Economy
Phillips Consulting Rebrands for Better Services
By Modupe Gbadeyanka
Foremost indigenous management consulting firm, Phillips Consulting, has undergone a change to serve its clients better and effectively.
At the October edition of the Nigeria South Africa Chambers of Commerce breakfast meeting at Eko Hotel & Suites, Victoria Island, Lagos on Wednesday, the company unveiled its new brand identity.
Also, chairman of the Phillips Consulting group, Mr Foluso Phillips, presented to the business community the new Managing Director of the firm, Mr Robert Taiwo, who has been overseeing its affairs since the beginning of the year.
Speaking on the change of logo by the firm, Mr Taiwo explained that “we wanted to refresh our brand, whilst not taking it away from the strong name reputation we have built over the years.
“Mr Phillips also wanted to create an identity that would begin to separate him from the institution he has built by de-emphasising his name and changing the name to PCL, which also created the flexibility to do more exciting things beyond the label of consulting.”
The MD, since taking the reign of leadership, has designed and managed the transformation initiatives taking place at Phillips Consulting and revised the firm’s strategy for the future.
He further explained that the new major service offerings of the firm will be in Strategy and Operations Transformation, Digital and Technology Consulting and People Transformation.
“At Phillips Consulting, we are inspired by the challenge of transformation and passionate about the power of people. We have a people focused approach to driving organisational transformation and have been doing this since the inception of the firm. Now we are going to take it to another level,” Mr Taiwo added.
Whilst Mr Phillips has rapidly stepped down from the operational activities of the firm, he will continue to see to the internal development of the company’s consultants and focus on executive capacity building and mentoring.
Mr Phillips commented that “we are quite excited at this new phase in the life of our 26 year old firm. It is personally refreshing for me, to see my vision of building a sustainable institution to outlive us all, becoming a reality.
“With Rob at the helm of affairs and his redefinition of the firm as personified by a simple but refreshed brand image, I feel that a new generation is being truly born at Phillips Consulting. I believe there are exciting times ahead for us and our innumerable clients”
Business Post reports that Mr Taiwo is a qualified lawyer with an MBA in Strategy and Change Management from Warwick Business School.
He started his career in Investment Banking spending 7 years at Commerzbank AG in the City of London. Thereafter, Robert moved to Capgemini Consulting to help build their Financial Services business in the UK.
As a consultant, he led numerous high-profile assignments for FTSE 100 companies, leading multinationals and the British Government.
Mr Taiwo has consulted for HSBC, Bank of Ireland, British Petroleum, SAB Miller, British American Tobacco, Her Majesty’s Revenue & Customs, Department for Works & Pensions, The UK Cabinet Office, The Lagos State Government, The Commonwealth Secretariat, Diageo (Guiness Nigeria) amongst others.
Phillips Consulting is a 26 years old indigenous management consulting firm, founded by Mr Foluso Phillips during the era of the new generation banks. He launched and propagated the philosophy and concept of Total Quality Management to the Nigerian Business community.
It was also during this period that Foluso Phillips led the first delegation and a series thereafter of business and corporate leaders to South Africa on various business, education and executive missions.
Phillip Consulting was one of the first Nigerian companies to set up shop in South Africa, after the country’s free elections in 1994. Since then, the firm has been involved in numerous initiatives between the two countries.
By Dipo Olowookere
The three major partners of the Dangote Refinery in the Lekki area of Lagos, MRS Oil Nigeria, Heyden and Ardova Plc, will retail premium motor spirit (PMS), otherwise known as petrol, at its stations across the country at N970 per litre.
This information was revealed by Dangote Refinery, owned by one of Africa’s richest businessmen, Mr Aliko Dangote.
The three independent oil marketers entered into a bulk-purchasing agreement with the oil facility, which has the capacity to refinery about 650,000 barrels of crude oil per day.
The deal, first sealed by MRS Oil, ensured that it retailed fuel at its petrol stations at N935 per cent litre.
However, last week, Dangote Refinery increased its ex-depot price from N899.50 per litre to N950 per litre due to a rise in the price of crude oil to $80 per litre in the global market from about $72 per barrel.
In a statement on Sunday made available to Business Post, Dangote Refinery said, “All our partners, including Ardova, Heyden, and MRS Holdings, will offer petrol to Nigerians at a retail price of N970 per litre nationwide.
