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Businessday 10 Oct 2018-1 NEWS YOU CAN TRUST I **WEDNESDAY 10 OCTOBER 2018 I VOL. 15, NO 158 I N300 @ g businessday market monitor NSE Bitcoin E verdon Bureau De Change FMDQ Close FOREIGN EXCHANGE TREASURY BILLS FGN BONDS - $43.9bn Foreign Reserve Market Spot ($/N) 3M 6M 5 Y 10 Y 20 Y Biggest Gainer Biggest Loser BUY SELL Cross Rates - GBP-$:1.31 YUANY-N52.77 ₦2,346,859.67 +0.79 pc -0.02 -0.12 Nestle Unilever $-N 358.00 361.00 I&E FX Window 364.27 -0.04 -0.30 -0.08 N1405 0.36 pc N42 -6.67 pc Commodities Powered by £-N 470.00 478.00 CBN Official Rate 306.45 12.75 13.13 14.97 15.17 15.07 Cocoa Gold Crude Oil 32,417.70 €-N 407.50 415.50 Currency Futures NGUS DEC 26 2018 NGUS MAR 27 2019 NGUS SEP 18 2019 US $2,102.00 $1,191.10 $84.58 ($/N) 364.27 364.72 365.62 FG to lose 29% of October earnings as subsidy overshadows oil rally Property prices LOLADE AKINMURELE & DAVID IBIDAPO seen dropping as igeria’s Federal politicians seek Government could lose as much as N67 billion to de- election funds fending a retail CHUKA UROKO Npetrol price of N145 per litre in October, according to Business- n the run up to Nigeria’s Day estimates. general elections in the first That is 29 percent of the Iquarter of 2019, property estimated N233.4 billion oil prices will go down further from earnings for all of October, the present levels, as it is expect- an unnecessary expense for a ed that the market will be receiv- country with a budget deficit ing more assets from politicians of N2 trillion. seeking quick funds to contest Oil’s march beyond $80 per barrel holds a mixed bag for Ni- Continues on page 38 geria. On the one hand, it boosts government revenue but on the other hand, it increases the cost Inside of subsidising petrol for busi- nesses and households. BusinessDay holds 2018 Continues on page 38 edition of CEO Forum P. 2 2 BUSINESS DAY C002D5556 Wednesday 10 October 2018 NEWS BusinessDay holds 2018 edition of CEO Forum MICHEAL ANI & BUNMI BAILEY The second panel features Chiedu Osakwue, Director-General (NOTN); usinessDay, Nigeria’s lead- Segun Osidipe, Director, Economics ing business newspaper is and Statistics, MAN; and Mauricio holding the 9th edition of its Alarcon, MD/CEO Nestle Nigeria. Annual CEO Forum on to- The second panellists will speak on Bday, (Wednesday October 10th) at the “Nigexit: Could Nigeria turn its back Civic Centre, Victoria Island, Lagos. on the continent. Dissecting views on The theme of this year’s Summit the African Continental Free Trade is “Leadership in Unfamiliar Terrain”, Area (AFCFTA) Agreement. and will feature top Chief Executive The third panellists will speak Officers in different countries of the on “Fortified Alpha: Recalibrating world and across all sectors within the Nigerian Capital Market for Re- and outside the country. silience and Outperformance”, with More than 25 CEO’s have been members including Isyaku Bala Til- confirmed to grace this year’s edi- de, Acting Executive Commissioner, tion, among whom are Abayomi Operations, Securities and Exchange Awobokun, CEO Enyo Retail and Commission; Mohammed Garuba, Supply, an oil and gas firm that is Partner, Cardinalstone Partners Lim- playing in the downstream sector ited; Mathias Althoff, Partner, Tundra and located in Lagos Nigeria. Founder SE; and will be moderated L-R: Maikanti Baru, group managing director, Nigerian National Petroleum Corporation (NNPC); Abdulsalami Chiedu Osakwe , Director- by Wole Famurewa, Anchor CNBC. Abubakar, former head of state, and Yakubu Gowon, former head of state, at the 2018 NNPC National Science General, Nigerian Office for Trade “Optimising Cost-to-Serve: Ex- Quiz Grand Finale, which Enugu State won in Abuja, yesterday. Ogun was second, followed by Edo. NAN Negotiation(NOTN), Bola Onadele, ecuting a winning retail strategy CEO FMDQ OTC securities, Bolaji amid shrinking customer wallets”, balogun, CEO Chapel Hill Denham, will be the topic that will be discussed Amy Jadesimi, CEO Ladol Free Zone, by the fourth panellist session. This Yemi Osindero, Managing Partner, session will see CEO,s within the R- Focus shifts to Air Peace Uhuru Investment Partners and commerce and retail space provide Georgios Polymenakos, Country insights on the workings in their sec- Manager, Coca-Cola Hellenic Bot- tor. These panellists include Abayomi tling Company to mention but a few. Awobokun, CEO Enyo Retail & Sup- financing, expansion model The 2018 edition CEO forum will ply; Georgios Polymenakos, Country kick-start exactly at 9:30 am, with an Manager, Coca-Cola Hellenic Bot- executive address from Mauricio tling Company; Juliet Anammah, IHEANYI NWACHUKWU & IFEOMA OKEKE The 737 MAX 8 is part of a family Tayo Ojuri, an industry expert Alarcon, MD/CEO Nestle Nigeria. CEO, Jumia; Kachi Onubogu, GED, of airplanes that offer 130 to 230 seats who spoke to BusinessDay lauded In addition to this