Champion Breweries stocks rallied high at the mid-week trading session at the Nigerian Stock Exchange.
The medium capitalized stock is up at about 10% at press time on reports suggesting Heineken B.V, the majority core investor in Nigerian Breweries Plc and Champion Breweries Plc, might soon launch a full takeover bid for the minority shares in Champion Breweries.
What you should know: At press time, the Brewery stock was trading at N1.12 hitting it’s 52 weeks high, thereby printing a gain of 9.80%, and having a market valuation of about N8 Billion.
Recent data and regulatory filings retrieved from the Nigerian Stock market revealed Heineken, through its wholly-owned Nigerian subsidiary, Raysun Nigeria Limited, acquired N4.95 billion shares from investors to increase its Shareholding in the Akwa Ibom State-based Champion Breweries.
Veteran talk-show host, Larry King dies at 87
Legendary longtime CNN talk show host, Larry King is dead.
Larry King, the multiple award-winning TV and radio host has died at the age of 87.
King who had a long-running show on CNN, Larry King Live was a household name for his many interviews with political leaders, celebrities and newsmakers.
King’s death was announced on his official Twitter handle stating that he passed on Saturday morning at Cedars-Sinai Medical Center in Los Angeles, California, USA.
The statement read in part:
“With profound sadness, Ora Media announces the death of our co-founder, host and friend Larry King, who passed away this morning at age 87 at Cedars-Sinai Medical Center in Los Angeles.
“For 63 years and across the platforms of radio, television and digital media, Larry’s many thousands of interviews, awards, and global acclaim stand as a testament to his unique and lasting talent as a broadcaster.”
— Larry King (@kingsthings) January 23, 2021
The statement did not however, reveal the cause of death, but sources say King was hospitalised for COVID-19 in early January.
Since the news broke, friends, colleagues and admirers have taken to different social networks to express their sadness and condole with the family of the celebrated broadcaster.
What you should know about Larry King
- King rose to fame in the 1970s with his radio programme The Larry King Show, on the commercial network Mutual Broadcasting System.
- He hosted the Larry King Live on CNN for 25 years, between 1985 and 2010, carrying out more than 30,000 interviews, including every sitting president from Gerald Ford to Barack Obama.
- King also wrote a column for the USA Today newspaper for over 20 years.
- After leaving CNN, King hosted another programme, Larry King Now, broadcast on Hulu and RT, Russia’s state-controlled international broadcaster.
53,460 3G and 4G Base Transceiver Stations (BTS) deployed in Nigeria – Prof. Danbatta
The 3G and 4G base transceiver stations deployed in Nigeria in the last 5 years increased from 30,000 to 53,460.
A total of 53,460 third-generation (3G) and fourth-generation (4G) base transceiver stations (BTS) have been deployed in Nigeria in the last five years.
This was disclosed by the Executive Vice Chairman of Nigerian Communications Commission (NCC), Prof. Umar Danbatta at a briefing session for the new Permanent Secretary of the Federal Ministry of Communications and Digital Economy, Engr. Festus Yusuf Daudu.
According to Danbatta, the effective regulatory regime put in place by his leadership has created the desired impetus for the increased deployment of infrastructure by various telecoms operators, which in turn, has helped to improve the broadband penetration and other related service delivery in the telecoms industry.
“The BTS, fibre optic cables and other related infrastructure are central to the provision of improved service experience for Nigerians by their respective telecoms service providers.
“The licensed Infrastructure Companies (InfraCos) are also expected to add 38,296km to optic fibre cables when they commence full operations.”
