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These Nigerian Artistes Have The Biggest Endorsements

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Nigerian is  the capital of music in Africa. With many talented and creative singers and upcoming music artistes seeking earnestly for recognition in this industry, the country can boast of a handful of talented singers from different genre representing Nigeria just like our sporting prowess.

We bring you the  top ten list of artistes going home with the fattest endorsement fee:

 

  1. P SQUARE – N180M
    The pop duo have been in the frontline of entertainment in Africa. The star singers, Peter and Paul Okoya known as P Square have been dominant Globacom ambassadors and their deals have been a subject of envy among colleagues. The Alingo crooners are a hardworking set of dancers and singers. P Square’s deal with the same outfit goes for N140 million. One of them, Peter Okoye is the face of Olympic Milk deals swelling their endorsement status. The singers definitely have other deals but these are what is known so far.
  2. D’BANJ- N160M
    D’Banj’s Globacom deal is close to N100 million according to findings.
    In October 2014, D’banj signed a lucrative endorsement deal with Apple/Beats By Dre. The amount of his deal is undisclosed but should be nothing less than N50 million. The Kokomaster also got his own customised headphones which will be launched in December. He also became ambassador for Cîroc drink in Nigeria along with Banky W. ‘The Feeling the Nigga’ crooner posted a bottle of Ciroc and Banky W posting a picture with his best friend, Tunde Demuren and captioned it ‘Showtime’.
  3. WIZKID- N128.6M
    With his N45 million MTN deal almost doubled by rival telecom giant, Globacom, Wizkid is a man that knows his onions. According to a source, Globacom doubled the amount MTN paid Wizkid last year to land him on their side. Wizkid shared several photos of him and Glo Bounce logo with “200% and $$$” as tags. The superstar is a major coup for the Mike Adenuga-led company which doesn’t have many A-List artistes on its brand ambassador list. Wizkid reportedly got N120 million from Glo on a two-year deal which means he will be paid N60 million every year. His 25th birthday last June was marked with a renewal of his contract with Soda giants ‘Pepsi.’ He shared the good news via his Instagram page. He captioned the post – “3years with one of the biggest brands in the world, Pepsi! Looking forward to another 2 years! Done deal! $$ Proud Pepsi ambassador!! ”
    For the last three years, Wizzy was worth about $350,000 in the Pepsi deal and now a renewal of the contract. No wonder the Jaiye Jaiye crooner could afford to replace his crashed N25 million Porsche Panamera last year with a brand new one just two weeks after the bash.43.
  4. IYANYA – N125M
    Iyanya has a N60 million MTN deal. Since he dropped Kukere, the Ibibio hiphop singer who won the maiden MTN Project Fame Contest in 2008, has made a lot of money from his jaw-dropping endorsement deals with top brands. His endorsement deal with MTN is worth N60 million and also has a $350,000 endorsement deal with Zinox Computers and a N35 million deal with a phone manufacturing company, Solo Mobile, where he also received a 2014 Prado SUV.
  5. DON JAZZY- N100M
    Don Jazzy has become the face of hiphop music in Nigeria, even making Forbes’ List as one of the richest artistes in Nigeria. The CEO of Mavin Records isn’t only making money from his star-studded record label, he also has very lucrative endorsement deals including one with Loya Milk where he got nothing less than N50 million. His N25 million deal with MTN has been renewed upwardly. Not much is known whether his endorsement with Samsung Africa has been renewed. So, his endorsement deal is in the region of N100 million.
  6. BANKY W – N100M
    R & B Singer Banky Wellington popularly known as Banky W is smiling to the banks with his whopping N100 million endorsement deal with Samsung Mobile as well as his endorsement with MTN.
  7. TIWA SAVAGE – N90M
    The singing bird and mother of one has an MTN deal worth N30 million and must have gotten it reviewed upwards.
    Apart from her very successful music career, the first lady of Mavin Records also has a number of juicy endorsement deals worth several millions of naira. Her MTN deal is reportedly worth N30 million. Other endorsement deals include contracts with Pepsi, Forte Oil and Maggi which has made Tiwa the richest female singer in Nigeria.
  8. OMAWUMI – N75M
    The Bottom Belle crooner has a Glo deal worth more than N25 million. Omawumi shot into limelight after becoming the first runner up at the 2007 West African Idols. She is now one of the highest paid female artistes charging up to N5 million per show. She is also one of the singers with the highest number of endorsement deals. Glo deal is said to worth N25 million. Others include including Konga worth between N5–10 million, Mortein and Malta Guinness.
  9. DAVIDO – N50M
    HKN artiste, Davido has a N30 million MTN Pulse deal. The Gobe and Aye crooner has deals with MTN Pulse and Guinness Nigeria. While the Guinness deal’s amount is not known, his MTN contract is reported to have made the Omo Baba Olowo N30 million plus richer.
    Considering that Davido has a billionaire father, he may not rely on endorsement deals except for a status symbol. The artiste however has done much good for himself by working hard to become a force to be reckoned with in the music industry.
  10. OLAMIDE – N50M
    The rapper has his contract with Etisalat renewed. He got a mouth-watering deal two years ago. Other deals are on line for the indigenous rapper who has created the niche and become a success story in Nigeria’s hiphop music industry.
    The incredible rapper and now CEO of Chocolate City, MI and his VP, Ice Prince are also in the class of the biggest Nigerian artistes with great endorsements. MI is a Globacom ambassador while Ice Prince pitched his tent with Etisalat.
  11. DAVIDO – N50M
    HKN artiste, Davido has a N30 million MTN Pulse deal. The Gobe and Aye crooner has deals with MTN Pulse and Guinness Nigeria. While the Guinness deal’s amount is not known, his MTN contract is reported to have made the Omo Baba Olowo N30 million plus richer.
    Considering that Davido has a billionaire father, he may not rely on endorsement deals except for a status symbol. The artiste however has done much good for himself by working hard to become a force to be reckoned with in the music industry.
  12. OLAMIDE – N50M
    The rapper has his contract with Etisalat renewed. He got a mouth-watering deal two years ago. Other deals are on line for the indigenous rapper who has created the niche and become a success story in Nigeria’s hiphop music industry.
    The incredible rapper and now CEO of Chocolate City, MI and his VP, Ice Prince are also in the class of the biggest Nigerian artistes with great endorsements. MI is a Globacom ambassador while Ice Prince pitched his tent with Etisalat.

