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Lagos, Ogun Wins Cowbellpedia Season 5

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In a trilling, but energy-sapping mental duel last weekend, representatives of Lagos and Ogun States shrugged off all challenges to emerge victorious in the finals of season 5 of the Cowbellpedia Secondary Schools Mathematics Television Quiz Show sponsored by Cowbell Milk, the flagship brand of Promasidor Nigeria Limited.

In an electrifying final battle of the Junior category, Michael Enehizena of The Scholars Universal Secondary School, Ota, Ogun State put the crown beyond the reach of his fellow contestants by garnering 125 points at the end of the two-round encounter.

Enehizena who also had a perfect score in the qualifying examination in March, pushed Abdul-Quayum Alli, of Ota Total Academy, Ota, Ogun State, who had 115 points and David Charles of Graceland International Secondary School, Port Harcourt, Rivers State, who scored 110 points to the second and third place respectively.

Ebube Okafor of Saint Francis Catholic Secondary School, Idimu, Lagos State and Alonge Esmond of The Scholars Universal Secondary School, Ota, Ogun State had earlier crashed out after the first 12 questions in the first round, while Ernest Ofoama of Makurdi International School, Makurdi, Benue State, fell after a tie-breaker at the end of first round.

The 14-year old Enehizena who dedicated his victory to God and his parents explained that he ‘practiced hard and prayed harder’ during the competition.

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“I am always very excited with the way the Cowbellpedia winners are celebrated. We see them on television screen and read about them and their schools in the papers and online.”

“I am excited and grateful to God that it is my turn to be celebrated now,” Enehizena who aspires to study Mechanical Engineering told journalists outside the studio.

His teacher, Daniel Ogunleye commended him for his wonderful performance and commended Promasidor for exposing his great talent through the Cowbellpedia initiative.

The Senior category contest was equally exhilarating as Oghenero Ologe of Zionfield Pinnacle School, Ikorodu, Lagos State took the crown at the expense of Akinyemi Dabira of The Ambassadors College, Ota, Ogun State and Hezekiah Olabisi of Bibo Oluwa Academy, Ilesha, Osun who emerged first and second runner-up respectively.

Three other contestants: Onyeka Madumere of Scholars Universal Secondary School, Ota, Ogun State; Gift Omoelegbehan of Crescent International School, also in Ota, Ogun State and Famuyiwa Henry of Model Secondary School Alagbaka, Akure, Ondo State fell to superior firepower at the end of the first round.

An excited Ologe told journalists outside the studio that “it is nice and wonderful to be the champion.”

A first timer in the Cowbellpedia Competition, Ologe revealed that he watched many episodes of the competition to sharpen his preparation ahead of the contest.

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“I did not participate in the Junior edition, but I was determined to make an impact and so, I practiced hard,” the 15-year old said.

For their efforts, the two champions got ₦2 million each and an all-expense paid education excursion outside the country.

The first and second runners-up in each category received ₦1.5 million and ₦1 million respectively, while the teachers of the top prize winners were awarded ₦500, 000. Those of the first and second runners-up received ₦400, 000 and ¥300, 000 respectively.

In his chat with journalists at the event, Managing Director of Promasidor Nigerian Limited, Mr Einarsson Anderson reiterated the commitment of the company towards education, saying it is the most important investment for the future of the children of Nigeria.

He saluted the finalists for their excellent performance while also assuring that Promasidor will continue to support the academic development of Nigerian children.

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NSE Approves Merger Between Dangote Sugar Refinery (DSR) Plc and Savannah Sugar Company Limited

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The Nigerian Stock Exchange (NSE) has approved the business merger between Dangote Sugar Refinery (DSR) Plc and Savannah Sugar Company Limited.

With the approval, a total of 146.878 million ordinary shares of Dangote Sugar Refinery will be issued to shareholders of Savannah Sugar Company Limited. The shares will be subsequently added to the shares outstanding in the name of DSR at the NSE.

Dangote Sugar is Nigeria’s largest producer of household and commercial sugar with 1.44 million metric tonnes refining capacity at the same location.

The refinery located at Apapa Wharf Ports Complex, refines raw sugar to white, Vitamin A fortified refined granulated white sugar suitable for household and industrial uses.

Its subsidiary, Savannah Sugar Company Limited, located at Numan, in Adamawa State, is an integrated sugar production facility, with an installed factory capacity of 50,000 tonnes.

Covering 32,000 hectares, the Savannah Estate has considerable opportunity for expansion, which is underway as part of the Dangote Sugar for Nigeria Project campaign.

DSR has explained that its backward Integration goal is to become a global force in sugar production, by producing 1.5 metric tonnes per annum of refined sugar from locally grown sugar cane for the domestic and export markets in 10 years.

