Out of seven listed consumer goods firms in Nigeria, Dangote Cement Plc, Nigerian Breweries Plc, and International Breweries Plc recorded the most tax expenses last year, a BusinessDay analysis has shown. According to the firm’s latest financial statements, Dangote Cement had a tax expense of N97.5 billion in 2023, up[Read More…]
Author: Godwin Anyebe
ARCON gives deadline for documentation of Non-Nigerian Ad practitioners
The Advertising Regulatory Council of Nigeria (ARCON) has given March 31 as the deadline for Advertising agencies presently engaging non-Nigerians to obtain approval for such employment with the council. The apex regulatory body, in a statement signed by its Director-General, Dr Lekan Fadolapo, stated that the directive, which affects full[Read More…]
10th anniversary: Dentsu Nigeria now leading force in advertising, says Emeka Okeke
The Group Chief Executive Officer of MediaFuse-Dentsu Nigeria, Emeka Chris Okeke, expressed delight at the progress made by the company in the past 10 years. He noted that the company had broken many grounds and pioneered many initiatives in the Nigerian market. The marketing communications expert said, “MediaFuse-Dentsu Nigeria has[Read More…]
SERAP Demands Details of $69.3m NBET Electricity Supply to Benin Republic
The Socio-Economic Rights and Accountability Project (SERAP) has asked the Nigerian Bulk Electricity Trading Company (NBET) to give an account of the $69.3 million it reportedly collected for the supply of electricity to the Benin Republic. According to the organisation, a report by the Auditor General of the Federation had[Read More…]
Nigeria Customs Awaits Order to Reopen Illela Border
The Nigeria Customs has assured stakeholders at the Illela border that all is set for the reopening of the border pending the last order from higher authorities following the lifting of some sanctions on neighbouring Niger Republic. The Area Controller of the Sokoto/Zamfara Area Command, Comptroller Kamal Mohammed, disclosed this[Read More…]
Indomie Jumps From ₦8,500 To ₦18k; Groundnut Oil ₦7k To ₦11k; Potatoes ₦25k To ₦40k
In Jos, where Irish Potatoes is cultivated, a bag of Irish Potatoes which earlier cost N25,000 now sells for N40,000. It has been revealed that prices of goods have increased by over 100 percent. This is according to a market survey by Peoples Gazette at Mararaba, an Abuja satellite town[Read More…]
NGX: Transcorp Power, First Bank among top entities as investors gain N226bn
Investors in the Nigerian equities market enjoyed the third consecutive day of profit with a gain of N226 billion at the close of trading on Wednesday. This followed strong performances by Transcorp Power, Transcorp, First Bank of Nigeria Holdings (FBNH), and Africa Prudential Insurance in today’s trading. After five hours[Read More…]
MAN urges FG to suspend expatriate employment levy
The Manufacturers Association of Nigeria (MAN) has called on the federal government to reconsider the implementation of the recently launched Expatriate Employment Levy. It said the levy, if not reversed, might expose the federal government to a plethora of lawsuits that would distract it from the task of salvaging the[Read More…]
The Travesty of ARCON Regulation
The journey of the most turbulent and divisive times in the Nigerian Marketing Communications Industry started in 2021 with the launch of the Advertising Industry Standard of Practice (AISOP) by the Advertising Practitioners Council of Nigeria (APCON), now The Advertising Regulatory Council of Nigeria (ARCON). APCON had disclosed that AISOP[Read More…]
Africa Brands Media Set to Host Brand Growth Summit/Awards
The African Brands Media Limited, publisher of the leading African Brand Magazine has announced its readiness to hold its 2024 Edition of the Africa Brands Growth Summit/Awards. In a statement made available to newsmen recently in Lagos, the organisers of the event disclosed that, this year’s event with the theme;[Read More…]
Consumer TV
FG Revenue Rises 76% to N12.5tn, Fueled by Tax and Oil Gains — Budget Office
The Federal Government’s earnings have increased by 76 percent, rising from N7.1 trillion in 2022 to N12.5 trillion in 2023, due to higher taxes and oil revenues. This information was revealed in the recently released 2025-2027 Medium Term Expenditure Framework and Fiscal Strategy Paper from the Ministry of Budget and[Read More…]