Economy
GROHE Picks 9 Awards at Iconic Awards 2017
By Modupe Gbadeyanka
Every year, the Iconic Awards recognize visionary buildings, innovative products, and sustainable communication in the sectors of architecture, construction, industry and production industry.
This year, GROHE, the world’s leading provider of sanitary fittings, has been announced as the winner of nine coveted awards in the categories “Product”, “Communication” and “Architecture”. The official award ceremony will be held on the 4th of October 2017 at BMW Welt in Munich.
Three “Best of Best” and four more Iconic Awards 2017 in the category “Product”
The GROHE Blue Home tap water system, the professional Concetto Professional kitchen tap and the Euphoria 260 shower head are each receiving a “Best of Best” Iconic Award 2017 in the “Product” category. At the touch of a button, the tap water system GROHE Blue Home delivers delicious filtered water chilled to the perfect drinking temperature in three options: sparkling, lightly sparkling or still, directly into your glass.
The system, which combines timeless design with innovative technology, consists of an elegant kitchen tap and a high-performance cooler with integrated filter.
This “private water source” will ensure you remain refreshed in the most sustainable and resource-saving way possible.
With its GrohFlexx and EasyDock M technology, the GROHE Concetto Professional kitchen tap is incredibly flexible and easy to use. The tap has a silicone hose with an integrated metal spring, allowing it to turn 360 degrees, and a button for easily switching between normal water flow and jet spray – perfect for washing dishes, rinsing vegetables and filling tall pots effortlessly.
With its 260mm diameter and three zone features, the Euphoria 260 shower head transforms showering into a soothing and custom-made experience. The users can change the flow of water to suit their mood, changing gradually from a powerful concentrated jet to a stimulating and invigorating stream to a full soft rain shower with a simple turn of the SmartControl panel.
In the category “Product”, GROHE is also receiving Iconic Awards this year for the tap collections Lineare and Essence Professional as well as for the concealed control element SmartControl Concealed and GROHE Sense and GROHE Sense Guard, the new water security system. With its clear lines, the Lineare series of faucets creates contours in your bathroom, while the Essence Professional tap line makes your work in the kitchen more efficient and more comfortable. The flush and minimalist designed control panel SmartControl Concealed can be controlled by an intuitive push button and turn knob technology. The innovative and smart water safety system consisting of Sense and SenseGuard detects and protects homes against water damage.
GROHE at the ISH 2017 – winner in the category “Architecture”
GROHE is receiving an Iconic Award in the category “Architecture” for its impressive booth at the ISH 2017 in Frankfurt am Main, the world’s leading trade fair for bathroom, building, energy, and climate technology, and renewable energy. With the slogan “WATER. INTELLIGENCE. ENJOYMENT.” GROHE presented itself as a pioneering market leader in the sector and showcased the digital controllability of water as an innovation in its own spectacular exhibition hall.
GROHE Architekturlösungen – winner in the category “Communication”
With its publication series “GROHE Architekturlösungen”, a supplement of the German construction magazine “DBZ Deutsche BauZeitschrift”, GROHE is receiving an Iconic Award in the category “Communication”. Each issue features a specific theme (e.g. hotels, office buildings, or care and nursing homes) that presents construction projects and the GROHE products incorporated therein. Also, they give answers to architectural questions. “GROHE Architekturlösungen” is one of the company’s central communication tools and its target audience consists of architects, professional planners, plumbing experts and theme-specific groups.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) is seeking a reduction in import duty exemptions, which rose to N34 trillion, limiting its ability to increase its revenue generation threshold.
The Comptroller-General of the Customs Service, Mr Adewale Adeniyi, disclosed that the value of import duty exemption certificate approvals increased to that level in 2025, describing the policy as one of the major factors restricting its revenue generation.
At an investigative session of the Senate Committee on Finance with revenue-generating agencies in Abuja on Monday, Mr Adeniyi explained that government fiscal policies have continued to impact the revenue-generating capacity of the Customs Service, both positively and negatively.
“The NCS would have generated significantly higher revenue over the years if not for government-approved import duty waivers and other external factors affecting collections,” he said.
He added that the Import Duty Exemption Certificate scheme, introduced in March 2020, accounted for about N34 trillion in approvals in 2025, with nearly 60 per cent covering duty-free importation of military hardware due to Nigeria’s prevailing security challenges.
Other government-backed duty waivers, he noted, covered the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment and medical supplies, industrial machinery and manufacturing inputs, as well as food import intervention programmes.
While acknowledging the impact of the waivers on Customs revenue, Mr Adeniyi argued that fiscal policy should not be assessed solely on the basis of revenue generation but also on its broader economic and social objectives.
He, however, urged the federal government to establish stronger monitoring mechanisms to ensure beneficiaries of duty waivers deliver the intended economic outcomes, including lower consumer prices, increased local production and improved healthcare access.
The committee also expressed displeasure over the absence of several heads of government agencies invited to the hearing, including the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Industrial Training Fund (ITF), and the Federal Medical Centre (FMC), Jabi.
The Chairman of the Senate Committee on Finance, Mr Sani Musa, warned that the affected chief executives must appear at the committee’s next sitting or face severe sanctions under the Senate’s rules.
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Conclusion
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By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.40 per cent on Monday, July 13, buoyed by buying interest in 11 Plc, Central Securities Clearing System (CSCS) Plc and UBN Property Plc, which offset the profit-taking in Food Concepts Plc, the parent company of Chicken Republic.
11 Plc gained N20.69 to end at N227.64 per share compared with last Friday’s price of N206.95 per share, CSCS Plc grew by N1.83 to N91.48 per unit from N89.65 per unit, and UBN Property Plc added 1 Kobo to sell at N1.81 per share versus N1.80 per share.
On the flip side, Food Concepts Plc depreciated by 24 Kobo to close at N2.45 per unit, in contrast to the preceding session’s N2.69 per unit.
As a result, the market capitalisation increased by N9.2 billion to N2.587 trillion from N2.578 trillion, and the NASD Security Index (NSI) improved by 15.33 points to 4,311.67 points from 4,296.34 points.
Yesterday, the volume of securities traded by investors surged by 615.9 per cent to 9.1 million units from the previous 1.3 million units, and the value of securities rose by 997.1 per cent to N320.4 million from the preceding session’s N29.2 million, while the number of deals decreased by 12.5 per cent to 28 deals from last Friday’s 32 deals.
At the close of trades, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 73.9 million units exchanged for N5.2 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
