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5,000 Lagos Taxis to Carry Embedded Devices

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  • 5,000 Lagos Taxis to Carry Embedded Devices

A digital advertising company, InTaxiads, has developed a taxi interior advertising service in Lagos, saying that the taxi-marketing strategy will enable companies aiming to widen their scope to reach more customers.

Industry players said on Friday that InTaxiads’ new service was poised to see it rake out more revenue from the $309m TV advertising market in Nigeria alone.

A Lagos-based registered transport solution association, Moving Train Pilots Association, said in a statement, “Our members are ready to make an extra living through the new initiative.”

The Managing Director, InTaxiads, Amina Ayeni, said that with the platform, advertisements would generate more impression and provide clients with the ability to monitor their campaigns.

She said it would empower over 5,000 taxi drivers, noting that the digital screens expected to display advertisement of products and services offered by its customers, would be screwed to headrests in taxis.

“These adverts will be clearly displayed for passengers who use taxis until they get to their destinations,” Ayeni said.

InTaxiads said it also moulded the platform for drivers across Lagos willing to become ambassadors without paying any fee.

“With growing unemployment and low revenue due to the sheer increase in the number of car-sharing services, executive car drivers and taxi drivers will definitely benefit from the new service considering they could earn more cash,” Ayeni said.

“However, the fluidity it comes with might stir fresh competition with rival advert agencies across the country,” she added.

According to Ventures Africa, the company has already installed the device in over 5,000 taxis, and drivers are set to flood Lagos roads in no time.

Findings from researches indicate that technologically embedded devices have continued to drive mobile advertising, which has made new strategies for advertising inevitable.

The company said that adverts would roll 60 times per hour in moving vehicles and reach target audience more quickly.

This also means passengers will now get a peek into which products are available in the market while in transit or when stuck in the infamous Lagos traffic.

Lagos has an estimated population of about 20 million people and a Gross Domestic Product of $136bn. The state is said to have assumed the role of the unofficial commercial capital of the continent, leaving a wide market for business to thrive in the country.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Business

Onne Port Gets $115M Boost as VP Shettima Inaugurates New Terminal Equipment

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Lekki Deep Seaport

Nigeria’s Vice President, Kashim Shettima, has inaugurated a new $115 million terminal equipment at the Onne Seaport in Rivers State.

Represented by his Personal Assistant on Subnational Infrastructure, Mr. Musaddiq Mustapha, the Vice President said the new will aid infrastructure development and catalyze economic growth.

According to the Vice President, the new upgrade is expected to enhance the operational efficiency of the port and improve trade within Nigeria’s maritime sector.

The upgrade was spearheaded by the West Africa Container Terminal (WACT), a subsidiary of APM Terminals.

It included the installation of advanced terminal machinery, an upgraded administrative building, and a cutting-edge CCTV surveillance system.

“This equipment will open new opportunities for trade development in Nigeria’s maritime sector,” Shettima said.

He lauded WACT and its partners for their dedication to modernizing the port and ensuring its competitiveness.

Frederik Klinke, Managing Director of APM Terminals, highlighted the company’s strong safety record and its long-standing commitment to manpower development programs that benefit local communities.

He thanked the federal government for creating an enabling business environment that has allowed the terminal to thrive for nearly three decades.

In attendance was the Minister of Marine and Blue Economy, Mr. Gboyega Oyetola, who commended APM Terminals for its continued investment in the West Africa Container Terminal.

He assured that the ministry would continue to back modernization efforts aimed at reducing the cost of doing business in Nigeria.

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Dangote Refinery Denies NNPC Petrol Lifting Claims Amid Ongoing Contract Talks

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Dangote Refinery

Dangote Refinery has refuted claims that the Nigerian National Petroleum Corporation (NNPC) had begun lifting petrol from the refinery and set the pump price at N897 per litre.

In the BusinessDay publication, the newspaper reported that NNPC commenced petrol lifting on Wednesday and set the pump price at N897/litre.

Anthony Chiejina, the Group Chief Branding and Communications Officer of Dangote Refinery clarified that NNPC has not yet begun lifting Premium Motor Spirit (PMS) from the refinery.

According to Chiejina, discussions between Dangote Refinery and NNPC on the contract for petrol lifting are still ongoing and have yet to be finalized.

Chiejina said since no petrol has been lifted, the claim of setting a price for the product is unfounded.

He further noted that the pricing of PMS falls under the jurisdiction of the government and is strictly regulated, meaning Dangote Refinery has no authority to set prices independently.

The company assured Nigerians that once operations begin, the refinery will deliver high-quality petroleum products across the country.

Chiejina urged the public to disregard the misleading headline and assured that accurate information will be provided as the refinery prepares to commence full operations.

The statement concluded by reiterating Dangote Refinery’s focus on contributing to Nigeria’s energy sector and meeting the nation’s demand for top-tier petroleum products.

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Femi Otedola Applauds Dangote’s 25-Year Journey to Energy Revolution

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Dangote Refinery

Billionaire businessman Femi Otedola has congratulated his long-time friend and business partner, Aliko Dangote, on the success of Dangote Refinery.

In a heartfelt message released on his X account @realFemiOtedola, the billionaire reflects on their shared 25-year journey to reshape Nigeria’s energy sector.

Otedola said “Aliko, it feels like just yesterday, but it has been 25 long years since we first set our sights on transforming Nigeria’s energy landscape. I remember vividly when we set up the Blue Star Consortium to acquire stakes in the Kaduna and Port Harcourt refineries—20% for me and 51% for you. We were ready to change the game, but fate had other plans. The government of the day, in an act I can only describe as utterly obnoxious, canceled our stakes and thwarted our vision. But, as always, you refused to be deterred.”

“You never gave up on the dream we shared. You carried the torch forward, igniting a spark that has today become a roaring flame. And now, 25 years later, here we stand on the precipice of history, with the first fuel shipment from the Dangote Refinery—a feat that is nothing short of miraculous.

“While the Kaduna and Port Harcourt refineries have remained dormant, their promise unfulfilled despite billions of dollars spent on so-called turn-around maintenance, you have achieved what many said was impossible. You have beaten all the skeptics, silenced the naysayers, and proved wrong those who doubted your resolve, even those who never wanted this project to succeed.”

You have not just built a refinery; you have liberated us from the chains of economic dependence that have held this nation back for far too long. The days of bowing to foreign powers for our fuel needs are over, thanks to your vision and determination.

“You have dealt a death blow to the so-called local cabals who have fattened themselves for years, feeding off our nation’s economic slavery. These cabals, who have grown rich by keeping Nigeria in a perpetual state of dependence, must now face the reality that their era of easy gains is coming to an end.

“I am reminded of the time you revolutionized the cement industry in Nigeria. Ships that once brought in cement turned into rusting relics, scraps of a bygone era. Now, with your refinery in full swing, I foresee a similar fate for fuel imports. The depot owners should take heed—it’s time to dismantle those depots and sell them as scraps while the market is still high.

“The world has changed, and those who do not adapt will be left behind. When I ventured into the depot business with Zenon, it was in response to the inefficiencies of the NNPC. Zenon pioneered the diesel business in Nigeria and quickly became the largest in the country, filling the gaps left by our inefficient system.

“But today, your refinery stands as a beacon of what is possible when one has the audacity to dream and the tenacity to see it through. Aliko, you have my deepest admiration and respect. Congratulations to you and the entire board, management and staff of Dangote Refinery on this monumental achievement.

“This is not just a victory for you but for every Nigerian who dares to dream. May this be just the beginning of even greater things to come.”

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