Connect with us

Economy

AlikeAudience Recognised at the Marketech APAC 2024 Marketing Technology Awards

Published

on

Omnichannel data audience company wins for Best Customer Data Platform, Best AI Marketing Solution, and Best Mobile Marketing Solution

SUNNYVALE, USA & HONG KONG SAR – Media OutReach Newswire – 3 December 2024 – AlikeAudience, a company directly integrated with major demand side platforms and data marketplaces worldwide that provides premium omnichannel audience data to brands, has announced its victory in three categories at this year’s Marketech APAC Marketing Technology Awards.

award 2

The gala awards night, held in Singapore on November 28, awarded AlikeAudience for Best Customer Data Platform, Best AI Marketing Solution, and Best Mobile Marketing Solution.

“The AlikeAudience team is proud to be recognized by the Marketech APAC team, and the top panel of industry judges,” said AlikeAudience Managing Director Jeremy Lo. “We believe the AdTech industry, particularly in the key area of data utilization, will increasingly rely on AI-powered, privacy-compliant solutions. AlikeAudience is at the forefront of this advancement, providing platform and tech-agnostic solutions to meet industry needs.”

AlikeAudience offers bespoke demographic, interest, and app data, and has more than seven thousand audience segments in the US and APAC across the key sectors of FMCG, automotive, e-commerce, entertainment, travel, and hospitality.

The company assembles its audience data from a combination of location signals, app data, and demographic data and connects these data points with insights from market research to generate methodologies to deliver targetable segments for media activation.

Lo also said marketers in Asia must adapt their strategies for first, second, and third party data to effectively navigate diverse market dynamics and regulations.

“An innovative approach is essential to take advantage of technological advances,” Lo said. “With strong US coverage, AlikeAudience can apply global insights while localizing strategies to meet APAC advertisers’ data needs, helping future-proof their business.”

AlikeAudience was founded in Sunnyvale, California, in 2015, and operates in the US, Asia, and Australia.

Hashtag: #AlikeAudience

The issuer is solely responsible for the content of this announcement.

About AlikeAudience

AlikeAudience is a data science company focused on omnichannel data activation. We enable advertisers to seamlessly connect with their target audiences through AI-powered, future-proof data solutions. See more at

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

Economy

Chappal Finally Completes Take Over of Equinor Assets in Nigeria

Published

on

Chappal Energies

By Adedapo Adesanya

Chappal Energies has successfully completed the acquisition of Equinor Nigeria Energy Company (ENEC), a subsidiary of Norway’s Equinor ASA, following the announcement of the transaction in 2023.

The total value of the deal is estimated at up to $1.2 billion, with $710 million as the purchase price and the remainder made up of contingent payments.

Business Post reports that Equinor Nigeria confirmed the sale of ENEC, which holds a 54 per cent stake in the OML 128 oil and gas lease, to Chappal Energies in November 2023.

Now, the Mauritius-registered Chappal Energies has finally completed the acquisition of Equinor Nigeria Energy Company (ENEC).

The deal was completed on December 6, 2024.

Equinor Nigeria stated “As part of the transaction, all of Equinor’s assets in Nigeria have been transferred to Chappal Energies. Local employees will remain with the newly transferred company under its new ownership, marking a complete exit of Equinor from Nigeria.’’

The acquisition grants Chappal Energies control over Equinor, which holds a 53.85 per cent stake in the OML 128 oil and gas lease.

This includes a 20.2 per cent interest in the Chevron-operated Agbami oil field and the operatorship of OML 129.

Despite facing several months of delay, Nigerian regulators officially approved the transaction in November 2024. The deal, executed through Project Odinmim a special-purpose vehicle owned by Chappal Energies—was finalized in early December.

Under the terms of the agreement, Equinor retains no significant liabilities, except for certain contractual obligations to Chappal Energies as outlined in the transaction documents.

Equinor’s presence in Nigeria dates back to 1992, and over the last 30 years, the company has played a pivotal role in the development of the Agbami field, which is Nigeria’s largest deep-water oil field.

Since commencing production in 2008, the Agbami field has yielded over one billion barrels of oil, generating substantial profits for its partners and contributing significantly to Nigeria’s economy.

However, in January 2023, Equinor signalled its intention to divest its stake in the Agbami oilfield. At the time, the company had invested over $3.5 billion for its 20.21 per cent share in the field.

Despite its early successes, with 10 wells drilled and a 40 per cent discovery rate, production in Agbami has been declining in recent years, falling from 36,000 barrels of oil equivalent per day (boepd) in 2019 to 29,000 boepd in 2020.

Equinor’s decision to exit the Nigerian offshore sector is part of its broader strategy to focus on more profitable and strategically aligned assets.

The sale allows Equinor to optimise its international oil and gas portfolio, sharpening its focus on its core areas of operation.

Continue Reading

Economy

VAT Rises 14.2% to N1.78trn as CIT Slumps 28.2% to N1.77trn in Q3 2024

Published

on

VAT Nigeria Tax hike

By Adedapo Adesanya

Value Added Tax (VAT) payments made in Nigeria rose by 14.2 per cent in the third quarter (Q3) of 2024 to N1.78 trillion from the N1.56 trillion recorded in the second quarter (Q2) of 2024, according to the National Bureau of Statistics (NBS).

