Writes Police To Arrest Abure
The crisis in the Labour Party (LP) has taken another dimension as the Lamidi Apapa-led faction on Friday issued a warning letter to the party’s 2023 presidential candidate, Peter Obi.
The Apapa camp also, in a letter addressed to the Inspector General of Police, demanded the arrest of Julius Abure, the National Chairman of the Labour Party.
Apapa and Abure have been engaged in a protracted legal battle over the leadership of the party.
The warning letter issued to Obi, with reference number LP/NWC-NEC/WARNING LETTER/PO/ABUJA/VOL.1/2023/02, was dated August 24, 2023 and signed by Apapa as Acting National Chairman and Saleh Lawan as Acting National Secretary respectively.
According to the letter seen by THE WHISTLER on Friday, Obi was issued the warning for recognising Abure as the national chairman of the LP during the flag-off of Athan Achonu’s campaign for the November 11 governorship election in Imo State.
The letter was titled ‘Warning letter over your serial violations as contempt of court order and judgements; and disclaimer of the Imo State gubernatorial campaign flag-off by Mr. Peter Obi, Barr Julius Abure and Sen. Athan Achonu, on Tuesday, 22nd August, 2023 in Owerri’.
Addressing Obi, the letter said, “The Labour Party (LP) NEC and NWC declared to you that Alhaji Lamidi Bashiru Apapa is the Acting National Chairman of the Labour Party in Nigeria till today and contrary to your declaration at the venue of your illegal, unlawful and unauthorised gubernatorial campaign flag-off for Senator Athan Achonu on Tuesday, 22nd August, 2023.”
In another letter addressed to the IGP, dated August 23, 2023, with reference number LP/NWC-NEC/WARNING LETTER/PO/ABUJA/VOL.1/2023/01, the Apapa faction said Obi should heed the warning with immediate effect to prevent himself from being “suspended from the Labour Party”.
The letter, equally signed by Apapa and Saleh, further demanded the arrest and prosecution of Abure and members of his Labour Party national executive committee.
The Apapa camp said Abure and his faction are guilty of serial contempt of various court orders which affirmed Ikechukwu Ukaegbu as the candidate of the Labour Party for the November 11 governorship election in Imo State.
THE WHISTLER reports that Ukaegbu emerged as candidate in a primary election conducted by the Apapa faction on April 16 while Achonu emerged as the party’s flag bearer in another primary election held by Abure’s camp on April 15.
The Independent National Electoral Commission (INEC) however recognised Achonu, and other candidates produced by Abure’s camp, as LP flag bearer for the November 11 gubernatorial polls in Imo, Kogi and Bayelsa.
But Apapa claims that Abure and members of his executive committee colluded with INEC officials to upload illegal names on the Commission’s portal.
Both the Obi and Abure camps could not be reached for comments.
The Federal Inland Revenue Service will begin its new Value Added Tax regime for companies by September as the Federal Government doubles its search for revenues.
The FIRS said subject to the Finance Act 2023, VAT withheld or collected, VAT on items excluded from building, the new Tertiary Education Tax rate of 3 per cent and Investment Allowances and Convertible Currencies will become effective September 1, 2023.
Certain amended provisions of the Finance Act 2023 were enacted on 28th May, 2023 with the effective date of 1st May 2023.
However, the effective date was changed to 1st September 2023.
Some of the amended Sections are 14 (3) which deals on VAT Withheld or Collected.
The VAT Act was amended to the effect that persons appointed to withhold or collect VAT shall remit the VAT withheld or collected on or before the 14th day of the month following the month in which the VAT was withheld or collected, the FIRS said.
“Consequently. All VAT withheld or collected in August 2023 shall be remitted to FIRS on or before the 14th of September 2023. Similarly, VAT withheld or collected in subsequent months shall be remitted to FIRS not later than 14th day of the month following that in which the VAT was withheld or collected,” FIRS said.
FIRS also said the definition of “building” was amended in Section 46 of the VAT Act to exclude any fixture or structure that can be easily removed from the land.
Examples of items excluded are radio and television masts, transmission lines, cell towers, mobile homes, caravans and trailers.
