,
the collection delights fans with Pikachu and friends in Chinese New Year
themes and styles.

This isn’t the pioneering
concept for SK Jewellery. Since 2017, the brand has been collaborating with
various licenced intellectual properties. Here’s a quick glance of SK
Jewellery’s pioneering the market with creative licenced Ang Pow collection:

2017,
Year of the Rooster – Starring Minnie and the playful, stackable friends of Tsum
Tsum

2018,
Year of the Dog – Featuring Snoopy and the classic, well-loved Peanuts
Collection

2019,
Year of the Pig – The fun-loving, wacky Looney Tunes collection with Porky Pig
playing the center stage

The Year of the Rat isn’t going to be an exception, except that in 2020, SK
Jewellery is teaming up with one of the most-hyped franchises of all-time, Pokémon. And what better way to usher
the New Year with Pokémon’s frontman, Pikachu. Known for his quick agility and
electrifying personality, this electric-ability trait of Pikachu accompanied
with the other super powers of his friends, are exactly the strength and
robustness we all need to charge forward this New Year.

Featuring
the 5 most favourite Pokémon characters.
From left: Snorlax, Eevee, Pikachu,
Charmander, Bulbasaur

Pokémon
in 999 Pure Gold Ang Pow Collectibles

Symbolising good luck and
blessings, SK Jewellery Pokémon Pure Gold Ang Pow collectibles are the perfect
gift your loved ones this season. Exclusively designed and crafted in 999 Pure
Gold, the collection includes a wide range of delectable gold coins, gold bars
and collectibles.

An assorted mix of gold coins
are available, with different ornaments to depict the Lunar New Year season.
Auspicious greetings, blooms and fireworks grace the Ang Pow Gold Coin designs.

Available in varied designs,
this exclusive range of gold bars dazzle with beautiful splashes of colours.
The designs meaningfully captures the exuberance of Pokémon characters, and are
each artfully greeted with auspicious greetings.

Pokémon
in 999 Pure Gold Jewellery

Available in charms, pendants
and earrings, these iconic Pokémon characters are masterfully crafted in the
highest purity of gold, 99.9%. Every piece of pure gold jewellery is made to
the finest detail, bringing out each character’s nuance and endearing
personality.

Pokémon
in 916 Gold Jewellery

Pokémon jewellery is also
available in 916 Gold Enamel Collection. This colourful and vibrant series is
overloaded with cuteness. A definite mood up-lifter to start the New Year with
cheeriness and liveliness.

About
the Brand’s inspiration

SK Jewellery wants to
celebrate the joys of the festive season by designing a collection that holds
the true meaning of auspicious blessings — the importance of family and
reunion, a theme synonymous to Pikachu and friends’ unity. Through these
meaningfully designed creations, the brand hopes it symbolises the same message
for both the givers and recipients. 

How
to get your SK Jewellery Pokemon 999 Pure Gold Ang Pow

Be one of the first to get your hands on these joyful
Pokemon pieces at SK Jewellery Launch Exclusive on 28th December
2019. Here’s a roundup of what shoppers can expect:

  • Launch exclusive; limited-edition
    999 Pure Gold 3D Pikachu Coin Ang Pow at $49 (U.P $99)
  • Amazing Pokémon Lightning Deals
    from $98 onwards, get exclusive Pokémon free gift including 999 Pure Gold
    Pokémon Figurine with purchase
  • Capture some perfect
    Instagram moments with Pokémon exclusive installation

The Pokémon Chinese New Year
and classic collections will be made available at all SK Jewellery showrooms
and Eshop from 26th December 2019.

About SK Jewellery Group Limited

Headquartered in Singapore, SK Jewellery Group Limited
(“SK Jewellery Group” or the “Company” and, together with its
subsidiaries, the “Group“) was founded in 1991 and has an established
presence of over 20 years in Singapore and over a decade in Malaysia. It has
one of the largest networks of over 60 retail stores in both countries,
strategically situated in prime shopping malls.

As a leading and established jeweller, SK Jewellery
Group offers a wide range of jewellery products and mementoes through its SK
Jewellery and Love & Co. brands to cater to a diverse range of
consumer tastes and preferences, occasions, and demographics. Each brand has a
unique identity, with distinctive branding, marketing efforts and product
offerings.

SK Jewellery offers an extensive range of fashionable
jewellery and mementoes for a wider demographic. This includes SK Jewellery‘s innovative Dancing
Star and Star Carat collections
as well as the SK 999 Pure Gold collection,
featuring bridal jewellery, sculpted art pieces, commemorative gold bars and
coins.

Love & Co. specialises in bespoke bridal jewellery, notably,
made-to-order engagement rings and wedding bands such as the signature
Lovemarque and LVC Promise collections. Through customisable design elements
and personalisation services, Love & Co. seeks to establish special
connections with customers.

For further information about the Group,
please refer to its website at https://www.skjewellerygroup.com.