“We have absorbed the increased logistics costs to guarantee uniform pricing across the 36 states of the federation and the Federal Capital Territory (FCT).”
By Dipo Olowookere
A 0.17 per cent growth was recorded by the Nigerian Exchange (NGX) Limited on Friday, extending the stay of the local bourse in the positive territory.
This uptrend was maintained despite profit-taking in the banking sector, which left its index down by 0.23 per cent at the close of trading activities.
Business Post reports that the insurance industry expanded by 4.04 per cent during the session, the energy counter improved by 1.05 per cent, and the consumer goods space gained 0.58 per cent, while the industrial goods sector closed flat.
Consequently, the All-Share Index (ASI) went up by 170.62 points to 102,353.68 points from 102,183.06 points and the market capitalisation grew by N541 billion to N62.851 trillion from N62.310 trillion.
There were 34 price gainers and 22 price losers yesterday, indicating a positive market breadth index and strong investor sentiment.
The trio of Caverton, Livestock Feeds and Sovereign Trust Insurance appreciated by 10.00 per cent each during the session to quote at N2.20, N5.94, and N1.10, respectively, as Neimeth jumped by 994 per cent to N3.43, and Royal Exchange increased by 9.88 per cent to 89 Kobo.
On its part, Academy Press lost 9.74 per cent to close at N3.15, PZ Cussons declined by 9.09 per cent to N25.00, DAAR Communications weakened by 8.64 per cent to 74 Kobo, Transcorp Power shed 5.91 per cent to settle at N46.95, and Dangote Sugar fell by 4.94 per cent to N38.50.
A total of 327.8 million shares valued at N11.8 billion were traded in 11,905 deals on Friday versus the 472.2 million shares worth N16.7 billion transacted in 12,336 deals on Thursday, representing a decline in the trading volume, value, and number of deals by 30.58 per cent, 29.34 per cent and 3.49 per cent apiece.
Access Holdings recorded the highest sales with 49.1 million stocks sold for N1.2 billion, Fidelity Bank exchanged 20.4 million shares valued at N359.0 million, UBA traded 20.1 million equities worth N681.0 million, Oando transacted 14.8 million shares for N998.1 million, and Universal Insurance traded 13.8 million stocks worth N8.7 million.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange extended its upward movement with a 0.26 per cent gain on Friday, January 17 amid renewed interest in unlisted stocks.
This raised the market capitalisation of the trading platform by N2.79 billion at the close of business to N1.075 trillion from the N1.072 trillion it closed in the preceding session.
In the same vein, the NASD Unlisted Security Index (NSI) went up by 8.08 points at the close of transactions to 3,111.91 points from the 3,103.83 points recorded at the previous session.
Yesterday, the volume of securities traded by investors went down by 606 per cent to 486,215 units from 1.2 million units, the value of shares shrank by 84.7 per cent to N2.8 million from N18.0 million, and the number of deals decreased by 65 per cent to 14 deals from the 33 deals carried out a day earlier.
In the final trading day of the week, there were three price gainers and one price loser, Geo-Fluids Plc, which lost 9 Kobo to finish at N4.70 per unit versus the preceding session’s price of N4.79 per unit.
On the flip side, Okitipupa Plc gained N3.60 to settle at N39.59 per share compared with the previous day’s N35.99 per share, Industrial and General Insurance (IGI) Plc added 3 Kobo to wrap at 36 Kobo per unit compared with the preceding session’s 33 Kobo per share, as FrieslandCampina Wamco Nigeria Plc improved its value by 49 Kobo to N39.65 per unit from N39.16 per unit.
At the close of business, FrieslandCampina Wamco Nigeria Plc remained the most active stock by value (year-to-date) with 3.4 million units worth N134.9 million, trailed by Geo-Fluids Plc with 8.9 million units valued at N43.0 million, and Afriland Properties Plc with 690,825 sold for N11.1 million.
The most active stock by volume (year-to-date) remained IGI Plc with 23.5 million units worth N5.3 million, followed by Geo-Fluids Plc with 8.9 million units valued at N43.0 million, and FrieslandCampina Wamco Nigeria Plc with 3.4 million units sold for N134.9 million.
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