It added, “As such, all the items removed from the definition of land have become chargeable to VAT. Companies letting. trading in or providing services with such items must charge VAT at the prevailing rate with effect from 1st of September, 2023.”
Companies will also begin the payment of the new 3 per cent rate on Tertiary Education Tax (TET).
By the amendment to Section 1(2) of TET Act, the rate of TET was changed to 3 per cent of assessable profits. The new TET rate of 3 per cent will take effect for TET becoming due in respect of the accounting period ending on or after 1st September, 2023.
On investment allowances and convertible currencies, Sections 32, 34 and 37 of the Companies Income Tax Act (CITA) granting allowances in respect of capital expenditure incurred in certain circumstances, and tax exemption on income earned in convertible currencies from tourists by hotels have been repealed.
“Consequently, the said allowances and tax exemption are no longer available for tax returns becoming due in respect of the accounting period ending on or after 1st September, 2023,” the FIRS said.
Bandits have demanded N4 million in ransom for the release of one of the National Youth Service Corps (NYSC) members kidnapped in Zamfara State.
On Friday, armed gunmen allegedly kidnapped eight members of the National Youth Service Corps (NYSC) along a highway in Zamfara State.
The graduates were allegedly traveling in an Akwa Ibom Transport Company (AKTC) bus from Uyo, Akwa Ibom, to Sokoto State to participate in the mandated national service when their vehicle was stopped.
Emmanuel Etteh, the father of one of the victims, Glory Thomas, confirmed the latest development to an online medium, in a telephone conversation on Friday.
Etteh said the bandits called with their number to inform him about the abduction of his daughter and asked him to pay N4 million to secure her release.
“They called me with their line; they asked me to pay N4 million. I spoke with my daughter because I asked how they wanted us to pay; she said we should contact the AKTC,” the troubled father said.
“Since that time, they have not called and I have not spoken with my daughter. I don’t know if they have released them but my daughter has not called me.”
The police command in Zamfara State has not passed any comment on the abduction.
However, a military source who preferred anonymity had earlier confirmed the bandits’ ransom demands, adding that a rescue team is currently combing the forest in order to rescue the victims unhurt.
An Ogun State Magistrate Court sitting in the Isabo area of Abeokuta, the state capital, on Thursday, sentenced one Ibrahim Giwa to one-year imprisonment for burglary and stealing.
Giwa was sentenced to a three-count boarding on felony to wit malicious damage and stealing.
The PUNCH METRO gathered that Giwa, on Monday, broke into a dwelling house of the Federal Government of Nigeria Housing Estate in the Ajebo axis of the state.
The Prosecutor, ASP Olakunle, told the court that Giwa damaged and stole some transformer cables worth N1,700,000, aluminum window worth N85,000, OX ceiling fan worth N21,000, aluminum window net worth N25,000 and heat extractor device worth N21,500.
The charge against the defendant before his conviction reads,”That you Ibrahim Giwa ‘m’ sometimes on 21st August 2023 at Federal Government Housing Estate Ajebo Road OGTV Area, Abeokuta in the Abeokuta magisterial district broke into a dwelling house of Federal Government of Nigeria Housing Estate with intent to committee felony to wit malicious damage and stealing, and thereby committed an offence punishable under section 413 of the Criminal Code Laws of Ogun State.
“Thal you brahim Giwa ‘m’ sometimes on 21st August 2023 at Federal Government Housing Estate Ajebo Road OGTV Area Abeokuta in the Abeokuta Magisterial district did willfully and unlawfully damaged some transformer cables worth (N1,700,000), Aluminium window worth (N85,000), OX ceiling fan worth (N21,000), Aluminium window net worth (N25,000) and HEAT extractor device worth (N21,500), and thereby committed an offence punishable under section 451 of the Criminal Code Laws of Ogun state of Nigeria 2006.
“That you Ibrahim Giwa ‘m sometimes on 21st August 2023 at Federal Government Housing Estate Ajebo Road OGTV Arca Abeokuta in the Abeokuta Magisterial district did stole transformer cable worth (N1,700,000), Aluminium window worth (N85,000), OX ceiling fan worth (N21,000), Aluminium window net worth (N25,000) and HEAT extractor device worth (N21,500), thereby committed an offence contrary to section 393 and punishable under section 390 of the Criminal Code Laws of Ogun State of Nigeria.”
