Corps Marshal, NADDC DG lead discussions at 10th Nigeria Transport Lecture 

The Corps Marshal of the Federal Road Safety Corps (FRSC) Mr. Dauda Ali Biu, and the Director General of the National Automotive Design and Development Council, Mr. Joseph Osanipin, will lead other major players to attend the 10th Nigeria Transport Lecture holding in Lagos on Thursday, May 23, 2024.

Already, Biu and Osanipin have confirmed to be part of the event.

Transportation safety will be the focus of discussions as industry players gather at the Radisson Blu Hotel, Ikeja GRA, Lagos.

Organized by Transport Day Media (www.transportday.com.ng), the theme of this year’s edition, which is ‘Transportation Safety in Nigeria: The Way Forward’, is meant to discuss issues about transport safety in Nigeria.

The discourse, which will involve industry participants from both the public and private sectors, will x-ray transport safety cutting across all modes of transportation in Nigeria.

Also expected at the lecture are the Nigerian Maritime Administration and Safety Agency (NIMASA), Nigerian Shippers’ Council, Nigeria Safety Investigation Bureau (NSIB), among others.

The Editor-in-Chief of Transport Day Media, Mr. Frank Kintum, stated that the topic is relevant in contemporary times because many lives and property had been lost to lack of adherence to safety measures in all modes of transportation.

He said, “Irrespective of the level of infrastructural development in the transportation sector, if safety is not promoted, we are going to continue to record loss of lives and valuable property.

“Hence, the lecture is meant to address pertinent issues concerning the industry as it concerns our local Nigerian setting.

“Aside from the lecture, we are also going to use the opportunity to recognize some players, both public and private sectors, who have significantly contributed to the growth of the sector and contributed to the economy in general.”

Naira gains marginally at N1,490/$ on parallel market

The naira appreciated further to N1,490 per dollar at the parallel section of the foreign exchange (FX) market on Monday, reflecting a 1.34 percent increase from the N1,510/$ rate recorded on May 17.

Currency traders in Lagos, known as bureau de change (BDC) operators, quoted the buying rate of the dollar at N1,450 and the selling rate at N1,490, yielding a profit margin of N40.

In the official FX market, the naira also appreciated by 1.93 percent, trading at N1,468.99/$ on Monday, compared to N1,497.33/$ on May 17. During intra-day trading, the naira fluctuated, depreciating to as low as N1,550/$ and appreciating to as high as N1,400/$.

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Agora Policy, an Abuja-based think tank, emphasized the need for a temporary dollar liquidity bridge or increased FX inflows to support the Central Bank of Nigeria’s (CBN) orthodox reforms. The think tank suggested that measures such as eurobond issuance, asset sales, and engaging multilateral agencies could help boost dollar inflows into Nigeria.

In the medium term, Agora Policy recommended that Nigeria prioritize restoring organic dollar flows from oil exports by addressing the backlog of encumbrances.

The organization also highlighted the importance of balancing exchange rate stability, which is crucial for controlling near-term inflation, with enhancing non-mineral export competitiveness in Nigeria’s small open economy.

Naira gains marginally at N1,490/$ on parallel market

Cash rain at Toyota Nigeria Awards as Nestle, Zenith, Roxcon win big (+photos)

Toyota (Nigeria) Limited (TNL) on Friday, May 17, 2024, named Nestle Nigeria Plc as winner of its prestigious Evergreen Customer Award for the Year (2023).

The company emerged winner among the teeming Toyota customers, having purchased the highest cumulative number of new Toyota vehicles consistently within a five-year period (2019 – 2023) from the TNL accredited dealers.

As the Evergreen customer, Nestle was rewarded with office equipment worth about N10 million, which was announced by the Chairman of Toyota Nigeria Limited, Chief Michael Ade.Ojo, at a well attended ceremony held in Lagos to celebrate the customers.

Nestle also won the Best Customer of the Year award, being the customer with the highest purchase of Toyota vehicles from the TNL dealers in 2023. It also went home with a cash award of N5 million.

Roxcon Nigeria Limited and Zenith International Bank received N3 million and N2 million respectively for emerging first runner-up and second runner-up in the 2023 TNL customers purchase assessment.

Ade.Ojo congratulated the winners and thanked them for their loyalty to the Toyota brand and Toyota (Nigeria) Limited’s superior quality products and after-sale support.

Even as he urged others to take a cue from the winners, he announced that next year’s winner of the biggest award, the Evergreen, would go home with a brand new Toyota vehicle.

The Managing Director of Toyota (Nigeria) Limited, Mr. Kunle Ade-Ojo, in his address at the event, spoke on the big idea behind the annual awards.

He said, “At Toyota (Nigeria) Limited, the philosophy of ‘Customer First’ remains the focal point of all our activities. Therefore, at every opportunity, we like to recognize and acknowledge our customers’ overwhelming love and support for us, which has been our driving force over the years.

“Your unwavering patronage of the Toyota brand and unshaken loyalty to it have been awesome.”

The MD said that the company had consistently held the awards every year since the inaugural edition in 2005 but only suspended it during the COVID period.

“We thank you for staying with us throughout the difficulties brought about by the pandemic,” he added.

Notwithstanding the economic challenges confronting business organisations in Nigeria, Ade-Ojo expressed the determination of the TNL team “to maintain our culture of providing superior quality products and services to our esteemed customers.

“We will continue to avail you of models that meet your specific needs supported by robust after-sale services.”

He commended the vision of the company’s Chairman, Chief M. Ade.Ojo, affectionately called Mr. Toyota, whose foresight and tenacity, he said, had changed the face of the automobile industry in Nigeria.