Sep102023 by No Comments

Nigeria’s Fiscal Deficit To Decline In Q3, Q4 2023 — MPC

BRANDS, BUSINESS

Members of the Monetary Policy Committee, MPC, of the Central Bank of Nigeria (CBN) have projected a continuous decline in the federal government’s fiscal deficit in the third quarter and fourth quarter of this year (Q3, Q4 2023). They based their projections on the recent efforts by the government to manage expenditures better and also improve oil and non-oil revenues. This was revealed in their personal statements contained in the CBN MPC Communique 149. In his statement, the Permanent Secretary, of the Federal Ministry of Finance, Budget and National Planning, Mr. Aliyu Ahmed, said: “The fiscal deficit is expected to decline in the third and fourth quarters of 2023 on the back of recent efforts by the new government to manage expenditures better and also improve oil and non-oil r...

Aug182023 by No Comments

With Homemade, Eden Life Unleashes Value-Based Food Service

BRANDS, HOSPITALITY

Eden Life, an innovative tech startup delivering purposeful solutions to Nigerians' home service needs, has launched its groundbreaking branch-out platform, Homemade by Eden Life. With high-quality ingredients matched with detailed cooking methods, Homemade by Eden Life offers customers comfort, easing stress while saving cooking time. The first indigenous food product in Nigeria to promise an unmatched homely feeling, Homemade by Eden Life is a valued-based product that offers care and attention in service delivery. Whilst providing easy access to healthy home-cooked meals for busy Nigerians using customized subscriptions, Homemade by Eden Life is the answer to the cooking challenges of a busy professional in a city like Lagos. Homemade by Eden Life is indeed a timely culinary i...

Aug22023 by No Comments

Nigerian Chef Tolu Eros On Building A West African-Inspired Culinary Empire

BRANDS, BUSINESS, HOSPITALITY, HOTEL

Nigerian Celebrity Chef Tolu Erogbogbo, also known as Chef Tolu Eros or “The Billionaire Chef,” developed a love for entrepreneurship after starting his first business at the age of 13 selling snacks to his classmates. The culinary entertainer discovered his passion for food while studying at the University of Wolverhampton. He took his first job at a restaurant and started a business he called “Chicken Guy.” In 2009, he moved back to Nigeria to open his first restaurant at the age of 21. During that time, Erogbogbo unknowingly started what would become his life’s passion. It’s a passion rooted in a love for food, flavors and West African culture. Chef Eros has dazzled the tastebuds of celebrities, political tastemakers and influencers, who are both friends and private clients. Today, h...

Jul312023 by No Comments

Owner of KC Restaurant Now Cook In Africa Says, ‘Our Meals Are Intricate’

BRANDS, BUSINESS

To many, it might sound like “Jello fries” when Victor Ejelonu, a Nigerian immigrant, says it. In fact, he is saying something considerably more appetizing: jollof rice, a dish spiced with tomatoes, onions and a variety of seasonings. “Every country in West Africa has its own version,” Ejelonu said this week. “The Wolof tribe in Mali claim to have the original recipe. Ghana and Nigeria say they have the best. It depends on where you eat it.” The jollof rice, Ejelonu said, is one of the highlights on the menu at My Village Grill, which he opened in an Independence strip mall in 2018, closed in 2022 and reopened last week in midtown Kansas City at 26 E. 39th St. Before he arrived in the U.S. 18 years ago, Ejelonu was a cook and a manager at his family’s restaurant in Benin City, ...

Jun92023 by No Comments

Elevato And Associate’s CEO-The Importance of The CEO Brand

BRANDS

When I began Elevato and Associates, in January 2017, I realized that the CEO’s personal brand is very important, as they are the brand ambassadors of the organisation. Many CEOs feel, when it comes to branding, the organisation is separate from theirs. This is far from the reality as the CEO’s brand equity is closely tied to the corporate brand because it has the power to make or destroy an organisation’s brand. At Elevato and Associates, we believe aCEO should have a strong personal brand, a good example in Nigeria is Dangote who also uses his name to brand his businesses. He has a strong brand equity in Nigeria, Africa and globally. We are all witnesses to the continued growth of his business empire. He is trusted, has strong ethics, values and principles, making him attractive...