 

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Business

Lagos reviews building permit approvals and processing time

The Lagos State Government has promised to review planning permit processing time and reduce the lay-out approval process.

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Lagos issues ultimatum to Tank Farm Operators over planning permit, Lagos seals 27 residential and commercial buildings in Lekki, LASG Seals 19 more Buildings in Banana Island over planning permit

The Lagos State Government has promised to review planning permit processing time from 28 to 18 days and reduce the lay-out approval process from 90 to 30 days.

This is part of measures employed by the state to re-engineer their operating procedures to meet the 21st-century demands of the Lagos Megacity.

According to a statement from the Assistant Director of the Lagos State Ministry of Physical Planning and Urban Development, Mukaila Sanusi, this was contained in a communiqué adopted from resolutions of an annual retreat of the ministry and its agencies.

What the Lagos State Ministry of Physical Planning and Urban Development is saying

Sanusi in a statement, said, “Highlights of the forward-looking resolutions include the reduction of Planning Permit processing time from 28 to 18 days, reduction of lay-out approval process from 90 to 30 days and the adoption of one stage approval for layout instead of the existing two stages.’’

He pointed out that the staff agreed that the ministry and its agencies should step up their efforts toward realizing their mandates, especially in relation to the 21st century Lagos Economic goal.

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He said, “They resolved to enhance synergy between and among the agencies, particularly the Lagos State Physical Planning Permit Authority (LASPPPA) and the Lagos State Building Control Agency (LASBCA).’’

According to the statement, the Commissioner for Physical Planning and Urban Development, Dr Idris Salako, was quoted as saying the resolutions were capable of delivering many advantages.

Some of the benefits of the re-engineered process

Salako listed the benefits to include;

  • Improved revenue,
  • Enhanced service delivery,
  • Reduction of bottlenecks in Planning Permit and Layout approvals,
  • Drastic reduction in illegal building construction,
  • Seamless attainment of an orderly and sustainable environment.

He urged the workforce to fulfil the content of the communiqué with a renewed commitment to providing needed solutions to the challenges in the system.

What this means

The implementation of the resolutions reached at the annual retreat of the ministry and its agencies will ensure that developers apply and process building permits easier, faster and less cumbersome.

It will also eliminate the delays and bottlenecks experienced at state government agencies and reduce the spate of illegal and unapproved buildings.

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Stock Market

United Capital Plc CEO purchases additional 1.3 million shares worth N7.19 million

United Capital Plc CEO has purchased an additional 1.3 million units of the firm’s shares worth N7.19 million.

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Commercial paper, United Capital Asset Management explains mutual funds’ positive performance

The CEO of United Capital Plc, Mr. Peter Ashade has purchased an additional 1.3 million units of the firm’s shares worth N7.19 million, maintaining a 3-monthly buying streak.

