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InsideMainland partners social media week Lagos to host session on citizen journalism

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Lagos Mainland’s most authoritative community news portal, InsideMainland.com, is partnering the organizers of Social Media Week (SMW) Lagos, to host a session on citizen and community journalism.

The Social Media Week, is an annual worldwide event hosted in over 20 cities, which seeks to explore the social, cultural and economic impact of social media. Its mission is to help people and organizations connect through collaboration, learning and the sharing of ideas and information. The 2018 Lagos edition is scheduled to hold from Monday, February 26 to Friday, March 2, 2018, at the prestigious Landmark Event Centre, Lagos Water Corporation Drive, Oniru, Lagos.

InsideMainland’s session, themed ‘Bringing Lagos ‘Closer’ through Social Media inspired Community Journalism’ (#SMWCloser), will take place on Monday, February 26, 2018, by 1:30 pm on Floor 3, SMW Lagos Campus at the Landmark Center, Oniru, Lagos.

The panelists for the InsideMainland session include; the Honourable Commissioner for Information & Strategy, Lagos State Mr. Kehinde Bamigbetan; the Assistant Director, Programmes, Radio One 103.5 FM, Mrs, Funke-Treasure Durodola; President, Association of Practitioners of Community Media of Nigeria and Publisher, Today Community Newspapers (Ilupeju Today, GRA Ikeja Today & Fela Today), Mr. Adedayo Akintobi, Media personality and former presenter of Areaaa show, a grassroots target programme on Top Radio 90.9 FM, Tosyn Bucknor; and Odion Aleobua, founder InsideMainland and Modion Communications, a full spectrum communications agency. The session will be moderated by one of Nigeria’s seasoned journalists, author and founder of The Journalism Clinic, Mr. Taiwo Obe.

Commenting on event, the founder of InsideMainland, Odion Aleobua said: “The session aims to educate, inform, and open the minds of the citizens and participants to the power and opportunities of citizen journalism and community media in fostering an accountable governance in Nigeria. I believe it will empower citizens to understand and play the role of change agents in their respective communities; thereby bringing democratic gains closer to the people.

This year’s edition of the SMW Lagos 2018 is themed “Closer” and has the underlying intention of exploring the intensifying conflict between community and individualism. The conversation will bring together a diversity of perspectives to discuss the most productive ways to harness these forces to drive innovation, improve consumer experiences and bring people together.

To learn more about the panel session and SMW Lagos 2018, participants can register to attend on the event website – http://smwlagos.com/attend/

ABOUT INSIDEMAINLAND

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InsideMainland (www.insidemainland.com), Lagos Mainland’s most authoritative community news portal dedicated to reporting news, events, people and the government across the Lagos Mainland. By Lagos Mainland, we mean communities outside of Lagos/Victoria Island, such as Makoko, Okokomaiko, Agege, Ajegunle, Iyana Ipaja, Yaba, Ikorodu, Ketu, Imota, Bariga, Ogba, Ojodu, Igando, Oko – Oba, Mile 12, Abule Egba, Festac, Mende, Ogudu, Kosofe, Gbagada, among several others. 

The Lagos Mainland which is home to over 80% of Lagos population, is grossly under reported and InsideMainland understands that a community that is well reported is one that pursues excellence in every ramification, hence the importance of community reporting to achieving the desired development across Lagos State. 

InsideMainland’s objective is to connect Mainlanders and other Lagos residents to credible and authoritative news stories in order to promote the ethos of community among Lagos Mainland. In addition, InsideMainland’s mission is to connect the government to the people whilst promoting good governance through our objective and investigative community journalism.

ABOUT SOCIAL MEDIA WEEK

Social Media Week, now in its eight year, is a worldwide event exploring the social, cultural and economic impact of social media. Its mission is to help people and organizations connect through collaboration, learning and the sharing of ideas and information.

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Christopher B. Pemu has a degree in Political Science from the University of Lagos. He joined Nairametrics in 2014 as News Editor and later as Managing Editor. He currently serves as the General Manager of Nairametrics.He takes pleasure in traveling, enjoys world politics and in sport, he loves watching football and tennis.

