In a bid to inculcate financial discipline, Sterling Bank Plc, Nigeria’s leading commercial bank, held a financial literacy training session for secondary school pupils in Jigawa State.
The interactive session equipped the pupils with skills for making informed and effective decisions on the use and management of money.
Tagged Financial Literacy Day, the event, which held at Dutse Commercial Secondary School, Takur, Jigawa State, at the instance of the Central Bank of Nigeria (CBN), was part of activities lined up to celebrate the annual Global Money Week.
In his speech, the Chief Executive Officer (CEO) of Sterling Bank, Mr. Abubakar Suleiman, said the bank chose to train the pupils to shape their thinking and expose them to important financial lessons needed to beat future economic challenges.
The CEO, who was represented by the North-West Regional Manager of the bank, Mr. Ibrahim Salihi, said the one-day training was also aimed at helping the pupils better understand the importance of savings and investments.
“We are optimistic that if the pupils can understand the importance of savings and investments at a young age, they would grow into adults who can achieve financial security and success,” he said.
Salihi, who facilitated the training, said, “It is crucial to prepare young people to manage their finances before reaching adulthood. Sterling Bank is committed to financial literacy for primary and secondary school pupils because the financial marketplace is becoming increasingly complex. And teaching young people to manage their finances should be a national priority.”
He emphasised the need for anyone who wants to save money to carefully select recognised financial institutions and advised the pupils to avoid dealing with shadowy institutions.
“Financial discipline guides an individual to spend what he earned, and his spending should not exceed his earnings. This is first the step for one to be able to save and use the savings for investments.”
He also highlighted the need for the pupils and the general public to embrace digital literacy as the global economy and social life are now operated on digital platforms. “Learning how to use the computer and other basic information and communication technology tools is almost compulsory for any businessman or service provider that needs to compete in local and international markets.”
Salihi reminded the pupils that Sterling Bank has chosen them to be agents of spreading financial literacy and urged them to share the knowledge they have learned with their friends, siblings and immediate communities.
He also enlightened the participants about the numerous opportunities offered by Sterling Bank to pupils, parents, teachers and schools to achieve their aspirations.
In his remarks, the Director Dutse Commercial Secondary School, Takur, Jigawa State, Malam Abdulmumini Jibrin expressed gratitude to the management of Sterling Bank for choosing the school for the training.
He noted that going by the responses from the pupils, it showed that the lecture had opened their minds and shaped their thinking on financial discipline, savings, and investments.
The director expressed the readiness of the school to continue collaborating with the bank to promote financial literacy and academic excellence.
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The Dangote Group has proudly asserted its position as Nigeria’s most valuable brand, achieving a remarkable aggregate score of 86.2 percent on the Brand Strength Measurement (BSM) Index, a meticulous evaluation conducted by Top 50 Brands Nigeria as part of its comprehensive 2023 Top Brand Perception Assessment.
During a much-anticipated media briefing held in Lagos on Wednesday to unveil the 2023 Top 50 Brands Nigeria list, the organization lauded Dangote for its unwavering commitment to excellence, which has solidified its stature as a premier brand within the nation.
The conglomerate revealed that MTN, a formidable contender in the market, secured a closely contested second place, boasting an impressive 85 BSM index score.
This year’s rankings saw Airtel Nigeria and Globacom securing the third and fourth positions, both earning significant BSM index scores of 77.9 and 77, respectively.
BUA Group made its inaugural appearance in the Top 10, capturing the attention of industry observers with a noteworthy BSM Index score of 70.8.
The illustrious list of the Top 10 brands further includes Access Bank, Zenith Bank, Coca-Cola, GTCO, and First Bank, each of which has maintained its exceptional reputation and resonance within the Nigerian market.
Commenting on the outcomes of this year’s assessment, Taiwo Oluboyede, CEO of Top 50 Brands Nigeria, said, “A brand is akin to a person, embodying all the traits that define its personality to the audience. When you hear a person’s name, you’re likely not merely recalling their appearance or attire, but rather who they genuinely are and the significance they hold for you.”
Oluboyede continued, “One may profess to be the best in the world and may even invest in extensive advertising to attract attention. However, the true perception of that individual is ultimately shaped by one’s personal experience. Likewise, the perception of a brand can evolve from favor to disfavor, or vice versa. This dynamic holds true for both individuals and brands alike.”
SnackFix From Bühler Adds Value to Local Grains in Nigeria and Boosts Food Security
The SnackFix small-scale cereal bar production system from Swiss technology group Bühler is the ideal solution for small and medium enterprises (SMEs) to add value to locally produced grains in Nigeria and assist the country to address food security, says Manuel Murrenhoff, Managing Director, Bühler Nigeria.
On-the-go snacking consumption in Nigeria is rising steadily, presenting opportunities for SMEs to enter the market. “In terms of bars, fruit, and sweet snacks alone, this market segment is expected to exceed half a million tonnes by 2025,” says Murrenhoff. The main driver is the burgeoning population, estimated at 223.8 million in 2023, a 2.41% increase over 2022, and expected to grow to 377 million by 2050.
“The economically active part of the Nigerian population is quite sizeable and very mobile, which is boosting on-the-go snacking consumption,” says Murrenhoff. In addition, with half of the population living below the poverty line, there is more than ever the need to drive consumption of the full range of locally grown grains to keep final product prices in check.
“With the price of wheat projected to rise to record heights, Nigeria cannot possibly feed the growing population by importing wheat and other products. On the one hand, there is a shortage of forex and on the other hand, prices are escalating globally. That is where innovation, using local grains, plays an important role in food security, especially as these can be successfully incorporated into ready-to-eat foods,” says Murrenhoff.
Iyore Amadasun, Sales and Channel Business Manager at Bühler Nigeria, says that Bühler’s Snackfix, designed for food producers seeking a share from the on-the-go snack segment, promotes the processing of locally sourced grains for snacks while maintaining the highest food safety standards.
SnackFix is a multi-grain solution that allows SMEs to innovate across the spectrum of locally produced grains in Nigeria. The technology presents an entry-level, plug-and-play solution that is compact, cost-effective, and easy to commission and operate.
SnackFix includes a continuous mixer, a cooling tunnel, and a cutting system, all in one – everything needed for quality production. The combination allows SMEs to manufacture a huge variety of cereal bars at a volume of up to 130 kg per hour.
Customers benefit from Bühler’s experience in product development using a wide range of locally produced grains including, for example, sesame seeds, cashews, and peanuts. “We can help newcomers in the market achieve the best recipe to satisfy functional and indulgence consumer requirements in this segment and then supply them with a customised solution,” says Amadasun. In addition, Bühler has an innovation centre and laboratory in Switzerland to assist with different formulations and product development.
“The ready-to-eat market is of strategic importance to Nigeria, as it can adapt local grains for snacking consumption, promote healthy eating habits, and at the same time assist with Food Security,” says Amadasun.
With offices in Lagos and Kano, Bühler Nigeria is a leader in grain and food processing and offers solutions for grain drying and storage, flour milling, rice milling, cacao and chocolate processing, wafer and biscuit, pasta and noodles, feed, and aqua feed milling. Bühler Nigeria also provides support in the form of solutions for ink and coating applications and flexible packaging systems.
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