The magistrate, Mrs O.O Odumosu, who found the convict guilty of the allegations, sentenced the suspect to six months imprisonment for the first count, three months for the second count and three months for the third count.
Odumosu ordered the convict to pay a N30,000 fine, noting that the one year should be spent concurrently.
Emmanuel Osodeke, president of the Academic Staff Union of Universities (ASUU), has dispelled rumours of a fresh strike by lecturers.
The insinuations have been making the rounds following a ruling in favour of the federal government’s ‘no work, no pay’ policy.
Nigeria’s public universities have seen repeated disruptions in academic calendars over the years, with striking lecturers protesting funding deficits, poor conditions of service, and decay in infrastructure.
ASUU embarked on its 16th strike in 23 years in 2022. The strike lasted for eight months.
In September 2022, the National Industrial Court (NIC) stopped ASUU from continuing with the strike, pending the determination of a suit.
The federal government insisted that the lecturers would not be paid for the period they were on strike, due to its ‘no work, no pay’ policy.
On May 30, the court upheld the government’s stance on the matter.
ASUU revisited the issue on August 19 during a National Executive Council (NEC) meeting at the University of Maiduguri.
Osodeke said the ‘no work, no pay’ policy ignored the fact that only the teaching component of academic work was suspended during the strike.
Reports have been making the rounds that the union is considering a fresh strike over the ruling of the industrial court.
Osodeke while responding, described the reports as “malicious and unfortunate”.
“We never mentioned the issue of another strike. Are we looking to create confusion? I’m just confused,” he said.
Among the issues raised during ASUU’s NEC meeting in Borno were promotion arrears.
The union traced distortions in promotion arrears to the forceful enrollment of academics on the Integrated Payroll and Personnel Information System (IPPIS).
Osodeke said the job racketeering scandal uncovered in the IPPIS has “eroded university employment tradition”.
He said ASUU received reports of mass exit of academics from public universities due to poor working conditions.
“We call on the new administration to save our nation by rejecting the pervasive neo-liberal policies that have brought untold hardship on academics, the working class, and all underprivileged Nigerians,” Osodeke said.
Delta Gov Oborevwori Appeals Court Judgement Mandating Him To Disclose How Okowa Spent N200 Billion Education Funds
AdminThe Delta State Governor Sheriff Oborevwori has reportedly appealed the judgment of a Federal High Court sitting in Lagos which ordered him to disclose how over N200 billion public funds were spent by the government of Ifeanyi Okowa.
The funds in dispute flowed to the government from the Universal Basic Education Commission (UBEC) fund and from the Federation Accounts.
The judgment was delivered by Justice Daniel Osiagor, following a Freedom of Information suit (FHC/L/CS/803/2019) filed by Socio-Economic Rights and Accountability Project (SERAP).
SERAP based its suit on the case of seven year-old Success Adegor, who was sent home because her parents could not afford N900 school fee/levy.
Miss Success was seen in a viral video in March 2019 saying, “No be say I no go pay, dem go flog, flog, flog, dem go tire.”
The trial court had in June 2023 ordered Oborevwori to disclose “details of budgetary allocations and actual spending by the Okowa government between 2015 and 2019, including specific projects carried out to improve primary education in Delta State, and the locations of such projects.”
But on Friday, SERAP tweeted that the trial court judgement has been appealed by the government.
Though it did not state the division of the Court of Appeal where the appeal was filed, it vowed to challenge the appeal when the matter commences.
“Delta State government has filed an appeal against the judgment ordering Okowa government to account for over N200bn education funds and allocations from the Federation Accounts. We’ll see them at the Court of Appeal,” SERAP tweeted.
Nigeria’s Minister of State for Petroleum Resources, Heineken Lokpobiri has said that the Port Harcourt refinery will be ready by December 2023.
This was stated in an August 25 statement signed by Garba Deen Muhammad, Chief Corporate Communications Officer at NNPCL.
The statement read:
“The Federal Government has reiterated its commitment to ending petroleum product importation soon, as efforts are being redoubled to restore the nation’s local refining capacity.