VAT is a consumption tax levied on goods and services, usually at each stage of production or distribution where value is added. In Nigeria, VAT is currently at 7.5 per cent as amended in the Finance Act of 2019.

A breakdown showed that local payments recorded were N922.87 billion, Foreign VAT Payments were N448.85 billion, while import VAT contributed N410.62 billion in Q3 2024.

However, on a year-on-year basis, VAT collections in Q3 2024 increased by 88 per cent from Q3 2023

On a quarter-on-quarter basis, human health and social work activities recorded the highest growth rate with 250.4 per cent, followed by the activities of households as employers, undifferentiated goods- and services-producing activities of households for own use with 102.1 per cent.

On the other hand, water supply, sewerage, waste management and remediation activities had the lowest growth rate with a negative 41.9 per cent drop, followed by activities of extraterritorial organizations and bodies with 36.1 per cent.

In terms of sectoral contributions, the top three largest shares in Q3 2024 were manufacturing with 22.2 per cent; information and communication with 20.9 per cent; and mining & quarrying activities with 18.9 per cent.

Nevertheless, the NBS data showed that activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.01 per cent, followed by activities of extraterritorial organizations and bodies with 0.01 per cent and water supply, sewerage, waste management, and remediation activities with 0.03 per cent.

In a related development, Company Income Tax (CIT) for the quarter under review was reported at N1.77 trillion, indicating a slump of 28.2 per cent on a quarter-on-quarter basis from N2.47 trillion in Q2 2024. However, on a year-on-year basis, CIT collections in Q3 2024 increased by 1.37% from Q3 2023.

CIT refers to taxes imposed on the profit of companies domiciled in the country. It is charged on net profit after other expenses and deductions have been removed from the revenue.

Local payments received in Q3 were N920.91 billion, while Foreign CIT Payment contributed N852.29 billion in Q3 2024.

On a quarter-on-quarter basis, electricity, gas, steam and air conditioning supply recorded the highest growth rate with 47.5 per cent, followed by public administration and defence and compulsory social security with 19.3 per cent.

On the other hand, accommodation and food service activities had the lowest growth rate as it receded by 73.3 per cent, followed by financial and insurance activities with a 70.0 per cent slide.

In terms of sectoral contributions, the top three largest shares in Q3 2024 were manufacturing with 25.5 per cent, followed by mining and quarrying with 18.4 per cent; and information and communication with 15.1 per cent.

Nevertheless, the activities of households as employers, undifferentiated goods- and services-producing activities of households for own use recorded the least share with 0.004 per cent, followed by water supply, sewerage, waste management, and remediation activities with 0.03 per cent and Activities of extraterritorial organizations and bodies with 0.08 per cent.

Continue Reading

Economy

Nigerian Stocks Attract N87.749bn in One Week

Published

on

Nigerian Stocks1

By Dipo Olowookere

About N87.749 billion was staked on 3.893 billion Nigerian stocks last week executed in 43,868 deals, according to data obtained from the Nigerian Exchange (NGX) Limited.

Business Post reports that the trading value was higher than the preceding week as the bourse recorded a turnover of 3.194 billion shares valued at N54.850 billion completed in 45,112 deals.

The financial services industry led the activity chart with 2.709 billion equities worth N51.027 billion traded in 20,017 deals, contributing 69.58 per cent and 58.15 per cent to the total trading volume and value, respectively.

The consumer goods space recorded the sale of 403.658 million shares worth N3.844 billion in 4,239 deals, and the industrial goods sector traded 198.360 million stocks valued at N10.328 billion in 4,606 deals.

FBN Holdings, Wema Bank, and Fidelity Bank accounted for 1.625 billion shares worth N28.982 billion in 3,226 deals, contributing 41.74 per cent and 33.03 per cent to the total trading volume and value, respectively.

Last week, 51 equities appreciated versus 32 equities of the previous week, 30 shares depreciated versus 46 shares of the preceding week, and 72 stocks closed flat versus 75 stocks of the earlier week.

Golden Guinea Breweries gained 45.95 per cent to trade at N5.40, Sunu Assurances improved by 29.49 per cent to N5.05, Lafarge Africa rose by 27.59 per cent to N74.00, Secure Electronic Technology expanded by 27.27 per cent to 70 Kobo, and Cornerstone Insurance jumped by 25.00 per cent to N3.20.

Conversely, Learn Africa shed 11.75 per cent to N2.93, Aradel Holdings declined by 10.06 per cent to N465.00, eTranzact lost 10.00 per cent to sell for N6.75, Red Star Express also waned by 10.00 per cent to N4.41, and John Holt slumped by 9.98 per cent to N8.03.

On a week-on-week basis, the All-Share Index (ASI) and the market capitalisation appreciated by 0.72 per cent to 98,210.75 points and N59.534 trillion, respectively.

Similarly, all other indices finished higher with the exception of NGX Main Board, growth and sovereign bond indices, which depreciated by 0.39 per cent, 0.15 per cent, and 0.06 per cent, respectively, while the ASeM index closed flat.

Continue Reading

Trending