Nigeria Profits from Public-Private Investments: Waltersmith Modular Refinery Set to Meet the Scheduled Deadline

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Nigeria Profits from Public-Private Investments: Waltersmith Modular Refinery Set to Meet the Scheduled Deadline

Phase one of the modular refinery and the groundbreaking ceremony of phase two is expected to hold in May 2020; The Waltersmith project has already reached 90 percent completion; The project falls in line with H.E. Chief Timipre Sylva’s objectives to foster private sector participation in increasing domestic refinery capacity.

Last week, Nigeria’s Minister of State for Petroleum Resources, H.E. Chief Timipre Sylva paid an inspection visit to the Waltersmith Modular Refinery in Ohaji/Egbema LGA, Imo State.

Accompanied by Executive Secretary of the Nigerian Content Development Monitoring Board (NCDMB) Engr. Simbi K. Wabote, Minister Sylva said the Federal Government would continue on its efforts to ensure that the project meets the set deadline where phase one (5,000 BPD) of the modular refinery and the groundbreaking ceremony of phase two, which is targeted at delivering 25,000 BPD crude and condensate refinery; designed to produce gasoline, diesel, LPG, kerosene and aviation fuel, is expected in May 2020.

The minister said that the overall expectation of the site visit where the project that has already reached 90 percent completion, “was to see indigenous Nigerian Companies do well and the Waltersmith Modular Refinery is a major bright spot which has recently been incorporated into the Nation’s projection for petroleum product sufficiency and availability.” Further, the minister directed that the NCMB and Waltersmith Petroman Oil Limited (Waltersmith) should centre their attention to corporate social responsibility which will ensure a “sustained and successful relationship with the host community.”

To this, AbdulRazaq Isa, Chairman of Waltersmith said the project’s first phase would create several direct and indirect jobs for the host community.

“This project is crucial for the development of the refining sector on the continent. Alongside the Dangote refinery which is slated for completion in early 2021, Nigeria is quickly setting an example for the role private investment stands to play in the development of the industry’s capabilities,” said NJ Ayuk, Executive Chairman of the African Energy Chamber. “Nigeria is Africa’s largest crude producer, yet it lacks the refining capacity to meet its own fuel needs and through projects like these, the country is effectively making the move towards addressing this issue,” he added.

The public-partnership sees Waltersmith holding a 70 percent interest while NCDMB holds the remaining 30 percent.

One of the main drives for the development of this project include the crude loss which comes as a result of crude handling and the cost of crude transportation from the marginal fields owned by Waltersmith, said AbdulRazaq Isa who also explained that the first phase of the project is expected to contribute an estimated 271 million litres of refined products including Diesel, Naphtha, HFO and Kerosene annually to the domestic market.

The project reached FID in September 2018 with an 18-month Delivery time from November 2018 to May 2020, for phase one.

Waltersmith Petroman Oil Limited is a wholly-owned Nigerian integrated energy company. It is the operator of the 7000 BPD Ibigwe field located on the OML 16 in the eastern Niger Delta and is also active in the OML 34 in Niger Delta Western Ltd where it holds an 8.33 percent stake.

Following a competitive bidding process in EGRonda 2019, the company was awarded a 40 percent stake in Block EG-23 earlier this month, allowing it to take operatorship of the asset.

The Block is located in Equatorial Guinea’s Niger Delta basin. This acquisition forms part of the company’s expansion plan which will see it venture further into Africa as it works to participate in accelerated production and extended value creation.

African Development Bank Approves $21.783 Million Grant For Roll Out Of Solar-Powered Irrigation

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African Development Bank Approves $21.783 Million Grant For Roll Out Of Solar-Powered Irrigation

The African Development Bank’s Board of Directors has approved a grant to the government of Sudan to accelerate the adoption of solar-powered irrigation pumps in the country’s West Kordofan and North Kordofan states.

The project will enable farmers’ adoption of renewable energy technology through the installation of 1,170 photovoltaic (PV) irrigation pumps, the establishment of maintenance and repair workshops for the pumps, and the supply of equipment for a pump testing laboratory to provide certification and training.

Agriculture is an important economic sector in Sudan. In 2016, nearly 40% of the country’s GDP came from farming. For the sector, and for the wider economy, the project offers significant and numerous knock-on benefits. As a result of the expected phasing out of diesel-fueled pumps, participating farmers will realise cost savings from no longer needing to purchase diesel, which is scarce in rural areas. Productivity also would increase: diesel generators require time-consuming maintenance and repair. Pollution and greenhouse gas emissions from agriculture, the country’s largest contributor, would fall.

Mr Paul Baldeh, the Bank’s Director for Power Systems Development, noted that “by extending farmers a grant covering 75% of installation costs, the government, with Bank support, will overcome the most significant hurdle of adopting clean PV technology: high upfront costs.” The remaining 25% will be payable in instalments over three years. He added that the project will conduct a groundwater survey and sustainability assessment that will inform the development of subsequent projects in Sudan.

