Brands/Products
Banks, Insurance Firms Prefer ThisDay, Business Day for Adverts—Survey
By Modupe Gbadeyanka
A survey conducted by Nigeria’s foremost PR Measurement and Evaluation agency, P+ Measurement Services, has indicated that two leading national newspapers were preferred for the placement of adverts in the third quarter of the year.
In the report made available to Business Post, it was revealed that ThisDay newspaper was the most sought after publication for banks, as BusinessDay newspaper was the most sought after publication for insurance companies in terms of placement of adverts in the media.
The study, based on the research data for advert and editorial analysis, had an error margin of 5 per cent at 95 per cent confidence level and in Q2 and Q3 2020, a total of 3,360 publications were monitored.
An analyst at the media intelligence agency remarked that this data-driven report is to provide rich insights into the media performance of brands in the banking and insurance industry, identify key areas where media exposure for these brands can be further strengthened.
He also encouraged brands to key into media monitoring and evaluation as part of their PR and Communications strategies to gain valuable media share as top players in their industries, which will contribute to driving brand loyalty and increase patronage for brands in a competitive business world.
From the report, the sampled data and platforms used were 21 commercial banks in Nigeria and leading insurance companies’ media data; 44 newspapers including magazines; online media publications consisting of blogs, forums, financial sites, insurance sites, online news-sites and brand sites.
The most engaged online publications for editorial in the banking industry for Q3 were Thisdaylive.com, Businessday.ng and Nairametrics.com, while Proshareng.com, Thisdaylive.com and Independent.ng were the most engaged online publications in the insurance industry for Q3.
Advert placement was sourced out more by the banking industry, with ThisDay, Leadership and BusinessDay topping the list of print publications with the highest earnings in the for Q3, while BusinessDay, The Punch and Daily Trust topped the list of print publications with the highest earnings in the insurance industry for Q3.
Findings from the Q3 report showed that the media engagement on Corporate Social Responsibility was led by Stanbic IBTC (46 per cent), Heritage Bank (24 per cent), Fidelity Bank (12 per cent), Union Bank (11 per cent) and Sterling Bank (7 per cent) and the insurance companies that ranked most on Corporate Social Responsibility includes Prudential Zenith Life Insurance (67 per cent), AIICO Insurance (20 per cent), and AXA Mansard Insurance (13 per cent).
The media intelligence report also indicated that the prominence of Chief Executive Officers of banks and insurance companies as Adesola Adeduntan of First Bank of Nigeria, Herbert Wigwe of Access Bank and Segun Agbaje of Guaranty Trust Bank led the Bank CEOs and Babatunde Fajemirokun of AIICO Insurance, Chuks Igumbor of Prudential Zenith Life Insurance and Kunle Ahmed of AXA Mansard Insurance led the insurance CEOs in Q3 2020.
The full report can be requested HERE
By Adedapo Adesanya
FoodCourt, a Nigerian cloud kitchen startup backed by Y Combinator, has suspended operations after months of unpaid salaries and mounting debts to vendors triggered a staff strike and forced the company to halt customer orders, according to a report by TechCabal.
The publication reported that customers first noticed on March 4 that they could no longer place orders through the FoodCourt app after the company disabled ordering as kitchen workers, delivery personnel and branch staff embarked on strike over unpaid wages. The company also owed outstanding payments to vendors.
By April 19, FoodCourt had temporarily shut its last operating branch after suspending activities across its Lagos and Abuja locations while seeking fresh funding and restructuring the business, according to the report.
The company’s chief executive, Mr Henry Nneji, said the decision to pause operations was not caused by a single issue but by a combination of operational, organisational and working-capital challenges.
“It’s important to clarify that the decision to pause operations wasn’t driven by one single issue. We reached a point where it became clear that continuing to patch those issues while operating wasn’t the right long-term decision,” he said.
