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Delayed wages: Osun Assembly to organise summit

OSOGBO — The Speaker of Osun State House of Assembly, Najeem Salaam, has promised to mobilise the next assembly to drive a stakeholders’ summit that will examine the challenges facing the state and the lasting solution to them. In a statement signed by his Chief Press Secretary, Mr. Goke Butika, in Osogbo yesterday, Salaam empathised with the enduring workers of the state who were confronted with inevitable delayed wage and pensioners who would have to endure, saying the situation will be addressed shortly.

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Development Finance loans are not national cake — BoI MD

We believe that in terms of the current industrial policy, there are several good elements that will continue to resonate with the Nigerian private sector because many of them have been discussed at forums like the Nigeria Economic Summit Group, NESG, and so on and so forth. So in terms of the Nigeria Industrial Development Plan, NIRP, I believe the policy is sustainable and it is not likely to suffer policy reversal.

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Streamline electricity tariff to reflect actual consumption, MAN urges Buhari

The Manufacturers Association of Nigeria (MAN), yesterday, urged the incoming government to streamline electricity tariff to reflect the actual consumption by the industries instead of the current use of estimated bills. The president of MAN, Dr. Frank Jacobs, made this call at the media luncheon held at MAN’s house, adding that, if the electricity tariff is streamlined, it will drive further improvement in power supply and create a special electricity tariff lines for heavy users of electricity like steel, cement and other strategic sub-sector.

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Banks gain N470bn liquidity from CRR harmonisation

There are indications that banks gained additional liquidity of N470 billion from the harmonisation of Cash Reserve Ratio (CRR) by the Central Bank of Nigeria (CBN). The CRR is the amount of customers deposits that banks are mandated to keep as cash. Prior to last week, the CRR for public sector deposit was 75 percent, while that of private sector deposit was 20 percent.

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Enforcement of group life will improve insurance penetration

“Though belated, insurance companies now have paid-up capital in excess of N5 billion, turn over in excess of N25 billion and asset base of over N50 billion. By continuous constructive engagements, insurer inescapable position shall be surely appreciated,” he said. Ogunbiyi added that insurers’ advertisement through bill boards, radio jingles and television programmes will accelerate insurance acceptance, deepen pension practice and the spread of insurance benefits to all.

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Iran mulls establishment of auto spare parts plant in Nigeria

Islamic Republic of Iran has said it is considering establishing auto spare parts plants in Nigeria in furtherance of the Federal Government’s newly adopted automotive policy to drive indigenous manufacturing of vehicles in the country. Iranian Ambassador to Nigeria, Saeed Koozechi disclosed this while briefing newsmen at a press conference for the first Iran Solo Exhibition to be held in Lagos in June.

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Fashola to commission Candel’s agrochemical plant

Lagos State Governor, Mr. Babatunde Fashola will tomorrow commissioned Candel Company Limited’s integrated manufacturing facility for crop protection chemicals and foliar fertilizers at the Lekki Free Zone, Lagos. Candel Company Limited, which is an agricultural inputs development and distribution company, said that the multi-billion naira project, which is in its first phase, when completed will deliver a facility with capacity for 80 million litres of formulated products per annum.

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Activation: A new approach to brand building

Experiential Marketing (Brand Activation) is becoming the fastest growing segment of the Integrated Marketing Communications, IMC sub-sector. Activation Agencies search for new ways to amplify every marketing campaign to reach pre-destined consumer attraction. Princewill Ekwujuru examines activities of Experiential Agencies and challenges in brand Activation.

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SON seeks N115m to host ARSO forum in Abuja

The Standard Organisation of Nigeria (SON) is seeking N115m to host African Organisation for Standardisation, (ARSO)’s President’s Forum for Chief Executive Officers of National Standards Bodies (NSBs) in Africa billed for Abuja next month. The Director General/Chief Executive, Standard Organisation of Nigeria (SON) and President, ARSO, Dr. Joseph Odumodu, disclosed this at the media launch of the convention logo and information manual as well as partnership drive for the ARSO President’s forum in Lagos recently.

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AIG-Express targets 100, 000 jobs across Africa

A joint e-commerce logistics initiative, AIG Express, launched recently by Rocket Internet backed online retailer, Jumia.com and online marketplace, Kaymu.com wants to create about 100, 000 jobs across the different countries they operate in across Africa. The new service which aims to highlight an emerging ecosystem of jobs in e-commerce will also focus on operations management and infrastructure development.

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APCON seeks govt support on effective ad regulation

The Advertising Practitioners Council of Nigeria, APCON, said it has not received the level of attention or support from government to effectively perform as a regulator of the advertising practice in Nigeria. The Council Registrar, Alhaji Bello Kankarofi, stated this during a courtesy visit by Minister of Information, Mrs. Patricia Akwashiki to the Council.

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