The project meets the Sudanese government’s renewable energy and poverty reduction objectives as well as the Bank’s High Five and Energy Sector Policy. Moreover, the project has a strong potential to be replicated and scaled up in other parts of the country.

Triton Solar to Invest $300m in Plants in Lagos, Oyo, Abuja

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Triton Solar to Invest $300m in Plants in Lagos, Oyo, Abuja

The Managing Partner, Global Head of Business, Triton Solar, Mr Bhagi Sandilya, has said the company will invest $300m or more in Nigeria.

He explained that his company, a United States-based manufacturer of solar panel, lighting and batteries, would invest at least $100m within five years in each of the three plants of the company to be located in Lagos, Oyo State and Federal Capital Territory, Abuja.

Sandilya spoke on Sunday on the sideline of his visit with the Chairman/Chief Executive Officer of Silicon Valley Nigeria Economic Development Inc, Chief Temitope Ajayi, to a former Minister of Industry, Alhaji Bamanga Tukur.

He said, “The total investment worth of this plant is $100m or more over five years, starting with $25m in the first year. We need 20 per cent funding commitment from state or local financier partner.”

He explained that the company with its global headquarters in New Jersey, USA also operates in Canada, United Arab Emirate, Morocco and India, adding that Nigeria would be its first country of operation in Africa.

He said the solar energy of the company would reduce the price of power, provide clean energy solution and could electrify Nigeria, from street lights to hospitals, markets and other commercial and residential customers.

Tukur, who is Executive President of the African Business Roundtable and Chairman of NEPAD Business Group, said energy challenge was a major problem negatively affecting industrialisation, productivity and general wellbeing of Nigerians.

He stated that solar energy was needed in Nigeria, adding that it would accelerate industrialisation and economic growth as well as reduce manufacturing cost.

He said, “We really need safe and sustainable energy that will give us no problem. Solar is a new technology. It is gaining ground. The fossil fuel is no longer fashionable. The sun is here; so solar is the in-thing.”

Ajayi said the Triton Solar investments would create over 10,000 jobs especially for the youths and address one of the United Nations Sustainable Development Goals – employment/job generation.

She said there would be an influx of high profile investors into Nigeria when energy challenge is solved.

CBN wields regulatory stick again

Brand Spur
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CBN wields regulatory stick again
CardinalStone Research
Yesterday, the Central Bank of Nigeria (CBN) announced new guidelines for charges by banks and other financial institutions effective January 1st, 2020. 
Notable highlights of the changes are:
  • Current account maintenance charges: Applicable only to customer-induced current account debit transactions, subject to a maximum of N1 per mille

Electronic funds transfer:

  • N10 for interbank transfers less than N5,000 (vs. flat N50.00 previously)
  • N25 for interbank transfers between N5,001 and N50,000 (vs. flat N50.00 previously)
  • N50 for interbank transfers above N50,000 (vs. flat N50.00 previously)

Card maintenance fees:

  • No charge for cards linked to the current account
  • Maximum of N50 per quarter for cards linked to savings account (compared to the current monthly charge of N50)

Card issuance/replacement/renewal fees:

  • N1,000 charge irrespective of card type—regular or premium— (compared to different rates for different card types previously)

ATM charges (remote-on-us and not-on-us):

  • Maximum of N35 after the third withdrawal within the same month (compared to N65 previously)
Our initial assessment:
On a broad basis, the new guideline is likely to be negative for Nigerian banks given its potential drag on fee-based earnings. Prior to the new guideline, we had expected banks to boost fee-based earnings in order to offset the potential compression in interest income that could be stoked by lower yields. This view was aided by recent investments in e-business channels and a greater focus on retail strategies across our coverage banks. Notably, as at 9M’19, fee and commission income accounted for 57.0% of total non-interest income (on average) across our coverage. An adjustment for potential non-recurring gains increases the contribution of fee-based income to about 74.0% on average, highlighting its criticality to non-interest income (NII) growth.
We believe banks with a high ratio of fee-based income to adjusted non-interest income—such as FIDELITYBK (98.3%), ACCESS (86.9%) AND FBNH (78.2%)—are more susceptible to the impact of the new measure. However, we note that e-business related fees could be supported by the extensive expansion of retail footprint which could in turn boost volume of transactions and offset the set-back from lower charges. Elsewhere, ZENITH BANK (52.5% fee income to adjusted NII) and UBA (63.9% fee income to adjusted NII) are likely to receive additional support from stronger trading income (ZENITH BANK) and wider African penetration (UBA), to cushion the impact of revised fees on overall NII. The diversification advantage of ETI is also likely to offset the effect of regulatory-induced changes in coming quarters.
Overall, we expect equity investors to price this in coming trading sessions. We hold the view that the recent high churn rate of regulatory measures by the CBN has heightened uncertainty in the Nigerian banking sector.
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