What they are saying
According to Prof Danbatta:
- “The Commission will continue to put in its best in the discharge of its mandates, especially in facilitating the deployment of broadband, which is central to diversifying the Nigerian economy and national development”
- “Also, it is our belief that the communications industry, under the leadership of the Ministry of Communications and Digital Economy, will experience more quantum leaps and retain its current leadership role in the telecommunications space”
In his reaction and comment, the new Perm Sec, Engr. Festus Yusuf Daudu said:
- “I want to thank NCC for its contribution to the Nigerian economy so far. I am not exaggerating about the achievements of NCC, in terms of contribution to GDP and how NCC’s effective regulatory role has been helping the economy in so many ways”
What you should know
- The BTS system is part of a GSM network that is responsible for the reception and transmission of radio signals from mobile phones.
- A Base Transceiver Station is a general description of equipment consisting of the telecommunication technology and the air interface of the mobile network (GSM, UMTS etc.).
- The deployment of the 3G and 4G base transceiver stations (BTS) increased from 30,000 to 53,460, in the last 5 years
- While the Fibre Optic Transmission cables expanded from 47,000km to 54,725km
- As at November, 2020, active telephony subscribers stood at 208 million with tele-density standing at 108.92%
- Active Internet subscriptions of 154.9 million were achieved with broadband penetration rate of 45.07%
- The number of subscriptions to DND service hit over 30 million as the service empowers Nigerians to be able to protect themselves from the menace of unsolicited text messages and calls.
Why this matters
Having more Base Transceiver Stations (BTS) is quite imperative for driving an improved broadband/telecoms service delivery to Nigerian subscribers.
The poor services currently experienced by many telephony subscribers, especially in areas not sufficiently covered by Base stations, will now be a thing of the past as even subscribers in the remotest rural areas can conveniently receive and make calls and as well as enjoy other subscription services, without hitches.
Nigeria’s Qua Iboe crude exports resume as ExxonMobil lifts force majeure
ExxonMobil has lifted a force majeure on Nigeria’s Qua Iboe crude oil exports as production resumes.
ExxonMobil has lifted a force majeure on Nigeria’s Qua Iboe crude oil export terminal, as crude exports resume for the first time in almost six weeks after a fire at the terminal halted operations.
This is according to a company spokesman yesterday, who confirmed the company had lifted force majeure on Qua Iboe crude loadings.
Qua Iboe production started to ramp up to normal levels of 200,000 b/d in the past week, according to sources, with the release of both the February and March loading programs.
The VLCC Dalia was also in the process of loading a 1-million-barrel stem at the Qua terminal since January 21, 2021, according to data intelligence firm Kpler. This will be the first export of Qua Iboe since December 15, 2020, after a fire hit the facility and injured two workers.
The company has been under pressure since the closure and prices have taken a hit as a result of the disruption. S&P Global Platts last assessed the grade at a discount to Dated Brent of 50 cents/b, down from a premium against the benchmark in December.
Bonny Light, a mainstay Nigerian crude which typically trades at roughly the same level as Qua Iboe, was last assessed 30 cents/b higher.
What they are saying
One trader said: “If you get a cargo of Qua now it could be 50 cents to a dollar below Bonny even – a January cargo is completely out of cycle and the reliability issues mean people won’t touch it.”
Another trader stated that: “[The return of Qua Iboe] is not what West African crude assessments (WAF) differentials needed.”
What you should know
- Qua Iboe is one of Nigeria’s largest export grades, and is very popular among global refiners, with India, the US, Canada, Italy, Spain, Indonesia, and the Netherlands being key buyers.
- Qua Iboe is light sweet crude, which has a gravity of 36 API and sulfur content of 0.13%. The crude, produced from fields 20-40 miles off the coast of southeast Nigeria, is brought to shore at the Qua Iboe terminal via a seabed pipeline system.
- Indian demand has steadied following a buying spree late last year, and European demand has been hit by renewed coronavirus lockdowns in the region.
- Prices for Nigerian crude have suffered in recent weeks, even with lower supply due to the outage.
- February and March loading programs have been issued for Qua Iboe averaging 169,643 b/d and 153,226 b/d respectively.
- Production of this key grade ranged between 180,000-220,000 b/d in 2020, according to S&P Global Platts estimates.