Companies

COVID-19, VAT, FX scarcity adversely impacted our operations in 2020 – Nigerian Breweries boss says

NB Plc’s operations in 2020 were adversely impacted by the COVID-19 pandemic, VAT increase and FX devaluation.

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Heineken scoops more Nigerian Breweries shares in insider disclosure

The management of Nigeria’s leading brewer, Nigerian Breweries Plc has revealed that its operations in 2020 were adversely impacted by the COVID-19 pandemic, VAT increase, FX devaluation and scarcity of foreign exchange.

This statement was made by the Managing Director of Nigerian Breweries, Mr Jordi Borrut Bel, at the company’s pre-AGM media briefing for the financial year-end 2020, which held in Lagos this week.

He noted that the increase in the brewer’s cost in 2020 was due to the COVID-19 pandemic which disrupted the company’s operations, as well as the increase in VAT, devaluation and FX scarcity which has put pressure on input cost.

READ: Alcoholic beverage makers on NSE lose a total N27.7 billion in a single day

The Nigerian Breweries boss explained further that the increase in cost could not be fully attributed to currency devaluation and foreign exchange scarcity.

He explained that the increase in costs of goods sold, as reported in its audited financial results, could also be linked to the increase in the volume of goods sold, as the company’s sales volume in 2020 increased by almost the same percentage as the cost of goods sold.

To deal with this challenge going forward, he revealed that the company is focused on the supply chain, and will continue to seek out ways to mitigate any of the price increases coming from FX scarcity.

READ: Brewery sector: A quarter to forget

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The company’s profitability in question?

An analysis of the company’s result revealed that despite the 4.3% increase in net revenue from N323.00 billion recorded in 2019, to a total of N337.01 billion in 2020, the company’s profit declined significantly by 53.3% to N7.53 billion.

Speaking on this, Jordi Borrut in his statement at the press briefing noted that the brewer’s business performance in 2020 was quite impressive especially in the face of the COVID-19 pandemic and economic recession. Despite these challenges, the company maintained a strong and healthy balance sheet.

There was a slight reduction in profitability but compared to the previous year, the business witnessed an improved growth in revenue. The significance of this is that the business became more stable and healthier,” he said.

READ: Nigeria’s triangular beer war on the rise with the arrival of Budweiser

What you should know

  • Nigerian breweries, being the largest brewer in the country, maintained its stance in terms of generating profits year-on-year. The company emerged as the only brewer to record a profit of N7.37 billion from its operations in 2020, 54.3% lower than 2019 figures (N16.1 billion).
  • From this, the leading brewer was able to pay shareholders a total dividend of N7.5 billion, translating to a dividend of 94 kobos per share – a dividend payout in which exceeds 100%.
  • While Guinness and International Breweries made a loss of N12.6 billion and N24.9 billion respectively, this reality impacted their ability to pay their shareholders dividends in 2020.

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Business News

Highest paid Nigerian bank MD/CEOs of 2020

Bank MD/CEOs in Nigeria earned a combined N1.5 billion in salaries in 2020.

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The banking sector, especially commercial banks, is one of the most profitable sectors of the Nigerian Economy churning out profits of close to a trillion in 2020 alone. They are also one of the highest employers of labours in the country employing over 93,000 Nigerians.

Sitting at the helm of affairs is the Chief Executive/Managing Director, the highest-ranking executive in the organization saddled with the responsibility of making the best corporate decisions, oversight of the execution of the organisation’s corporate strategies and most importantly increasing the shareholders’ return. The buck basically stops on their table.

Thus, these enormous responsibilities also come with a considerable executive compensation for their service making them ostensibly the highest-ranking staff of the bank.

READ: Jim Ovia: From a clerk to founder of Nigeria’s most profitable bank

In typical Nairametrics fashion, we bring to you a list of the highest-ranking bank CEOs for 2020 based on their executive compensation (exec comps). The bank MD/CEOs under our review earned over N1.5 billion in salaries in 2020.

The data was sourced from the published audited accounts of the bank and verified by Nairametrics Research.

 

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