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As part of its backward integration project, DSR had strengthened its group with the incorporation of four other companies, including Nasarawa Sugar Company Limited, Dangote Taraba Sugar Limited, Dangote Adamawa Sugar Limited and Dangote Niger Sugar Limited.

The new companies have a combined landmass for agriculture of about 110,000 hectares.

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Chi Limited Launches Chi Exotic Juice in Cans

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Nigerians can now enjoy Chivita fruit juices in cans as Chi Limited, the producer, has introduced Chi Exotic and Chivita Ice Tea in cans.

According to the company, the launch once again demonstrates its continuous quest for  innovation  that meets the dynamic needs of Nigerian consumers.

Describing the latest product package as still with the same unique and great taste of Chi Exotic and the rejuvenating power of Chivita Ice Tea, the company stated that this is another first from Chivita, as it is the first time a mainstream juice brand is available in cans.

“The new Chi Exotic and Chivita Ice Tea 330ml cans exude confidence and style, and appeal to the youthful consumer segment by providing satisfaction and refreshment on the go in line with changing lifestyle trends.

Commenting, the company’s Managing Director, Mr. Deepanjan Roy, said: “We decided to introduce Chi Exotic and Chivita Ice Tea 330ml Cans in order to appeal to a youthful segment of the population, whose lifestyle needs keep evolving.

These innovative Cans for Chivita are modern, and reflect the individual style and personality of the consumer who desires to be seen carrying & drinking fruit juice from a can.”

Chi Exotic Pineapple Coconut and Chivita Ice Tea are available in 330ml Cans and at an affordable price of N150 only.

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They can be purchased in Chi Shoppes, supermarkets, departmental stores, markets, and neighborhood kiosks.

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The Role Of Intellectual Property In Merger, Acquisition Process

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In the recent time intangible assets of companies are becoming prominent in financial statement.

John student former CEO of Quaker Oats Company once said “If this business were split up, I would give you the land and bricks and mortar, and I would take the brands and trademarks, and I would fare better than you”.

The above statement suggests that the engine or the power of Quaker Oats Company is the brand and trademark.

Merger and Acquisition is the amalgamation of interest of more companies in other to be financially stable or dominate the market, which can be vertical integration, horizontal integration and conglomerate merger.

This does happen for number of reasons, size, risk reduction, limit competition, financial synergy, growth, management etc and when this happens both the assets and liability are combined.

Intellectual property has attained an extremely important status within the fabric of society and livelihood.

Some enterprises, and even whole industries, are built on an intellectual property foundation. Dependency on intellectual property in businesses and careers a significant percentage of the population dwells on creating and maintaining intellectual property.

The society is being entertained by it, educated by it, communicate with it, and are made and kept healthy by intellectual property (World Intellectual Property Organisation, 2019).

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Thammaiah and Narahari earlier stated that Intellectual Property is a means for technological and economic growth that has been realized globally, especially in the developing nations.

Binder and Nestler corroborate the earlier view of Ocean Tomo (2015) that Intellectual Property represents 80 percentage of the corporate value.

By this, intangible assets account for an average of 80 per cent of enterprise value, which 50 years ago was in the area of 25 per cent.

In parallel with the structure of assets and value drivers, the sources of profit have changed over time. Profits generated by intangibles assets increased at the 80 per cent.

Today, by implication, an average of 80 per cent of profits comes from intangibles assets (intellectual Property) Binder and Nestler (2016).

Marsh and Mclennan Company (2014) stated that, the initial public offerings, high-profile mergers and acquisitions and litigation has thrust intellectual property (IP) into a strategic position in the global economics. The due recognition of IP will help in determining the optimal structure and character of the business deal.

The type of company or business IP ranges from copyright, trademark, patent, design, trade secret and combination of these makes a business to flourish and ability to compete in their various sectors, every sector has its peculiar IP, including the staff.

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All these are to be put into consideration wherever companies are coming together as one.

For parties to be comfortable at the point of negotiation, it is advisable they possess business valuation report, which includes intangible assets, which would have analyzed the financial healthy nature of the company.

This requires a deeper understanding of the valuation methodologies.

The interest of parties would have been x-rayed in the valuation report; the strength and weakness of the parties would be glaringly seen.

Therefore, the economic value of Intellectual Property assets is very important in considering any merger and acquisition.

In other word, companies should protect their IP portfolio jealously. A smart investor will make you to forget your IP, which will in turn be the life wire of the new marriage.

There are products that have turned to be household name. In fact, one would have mentioned the name and the retailer would have asked what type?

Meanwhile it is a product’s name, such going into Merger has a good trademark to negotiate with, because he has dominated the market already.

The present and future value of IP value is very important and therefore, all financial team should take good cognize of Intellectual Property Rights, when it comes to dealing with M&A transactions.

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In Nigeria, those who are trained, qualified and experienced to undertake such task are the registered estate surveyors and valuers.

– Daily Independent

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