This is according to a recent disclosure signed by the firm’s secretary, Leo Okafor, and sent to the Nigerian Stock Exchange market today, as seen by Nairametrics.

The recent deal which took place on the 22nd of January, 2021 saw the United Capital boss purchase an additional 1,330,613 units of the firm’s share at N5.40 per share, totaling N7, 185,310.2.

Nairametrics learned that the recent deal raises the total number of shares purchased by the CEO in the last three months by an additional 6,000,000 units.

What you should know

  • Mr. Ashade earlier purchased additional 1.5million units of United Capital Plc shares, worth N8.03 million, as reported by Nairametrics.
  • Nairametrics also reported the purchase of one million units of the United Capital Plc shares by its CEO.
  • As of the time of reporting this, United Capital Plc share price currently trades at N5.40, down by 0.92%.
  • The firm has a current market capitalization of N32.4 billion and 6million outstanding shares.
  • The recent deal might be an indicator of strong investors’ confidence in the potentials of the firm.

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Economy & Politics

Senate President lists benefits of PIB as public hearing on the bill opens

Ahmad Lawan has listed the benefits of the PIB presently before the National Assembly for consideration.

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Senate president warns about dangers of youth unemployment, National Assembly to ensure youth empowerment schemes are realized - Lawan

The President of the Senate, Ahmad Lawan, has said that the Petroleum Industry Bill (PIB) which is presently before the National Assembly for consideration and passage will ensure that Nigerians benefit optimally from crude oil production and sale of fossil fuel reserves.

According to a statement that was issued by the Special Assistant, Press to the Senate President, Tabiowo Ezrel, this disclosure was made by Lawan, while declaring open a 2-day public hearing on the bill by the National Assembly on Monday, January 25, 2021.

The Senate President pointed out that the National Assembly in its consideration of the piece of legislation would ensure that the bill when passed into law, guarantees improved revenue earnings for the country.

What the Senate President is saying

Lawan in his statement said, ‘’Let me say this, we (National Assembly) will pass this bill not without ensuring that it is a bill that satisfies certain conditions. Nigeria is blessed with these resources, we want Nigeria to benefit optimally from them. In fact, we are in a hurry because we have lost so many years of benefits that we could have had.’’

He, however, noted that the non-passage of the PIB had been a major drag on the industry over the years, significantly limiting its ability to attract both local and foreign capital at a time when many other countries are scrambling to exploit their oil and gas resources.

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Going further, Lawan said, ‘’The mere knowledge that the nation’s oil industry is still being governed by laws enacted more than 50 years ago is ludicrous and extremely disappointing.

‘’As legislators, we will strive to deliver a Bill that will enhance the growth of our oil and gas industry, modernize our fiscal system and enhance competitiveness, while creating harmony for all stakeholders. This is a promise we have made and that we shall achieve.’’

‘’Nigeria must have an oil and gas industry that benefits its people. Equally, our oil and gas industry must be competitive. We must create a sustainable investment climate, where business in the sector will flourish,’’ he said.

He also added that the determination by the legislature to pass the Bill is driven by the need to overhaul a system that has refused to operate optimally in line with global standards, resulting in loss of continental competitiveness, transparency, accountability, good governance and economic loss for the petroleum industry and the country.

The Different chapters of the PIB

The Senate President revealed that the PIB comprises of 4 chapters that outline;

  • How to create efficient and effective governing institutions with clear and separate roles for the petroleum industry,
  • Establish a framework for the creation of a commercially oriented and profit-driven National Petroleum Company,
  • Promote transparency, good governance and accountability in the administration of the petroleum resources of Nigeria among others.

Other benefits of the PIB

He also noted that the PIB upon passage and assent into law by the President;

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  • Would foster sustainable prosperity within host communities, provide direct social and economic benefits from petroleum operations to host communities,
  • Create a framework to support the development of host communities among others
  • Establish a progressive fiscal framework that encourages investment in the Nigerian Petroleum Industry,
  • Balancing rewards with risk and enhancing revenues to the Federal Government of Nigeria,
  • Provide a forward-looking fiscal framework that is based on core principles of clarity, dynamism and fiscal rules of general applications,
  • Establish a fiscal framework that expands the revenue base of the Federal Government while ensuring a fair return to investors.

Lawan assured that the National Assembly during the public hearing would deal with all issues relating to the oil and gas industry with thoroughness and effectiveness so as to avert colossal losses to the nation’s economy.

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