Brands/Products
Savannah Petroleum Rebrands to Savannah Energy
By Dipo Olowookere
The management of Savannah Petroleum Plc has announced the change of name of the company to Savannah Energy Plc.
The rebranding, according to a statement issued by the firm, was done to majorly reflect its asset portfolio and business model development in recent times.
Savannah Energy is a British independent oil and gas company focused around activities in Nigeria and Niger.
As a result of the change, trading in the company’s shares on AIM will commence under the new name Savannah Energy PLC and the company’s ticker will change to SAVE with effect from 8am of Monday, April 20, 2020.
Also, the company’s International Securities Identification Number (ISIN) and the stock exchange daily official list will now be SEDOL.
Savannah Energy is now a leading energy producer in Nigeria and, via its controlling interest in the Accugas midstream business, the company currently provides gas to power stations accounting for over 10 percent of Nigeria’s power generation capacity and operates one of the largest privately-owned gas transportation and distribution system in sub-Saharan Africa.
In Niger, Savannah Energy is focused on developing its flagship assets in the prolific Agadem Rift Basin, with plans to deliver first oil in the near term.
Commenting on the latest development, the Chief Executive Officer of Savannah Energy, Mr Andrew Knott, stated that, “The name change to Savannah Energy is reflective of the asset portfolio and business model development that we have seen over the course of recent years.
Mr Knott added that, “Savannah is now a major supplier of gas for domestic power projects in Nigeria and we expect to be able to strongly grow this business over the course of the coming years in a similar manner to our plans for our business in Niger.”
Brands/Products
AliExpress Accepts Verve Cards for Payment From Nigerian Shoppers
By Modupe Gbadeyanka
Nigerian shoppers who use one of the world’s largest online retail platforms, AliExpress, can now pay for the items with their Verve cards, Business Post has learned.
This has been made possible because of a partnership between the e-commerce platform and the leading domestic payments card scheme and token brand, Verve International.
It was gathered that the collaboration empowers Verve cardholders, both locally and internationally, to engage in cross-border transactions.
It also reinforces Verve’s unwavering commitment to delivering inclusive, innovative, and secure digital payment solutions that empower individuals and businesses alike, while bridging the gap in global digital commerce.
With AliExpress joining this network and Verve integrated into its payment options, Verve cardholders can easily shop and pay for a wide range of products.
To shop on AliExpress using a Verve card, users need to simply sign in, select the items to buy, and click ‘Buy now.’ When prompted, add a new card and enter the Verve card details. Save the information for future use, confirm the details, and complete the payment seamlessly.
“We are excited to announce that Verve is now accepted on AliExpress, a globally recognised e-commerce leader.
“This marks a significant milestone in our global expansion journey, reflecting our commitment to providing cardholders with access to more possibilities in today’s digital economy.
“The addition of AliExpress to our growing network is just the beginning, there’s much more to come as we continue to innovate, expand, and deliver value to millions of Verve cardholders in Nigeria and beyond,” the Managing Director of Verve International, Mr Vincent Ogbunude, said.
Verve’s expanding global network is bolstered by partnerships with renowned brands such as Google, YouTube, Netflix, Amazon Prime, Facebook, Uber, Spotify, among others, enabling cardholders to conveniently pay for subscriptions in Naira.
These alliances solidify Verve’s position as a trusted leader in the digital payments space, ensuring that consumers can access top-notch services across diverse industries.
Brands/Products
FCCPC Raises Alarm Over Low-Quality Brazilian Sugar in Nigerian Markets
By Adedapo Adesanya
The Federal Competition and Consumer Protection Commission (FCCPC) has raised alarm about low-quality sugar from Brazil in the Nigerian markets.
In a statement signed by the Director of Corporate Affairs, Mr Ondaje Ijagwu, the consumer protection agency said it uncovered the availability of substandard and unregistered sugar products in Nigerian markets, particularly smuggled brands from Brazil, including Grupo Moreno, Terous, USI S. Joao, Alvean and Arapora Bionergia.
The products failed to meet mandatory Vitamin A fortification requirements, posing serious health risks to consumers, undermining the integrity of the local sugar industry, and contributing to price manipulation that harms the market.
Acting on a tip-off, FCCPC operatives conducted discreet investigations across the country, particularly in the South-West and the North-East.
The investigations revealed that many of the identified sugar products lacked normal labelling, including production and expiry dates, batch numbers, and the mandatory National Agency for Food and Drug Administration and Control (NAFDAC) registration.
“Even more concerning, most of the products were not fortified with Vitamin A, a critical nutrient essential for good vision, immune health, and overall well-being.
“The absence of this fortification exposes Nigerian consumers to serious health risks, including blindness and increased susceptibility to infections, particularly among vulnerable groups such as children and pregnant women,” the statement added.
The FCCPC also lamented concerns about the economic impact of these products, noting that the influx of smuggled sugar undermines fair competition, placing undue pressure on compliant local producers who adhere to regulatory standards.
The body warned that importers of these substandard products engage in price manipulation to the detriment of genuine producers and consumers while pretending that the products are genuine.
“This jeopardises the sustainability of the Nigerian sugar industry and also erodes consumer trust in the market,” the statement added.
The FCCPC also warned that smuggling, facilitated through porous borders, particularly from neighbouring countries such as Cameroun and the Benin Republic, further complicates enforcement efforts and hampers traceability.
FCCPC also reassured the general public that it is taking decisive steps to address this issue consistent with the provisions of the Federal Competition and Consumer Protection Act (FCCPA) 2018.
“The Commission charged Nigerian consumers to verify the authenticity of sugar products by ascertaining they carry proper labelling, including NAFDAC registration and evidence of Vitamin A fortification.
“The FCCPC is intensifying enforcement and surveillance in collaboration with NAFDAC, the Nigeria Customs Service, and other relevant agencies. These efforts include enhanced surveillance and follow-up market inspections to disrupt the supply chain of smuggled sugar products.
“The FCCPC is also engaging with industry stakeholders to promote compliance with quality standards, protect local producers, and foster fair competition within the sugar market,” it added.
Brands/Products
GOtv Extends Golden Window to Customers for Festive Season
MultiChoice Nigeria, the leading pay-TV service provider, has announced the extension of the Supa Plus Golden Window for the festive season.
Customers can continue to enjoy the GOtv Supa+ package at the discounted price of N13,900 instead of the regular N15,700.
The Executive Head of Marketing for West Africa at MultiChoice, Tope Oshunkeye, stated that the extension of the Golden Window is in line with making entertainment accessible to every home during the festive season.
“By extending the Golden Window, we’re allowing our valued customers to enjoy premium entertainment at a discounted price and create an immersive and delightful experience for families to enjoy together while creating memorable moments”. It’s part of our bigger goal this festive season; to make it a good season for everybody.
In addition to the extension of the Golden Window, GOtv also has an exciting lineup of shows on Africa Magic Showcase to keep viewers entertained throughout the festive season.
Running throughout the festive season, to January 11th, the lineup features captivating titles such as The Jump and 10th Anniversary two new Africa Magic original movies.
The schedule for this season promises something for everyone to enjoy, with the launch of the Holiday channel and the exclusive Bovi Comedy Special – Christmas with Bovi, from December 24th to 26th. Rounding up the entertainment is a feast of football this season.
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