address, the tropical General Investments; and ir Peace, one of Nige- and the capacity to fly up to 3,850 the airline for “doing well locally”. conference will also feature educat- will be moderated by Feyi Olubodun, ria’s domestic carriers, nautical miles (7,130 kilometers). Ojuri, who is the Chief Executive ing and informing panel discussions MD/CEO at Insights Publics. is just four years old this With improvements such as the Officer, Aglo Limited, an aviation from CEOs of the leading organisa- The last CEO’s on the panellist will October but the airline’s CFM International LEAP-1B engine support service said, “it is some- tions across strategic sectors of the be Amy Jadesimi, CEO LADOL Free expansion model has be- and Advanced Technology winglets, thing to be happy about, especially economy. Subsequently, the first Zone and Nnaeto Orauike, Group Acome a subject of study in the board the 737 MAX will help Air Peace save succeeding in an industry in which panel of discussants will speak on MD, Genesis. Both will hammer on the rooms of others that are still gasping more than 20 percent on fuel cost, many airlines have failed.” “Plastering the cracks: A conversa- topic “Business legacies that endure: for growth. compared to its current single-aisle He however thinks growth should tion on the state of road infrastruc- Passing the torch across generations”. In addition to sustainable source airplanes. be strategic and well planned. “It is ture in Nigeria’s commercial capital”. Since 2009, BusinessDay Media of financing, passenger safety and Allen Onyema, chairman of Air- good to know that AirPeace is looking These discussants comprise Opuiyo Limited has brought together hun- on-time flights services are key to an Peace said the airline has come for strategic alliances and partner- Oforiokuma, MD/CEO ARM-Harith dreds of Chief Executive Officers airline’s growth. to stay and is ready to compete ships. For the international flights to Infrastructure Investment; Bolaji and Managing Directors, as well as Air Peace recently signed a deal with any international airline. He actually be sustainable, you need to Balogun, CEO, Chapel Hill Denham C-Suite Executives of Multinationals, with a United States-based airline disclosed that the 10 B737 aircraft have that international partnerships and Chief Investment Officer, Nige- Major Companies, Top-tier Organ- manufacturer, Boeing, for the pur- it purchased would be deployed to and alliances. This will make them ria Infrastructural Debt Fund; Kunle isations and SMEs to the Annual chase of 10 new aircraft, an order the Lagos-Paris; Lagos-Frankfurt; codeshare to transfer passengers and Elebute, National Senior Partner CEO Forum. Subsequently, the CEO which on arrival will increase the Lagos-Amsterdam; Lagos-Milan; cargo with other airlines. KPMG Nigeria; and will be moder- airline’s fleet size to 37. The newly -or Abuja-Jeddah; Kano-Dubai and “The other thing that is key is dered 737 MAX is the fastest-selling Enugu-London, adding that the that they have to define what kind of ated by Macaulay Ataisie, Managing Continues on page 38 Partner, Nexton Business services. airplane in Boeing history, accumu- B777 would be used on the London, model they are running. You find out lating more than 4,700 orders from United States, China and Johannes- Turkey, NACCIMA, NIA, 102 customers worldwide. burg routes. C ontinues on page 38 others back BUILDMACEX Coca Cola to complete acquisition of Nigeria’s Chi in Q1 2019 DANIEL OBI president of Coca-Cola’s West Africa 100 percent complete acquisition tlantic Exhibition, the or- sector towards international stan- business, told Reuters. three years later is a strategic step ganisers of the annual con- dard practices” – the Chief Executive oca Cola, the global fore- According to sources, the parent to leapfrog into value added dairy, struction trade fair tagged, Officer of Atlantic Exhibition, Mr Paul most beverage brand, is company of the Lagos-based Chi which is an emerging and high “Building, Construction Olugbade, said, “We are passionate likely to complete acquisi- Limited, Tropical General Invest- growth beverage category where Aand Machinery Exhibition,” or sim- about resolving today’s building and tion of Nigeria’s Chi Lim- ments (TGI) Group, owned by a Eu- Chi has gained leadership and built ply BUILDMACEX, has partnered construction challenges and believe Cited, a top juice company, early next ropean family, had been considering a strong competitive advantage over with the Turkish government to- this event will be a rallying point for year, BusinessDay gathers. sale of the company for some time. the years. wards bringing innovation to the all stakeholders, including architects, The value of the complete acqui- Apart from Chi, TGI is into agribusi- The planned full acquisition, if Nigerian construction industry.
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