“The objective is to build a stronger business than the one that existed before the suspension. We fully intend to bring FoodCourt back,” he added in an emailed response.
The company acknowledged outstanding obligations to employees, vendors, riders and service providers, but declined to disclose the number of affected workers or the total amount owed. It said efforts were underway to resolve the liabilities as part of its restructuring process.
It was also reported that the startup’s financial difficulties worsened after expansion into additional locations increased operating costs, while its cloud kitchen model came under pressure from rising labour, logistics, food and marketing expenses.
Despite the shutdown, Mr Nneji said FoodCourt intends to relaunch after completing its restructuring, adding that the company believes demand for its products remains strong.
Founded in 2021 by Henry Nneji and Paul Adokiye Iruene, FoodCourt operates cloud kitchens under multiple virtual restaurant brands through its consumer app. According to TechCabal, the startup had previously disclosed raising $1.7 million, delivering more than one million meals and reaching $4.3 million in annual recurring revenue by the end of 2024.
By Aduragbemi Omiyale
To further reinforce its commitment to continuous enhancement of customer experience through menu innovation and quality improvements, Chicken Republic, Nigeria’s leading quick-service restaurant brand and a flagship brand of Food Concepts Plc, has improved its Smokey Jollof recipe across restaurants nationwide.
As a customer-centric brand, Chicken Republic regularly evaluates consumer feedback, dining trends, and product performance to ensure its menu continues to deliver the quality and value to which customers have become accustomed.
The updated Smokey Jollof is part of this ongoing commitment to continuous improvement.
The refreshed recipe represents the latest evolution of one of the brand’s most popular offerings.
Developed with a focus on richer flavour, greater consistency and an even more satisfying eating experience, the improved Smokey Jollof reflects Chicken Republic’s dedication to meeting the evolving tastes and expectations of its customers.
“At Chicken Republic, our customers are at the heart of every decision we make. We are constantly listening, learning and looking for ways to improve the experience we deliver.
“The improved Smokey Jollof is a reflection of that commitment. We’ve refined the recipe to deliver an even richer, more enjoyable taste experience while maintaining the flavour profile our customers know and love,” the Managing Director of Food Concept, Mr Olumide Aniyikaiye, stated.
“Great brands evolve with their consumers. This update is not about changing what people love, but about making it even better.
“We are confident that customers will enjoy the improved recipe and appreciate the attention we continue to invest in delivering quality meals every day,” Mr Aniyokaiye added.
The improved Smokey Jollof is now available at Chicken Republic outlets nationwide, allowing customers to experience a more flavourful and consistent version of a fan-favourite menu item.
This latest enhancement underscores Chicken Republic’s broader commitment to innovation, quality and creating memorable meal experiences for customers across Nigeria.
By Adedapo Adesanya
The National Agency for Food and Drug Administration and Control (NAFDAC) said it has uncovered a warehouse stocked with expired baby wipes intended for illegal revalidation and sale to unsuspecting consumers.
In a statement shared on X (formerly known as Twitter) on Monday, the agency said the value of the products is estimated at N42 million.
The agency said during the operation, its officers discovered over 240 cartons of expired baby wipes that had already been revalidated and repackaged, alongside approximately 20,000 additional expired wipes, equivalent to 625 cartons, awaiting revalidation.
NAFDAC said one suspect was apprehended at the scene, while the warehouse was sealed and the products evacuated for further investigation.
“The distribution and use of expired baby wipes pose significant health risks, particularly to infants and young children, including skin irritation, skin infections, allergic reactions, worsening of eczema or dermatitis, and an increased risk of diaper rash due to the reduced effectiveness of preservatives that inhibit microbial growth.
“The seized products are valued at approximately N42 million.
“We reaffirm our commitment to protecting public health by preventing substandard and expired regulated products from re-entering the market.
“Members of the public are urged to remain vigilant and report suspicious activities involving regulated products to the nearest NAFDAC office or call 0800 1 623322,” it stated.
