Economy
ADVAN Marks 25th Anniversary with ‘The Power of Story Telling’
By Dipo Olowookere
A series of weeklong activities have been announced to market the 25th anniversary of the Advertisers Association of Nigeria (ADVAN).
These activities will herald in the ADVAN marketing excellence awards slated for November 18, 2018.
The anniversary theme, The Power of Story Telling, gives the leading marketing association in Nigeria and its members the opportunity to emphasize on the strategic importance of storytelling in nation building and driving economic growth, a role they have played so well over the last 25 years.
In a statement in Lagos, President of ADVAN, Mrs Folake Ani-Mumuney, said marketing communications’ contribution to the growth of commercial activity in Nigeria was clear and quite commendable and should be celebrated.
According to her, with a total advertising budget in excess of N88 billion in 2017 as reported by Media Monitoring Services, the growing impact of the Nigerian organized private sector, both listed and non-listed on the stock exchange cannot be ignored.
“Successes recorded by these businesses cannot be complete without marketing communication, which is a key function driving visibility and market penetration,” she noted.
Further, Mrs Ani-Mumuney revealed that ADVAN Executives have been given the rare privilege to visit the Nigerian Stock Exchange (NSE) and Ringing of the Market Closing Bell as an attestation to the significant role ADVAN plays in the Nigerian economy classified as the biggest economy in Africa.
Speaking on the ADVAN Marketing Excellence Awards, the ADVAN President reiterated that the award is an opportunity to showcase brands that have been able to tell interesting stories through compelling narrative enabling them achieve extraordinary success from innovative and effective marketing practices.
She said this year’s theme is well thought out to resonate with what Nigerian brands stands for over the last 25 years and this was a deciding factor in choosing multiple award winning Producer and Director, Mr Femi Odugbemi, as keynote speaker.
“The ADVAN Awards for Marketing Excellence is undoubtedly the most respected Awards for Marketing Excellence in Nigeria, it has evolved over the years in response to new developments in marketing theory and practice to reflect the growing appreciation of the critical role of marketing as the vital source of value creation for business,” she said.
Mrs Ani-Mumuney further said the ADVAN Awards “provides the opportunity for organizations to gain competitive advantage by having their projects, initiatives, contributions, products and services recognized. The Awards is the ultimate platform for improving brand awareness, loyalty, retentions and prestige. The ADVAN Awards winners are acknowledged as industry leaders and named the elite in their industry.”
Mrs Ani-Mumuney announced that Mr Arjan Mirchandani, Chairman Sona Group of Industries, will be the Chairman for the 2018 Award.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.64 per cent increase on Monday, May 12, with its total value rising by N12.46 billion to N1.947 trillion from the N1.935 trillion quoted at the preceding session, as the NASD Unlisted Security Index (NSI) went up by 21.28 points to 3,326.06 points from 3,3204.74 points.
The expansion recorded during the first trading session of the week was influenced by price appreciation in the shares of three companies admitted to the platform.
Central Securities Clearing System (CSCS) went up by N2.25 to trade at N24.85 per unit versus last Friday’s N22.60 per unit, FrieslandCampina Wamco Nigeria Plc improved its value by 40 Kobo to settle at N40.43 per share from the previous closing value of N40.03, per share, and Geo-Fluids Plc added 10 Kobo to end at N1.91 per unit, on contrast to the preceding session’s N1.81 per unit.
During the trading day, the volume of shares bought and sold by the market participants decreased by 99.7 per cent to 673,233 units from the 231.6 million units traded in the previous trading day, the value of securities transacted by investors moderated by 98.9 per cent to N6.3 million from N606.4 million, and the number of deals retreated by 38.6 per cent to 35 deals from 57 deals.
When trading activities finished for the day, the most active stock by volume on a year-to-date basis remained Impresit Bakolori Plc with a turnover of 534.0 million units worth N521.1 million, followed by Geo-Fluids Plc with 266.4 million units valued at N470.5 million, and Okitipupa Plc with 153.6 million units sold for N4.9 billion.
The most traded stock by value on a year-to-date basis also remained Okitipupa Plc with the sale of 153.6 million units for N4.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 20.0 million units valued at N768.5 million, and Impresit Bakolori Plc with a turnover of 534.0 million units worth N521.1 million.
By Adedapo Adesanya
The Naira closed stronger against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEX) by N9.35 or 0.58 per cent on Monday, May 12 at at N1,600.29/$1 compared with the N1,609.64/$1 it traded last Friday.
Similarly, the Nigerian Naira improved its value against the Pound Sterling in the official market during the trading session by N31.46 to settle at N2,114.02/£1 versus the preceding trading day’s rate of N2,145.48/£1 and appreciated against the Euro by N37.61 to sell for N1,780.81/€1, in contrast to the previous session’s value of N1,818.42/€1.
The improvement in the value of the local currency yesterday happened after a temporary relief from the US-China tensions and further commitments by the Central Bank of Nigeria (CBN) to intervene in the market.
However, the Nigerian currency depreciated against the Dollar in the black market on Monday by N5 to close at N1,630/$1 compared with the preceding session’s rate of N1,625/$1.
As for the cryptocurrency market, it was red during the trading session after the US and China agreed to suspend most tariffs on each other for 90 days.
The 90-day tariff pause gave market participants a “clear, short-term positive signal” that’s supportive for risk assets including crypto, even though headwinds could rise again without a broader deal in place once the pause expires.
According to market analysts, this is a temporary arrangement and volatility will likely return as the 90-day window approaches its end.
Dogecoin (DOGE) slumped by 6.6 per cent to sell at $0.2232, Cardano (ADA) fell by 3.0 per cent to $0.7890, Solana (SOL) went down by 2.1 per cent to $170.80, Ethereum (ETH) declined by 2.0 per cent to $2,451.16, Bitcoin (BTC) depreciated by 1.6 per cent to $102,394.53, and Binance Coin (BNB) shrank by 1.1 per cent to $648.78.
But, Ripple (XRP) gained 4.5 per cent to quote at $2.49, and Litecoin (LTC) increased its value by 1.7 per cent to $102.78, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
By Dipo Olowookere
The Minister of State for Finance, Ms Doris Uzoka-Anite, has advised global investors to quickly key into the federal government’s economic reforms so as not to bite their fingers later because of a missed opportunity.
Speaking during the Milken Institute Global Conference 2025 in the United States, she said the administration of President Bola Tinubu was implementing some initiatives designed to support the startup ecosystem.
She described Nigeria’s startup ecosystem as dynamic, with opportunities for investment in fintech, agritech, edtech, logistics, and health, assuring that the government is committed to supporting players in the sector through regulatory reforms, catalytic funding, and talent development.
According to her, the government is carrying out some necessary reforms to achieve its economic objectives, including streamlining the investment climate, improving infrastructure, and enhancing trade efficiency.
The Minister said the main aim of the administration is to position Nigeria as a hub for sustainable growth and innovation in Africa, urging investors to explore opportunities in the country.
Ms Uzoka-Anite emphasised that Nigeria is deepening intra-African trade and investment through the African Continental Free Trade Area (AfCFTA), unlocking value across the continent.
The AfCFTA’s phased implementation, she said, will reduce tariffs on 90 per cent of goods traded within Africa, promoting intra-African trade and regional value chain development.
This strategic move positions Nigeria for high-potential investment opportunities in key sectors such as agriculture, energy, digital economy, manufacturing, infrastructure, mining, and healthcare.
“We are not simply seeking aid or short-term capital, but strategic collaborations that recognize the continent’s potential as the next frontier for sustainable growth and innovation,” she said.
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