“This was made known by the Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, during an inspection tour of the rehabilitation work progress at the Port Harcourt Refining Company (PHRC) Ltd. plant, in Port Harcourt on Friday.
“The Minister, who was in the company of his counterpart, the Minister of State for Petroleum (Gas), Hon. Ekperikpe Ekpo; Permanent Secretary, Federal Ministry of Petroleum Resources, Ambassador Gabriel T. Aduda, and the Group CEO, NNPC Ltd., Mr. Mele Kyari, said considering the level of progress recorded in the PHRC rehabilitation project, the plant will come back on stream by December this year.
“Our objective in coming here today is to ensure that in the next few years, Nigeria stops fuel importation. From what we have seen here today,
“Port Harcourt Refinery will come on board by the end of the year, Warri will come on stream by the end of the first quarter of next year, and Kaduna will also come on board towards the end of next year. If you add that to the Dangote Refinery, we will be able to stop fuel importation, and Nigerians will enjoy the full benefits of deregulation,” the Minister assured.
“The Minister also said he was satisfied with the ongoing rehabilitation work at the Port Harcourt refinery, noting that once all the refineries are back on stream, Nigerians will enjoy a better supply of petroleum products, and foreign exchange will be domesticated, leading to an improved economy.
“Earlier in his remarks, the Group CEO, of NNPC Ltd., Mr. Mele Kyari, said bringing back the refineries to their optimal levels is a national aspiration, and the Company remains focused on delivering that.
“We are aware of our nation’s challenges in terms of fuel supply. But we are not here to give excuses. We are focused on delivering this rehabilitation project, our two other refineries, and all other investments towards revamping the nation’s refining capacity. We are hopeful that in 2024, this country will be a net exporter of petroleum products,” Kyari stated.
“Also speaking, the Minister of State for Petroleum (Gas), Hon. Ekperikpe Ekpo said: “We are here to go into the field. Yesterday was the era of subsidies. Today, we don’t have subsidies. Today, people are in a desperate situation to heave a sigh of relief; and see how to live. You all know that petrol is very vital to our economy. All hands must be on deck to ensure that the refineries are working,” he stated.
“During the visit, the two Ministers also participated in the Refineries’ Rehabilitation Steering Committee meeting and held a meeting with the refinery’s Engineering, Procurement & Construction (EPC) Contractors.”
Nigeria makes N2tn taxes from Google, Netflix, Facebook and other foreign tech giants In less than 2yrs
AdminThe federal government in 15 months, has reportedly raked in N1.98tn in taxes from Google, Netflix, Facebook, and other foreign companies operating in the country.
The National Bureau of Statistics said the figure includes both Company Income Tax and Value Added Tax.
The Federal Inland Revenue Service noted that the CIT is a 30 percent tax imposed on the profit of companies, while the VAT is a 7.5 percent consumption tax paid for and borne by the final consumer for goods purchased and services rendered.
The Companies Income Tax (Significant Economic Presence) Order of 2020, an amendment of the Finance Act 2019, was issued by the former Minister of Finance, Zainab Ahmed. The order targeted taxing foreign entities that engage in specific services or digital transactions while having a Significant Economic Presence in Nigeria.
In spite of the complexities encountered in enforcing the law on foreign companies generating income from Nigeria, such companies under the FIRS jurisdiction have collectively paid N1.98 trillion in taxes to the federal government from Q1 2022 to Q1 2023.
Within this time frame, N1.32 trillion was collected through CIT, and N661.93billion through VAT, contributing to the Federal Government’s revenue.
President Bola Tinubu on Thursday promised that his administration would conclude a thorough review of the remuneration templates of judicial officers in the country.
Receiving the leadership of the Nigerian Bar Association (NBA), led by Barrister Yakubu Maikyau (SAN), the President said the battle against corruption necessitates a comprehensive review of the salaries and allowances of judicial officers, an issue that is well known to him, given his landmark success in reforming justice administration in Lagos State.
“We must deal with the review of remuneration if we truly want to fight corruption in the Judiciary. We will look at the cost as well as the consequences,” he said in response to a request by the NBA president.