May302023 by No Comments

Billionaire Otedola Accuses Elumelu of Stabbing Him In The Back In The Past.

BRANDS

Otedola accuses Elumelu of backstabbing in Transcorp shares drama, Femi Otedola has opened up about his relationship with Tony Elumelu, and Transcorp shares. He offered to buy Transcorp for N250 billion but was rejected. Femi Otedola, the Nigerian billionaire and businessman, has opened up about his relationship with Tony Elumelu and his interest in the Transnational Corporation of Nigeria (Transcorp). Otedola's recent divestment of his 6.3% stake in Transcorp to Elumelu has been the subject of much speculation in the Nigerian business community, but he has now shed some light on the situation. In a statement, Otedola said that he had offered to buy Transcorp for N250 billion, but his offer had been rejected. He stated that his interest in the company was driven by a desire to unlock...

May302023 by No Comments

Why Otedola Fumes Over Transcorp Deal, Elumelu Keeps Mum

BRANDS

Billionaire businessman, Femi Otedola, on Tuesday, said his offer to buy Nigerian conglomerate, Transnational Corporation Plc, for N250bn was rejected. Otedola made some allegations against the Chairman of Transcorp, Tony Elumelu, in a statement he issued to TheCable, weeks after he acquired stakes in Transcorp and sold the shares. Otedola revealed that he had bought the shares of the organisation because he believed in the potential of the Group to hit N2tn in valuation. Otedola said, “I offered to buy Transcorp Plc for N250bn, but unfortunately, my offer was rejected. My goal was to maximise the company’s potential as a Nigerian conglomerate with a market cap of at least N2tn instead of the current N40bn, but it seems some shareholders have a different vision. “As a businessm...

May162023 by No Comments

Hilda Baci: Dana Air To Support Guinness World Record Breaking Chef With One Year Free Tickets.

BRANDS

… Mum gets 3 months of free flights Dana Air has announced its support for the Guinness World Record-breaking Chef Hilda Baci, with one year of free tickets for all her domestic travels. Hilda surpassed the current world record for the longest cooking marathon by an individual. The 27-year-old started cooking on Thursday 11th May 2023 and reached her record of 96 hours to beat India's Lata Tondon who set the record with 87 hours 45mins in 2019. Speaking on the support for Hilda Baci, the Chief Operating Officer of Dana Air, Ememobong Ettete, Dana Air has and will always support the craft, creativity, efforts, and innovations of young Nigerians who embody the true Nigerian spirit as a proudly Nigerian brand. "We have always blazed the trail in terms of support for the arts an...

May12023 by No Comments

FG Introduces New Taxes On Beer, Imported Vehicles, Plastics

BRANDS, INDUSTRY

The Federal Government said under the new tax regime, N75 per litre will be charged on beer, stout and imported wine, adding that this new excise duty on beer and stout will be increased to N100 per litre in 2024. The Federal Government has also revised the import prohibition list with the inclusion of new itemsAlso, additional taxes are to levied on motor vehicles with 2% new tax on 2 litre engine vehicles, while 4 litre engine vehicle will attract 4% new tax. The Federal Government has introduced new set of taxes on alcoholic beverages, imported vehicles and single use plastics in its new tax regime. The government has also added to the list of items banned from being imported into the country with about a month to the end of President Muhammadu Buhari’s administration. Under...

May12023 by No Comments

NDIC Verifies Defunct Peak Merchant Bank Depositors

BRANDS, FINANCE

The Nigeria Deposit Insurance Corporation (NDIC) has commenced the verification of insured depositors of the defunct Peak Merchant Bank for the payment of their insured sums. The NDIC, in line with its mandate of deposit guarantee and reimbursement of depositors in the event of bank failure, urged depositors to visit the bank’s old premises or the corporation’s office nearest to them with proof of account ownership and verifiable means of identification for the exercise. The payment was in February 2020 put on hold due to litigation challenging the revocation of the bank’s operating license. According to a press statement signed by the corporation’s spokesperson, Bashir Nuhu, the verification exercise will enable depositors of the defunct bank to cross-check and ascertain their ac...

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