Business
Google, Twitter and other tech giants to invest in Nigeria’s digital space
The Federal Government says major tech giants including Google, Facebook, Twitter, YouTube have shown interest in investing and exploring business opportunities in Nigeria’s digital space.
The Minister of Information and Culture, Alhaji Lai Mohammed said this in Epe, Lagos state at the 49th Annual General Meeting (AGM) of the Association of Advertising Agencies of Nigeria (AAAN).
He said that the giant tech and primary digital media platforms which had been exploring the country’s digital media space had been holding meetings with relevant government agencies.
Mohammed said the Federal Government was committed to exploring all the opportunities offered by the techies for the benefit of the people.
The minister said the theme of the AGM, ”The New World Order: Technology as a Game Changer”, was apt.
According to him, the realisation of the power of technology in brand communication necessitated the setting up of the Ministerial Task Team on Audience Measurement System.
He said audience measurement in broadcasting would give accountable and data-driven understanding of the impact of communication on consumer behaviour.
The minister charged relevant parties in the ministerial task team to complete the tasks in order to initiate the legislative processes necessary for the implementation of the audience measurement before the end of the present administration.
Besides audience measurement, the minister said government had given approval for the implementation of other reform initiatives of the Advertising Practitioners Council of Nigeria (APCON).
He said the reform would strengthen the advertising ecosystem, encourage inclusive growth as well as attract investment to the industry.
In his address of welcome, the President of AAAN, Mr Steve Babaeko, commended the minister for his untiring efforts toward repositioning the advertising ecosystem in Nigeria.
The Naira yesterday depreciated to N1,770 per dollar in the parallel market from N1,750 per dollar last weekend.
Similarly, the Naira depreciated to N1,675.62 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.
Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,675.62 per dollar from N1,652.62 per dollar last weekend, indicating N23 depreciation for the naira.
The volume of dollars traded (turnover) fell by 55.2 percent to $108.79 million from $243.05 million traded last week Friday.
Consequently, the margin between the parallel market and NAFEM rate widened to N117.38 per dollar from N97.38 per dollar last weekend.
The Nigeria National Petroleum Company Limited (NNPCL) has confirmed that the Port Harcourt Refinery in Rivers State has commenced crude oil processing.
The Chief Corporate Communications Officer of the compaanyy, Femi Soneye, broke the news on Tuesday.
Soneye revealed that the refinery will operate at 60 percent capacity and process 60,000bpd.
https://twitter.com/FM_Soneye/status/1861330633831620917?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1861330633831620917%7Ctwgr%5E776845f88f6fa6dd3c70082f4da1ee2632656999%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.vanguardngr.com%2F2024%2F11%2Fbreaking-port-harcourt-refinery-begins-crude-oil-processing%2F
“Today marks a monumental achievement for Nigeria as the Port Harcourt Refinery officially commences crude oil processing. This groundbreaking milestone signifies a new era of energy independence and economic growth for our nation,” Soneye said on Tuesday.
“Hearty congratulations to President Bola Ahmed Tinubu, the NNPC Board, and the exceptional leadership of GCEO Mele Kyari for their unwavering commitment to this transformative project. Together, we are reshaping Nigeria’s energy future!”
Soneye added that truck loading will commence on Tuesday (today), adding that the NNPCL is also “working tirelessly to bring the Warri Refinery back online soon”.
The National Bureau of Statistics (NBS) says Nigeria’s annual gross domestic product (GDP) grew by 3.46 percent in the third quarter (Q3) of 2024.
The NBS, in its GDP report published on Monday, said the growth rate is higher than the 3.19 percent recorded in Q2 2024.
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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
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