President Tinubu equally acknowledged the importance of addressing the current vacancies within the Supreme Court, affirming that these vacancies represent obligations that must be fulfilled based on recommendations put forth by the National Judicial Council (NJC).
“Majority of them are on holiday now and when they return, we will take a look at what they have and we will fill the vacancies. It’s a fulfillment of an obligation,” he said.
The President thanked the NBA for extending an invitation to him to declare open the association’s 63rd Annual General Conference this weekend in Abuja.
He acknowledged his privilege of having numerous lawyers as close aides, including the Chief of Staff, Rt. Hon Femi Gbajabiamila, the State Chief of Protocol, Amb. Victor Adeleke, and his Principal Private Secretary, Prince Damilotun Aderemi.
The NBA President, in his remarks, commended the President for appointing very distinguished members of the bar into his cabinet, including Lateef Fagbemi, the Attorney-General of the Federation and Minister of Justice.
Local Government Administrators in Ogun state have been urged to uphold self-discipline, financial transparency and accountability towards ensuring judicious utilisation of funds allocated to the councils for expenditure purposes especially project funds in their areas.
Special Adviser to the Governor on Budget and Planning, Mr. Olaolu Olabimtan gave the charge at the Fourth Edition of Local Government Consultative Meeting on Medium Term Expenditure Framework (MTEF), held at the Oba's Complex in Oke-mosan, Abeokuta.
Olabimtan, who emphasized the need for the council administrators to have a clear understanding of the dictates of the State Fiscal Responsibility Law,2020 as amended (FRL), which allows for consultations and technical support with the State government in the determination and preparation of their yearly budgetary expenditure, urged them to explore the provisions accordingly.
Olabimtan hinted that the Prince Dapo Abiodun led- administration had reinforced the socio-economic activities across the State with the introduction of several reforms such as the Medium-Term Expenditure Framework (MTEF) and its allied components, describing MTEF as a 3-year expenditure planning document that sets out priorities for sectoral developments.
"This fourth Consultative meeting with the local council administrators is a statutory meeting stipulated by the State's Fiscal Responsibility Law 2020 as amended, and it is in line with International financial best practice put in place for sustainability purposes of all our socio-economic activities " he added.
The Commissioner-designate called on the administrators to change their mindset regarding budgetary spending and should ensure they justify every fund allocated for projects in their respective areas, calling for a concerted effort towards the actualization of the ‘’Building Our Future Together’’ agenda of the present government in the State.
Earlier in his opening remarks, the Special Adviser to the Governor on Finance who doubles as the Chairman of the State's Economic Team, Mr. Dapo Okubadejo applauded the local government administrators for their past contributions and quality presentations to the budget preparation process in the state, noting that the State's budget performance had improved glaringly due to the several reforms put in place by the government despite emerging macroeconomic realities.
Okubadejo called on the administrators to expedite the process of domesticating the State's FRL,2020 in their areas and harness the potential in their areas for increased internally generated revenue, with emphasis on investments in infrastructure development thus ensuring Public-Private Partnerships for greater economic growth.
In their respective contributions, the Chairman Ijebu-Ode Local Government and Chairman of the Association of Local Government of Nigeria, Ogun State Chapter. Hon. Emiola Ghazal noted that funding was a major challenge affecting the development of the council areas, calling on the State government to give them opportunity to explore the inherent potentials that would shore up their capital base.
Also, the Secretary to Obafemi Owode Local Government, Mr. Kayode Dipeolu emphasised the need for practicability and a realistic budget outlook that would address and meet pressing socio- economic needs of the areas, describing the local governments as the bedrock of democracy.
More...
...says military intervention not declaration for war
The Commission of the Economic Community of West African States (ECOWAS Commission) has reiterated the resolve of the regional body to engage military force in restoring the ousted democratically elected President of the Republic of Niger, Mohamed Bazoum to power.
The President of the Commission, Dr. Omar A. Touray, who spoke Friday at a media briefing to clarify the position of ECOWAS in Niger crises, expressed worries that military intervention was fast creeping back into Africa and that it was time to end the contagion.
President Touray assured the people of Niger that the regional body was concerned about their welfare as it worked towards restoring civilian rule and political stability in the country.
