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Weekly Trust
Saturday, May2i, 2011
Business
'Food prices rise by 2.5 percent inApril' From Kayode Ekundayo, Lagos
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HE National Bureau for Statistics says the average monthly food prices rose by 2.5 per cent in April, 20 II when compared \vith March 2011 figure. The bureau in its latest report, stated thatthe level of the composite food index was higher than the corresponding level a year ago by 13.6 pe rcentwhile the average annual rate rise of the index was 13.4 percent for the twelve-month period ending April, 2011. It attributed the increase in the month-on-
month index to mainly upward movement of the prices of some food items like yam, beverages, fruits, vegetables, fish and cereals. The "All items less Farm Produce" jn.dex which excludes the prices of agricultural products, increased by 1.3 percent in April, 2011 when compared with March, 2!H 1. The increase was mainly on some household it= building materials, rents, diesel and kerosene. In the twelve-month to April 2011, the index rose by 13.9 percent while the average annual rate rise ofthe index was 12.2 percent for the twelve-month period ending April, 2011. The year-on-year average consumer
price level as at April 2011 for Urban and Rural dwellers rose by 9.0 and 13.7 percent respectively. The percentage change in the average composite CPI for the twelve-month period ending April 2011 over the average of the CPI for the previous twelve-month period was 12.7. This was slightly lower than the figure for the preceding month. , The corresponding 12- month average percent change for urban and rural indices rose by 10.0 and 14.7 respectively. Also, analysts from RTC Strategy and AdviSOry, a strategy, policy and
business advisory group in their April report, also stated that average monthly food prices rose by 0.4 per ernt in March 2011 due to rise in yam, beverages, fruits, vegetables, fish and cereals, while non-food price increases of 1.7 percent related to household items, building materials, diesel and kerosene. International Monetary Fund (JMF) had predicted another sharp increase in food and fuel prices in Africa, the resilience exhibited by the region during the last few years. The Fund in its latest report, said the price shocks were likely to lead to higher inflation in most African countries. '
Main One Cable unveilsnew incentive Program Nahimah Ajikanle Nurudeen, Lagos
CAP to unveil Duplex colour of the year From Kayode Ekundayo, l.agos N its bid to consistently provide fresh and accurate information as well as contribute to the living sta.ndard of its consumers, Chemical and Allied Products (CAP) PIc, a subSidiary of UACN Pic and also the iechnological licensee of AkzoNobel. the world's largest paints and coati.ngs company and
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producers of Dultix Paint, will be unveiling the Dulux Colour of the Year on May 25, 2011 . This was disclosed by the Marketi.ng Manager, Mr. Domlnic Oladeji. According to him, Dulux Colour of the Year is a concept that reinforces Dulux as a global authority in colour. He further stressed that once a year, the Aesthetic Centre of AkzoNobel meets with an international group of creative experts from the fields of colour, . deSign, architecture and fashion,
all with their fi.ngers on the pulse ofwhat is happening in trends and colours, to discuss and decide which colour shades will be dOminantly used globally during the year. A colour is then picked out of the colour ~hades as the most likely prominent'colour • By SundayWilliams shade for the year. He added that this year's colour • of the year will be r~vealed in a • THE former Managing Director grand style in association with the of Unity Bank,Alhaji Lamis Dikko attributes of the colour th·a t has has commended the Board of the been discovered to h ave such an bank for appointi.ngAlhaji Samaila Abdullahi Galadanchi as the Group amazing impact on the world Executive Director of the bank. Speaking yesterday in Abuja at a reception in honour of the new Executive Director by friends and Takahash i Satoshi, in-charge AC family, the former MD who was business, Panasonic Corporation, the chairman of the occasion said Japan, he explained that ·the that the appointment is fo r the ECONOVI d ual sensor e-ion generation ofpeople that who have purifying system covers a wider actually worked for Unity Bank. area and the "dual human activity . "When I learn thatSaimaila has sensor detects h u man activity • ·finally been appointed by the Board level and d irects a irflow to • of Unity Bank as Group Executive occupied or h igh activity zone:' Director,belive you me along He also explained that the with some colleagues, I thought ECONOVI high precision sensor it was not Samaila that had been can also detect any moving appointed but the whole group of object, us ually human, within its generation of. persons who have detection zone; the temperature worked tirelessly ·with their time of the object is the n compared to create what is today called Unity with the room's temperature to Bank. determine the level of activity so These guys were worldng 18 as to adjust accordingly. hours a day to make sure that
Panasonic introduces new air conditioners From Chris Agabi, Lagos PANASONIC Corporation, Japan, has unveiled its 2011 deluxe model air conditioners, ECONOVI, an enVironmentally friendly dual sensor air conditioner. It also introduced the Supper Alleru air conditioners, also environmentally friendly and energy saving split units. Unveilin g the product in Lagos, Mr. Akira Iwai, Councilor, Promoter, Panaserv Nigeria Limited, said the design of the new air conditioners is "completely inspired by nature with great
emphaSiS on energy conservation and optimal performance:' He said the split units, which comes in various horse powers, guarantee consistent supply of comfortable, clean and healthy air with minimal energy. "ECONOVI d u al sensor air conditioner utilizes human sensor and control programme technologies to detect where energy is normally wasted and self-adj usts cooling power to reduce energy waste, thus empowering individuals to save energy easily and contribute to the environment:' Iwai noted. In a presentation by Mr.
AS part of efforts to ensure that N igerians have access to affordable broadband internet connection, Main One Cable Company has unveiled. a new customer incentive plan tagged, "Partner Advantage Program': Speaking during the media launch of the programme, Main One's Chief Executive Officer, Funke Opeke, said that the Partner Advantage Program is aimed at enabling existing and new customers to increase their broadband capadty subSCriptions and provide benefits for incremental subScriptions. According to Opeke, the program is also aimed at cultivating closer relationships between Main One and existi.ng partners as well as service providers seeking to connect to the West Africa's premier submarine cable networkby collaborati.ng on business solutions for the customers of the partners.
She said, "in" our continuous efforts to lead in the availability of uninterrupted high quality broadband capacity. we ··. are pleased to introduce a new partner incentive platform which will provide our resellers in Nigeria with an opportunity to sell high quality broadband solutions which guarantee an increase in business opportunities for both Main O ne . and its partners. The Partner Advantage Program will give our partners the flexibility to target and simplify access to the resources required for new products and services~' . Opeke stated that demand for highly secure bandwidth network capacity from different categories of customers is driving Main One to deploy additional service platforms and partner incentive programs to encourage its partners to help push for better Internet penetration in Nigeria, which today sta.nds at roughly 13%.
Former Unity Bank MD lauds Galadanchi's appointment what we called Unity Bank was put together. Himself and Ahmed Yusuf though were not what you called top management then but were actually the processing factory;' he said. He said that while he was at the bank, he learned a lot from them, adding that loyalty is a two-way
affair. He said: "People who are in position of authority expect loyalty from their subordinates but great leaders do give loyalty to thei r subordin ates and that was what I learned frolD working with them:' Speaking the newly appOinted Group Executive Director Alhaji Samaila Abdullahi Galadanchi give thanks to God for making it possible for him to attain that pOSition and that that he will guide him in the discharge of the responsibilities. He thanked his frie nds for the reception, adding that he is indebted to them and pray that tl,e bond of the relationship will continue to flourish.