The military junta had on July 27, sacked the democratically elected President of the Republic of Niger, Mohamed Bazoum, over alleged poverty and impoverishment of the masses. Although the people took to the streets to welcome the military intervention, ECOWAS leadership handed down a seven-day ultimatum to the junta within which to reinstate the ousted Bazoum or risk intervention of whatever form.
At the expiration of the seven days, ECOWAS Authority of Heads of State and Government began a process of finding a peaceful resolution to the impasse amidst calls by various stakeholders to thread with caution so as not to further escalate violence in the region.
But President Touray felt that the current development in the Republic of Niger has added to the list of attempted coups d’état in the region, the reason Heads of State and Government decided that “this is one coup too many and resolved that it was time to end the contagion.”
He added that the situation in Niger was particularly unfortunate as it came at a time the country was doing comparatively well in terms of security and economic growth.
Justifying the planned deployment of military force to reinstate Bazoum, Touray tasked those challenging the legality of the decision of ECOWAS Heads of State need to do more research on the issue.
He frowned that in spite of numerous provisions against military government and sanctions provided in the various articles and chatters in the region, the decision to deploy military against the junta has been taken out of context and repeatedly misrepresented in the media as a declaration of war against Niger Republic or a planned invasion of the country.
“It is even tragic that some influential persons in the community have promoted this narrative which has been hyped in the social media as the gospel truth. These persons have conveniently ignored the strenuous efforts of the community to engage with the junta to reverse the attempted coup.
“For the avoidance of doubt, let me state unequivocally that ECOWAS has neither declared war on the people of Niger nor is there a plan, as it is being purported, to ‘invade’ the country.
“The ECOWAS Authority of Heads of State and Government has only activated a full scale application of sanctions which includes the use of legitimate force to restore constitutional order. Never has ECOWAS indicated it.
“In the interim, the region is employing other elements of its instruments and engaging with the military authorities as can be attested to by the several missions that have been fielded to the country and our joint efforts with our partners, including the African Union and the UN.
“We are hopeful that these diplomatic efforts will yield the desired outcome and make it unnecessary for the deployment of the force. Nonetheless, preparations continue towards making the force ready for deployment.
“Consequently, the technical arms of the decision-making organs, which include the Committee of Chiefs of Defence Staff have also been directed to prepare the community enforcement mechanism in case it becomes compelling to deploy the force.”
Touray added that the decision of the Heads of State and Government to activate the clause providing for the application of legitimate force in Niger was reached only after dialogue failed.
“We are deeply concerned about the wellbeing of the people and the country. Historically, military administrations have not demonstrated any capacity to better deal with complex political, social and security challenges.
“Let me reiterate that the decision of the ECOWAS Authority of Heads of State and Government, which is currently chaired by President Bola Ahmed Tinubu, the President of the Federal Republic of Nigeria, is to work for the peaceful restoration of civilian rule in Niger Republic without any delay and to use all the instruments at the disposal of ECOWAS towards the attainment of this goal.”
Dangote beats MTN, Globacom, Banks to emerge Most Valuable Brand in Nigeria for 6th Consecutive Years
AdminDangote Industries Limited has emerged as Nigeria’s most valuable brand for the sixth consecutive year. This achievement was confirmed by the brand and marketing firm, TOP 50 BRANDS NIGERIA, as part of its comprehensive 2023 Top Brands perception assessment.
Winning the award for a record 6th time confirms the foremost African indigenous Conglomerate’s unwavering dominance of the domestic brand space.
TOP 50 BRANDS NIGERIA, is a qualitative, non-financial evaluation of top corporate brands in the country. The annual top brands league table which has become like a report card, with which top corporate brands have a feel of their ranking in the market is done with a special purpose model, the Brand Strength Measurement (BSM Index).
The rating firm in a statement said that Dangote got an impressive aggregate score of 86.2 on the Brand Strength Measurement (BSM) index, reinforcing its position at the forefront. The score reflects the consistent excellence of the brand.
MTN remains a strong contender, securing a close second place with an 85 BSM index score. This year's third and fourth positions are secured by Airtel Nigeria and Globacom, both with BSM index scores of 77.9 and 77 respectively. Interestingly, this reaffirms the prominence of telecom brands, with three out of the top four hailing from this sector. Among the Top 10 brands are Access Bank, Zenith Bank, Coca-Cola, GTCO, and First Bank,
Globacom was adjudged the Most Popular Brand following the outcome of a Top of Mind (TOM) Survey, where respondents mentioned 10 brands that came to their mind or that they could easily recall. This year’s survey had as respondents Chief Marketing Officers and Head of Corporate Communications of major companies across the land.
TOP 50 BRANDS NIGERIA announcing the ratings said, "this annual top brand evaluation provides a qualitative, non-financial assessment of the value of leading corporate brands in the country. It gauges consumers' perceptions of brands and their impact on overall brand strength, using the Brand Strength Measurement (BSM) index—a model designed to assess a brand's ability to deliver on its promises from the consumer's perspective."
In today's market, brands have woven themselves into the fabric of our daily lives, from dawn to dusk and even in every consumer choice. This phenomenon is amplified by the rise of concepts like consumer awareness, differentiation, and the dynamics of the global economy, making brands pivotal actors.
Chief Executive Officer of TOP 50 BRANDS NIGERIA Taiwo Oluboyede, speaking on the outcome of this year’s evaluation, likened brand to a person. He said, “A brand is like a person with all the traits that define his/her personality to the audience. When you hear someone’s name, you are likely not just going to remember their faces or apparel, but who they really are and what they mean to you.”
“Someone may claim to be the best man in the world, and could even go as far as doing paid advertising to attract attention. However, the real description of the person to you is your experience. Perception about a person could change from like to dislike or the other way round, the same is also true for a brand. That is why promoters go the extra length consistently remain in the target audience like-list” he added.
He elaborated that the onus lies with brand owners and promoters to uphold compelling propositions and consistently deliver on promises. "It's not just about making pledges anyway; it's about steadfastly living up to them—a commitment that separates the top brands from the rest," he stated.
A breakdown of the 2023 evaluation report indicated that Nigerian-owned brands continued to shine among the top 10, with 10 brands. These are Dangote, Globacom, Access Bank, Zenith Bank, GTCO, and First Bank.
Five of the top ten brands are Banks, while three are Telecoms. Impressively, 9 of the 10 were among the top 10 last year, while 4 maintained their previous position. Airtel Nigeria made a remarkable ascent to third place. Also, six brands have consistently maintained top 10 positions for a remarkable 7 years in a row.
Overall, 26 or 52% of the 50 brands are multinational, while 24 or 48% are Nigerian brands.
Rite Foods Limited stands out as the highest gainer this year, leaping 14 places from 46th to 30th. Notably, Wema Bank makes a noteworthy debut in the annual brand ranking. Furthermore, nine brands maintained their 2022 positions, they are Dangote, MTN Nigeria, GTCO, First Bank, Multichoice, Fidelity, Toyota Nigeria, FMNPLC, and AXA Mansard.
A breakdown of the report indicated that Banking Services, as usual, had the largest entries with 12 entrants, representing 24% of the total. Access Bank topped the category. This is followed by Consumer Goods with 9 brands, that is 18%, with Dufil Prima Foods leading the charge.
The Conglomerates category has 6 brands, making up 12%, with Dangote Group on top. The Oil and gas, Beverages, and Telecom sectors each contribute 4 brands, with Oando, Coca-Cola, and MTN leading their respective categories.
The Insurance sector has 3 brands, with AIICO at the forefront. Meanwhile, the Building & Construction Services, Media, and Electronics categories had 2 brands each, featuring Julius Berger, Multichoice, and Tecno Nigeria leading their respective categories.
Automobile, Agricultural, and Aviation/Logistics sectors had 1 brand each —Toyota Nigeria, Olam International, and Air Peace.
Of note in the report also is a class called Brands to Watch, a set of 10 brands that have shown some level of vibrancy in recent times and are gaining momentum in consumer acquisition with the possibility of achieving the 50 top Brands League Table in few years. It should be noted that, while these brands have considerable mentions in the TOM survey, they were not strictly subjected to the rigorous BSM evaluation.
The federal government has said it is working assiduously to ensure that all the country’s refineries are fixed in order to end importation of fuel as well as stop flaring of gas in the country in next few years.
The Minister of State for Petroleum Resources, Senator Heineken Lokpobiri, disclosed this on Thursday while speaking to journalists at Eleme, shortly after inspecting the ongoing rehabilitation of the Port Harcourt Refinery.
Lokpobiri reassured Nigerians that the Port Harcourt Refinery will come on stream before the end of 2023 and will be producing between 54,000 barrels and 60,000 barrels per day.
He said: “The essence of today’s inspection is to come and see the extent of done in the Port Harcourt Refinery. It is the beginning of our efforts to go round all the refineries in this country.
“From Port Harcourt we will go to Warri, we will go to Kaduna. We will also go to Dangote Refinery where we also have stake. Our own objective is to ensure that in the next few years, Nigeria stops fuel importation. That is why we are here to see the extent of work done.
“From what we are seeing here, Port Harcourt Refinery will come on board by the end of the year. Warri will start by the first quarter of next year and then, Kaduna will come on stream towards the end of next year.
“If we add that together with Dangote Refinery, we will be able to stop fuel importation that take substantial part of our funds. Nigerians will now have the benefit of full deregulation. The idea is to ensure that we complete these refineries on time. That is why we are here.
“The Port Harcourt Refinery, when it comes on stream, will be producing 54,000 to 60,000 barrels per day. Warri, which will start around February next year will produce about 70,000 barrels per day. We believe that Kaduna will come on before the end of next year.
“Then, the whole of this Port Harcourt Refinery will be fully rehabilitated by the end of next year. We believe that Nigerians should expect better supply of fuel, better economy. We believe that this project will be completed on schedule.”
On his part, the Minister of State for Gas Resources, Hon. Kperikpe Ekpo, assured Nigerians that there will be increase in gas generation, which in turn will lead to uninterrupted power supply in the country.
Ekpo said: “From what we have seen today, gas flaring will stop and gas generation will increase so that we can have uninterrupted power supply in the country. So, I am comfortable with what I have seen, the improvement is there and they are dedicated to the work.”
‘The Poor Not On Register’ - Buhari’s Minister Indicted As FG Begins Verification Of NSIP Beneficiaries
AdminThe Former Minister of Humanitarian Affairs and Poverty Alleviation (FMHADMSD) Sadiya Farouq has been indicted by the National Executive Council (NEC) of robbing the poor through the National Social Investment Program, as the Federal Government begins verification of the National Social Register (NSR).
NSR is an information system that supports the outreach, intake, registration, and determination of potential eligibility for one or more social programs.
In January 2022, Farouq said over 46 million vulnerable Nigerians have been captured on the NSR, and the number was pushed up based on insecurity which led to an increase in displaced persons in need of intervention.
However, in July 2023, NEC which is headed by Vice President Kashim Shettima, dumped former President Muhammadu Buhari’s national social register, describing it as a fraud, phantom, bogus, and ambiguous program, indicting Farouq.
It was under the register that over N3trn was distributed by Farouq in the last few years, according to NEC.
Meanwhile the newly inaugurated Minister of FMHADMSD, Betta Edu, on Friday claimed that the 46 million vulnerable Nigerians captured in the NSR were neither poor nor vulnerable.
Edu said this on Friday during an interview with Channels Television, while responding to questions on the verification of the NSR, monitored by THE WHISTLER.
She said, “The first thing which we are starting almost immediately is the verification of the National Social Register.
“For a couple of days and weeks, we have been going back and forth with the governors’ forum and several interested parties, saying ‘the register is okay and not okay.
“We are going to first carry out a full verification of the social register to ensure that truly it is the poorest of the poor, those who deserve to be on that list, that are on that list.
“We will verify, remove, and update the register, and it will be owned by Nigerians both at national, state, and local government areas and even in the community.”
She reiterated that the verification process will cut across the three tiers of government because they complained that one of the challenges, they encounter is non-inclusiveness.
“The process of really getting the poorest of the poor is that we have to have ownership of whatever data that must be used from the grassroots, so we can say these are the poor people, we know them, not just numbers and names, but they are human beings and we can identify them.
“This will be done through the involvement of the NEC, governors, local, traditional rulers, and religious rulers” Edu reiterated.